Archivio tag: Bank of America

City of Los Angeles and Magic Johnson Confirmed to Participate in Program Helping Inner City Companies Secure Investor Capital

The Initiative for a Competitive Inner City (ICIC) today announced participation from the Los Angeles Mayor’s Office of Economic & Business Policy (OEBP) and entrepreneur Magic Johnson for this fall’s Inner City Capital Connections (ICCC) program, which educates investment-ready inner city companies about equity and other sources of growth capital, and matches them with potential investors. Johnson will be the keynote speaker at the sixth annual ICCC, hosted in partnership with Bank of America.

ICCC will be held in Los Angeles November 15-16 at the Westin Bonaventure, 404 South Figueroa Street. The two-day event will feature a full day of speed-pitching to potential investors, along with workshops and individual assessments on investment potential.

The Mayor’s Office of Economic & Business Policy works to create jobs and create and retain businesses in Los Angeles through innovative economic development initiatives. Through a partnership with the Mayor’s Office of Small Business Services, the Los Angeles Minority Business Opportunity Center, OEBP and ICIC, the City of Los Angeles will reach out a number of growing businesses in Los Angeles to bring much-needed capital to companies in economically distressed areas and help the ICCC program better understand the Los Angeles small business environment.

“We are delighted that ICCC is bringing their conference back to Los Angeles and to partner with Bank of America and my good friend Magic Johnson,” said Mayor Antonio Villaraigosa. “Public-private partnerships such as this will bring much needed capital to our entrepreneurs and growing businesses and help lead us back to economic recovery.” For more than 25 years, Magic Johnson Enterprises has been a leader in revitalizing and providing quality entertainment, products and services to ethnically diverse, urban communities.

The deadline for ICCC nominations is September 30, 2010. Eligible companies must be:

•Headquartered in or have 51 percent or more of a physical operations presence in an economically distressed urban area.
•Be a for-profit corporation, partnership or proprietorship with revenues of more than $2 million in 2009.

More than 250 companies were nominated for last year’s ICCC program. This year, ICCC hopes to select 100 companies for participation from across the country.

The ICCC is a free program providing web-based training workshops, a daylong educational program on equity and growth financing, and a one-day event connecting business participants with investors including private equity firms, VCs, mezzanine investors and angel investors.

Since the launch of the ICCC program in 2005, nearly 200 inner city companies and 150 equity providers have been selected to participate. Participating companies have raised more than $335 million in capital and experienced a compound growth rate of 23 percent.

For more information about nominating a company for the ICCC, visit www.icic.org/iccc2010nom

About ICIC

The Initiative for a Competitive Inner City is a nonprofit research and strategy organization and the leading authority on U.S. inner city economies and the businesses that thrive there. Founded in 1994 by Harvard Business School Professor Michael Porter, ICIC expands inner city economies by providing businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. ICIC’s unique knowledge and expertise about inner city success factors and thriving companies is developed from specialized urban networks and path-breaking research.

For more information, visit: www.icic.org.

About Bank of America

Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with 29 million active users. Bank of America is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

www.bankofamerica.com

MBNA Customers Raise More Than £820,000 for Haiti

Chester, UK – Generous MBNA customers have donated more than £820,000 to the Haiti relief effort.

Donations made to the Disasters Emergency Committee through the MBNA website between January and March this year totalled £827,126.

MBNA Europe, a subsidiary of Bank of America, donated 3 percent of the total to cover any processing costs of the credit card transactions that may have been charged by the payment networks.

John Greaves, Communications executive for Bank of America Europe Card Services, which operates the MBNA brand, said: “We wanted to make sure that every penny of the credit card donations made by our customers went directly to helping those people in Haiti in most need.

“The country needs real help with its rebuilding programme and the generosity of our customers will go a long way to supporting many people.”

Often credit card donations can be charged a processing fee. In this case, MBNA donated an amount equivalent to the fee so the Disasters Emergency Committee received 100 percent of customer donations.

Bank of America Corporation made a $1 million donation to a worldwide fundraising campaign for the people of Haiti earlier this year.

Bank of America, The NASCAR Foundation and Rusty Wallace to Host 100 Local Students at Daytona International Speedway

“Bank of America Students at the Speedway” to Celebrate NASCAR Day; Provide Students with a Math and Science-Enriched Experience

DAYTONA BEACH, Fla. – Science, Technology, Engineering and Math – also known as STEM – are as critical to the success of NASCAR as tires, an engine, fuel and a steering column. To demonstrate the importance of learning about STEM in school, Bank of America and The NASCAR Foundation will host 100 local middle school students today at Daytona International Speedway for the “Bank of America Students at the Speedway” program to help celebrate NASCAR Day, the sport’s annual charitable celebration that benefits children across the nation. As the centerpiece of the program, NASCAR legend Rusty Wallace and Bank of America East Central Florida Market President Sam Willett will lead the students in a racing-themed interactive game focused on Math.

Students from David C. Hinson Senior Middle, Indian Trail Middle, Buddy Taylor Middle and Campbell Middle will participate in a variety of activities designed to demonstrate the critical role that STEM plays in the sport of NASCAR, while exposing them to the kinds of exciting careers they can pursue by concentrating on these important subjects. The program is a natural extension of the bank’s ongoing support of education. Bank of America invested over $20 million in 2009 for academic achievement, dropout prevention and mentoring programs.

“Teachable moments don’t always come within the confines of the classroom,” said Sam Willett, East Central Florida market president for Bank of America. “It’s our hope that through what students learn about STEM during Bank of America’s Students at the Speedway will encourage these kids and provide a practical application of how science, technology, engineering and math can impact their future.”

Bank of America, The NASCAR Foundation, Daytona International Speedway and a team of engineer-educators from Ten80 Education organized the event activities for students which include:

· “Bank of America STEM 500,” a racing-themed interactive game demonstrating how math is applied to the daily operations and finances of a race team; Bank of America associates will assist the students.

· Tour of the track/infield to showcasing how STEM applies to track banking, refueling strategies, drive lines, etc.

· A variety of stations including the FastTrack RC National STEM League in which students authentically apply STEM to optimize performance of remote-control cars just like motorsports professionals.

· Students will also receive a ticket for the Coke Zero 400 on July 3 at Daytona International Speedway.

Additionally, Ten80 Education will provide professional development to 20 middle school teachers so they can effectively bring race-themed STEM education back to the classroom. Schools will also receive STEM curriculum kits and the FastTrack RC program so the initiative can extend to all students at each of the four schools.

“Volusia County Schools is thrilled to be part of NASCAR Day 2010 and how it will give middle school students an opportunity to gain an understanding of STEM and how it’s critical to the motorsports industry. We appreciate the sponsorship of this event and look forward to incorporating the donated FastTrack RC Kits and other STEM materials into our curriculum,” said Margaret Bambrick, mathematics specialist, Volusia County Schools.

NASCAR Day is an annual charitable celebration of the NASCAR spirit that enables fans and corporate partners to join together to make a difference in the lives of children. The Daytona Beach project is one of five keystone events taking place today aimed at helping children live happier, healthier lives. The “Big Five” projects include: partnering with Bank of America for a racing-themed educational initiative at Daytona International Speedway in Daytona Beach, Fla.; renovation and race theme decoration of a portion of the Aflac Cancer Center and Blood Disorders Service in Atlanta, Ga.; working with Sprint, Inc. for a playground build at the Kansas City Ronald McDonald House in Kansas City, Mo.; A Place for Hope project outside Charlotte, N.C. and a fundraiser at Auto Club Speedway in Fontana, Calif. to support Loma Linda University Children’s Hospital.

For more information, please visit the website at WWW.NASCAR.COM/NASCARDay.

About Bank of America

Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with more than 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with nearly 30 million active users. Bank of America is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

About The NASCAR Foundation

The National Association for Stock Car Auto Racing, Inc., (NASCAR) launched The NASCAR Foundation in January 2006. The Foundation is a 501(c)(3) non-profit entity that embodies the compassion of the NASCAR Family and its commitment to serving communities. The Foundation seeks to raise funds and increase volunteerism to support non-profit charities and charitable causes throughout the nation with an emphasis placed on initiatives that affect the ability of children to live, learn and play. For more information on The NASCAR Foundation, please visit the website: WWW.NASCAR.COM/foundation

About NASCAR Day

Annually celebrated on the third Friday in May, NASCAR Day is a charitable celebration of the NASCAR spirit that enables fans and partners to join together to make a difference in the lives of children. NASCAR Day encourages fans to make a $5 donation for a collectible lapel pin which in turn will support programs that help children live happier, healthier lives. Since it began in 2004, NASCAR Day has raised nearly $8 million for charity. Bring your family and friends to a NASCAR Day service project and experience how together you can improve the lives of those we care about the most. Visit WWW.NASCAR.COM/NASCARDay to register as a NASCAR Day team member, to find out about volunteer opportunities or to learn more about how The NASCAR Foundation is helping children in need.