Mayo 2008 Cámara de Comercío Hispano-Americana Visión Vol. IV No. 1 página 16

Hispanic-American Chamber of Commerce406 S. Huntington Avenue • Boston, MA. 02130 • Tel. 617 261 4222 • Fax 617 522 0038 • www.hacc.com

Issue No. 1 Volume IV May 2008

SBA Launches Jobs andGrowth Initiative in Boston

Article courtesy of El Mundo Newspaper

Eleven cities nationwide have been selected to participate in the pro-gram which is designed for inner city businesses. The announcementwas made at Roxbury Community College (RCC) at a press confer-ence with the presence of local business partners and Carol Bliss-Furr,Assistant Dean of Corporate & Continuing Education at RCC.

On Thursday, March 27th, the U.S. Small Business Administrationannounced Boston’s participation in the Emerging 200 initiative, a jobsand growth stimulation effort targeting promising inner-city small businesses.

Steve Preston, Administrator, U.S. Small Business Administrationexplained that the SBA initiative will focus on small, poised-for-growth inner-city companies with potential for job creation.Emerging 200 will enable entrepreneurs from 200 companies nationwide to participate in an intensive and comprehensivecurriculum focused on developing winning local strategies and attracting capital to fuel growth. Continued on page 7

Steve Preston, Administrator, U.S. Small Business Administration

Bringing people together through entertainment products andservices is an integral part of the Comcast brand, and just asimportant is keeping them safe. Internet usage is growing rap-idly within the Hispanic market, and it’s important to knowthere are safety measures you can take to protect your family.

Comcast offers guidance through resources and tips that helpyou easily obtain the information you need at their go-toresource – www.comcast.net/security. This website gives youtips about avoiding threats such as preventing cyber bullying

(the new and growing practice of using technology to harass,or bully, someone else), identity theft, online predators andmore. With Comcast High-Speed Internet service you can alsoget free tools, including the McAfee Security Suite and theComcast toolbar. You can use these tools to help further pro-tect your family, computer and your personal information.

Do your kids use the computer to IM (Instant Message)friends? Here are the top five tips you can use to help keepyour kids safe while chatting online.

Continued on page 8

HACC partners with the City of Boston, the SBA, andthe MSBDC to sponsor the e200 initiative for 2008

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and Internet Safety“Keeping your family safe online”

May 2008 Hispanic-American Chamber of Commerce Visión Vol. IV No. 1 page 3

Visión NewsletterVisión is a quarterly bilingualnewsletter of the Hispanic-American Chamber of Commercea non-profit organization servingthe community of New England

Ariel SchmidtChairman

Alba AlvarezVice Chairwoman, Event Planner

Vicki LopezVice Chairwoman

Patrick Jacinto CarreraBoard Member

Maria E. DelgadoBoard Member

Ana PortilloBoard Member, Director of

Membership Development andServices

Nader AcevedoExecutive Director

Ferdinand Alvaro, Jr.Legal Advisor

Juana HortonAdvisor to the Board

Hispanic-AmericanChamber of Commerce

406 S. Huntington AvenueBoston, MA 02130

Telephone (617) 261-4222Fax (617) 522-0038

www.hacc.comnewsletter@hacc.com

Mayo 2008 Cámara de Comercío Hispano-Americana Visión Vol. IV No. 1 página 2

Printing provided by Atlantic Graphics

The February 21st meeting of theHispanic-American Chamber ofCommerce was held at the FederalReserve Bank of Boston. Public andCommunity Affairs Vice PresidentRichard Walker described his depart-ment’s recent initiatives, particularly inthe area of foreclosure prevention, andeconomist Yolanda Kodrzycki presenteddata comparing the current economic sit-uation in Massachusetts with the rest ofthe nation.

Walker said that one contribution ofPublic and Community Affairs has been

to provide research on foreclosuretrends and community responses to thenew Boston Fed President, EricRosengren, who has put a high priorityon addressing problems with subprimemortgages. Walker also mentioned twofree Public and Community Affairs quar-terlies that cover access to credit andcapital and other topics related to theeconomic development of New Englandcommunities: Communities & Bankingand New England Community 10.

Walker said that the Fed role is helpingto publicize the new Mortgage Relief

Fund, which was set up by five banks inDecember 2007 with the goal of movingqualified subprime borrowers into afford-able, fixed-rate mortgages.

Finally Walker highlighted DeAnnaGreen’s research on concentratedpoverty in Springfield.

Boston Private Bank hosted its second“Business Morning” event for HACC onMarch 20th at the Bank’s office in PostOffice Square. Over fifty members andfriends of the Chamber gathered tohear the featured speaker RobertEverett, Senior Vice President andPortfolio Manager at Boston Private, fora presentation on the impact of the sub-prime loan troubles on financial mar-kets.

Mark Thompson, Chief ExecutiveOfficer of Boston Private, welcomedeveryone and offered his support forthe important work of HACC promotingthe Hispanic-American business com-

munity in Greater Boston. “I ampleased to be welcoming HACC. I recognize theimportance ofthe Hispanic-American busi-ness communityin our localeconomy andam alwayshappy to havean opportunity toconnect with theChamber and itsmembers”.

Mr. Everett high-

lighted in his presentation that sub-prime loans have been around formany years and were not, in them-selves, the cause of economic woesthat the U.S. is facing. Rather, the cur-rent situation is the result, in large part,of new financing investment vehiclescreated on Wall Street that were drivenby a large appetite for profitable invest-ments involving individual mortgageloans bundled together for sale toinvestors.

"Business Morning"Thursday, February 22, 2007

Federal Reserve Bankof Boston

600 Atlantic AvenueThe New England Room

Boston, MA 02210

8:30 - 9:00 a.m.Registration/Continental Breakfast

9:00 - 9:45 a.m.• An update and forecast of the Economy in 2007

• Update of community development activities by the Federal Reserve Bank of Boston in 2007

9:45 - 10:00 a.mQ & A

For security reasons, all forum attendees must pre-register. No walk-ins will be allowed. Allattendees must present a valid photo ID to security at the Federal Reserve Bank.

Seating is limited! Please RSVP by Friday, February 16 to:Alba Alvarez at 617.416.6206 or at events@hacc.com

Richard Walker and Yolanda Kodrzycki Speak at the Fed February 21st

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The Hispanic-American Chamber of CommerceInvites you to a Breakfast hosted by:

Boston Private Bank & Trust Company

"Business Morning"Thursday, March 20th, 2008

Boston Private Bank & Trust CompanyTen Post Office Square – 2nd Floor, Great Room

Boston, MA 02109

8:30 - 9:00 a.m.Registration/Continental Breakfast

9:00 - 9:45 a.m.Welcoming Remarks

Mark D.Thompson, CEO, Boston Private Bank & Trust Company

Guest SpeakerRobert Everett, Senior Vice President,Boston Private Bank & Trust Company

“Subprime Loans - The Latest Infectious Financial Disease:Cause and Effects”

9:45 - 10:00 a.mQ & A

Seating is limited! Please RSVP by Friday, March 14, 2008 to:Alba Alvarez at 617.353.1114 or at events@hacc.com

Hispanic-American Chamber of Commerce

“Business Morning”

with featured guest speakersState Representative Hon. Jeffrey Sanchez,and Robert Nelson, Massachusetts DistrictDirector - U.S. Small Busines Administration

hosted by Fisher College

“Business After Hours”

Dr. Thomas M. McGovern, President of Fisher College

Left to Right, Maria D. Gonzalez, Business Coordinator Affirmative Program, Commonwealth ofMassachusetts, Vicente Lozada, President, Ameriprint Network, Rogelio Whittington, President/CEO,

CONTACTO, Inc, and Lara Suarez-Breu, Associate, Next Street Financial

Richard C. Walker, III, Vice President andCommunity Affairs Officer

Left to Right, Mark D. Thompson, CEO, Boston Private Bank, EstherSchloholtz, SVP, Boston Private Bank, Nader Acevedo, Robert H. Nelson,

Massachusetts District Director, U.S. SBA

Continued bottom page 12

Robert H. Nelson, Massachusetts District Director,U.S. SBA and Yolanda Villamil, Alpha Travel Agency

When Nader Acevedo arrived here morethan 30 years ago from his nativeColombia, it was to study business atBryant and Stratton College so he couldbe more successful in his governmentposition back home.

But when it was time to return to Medellin, herealized his family’s future was in Boston.

So Acevedo repaid his employer’s costs forsponsoring his American education andbegan working toward U.S. citizenship – anda very diverse career in finance and manage-ment. Since that profound decision, he hasworked for Shawmut Bank, Fleet BostonFinancial Group, the Massachusetts College

of Pharmacy and Health Sciences, a financialand accounting firm and Brigham andWomens Hospital.

“It was a bit of a surprising decision,” he

recalled. “I left behind a lifetime position with

a 24-hour-a-day driver for a life of uncertainty

in a new land.” He quickly found a job with the

city of Boston and invested $10,000 in a

home in Newton, where he still lives today.

Today, you will find Acevedo working out of anondescript building on South HuntingtonStreet, single-handedly reviving the fortunesof the Hispanic Chamber of Commerce ofGreater Boston.

“When I decided to take over the chamber,some of my business colleagues reacted likeI was crazy,” recalled Acevedo.

“But I am in my late 50s, my children are all

Each year, ACCESS recognizes the extraordinary accomplishments of individuals andorganizations committed to supporting Boston youth in reaching their full potential througheducational opportunity. In the city where public education began, Mayor Thomas M.Menino has committed himself to strengthening the quality of education for young peoplein every one of our city’s schools and neighborhoods. On May 29th, ACCESS will honorhim as Boston’s leading champion for increasing educational opportunity and access tohigher education for all of Boston’s youth at its 2008 Annual Fundraising Gala at theSeaport Hotel in Boston. Funds raised from the Gala support ACCESS’s high-qualityadvising and scholarship programs. In addition, a portion of the proceeds from the event will go towards creating the Thomas M.Menino Scholarship Fund at ACCESS for Boston students who matriculate at the University of Massachusetts-Boston.

ACCESS works to ensure that all young people in Boston have the financial information and resources necessary to achieve theirdream of a higher education. Since its founding in 1985, ACCESS has provided financial aid advising to nearly 40,000 Boston stu-dents and awarded millions of dollars in scholarships. Last year, ACCESS leveraged more than $26 million in financial aid for Bostonstudents. We provided financial aid advising for nearly 400 Latino students, and awarded scholarships to 57 Latino students.

ACCESS services are provided free of charge to students from every public high school and neighborhood in Boston. Most arethe first in their families to attend college, many speak English as a second language, and nearly all are from low or moderate-income families. ACCESS currently has three bilingual advisors providing support for Spanish-speaking students and families.By removing financial barriers, providing personal support and advocacy and staying with students throughout their collegecareers, ACCESS has put tens of thousands of youth people on the path to success.

For further information on the Gala, contact Carla Bennett, ACCESS Development Director, at 617-778-7195, extension 103. Tolearn more about ACCESS’s Financial Aid Advising programs and Last Dollar Scholarship, contact Melissa Sañez, Program Directorat 617-778-7195, extension 102. For additional information on ACCESS services, visit the website at www.accessboston.org.

college educated, I am a strong believer inthe economic power of the Latino community– and I believe that any and all businesses inthe state can be tapping into the Hispanicpopulation. “We are an emerging market thatis primed for economic development, onebusiness at a time, one block at a time, onecity at a time.”

Dressed impeccably in a suit and tie,Acevedo maneuvers around a cluttered mazeof small offices that belie the sophisticatedbusiness model he has attached to the cham-ber’s resurrection since he took it over threeyears ago.

A few hours earlier, Acevedo was hosting amorning breakfast in partnership with theFederal Reserve Bank of Boston in the GreatRoom of Boston Private Bank and TrustCompany, flanked by its CEO Mark D.Thompson and Senior Vice President RobertEverett, as the chamber welcomed nearly 80guests representing businesses such asState Street Bank, Telemundo, Wainwright

Bank, Bank of America, Verizon Wireless,Harvard University, TD Banknorth and MassGeneral Hospital.

On the agenda for the continental breakfast:discussions by the Federal Reserve on theregion’s housing market and community busi-ness development. The Chamber introducedthe new state director of the Small BusinessAdministration, Bob Nelson.

The breakfast was just one of many initiativesand partnerships Acevedo has forged withcompanies as diverse as Staples, NationalGrid (formerly KeySpan), Comcast, Citibank,Blue Cross/Blue Shield of Massachusetts,Stop & Shop, Sovereign Bank and CitizensBank.

Acevedo – with his long experience in financeand development – sees himself and thechamber as a unique broker between theincreasingly attractive Hispanic community ofGreater Boston and businesses seeking toexpand into this lucrative economic market.

His model is typified by his support of andpartnership in a recent initiative for the SmallBusiness Administration. The Emerging 200initiative is a jobs and growth stimulationeffort targeting promising inner-city smallbusinesses. Eleven cities nationwide havebeen selected to participate in the program.

The program will focus on small, poised-for-growth inner-city companies with the poten-tial for job creation. Participants will also havethe opportunityto work withexpe r i encedm e n t o r s ,attend work-shops anddevelop con-nections withbanks and theprivate equitycommunity.

May 2008 Hispanic-American Chamber of Commerce Visión Vol. IV No. 1 page 5Mayo 2008 Cámara de Comercío Hispano-Americana Visión Vol. IV No. 1 página 4

Member Focus

We believe decisions about your local business should be made locally. That’s what we do. And we have all the services to support your success.

Massachusetts SBA names Acevedo 2008 Small Business Minority Champion

Mr. Nader AcevedoExecutive Director, HACC

Mr. Acevedo will be honored for his award on May 22, 2008at a luncheon co-hosted by The Cape Business PublishingGroup at the Cape Codder Resort and Spa in Hyannis, MA.

Article excerpts from CapeBusiness

to Honor Mayor Thomas M. Menino

2008 ACCESS GALA

Member Focus

Mayo 2008 Cámara de Comercío Hispano-Americana Visión Vol. IV No. 1 página 6 May 2008 Hispanic-American Chamber of Commerce Visión Vol. IV No. 1 page 7

UPCOMING EVENTS!Alba Alvarez — Events Planner

2008 Celebrate Success Awards Luncheon co-sponsored by

The Cape Business Publishing Group and the U.S. SBA

Thursday, May 22nd, 2008, 10:45 a.m. – 2:30 p.m.

The Cape Codder Resort and Spa

1225 Iyannough Road (Route 132)

Hyannis, MA 02601

2008 ACCESS Gala

Thursday, May 29, 2008, 6:30 – 9:30 p.m.

Seaport Hotel, Plaza Ballroom

200 Seaport Boulevard, Boston, MA 02210

“Business After Hours” sponsored by Comcast Cable

Tuesday, June 10th, 2008, 5:30 – 8:30 p.m.

InterContinental Hotel

510 Atlantic Ave., Boston, MA 02110

“Business After Hours” sponsored by

Blue Cross Blue Shield of Massachusetts

Tuesday, June 24th, 2008, 5:30 p.m.

Landmark Center

401 Park Dr. - 4th Floor, Boston, MA 02215

For information about our educational program, please call Alba Alvarez, Event Planner, at 617.353.1114.

Massachusetts SBA Kicks Off E200 Jobs and Growth Initiative for Boston’s Inner City Businesses!

Steve Preston, Administrator, U.S. Small Business Administration, speaking to the attendees at the press conference.

Sanford "Sandy" Blitz, Regional Administrator,U.S. Small Business Administration

Robert H. Nelson, Massachusetts District Director, U.S. Small Business Administration

L to R: Reginal Nunnally, Program Director City of Boston, Sanford "Sandy" Blitz,Steve Preston, Nader Acevedo, Executive Director HACC, Ariel E. Schmidt,

Chairman of the Board HACC and Robert H. Nelson

Group of attendees to the press conference

L to R: Sanford "Sandy" Blitz, Steve Preston, Carol Bliss-Furr, Assistant Dean ofCorporate & Continuing Education, Roxbury Community College, Damell Williams,President & CEO, Urban League of Eastern Masachusetts and Robert H. Nelson

Participants will also have the opportunity to work with experi-enced mentors, attend workshops and develop connectionswith banks and the private equity community.

The SBA Emerging 200 training emphasis for business partic-ipants includes growth strategies, access to new forms of cap-ital, government contracting and federal mentorship.

SBA partners in this initiative includes: The City of Boston, TheHispanic American Chamber of Commerce of Greater Boston,Massachusetts Small Business Development Center

(MSBDC) State Office and the MSBDC Boston RegionalOffice/Minority Business Center.

Partners: Nader Acevedo, Executive Director of the HispanicAmerican Chamber of Commerce of Greater Boston; SandyBlitz, New England Regional Administrator, U.S. SmallBusiness Administration; Steve Preston, Administrator, U.S.Small Business Administration; Carol Bliss-Furr, AssistantDean of Corporate & Continuing Education, RoxburyCommunity College; Darnell Williams, President and CEO,Urban League of Eastern Massachusetts and Robert H.Nelson, Massachusetts District Director, U.S. Small BusinessAdministration

- Monitor their IM Use: In addition to cell phone texting,

IM is a popular form of communication with tweens and

teens. Consistent parental involvement is the best way to

build safe online habits in your children and quickly deal

with trouble, should it occur. Put your computer in a visible,

high trafficked area of your home. Also, consider using

software that allows you to control who and when your kids

can IM.

- Teach your kids about privacy: Talk to your children

about the importance of creating a screen name that does-

n’t reveal their personal identity or location. It doesn’t take

long for a predator to determine the age and location of a

child online. Also, make sure your children understand that

they should never reveal personal information over IM,

such as their age, address, or name.

- Limit IM use to approved buddy lists: IM allows preda-

tors to conceal or alter their identity that help lure children.

To help avoid this, review your child’s buddy list and make

sure you are familiar and comfortable with their contacts.

Also, discuss how easy it can be for a stranger to change

their identity online to draw your child into an initial conver-

sation that has untended consequences.

- Make sure your kids know the warning signs of online

predation: Discuss IM safety frequently with your kids and

make sure they understand to immediately report inappro-

priate activity or language to a trusted adult.

May 2008 Hispanic-American Chamber of Commerce Visión Vol. IV No. 1 page 9Mayo 2008 Cámara de Comercío Hispano-Americana Visión Vol. IV No. 1 página 8

Oferta termina el 30 de junio de 2008 y esta sólo disponible en zonas cableadas y con servicio de Comcast (y no puede ser transferido) y se limita a los clientes residenciales que cumplan con los criterios de elegibilidad que se apliquen. Oferta limitada a Starter Digital Cable, 6.0 Mbps High Speed Internet y servicio Digital Voice de Comcast y requiere la suscripción a los 4 servicios. DESPUÉS DE UN LAPSO DE 12 MESES O SI EL SERVICIO ES CANCELADO O BAJADO DE CATEGORÍA, APLICARAÁN LOS CARGOS REGULARES A MENOS QUE EL SERVICIO SEA CANCELADO. USTED PUEDE CANCELAR EL SERVICIO LLAMANDO AL 1-800-COMCAST. El cobro actual mensual de Comcast por los tres servicios varía entre $133.29 a $146.75, dependiendo de la zona y el cargo actual de Comcast para Canales Selecto son $8.95 adicionales por mes. Los servicios de Cable Digital y de Internet de Alta Velocidad se limitan a una sola toma. Servicio sujeto a las condiciones y términos esta�ndares de Comcast. Los precios mostrados no incluyen cargos de equipos e instalación, impuestos, cargos de franquicia o Tarifa Reguladora de Recuperación ni otros cargos aplicables (por ejemplo llamadas internacionales o cargos per-call). Aplica un cargo de activación de $29.95 para el Digital Voice de Comcast. No puede ser combinado con otras ofertas. Servicio de Cable: Algunos servicios están disponibles por separado o como parte de servicios de otra categoría. Se requiere la suscripción al Servicio Básico para recibir servicios de otra categoría. Se requieren un convertidor y un control remoto para los servicios On Demand. Las selecciones On Demand están sujetas al cobro indicado al momento de la compra. No toda la programación está disponible en todas las zonas. Servicio de Internet de Alta Velocidad: El servicio Powerboost provee aumentos de velocidades de carga y descarga de datos para los primeros 10MB y 5 MB de un archivo, respectivamente. Comparaciones de velocidad son entre el servicio Comcast 6.0 Mbps y el servicio Standard 768 Kbps DSL y 56 Kbps dial-up (bajadas solamente). Muchos factores afectan la velocidad. Las velocidades actuales pueden variar y no están garantizadas. Se requiere Cable modem. No todos los programas, incluyendo McAfee, son compatibles con sistemas Macintosh. El valor del McAfee está basado en el precio de venta del producto vendido por separado. Digital Voice de Comcast: El precio del paquete ilimitado aplica únicamente a llamadas marcadas directamente desde casa a lugares en los Estados Unidos, Canadá, Puerto Rico y otros territorios de los Estados Unidos. No hay una compañía de conexión de larga distancia separada disponible. El servicio de Digital Voice de Comcast (incluyendo los servicios de 911/emergencia) podría no funcionar después de un corte de luz extenso. Ciertos equipos del cliente pueden no ser compatibles con los servicios de Digital Voice de Comcast. Se requiere EMTA ($3.00 al mes para Comcast). Llámenos para restricciones y detalles completos o visite www.comcast.com. Comcast ©2008. Todos los derechos reservados. Todas las demás marcas registradas son propiedad de sus respectivos dueños. X3H-2

Hay cosas que nos unen.

1-866-814-5966comcast-ne.com/espanol

Cable Digital con Canal 1 On Demand tiene todos tus canales favoritos.

Internet de Alta Velocidad de Comcast es hasta 7.5 veces más rápido que 768Kbps DSL.

Digital Voice de Comcast te conecta a tus familiares y amigos sin preocupaciones.

¿Cuándo fue la última vez que le diste un regalo?

¡Regálale algo todos los días!

$33 Cada Unoal mes por un año cuando te suscribes a los tres servicios.

¡Obtén el paquete de Canales Selecto gratis por un año cuando te suscribes al Paquete Triple!

SBA - continued from page 1

printprint lifethe way you see it.

printprint lifethe way you see it.

978.368.1262 57 Plain Street Clinton, MA 01510 www.atlanticgraphics.com

Internet Safety- continued from page 1

Continued on page 11

May 2008 Hispanic-American Chamber of Commerce Visión Vol. IV No. 1 page 11Mayo 2008 Cámara de Comercío Hispano-Americana Visión Vol. IV No. 1 página 10

www.stopandshop.com

- Teach your kids that what they say there, can stay there:Make sure your children understand that an online chat tran-script can be easily saved and posted on many Internet andsocial networking sites and may remain there indefinitely. Thisinformation can later be referenced by colleges or potentialemployers.

An online reputation is an important asset to be protected!Using a few of the safety tips provided by Comcast atwww.comcast.net/security can help you and your family enjoyall the benefits of the internet and stay protected._______________________________

In 2007, The Hispanic American Chamber of Commerceannounced a new corporate partnership with Comcast, the one-stop shop entertainment and communications services provideroffering Digital Cable, High Speed Internet and Comcast DigitalVoice. Comcast established a footprint in the Hispanic marketwith their 2007 Pa’que te advertising campaign. In 2008 they hitthe ground running with a new campaign, “Hay Cosas Que NosUnen”. This campaign highlights how Comcast products andservices work together to bring families and friends closer.

Additional Online ResourcesHere’s a list of other web sites that you may want to visit.

• www.bytecrime.org - This site, which features McGruff theCrime Dog®, provides information that consumers can use toidentify and help protect themselves against threats like com-puter viruses, worms, spam, spyware, phishing, identity theft,and online predators.

• www.fbi.gov - This site provides links to your local FederalBureau of Investigation office, as well as comprehensive infor-mation about all aspects of the FBI and its services.

• www.pointsmartclicksafe.org - Includes a guidebook to keep-ing your family safe on the Web.

• www.projectonlinesafety.com - This online portal offers oneconsolidated point of access to a breadth of valuable onlinesafety tools and educational materials developed by technolo-gy companies, media organizations, and nonprofit groups.

• www.missingkids.com - The official web site of the NationalCenter for Missing and Exploited Children (NCMEC) providesresources for and about missing and exploited children. Thesite provides information about getting help if you have a miss-ing child, how you can help others who have missing children,and tips on teaching your child personal safety.

• www.netsmartz.org - NetSmartz provides online and offlinelearning activities for parents and educators that can be used

to facilitate discussions with children and teens about Internetsafety.

• www.getnetwise.org - A public service created by the Internetindustry and public interest organizations to help ensure thatonline users have safe, constructive, educational, and enter-taining online experiences.

• www.staysafe.org - A site that provides specific informationabout online safety for teenagers, parents, online users over50, and educators. The site includes a toolbox of detailed infor-mation and tips.

Internet Safety - continued from page 8

Hay cosas que nos unen.

Save the date!

Speakers include:

The Hispanic-American Chamber of Commercecordially invites you to attend an eveningreception and discussion

Hosted by Comcast

Tuesday, June 10, 20085:30pm - 8:30pm

InterContinental Hotel510 Atlantic AveBoston, MA 02210

Jay Opperman,Comcast Director of Privacy and Security

Special Agent Margarita Brito,from the Federal Bureau of Investigation

Hors d’oeuvres & Cash barReception raf�e will include a pair of Red Sox tickets.

Seating is limited! Please RSVP by Wednesday, June 4, 2008 to: Alba Alvarez at (617) 353-1114 or at events@hacc.com

Comcast is the nation’s leading provider of cable, entertainmentand communications products and services.

The Hispanic-American Chamber of Commerce is committed tothe economic development and success of the Hispanic businesscommunity in Greater Boston.

“Keepingyour familysafe online”

Hispanic-AmericanChamber of Commerce

Traditionally, investors in this marketand the firms that packaged the loanshad a strong interest in ensuring thatthe mortgages they bought weresoundly underwritten and would per-form well over time. The new invest-ment vehicles changed that. With tripleA ratings from bond rating agencies,these investment vehicles offeredinvestors a green light to enter the mar-ket without sufficient concern for thequality of the individual loans they werepurchasing.

The result was that none of the finan-cial players in this marketplace hadmuch incentive to investigate the quali-ty of the mortgages, from the mortgagebrokers and originators making theloans and selling them, to the Wall

Street firms that bundled them for saleto investors, to the investors that pur-chased them. Another result was theproliferation of abusive and deceptivelending practices and fraud on the partof mortgage brokers and originators.Some estimates put the level of fraud atas high as 75% of the subprime mort-gages in recent years. These condi-tions lasted as long as interest ratesremained low and housing values wereincreasing, so buyers who faced diffi-culties paying their mortgages couldsell or refinance if they got into trouble.When housing values began todecrease, the weakness in this systemstarted to show.

The presentation also highlighted howthese investment vehicles brought new

investors into this marketplace, therebyspreading the consequences of thesepractices throughout the global econo-my. In addition to Bear Stearns andother Wall Street companies in theheadlines, companies as diverse asEuropean banks and U.S. corporationscompletely unrelated to the financialservices or mortgage industries haveexperienced significant losses associ-ated with these investments.

As foreclosures rise and the impact ofthese losses continues to be feltthroughout the economy, there are callsfor action to address the problem. TheFederal Reserve Bank took theunprecedented step of providing liquid-ity to a non-bank financial institution tofacilitate the purchase of Bear Stearns.

Next Kodrzycki walked the audience throughMassachusetts economic trends going back to the reces-sion of the early 1990s. The data showed that the recentdownturn in housing prices, although a concern, is lessdramatic here than in parts of the country where theeconomy is more dependent on construction. Overall,Kodrzycki expects a weak first half of 2008, then a mod-est recovery.

Because foreclosure issues could extend into 2009, theBoston Fed would welcome ideas on reaching subprimeborrowers in the Hispanic community. Considerable infor-mation is already on Federal Reserve web sites:

• www.federalreserve.gov/pubs/foreclosure/default.htm, • http://www.bos.frb.org/consumer/mortgage/

espanol.htm, • www.theinformedhomebuyer.org.

The site for the Mortgage Relief Fund (http://www.mort-gagerelieffund.com) also has information in Spanish:

Presentación del Fondo de Asistencia para Hipotecas

Citizens Bank, Sovereign Bank, TD Banknorth, WebsterBank y Bank of America han asignado $125 millones enfondos para crear el Fondo de Asistencia para Hipotecas(Mortgage Relief Fund). Nuestra meta es ayudar a lospropietarios de viviendas elegibles en New England arefinanciarlas con préstamos de tasa fija más conven-cionales, los cuales satisfarán mejor sus necesidades.

¿A quién está dirigido este Fondo?

El objetivo de este Fondo es ayudar a los propietarios deviviendas quienes estén solventes con sus préstamoshipotecarios actuales, pero puedan estar teniendo dificul-tades para realizar los pagos en el presente y esperentener mayor dificultad para efectuarlos cuando reajustensus tasas.

Es parte de la solución, no del problema

Como ciudadanos corporativos que se preocupan por lascomunidades donde nuestros clientes viven y trabajan,Citizens Bank, Sovereign Bank, TD Banknorth, WebsterBank y Bank of America piensan que es importante ofre-cer este Fondo de Asistencia para Hipotecas a los propi-etarios de viviendas durante estos tiempos difíciles.

May 2008 Hispanic-American Chamber of Commerce Visión Vol. IV No. 1 page 13Mayo 2008 Cámara de Comercío Hispano-Americana Visión Vol. IV No. 1 página 12

La energía de la acción

¿Está interesado en convertir al gas natural? El gas natural de National Grid es limpio, eficiente y mejor para el ambiente y su familia.Representa una verdadera inversión en su hogar o su negocio.

Llama hoy mismo al 1.800.GAS.2001

National Grid se complace en

ser parte de crear un mejor

ambiente para las familias que

servimos. Es por eso que nos

enorgullece participar en la

Cámara de Comercio Hispano

Americana de Boston.

Boston Private Bank - continued from page 2

Corporate SponsorsGold

n City of Boston - Department of Neighborhood Development

n Sovereign Bankn Comcast Cablen Citizens Bank

Silvern Blue Cross Blue Shield

of Massachusettsn KeySpan Energy Deliveryn Boston Red Sox

Coppern Stop & Shop

n Boston Private Bankn Fisher Collegen Initiative For A New Economy

n El Mundo Newspapern Hispanic News Press l El Planetan Telemundo Boston

Corporate Partners

Media Partners

Federal Reserve Bank - continued from page 2

Continued on page 15

Este programa en particular no está diseñado para losprestatarios que se encuentren morosos en los pagos desus hipotecas o quienes enfrenten una ejecución inminentede la hipoteca. Los prestatarios en esa difícil situacióndeben contactar al proveedor de su hipoteca lo antes posi-ble o a un servicio de asesoría en hipotecas como laHomeownership Preservation Foundation por el888.995.HOPE.

The Public and Community Affairs department is hoping toget the word out on the 1-888-995-HOPE homeowner assis-tance number (extension 2 for Spanish), which offers freecounseling. Outreach suggestions from Chamber membersor offers of help in this effort may be directed to PrabalChakrabarti at Prabal.Chakrabarti@bos.frb.org. The FederalReserve is eager to provide homeowner brochures inSpanish to businesses and community groups able to makethem available to homeowners.

There is also a call to restructure the regulatory agenciesthat oversee the banking system, and for Congress and theWhite House to provide assistance to homeowners that areexperiencing difficultly with their mortgage payments. Mr.Everett said that it remains to be seen whether these effortswill be sufficient to head off a further downturn in the econ-omy.

Esther Schlorholtz, Community Investment Director andSenior Vice President commended the presentation. “TheBank is very pleased to partner with HACC on its businessmorning event series. This presentation is a great exampleof how Boston Private can add value for the Hispanic-American business community, and we look forward to thenext program.”

May 2008 Hispanic-American Chamber of Commerce Visión Vol. IV No. 1 page 15Mayo 2008 Cámara de Comercío Hispano-Americana Visión Vol. IV No. 1 página 14

Jumpstart Your Business: Helping Latino-owned Businesses Grow to the Next LevelFriday, October 20, 2006

8:00 – 8:45 a.m. – Registration and Continental Breakfast

8:45 – 10:15 a.m. - Marketing Your Business: How to Start Bringing In More Business This workshop will focus on powerful and cost effective marketing methods and strategies that new businesses as well

as existing businesses can utilize to promote their businesses, attract new customers, and ultimately jump start sales.

Presented by: Phyllis Kassels, Boston Score Counselor

8:45 – 10:15 a.m. - Organizing and Growing a Business The workshop will focus on issues surrounding organizing and growing a business including choice of entity, tax

considerations, financing options and shareholder agreements. The workshop will also review a variety of alterna- tives available to businesses that are interested in growing by purchasing or combining with other business organizations including mergers, acquisitions and joint ventures.

Presented by: Ferdinand J. Alvaro, Jr., Partner and Douglas A. Fleming, Corporate/Tax Associate Adorno, Yoss, Fitzhugh, Parker & Alvaro

10:30 a.m. – 12:00 p.m. - Have you ever dreamed of owning your own business? This workshop will provide attendees with a practical approach on how to start their own business as well as,

provide information on available resources. Attendees will learn the basics of starting a business, from how to review the feasibility of your idea to how to assess your ideal market; evaluate the current economy and the basics of starting a business. The discussion will also include technical assistance resources and micro-loans available through the City and their network of non-profit community service providers and partners. You will also hear from two Latino entrepreneurs who are successfully running their own businesses.

Lead by the City of Boston’s Office Boston Business Assistance Center and presented by:André M. Porter, Deputy Director, Office of Business DevelopmentJuan-Carlos Ferrufino, Business Development and Training SpecialistAnna G. Kerr, Online Consultant and Business CoachGustavo Pena, Investment Representative, Edward Jones Investments

10:30 a.m. – 12:00 p.m. - Financing Strategies and Successful Loan Proposals for Small Businesses This workshop, presented in three segments, will provide an overview of financing strategies and considerations

(including types of financing, sources of capital, and business planning); an overview of SBA technical and loan assis-tance programs; and an overview of lending practices and the loan application process.

Presented by:Mark Allio and Michael Dimino, Business Counselors, Small Business Development Center (SBDC) at UMass BostonArmando Fernandez, U.S. Small Business Administration, Lender Relations SpecialistBrenda Jovenich, Vice President Commercial Lending, and Joseph I. Fernandez, Vice President Business Banking Group, Citizens Bank

Master of Ceremonies:

Jorge QuirogaEmmy Award Winning ReporterWCVB-TV Boston

Resource Partners:

Sponsored & Hosted by:

Jumpstart Your Business: Helping Latino-owned Businesses Grow to the Next LevelFriday, October 20, 2006

8:00 – 8:45 a.m. – Registration and Continental Breakfast

8:45 – 10:15 a.m. - Marketing Your Business: How to Start Bringing In More Business This workshop will focus on powerful and cost effective marketing methods and strategies that new businesses as well

as existing businesses can utilize to promote their businesses, attract new customers, and ultimately jump start sales.

Presented by: Phyllis Kassels, Boston Score Counselor

8:45 – 10:15 a.m. - Organizing and Growing a Business The workshop will focus on issues surrounding organizing and growing a business including choice of entity, tax

considerations, financing options and shareholder agreements. The workshop will also review a variety of alterna- tives available to businesses that are interested in growing by purchasing or combining with other business organizations including mergers, acquisitions and joint ventures.

Presented by: Ferdinand J. Alvaro, Jr., Partner and Douglas A. Fleming, Corporate/Tax Associate Adorno, Yoss, Fitzhugh, Parker & Alvaro

10:30 a.m. – 12:00 p.m. - Have you ever dreamed of owning your own business? This workshop will provide attendees with a practical approach on how to start their own business as well as,

provide information on available resources. Attendees will learn the basics of starting a business, from how to review the feasibility of your idea to how to assess your ideal market; evaluate the current economy and the basics of starting a business. The discussion will also include technical assistance resources and micro-loans available through the City and their network of non-profit community service providers and partners. You will also hear from two Latino entrepreneurs who are successfully running their own businesses.

Lead by the City of Boston’s Office Boston Business Assistance Center and presented by:André M. Porter, Deputy Director, Office of Business DevelopmentJuan-Carlos Ferrufino, Business Development and Training SpecialistAnna G. Kerr, Online Consultant and Business CoachGustavo Pena, Investment Representative, Edward Jones Investments

10:30 a.m. – 12:00 p.m. - Financing Strategies and Successful Loan Proposals for Small Businesses This workshop, presented in three segments, will provide an overview of financing strategies and considerations

(including types of financing, sources of capital, and business planning); an overview of SBA technical and loan assis-tance programs; and an overview of lending practices and the loan application process.

Presented by:Mark Allio and Michael Dimino, Business Counselors, Small Business Development Center (SBDC) at UMass BostonArmando Fernandez, U.S. Small Business Administration, Lender Relations SpecialistBrenda Jovenich, Vice President Commercial Lending, and Joseph I. Fernandez, Vice President Business Banking Group, Citizens Bank

Master of Ceremonies:

Jorge QuirogaEmmy Award Winning ReporterWCVB-TV Boston

Resource Partners:

Sponsored & Hosted by:

Federal Reserve Bank - continued from page 13

Boston Private Bank - continued from page 13