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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: Lane3 who wrote (200993)	6/2/2021 9:43:38 AM
From: combjelly	Respond to of 362528

Back when Blacks were expected to for free it was called slavery. I guess i-node misses the good ol' days....

To: Lane3 who wrote (200993)	6/2/2021 2:32:45 PM
From: i-node	Read Replies (2) \| Respond to of 362528

>> So, in your world Black lawyers work for poor black clients for free? That's how prospective Black entrepreneurs get going? Two points: 1. White people don't get those services for free, either. Today, the cost of a small franchise -- just CPAs and attorneys -- will run you 500K or more. This requires the ability of the proprietor to sell him/her self. HOWEVER, blacks have massive advantage over similarly situation whites (as do women over men). I did work for a minority/woman owned business (MWOB) about 20 years ago, and when that business was inherited from the dad, financing opened up enabling an expansion from a small business to a multi-billion dollar operation, almost overnight. The money just flows. There is no White Farmers Association, but there certainly is a Black Farmers Association. Tale of two clients: 1. Black Farmer, poorly managed operation, a few million dollars in debt, has been living off debt for years, telling creditors he's going to soon have his "settlement" from the government (he was all over TV at the time as a spokesman for southern farmers). His bank calls me up and says, "We need for you to prepare some real financial statements for this guy" (not previously my client). I looked at the records he brought me and immediately knew it was a train wreck and would require a total tie-out of the balance sheet -- a really lousy reporting situation. I agree to do it if the bank guaranteed my fee. Before it was over, I was able to secure additional capital plus refinancing of the old on NOTHING. No income. Assets mortgaged to the hilt. I thought there was NO WAY I could get him that loan. MWOB. 2. At about the same time, I was working with a white-male owned business down the street that was running a manufacturing operation out of his pocket, building a proprietary beam welding system for export to foreign countries. It was a business that needed 1/4 million to just explode into foreign markets, where it automated welding, reducing the cost of an I-Beam radically. I looked at it and thought, "I can help this guy." I called the most relaxed lender in the state because they'd do anything for to grow the business. Perfect job creating situation. Turned down flat. (2) was a far better credit risk than (1) and it was no-contest. Yet, that (white-male owned) business closed, costing around 50 jobs in the most economically destitute county in Arkansas, even today. I didn't tell the guy, "If only you were black." But I damned sure thought it. A black entrepreneur has a sizable advantage over a similarly situated white entrepreneur any day of any week. As does a woman. When I was representing these people in these fiscal life-or-death scenarios, the black man always won over the white man. And everyone new it. One of the associations I often worked with made no bones about it, the first question was always the same: "Is he a minority?" >> Back when Blacks were expected to for free it was called slavery. If you think blacks are disadvantaged because of their skin color in getting financing, I can tell you that isn't true and I know what I'm talking about.