The Civil Rights Shakedown: Myth Or Reality?
By Deneen Borelli
July 30, 2008
Page 2 of 2
In a follow-up letter to Dimon, Jackson wrote, "It is our understanding that just four minority firms are involved in the IPO syndicate at the third tier level, none as co-managers or even junior co-managers.... This is a major step backward for Wall Street and its commitment to inclusion.... There must be some sense of 'equanomics' [a Jackson term marrying "racial justice" to "economic equality"] in the IPO deal - which the representation of minority investment banking firms compares favorably to our consumer use of credit cards."
Frustrated by what appears to me to be a long history of Jackson and Sharpton using semi-subtle campaigns to pressure corporations to donate, I spoke up at the JPMorgan shareholder meeting.
After Jackson spoke, I took his place at the microphone and asked Dimon and his board: "Will there ever be a day where you will stand up and say 'No' to Mr. Jackson and to his demands and messages of victimization and divisiveness? This is the United States of America, and this is not the 1960s. People should be hired based on their talents and they should be retained based on their results. There should not be color-coded hiring in the United States."
Shareholders clapped. But, unlike Jackson's, my question went unanswered.
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Deneen Borelli is a fellow for the Project 21 black leadership network. Comments may be sent to DBorelli@nationalcenter.org. Note: New Visions Commentaries reflect the views of their author, and not necessarily those of Project 21.
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Note -- The opinions expressed in this column are those of the author and do not necessarily reflect the opinions, views, and/or philosophy of GOPUSA. >> Back -- Page 1 2
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