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Sunday, February 3,1991
1- 4 p.m.

Affirmative Action For Jews
In Securities Markets

GARY MIZEL

Special to The Jewish News

ews have long been
admired for their cul-
tural unity, professional
competence and business
acumen. The racial
stereotypes that are applied
to Jews have a complimen-
tary mix, especially from
minority groups who are try-
ing to accomplish similar
aims. It is common to hear
minority- political leaders
preach togetherness and
"help our own, like the Jews."
It is also common for
minorities to seek Jewish doc-
tors and lawyers often at the
expense of their own profes-
sional people. The other in-
grained stereotype is that of
the "rich Jew." While Jews
comprise a very small percen-
tage of the American popula-
tion, they are not considered
minorities. It is difficult to
make a case for Jews being
underprivileged even though
many Jewish immigrants
come to this country with vir-
tually no possessions. Their
greatest asset is the
American Jewish community
which readily takes them in
and helps to create oppor-
tunities for them.
Jews have always been in
the forefront of positive social
change. Organizations like
the Anti-Defamation League
devote their resources not on-
ly to Jews but to all oppress-
ed members of our culture.
ADL literature often contains
black and brown faces as sym-
bols of those who need protec-
tion. This mentality of shar-
ing is a beautiful quality and
a valuable gift to our fellow
Americans.
The United States is becom-
ing more and more ethnical-
ly diverse and our minority
population is growing at a
rate where minorities will be
the majority within the next
quarter century. Statistics
compiled by World Demo-
graphics, a local firm, show
that by 1995 Denver's minori-
ty population will exceed its
white population. In cities
such as Detroit, that transi-
tion took place over 20 years
ago. American Jews should
once again consider their role
in affecting these demo-
graphic changes especially
considering our type of
economic system and the fact
that minorities must play an
in.
ever increasi -nr, - art
increasing p -
ever
Gary Mizel is president of
- Mizel Securities Corporation.

j

For information, please call: (313) 645-3610

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Bloomfield Hills, Michigan

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Allied Member ASID

76

FRIDAY, FEBRUARY 1, 1991

America's entrepreneurship
and its gross national
product.
The biggest problem facing
minority business owners is
access to capital. Traditional
lending practices by commer-
cial banks are often too strict
and affirmative action pro-
grams can be overly cumber-
some and time-consuming.
Our capitalist system can ac-
complish affirmative action
goals much more efficiently
than the Federal government
and the system can reward
minority entrepreneurs and
their partners in a clean and
unmanipulated fashion. The
role of the Jewish business-
man in this scenario is to help
facilitate equity financing for
minority businesses through
the securities markets.
There are approximately
2,000 public companies listed
on the New York Stock Ex-
change and nearly 1,000 on
the American Exchange. The
National Association of
Securities Dealers (NASD)
lists over 5,500 public com-
panies in its automated
quotation system and another
20,000 are listed in the "pink
sheets." Only a handful of
listed stocks and less than
one hundred public corn-
panies are minority controll-
ed. Minority business
represents less than .003 per-
cent of America's vast
securities markets and
therefore minorities are
underrepresented in an area
where they can make the
largest contribution. Jews
maintain a major presence in
the securities markets and
they can use their position to

invest in the equity of minori-
ty businesses. This kind of
partnership is not as intimate
as standing side by side
behind a counter and conse-
quently the initial stress of
such a union is not so intense.
There is very little contact
between underwriters and
minority business owners so
minorities have never gained
experience dealing in the
public markets and the
markets have been deprived
of minority business in-
terests. This unfortunate cir-

Jews can again be
the catalyst for
positive social
change.

cumstance is basically a
social problem resulting in a
lack of understanding of how
each can help the other. A
large number of well-
managed minority businesses
could be made available to
the public. Hispanic Business
Magazine lists the 500 largest
Hispanic businesses in
America. It also lists the 100
fastest growing Hispanic
businesses. Black Enterprise
Magazine lists the 100 largest
black-owned businesses.
These businesses represent
untapped potential for the
Jewish entrepreneur and
from a marketing standpoint
such a union is irresistible.
A start-up minority-
controlled public company
with a large number of
Jewish shareholders would be
a monumental symbol. The