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Recently, law enforcement agents, courageous survivors, and prosecutors came together to bring down one of the largest child prostitution rings in the country. But they couldn’t have done it without the help of local hotels which were used by pimps to sell and store their “products.” It’s a case that shows hotels can be heroes in preventing and reporting child prostitution.
Jessica was a student at a local Boston high school when she first met Darryl Tavares, the man who would become her pimp. She had run away from home days before and was standing in the snow in skimpy clothes. Tavares convinced her that if she let him be her pimp, she’d never have to be outside in the cold. He failed to mention that he’d also cut her with a potato peeler to mark her as his property, kick her face with his work boots for disobeying, and keep the money she earned from having sex with men in hotel rooms around Boston. But that is what happened to Jessica and the many other girls as young as 13 in a violent child sex trafficking ring in Boston.
After years of abuse, Jessica had enough. She tried to leave her pimp, but he sent several women to find her and they attacked her brutally. So Jessica turned to the police for help and eventually became the first informant for what would be a massive FBI investigation into child prostitution in Boston. In the end, they arrested six pimps, two of whom are awaiting sentencing. Despite the fact that she has deep physical and emotional scars from her time in slavery, Jessica is now a college student. She’s studying to be a social worker to help girls who find themselves in the same situation she did — alone in the snow, making a choice between the home they hate and a smiling wolf offering a warm meal and a place to sleep.
The Social Capital Markets Conference begins in less than a week. Already social entrepreneurs, angel investors, philanthropists and more are flying in to San Francisco from all parts of the world for meetings, reunions, and hopefully, the start of the next big thing. As the whole field converges on the city, however, it can be overwhelming to figure out what’s actually going on. Here’s ten tips for making the most of it.
1. Don’t try to do everything. SoCap is chock full of content. Like, overflowing. Like, don’t even try to see it all. The number one tip for content at any event that has so much of it is to accept that you can’t see it all.
2. Consider how you fit into the space before you arrive. SoCap is designed to be a crossroads where investors meet entrepreneurs meet philanthropists meet impact analysts meet everyone else. Knowing how you fit into that space, what you have to teach and what you want to learn before you arrive could dramatically increase your enjoyment of the event.
3. Pick a content track. One of the ways to make the large amount of content more manageable at the event is to pick one of the handful of content tracks like “Tactical Philanthropy” and focus on it. Because they’re curated by individuals, it’s likely that many of the panels with work well in the context of one another.
4. Know the 1 or 2 people who you must meet, and make it happen. One of the keys to successful event networking is figuring out who you want to meet. SoCap has made that easier with a community tool that allows you to browse other attendees in advance and discover mutual interest.
5. For everyone else, just let it happen. If making it happen matters a lot in networking, so does letting it happen. It’s extremely hard to know which of our connections are going to step up with the resources we need, but it is clear that the deeper the relationship, the more likely it is that people will have your back when you need it. Cutting off conversations that could be going somewhere fun to rush around like a head-cut-off chicken may not, in the long run, be the right strategy.
6. Engage with the community online in advance. SoCap has set up a community portal that allows attendees of the event to begin the conversations they want to have in advance of actually showing up. It’s a great way to get to know the people you’ll spend the next week with.
7. Go with the flow. Any in-person gathering is ultimately a collection of energy produced by new connections between people. Even when its great, content can get in the way and impose artificial barriers on conversations that feel like they’re only just getting started.
8. Save some for the night. At any event, the real connections happen at night over dinner and drinks. Take the time to get rest in advance in order to enjoy the best the community has to offer.
9. Lay down some roots in San Francisco (such as by visiting the Hub). For my money, the Bay Area is the informal capital of this space, and I believe that connection is going to get deeper as more tech money flows into the sector. SoCap is a great chance to lay down some SF roots in a place that is valuable to have a foot it.
10. Go to the Day 3 Unconference. SoCap veterans know that one of the most intimate, fun, and differentiated parts of the event is day three’s Unconference. Facilitated by the inimitable Jerry Michalski, the sessions are where a lot of the deepest connecting actually happens.
Photo credit: sociate
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“We are going to beg, borrow, steal and learn from them as quickly as we can, because it is important for our urban strategy.” That was Bill Simon, the new CEO and President of Walmart US talking about the company’s smaller format stores in Mexico and across South America, but he could just as easily have been talking about the communities it is about to enter.
Walmart has just announced that it will use smaller format stores (as opposed to the monstrosities it has favored in the past) to try and force its way into urban markets like New York, Boston, Washington, D.C., Chicago and others. The company has been struggling over the last several years to get a foothold in cities because U.S. sales are slumping and, quite frankly, it doesn’t have any other place to go. But cities aren’t like the suburbs, and you can’t go building 200,000-square-foot big box stores downtown.
So what does this mean for our cities? Nothing good. Beyond Walmart’s infamous treatment of workers, a new store, especially in an urban market, usually spells trouble for the local economy. For one thing, a recent study found that urban Walmart stores did not create new jobs in area. In other words, when a Walmart moved in to town, other stores closed. The result is that instead of improving a community by adding jobs, Walmart is instead replacing jobs that were already there. Often the jobs they replace paid more, offered better benefits and paid for some health care (which Walmart does not). To top it all off, Walmart often uses tax loopholes to cheat states and local governments out of the money they need to provide essential services.
Sen. Blanche Lincoln of Arkansas must be feeling pretty bummed – her proposed $1.5 billion in farm “aid” may be nixed by the White House after all.
Lincoln, chair of the Senate Agriculture Committee who is gearing up for a tough re-election battle this fall, has been fighting for the funds since July when they were removed as a compromise deal from a small business stimulus bill. The Obama administration had promised to approve the package, which was designed to provide “disaster aid” to farmers who lost crops in 2009, by Aug. 31.
August has come and gone, and there’s no sign of the package. But before we get all sad for the poor farmers down the street whose crops were ruined, let’s examine this plan. America’s biggest, least sustainable farms — many of them in Blanche’s Arkansas — would benefit most from the plan, while smaller, more damaged farms would be left high and dry. Why? The funds would not be distributed based on losses, but on how much they received or should have received under a federal subsidy program based on farm size. As the New York Times explained last week, it’s an “unjustified” windfall, as farms with as little as five percent loss would receive an additional chunk of 90 percent of the subsidy in aid. Bigger, more profitable farms — the ones least damaged by rains — are far more likely to qualify. The Wall Street Journal pointed out that the top 10 percent of wealthiest farmers would receive about two-thirds of the money, and about a quarter of the funds would (curiously) go to Arkansas farms.
Published: September 9, 2009
The Securities and Exchange Commission on Wednesday defended its proposed $33 million settlement with Bank of America over bonuses paid to Merrill Lynch executives just before the bank took over Merrill last year.
The S.E.C. said in a federal court filing that the settlement was “fair” and “reasonable” and that it had lacked enough evidence to charge individuals at the bank with misleading shareholders about the $3.6 billion in bonuses paid to Merrill employees.
In its own legal filing, Bank of America maintained its previous stance that “there is no evidence that any individual is culpable” and said it had agreed to the settlement with the S.E.C. to avoid a protracted public court fight that could potentially damage its reputation.
On Aug. 25, Judge Jed S. Rakoff of the United States District Court in Manhattan refused to approve the proposed settlement until he received an explanation about why the S.E.C. had failed to pursue charges against individuals at the bank.
Even as Bank of America was defending itself in federal court, it moved a day closer to facing potential charges from Andrew M. Cuomo, the New York attorney general, regarding the Merrill acquisition.
The bank’s lawyers sharply rejected an assertion by the attorney general’s office that the bank was hiding behind attorney-client privilege to avoid disclosing crucial facts.
In a strongly worded letter, the bank’s lawyer, Lewis J. Liman of Cleary, Gottlieb, Steen & Hamilton, wrote that Bank of America was “extremely surprised and disappointed” when it received a letter on Tuesday from the attorney general’s office, and said that its basic premise was wrong.
Mr. Cuomo’s office has been investigating several aspects of the takeover of Merrill, including when and how the bank had decided to disclose unexpected losses at Merrill as well as the bonuses paid to Merrill employees.
The letter on Tuesday from David A. Markowitz, the chief of Mr. Cuomo’s Investor Protection Bureau, said that “attorney-client privilege is hindering this office’s ability to make fair and fully informed decisions as to what charges, if any, to bring and whether individual Bank of America officers should be charged.”
In its response, Bank of America disputed that assertion on several fronts, writing that “because Bank of America did not violate the law, it has not offered reliance on legal advice as a defense.”
The letter, addressed to Eric O. Corngold, Mr. Cuomo’s executive deputy attorney general for economic justice, also said that Bank of America had offered several times to meet with Mr. Cuomo’s office to explain its side of the case but had been rejected each time.
On Tuesday, Mr. Cuomo’s office said it was nearing a decision on whether to file fraud charges against Bank of America or any of its executives. It has given the bank until Monday to provide details on the Merrill deal.
In seeking approval to buy Merrill Lynch last year, Bank of America told investors that Merrill would not pay year-end bonuses without the bank’s consent. But in its complaint filed Aug. 3 in federal court in Manhattan, the S.E.C. said Bank of America had already authorized Merrill to pay bonuses and had not shared that information with shareholders.
