Heard on the Street: encouraging impact investing, and the growth of the 0.01 percent

Heard on the Street – here’s what we were reading last week:

BlackRock’s Message: Contribute to Society, or Risk Losing Our Support: BlackRock, the largest investor in the world, shares his philosophy of how “to prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society.”

Never mind the 1 percent; Let’s talk about the 0.01 percent: Conversations around the disproportionate growth in the income of America’s wealthiest 1 percent have continued since the Great Recession. In this report, the author argues that the disparities in income growth compared to the top 0.01 percent are even more significant.

How This Foundation Is Using its Grantmaking to Champion Impact Investing: In 2017, The Surdna Foundation made a $100 million commitment to impact investing, defined as investing that “directly supports its mission or otherwise aligns with its values.” Now, they have announced a round of grants that will be made to other organizations that are committed to furthering the field of impact investing.

SBS consultants help Flushing laundromat owner: A great example of how NYC’s Department of Small Business Services is helping small businesses respond to changing regulatory environments, by offering free business and compliance consultations. SBS Commissioner Bishop says “Running a small business, while a labor of love, comes with added responsibilities that business owners do not have to face alone.”