Monday, February 9, 2015
Minority Firms Get Major Business Deal With Apple -- Thanks, in part, to Jesse Jackson!
Technology giant Apple opened their doors recently and welcomed two minority-owned firms as investors. It represented the first time that Apple has included an African American-owned firm and a Latino-owned firm to participate in a debt offering.
The significance of opening up debt offerings
According to BusinessFinance.com, a debt offering is a debt instrument offered for purchase by private investors with warrants for future stock purchases at fixed prices. By selling notes with an annual return rate, companies like Apple can increase their debt financing without giving up ownership of the company. It's a good deal for both parties. This time, two well-respected minority-owned companies were included.
Apple spokeswoman Kristin Huguet commented, "We're proud to have a range of banks participate in our recent debt offering, including two well-respected minority-owned companies, Williams Capital and Ramirez & Co." This represents a great opportunity for the two companies and a significant step forward by Apple in supporting minority-owned businesses.
Reaction by the Rev. Jesse Jackson
The Rev. Jesse Jackson, who has been working hard to push more technology companies into becoming more diverse, expressed his reaction to Apple's recent move. "There is more to be done, but this is a significant step," he stated recently. Others feel this will open up more opportunities for minority-owned financial services firms. With a technology giant like Apple setting an example, it may also encourage other technology companies to follow.
To read more, visit www.usatoday.com/story/tech/2015/02/03/apple-debt-offering-minority-firms-jesse-jackson-diversity-silicon-valley/22805673/