Re: Op-Ed “Who Killed Silicon Valley Bank?” Dear Wall Street Journal Editors: Every day, there is new analysis or additional opinions on the cause of the collapse of Silicon Valley Bank (SVB). SVB has played a foundational role in the infrastructure of the venture capital industry for decades. In fact, SVB’s failure was the second-largest bank failure in all of U.S. history. On Sunday, March 12th, the Federal Reserve, Treasury Department, and the FDIC took unprecedented measures to guarantee the $175 billion in deposits at the time of failure, way beyond what is required by the FDIC. This action demonstrated to the world…
Author: SBE Staff
LOS ANGELES – Authorities this morning arrested a Woodland Hills man on federal charges that allege he was extorting “protection” money from Koreatown businesses, sometimes using acts of violence against individuals who refused to pay. Daekun Cho, 38, was arrested by special agents from Homeland Security Investigations (HSI) and officers from the Los Angeles Police Department pursuant to a federal criminal complaint filed last week. The complaint charges Cho with interference with commerce by threats or violence. Cho is expected to make his initial appearance this afternoon in United States District Court in downtown Los Angeles. The federal investigation in this…
With only a few hours’ notice, District Attorney George Gascón canceled a meeting that his staff had scheduled a week ago with the Association of Deputy District Attorneys (ADDA). The purpose of the meeting was to discuss the request by the ADDA to reconsider his decision to dissolve the Victim Impact Program (VIP). VIP is a division of specially trained attorneys who prosecute the most sensitive cases in the office, such as domestic violence, sexual abuse, elder abuse, child abuse, hate crimes, sex crimes, and stalking. Gascón’s planned reorganization would reduce the number of experienced lawyers handling these cases. “This decision…
By Stephen Frank | California Political Review The U.S. taxpayers are bailing out the financiers of hate, racism, anti-women and the bullies trying to destroy America. Silicon Valley Bank was a major donor to the racist BLM and other violent organizations. “As it turns out, SVB was a massive donor to Black Lives Matter and other social justice causes, to the tune of nearly $74 million dollars. $73,450,000 to be more exact. The figure comes from an extensive report dropped by the Claremont Institute on Tuesday. The report details $82 billion dollars in social justice/BLM investments by major American companies. SVB stands out as…
HBCU students will meet top executives within gaming and esports for a day of mentorship, networking and more McDonald’s tapped global esports organization Gen.G and the Black Collegiate Gaming Association (BCGA) to present the HBCU+ College netWORK Summit, happening today. This event will facilitate conversations and connections by introducing Black college students to professionals and entrepreneurs in the gaming and esports industries. In addition, 16 of the student participants will participate in an NBA 2K tournament with a $1,000 prize pool. Games will be streamed on the Gen.G Twitch channel: Twitch.tv/Gengesports, further expanding the student experience and exposure. HBCU+ College Network “It’s not enough to just open the…
LOS ANGELES – Tens of thousands of teachers and educational workers stood shoulder to shoulder at a “United For LA Schools Rally” to protest Los Angeles Unified School District’s (LAUSD) failure to address critical issues in our schools and key contract demands. Members of United Teachers Los Angeles (UTLA) and Service Employees International Union (SEIU) Local 99 gathered alongside students, parents, labor and community leaders, and allies in a historic show of solidarity at Grand Park to denounce LAUSD’s lack of movement, despite sitting on $4.9 billion in reserves. For almost a year, UTLA and SEIU have been at the…
The official trailer for the Little Richard biopic has been released and gives the audience a deeper look at the artist’s complicated struggle with his sexuality. “He was very, very good at liberating other people, he was not good at liberating himself.” LITTLE RICHARD: I AM EVERYTHING tells the story of the Black queer origins of rock n’ roll, exploding the whitewashed canon of American pop music to reveal the innovator – the originator – Richard Penniman. Through a wealth of archive and performance that brings us into Richard’s complicated inner world, the film unspools the icon’s life story with…
ORANGE, Calif. – A movie theater was evacuated after a fight broke out which lead to an active shooter scare, according to authorities. An AMC theater in the city of Orange was evacuated around 11 p.m. during a showing of the latest installment of the Scream franchise. Officers responded to multiple 911 calls for assistance at The Outlets at Orange for a possible shooting after guests began running out of the theater and into the parking lot. Witnesses state the fight occurred after a person described as carrying a large bag and pacing the theater with a flashlight, was acting…
At a reception held at the San Jose Capitol Club, Voler Strategic Advisors’ Chief Strategy Officer, Rolando Bonilla, was awarded the Mil Gracias Award by Prosperity Lab, a San Jose based nonprofit that works to empower and support small businesses. “I would like to thank Mimi Hernandez and Prosperity Lab for being a critical partner in the creation of the East San Jose COVID Relief,” said Rolando Bonilla, Chief Strategy Officer, Voler Strategic Advisors. “Through our work, we were able to create an economic lifeline that helped keep the lights on and people employed during a time where East San Jose businesses were left to fend…
After six (6) years, VSEDC President and CEO, Joe Rouzan III, is retiring and making way for new leadership. Under Joe’s tenure, VSEDC has grown exponentially, evolving and expanding to meet the ever-changing needs for economic and small business development solutions in South Los Angeles while increasing funding to these organizations significantly. Joe has created long-term partnerships with Federal, State, County and City Government agencies and major corporations, such as Best Buy, Annenberg, Weingart and 23 Banking Institutions. Prior to joining VSEDC, Joe held the position of Director for the City of Los Angeles Business Source Program, overseeing 9 Business Source Centers throughout Los…