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Social networking sites such as Facebook, Myspace, and Twitter have allowed people to share their lives in a manner that has never been possible before. Facebook alone has more than 200 million members, and with hundreds of thousands of people signing on and joining these sites every day the whole world is literally just a friendship request away.
Even as companies are restructuring their operations to better manage products and services, they are still committed to charitable giving, but with a slight spin. In fact, the Council on Foundations (www.cof.org), a membership association of more than 2,100 grant making corporations and foundations, defines the “new philanthropy†as much more than a tax deductible check, but a strategic business imperative.
David A. Paterson’s first year as governor of New York can be aptly characterized as a baptism by fire. He’s had to contend with a financial firestorm that has torched the fortunes of Wall Street—and with it a huge chunk of much-needed state tax revenues. Like governors across the nation, New York’s first African American chief executive seeks to correct the largest budget shortfall in state history. His proposed $121 billion budget with its massive tax hikes, huge service cuts, and other “extreme measures†continues to fuel fiery debate among state legislators, public employee unions, and citizen groups. (At press time, Paterson was seeking to use federal stimulus funds to retool his budget proposal.) In early March, his approval rating stood at 26%.
Sherley Bretous-Carré and Edenswear Carré still believe in the American dream. Starting in 2002, the Carrés began investing in real estate as a way to build wealth. Over the years, they purchased two homes and two plots of land, amassing a tiny real estate empire that spans three states—their home state of Massachusetts, plus Florida and Texas. The Carrés carefully plotted their road to prosperity, and it was all going smoothly until the real estate boom came to a sudden halt. Now, confronted with declining home values and an economic meltdown, owning multiple properties feels, to the Carrés, more like a stranglehold than a savvy wealth-building strategy.
Bank of America Corp. named Walter E. Massey, a longtime director and president emeritus at Atlanta's Morehouse College, its new chairman, effective immediately.
