John B. Rhea to Head New York City Housing Authority
Former Lehman Brothers executive John B. Rhea, 43, will take over as chairman of the New York City Housing Authority (Nycha), the nation’s largest public housing authority, June 1.
In announcing the appointment last week, Mayor Michael R. Bloomberg cited Rhea’s more than two decades of investment banking and private sector experience. However, critics are concerned that Rhea has no experience in affordable housing management.
“John will bring new dynamic leadership and innovative thinking to managing Nycha at a particularly challenging time for public housing,” said Bloomberg at a news conference last week. “John’s experience makes him the perfect person to lead our efforts to create long-term financial stability at the Authority, and to ring in a new era of transparency and agency responsiveness to improving resident and community quality of life.”
Acknowledging his lack of experience in the public housing sector, Rhea said: “I have not only managed within large complex organizations in which NYCHA clearly is. I’ve also managed multi-billion capital dollar budgets.â€
Rhea takes over an agency with a $137 million annual deficit and a history of mismanagement and maintenance problems — most notably unsafe elevators. He is replacing Tino Hernandez, who held the post for seven years before leaving in November.
A graduate of Wesleyan University who also holds a Masters of Business Administration from the Harvard Business School, Rhea began his career at PaineWebber Inc., and most recently served as managing director and co-head of global consumer/retail group at Barclays Capital (formerly Lehman Brothers).
The Nycha provides affordable housing to more than 402,000 people in 340 housing developments and 178,000 apartments. It also administers the nation’s largest Section 8 program, which assists more than 95,000 families in renting apartments in private homes.
–Deborah Creighton Skinner
Despite Family Infighting, DreamWorks to Film MLK Biopic
Despite opposition and threatened legal action from members Martin Luther King Jr.’s estate, DreamWorks still wants to make a movie about the slain civil rights leader if his feuding children can reach an agreement, the movie studio said Wednesday.
DreamWorks announced a deal this week with the King Estate for a film about the civil rights icon. Bernice King and Martin Luther King III are against the movie. Their brother Dexter, who oversees the estate, signed off on the deal.
“The purpose of making a movie about the life
of Dr. Martin Luther King Jr. is to tell a great story which could bridge distances and bring people together,” said DreamWorks spokesman Chip Sullivan in a statement given to the Associated Press. “We remain committed to pursuing a film chronicling Martin Luther King’s life provided that there is unity in the family so we can make a film about unity in our nation. We believe this is what Dr. King would have wanted.”In announcing the biopic, DreamWorks said the film would be the first big-screen portrayal of the 1964 Nobel Peace Prize winner that would be authorized by the estate and use King’s intellectual property, including copyrighted speeches and other works, as the basis for the film, according to the AP. Steven Spielberg was listed as a co-producer.
“I sincerely believe that the film project we have been working on with DreamWorks … offers an unprecedented opportunity for educating the largest possible audience about our father’s legacy as the leader of America’s greatest nonviolent movement,” Dexter King said in a statement.
Bernice King and King III have been feuding with their brother for years, accusing him of hurting their parents’ legacy. In March, the siblings were upset about an $800,000 licensing deal Dexter made with the Martin Luther King Jr. Memorial Foundation, which is building a monument to King on the National Mall in Washington, D.C. The three are also embroiled in three lawsuits involving their parents’ estates
–Deborah Creighton Skinner
Operation Hope Launches Financial Literacy Site for Students
Earlier this week, Operation HOPE and E*Trade launched a new Website designed to give young adults the tools to start their journey to financial freedom.
BankingonOurFuture.org offers free online access to a financial literacy program that teaches students ages nine to 18 the basics of banking, credit, checking, savings, borrowing and investing, and other key money management topics.
“We must teach our youth the ‘language of money’ — the importance of respecting, saving and spending money wisely — in order to resolve many of the social and economic issues our world faces today,†said John Hope Bryant, founder and CEO of Operation HOPE. The California-based organization is dedicated to promoting financial literacy and empowerment in low-wealth, underserved communities.
The courses include Web video modules designed for elementary, middle and high school/adult level students. Teachers may request volunteer banker-teachers to participate in live classroom sessions.
–Renita Burns
Navy to Remain on GlobalHue Client Roster
GlobalHue (No. 1 on the BE Advertising Agencies list with $379.5 million in billings) will continue it’s relationship with the U.S. Navy after being selected as part of a three-agency team to manage the organization’s multicultural marketing and advertising campaign initiatives across the African-American and Asian consumer markets.
The contract, which was announced this week, includes strategic planning, creative services and marketing communication efforts.
“GlobalHue is excited to use our unique strategic business model to strengthen and direct Navy’s African-American and Asian outreach initiatives,†said Allen Pugh, vice chairman of GlobalHue. “As an agency, GlobalHue continues to think out of the box to demonstrate the depth of our expertise and creativity in reaching multicultural segments.â€
GlobalHue has worked with Navy since 2000 and is responsible for award-winning African American- targeted campaigns including “Person in Me†and “Anchor.â€Â Recently, the agency conceived and launched Mynavymyfuture.com, an interactive microsite for college students that focuses on Navy collegiate programs and careers.
The Navy creative has been honored with some of the industry’s most coveted awards including the American Advertising Federation Mosaic Award for Outstanding Multicultural Adverting Campaign.
Also, the Bermuda Department of Tourism will continue its relationship with the company as its official advertising agency of record.
–Janell Hazelwood