Financial Institutions That Take the Time to Understand the Latino Market Segment will Emerge on Top

The latest reports show that only 16 percent of Hispanics own individual stocks and mutual fund shares compared with 23 percent of non-Hispanics, regardless of the statistics confirming the vast number of Hispanics who live in the United States. The most recent study, conducted by the Pew Hispanic Center demonstrates that the financial status, practices and even attitudes towards investing and money among Hispanics can vary depending on an individual’s nationality of origin.

Hispanics are an ethnicity, not a race and we come in all sizes and colors. By putting a “brown” picture on a brochure in an attempt to attract our business, some companies are alienating a vast portion of our population. We are “vegetable soup” of Spanish-speaking people.
Financially speaking, our efforts go to provide food, shelter and warmth. Whether we have just managed to cross the border by foot, crossed the ocean, or landed at an airport, the first step in this great new country is to find a place that we can call home. Any extra money gets sent across the border to help our loved ones back home.

Most of us move through the first years very slowly. Our main enemy is our own mind. Some 52 percent of the foreign-born Latinos believe that it doesn’t do any good to plan for the future because we have so little control over it. We are now learning to move from the “I can’t afford it” to the “how can I afford it” mentality. We need permission to dream and need to be guided on how to turn those dreams into attainable financial goals. After we begin to figure out how the money system works, we move from the realm of “needs” to the area of “wants.” It’s time to find out about banking, establishing credit, car purchases and better employment.

Statistics show that almost half of foreign-born Latinos do not have a bank account—loosely termed, they are “The Un-banked.” By the way, if you are waiting for us to come into your bank and ask about your services, you will be sadly disappointed. Go to our supermarkets—we are there often because we buy more food. We buy more food because we have more mouths to feed. Help us understand how to benefit from your wares. Show us how to become part of the banking system, even if we don’t have legal residency. When it comes to money matters, it is still more comfortable to hear the guidance and instructions in Spanish.

The best part is that it pays off for corporate America to help us. Companies like Coca-Cola, Sears, Anheuser-Busch, Procter & Gamble and State Farm have seen the fruit of their labor when it comes to building brand loyalty among Hispanics. Now it’s the turn of the financial institutions. The first ones to understand the contribution of the Hispanic community to profitable revenue growth will be in the best position to thrive over the long-term.

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Hennesy Celebrates Bicentennial of Mexican Independence with Commemorative Bottle and Gift Box Set

Hennessy, the number one selling cognac in the United States, announces a limited edition bottle in tribute to the 200th anniversary of the independence of Mexico. Elegantly presented, each bottle is individually- numbered and packaged in a collectible gift box wrapped with vintage art showcasing Hennessy's proud legacy in Mexico. Both the bottle and box distinctively feature the official "Mexico 2010" seal. Hennessy's unique commemoration of this cultural milestone makes this launch especially significant and prestigious within the Mexican community.

Product unveilings counting down to the bicentennial (Sept. 16, 2010) will featuring Mexican soccer legend Luis Hernandez. Celebrations in Los Angeles, San Jose, Chicago and Houston will showcase the special packaging, new cocktail recipes, and interview opportunities with Hernandez and Hennessy executives. "It is Hennessy's privilege to be part of Mexico's rich heritage and cultural celebrations," said Manny Gonzalez, director of Hispanic Marketing for Hennessy. "Hennessy was the spirit of choice 200 years ago as Mexican soldiers and civilians toasted to their victory in battle. We are proud to recognize this powerful legacy and honor the 200th anniversary with an exclusive, commemorative box set perfect for gifting."

In keeping with the brands authentic connection to the Mexican community, Luis Hernandez, known for being the highest goal scorer in World Cup competition for the Mexican national football team, will serve as the ambassador for the launch of Hennessy's Mexico 2010 bottle.

"I am proud to be part of Hennessy's Mexico 2010 launch," said Hernandez. "I value and respect that Hennessy Privilege created a special, limited edition bottle to commemorate this once-in-a-lifetime cultural celebration." The limited edition Mexico 2010 gift box sets will be available for sale beginning in August at select retail locations in Arizona, California, Colorado, Illinois, New Mexico and Texas as well as in Mexico while quantities last. The suggested retail price per 750ml bottle is $44.99-49.99

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Save-A-Lot Announces Affiliation with Local Hispanic Operator

Six stores operate under new co-branded format

Save-A-Lot, one of the nation's leading hard discount, limited assortment grocery chains and a division of SUPERVALU, and Hispanic grocery operator Mr. Rafael Ortega recently announced that they have joined together to form a new company, Adventure Supermarkets LLC. The new company owns and operates six former Save-A-Lot stores in the Houston and South Texas markets under a co-branded format, “El Ahorro Save-A-Lot.”

“We are always looking for innovative opportunities to bring the Save-A-Lot brand to local communities, and we think this affiliation best enables us to serve the Hispanic community in this area,” said Bill Shaner, Save-A-Lot president and CEO. “This relationship is a new business model for the company.

Combining Mr. Ortega’s local insights with the power of the Save-A-Lot network of stores and exclusive-label expertise will enhance our ability to provide our Hispanic customers in this part of the country
with the products and services they need and want, while positioning the Save-A-Lot brand for growth.”

Mr. Rafael Ortega has 24 years of experience in serving the Hispanic community in Texas and currently owns and operates 15 El Ahorro Supermarkets and almost 100 La Michoacana Meat Markets.
“I am pleased about joining with Save-A-Lot in this opportunity and excited about the potential of our new, blended format,” said Rafael Ortega.

The six stores, which are located in Brownsville (one store), Victoria (one store), Harlingen (one store) and Houston (three stores), Texas, began operating under the new co-branded name, “El Ahorro Save-A-Lot,” at the end of May.

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President of University of Houston-Downtown Joins Call for DREAM Act

William V. Flores, president of University of Houston-Downtown, voiced his desire for passage of the DREAM Act (Development, Relief and Education for Alien Minors). He spoke on a conference call with college presidents from Northern Virginia Community College, Eastern Washington University and the University of California, Berkeley.

If passed by Congress, the DREAM Act would give undocumented immigrants brought to the U.S. as children a shot at permanent residency status, provided they have lived in the country for at least five years without getting in trouble with the law, that they have a high school diploma or equivalency and that they commit to two years of college or military service. According to recent polling, it has widespread support among U.S. voters.

UH-Downtown plays host to about 13,000 students in the middle of, as Flores noted, a "very international city." Approximately 39 percent of the school's students are Hispanic, 29 percent are black, 22 percent white, 5 percent are Asian and 5 percent are international students. Flores said that about 200 or fewer students would be affected by the DREAM Act.

"Tragic" is the word Flores used to describe the plights of students who are held back due to residency status. Many, he said, often can't speak or read their native language because they immigrated at such a young age. He says the DREAM Act would provide a necessary pathway to achievement. "It would be a very unusual way of treating someone to not allow them to contribute," Flores said. "Many of them want to become teachers, doctors, or lawyers and contribute to this society."

On the call, supporters of the act said that while the odds of a congressional vote on more comprehensive immigration reform coming this year appear to be dwindling, it might be easier, in the meantime, to secure passage of the DREAM Act on its own given the bipartisan nature of its support.



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Employers Still Giving Raises, Mostly to High Performers

U.S. employers are reporting a 2.5% average salary budget increase across all employee categories for 2010, which means many employees may expect a base pay raise of around 2.5% before the year is over.

However, the size of the raise changes when the employee’s performance is factored in. Low performers can expect to see minimal increases of up to 0.7% or nothing at all, middle performers might expect a nominal base pay raise of 2.4%, and high performers may expect an average of 3.7% (54% higher than a middle performer). Surveyed employers reported that roughly 24% of employees are rated as high performers, while most are classified as middle performers.

These were just a few of the conclusions drawn from the annual WorldatWork 2010-2011 Salary Budget Survey, the largest survey of its kind with 2,497 respondents representing 15.5 million U.S. employees.

Top Places for Top Performers
Metro area is another variable influencing the size of salary increases for top performers. While surveyed employers reported an average pay increase of 3.7% for exceptional performers, employers in the following metro areas reported above-average base pay increases for the cream of the crop:

Metro Average raise for top performers*
San Jose, Calif. 4.10%
Boston, Mass. 4.00%
Portland, Ore. 4.00%
Seattle, Wash. 4.00%
Houston, Texas 4.00%
Detroit, Mich. 4.00%
Washington, D.C. 3.90%
Atlanta, Ga. 3.90%
San Diego, Calif. 3.90%
Tampa, Fla. 3.90%

*Based on average pay increases for top performers, percentage of companies awarding raises (not shown) and percentage of employees classified as high performers (not shown).

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U.S. Government Renews GobiernoUSA.gov to Engage Hispanics

The GobiernoUSA.gov, the official portal of the US Government in Spanish, unveiled a new site design with new and improved features. The new design is based on user testing, usability best practices, and feedback gathered from a public dialog called “Your Voice Matters." The redesigned GobiernoUSA.gov makes an already valuable resource for the Hispanic online community even better.

The new design is strikingly simple. Online Hispanics can now navigate a wealth of official Spanish language government information through an intuitive and elegant interface designed to help visitors find the information they need most.

Up-to-date content is now front and center, with clear home page links to timely government resources on most sought after information and GobiernoUSA.gov’s original Spanish-language articles. It’s now easier for Spanish speakers to find GobiernoUSA.gov’s plain-language easy-to-understand stories on timely and relevant topics such as the features of the new green card, what to expect from an airport security screening, or summer safety tips.

Spanish preferring users can now easily engage with GobiernoUSA.gov through Facebook, Twitter, YouTube, RSS, and a widget all accessible from the “Connect with Government” bar on the bottom of each page.

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After the Merger of two top Magazines, PODER Hispanic Magazine Becomes the Leading Latino Magazine in Its Category

The merger of PODER and Hispanic Magazines to create PODER Hispanic, a Hispanic-focused business and lifestyle publication, has been announced. With this merge, PODER Hispanic will increase circulation from 125,000 to 400,000. This will make PODER Hispanic by far the most important magazine reaching Hispanic leaders, doubling the circulation from 1.2 million to 2.4 million copies a year.

PODER Hispanic retains the look of the former PODER Enterprise, while incorporating several features of Hispanic magazine, including the popular Julie Stav column. PODER Hispanic will continue to offer readers what it likes to call "intelligence for the business elite," but will now be adding a little more Latino lifestyle flavor to the editorial menu.

The Pew Research Center estimates Hispanics of all ethnicities will number 128 million in 2050, accounting for 29 percent of the population. By combining coverage of business and lifestyles, PODER Hispanic hopes to show the rest of the country what the Hispanic community offers to the U.S., whether through the creation of badly needed new jobs, or cultural diversity. This month the magazine features on its U.S. cover the captain of the U.S.A. soccer team, Carlos Bocanegra, who has Mexican roots.

Under the direction of Isaac Lee, the magazine's founder and Editor in chief, the Miami and U.S. editions are now led by award-winning journalist David Adams.

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Nearly 10 Million Latinos May Benefit From Affordable Care Act

The United States Department of Agriculture, Food Nutrition Services (USDA, FNS), the Department of Health and Human Services (DHHS), and public health officials joined the League of United Latin American Citizens (LULAC) to highlight ways in which the Affordable Care Act will make health insurance more accessible and affordable to the nine million Latinos that will be eligible to receive health coverage under the new public health law.

"Health Care Reform brings us closer to establishing health care as a civil right," said LULAC President , Rosa Rosales. "With one in three Latinos lacking health insurance coverage, Hispanic families have suffered more than any other ethnic group due to lack of coverage and inadequate care."

As one of the leading Hispanic organizations in support of the passage of the Affordable Care Act, LULAC will focus its attention on ensuring that:
•Discriminatory health practices are eliminated
•Insurace companies do not drop health coverage because an individual becomes sick
•Preventative care such as mammograms, immunizations and screenings for cancer or diabetes will be utilized by Hispanics especially since the out-of-pocket costs will no longer be required for these health screenings
•Medicare recipients have access to rebate checks for prescription drugs

Hispanics are disproportionately impacted by chronic health conditions, and face disparities in accessing health care and the quality they receive. Even when Hispanics and non-minorities have the same types of insurance, racial and ethnic minorities receive lower quality care or live in neighborhoods where quality health professionals and services are not available.

The health status of Latino communities is an issue that demands immediate and ongoing attention, advocacy, and education. In an effort to combat the obesity epidemic among Hispanics, LULAC has partnered with the Robert Wood Johnson Foundation and is spearheading the Latinos Living Healthy initiative. This initiative will provide greater access to affordable and healthy foods for Hispanic families and will focus on creating and supporting safe spaces for physical activity for children and families.

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5 Tips for Safe Online Shopping

Shopping online is a great way to find deals. But, if you're not careful, you could be putting your personal information at risk of being stolen by identity thieves.

Michael Gregg, a cyber security consultant for Fortune 500 companies and the federal government, says the volume of attacks that target Internet users has been on the rise this year. However, he says there are several steps you can take to protect yourself while shopping -- or doing anything -- online.

1. Never shop online from a public Wi-Fi connection. Hackers can tap into Wi-Fi connections at hotspots, such as coffee shops, airports and hotels, to capture your personal information. If you must use public Wi-Fi, you can download for free the AnchorFree HotSpot Shield to hide your IP address while you're online and protect your computer from snoopers. Also, never use a public computer to shop or check accounts online.

2. Don't use your smartphone to shop. Hackers can use the same tactics for tapping into your smartphone as they use for your laptop or PC.

3. Don't use your debit card for online shopping. If hackers steal your debit-card information and raid your bank account, you must report any misuse within two days to get the same $50 limited liability as you would with a credit card. Miss that deadline but report your loss within 60 days and you could be liable for up to $500. After 60 days, your liability is unlimited. If you don't like using credit cards, though, consider using EBillme to make secure cash payments when shopping online.

4. Shop online only at known retailers. Don't let a search engine pick a site for you because it could be bogus, Gregg says. Even if you're using a site that you think is legitimate, look for security labels, such as VeriSign and Cybertrust, and for https:// to appear in the url on pages that prompt you to enter personal information. Also consider downloading McAfee's free SiteAdvisor, which tests sites for dangerous downloads, spamming and more.

5. Don't click on pop-up ads. Hackers recently have posted bogus ads with malicious software on legitimate sites (NYTimes.com, for example). Online retailers will be susceptible to these attacks, Gregg says.
And remember, keep your guard up even when you're shopping in stores this holiday season.

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Seven Lessons for Leaders Charged with Leading their Organizations Through a Crisis

1. Leaders must face reality. Reality starts with the person in charge. Leaders need to look themselves in the mirror and recognize their role in creating the problems. Then, they should gather their teams together and gain agreement about the root causes. In order to understand the real reasons for the crisis, everyone on the leadership team must be willing to tell the whole truth. Leaders can’t solve problems if they don’t acknowledge their existence.

2. No matter how bad things are, they will get worse. Faced with bad news, many leaders cannot believe that things could really be so grim. Consequently, they try to convince the bearers of bad news that things aren’t so bad, and swift action can make problems go away.

3. Build a mountain of cash, and get to the highest hill. In good times, leaders worry more about earnings per share and revenue growth than they do about their balance sheets. In a crisis, cash is king. The question is, “Does your organization have sufficient cash to survive the direst circumstances?”

4. Get the world off your shoulders. In a crisis, many leaders act like Atlas -carrying the weight of the world on their shoulders. They go into isolation, and think they can solve the problem themselves. In reality, leaders must have the help of all their people to devise solutions and to implement them.

5. Before asking others to sacrifice, first volunteer yourself. If there are sacrifices to be made – and there will be – then the leaders should step up and make the greatest sacrifices themselves. Everyone is watching to see what the leaders do.

6. Never waste a good crisis. When things are going well, people resist major changes or try to get by with minor adaptations.

7. Be aggressive in the marketplace. This may sound counter-intuitive, but a crisis offers the best opportunity to change the game in your favor, with new products or services to gain market share.
Adapted from a WSJ column by Bill George, author of “True North” and former CEO of Medtronic.

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Business Corner

Freebirds World Burritos

Since 1987 from coast to coast, Freebirds World Burrito has been expanding their tasteful burritos. Houston will soon welcome more locations where we can enjoy the diversity of their menu.



With 4 different sizes of burritos, and with 3 different types of meats and 1 vegetarian option there are numerous combinations that may satisfy your hunger. Although burritos are the house specialty, for those who like to eat a little bit lighter, one can also enjoy delicious tacos, quesadillas, and salads.

Latest opening scheduled for August 10
3745 Greenbriar Street
Houston, TX 77098-4005
713 524 0621
website

Zimm’s Little Deck

Zimm's Little Deck is a casual mix of Cajun and French cuisine. It is a combination of fancy icehouse, seafood bar and po’boys.



Second generation of Zimmermans, Dan and Mark Zimmerman, are getting in the Montrose action. Trying to bring something new to the table, their menu will include crab claws, frutti di mare, crawfish remoulade, oysters and sandwiches. For refreshing drink options they included plenty of craft beers in cans —wine list split between "cheap," "decent" and "good."

Scheduled to open in August.
601 Richmond Avenue (corner from La Colombe d'Or and Zimm's Martini and Wine Bar)
website

Chef Suggestions

Chef Isaac Alvarez

Chef Isaac Alvarez made his great debut in Houston when he and his brother, Jorge, opened OCEAN’S this past June. Specializing in ceviche, as well as other delicious creations from the sea, their restaurant has already made its mark on the Montrose area.



For many years Chef Alvarez visited Houston and fell in love with the city. When he suggested to his brother to open a restaurant of their own, he was hesitant. After two years of preparation- trying to develop the concept, he presented his idea, again. This time, Jorge accepted.

Although Alvarez first specialized in pasta, he throughout his 5 years of experience has now developed a special interest in seafood. Traveling and visiting different restaurants around the world developed in him a unique vision and cooking style.

Out of all the options on the menu, which is your favorite and why?

Taco Maximiliano is my favorite. I experimented with a lot of ingredients until I reached the flavor, texture and smell I wanted in a shrimp taco. At first I didn’t know how to call it, but finally I decided to name it after my son Maximiliano.

What would you recommend for a first time visit?

I recommend Ceviche yellowtail. When you taste it, it transports you to faraway lands full of colors, flavors and exotic scents. I suggest to our clients to enjoy it with a cold margarita.

website

Events
 

August 12
Member Orientation

09:00 AM
HHCC Office
Mark Madrid - 713.644.7070
Reliant Energy and Co-Sponsored by ING.

August 17
Lunch & Learn:Building An Effective Pipeline

11:30 AM - 1:30 PM
University of Houston Small Business Development Center
2302 Fannin, Suite 200
This Lunch & Learn includes real life examples and suggestions on how you can increase your bottom line by understanding and implementing business development strategies.
Contact:
Abby McFarland
email
713  844 3692

August 28
2010 World Trade Soiree

7:00 PM - 12:00 PM
Hotel ZAZA, 5701 Main St.
The Soiree draws more than 600 of the region's global business, government and economic development leaders. We also host our valued consular corps during this world-class salute to international business and the world marketplace.
Contact:
Kristin Smith
email
713 844 3694

September 14
Mitigating Political Risk in Your Oil & Gas Investments

11:30 AM to 1:30 PM
Mr. Antonio Barbalho, Global Head of underwriting for the oil, gas, mining, chemical, and energy sectors for MIGA, the political insurance arm of the World Bank Group. Concerns about investment environments and perceptions of political risk often inhibit foreign direct investment in developing countries.
Petroleum Club
800 Bell Avenue,
43rd Floor
Houston, TX 77002

September 18-19
The 6th annual Houston Latino Book & Family Festival

George R. Brown Convention Center
Look for the annual Houston Fiestas Patrias Parade that winds its way through downtown Houston to end near the George R. Brown as we open our doors. We will be taking part in the parade welcoming all the parade viewers to attend the Festival.
Free event
 

September 21
Health Summit & Business

Expo
HHCC
7:30 to 10:30
Keynote Address:
Honorable Ed Emmett
Harris County Judge
713 644 7070
Hilton Americas

September 30 – October 2
Business/Civic Leadership Forum

Location TBA
Senior leaders will address regional issues such as education, quality of life, and economic competitiveness.
Contact Center for details
Center for Houston's Future
1200 Smith, Suite 1150
Houston, TX 77002-4400
713 844 9303

We recommend this website:

 beehive

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July 22, 2010
Houston Restaurant Week Kickoff Party
at Bistro Don Camillo

July 28, 2010
Houston Hispanic Chamber of Commerce
Networking and Business Development Breakfast