Skip to main content

Occupy and Small Business

Support for movement now can mean more business later

By William Michael Cunningham, Published in the Washington Post on November 12

I have been attending the Occupy K Street protest. In fact, I have put to use my skills running an investment firm, holding a teach-in at the site on the causes of and cures for the financial crisis.

In my time there, I spoke with protesters, sympathizers and opponents. I learned a lot about the movement, much of which was, to me, surprising. Some of these lessons may be of interest to businesses in the area.

Regardless of your political views, I think small business people should embrace the protests. I know this is difficult — small business people tend to be conservative and tend to vote Republican. But to the extent that income disparity eases, more people will have money. With more money, more people will be able to buy goods and services from
small businesses.

And considering the number of small businesses that have failed since the start of the financial crisis, we would have to say that small businesspeople have been more negatively impacted by fraudulent bank practices than most. Also remember that banks were supposed to lend bailout money to small businesses. They did not. They shamefully sat
on the money so that they could earn bigger bonuses. These are reasons to support the Occupy Movement, not condemn it.

The K Street site has received support from small businesses. While I was milling around one Sunday, a local baker (Against the Grain bakery in Chestertown, Md.) brought 90 loaves of bread for the protesters. Other small businesses have provided significant material support. Local branches of larger businesses, including a local outpost of a
national coffee chain, are supporting the movement site. The coffee shop has allowed protesters to use its restrooms.

It is important to say that I do not speak for the Occupy K Street Protest. No one does. Each Occupy settlement is independent. Occupy K Street is very different from Occupy Liberty Plaza, which is independent of Occupy Wall Street. They are all self governing and self-sufficient. Think of them as franchises, but without the bothersome and restrictive franchise agreement.

What I’ve learned is that they are Democrats, Republicans, Independents, Methodists, Catholics, Protestants, Quakers, atheists, gay, straight, black, white, Hispanic, Asian, Ron Paul supporters, young people, old people, homeless people, college educated, non college educated, Greeks, English, Aussie, Taiwanese.

They are here because they are struggling economically and ethically. The fact that the October 15th protests were held in 951 cities indicates that this is truly worldwide.

Are they anti-corporate?

According to the conversations I have had with protesters, many believe that corporations, certainly those in the financial sector, have grown so powerful that they are a threat to democratic capitalism.

Remember that the American Revolutionwas a declaration that the king was not better than all other humans. Therefore, the king did not get to determine the fate for everyone in society. People can decide for themselves. All humans are equal. But artificial, man-made creations like corporations are not human, so they do not deserve the same rights as humans. Corporations exist to serve people. People do not exist for the sake of corporations. Corporations do not get to determine the fate for everyone in society.

Most feel that the democratic processes, critical to insuring competition based on the rule of law, have been captured by a small group of firms that break the law with impunity and capture outsized returns as a result. They then use these gains to further their hold on the body politic. This gives rise to an extreme amount of selfishness and greed that is detrimental to the long-term interest of the country and its citizens.

I think these protests will endure. Attempts at shutting locations in Chicago, Denver and Oakland have only served to embolden protesters. I think support now — or at least the absense of hostility — may translate into increased business later.

William Michael Cunningham is a social investing adviser with Creative Investment Research in Washington.

Pls see:

http://www.washingtonpost.com/business/capitalbusiness/support-for-movement-now-can-mean-more-business-later/2011/11/09/gIQAxxN5FN_story.html

Popular posts from this blog

Maternal Health Financing Facility for Black Women: A Solution to an Urgent Problem

Maternal mortality is a significant issue in the United States, with Black women disproportionately affected. Research conducted by the Centers for Disease Control and Prevention (CDC) has shown that Black women are more likely to die from pregnancy-related causes than their white counterparts. However, the issue is not new, and despite the increasing amount of data available, the disparities have remained unaddressed for far too long.  Creative Investment Research (CIR) is among the organizations that believe there is a solution to the problem. Through our proposed impact investing vehicle , the Maternal Health Financing Facility for Black Women (MHFFBW), we aim to tackle the mortality gap and support Black women during childbirth, which will, in turn, benefit their communities. The Facility, based on legally binding financing agreements containing terms and conditions that direct resources to individuals and institutions capable of addressing supply-side conditions at the heart of

Projected Impact of Gun Laws on Corporate Profits in Texas

More Fortune 500 companies are located in Texas than in any other state. Texas successfully used low taxes and minimal regulations as bait to recruit companies like Tesla and Oracle. The state promoted these “advantages” in ads highlighting their “free-market” environment and criticizing the "tax and spend policies of liberal leadership" in Democrat-run states. Four million people migrated to Texas over the past ten years. Our economic models predict a reversal, however. State of Texas corporations on the Fortune 1000 list generate $2.2 trillion in revenue, $158 billion in profit. They have a market value of $3.8 trillion and employ 2.5 million people nationwide. We continue to believe this increased corporate presence in Texas imposes a tax on the nation as a whole. Texas allows anyone 21 or older to carry handguns without training or licenses, and maintains lower gun purchase age limits. Beyond the recent abortion bill, which allows people to sue those who "aid and abe

BRICS Summit 2023: Navigating the Transformation of Global Finance

Recent developments in the global financial landscape have captured the attention of the finance world, promising a new era of integration, transformation, and collaboration. Amidst the excitement, however, it is essential to acknowledge the formidable obstacles that stand in the way of realizing these ambitions. The 2023 BRICS Summit , slated to convene amidst this shifting landscape, is poised to be a significant juncture that could have profound implications for the future of international finance. The resurgence of Bitcoin, marked by an impressive, if smaller, year-to-date price surge, has underscored its enduring relevance. Similar concerns surround the exploration of central bank digital currencies (CBDCs). The UK's digital pound initiative, while forward-looking, raises questions about stability, security, and privacy and potential economic power imbalances. The notion of a BRICS digital currency, potentially extended to include several countries, reflects a desire to chall