Since the earthquake in Haiti, an increasing number of non-profit organizations are continuing to raise funds. Among the most popular are The American Red Cross, UNICEF, Operation USA and Mercy Corps. Other smaller, and in some cases relatively new organizations, include National Nurses United, Artists for Peace and Justice, K.I.D.S, Healing the Children, and UNFPA. Penelope Cruz, Gerard Butler and Sean Penn are among the large donors for Artists for Peace & Justice, a new organization originally founded to build schools in impoverished regions of Haiti.
The American Red Cross expects to supply more food, water, temporary shelter and medical services as quickly as possible. UNICEF is sponsoring a specific Haiti Earthquake Fund to continue to provide for the children in the aftermath of the disaster. Operations USA is also seeking to provide food as well as health care materials and water purification supplies. Mercy Corps, an organization that has a history of providing for earthquake survivors, is sending a team of emergency personnel to fulfill the immediate concerns of the victims. National Nurses United have already sent 10,000 nurses and is currently seeking donations to send even more.
While many have already donated, some of the public’s concern with donating seems to be fear of illegitimate organizations or the improper allocations of funds. Wyclef Jean, considered to be a major contributor, was just recently under scrutiny for questionable appropriation of donations. Experts have warned to steer clear of organizations that claim to donate 100 percent of funds since charities are required to pay overhead fees. They also suggest donating to mainly well-known organizations, like the aforementioned UNICEF and American Red Cross.
Americans have donated more than 21 million dollars to the American Red Cross alone, and donations continue to be made. Far more organizations are donating than those already named; a sign that Americans truly unite in times of disaster.
During Wednesday evening’s “Agape Latte”, Father Richard McGowan spoke about microfinance and its relation to his observations in El Salvador. Father McGowan, an Associate Professor of the Carroll School of Management, taught economic and business forecasting at a university in San Salvador for the past three summers.
Since his contribution to the funerals of four alumni who were killed on 9/11, Father McGowan recalled his yearning to “get out of a rut.” Influenced by a fellow Jesuit, he began the long journey to El Salvador; a journey he did not realize would be recurrent throughout his life. He recalled the barbed wire of middle-class homes, the dead bodies along the highway, and the 6.5 earthquake that occurred during only his second week in El Salvador.
From his observations, Father McGowan realized that we need things like earthquakes to “shake us up.” In terms of microfinance, he compared earthquakes to taking risks. Father McGowan indicated the need to do our part by educating countries considered less economically sound, without completely financially supporting them. Just as we are taking risks by lending our time and help, we are allowing them to take risks by creating a future free of total economic dependency on another nation.
Although Father McGowan dedicated such a large amount of time to teaching in El Salvador, he realized he too was taking risks, risks that were potentially life threatening. Father McGowan acknowledged the many American Jesuits killed in El Salvador and the uncertainty of his safety abroad. Regardless, he continues to believe in the power of service, ending his lecture with, “Everybody gains when you start sharing a little.”
This past week, Barclays Capital held an information session to provide students with insight to their internship program, recruitment policies, and job positions. For those who missed the session here is a quick overview. The topic was “A Day in the Life of an Analyst” which is the starting position for employees of Barclays Capital and of the majority of other financial institutions. Barclays Capital is the investment banking subdivision of Barclays Bank PLC, and it is further divided into two distinct sections, Global Markets and Investment Banking. Each section is then comprised of numerous “groups” which specialize in certain financial services. The Global Markets Division comprises of groups concerning commodities, credit, equities, municipal bonds, and foreign exchange. The Investment Banking Division is organized into numerous industry and product groups including communications, media, middle market, real estate, and technology.
As an intern, you are assigned to a specific group – in a division of choice – and for ten weeks you are a “first-year analyst.” However, Barclays first has you attend a five-day training session – basically a crash course in the financial field you are about to work in. The training session will cover the basics; still most knowledge related to the job will result from the experience gained during the “first-year analyst” group assignment. Whether you are on the trading floor with an equities group, or in the office with an investment group, the experience will be fast paced and exciting, and will require all of your energy.
One of the most interesting points of the presentation was the emphasis placed on the need for passion in the workplace. If you know that you will never have a passion for the market or investment strategy, then this is not the career path to take. It is far too demanding a job to enter into halfheartedly, and recruiters certainly recognize applicants without that sense of drive. Only those who take a true and lasting interest in finance will find success in this challenging field.
