Heard on the Street – here’s what we were reading last week:
Why Public Procurement Is a Civil Rights Issue: Even if discrimination against minority-owned firms is now outlawed, the playing field for government contracts remains tilted toward those already on vendor lists or with prior track records of working with government. Without affirmative action, prior racism would remain baked into public procurement spending.
LendingClub to refer small businesses to Funding Circle: LENDINGCLUB is planning to stop lending to small businesses and will instead refer prospective borrowers to Funding Circle US and Opportunity Fund. The US peer-to-peer lending giant, whose core business is personal finance, said it provided loans to a “small fraction” of 14 million business applicants last year.
Developer Wants Obama Presidential Center to Spur South Side Regeneration: South Side resident and developer Ghian Foreman wants to ensure that the Obama Presidential Center spurs regeneration in the neighborhoods that surround Jackson Park. Earlier this month, Foreman was named as the first CEO of the Emerald South Economic Development Collaborative, which aims to foster investment and development that benefits all residents and business owners on the South Side – but especially in Woodlawn, Washington Park and South Shore.
From Gentrification to Decline: How Neighborhoods Really Change: A new report and accompanying map finds extreme gentrification in a few cities, but the dominant trend—particularly in the suburbs—is the concentration of low-income population.