The Detroit Development Fund (DDF), JPMorgan Chase & Co. and the W.K. Kellogg Foundation (WKKF) recently declared the first four Detroit-based minority-owned small businesses receiving loans and lines of credit from the Entrepreneurs of Color (EOC) Fund. The lending from this $6.5 million program is going to Detroit-based neighborhood businesses owned by entrepreneurs of color and businesses that primarily hire people of color.
The EOC Fund, which is facilitated by DDF, a Michigan 501(c)3 Community Development Financial Institution (CDFI), provides financing for Detroit-based neighborhood businesses and services with a aim of assisting businesses that lack access to traditional forms of credit and capital. Funding for the EOC Fund is offered by a $3.5 million grant from the JPMorgan Chase Foundation, as part of JPMorgan Chase’s $100 million commitment to the city of Detroit’s economic recovery, and a $3 million program-related investment from the WKKF.
“From the neighborhoods to downtown, Detroit’s success is tied to the success of its residents and growth of its businesses,” said Detroit Mayor Mike Duggan. “There is incredible opportunity for small businesses here in Detroit, and this loan program from the Detroit Development Fund, JPMorgan Chase and the W. K. Kellogg Foundation will ensure that businesses here have access to the resources they need to prosper.”
JPMorgan Chase & Co. provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Administration.
Shares of FirstEnergy Corp. (NYSE:FE), inclined 2.40% to $32.82, during its last trading session.
FirstEnergy Corp., has awarded Science, Technology, Engineering and Math (STEM) grants totaling almost $15,000 to 18 northeast Ohio teachers, representing 17 educator-presented projects. The grants will be used for a variety of hands-on projects, workshops and teacher development programs across the Ohio Edison and The Illuminating Company service areas.
The grant winners, their schools and projects are:
- Angela Ebert, Applewood Elementary School, Brunswick – Studying magnetism and electricity
- Laura Rini, Hickory Ridge Elementary, Brunswick – Learning skills with LED lights
- Edward Savitski, St. Sebastian School, Akron – Energy transformations, measurements, data collection and analysis using solar powered cars
- Zach Griffin and Jason Tomayko, National Inventors Hall of Fame STEM School, Akron – Survivability in the wake of a disastrous storm
- Stacy Latham, Barberton Middle School, Barberton – Designing the electric layout for a house
- Margaret Busker-Postlethwait, East Community Learning Center, Akron – Launching pumpkins with a trebuchet-type catapult
- Paula Murphy, Young Elementary, Akron – Lifelong learning skills through exploration with robots
- Sarah Rivera, Perry High School, Perry – Building a solar water heater
- Stephanie Gribble, Loudonville Perrysville Exempted School District, Loudonville – Electricity and circuits
- Michael Wolski, Mentor High School, Mentor – Feasibility study of wind power at Mentor High School
- Lauren Scotta, Gilles-Sweet Elementary, Fairview Park – Hatching chicks in the classroom
- Stephanie Greathouse, Chaney STEM, Youngstown – Exploring robotics and energy with LEGO® Mindstorm
- Blanche Davidson, Perry Middle School, Perry – Renewable engineering with solar cars
- Kimberly Burgard, Lakeside Junior High, Ashtabula – Building solar and battery-powered cars
- John Oliver Milam, St. Vincent De Paul Parish School, Akron – Using engineering to improve literacy with little free libraries
- Jennifer Detmar, Pleasant Valley Elementary and STEM School, Parma – Lighting up the world
- Robert Engels, St. Vincent-St. Mary High School, Akron – Using hand generators to study and measure electricity.
FirstEnergy Corp., through its auxiliaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates fossil, coal-fired, nuclear, oil and natural gas, wind and solar power, and hydroelectric generating facilities.
Finally, Shares of MGM Resorts International (NYSE:MGM), ended its last trade with 1.07% gain, and closed at $22.63.
MGM National Harbor has named the powerhouse lineup of celebrated chefs counting José Andrés, Marcus Samuelsson, and Bryan and Michael Voltaggio to lead its culinary program when the resort opens in the second half of 2016. Each new concept has been carefully crafted to pay homage to the culture and influence of the regions prominent culinary landscape.
Creating a true culinary destination for the eastern United States, MGM National Harbor has partnered with the biggest names in the food world to deliver totally new concepts, exclusive to the resort. Award-winning Spanish American chef José Andrés, renowned for popular dining destinations in Washington, D.C., Beverly Hills, Las Vegas, Miami and most recently, Mexico City, will join the roster together with Ethiopian-born and Sweden-raised acclaimed chef Marcus Samuelsson, known for his New York City hotspots. Adding local flavor to the mix are brothers Bryan and Michael Voltaggio, natives of Frederick, Md., whose victories on Bravos popular culinary competition Top Chef made them both national sensations.
José Andrés will introduce his first seafood-focused concept overlooking the Potomac from the prow of MGM National Harbor. Drawing inspiration from the bounty of the regional watershed, the restaurants menu will feature locally sourced ingredients and fresh seafood. Exquisite dishes will incorporate local and international cooking techniques, allowing diners to experience diverse flavor combinations and profiles. Guests will be able to choose from a variety of dining options depending on their preferred experience, counting cocktail, sushi or tempura bars with exciting views of interactive kitchen stations, and communal tables or main dining room seating offering commanding views and visually stunning décor.
MGM Resorts International, through its auxiliaries, owns and/or operates casino resorts. It operates through two segments, Wholly Owned Domestic Resorts and MGM China. The company’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
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