The Bottom of the Pyramid to
the Rescue of the Global Economy:
Why Increased Corporate Social Responsibility and Development of New Models
for Microfinance are More Critical than Ever
featuring
Ricardo B. Salinas Pliego
Chairman, Grupo Salinas
Monday, May 18
11:45 – 12:45 P.M.
Korn Hall – Anderson Complex
Lunch will be provided
I think this event fits perfectly with our class. I am curious to see what he has to say given that he, Ricardo B. Salinas Pliego is chairman and founder of Grupo Salinas, one of the most successful business conglomerates in Mexico. "Grupo Salinas is a critical catalyst for promoting the development of the countries where it operates and is focused on creating shareholder value, and improving society through excellence, and operates as a forum designed for the development of entrepreneurial abilities and support for decision-making by the top executives leading the retailing, media, financial services and telecommunications firms that integrate it." Should be good!
ReplyDeleteSalinas discussed the importance of have deregulation in the banking industry to encourage more companies to enter. He asked that individuals and microfinance ngos stop scrutinizing the private banks such Aztec Banco (his Bank) from charging higher interest rate for micro loans or small loans because of higher fixed cost of making small loans that has to be factored into the interest rate. He argued that its better for the improvished to have the opportunity to have loans at higher percentage than to have no loans opportunity. I beg to differ with Mr. Salinas on many of his points especially higher interest rates because if these interest rates create cyclical poverty than microfinance or loan fail to meet their goals. Also, without any regulation wouldn’t we have the same situation that we have now with banking crisis?
ReplyDelete