💸💪🏾Moneda Moves (22): Send me your location🚆
¡Feliz día! 🤔Today, I ask you to think about the following: ¿Dónde vives? Where do you live?
Think about how it impacts your access to roads, public transportation, commute to the city center and access to resources (education, supermarkets, jobs and more). 🚆Consider for a moment, how your life might be different if you lived in an area surrounded by poorly maintained highways, gridlocked traffic and insufficient public transportation options.
(Source: Giphy)
Perhaps you don't have a lot of money, but if you're living near a robust transportation system or a car and nearby highways, kept roads that get your kids to school and yourself to work in a timely manner, you do have...access! 🔔
That's a stark contrast to the distinct reality residents of Gwinett county face daily. The suburban area northeast of Atlanta city is majority minority. Here, the Latinx, Asian and African American communities all experience an access issue with no transportation lines into the heart of the city. 🗳Now, citizens have the opportunity to vote on a referendum to provide access from the city to the suburbs via public transportation, but some rhetoric reminiscent of the 1970s could continue to set the community back in terms of transportation and economic mobility. The story comes from Tanzina Vega at WNYC's The Takeaway.
Atlanta is not alone in its transportation woes. As metropolitan areas across the country expand, cities all face similar questions: How do you fund a transportation system? Also, how do you properly care for lower income communities, which are not historically equipped with proper public transportation? Unlike ride sharing, public transportation is not subject to surge prices, Shin-pei Tsay, the executive director of the Gehl Institute points out. This poses a question of transportation as it relates to affordability.
Some food for thought for you, especially as discussions around gentrification continue to be relevant in growing cities.
Onto this week's Moneda Moves! No te olvides, if you like what you read, don't forget to pay us a visit on Twitter and Instagram.
Con poder✊🏽,
Lyanne
Keep tabs/cuentas on what's happening at the intersection of Latinx and money.
As 2020 campaigns go underway, Puerto Rico demands attention🇵🇷: Numerous organizations representing the island are seeking that Democratic candidates address crucial issues affecting 3 million residents in Puerto Rico. Among them? The orgs demand “full participation of island residents in critical federal anti-poverty programs," like food stamps and Medicaid. They also want a specific recovery plan to help rebuild in the aftermath of Hurricane Maria, which resulted in at least 2,975 deaths. The full report comes from Nicole Acevedo at NBC Latino.
(Source: Giphy)
Goldman Sachs wants to target Latinos for hire💼: It's no secret that diversity in the workplace is a much more public issue that it once was. In an effort to add more ethnically diverse hires to its workforce, Goldman Sachs is setting targets for hiring minority groups. The Wall Street bank is aiming for 14% Latinos in new analysts and associates in the Americas and 11% black. Sachs is not alone, as Citigroup has set goals to make 30% of its staff black or Latinx in the U.S. The full story is in the Associated Press.
🧐You may ask: Are quotas really a catalyst for change? It's a critical question. There are far more ways to evaluate diversity in a company, including looking at the people in leadership, business impact, and the kind of power and projects that for instance, Latinx and Black people have in these companies. Don't forget that white men still account for about 70% of corporate leadership in Fortune 500 companies.
Know the powerful/potentes Latinx and up-and-comers in the money world.
Immigrants own almost half of New Jersey's local businesses🍳: That's an incredible stat from Michael Hill at NJTV, and double the figure it was in 1990. In fact, immigrant-owned businesses make a $4.4 billion contribution to the state economy, per a New Jersey Policy Perspective report. But if you live by Broadway in Passaic or Bergenline, perhaps this might not come as such a surprise. Latinx small businesses like pupuserias, panaderias and other restaurants are an integral part of these communities. (Noches de Colombia, anyone?) Passaic Mayor Hector Carlos Lora told the network, "We often boast about the fact that you can travel around the world, by going through a couple of blocks in Passaic."
(Source: Giphy, sometimes La Pupusa Loca 2 😉)
Put your money/monedita where your mouth is! Some money tips for thought.
Redefining philanthropy in Latina circles💸: When you think of a philanthropist, who do you envision? While the stereotype of someone who gives in abundance may be someone who is wealthy and generally older, you will find that pool of people who give today is quite diverse and millennial. Per the latest Women Give report, the Women's Philanthropy Institute found that in the U.S., 33% of Latino households and 34% of African American homes donate to charities, compared to 59% of Asian American and 58% of white households. When you account for differences in income, these differences level out.
(Source: Giphy)
Better yet? Giving circles, which often led by women, generally have a makeup of 70% women. In these groups, people who can afford to give aim to make an impact. At the Latino Community Foundation in California, for instance, giving circles request $1,000 donations.
That's a wrap for this week. Thanks for reading, familia! Tell us: Do you have a favorite local business? Hit that reply button. 👋🏽In the meantime, hasta la proxima...