Osteoporosis Answers
New York Resident
By Pamela Appea
Everyone knows a friend, a neighbor or a loved one who has broken a hip due to osteoporosis, declined rapidly and perhaps even died. A chronic and degenerative disease, osteoporosis is a public health crisis in the U.S. that received some much needed attention by the American Medical Association last week in Manhattan. More than 28 million Americans are either at risk for osteoporosis or have the disease. Some 80 percent of sufferers are women.
Middle-aged people and senior citizens clock in 600,000 fracture-related emergency room visits annually. An additional 35,000 mature adults experience painful hip fractures and emergency room visits each year.
At the AMA conference, Dr. Sheryl Sherman, director of Maryland’s National Institute on Aging’s Clinical Endocrinology and Osteoporosis Research Program at the National Institutes of Health, reported that osteoporosis Medicare costs are well over $14 billion, according to a 1995 survey.
The negative impact of a fall can be reduced when frail patients are given cushioned hip protectors, according to one nursing home study. Sherman said this and other simple, commonsense measures can prevent or minimize long-term hospitalization, loss of mobility and extreme pain in senior citizens. In perimenopausal women, weight-bearing exercises and increased intake of calcium and vitamin D can optimize bone health.
Dr. Ethel Siris, director of the Toni Stabile Osteoporosis Center at Columbia Presbyterian Medical Center, said it is crucial that bone density tests be given regularly to all women over the age of 65. Bone mineral density tests should be given to women over 50 who show the following risk factors: being thin, being a smoker, experiencing a broken bone or having a family history of osteoporosis.
“You don’t know you have high blood pressure until you get a reading,” Siris said. “People should approach osteoporosis in the same way” and get bone-mineral density tests at least once every two years.
“And if you are diagnosed with osteoporosis or low-bone density, you can be much more proactive about preventing further bone loss and getting effective treatment.”
Osteoporosis sufferers in the past had only two treatment choices: to take or not take estrogen. At present, osteoporosis sufferers have a variety of more effective therapies to choose from. Siris noted that estrogen is certainly an effective treatment.
“You get more bang for your buck,” Siris said, noting estrogen is a bone-plus drug. But at the same time, Siris cautioned that estrogen treatments can cause side effects such as bleeding, bloating and deep-vein thrombosis.
With new classes of drugs, including selective estrogen receptor modules, the medications act like estrogen in some parts of the body and block the negative effects of estrogen in other parts of the body, Siris said.
Other drugs, including Raloxifene, bisphosphonates, Cacitonin and teriparatide, may work better for some. Raloxifene reduces the risk of breast cancer and has no risky or harmful effects on the heart, unlike estrogen.
The bottom line is if you have osteoporosis, you should get the tailored pharmacological treatment you need. And now, with more osteoporosis knowledge in the medical community, those with osteoporosis can expect an overall high quality of life instead of a painful decline.
“As our society ages, a greater percentage of people will be at risk for preventable bone fractures,” Siris said. “If we do not gain control of this situation, there will be a log of broken hips and a lot of broken lives.”
Originally published December 17, 2001
Monday, December 17, 2001
Thursday, November 01, 2001
When Asthma Doesn’t Play Fair: The Overwhelming Problem Among Disadvantaged Children
When Asthma Doesn’t Play Fair: The Overwhelming Problem Among Disadvantaged Children
Asthma Magazine
November/December 2001
Asthma can be a difficult disease to manage, particularly for young children. Asthma has been affecting more and more children during the past 20 years, particularly low-income and minority kids. Although minority and disadvantaged children are at the highest risk of developing asthma, they are the least likely to get diagnosed or treated, according to an American Lung Association report presented at the World Asthma Meeting in May 2001.
Why are so many minority and low-income kids developing asthma now? The overall stress of poverty may partially explain why so many of these children suffer from serious asthmatic episodes. For example, almost 40% of all homeless children nationwide have asthma. A Thomas Jefferson University study found asthma hospitalization rates increased directly in association with rates of poverty among blacks and whites in Philadelphia. In the same vein, asthma-related deaths in Arizona rose 11% statewide between 1980-1983, exceeding the national average, particularly among Latinos and other minorities. The state’s hospitalization rates for blacks is four times higher than for whites, the Arizona Asthma Coalition reports.
In disadvantaged urban areas like South Bronx, New York 15% of all children have asthma. Although a recent report found pediatric hospitalization rates had dropped in New York City, thanks largely [due to] a program called the Childhood Asthma Initiative, it is still a city full of asthma sufferers. Triggers such as crowded and unventilated homes, roaches, mouse and rat droppings, and animal dander are some reasons for high hospitalization rates among disadvantaged youth. Urban pollution certainly doesn’t help either, but experts don’t know exactly why asthma has exploded and become such a major health problem among these groups.
It’s a challenge that Shawn Bowen, MD, a pediatric asthma specialist for the Childhood Asthma Initiative, a partner of the Children’s Health Fun and the Montefiore Medical Center, faces every day. In practice with minority and disadvantaged populations for the past 5 years, Bowen says getting his patients’ families to embrace a proactive, preventative approach to managing their children’s asthma can be difficult. “Minority populations are high emergency room users,” Bowen says. And it’s useless to write a prescription for a newly diagnosed asthmatic child if the family doesn’t have the money to purchase the medicine. Bowen finds that he must work closely with families to make sure they follow up with the proper asthma treatment.
To successfully manage pediatric asthma, physicians say early diagnosis and treatment are crucial. Many patients of newly diagnosed asthmatics believe their child will outgrow the disease, a common myth. The reality is that untreated asthma can lead to decreased lung function and long-term lung disease later in life. Constant exposure to smoking, roaches, animal dander, and inadequate medical care will translate to missed school, emergency department visits, and overall poor health for asthmatic children. Asthma is the chronic condition responsible for the greatest number of school absences nationwide.
Asthma is a truly a disease that affects the entire family. Newly diagnosed asthma can meant a pet must be given away or other significant adjustments must be made. At the same time, when a low-income family is experiencing crisis, a child’s asthma may not be a priority, Bowen says. Recalling one situation, he says a single mother stopped bringing her child for follow-up appointments after her public assistance ended. When the organization’s nurse practitioner visited the home, she realized the loss of public assistance was a serious problem for the family’s health: not only was the child not able to get his medications, but the mother was not able to get her prescription filled for a serious psychiatric disorder. Once the situation was resolved, Bowen was able to check on his patient and make sure his asthma was controlled. “It’s a fragile situation. It requires constant monitoring,” he says.
Bowen finds that many of his patients typically don’t come for their follow-up appointments unless urged. “When people are feeling better, they don’t come for their appointments,” he says. Asthma is a chronic illness that needs to be monitored and controlled with consistent and ongoing medical care; otherwise it can flare out of control quickly.
In the case of homeless asthmatic children moving from shelter to shelter, it’s almost impossible to control risky environmental triggers like smoke, moldy carpets, pollution and stress. When faced with an asthma episode, many disadvantaged kids (and their parents) often don’t have access to the basic tools, such as a quick-relief inhaler, to help control them. “These are people who have been through a lot,” Bowen explains. Many of his patients are adjusting to a myriad of issues, including surviving welfare, leaving a domestic violence, or recovering from drug addiction or alcoholism. He and his staff try to help his patients’ families access the social services and medical resources they need.
According to experts, every aspect of a family’s lifestyle must be examined to properly manage asthma. Seasonal changes can mean renewed flare-ups, with seasons allergens, summer smog, or colr and flue season each presenting potent asthma triggers. Although a family may try to shield their child from cigarette smoke or make an effort to control his or her exposure to dust mites, the home may never be trigger-free. One study recently published in the journal Pediatrics (2001; 107:505-11) associated childhood asthma attacks with the use of a gas stove or oven for heating a common practice in the Southeast among low-income families. Keeping the oven on for heat could serve as a constant trigger, although the parents might not make the connection between their child’s repeated asthma attacks and the fact the oven is on. The high level of nitrogen dioxide and other emissions can be triggers for asthma, the report suggests.
Bowen finds a home visit and follow-up office visits are key in successfully treating his asthma patients. A Childhood Asthma Initiative nurse practitioner follows up with home or shelter visits, taking notes of potential visits. “She takes note of [such things as] the dust on the windows and the cigarette ash in the ashtray and then sits down with the family to talk about how they can cut down on triggers,” he says.
Bowen also explains how he tries to work with his patients and their families. “In my 5 years, I have not been able to get [some parents] to stop smoking,” he admits. But in other ways, he works to educate his patients as to the importance of removing carpeting, changing bedding, giving pets away, and dusting or vacuuming more often. He also tries to find a way to accommodate his patients’ alternative medicine treatments for asthma, making sure they understand the importance of taking prescribed anti-inflammatories and bronchodilators at the same time. “People swear up and down by different herbal remedies,” he says, mentioning herbal tea, Echinacea, and similar treatments. “As long as the remedies are not harmful, I try to be respectful,” he says.
Stabilizing family situations, building trust between doctor and patient, teaching and re-teaching doctor and children and parents about asthma management measures are the most important approaches to help low-income children with asthma live successful and healthy lives. The end results of these efforts is the empowerment of asthmatic kids and their families to know how they can control asthma instead of being controlled by it. Ending the viscous cycle of ER visits and hospitalizations among young patients is essential. “We have to provide asthma information in any way we can to get people to start understanding the disease,” Bowen explains.
Asthma Magazine
November/December 2001
Asthma can be a difficult disease to manage, particularly for young children. Asthma has been affecting more and more children during the past 20 years, particularly low-income and minority kids. Although minority and disadvantaged children are at the highest risk of developing asthma, they are the least likely to get diagnosed or treated, according to an American Lung Association report presented at the World Asthma Meeting in May 2001.
Why are so many minority and low-income kids developing asthma now? The overall stress of poverty may partially explain why so many of these children suffer from serious asthmatic episodes. For example, almost 40% of all homeless children nationwide have asthma. A Thomas Jefferson University study found asthma hospitalization rates increased directly in association with rates of poverty among blacks and whites in Philadelphia. In the same vein, asthma-related deaths in Arizona rose 11% statewide between 1980-1983, exceeding the national average, particularly among Latinos and other minorities. The state’s hospitalization rates for blacks is four times higher than for whites, the Arizona Asthma Coalition reports.
In disadvantaged urban areas like South Bronx, New York 15% of all children have asthma. Although a recent report found pediatric hospitalization rates had dropped in New York City, thanks largely [due to] a program called the Childhood Asthma Initiative, it is still a city full of asthma sufferers. Triggers such as crowded and unventilated homes, roaches, mouse and rat droppings, and animal dander are some reasons for high hospitalization rates among disadvantaged youth. Urban pollution certainly doesn’t help either, but experts don’t know exactly why asthma has exploded and become such a major health problem among these groups.
It’s a challenge that Shawn Bowen, MD, a pediatric asthma specialist for the Childhood Asthma Initiative, a partner of the Children’s Health Fun and the Montefiore Medical Center, faces every day. In practice with minority and disadvantaged populations for the past 5 years, Bowen says getting his patients’ families to embrace a proactive, preventative approach to managing their children’s asthma can be difficult. “Minority populations are high emergency room users,” Bowen says. And it’s useless to write a prescription for a newly diagnosed asthmatic child if the family doesn’t have the money to purchase the medicine. Bowen finds that he must work closely with families to make sure they follow up with the proper asthma treatment.
To successfully manage pediatric asthma, physicians say early diagnosis and treatment are crucial. Many patients of newly diagnosed asthmatics believe their child will outgrow the disease, a common myth. The reality is that untreated asthma can lead to decreased lung function and long-term lung disease later in life. Constant exposure to smoking, roaches, animal dander, and inadequate medical care will translate to missed school, emergency department visits, and overall poor health for asthmatic children. Asthma is the chronic condition responsible for the greatest number of school absences nationwide.
Asthma is a truly a disease that affects the entire family. Newly diagnosed asthma can meant a pet must be given away or other significant adjustments must be made. At the same time, when a low-income family is experiencing crisis, a child’s asthma may not be a priority, Bowen says. Recalling one situation, he says a single mother stopped bringing her child for follow-up appointments after her public assistance ended. When the organization’s nurse practitioner visited the home, she realized the loss of public assistance was a serious problem for the family’s health: not only was the child not able to get his medications, but the mother was not able to get her prescription filled for a serious psychiatric disorder. Once the situation was resolved, Bowen was able to check on his patient and make sure his asthma was controlled. “It’s a fragile situation. It requires constant monitoring,” he says.
Bowen finds that many of his patients typically don’t come for their follow-up appointments unless urged. “When people are feeling better, they don’t come for their appointments,” he says. Asthma is a chronic illness that needs to be monitored and controlled with consistent and ongoing medical care; otherwise it can flare out of control quickly.
In the case of homeless asthmatic children moving from shelter to shelter, it’s almost impossible to control risky environmental triggers like smoke, moldy carpets, pollution and stress. When faced with an asthma episode, many disadvantaged kids (and their parents) often don’t have access to the basic tools, such as a quick-relief inhaler, to help control them. “These are people who have been through a lot,” Bowen explains. Many of his patients are adjusting to a myriad of issues, including surviving welfare, leaving a domestic violence, or recovering from drug addiction or alcoholism. He and his staff try to help his patients’ families access the social services and medical resources they need.
According to experts, every aspect of a family’s lifestyle must be examined to properly manage asthma. Seasonal changes can mean renewed flare-ups, with seasons allergens, summer smog, or colr and flue season each presenting potent asthma triggers. Although a family may try to shield their child from cigarette smoke or make an effort to control his or her exposure to dust mites, the home may never be trigger-free. One study recently published in the journal Pediatrics (2001; 107:505-11) associated childhood asthma attacks with the use of a gas stove or oven for heating a common practice in the Southeast among low-income families. Keeping the oven on for heat could serve as a constant trigger, although the parents might not make the connection between their child’s repeated asthma attacks and the fact the oven is on. The high level of nitrogen dioxide and other emissions can be triggers for asthma, the report suggests.
Bowen finds a home visit and follow-up office visits are key in successfully treating his asthma patients. A Childhood Asthma Initiative nurse practitioner follows up with home or shelter visits, taking notes of potential visits. “She takes note of [such things as] the dust on the windows and the cigarette ash in the ashtray and then sits down with the family to talk about how they can cut down on triggers,” he says.
Bowen also explains how he tries to work with his patients and their families. “In my 5 years, I have not been able to get [some parents] to stop smoking,” he admits. But in other ways, he works to educate his patients as to the importance of removing carpeting, changing bedding, giving pets away, and dusting or vacuuming more often. He also tries to find a way to accommodate his patients’ alternative medicine treatments for asthma, making sure they understand the importance of taking prescribed anti-inflammatories and bronchodilators at the same time. “People swear up and down by different herbal remedies,” he says, mentioning herbal tea, Echinacea, and similar treatments. “As long as the remedies are not harmful, I try to be respectful,” he says.
Stabilizing family situations, building trust between doctor and patient, teaching and re-teaching doctor and children and parents about asthma management measures are the most important approaches to help low-income children with asthma live successful and healthy lives. The end results of these efforts is the empowerment of asthmatic kids and their families to know how they can control asthma instead of being controlled by it. Ending the viscous cycle of ER visits and hospitalizations among young patients is essential. “We have to provide asthma information in any way we can to get people to start understanding the disease,” Bowen explains.
Monday, October 22, 2001
Disrespecting Our Elders
Disrespecting Our Elders
Africana.com
Pamela Appea
Originally published October 22, 2001
Senora Russell never thought her father would be neglected or treated badly at the Bethany Nursing Home in Nashville, Tennessee. But Willie Russell, 83, who had lost his power of speech after a stroke, became increasingly withdrawn after moving into the assisted living facility in January 1999.
The Russell family began to see small, disturbing signs that Willie Russell was not receiving proper care. Senora arrived once at the home late in the day and it seemed as if her father had not been washed, toileted or recently fed. When she asked a caregiver for an explanation, the nursing home employee said, “I didn’t know we could get him up.”
Russell, herself a teacher and a caretaker for children and the Tennessee School for the Blind, vowed to visit her family more often so that she could take care of his daily needs herself. But during another visit, Senora Russell’s daughter found her grandfather had soiled his bed with feces, and that no one had come to help, or even to wash his hands. Her father was visibly distraught, Russell said.
Situations like these are becoming more and more common as the US population ages. While it’s difficult to determine how many seniors—and African American seniors—are the victims of abuse and neglect, the numbers have increased. Between 1986 and 1996, Adult Protective Services agencies nationwide found elder abuse and neglect claims increased by 150 percent. And a National Elder Abuse Incidence Study estimated that for each reported case of elder abuse, about five go unreported. A 1996 study found that 551,000 people aged 60 and over had experienced abuse and neglect, while advocacy groups like the American Association of Retired Persons report that as many as 25 percent of senior citizens may experience some form of abuse or neglect.
Carol Downs of the National Center on Elder Abuse in Washington, DC says African Americans are more likely than whites to live in extended family households than include multiple generations and both kin and non-kin. But while this fact may lead many to assume that in the African American community elder abuse and neglect is lower than the national average, experts warn this may not be the case.
“Studies have shown that African American parents over age 50 are most at risk to be victimized by their children, and are also more likely to be victimized by a partner,” Downs said. “Multigenerational families may live together due to stressful life circumstances such as divorce and drug problems, which have been shown to be risk factors for elder abuse.” And these socioeconomic and other factors may predispose African American seniors to elder abuse and neglect, which, besides physical mistreatment, can also involve financial and emotional exploitation.
Other groups like the St. Paul, Minnesota-based Institute on Domestic Violence in the African American Community, headed by Oliver Williams, have begun to delve into research on elder abuse and maltreatment. But the issue is shrouded in secrecy. No one—especially in the African American community, which is often purported to place exceptional value on the status of elders—is going to admit they exploit an older relative, spouse or other person they care for on a regular basis.
While most research groups and advocacy organizations for senior citizens do not address ethnic-specific concerns, in one rare instance, the Journal of the American Medical Association published a 1998 Brown University study charging nursing homes with neglecting African Americans and other minorities with terminal illnesses such as cancer. The study found African Americans were 50 percent less likely than whites to receive analgesics, like aspirin, to help relieve pain. But while some state justice programs are equipped to shut down an extremely negligent home when multiple cases of severe neglect are found, it is still hard for African American seniors to receive a high standard of care in both nursing homes and private homes.
Downs said it’s important to get awareness out through informal means, from beauty shops to cafeterias to churches. She acknowledges some in the African American community may distrust outreach programs because they “reinforce stereotypes” but says the effort must be made in a sensitive and culture-specific way. It all comes down to educating the public about what can happen behind closed doors, Downs said.
In Willie Russell’s case, things went from bad to worse at the Tennessee nursing home. Senora Russell said the staff began to put bandages on her father for what they explained to the family was a sensitive skin problem. After a downturn in Willie Russell’s health, Senora insisted on taking her father to the hospital—and the nursing home resisted, suggesting he should be left to die peacefully at the nursing home.
Once father and daughter did finally make it to the Nashville hospital, the nurses and doctors were horrified at Willie Russell’s condition, Senora recalled. His body was covered with infected sores, including his back, his genital area and his chest. “At the hospital, they said he would be treated like a burn patient,” Senora said. The infected sores smelled so bad that a nurse became physically ill.
Sores can originate from a myriad of factors, including unclean sheets, poor personal hygiene, poor diet and if the senior is not moved from the bed. Left untreated, the sores become infected, as they did in Willie Russell’s case. His foot was gangrenous and was amputated at the hospital, Senora said. He died a few days later at the hospital.
“I think it is terrible that people have to die like a dog,” Senora Russell said, noting that since her father’s death she has come into contact with others who have had similar experiences with their loved ones.
Russell has attended frequent conferences across the country to speak about her experiences, and says if she could do it all over again, she would have taken care of her father in her home. She chose Bethany Nursing Home because she believed it was a skilled facility that could give him the care he needed.
Russell filed a state complaint against the home, but it did not get far. And while local lawyers were sympathetic in listening to her case, she said they wanted “up front” money to begin an sort of lawsuit.
Russell said she never heard anything form Bethany Nursing Home, not even a formal apology. “I took them at their word,” she said of the nursing home, which is still operating. “I thought this was the best place for him.”
Her father’s only daughter, Russell, 57, said she was always close to her father, who worked for decades as a Coca-Cola Bottling Co. stocker and later as a truck driver to support a family of five children.
“If you had known my father … he was so strong, he helped people,” Russell said, remembering that even at age 80, before his decline, Willie Russell had driven his friends to the laundromat and grocery store because they could not.
It’s difficult for Senora Russell to accept that her father’s death may have resulted from the tragic negligence of people she was paying to take care if him.
“It’s just murder in another tone,” she said.
Africana.com
Pamela Appea
Originally published October 22, 2001
Senora Russell never thought her father would be neglected or treated badly at the Bethany Nursing Home in Nashville, Tennessee. But Willie Russell, 83, who had lost his power of speech after a stroke, became increasingly withdrawn after moving into the assisted living facility in January 1999.
The Russell family began to see small, disturbing signs that Willie Russell was not receiving proper care. Senora arrived once at the home late in the day and it seemed as if her father had not been washed, toileted or recently fed. When she asked a caregiver for an explanation, the nursing home employee said, “I didn’t know we could get him up.”
Russell, herself a teacher and a caretaker for children and the Tennessee School for the Blind, vowed to visit her family more often so that she could take care of his daily needs herself. But during another visit, Senora Russell’s daughter found her grandfather had soiled his bed with feces, and that no one had come to help, or even to wash his hands. Her father was visibly distraught, Russell said.
Situations like these are becoming more and more common as the US population ages. While it’s difficult to determine how many seniors—and African American seniors—are the victims of abuse and neglect, the numbers have increased. Between 1986 and 1996, Adult Protective Services agencies nationwide found elder abuse and neglect claims increased by 150 percent. And a National Elder Abuse Incidence Study estimated that for each reported case of elder abuse, about five go unreported. A 1996 study found that 551,000 people aged 60 and over had experienced abuse and neglect, while advocacy groups like the American Association of Retired Persons report that as many as 25 percent of senior citizens may experience some form of abuse or neglect.
Carol Downs of the National Center on Elder Abuse in Washington, DC says African Americans are more likely than whites to live in extended family households than include multiple generations and both kin and non-kin. But while this fact may lead many to assume that in the African American community elder abuse and neglect is lower than the national average, experts warn this may not be the case.
“Studies have shown that African American parents over age 50 are most at risk to be victimized by their children, and are also more likely to be victimized by a partner,” Downs said. “Multigenerational families may live together due to stressful life circumstances such as divorce and drug problems, which have been shown to be risk factors for elder abuse.” And these socioeconomic and other factors may predispose African American seniors to elder abuse and neglect, which, besides physical mistreatment, can also involve financial and emotional exploitation.
Other groups like the St. Paul, Minnesota-based Institute on Domestic Violence in the African American Community, headed by Oliver Williams, have begun to delve into research on elder abuse and maltreatment. But the issue is shrouded in secrecy. No one—especially in the African American community, which is often purported to place exceptional value on the status of elders—is going to admit they exploit an older relative, spouse or other person they care for on a regular basis.
While most research groups and advocacy organizations for senior citizens do not address ethnic-specific concerns, in one rare instance, the Journal of the American Medical Association published a 1998 Brown University study charging nursing homes with neglecting African Americans and other minorities with terminal illnesses such as cancer. The study found African Americans were 50 percent less likely than whites to receive analgesics, like aspirin, to help relieve pain. But while some state justice programs are equipped to shut down an extremely negligent home when multiple cases of severe neglect are found, it is still hard for African American seniors to receive a high standard of care in both nursing homes and private homes.
Downs said it’s important to get awareness out through informal means, from beauty shops to cafeterias to churches. She acknowledges some in the African American community may distrust outreach programs because they “reinforce stereotypes” but says the effort must be made in a sensitive and culture-specific way. It all comes down to educating the public about what can happen behind closed doors, Downs said.
In Willie Russell’s case, things went from bad to worse at the Tennessee nursing home. Senora Russell said the staff began to put bandages on her father for what they explained to the family was a sensitive skin problem. After a downturn in Willie Russell’s health, Senora insisted on taking her father to the hospital—and the nursing home resisted, suggesting he should be left to die peacefully at the nursing home.
Once father and daughter did finally make it to the Nashville hospital, the nurses and doctors were horrified at Willie Russell’s condition, Senora recalled. His body was covered with infected sores, including his back, his genital area and his chest. “At the hospital, they said he would be treated like a burn patient,” Senora said. The infected sores smelled so bad that a nurse became physically ill.
Sores can originate from a myriad of factors, including unclean sheets, poor personal hygiene, poor diet and if the senior is not moved from the bed. Left untreated, the sores become infected, as they did in Willie Russell’s case. His foot was gangrenous and was amputated at the hospital, Senora said. He died a few days later at the hospital.
“I think it is terrible that people have to die like a dog,” Senora Russell said, noting that since her father’s death she has come into contact with others who have had similar experiences with their loved ones.
Russell has attended frequent conferences across the country to speak about her experiences, and says if she could do it all over again, she would have taken care of her father in her home. She chose Bethany Nursing Home because she believed it was a skilled facility that could give him the care he needed.
Russell filed a state complaint against the home, but it did not get far. And while local lawyers were sympathetic in listening to her case, she said they wanted “up front” money to begin an sort of lawsuit.
Russell said she never heard anything form Bethany Nursing Home, not even a formal apology. “I took them at their word,” she said of the nursing home, which is still operating. “I thought this was the best place for him.”
Her father’s only daughter, Russell, 57, said she was always close to her father, who worked for decades as a Coca-Cola Bottling Co. stocker and later as a truck driver to support a family of five children.
“If you had known my father … he was so strong, he helped people,” Russell said, remembering that even at age 80, before his decline, Willie Russell had driven his friends to the laundromat and grocery store because they could not.
It’s difficult for Senora Russell to accept that her father’s death may have resulted from the tragic negligence of people she was paying to take care if him.
“It’s just murder in another tone,” she said.
Thursday, September 13, 2001
Food Stamp Applications Down, But Hunger Continues, Relief Group Says, Family Services Report
Food Stamp Applications Down, But Hunger Continues, Relief Group Says
By Pamela Appea
Family Services Report, Nutrition
September 13, 2000
Copyright 2000 by Community Development Publications
Hundreds of thousands of eligible recipients are passing up food stamps so they can avoid missing work, waiting on long lines at the county welfare office and filling out lengthy and intrusive applications, a report finds.
Over the past four years, food stamp applications across the U.S. have decreased by more than 33% to a participation rate of only 17 million people in the first quarter of 2000, says America’s Second Harvest, a hunger relief organization based in Chicago.
Marcus Fruchter, senior policy associate, at America’s Second Harvest, says the demand for food remains constant, with 31 million people in the U.S. “food insecure”—hungry or at risk of going hungry.
Fruchter says he’s hopeful low food stamp participation rates won’t affect the program’s funding. He says aggressive outreach to vulnerable populations will help make food stamps work better before its reauthorization in 2002.
“The obstacles the poor and the hungry face to become self-sufficient are often daunting enough for most people,” the report says. “Federal rules and state administration should not be creating a red tape divide for needy and hungry people.”
Second Harvest recommends federal policy makers simplify and shorten food stamp applications so more eligible people will apply.
While the strong economy accounts for some of the decline in food stamp applications, one-third of people potentially eligible for the food stamp program don’t participate the report says.
People who are eligible for food stamps feel discouraged by red tape and the stringent application process, the report says. To compensate, more are relying on help from charity groups and food banks like Second Harvest.
The survey finds 29 states and the District of Columbia have food stamp applications 10-36 pages long. And some applications ask for detailed information on children’s income and bank accounts; income from baby-sitting; charity and gifts from churches and synagogues and income from panhandling; bingo winnings, plasma donation and garage sales, the report says.
Info: 800/771-2303; For a copy of the report, www.secondhavest.org. USDA, 202/770-3631.
By Pamela Appea
Family Services Report, Nutrition
September 13, 2000
Copyright 2000 by Community Development Publications
Hundreds of thousands of eligible recipients are passing up food stamps so they can avoid missing work, waiting on long lines at the county welfare office and filling out lengthy and intrusive applications, a report finds.
Over the past four years, food stamp applications across the U.S. have decreased by more than 33% to a participation rate of only 17 million people in the first quarter of 2000, says America’s Second Harvest, a hunger relief organization based in Chicago.
Marcus Fruchter, senior policy associate, at America’s Second Harvest, says the demand for food remains constant, with 31 million people in the U.S. “food insecure”—hungry or at risk of going hungry.
Fruchter says he’s hopeful low food stamp participation rates won’t affect the program’s funding. He says aggressive outreach to vulnerable populations will help make food stamps work better before its reauthorization in 2002.
“The obstacles the poor and the hungry face to become self-sufficient are often daunting enough for most people,” the report says. “Federal rules and state administration should not be creating a red tape divide for needy and hungry people.”
Second Harvest recommends federal policy makers simplify and shorten food stamp applications so more eligible people will apply.
While the strong economy accounts for some of the decline in food stamp applications, one-third of people potentially eligible for the food stamp program don’t participate the report says.
People who are eligible for food stamps feel discouraged by red tape and the stringent application process, the report says. To compensate, more are relying on help from charity groups and food banks like Second Harvest.
The survey finds 29 states and the District of Columbia have food stamp applications 10-36 pages long. And some applications ask for detailed information on children’s income and bank accounts; income from baby-sitting; charity and gifts from churches and synagogues and income from panhandling; bingo winnings, plasma donation and garage sales, the report says.
Info: 800/771-2303; For a copy of the report, www.secondhavest.org. USDA, 202/770-3631.
Wednesday, April 18, 2001
Kids Learn to Break Cycle of Addiction, Children & Youth Funding Report
Kids Learn to Break Cycle of Addiction
By Pamela Appea
Children & Youth Funding Report, Model Programs
April 18, 2001
Copyright 2001 by Community Development Publications
New York—Many children end up homeless because of parental substance abuse; studies show these kids are themselves at high risk of drug or alcohol dependency.
The Dallas-based nonprofit Rainbow Days works to break this cycle by giving homeless and nonhomeless kids individualized life-skills training and support in their schools, communities and homes, Cathy Brown, Rainbow Days executive director, tells attendees at an Institute for Children & Poverty conference.
Rainbow Days’ Family Connections program works with kids in small groups to help them deal with decision-making, family, friends and school. Each group gives kids age-appropriate ways to deal with substance abuse issues. Program participants also enroll in short-term university camps, summer camps and art groups where they develop life skills and a strong conviction against using drugs or alcohol. Parents and guardians can participate.
Part of Rainbow Days’ strategy is giving children community-service obligations. Brown says people come to her, asking incredulously, “You have homeless children doing community service?” Brown’s reply: “You bet.”
Over 32,000 children and youth have enrolled in Rainbow Days-sponsored programs since its inception, Sandi McFarland, a training administrative specialist tells CYF.
How Rainbow Days got started
After coming to terms with her own alcoholism 19 years ago, Brown realized her young daughter was also at risk. Using her own experience as a teacher and a counselor, Brown started working with a small group of children, including her daughter, affected by parental addiction. Rainbow Days became incorporated in 1982.
Soon after, Brown began working with children at a Dallas shelter. Since then, Rainbow Days has spread to homeless shelters across the city.
The program has been honored by the federal Housing and Urban Development Dept.
Some 80% of Rainbow Days’ $2.5 million operating budget comes from federal grants; the rest comes from sources such as the Texas Commission on Alcohol and Drugs. The Texas Criminal Div. and the United Way.
Info: Brown, 214/887-0726’ www.rdikids.org.
By Pamela Appea
Children & Youth Funding Report, Model Programs
April 18, 2001
Copyright 2001 by Community Development Publications
New York—Many children end up homeless because of parental substance abuse; studies show these kids are themselves at high risk of drug or alcohol dependency.
The Dallas-based nonprofit Rainbow Days works to break this cycle by giving homeless and nonhomeless kids individualized life-skills training and support in their schools, communities and homes, Cathy Brown, Rainbow Days executive director, tells attendees at an Institute for Children & Poverty conference.
Rainbow Days’ Family Connections program works with kids in small groups to help them deal with decision-making, family, friends and school. Each group gives kids age-appropriate ways to deal with substance abuse issues. Program participants also enroll in short-term university camps, summer camps and art groups where they develop life skills and a strong conviction against using drugs or alcohol. Parents and guardians can participate.
Part of Rainbow Days’ strategy is giving children community-service obligations. Brown says people come to her, asking incredulously, “You have homeless children doing community service?” Brown’s reply: “You bet.”
Over 32,000 children and youth have enrolled in Rainbow Days-sponsored programs since its inception, Sandi McFarland, a training administrative specialist tells CYF.
How Rainbow Days got started
After coming to terms with her own alcoholism 19 years ago, Brown realized her young daughter was also at risk. Using her own experience as a teacher and a counselor, Brown started working with a small group of children, including her daughter, affected by parental addiction. Rainbow Days became incorporated in 1982.
Soon after, Brown began working with children at a Dallas shelter. Since then, Rainbow Days has spread to homeless shelters across the city.
The program has been honored by the federal Housing and Urban Development Dept.
Some 80% of Rainbow Days’ $2.5 million operating budget comes from federal grants; the rest comes from sources such as the Texas Commission on Alcohol and Drugs. The Texas Criminal Div. and the United Way.
Info: Brown, 214/887-0726’ www.rdikids.org.
Tuesday, April 03, 2001
Deaf and Black in America
Deaf and Black in America
By Pamela Appea
Africana.comwww.africana.com
Wednesday, April 3, 2001
Fred Beam says white people see him as black first, deaf second. On the flip side, "In the eyes of Black hearing people, I am deaf first." The life of a black deaf person can seem like a separate, foreign world – isolated from both other deaf folks because of race, and from hearing African Americans.
"It was lonely being a Deaf student attending a mainstream school, while growing up," writes Beam, a graduate student at Gallaudet, the nation's premier Deaf university, and president of the Washington, DC chapter of the National Black Deaf Advocates. (Beam and other deaf people quoted in this article mostly communicated with me via email, a technology increasingly embraced by more and more deaf people.) "I remember the feeling of not finding someone like myself in school."
To deaf blacks, their isolation from hearing blacks can be painfully apparent every day. Fighting for equal access on two fronts makes life a double struggle; worse, most deaf black people say hearing blacks are oblivious to the needs and concerns of the deaf.
Glenn Anderson, a professor at University of Arkansas and a Gallaudet alumnus, points out that while most television networks have improved their efforts at captioning programs following the Federal Communication Center's Telecommunications Act of 1996, one notable exception is Black Entertainment Television.
"Representatives of the National Black Deaf Advocates have for the past several years made contact with BET and encouraged them to caption their programs," Anderson says. Only recently, after years of complaints, has BET begun to show even a small number of captioned programs.
Part of the problem, Anderson believes, is that BET executives don't see the black deaf community as being a broad enough (read important) part of their audience. While no reliable statistics exist, several deaf blacks estimate that they account for roughly 10-13% of the 25 to 26 million total deaf and hard of hearing population. That's a large community – more than 2 million people – and one deaf black advocates say is doubly disadvantaged.
Rates of unemployment and underemployment for deaf blacks are disproportionately high. Anderson, who sits on the Gallaudet board of directors and also serves on the Arkansas chapter of National Black Deaf Advocates, notes that the number of deaf blacks who continue their education beyond high school is "dismal." Every year, he says, when he sits on the stage at Gallaudet commencement, he notices the visibly low number of black graduates as compared with whites.
African Americans comprise 11% of the school's student body of 2,300, says Lindsay Moeletsi Dunn, a special assistant for diversity and community relations at Gallaudet. However, as at other universities with high deaf populations, including the University of California at Northridge and the Rochester Institute of Technology in New York, matriculation rates are lower than enrollment rates, particularly for black students.
If black students find themselves in the minority at deaf schools, deaf children are often isolated in black families. Irene, a white teacher of deaf children of all races, says her black students often sign to her about beatings they get at home from their hearing parents, many of whom, Irene notes, do not take the time to learn sign language, or to come in for parent-teacher conferences.
In addition, black deaf students are poorly served by the public school system. "Black deaf high school students are not given many opportunities," Irene says. "They are almost always placed in vocational classes. They are not given the opportunity to take pre-college classes." Many black deaf children are incorrectly identified as learning disabled, Irene adds, and further hampered by low expectations.
But things are getting better for many young black deaf people, especially those fortunate enough to go to college. While the black deaf community is diverse in itself, and while black graduates of Gallaudet often have a wide range of career opportunities, the older generations of deaf blacks aren't so lucky. Joyce Cobbs, an interpreter and member of the Nashville Chapter of Black Deaf Advocates, says the life of a low-income older deaf black person can be scary, confusing and lonely. Educated in substandard Jim Crow schools, often growing up in a world that didn't understand deafness, or equated it with stupidity, many never reached literacy, dooming them to lives on the fringes, marginalized and often ignored.
Cobbs, who has worked as an interpreter for 40 years, says that she's heard countless tales of police harassment, sexual abuse and rape of deaf black individuals. Most go unreported.
Early experiences of isolation and humiliation can set a pattern for life, Cobbs says. The challenge, as she sees it, is to make deaf black seniors aware of how much has changed, how many opportunities now exist for the deaf in America. She adds a caveat: "A deaf person can do whatever they want today – if they have the money." Few older deaf blacks do.
For the younger generation, the challenge is not so much about survival as identity – developing relationships and friendships with hearing blacks, and feeling a part of the larger black community. Teresa Pegram, a computer programmer who lives in Virginia, complains that hearing black men don't want to date deaf black women. A Gallaudet graduate and divorced mother of two, Pegram says that during her school years she began to see how hard it was to find an educated black deaf man. She turned to hearing black men, but most were unreceptive.
"I learned the hard way when communicating with hearing black guys via online messages," Pegram says. "They wanted to know why I couldn't talk on the phone, and once they found out I was deaf, they weren't interested anymore."
There are, however, some marriages that have flourished between deaf black and hearing black individuals. Dunn, the Gallaudet administrator and a native of South Africa, talks of his strong relationship with his black, hearing wife of 11 years, Pauline Heard-Dunn.
"Pauline was able to sign when I met her so courting was not a problem at all. However, her family and friends were another story," Dunn says, adding that his wife's relations warmed up to him once they met him. "Hearing people will be surprised that once the communication barrier is no longer a barrier, they both get to enjoy each others cultures." The couple's three hearing children, Thandi, Jamillah and Mandla, are the epitome of a deaf-hearing partnership: all three began to sign before they started talking, and are, naturally, bilingual.
"Hearing people need to stop the paternalistic attitude towards disabled people and to learn about us," Dunn says. "Deafness to me is the least restrictive disability, especially since it is easier for a hearing person to learn sign that it is for an African American to learn Japanese or even German. Change attitudes and we can break down walls."
Pamela Appea is a freelance writer living in New York.
By Pamela Appea
Africana.comwww.africana.com
Wednesday, April 3, 2001
Fred Beam says white people see him as black first, deaf second. On the flip side, "In the eyes of Black hearing people, I am deaf first." The life of a black deaf person can seem like a separate, foreign world – isolated from both other deaf folks because of race, and from hearing African Americans.
"It was lonely being a Deaf student attending a mainstream school, while growing up," writes Beam, a graduate student at Gallaudet, the nation's premier Deaf university, and president of the Washington, DC chapter of the National Black Deaf Advocates. (Beam and other deaf people quoted in this article mostly communicated with me via email, a technology increasingly embraced by more and more deaf people.) "I remember the feeling of not finding someone like myself in school."
To deaf blacks, their isolation from hearing blacks can be painfully apparent every day. Fighting for equal access on two fronts makes life a double struggle; worse, most deaf black people say hearing blacks are oblivious to the needs and concerns of the deaf.
Glenn Anderson, a professor at University of Arkansas and a Gallaudet alumnus, points out that while most television networks have improved their efforts at captioning programs following the Federal Communication Center's Telecommunications Act of 1996, one notable exception is Black Entertainment Television.
"Representatives of the National Black Deaf Advocates have for the past several years made contact with BET and encouraged them to caption their programs," Anderson says. Only recently, after years of complaints, has BET begun to show even a small number of captioned programs.
Part of the problem, Anderson believes, is that BET executives don't see the black deaf community as being a broad enough (read important) part of their audience. While no reliable statistics exist, several deaf blacks estimate that they account for roughly 10-13% of the 25 to 26 million total deaf and hard of hearing population. That's a large community – more than 2 million people – and one deaf black advocates say is doubly disadvantaged.
Rates of unemployment and underemployment for deaf blacks are disproportionately high. Anderson, who sits on the Gallaudet board of directors and also serves on the Arkansas chapter of National Black Deaf Advocates, notes that the number of deaf blacks who continue their education beyond high school is "dismal." Every year, he says, when he sits on the stage at Gallaudet commencement, he notices the visibly low number of black graduates as compared with whites.
African Americans comprise 11% of the school's student body of 2,300, says Lindsay Moeletsi Dunn, a special assistant for diversity and community relations at Gallaudet. However, as at other universities with high deaf populations, including the University of California at Northridge and the Rochester Institute of Technology in New York, matriculation rates are lower than enrollment rates, particularly for black students.
If black students find themselves in the minority at deaf schools, deaf children are often isolated in black families. Irene, a white teacher of deaf children of all races, says her black students often sign to her about beatings they get at home from their hearing parents, many of whom, Irene notes, do not take the time to learn sign language, or to come in for parent-teacher conferences.
In addition, black deaf students are poorly served by the public school system. "Black deaf high school students are not given many opportunities," Irene says. "They are almost always placed in vocational classes. They are not given the opportunity to take pre-college classes." Many black deaf children are incorrectly identified as learning disabled, Irene adds, and further hampered by low expectations.
But things are getting better for many young black deaf people, especially those fortunate enough to go to college. While the black deaf community is diverse in itself, and while black graduates of Gallaudet often have a wide range of career opportunities, the older generations of deaf blacks aren't so lucky. Joyce Cobbs, an interpreter and member of the Nashville Chapter of Black Deaf Advocates, says the life of a low-income older deaf black person can be scary, confusing and lonely. Educated in substandard Jim Crow schools, often growing up in a world that didn't understand deafness, or equated it with stupidity, many never reached literacy, dooming them to lives on the fringes, marginalized and often ignored.
Cobbs, who has worked as an interpreter for 40 years, says that she's heard countless tales of police harassment, sexual abuse and rape of deaf black individuals. Most go unreported.
Early experiences of isolation and humiliation can set a pattern for life, Cobbs says. The challenge, as she sees it, is to make deaf black seniors aware of how much has changed, how many opportunities now exist for the deaf in America. She adds a caveat: "A deaf person can do whatever they want today – if they have the money." Few older deaf blacks do.
For the younger generation, the challenge is not so much about survival as identity – developing relationships and friendships with hearing blacks, and feeling a part of the larger black community. Teresa Pegram, a computer programmer who lives in Virginia, complains that hearing black men don't want to date deaf black women. A Gallaudet graduate and divorced mother of two, Pegram says that during her school years she began to see how hard it was to find an educated black deaf man. She turned to hearing black men, but most were unreceptive.
"I learned the hard way when communicating with hearing black guys via online messages," Pegram says. "They wanted to know why I couldn't talk on the phone, and once they found out I was deaf, they weren't interested anymore."
There are, however, some marriages that have flourished between deaf black and hearing black individuals. Dunn, the Gallaudet administrator and a native of South Africa, talks of his strong relationship with his black, hearing wife of 11 years, Pauline Heard-Dunn.
"Pauline was able to sign when I met her so courting was not a problem at all. However, her family and friends were another story," Dunn says, adding that his wife's relations warmed up to him once they met him. "Hearing people will be surprised that once the communication barrier is no longer a barrier, they both get to enjoy each others cultures." The couple's three hearing children, Thandi, Jamillah and Mandla, are the epitome of a deaf-hearing partnership: all three began to sign before they started talking, and are, naturally, bilingual.
"Hearing people need to stop the paternalistic attitude towards disabled people and to learn about us," Dunn says. "Deafness to me is the least restrictive disability, especially since it is easier for a hearing person to learn sign that it is for an African American to learn Japanese or even German. Change attitudes and we can break down walls."
Pamela Appea is a freelance writer living in New York.
Wednesday, March 21, 2001
Bone Marrow Donations: More Blacks Need Apply
Bone Marrow Donations: More Blacks Need Apply
Africana.com
By Pamela Appea
Walter Chism says he used to think leukemia wasn’t a disease blacks had to think too much about. But after Chism’s five-year-old granddaughter, Bria, was diagnosed with chronic myeloid leukemia in the fall of 1998, the reality of leukemia’s relevance to the African American community hit home.
The Chisms, who live in the Kansas City, Missouri area, learned that Bria’s one shot at survival hinged on a bone marrow transplant. As none of her family members were able to provide a good match for Bria, their hopes turned to donor matches. Three months later, Bria and her family learned of a woman in England whose marrow was a good match, though not a perfect one, for Bria’s.
While the bone marrow transplantation procedure went well, Bria succumbed to the disease a few months after her sixth birthday. She died in my arms,” says Walter Chism, who, along with his wife LaGail, had raised Bria since birth.
Bria’s death changed a lot of things for the Chisms. They started going to church more and became more involved in their community. And in December 1999, the Chisms launched the Bria T. Chism Foundation, a Raytown, Missouri-based organization devoted to raising awareness about bone marrow donation in the African American community. By going to churches, universities, community centers and other groups, the non-profit foundation, which also provides financial and economic support to people with leukemia and other blood diseases, has signed up almost 200 African Americans in Missouri.
Bone marrow, the spongy tissue found inside the bone, is typically extracted from a donor’s hip or pelvic area. Beginning in the late 1960s, doctors have used bone marrow transplants to treat leukemia, sickle cell anemia, lymphoma and other blood-related diseases. A related procedure, stem cell transplantation, uses immature blood cells in battling some of the same illnesses.
The best donors for such procedures are usually found within one’s own biological family. But, according to experts, more than 70 percent of patients cannot find a match within their families and must seek a match from an unrelated donor.
Because some characteristics of tissue type vary among ethnic groups, it is most likely a person will find a match with someone of their own race according to the National Marrow Donor Program (NMDP), a Minneapolis-based organization that matches patients with anonymous donors nationwide through a vast volunteer registry.
But because fewer African Americans are listed on the registry, black patients in need of bone marrow transplants have even lower odds of finding a potential match--and because of this, mortality rates for blacks with leukemia are higher than for whites. Despite some Recent high-profile cases, such as the publicity surrounding the death of baseball start Rod Carew’s daughter, or Charles Dutton’s televised plea for donors to help his niece, registered donors in the African American community lag behind other populations.
African-Americans Uniting for Life” is the NMDP’s campaign to recruit more minorities to join the national bone marrow registry. Since its inception in 1995, says Helen Ng, spokeswoman for the National Marrow Donor Program, the organization has seen the numbers of African Americans in the registry more than triple.
The numbers are still discouraging. Founded in 1987, the NMDP has seen 339,000 African Americans register as donors, compared to nearly 2.5 million whites. Because the change of finding a match increases exponentially with the size of the donor pool, that means that only 490 African Americans have received transplants based on NMDP matches, while some 9,5000 whites have in the same time period. Another initiative focusing on bone marrow donation, the Judie Davis Morrow Donor Program, is named for an African American woman who died awaiting a donor; it estimates that African Americans receive transplants only 3.3% of the time, as compared to a rate of 85% to 88% for whites.
Why are there fewer black donors? According to a survey conducted by Clive Callendar, director of the Transplant Center for Howard University and founder of the National Minority Organ Tissue Transplant Education Program (MOTTEP), the five main reasons African Americans are less likely to donate organs or tissues are: lack of information, religious beliefs, fear, mistrust of the medical community and doubts that donated organs are fairly distributed. MOTTEP and other groups have had significant success in the past decade increasing the number of blacks registered as organ donors, but the demand still far outweighs the supply.
Walter Chism says people are hesitant to donate marrow because there is still a lack of knowledge about the process and how it benefits others. He also noted that racist treatment by the medical establishment, in incidents such as the Tuskegee Syphilis Experiment as well as day-to-day inequities, still linger in the minds of African Americans.
“We have to get past those old stereotypes,” Chism says, adding that diversity among registry staff itself is important. “When somebody comes to you with a request and they look like you,” he say,” he says, “Perhaps people will be willing to donate.”
Isaac Fordjour, NMDP’s Northeast manager for outreach and recruitment, says the lack the lack of African American representation in the bone marrow registry pool is regrettable.
“It’s not that African Americans are not getting sick,” Fordjour says, noting that when he goes on NMDP bone marrow drives in white communities, “the lines can be out the door,” and he has sometimes had to turn people away when the supplies ran out. On the other hand, Fordjour says, he has experienced more than one less-than-successful church-based bone marrow drive targeted at the African American: “It was basically the minister and I looking at each other,” Fordjour bluntly recalls.
“People think donating is a very painful, intrusive procedure,” Fordjour says. “It couldn’t be further from the truth.” Fordjour saw a fraternity brother die of leukemia about six years ago because the University of Memphis junior could not find a match. He joined the organization as a volunteer during that time, but he quickly found his vocation has worked on the national level since 1997: it’s more than just a job for him.
Joining the registry takes only a few minutes, bone marrow donor advocates say, including filling out a name and address form and giving a blood sample. If and when a potential donor matches with a potential recipient, the donor, the donor is asked to undergo an outpatient procedure lasting about 45 to 90 minutes—potential donors are never forced to donate. Generally a bone marrow donor spends less than a full day at the hospital. Bone marrow, like blood, is naturally regenerated by the body.
“Leukemia is a life-threatening disease. You need to make a diagnosis quickly, you need to make treatment quickly,” said Chatchada Larames, M.D., medical director of the National Marrow Donor Program, Karanes, who worked at Wayne State’s medical school in their bone marrow division for 20 years, says receiving a bone marrow donation is crucial if a patient is going to survive.
Because African Americans are often multiracial, with Native Americans, white and other ethnic groups in their ancestral heritage, Karanes says finding a bone marrow match becomes every harder. The more African Americans, Latinos, Native Americans and white who join, she adds, the better the chances for a match for everyone.
Anyone can donate bone marrow, if they are in good health, and between the ages of 18 and 60, Karanes says. Even people with mild arthritis, mild asthma and diet-controlled diabetes are typically eligible to donate their bone marrow.
Gloria Shelton, a 39-year-old real estate appraiser, says she was called a year after she signed up for the bone marrow registry at a music festival in South Carolina. “It really doesn’t hurt,” says Shelton, who received general anesthesia during the procedure. “I was a little stuff for the first two days,” she says, but adds that she would do it again in a heartbeat.
Bob Tolden is glad she did. Tolden, a mining engineer from Tuscon, Arizona, found out that he had leukemia on March 4, 1998. A single father, Tolden was afraid he wouldn’t be around to take care of his daughter. He found a match within a few months: Gloria Shelton.
Donors and recipients are kept anonymous from each other for about a year. But in gratitude, Tolden wrote to his donor. The two began to write to each other, and eventually met. “She saved my life,” Tolden says simply. Like Bria Chism, Tolden developed graft-versus-host-disease, a post-operative risk to bone marrow transplants in which the donor’s T-cells recognize they are in a new body and actually attack the body, causing severe problems. But Tolden overcome active in bone marrow donation drives. He says he stays in regular email and telephone contact with Shleton, who is now godmother to his daughter.
The bottom line, all agree, is getting the word out: black leukemia deaths can be prevented by increased bone marrow donation. “The biggest problem was lack of knowledge.”
“I don’t care where you are,” adds Fordjour. “You can host a donor drive, or at least tell another person. You can do something about it today.”
Originally published March 21, 2001
Africana.com
By Pamela Appea
Walter Chism says he used to think leukemia wasn’t a disease blacks had to think too much about. But after Chism’s five-year-old granddaughter, Bria, was diagnosed with chronic myeloid leukemia in the fall of 1998, the reality of leukemia’s relevance to the African American community hit home.
The Chisms, who live in the Kansas City, Missouri area, learned that Bria’s one shot at survival hinged on a bone marrow transplant. As none of her family members were able to provide a good match for Bria, their hopes turned to donor matches. Three months later, Bria and her family learned of a woman in England whose marrow was a good match, though not a perfect one, for Bria’s.
While the bone marrow transplantation procedure went well, Bria succumbed to the disease a few months after her sixth birthday. She died in my arms,” says Walter Chism, who, along with his wife LaGail, had raised Bria since birth.
Bria’s death changed a lot of things for the Chisms. They started going to church more and became more involved in their community. And in December 1999, the Chisms launched the Bria T. Chism Foundation, a Raytown, Missouri-based organization devoted to raising awareness about bone marrow donation in the African American community. By going to churches, universities, community centers and other groups, the non-profit foundation, which also provides financial and economic support to people with leukemia and other blood diseases, has signed up almost 200 African Americans in Missouri.
Bone marrow, the spongy tissue found inside the bone, is typically extracted from a donor’s hip or pelvic area. Beginning in the late 1960s, doctors have used bone marrow transplants to treat leukemia, sickle cell anemia, lymphoma and other blood-related diseases. A related procedure, stem cell transplantation, uses immature blood cells in battling some of the same illnesses.
The best donors for such procedures are usually found within one’s own biological family. But, according to experts, more than 70 percent of patients cannot find a match within their families and must seek a match from an unrelated donor.
Because some characteristics of tissue type vary among ethnic groups, it is most likely a person will find a match with someone of their own race according to the National Marrow Donor Program (NMDP), a Minneapolis-based organization that matches patients with anonymous donors nationwide through a vast volunteer registry.
But because fewer African Americans are listed on the registry, black patients in need of bone marrow transplants have even lower odds of finding a potential match--and because of this, mortality rates for blacks with leukemia are higher than for whites. Despite some Recent high-profile cases, such as the publicity surrounding the death of baseball start Rod Carew’s daughter, or Charles Dutton’s televised plea for donors to help his niece, registered donors in the African American community lag behind other populations.
African-Americans Uniting for Life” is the NMDP’s campaign to recruit more minorities to join the national bone marrow registry. Since its inception in 1995, says Helen Ng, spokeswoman for the National Marrow Donor Program, the organization has seen the numbers of African Americans in the registry more than triple.
The numbers are still discouraging. Founded in 1987, the NMDP has seen 339,000 African Americans register as donors, compared to nearly 2.5 million whites. Because the change of finding a match increases exponentially with the size of the donor pool, that means that only 490 African Americans have received transplants based on NMDP matches, while some 9,5000 whites have in the same time period. Another initiative focusing on bone marrow donation, the Judie Davis Morrow Donor Program, is named for an African American woman who died awaiting a donor; it estimates that African Americans receive transplants only 3.3% of the time, as compared to a rate of 85% to 88% for whites.
Why are there fewer black donors? According to a survey conducted by Clive Callendar, director of the Transplant Center for Howard University and founder of the National Minority Organ Tissue Transplant Education Program (MOTTEP), the five main reasons African Americans are less likely to donate organs or tissues are: lack of information, religious beliefs, fear, mistrust of the medical community and doubts that donated organs are fairly distributed. MOTTEP and other groups have had significant success in the past decade increasing the number of blacks registered as organ donors, but the demand still far outweighs the supply.
Walter Chism says people are hesitant to donate marrow because there is still a lack of knowledge about the process and how it benefits others. He also noted that racist treatment by the medical establishment, in incidents such as the Tuskegee Syphilis Experiment as well as day-to-day inequities, still linger in the minds of African Americans.
“We have to get past those old stereotypes,” Chism says, adding that diversity among registry staff itself is important. “When somebody comes to you with a request and they look like you,” he say,” he says, “Perhaps people will be willing to donate.”
Isaac Fordjour, NMDP’s Northeast manager for outreach and recruitment, says the lack the lack of African American representation in the bone marrow registry pool is regrettable.
“It’s not that African Americans are not getting sick,” Fordjour says, noting that when he goes on NMDP bone marrow drives in white communities, “the lines can be out the door,” and he has sometimes had to turn people away when the supplies ran out. On the other hand, Fordjour says, he has experienced more than one less-than-successful church-based bone marrow drive targeted at the African American: “It was basically the minister and I looking at each other,” Fordjour bluntly recalls.
“People think donating is a very painful, intrusive procedure,” Fordjour says. “It couldn’t be further from the truth.” Fordjour saw a fraternity brother die of leukemia about six years ago because the University of Memphis junior could not find a match. He joined the organization as a volunteer during that time, but he quickly found his vocation has worked on the national level since 1997: it’s more than just a job for him.
Joining the registry takes only a few minutes, bone marrow donor advocates say, including filling out a name and address form and giving a blood sample. If and when a potential donor matches with a potential recipient, the donor, the donor is asked to undergo an outpatient procedure lasting about 45 to 90 minutes—potential donors are never forced to donate. Generally a bone marrow donor spends less than a full day at the hospital. Bone marrow, like blood, is naturally regenerated by the body.
“Leukemia is a life-threatening disease. You need to make a diagnosis quickly, you need to make treatment quickly,” said Chatchada Larames, M.D., medical director of the National Marrow Donor Program, Karanes, who worked at Wayne State’s medical school in their bone marrow division for 20 years, says receiving a bone marrow donation is crucial if a patient is going to survive.
Because African Americans are often multiracial, with Native Americans, white and other ethnic groups in their ancestral heritage, Karanes says finding a bone marrow match becomes every harder. The more African Americans, Latinos, Native Americans and white who join, she adds, the better the chances for a match for everyone.
Anyone can donate bone marrow, if they are in good health, and between the ages of 18 and 60, Karanes says. Even people with mild arthritis, mild asthma and diet-controlled diabetes are typically eligible to donate their bone marrow.
Gloria Shelton, a 39-year-old real estate appraiser, says she was called a year after she signed up for the bone marrow registry at a music festival in South Carolina. “It really doesn’t hurt,” says Shelton, who received general anesthesia during the procedure. “I was a little stuff for the first two days,” she says, but adds that she would do it again in a heartbeat.
Bob Tolden is glad she did. Tolden, a mining engineer from Tuscon, Arizona, found out that he had leukemia on March 4, 1998. A single father, Tolden was afraid he wouldn’t be around to take care of his daughter. He found a match within a few months: Gloria Shelton.
Donors and recipients are kept anonymous from each other for about a year. But in gratitude, Tolden wrote to his donor. The two began to write to each other, and eventually met. “She saved my life,” Tolden says simply. Like Bria Chism, Tolden developed graft-versus-host-disease, a post-operative risk to bone marrow transplants in which the donor’s T-cells recognize they are in a new body and actually attack the body, causing severe problems. But Tolden overcome active in bone marrow donation drives. He says he stays in regular email and telephone contact with Shleton, who is now godmother to his daughter.
The bottom line, all agree, is getting the word out: black leukemia deaths can be prevented by increased bone marrow donation. “The biggest problem was lack of knowledge.”
“I don’t care where you are,” adds Fordjour. “You can host a donor drive, or at least tell another person. You can do something about it today.”
Originally published March 21, 2001
Thursday, March 01, 2001
Salomon Smith Barney Prime Brokerage Profile, Alternative Investment News
Prime Brokerage Profile, Alternative Investment News
By Pamela Appea
Salomon Smith Barney, a member of Citigroup
Barry Weiss, managing director of equity finance
Sal Campo, managing director, equity finance division
Thomas Tesauro, managing director, co head of global equity finance
By Pamela Appea
Salomon Smith Barney’s prime brokerage division is launching an international prime brokerage effort. At the same time, it is looking to aggressively attract assets from institutional investors by introducing new services, for example, in the area of risk management, said Sal Campo, managing director of the equity finance division, under which falls prime brokerage.
Prime Brokerage Services/Structure
SSB’s prime brokerage division was started five years ago, and it now aims to become a full-service global firm, to take its place in line with older more-established prime brokerage units. SSB services medium to large-sized hedge funds, said Campo, noting the group’s largest hedge fund clients boasts about $4 billion to $5 billion in assets and its smallest hedge fund weighs in at $50 million.
SSB offers services including securities lending, operations, technology and customer service. It has gained additional support services through the Citigroup merger, including insurance, research and banking, which SSB hopes will strengthen relations with institutional investors, such as pension funds, said Campo. In addition, Citigroup has a capital introductions group, which is beneficial to SSB’s prime brokerage clients. A Citi staffer can introduce pension funds to the prime brokerage group’s clients, Campo explained.
Institutions seen gaining in Importance
As more institutional investors—pension funds, endowments and foundations—commit dollars to hedge funds and other alternative investments, SSB’s prime brokerage division is looking for ways to better accommodate institutional investors served by the division’s hedge fund clients, said Thomas Tesauro, managing director.
Pension funds, many of which have established relationships with Citi, are still somewhat skittish, however. To attract these investors to its hedge fund clients, SSB is currently planning on expanding or developing transparency and risk management services. The group is putting a formal risk management system in place, Campo said, noting pensions want in-depth reporting.
“What we’re seeing in the market place is that pension funds are looking for independent transparency,” Campo said.
Pension funds are starting to request information from independent parties such as prime brokerage, instead of going to the hedge funds for the data.
Growth Plans
SSB is widening its reach in addition to its services and has launched an international prime brokerage effort. The effort will be run out of its headquarters in London and is slated to pen within the year. Gary Link, who recently joined from J.P. Morgan Chase & Co., will serve as managing director and head of the office. He will oversee a staff of about 12 people, five of whom have already been hired.
SSB’s prime brokerage division is opening in London to capitalize on rising demand for hedge funds from European investors. “The piece we’re missing is the global prime brokerage component,” Tesauro said. “It’s just a matter of time.” Tesauro and Campo said they expect it will take time to develop the international prime brokerage division, noting that its major competitors have the short-term advantage of being a bit more established.
On the domestic front, SSB’s prime brokerage division is also expanding, and the division will soon name a managing director for a planned San Francisco office this month. At the same time, the group has hired John Bell for its San Francisco office, who hails from Donaldson, Lufkin & Jenrette. Bell joins as a director, responsible for marketing prime brokerage services to prospective clients, in addition to providing services to existing clients.
By Pamela Appea
Salomon Smith Barney, a member of Citigroup
Barry Weiss, managing director of equity finance
Sal Campo, managing director, equity finance division
Thomas Tesauro, managing director, co head of global equity finance
By Pamela Appea
Salomon Smith Barney’s prime brokerage division is launching an international prime brokerage effort. At the same time, it is looking to aggressively attract assets from institutional investors by introducing new services, for example, in the area of risk management, said Sal Campo, managing director of the equity finance division, under which falls prime brokerage.
Prime Brokerage Services/Structure
SSB’s prime brokerage division was started five years ago, and it now aims to become a full-service global firm, to take its place in line with older more-established prime brokerage units. SSB services medium to large-sized hedge funds, said Campo, noting the group’s largest hedge fund clients boasts about $4 billion to $5 billion in assets and its smallest hedge fund weighs in at $50 million.
SSB offers services including securities lending, operations, technology and customer service. It has gained additional support services through the Citigroup merger, including insurance, research and banking, which SSB hopes will strengthen relations with institutional investors, such as pension funds, said Campo. In addition, Citigroup has a capital introductions group, which is beneficial to SSB’s prime brokerage clients. A Citi staffer can introduce pension funds to the prime brokerage group’s clients, Campo explained.
Institutions seen gaining in Importance
As more institutional investors—pension funds, endowments and foundations—commit dollars to hedge funds and other alternative investments, SSB’s prime brokerage division is looking for ways to better accommodate institutional investors served by the division’s hedge fund clients, said Thomas Tesauro, managing director.
Pension funds, many of which have established relationships with Citi, are still somewhat skittish, however. To attract these investors to its hedge fund clients, SSB is currently planning on expanding or developing transparency and risk management services. The group is putting a formal risk management system in place, Campo said, noting pensions want in-depth reporting.
“What we’re seeing in the market place is that pension funds are looking for independent transparency,” Campo said.
Pension funds are starting to request information from independent parties such as prime brokerage, instead of going to the hedge funds for the data.
Growth Plans
SSB is widening its reach in addition to its services and has launched an international prime brokerage effort. The effort will be run out of its headquarters in London and is slated to pen within the year. Gary Link, who recently joined from J.P. Morgan Chase & Co., will serve as managing director and head of the office. He will oversee a staff of about 12 people, five of whom have already been hired.
SSB’s prime brokerage division is opening in London to capitalize on rising demand for hedge funds from European investors. “The piece we’re missing is the global prime brokerage component,” Tesauro said. “It’s just a matter of time.” Tesauro and Campo said they expect it will take time to develop the international prime brokerage division, noting that its major competitors have the short-term advantage of being a bit more established.
On the domestic front, SSB’s prime brokerage division is also expanding, and the division will soon name a managing director for a planned San Francisco office this month. At the same time, the group has hired John Bell for its San Francisco office, who hails from Donaldson, Lufkin & Jenrette. Bell joins as a director, responsible for marketing prime brokerage services to prospective clients, in addition to providing services to existing clients.
Gregoire Expands Analyst Team
Gregoire Expands Analyst Team
Alternative Investment News
By Pamela Appea
February 2001
John Levitt, a former hedge fund manager and convertible arbitrage specialist, has joined Gregoire Advisory Services, a hedge fund consulting firm, as an alternative investment analyst. Levitt was previously managing director of the Harvest Fund Group LLC, a convertible arbitrage hedge fund.
Prior to that, Levitt was v.p. in charge of convertible arbitrage for Spear, Leeds & Kellogg, now a division of Goldman Sachs. Based in Millburn, N.J., the firm provides hedge fund consulting services to banks and fund of funds managers as well as institutional investors.
Jim Gregoire, president of Gregoire Advisory, said essentially Gregoire allows institutional investors to create and manage their personalized fund of funds strategy.
The firm has almost $500 million of hedge fund portfolio under management or consultation.
Alternative Investment News
By Pamela Appea
February 2001
John Levitt, a former hedge fund manager and convertible arbitrage specialist, has joined Gregoire Advisory Services, a hedge fund consulting firm, as an alternative investment analyst. Levitt was previously managing director of the Harvest Fund Group LLC, a convertible arbitrage hedge fund.
Prior to that, Levitt was v.p. in charge of convertible arbitrage for Spear, Leeds & Kellogg, now a division of Goldman Sachs. Based in Millburn, N.J., the firm provides hedge fund consulting services to banks and fund of funds managers as well as institutional investors.
Jim Gregoire, president of Gregoire Advisory, said essentially Gregoire allows institutional investors to create and manage their personalized fund of funds strategy.
The firm has almost $500 million of hedge fund portfolio under management or consultation.
Emerging Markets Come Out on Top
Emerging Markets Come Out on Top
Alternative Investment News
Performance Roundup
By Pamela Appea
March 2001
Emerging markets came out on top in January, reversing last year’s slump, when they were one of the worst performers. Emerging market managers primarily benefited from the U.S. Federal Reserve board’s interest rate cute in early January, coupled with the issuance of Eurobonds by emerging countries. At the same time, the bound in the Nasdaq Stock Market helped to boost the sector’s performance, said managers and consultants.
The CSFB/Tremont Index reported emerging market manages returned 4.3% up from 2.3% in December. The Hennessee Hedge Fund Index showed emerging markets up 6.36% and Van Hedge Fund Advisors reported a 15.1% gain the month of January.
This is a considerable improvement from last year, when emerging markets ranked 20 out of 22 in Hennessee’s index.
The rate cut helped emerging markets by reducing interest rates, which stimulated bond markets in the domestic and Eurobond markets. Issuance of Eurobonds by Brazil, Mexico and Colombia and new capital flows into the sector, helped to boost performance.
James Edward, a head trader at Paris-based hedge fund Barep Asset Management, a subsidiary of Societe Generale Group, said, “There were definite new capital flows, and as our market is a very small market, it makes a significant difference.” He also noted the rebound in the Nasdaq, and the rebound of swap spreads also contributed to the emerging markets sector’s positive performance.
Alternative Investment News
Performance Roundup
By Pamela Appea
March 2001
Emerging markets came out on top in January, reversing last year’s slump, when they were one of the worst performers. Emerging market managers primarily benefited from the U.S. Federal Reserve board’s interest rate cute in early January, coupled with the issuance of Eurobonds by emerging countries. At the same time, the bound in the Nasdaq Stock Market helped to boost the sector’s performance, said managers and consultants.
The CSFB/Tremont Index reported emerging market manages returned 4.3% up from 2.3% in December. The Hennessee Hedge Fund Index showed emerging markets up 6.36% and Van Hedge Fund Advisors reported a 15.1% gain the month of January.
This is a considerable improvement from last year, when emerging markets ranked 20 out of 22 in Hennessee’s index.
The rate cut helped emerging markets by reducing interest rates, which stimulated bond markets in the domestic and Eurobond markets. Issuance of Eurobonds by Brazil, Mexico and Colombia and new capital flows into the sector, helped to boost performance.
James Edward, a head trader at Paris-based hedge fund Barep Asset Management, a subsidiary of Societe Generale Group, said, “There were definite new capital flows, and as our market is a very small market, it makes a significant difference.” He also noted the rebound in the Nasdaq, and the rebound of swap spreads also contributed to the emerging markets sector’s positive performance.
Emerging Markets Come Out on Top
Emerging Markets Come Out on Top
Alternative Investment News
Performance Roundup
By Pamela Appea
March 2001
Emerging markets came out on top in January, reversing last year’s slump, when they were one of the worst performers.
Emerging market managers primarily benefited from the U.S. Federal Reserve board’s interest rate cute in early January, coupled with the issuance of Eurobonds by emerging countries. At the same time, the bound in the Nasdaq Stock Market helped to boost the sector’s performance, said managers and consultants.
The CSFB/Tremont Index reported emerging market manages returned 4.3% up from 2.3% in December. The Hennessee Hedge Fund Index showed emerging markets up 6.36% and Van Hedge Fund Advisors reported a 15.1% gain the month of January.
This is a considerable improvement from last year, when emerging markets ranked 20 out of 22 in Hennessee’s index.
The rate cut helped emerging markets by reducing interest rates, which stimulated bond markets in the domestic and Eurobond markets.
Issuance of Eurobonds by Brazil, Mexico and Colombia and new capital flows into the sector, helped to boost performance.
James Edward, a head trader at Paris-based hedge fund Barep Asset Management, a subsidiary of Societe Generale Group, said, “There were definite new capital flows, and as our market is a very small market, it makes a significant difference.”
He also noted the rebound in the Nasdaq, and the rebound of swap spreads also contributed to the emerging markets sector’s positive performance.
Alternative Investment News
Performance Roundup
By Pamela Appea
March 2001
Emerging markets came out on top in January, reversing last year’s slump, when they were one of the worst performers.
Emerging market managers primarily benefited from the U.S. Federal Reserve board’s interest rate cute in early January, coupled with the issuance of Eurobonds by emerging countries. At the same time, the bound in the Nasdaq Stock Market helped to boost the sector’s performance, said managers and consultants.
The CSFB/Tremont Index reported emerging market manages returned 4.3% up from 2.3% in December. The Hennessee Hedge Fund Index showed emerging markets up 6.36% and Van Hedge Fund Advisors reported a 15.1% gain the month of January.
This is a considerable improvement from last year, when emerging markets ranked 20 out of 22 in Hennessee’s index.
The rate cut helped emerging markets by reducing interest rates, which stimulated bond markets in the domestic and Eurobond markets.
Issuance of Eurobonds by Brazil, Mexico and Colombia and new capital flows into the sector, helped to boost performance.
James Edward, a head trader at Paris-based hedge fund Barep Asset Management, a subsidiary of Societe Generale Group, said, “There were definite new capital flows, and as our market is a very small market, it makes a significant difference.”
He also noted the rebound in the Nasdaq, and the rebound of swap spreads also contributed to the emerging markets sector’s positive performance.
Do Mutual Fund Stars Make for Leading Hedge Fund Managers?
Do Mutual Fund Stars Make for Leading Hedge Fund Managers?
Alternative Investment News
March 2001
By Pamela Appea
Star mutual fund managers, and even their lesser-known colleagues, have been leaving the industry in droves to become hedge fund managers. That’s for certain.
But what remains unclear is. Whether the skills that led to top mutual fund performance translate to hedge funds.
The ability of mutual managers to pick winning stocks, while certainly key, may not be enough when it comes to generating strong hedge fund performance, said hedge fund consultants and hedge fund managers.
Differences in asset management styles and organizational support and structure, particularly between the large mutual fund complexes and small boutique hedge funds, can raise hurdles to mutual fund managers in the hedge fund arena, they noted.
The managers are moving from a position where their main focus is stock picking to one where they are running a money management business, where they too have to draw on their asset management strategies but also deal with other aspects of the business.
The main challenges for those crossing over to hedge funds including shorting securities, asset gathering, setting up company infrastructure and development and dealing with investors who may be more focused on shorter-term performance than mutual fund investors, pointed out hedge fund managers and industry consultants.
Former mutual fund managers may face obstacles when they switch over to hedge funds, but that is not to say they cannot be successful, newly minted hedge fund managers are quick to add. Managers can bring skills including knowledge of the market and also a strong understanding of portfolio management, to hedge funds.
Consultants point to Jeff Vinik, former manager of Fidelity’s Investment’s Magellan Fund, as an example of a success story.
Vinik, who recently returned money to investors and handed over the reigns over the reigns as head of his hedge fund, opened Vinik Asset Management with $800 million in 1996. Vinik succeeded in growing assets to $4.2 billion--positing a return of 645.8% since inception.
Shorts Seen as Challenge
One of the major differences in investment styles between mutual funds and hedge funs is the ability to short stocks. Mutual funds can take short positions, but most do not in any significant way. Playing the downside of the market is different, while related, to playing the upside. For one, the time window in which a stock needs to depreciate for a short position to be profitable can be smaller than the one needed for a long position to appreciate.
“The hardest thing to do in all of finance is to short stocks,” said Hunt Taylor, director of investments of Stern Investment Holdings, the investment arm of the Hartz Group, based in Secaucus, N.J. Additionally, there is no cap on how much a security can rise. But a security can only fall 100%, Taylor added, and that can be a significant adjustment for cross-over managers.
Former Loomis Sayles mutual fund manager Jerry Castellini, founder of Chicago-based CastleArk Management, agrees. He said switching from long-only to the lon/short model was difficult. But at the same time, Castellini said, hedge fund managers can often focus on honing a narrow strategy more than mutual fund managers can. This gives the hedge fund managers the ability to spend more time evaluating securities so they can play the downside.
Both of CastleArk’s hedge funds have had above-average returns: Its diversified hedge fund had a 65% annual return-after expenses in 2000, and its energy hedge fund was up 66% after expenses last year.
Building Infrastructure Presents Hurdle
Sometimes the highest hurdle to surmount is not adjusting to differences in asset strategy but dealing with what can often be a far less support, especially in areas such as capital raising. It can be a disconcerting adjustment for a mutual fund managers coming from a big-name complex to a small hedge fund shop, said Richard Lake, a consultant for Greenwich, Connecticut-based Lake Partners.
Making up for the lack of resources can be an enormous challenge, he explained. The amount of seed capital with which a hedge fund launches can be a strong factor in which makes or breaks a new shop, said CastleArk’s Castellini. Managers who spend large tracks of time raising money may do so at the expense of focusing on the fund strategy, Castellini noted, adding CastleArk raised $700 million in its first year, comprised of both hedge fund and mutual fund assets.
Star mutual fund managers may be more likely to attract former clients and new money based on name recognition while others with smaller profiles might have a more difficult time, he said.
Building firm infrastructure, which includes such things as hiring skilled people or getting used to new accounting system, also presents challenges to new hedge fund market entrants.
Michael Lipper, a pioneer in the mutual fund arena, and president of Lipper Advisory Services based in Summit, New Jersey, said without infrastructure, a cross-over mutual fund manager can have a difficult time, especially if they hail from a prestigious mutual fund company.
Lipper, co-founder of a new hedge fund that currently has $17 million in assets under management, is working on growing the fund.
Hedge fund investors themselves also present challenges that mutual fund investors do not in that the hedge fund investors are often more focused on shorter-term performance.
As former Monument Internet Fund manager Alex Cheung noted, mutual fund investors often judge performance by short-term profits and returns.
Mutual fund investors might look at performance once every three months while institutions want more updates, added Chung, now managing director of King of Prussia-based hedge fund shop Long Bow Capital Management, a technology long/short fund shop.
Cheung declined to divulge how much Long Bow has in assets under management or performance information. He did say the new firm hopes to show profit in six to 12 months.
The jury is still out on how these cross-over managers will do. Over the next year, market players will be watching to see who wins and who loses.
Alternative Investment News
March 2001
By Pamela Appea
Star mutual fund managers, and even their lesser-known colleagues, have been leaving the industry in droves to become hedge fund managers. That’s for certain.
But what remains unclear is. Whether the skills that led to top mutual fund performance translate to hedge funds.
The ability of mutual managers to pick winning stocks, while certainly key, may not be enough when it comes to generating strong hedge fund performance, said hedge fund consultants and hedge fund managers.
Differences in asset management styles and organizational support and structure, particularly between the large mutual fund complexes and small boutique hedge funds, can raise hurdles to mutual fund managers in the hedge fund arena, they noted.
The managers are moving from a position where their main focus is stock picking to one where they are running a money management business, where they too have to draw on their asset management strategies but also deal with other aspects of the business.
The main challenges for those crossing over to hedge funds including shorting securities, asset gathering, setting up company infrastructure and development and dealing with investors who may be more focused on shorter-term performance than mutual fund investors, pointed out hedge fund managers and industry consultants.
Former mutual fund managers may face obstacles when they switch over to hedge funds, but that is not to say they cannot be successful, newly minted hedge fund managers are quick to add. Managers can bring skills including knowledge of the market and also a strong understanding of portfolio management, to hedge funds.
Consultants point to Jeff Vinik, former manager of Fidelity’s Investment’s Magellan Fund, as an example of a success story.
Vinik, who recently returned money to investors and handed over the reigns over the reigns as head of his hedge fund, opened Vinik Asset Management with $800 million in 1996. Vinik succeeded in growing assets to $4.2 billion--positing a return of 645.8% since inception.
Shorts Seen as Challenge
One of the major differences in investment styles between mutual funds and hedge funs is the ability to short stocks. Mutual funds can take short positions, but most do not in any significant way. Playing the downside of the market is different, while related, to playing the upside. For one, the time window in which a stock needs to depreciate for a short position to be profitable can be smaller than the one needed for a long position to appreciate.
“The hardest thing to do in all of finance is to short stocks,” said Hunt Taylor, director of investments of Stern Investment Holdings, the investment arm of the Hartz Group, based in Secaucus, N.J. Additionally, there is no cap on how much a security can rise. But a security can only fall 100%, Taylor added, and that can be a significant adjustment for cross-over managers.
Former Loomis Sayles mutual fund manager Jerry Castellini, founder of Chicago-based CastleArk Management, agrees. He said switching from long-only to the lon/short model was difficult. But at the same time, Castellini said, hedge fund managers can often focus on honing a narrow strategy more than mutual fund managers can. This gives the hedge fund managers the ability to spend more time evaluating securities so they can play the downside.
Both of CastleArk’s hedge funds have had above-average returns: Its diversified hedge fund had a 65% annual return-after expenses in 2000, and its energy hedge fund was up 66% after expenses last year.
Building Infrastructure Presents Hurdle
Sometimes the highest hurdle to surmount is not adjusting to differences in asset strategy but dealing with what can often be a far less support, especially in areas such as capital raising. It can be a disconcerting adjustment for a mutual fund managers coming from a big-name complex to a small hedge fund shop, said Richard Lake, a consultant for Greenwich, Connecticut-based Lake Partners.
Making up for the lack of resources can be an enormous challenge, he explained. The amount of seed capital with which a hedge fund launches can be a strong factor in which makes or breaks a new shop, said CastleArk’s Castellini. Managers who spend large tracks of time raising money may do so at the expense of focusing on the fund strategy, Castellini noted, adding CastleArk raised $700 million in its first year, comprised of both hedge fund and mutual fund assets.
Star mutual fund managers may be more likely to attract former clients and new money based on name recognition while others with smaller profiles might have a more difficult time, he said.
Building firm infrastructure, which includes such things as hiring skilled people or getting used to new accounting system, also presents challenges to new hedge fund market entrants.
Michael Lipper, a pioneer in the mutual fund arena, and president of Lipper Advisory Services based in Summit, New Jersey, said without infrastructure, a cross-over mutual fund manager can have a difficult time, especially if they hail from a prestigious mutual fund company.
Lipper, co-founder of a new hedge fund that currently has $17 million in assets under management, is working on growing the fund.
Hedge fund investors themselves also present challenges that mutual fund investors do not in that the hedge fund investors are often more focused on shorter-term performance.
As former Monument Internet Fund manager Alex Cheung noted, mutual fund investors often judge performance by short-term profits and returns.
Mutual fund investors might look at performance once every three months while institutions want more updates, added Chung, now managing director of King of Prussia-based hedge fund shop Long Bow Capital Management, a technology long/short fund shop.
Cheung declined to divulge how much Long Bow has in assets under management or performance information. He did say the new firm hopes to show profit in six to 12 months.
The jury is still out on how these cross-over managers will do. Over the next year, market players will be watching to see who wins and who loses.
Asset Alliance Set to Grow London, New York Office
Asset Alliance Set to Grow London, New York Office
Alternative Investment News
March 2001
By Pamela Appea
Asset Alliance, a hedge fund firm with $2.4 billion in assets under management, is hiring three people for its New York headquarters, and three people for its London office.
Bruce Lipnick, president and ceo of Asset, said all of the six slots are newly-created positions. The company wants to hire new people now, Lipnick said, because of the high demand from institutional investor clients, in both the U.S. and abroad.
Lipnick noted Asset is growing its London office to service potential institutional investors in England, France and Italy, among other countries.
Lipnick also noted the London office is prepared to see Italian institutional investors in the next six to nine months, due to recent alternatives legislation in the country.
Asset Alliance’s New York openings include a marketing and structured products executive, a risk management executive and a consultant for hedge funds catering to both institutional and high-net-worth clients.
In London, Lipnick said Asset Alliance is looking for a quantitative analyst for its funds-for-funds operations, along with two support staff members.
Lipnick said the company does not have specific timetable for the staff expansion, but said if the firm funds the right people, the hiring could completed by the end of the year.
Alternative Investment News
March 2001
By Pamela Appea
Asset Alliance, a hedge fund firm with $2.4 billion in assets under management, is hiring three people for its New York headquarters, and three people for its London office.
Bruce Lipnick, president and ceo of Asset, said all of the six slots are newly-created positions. The company wants to hire new people now, Lipnick said, because of the high demand from institutional investor clients, in both the U.S. and abroad.
Lipnick noted Asset is growing its London office to service potential institutional investors in England, France and Italy, among other countries.
Lipnick also noted the London office is prepared to see Italian institutional investors in the next six to nine months, due to recent alternatives legislation in the country.
Asset Alliance’s New York openings include a marketing and structured products executive, a risk management executive and a consultant for hedge funds catering to both institutional and high-net-worth clients.
In London, Lipnick said Asset Alliance is looking for a quantitative analyst for its funds-for-funds operations, along with two support staff members.
Lipnick said the company does not have specific timetable for the staff expansion, but said if the firm funds the right people, the hiring could completed by the end of the year.
Thursday, February 01, 2001
Laurus to Open Hedge Fund
Laurus to Open Hedge Fund
Alternative Investment News
By Pamela Appea
February 2001
Laurus Capital Management, LLC is launching a hedge fund that will focus on convertible debentures, will have onshore and offshore versions and be targeted toward institutions and high-net-worth individuals.
The fund, Laurus Family of Funds, is starting with seed capital of $5 million and has a target of $100 million, which Laurus seeks to raise over the next six to nine months.
This is the first time that Laurus Capital Management is actively seeking outside and institutional investors, said Eugene Grin, manager of the Laurus Family of Funds. Laurus. Which has four other funds, has basically run investments for friends and family, Grin noted. Laurus Family of Funds will largely rely on word-of-mouth to attract investors, he added.
Alternative Investment News
By Pamela Appea
February 2001
Laurus Capital Management, LLC is launching a hedge fund that will focus on convertible debentures, will have onshore and offshore versions and be targeted toward institutions and high-net-worth individuals.
The fund, Laurus Family of Funds, is starting with seed capital of $5 million and has a target of $100 million, which Laurus seeks to raise over the next six to nine months.
This is the first time that Laurus Capital Management is actively seeking outside and institutional investors, said Eugene Grin, manager of the Laurus Family of Funds. Laurus. Which has four other funds, has basically run investments for friends and family, Grin noted. Laurus Family of Funds will largely rely on word-of-mouth to attract investors, he added.
IPA Launches Offshore Bahamas Fund
IPA Launches Offshore Bahamas Fund
Alternative Investment News
By Pamela Appea
February 2001
International Portfolio Analytics expects to launch in March a duration-neutral mortgage arbitrage fund, Liquid Opportunities-Plus I. The offshore fund will follow the recent closure of Liquid Opportunity Plus, Ltd., which recently raised $325 million, over twice its original target, said Jon Knight, president.
Liquid Opportunities-Plus I. has seed capital of $5 million and a target of $100 million-$150 million. It will be marketed to both high-net worth individuals and institutions, and Bahamas-based IPA is seeking additional distribution channels, such as funds of funds and private banks, in the U.S. and Europe, Asia and the Middle East.
Marketing efforts for the new fund will include one-on-one meetings with investors, Knight said, adding he plans on visiting Europe within the next few days. Minimum investment for Liquid Opportunities-Plus I, $100,000 and it has targeted net returns of 7.5%-10.5%.
Using PlusFunds.com is an independent hedge fund service platform, Liquid Opportunities fund investors will be able to receive daily transparency reports online. Knight noted large pension funds, in particular, may find Plus Funds’ “benign transparency” attractive, he added
Alternative Investment News
By Pamela Appea
February 2001
International Portfolio Analytics expects to launch in March a duration-neutral mortgage arbitrage fund, Liquid Opportunities-Plus I. The offshore fund will follow the recent closure of Liquid Opportunity Plus, Ltd., which recently raised $325 million, over twice its original target, said Jon Knight, president.
Liquid Opportunities-Plus I. has seed capital of $5 million and a target of $100 million-$150 million. It will be marketed to both high-net worth individuals and institutions, and Bahamas-based IPA is seeking additional distribution channels, such as funds of funds and private banks, in the U.S. and Europe, Asia and the Middle East.
Marketing efforts for the new fund will include one-on-one meetings with investors, Knight said, adding he plans on visiting Europe within the next few days. Minimum investment for Liquid Opportunities-Plus I, $100,000 and it has targeted net returns of 7.5%-10.5%.
Using PlusFunds.com is an independent hedge fund service platform, Liquid Opportunities fund investors will be able to receive daily transparency reports online. Knight noted large pension funds, in particular, may find Plus Funds’ “benign transparency” attractive, he added
Chapman Opens New Euro Hedge Fund
Chapman Opens New Euro Hedge Fund
Alternative Investment News
By Pamela Appea
February 2001
PH Chapman Advisors has launched an offshore European long-short hedge fund. European Perspectives Ltd. The investment advisor also plans to offer investment opportunities in Asia and in private equity later this year, said Peter Chapman, founder.
European Perspectives Ltd. charges a 1.5% management fee and 20% performance fee and is registered in Bermuda and also listed in Dublin. It has a USD250,000 and EU250,000 minimum. Raphael Kanza will manage the fund. European Limited seeks to raise $300 million and has targeted returns of 20-25%.
The fund started with $10 million in seed capital.
Chapman, based in New York, counts about 30 wealthy families as clients, with most living outside the U.S., but is also open to institutional investors, such as foundations and endowments.
Alternative Investment News
By Pamela Appea
February 2001
PH Chapman Advisors has launched an offshore European long-short hedge fund. European Perspectives Ltd. The investment advisor also plans to offer investment opportunities in Asia and in private equity later this year, said Peter Chapman, founder.
European Perspectives Ltd. charges a 1.5% management fee and 20% performance fee and is registered in Bermuda and also listed in Dublin. It has a USD250,000 and EU250,000 minimum. Raphael Kanza will manage the fund. European Limited seeks to raise $300 million and has targeted returns of 20-25%.
The fund started with $10 million in seed capital.
Chapman, based in New York, counts about 30 wealthy families as clients, with most living outside the U.S., but is also open to institutional investors, such as foundations and endowments.
Resurgence Hires Bankruptcy Expert
Resurgence Hires Bankruptcy Expert
The Alternative Investment
March 2001
By Pamela Appea
Resurgence Asset Management has brought on board Marc Kirschner, a former bankruptcy and restructuring attorney. He joins as a managing director and general counsel and will work on its deal team analyzing new investments, bankruptcy and restructuring issues.
The investment firm specializes in distressed company securities and caters mostly to institutional investors, including pension plans and endowments. Resurgence, which manages a $1.2 billion in assets, is part of M.D. Sass, a White Plains, New York-based investment management company.
In explaining the move, Kirschner said he has worked in law for 33 years and wanted to pursue a second career. Kirschner was most recently a bankruptcy and restructuring attorney at Jones, Day, Reavis & Poague and was based in the law firm’s New York office.
In his new position, Kirschner will report directly to James Rubin, cio at Resurgence.
The Alternative Investment
March 2001
By Pamela Appea
Resurgence Asset Management has brought on board Marc Kirschner, a former bankruptcy and restructuring attorney. He joins as a managing director and general counsel and will work on its deal team analyzing new investments, bankruptcy and restructuring issues.
The investment firm specializes in distressed company securities and caters mostly to institutional investors, including pension plans and endowments. Resurgence, which manages a $1.2 billion in assets, is part of M.D. Sass, a White Plains, New York-based investment management company.
In explaining the move, Kirschner said he has worked in law for 33 years and wanted to pursue a second career. Kirschner was most recently a bankruptcy and restructuring attorney at Jones, Day, Reavis & Poague and was based in the law firm’s New York office.
In his new position, Kirschner will report directly to James Rubin, cio at Resurgence.
Performance is Driver Behind Alt Allocations
Performance is Driver Behind Alt Allocations
Alternative Investment News
By Pamela Appea
February 2001
The numbers are in--hedge funds are out front, driving institutions to allocate into the arena. With alternative investments beating the traditional stock and bond markets, institutional investors are expected to continue their move into hedge funds in 2001.
Buoyed by the sector’s strong performance, in general, many investment officers at pension plans, foundations and endowments are looking at entering or increasing their investments in these alternatives, consultants said. Hedge fund managers also report an uptick in interest from institutional investors.
“Last year, told the story and that convinced people who were sitting on the fence,” said Terry Jones, managing director at New York-based Arden Asset Management, a market-neutral fund of funds. “They really had to see it to believe it.”
Indeed, 2000 was a banner year for hedge funds which, according to the Hennessee Hedge Fund Review, returned 6.25% for the year, outperforming the Nasdaq Stock Market (-39.72%), the Standard & Poor’s 500 Index (-9.73%) and the Lipper Mutual Fund index (9.54%.)
“Last year was the first year, in perhaps five, that hedge funds really provided their mettle,” added Ross Ellis, a consultant at Oaks, Pennsylvania-based SEI Investments.
Charles Gradante, a principal at the Hennessee Group, said it is clear that more institutions are choosing to investment with hedge funds. Preliminary figures from the Hennessee Group’s soon-to-be completed annual survey show a large jump in institutional investors.
“The initial results … indicate … 20001 will entail the largest increase in institutional allocations to hedge funds--ever,” Gradante said.
Market Neutral, Arb Strats Seen as Top Picks
Marker neutral hedge funds, which returned 7.05% last year, according to the Hennessee Hedge Fund review, will continue to be in top demand, predicted consultants and hedge fund managers.
These funds have relatively low volatility, and though their returns may fall far short of stellar, they are uncorrelated to the traditional bond and stock markets. Because of this sector’s characteristics, Joseph Aaron, president of hedge fund consultancy Wood, Hat & Silver, said he felt it would continue to be a good fit for institutional investors.
Merger and convertible arbitrage strategies, which according to Hennessee, returned 17% and 8.61%, respectively, in 2000, will also be strong draws for institutional monies, predicted Jones. Whereas most hedge funds often tinker with their styles, the arbitrage strategies tend to stay more true to form, he noted.
Institutional investors are far less tolerant to style drift than affluent investors.
For those looking for higher returns and willing to take on more risk, healthcare/biotech and distressed debt strategies are worth watching, consultants recommended.
The healthcare/biotech and distressed debt strategies are worth watching, consultants recommended.
The healthcare/biotech sector, which was the top-performing last year at 62.37%, could present a high-risk, high-reward opportunity through the first half of the year, predicted Richard Bookbinder, a general partner and portfolio manager for Roebling Fund LP,
Alternative Investment News
By Pamela Appea
February 2001
The numbers are in--hedge funds are out front, driving institutions to allocate into the arena. With alternative investments beating the traditional stock and bond markets, institutional investors are expected to continue their move into hedge funds in 2001.
Buoyed by the sector’s strong performance, in general, many investment officers at pension plans, foundations and endowments are looking at entering or increasing their investments in these alternatives, consultants said. Hedge fund managers also report an uptick in interest from institutional investors.
“Last year, told the story and that convinced people who were sitting on the fence,” said Terry Jones, managing director at New York-based Arden Asset Management, a market-neutral fund of funds. “They really had to see it to believe it.”
Indeed, 2000 was a banner year for hedge funds which, according to the Hennessee Hedge Fund Review, returned 6.25% for the year, outperforming the Nasdaq Stock Market (-39.72%), the Standard & Poor’s 500 Index (-9.73%) and the Lipper Mutual Fund index (9.54%.)
“Last year was the first year, in perhaps five, that hedge funds really provided their mettle,” added Ross Ellis, a consultant at Oaks, Pennsylvania-based SEI Investments.
Charles Gradante, a principal at the Hennessee Group, said it is clear that more institutions are choosing to investment with hedge funds. Preliminary figures from the Hennessee Group’s soon-to-be completed annual survey show a large jump in institutional investors.
“The initial results … indicate … 20001 will entail the largest increase in institutional allocations to hedge funds--ever,” Gradante said.
Market Neutral, Arb Strats Seen as Top Picks
Marker neutral hedge funds, which returned 7.05% last year, according to the Hennessee Hedge Fund review, will continue to be in top demand, predicted consultants and hedge fund managers.
These funds have relatively low volatility, and though their returns may fall far short of stellar, they are uncorrelated to the traditional bond and stock markets. Because of this sector’s characteristics, Joseph Aaron, president of hedge fund consultancy Wood, Hat & Silver, said he felt it would continue to be a good fit for institutional investors.
Merger and convertible arbitrage strategies, which according to Hennessee, returned 17% and 8.61%, respectively, in 2000, will also be strong draws for institutional monies, predicted Jones. Whereas most hedge funds often tinker with their styles, the arbitrage strategies tend to stay more true to form, he noted.
Institutional investors are far less tolerant to style drift than affluent investors.
For those looking for higher returns and willing to take on more risk, healthcare/biotech and distressed debt strategies are worth watching, consultants recommended.
The healthcare/biotech and distressed debt strategies are worth watching, consultants recommended.
The healthcare/biotech sector, which was the top-performing last year at 62.37%, could present a high-risk, high-reward opportunity through the first half of the year, predicted Richard Bookbinder, a general partner and portfolio manager for Roebling Fund LP,
Laurus to Open Hedge Fund
Laurus to Open Hedge Fund
Alternative Investment News
By Pamela Appea
February 2001
Laurus Capital Management, LLC is launching a hedge fund that will focus on convertible debentures, will have onshore and offshore versions and be targeted toward institutions and high-net-worth individuals.
The fund, Laurus Family of Funds, is starting with seed capital of $5 million and has a target of $100 million, which Laurus seeks to raise over the next six to nine months.
This is the first time that Laurus Capital Management is actively seeking outside and institutional investors, said Eugene Grin, manager of the Laurus Family of Funds. Laurus, which has four other funds, has basically run investments for friends and family, Grin noted.
Laurus Family of Funds will largely rely on word-of-mouth to attract investors, he added.
Alternative Investment News
By Pamela Appea
February 2001
Laurus Capital Management, LLC is launching a hedge fund that will focus on convertible debentures, will have onshore and offshore versions and be targeted toward institutions and high-net-worth individuals.
The fund, Laurus Family of Funds, is starting with seed capital of $5 million and has a target of $100 million, which Laurus seeks to raise over the next six to nine months.
This is the first time that Laurus Capital Management is actively seeking outside and institutional investors, said Eugene Grin, manager of the Laurus Family of Funds. Laurus, which has four other funds, has basically run investments for friends and family, Grin noted.
Laurus Family of Funds will largely rely on word-of-mouth to attract investors, he added.
IPA Launches Offshore Bahamas Fund
IPA Launches Offshore Bahamas Fund
Alternative Investment News
By Pamela Appea
February 2001
International Portfolio Analytics expects to launch in March a duration-neutral mortgage arbitrage fund, Liquid Opportunities-Plus I. The offshore fund will follow the recent closure of Liquid Opportunity Plus, Ltd., which recently raised $325 million, over twice its original target, said Jon Knight, president.
Liquid Opportunities-Plus I. has seed capital of $5 million and a target of $100 million-$150 million. It will be marketed to both high-net worth individuals and institutions, and Bahamas-based IPA is seeking additional distribution channels, such as funds of funds and private banks, in the U.S. and Europe, Asia and the Middle East.
Marketing efforts for the new fund will include one-on-one meetings with investors, Knight said, adding he plans on visiting Europe within the next few days. Minimum investment for Liquid Opportunities-Plus I, $100,000 and it has targeted net returns of 7.5%-10.5%.
Using PlusFunds.com is an independent hedge fund service platform, Liquid Opportunities fund investors will be able to receive daily transparency reports online. Knight noted large pension funds, in particular, may find Plus Funds’ “benign transparency” attractive, he added
Alternative Investment News
By Pamela Appea
February 2001
International Portfolio Analytics expects to launch in March a duration-neutral mortgage arbitrage fund, Liquid Opportunities-Plus I. The offshore fund will follow the recent closure of Liquid Opportunity Plus, Ltd., which recently raised $325 million, over twice its original target, said Jon Knight, president.
Liquid Opportunities-Plus I. has seed capital of $5 million and a target of $100 million-$150 million. It will be marketed to both high-net worth individuals and institutions, and Bahamas-based IPA is seeking additional distribution channels, such as funds of funds and private banks, in the U.S. and Europe, Asia and the Middle East.
Marketing efforts for the new fund will include one-on-one meetings with investors, Knight said, adding he plans on visiting Europe within the next few days. Minimum investment for Liquid Opportunities-Plus I, $100,000 and it has targeted net returns of 7.5%-10.5%.
Using PlusFunds.com is an independent hedge fund service platform, Liquid Opportunities fund investors will be able to receive daily transparency reports online. Knight noted large pension funds, in particular, may find Plus Funds’ “benign transparency” attractive, he added
Gregoire Expands Analyst Team
Gregoire Expands Analyst Team
Alternative Investment News
By Pamela Appea
February 2001
John Levitt, a former hedge fund manager and convertible arbitrage specialist, has joined Gregoire Advisory Services, a hedge fund consulting firm, as an alternative investment analyst. Levitt was previously managing director of the Harvest Fund Group LLC, a convertible arbitrage hedge fund.
Prior to that, Levitt was v.p. in charge of convertible arbitrage for Spear, Leeds & Kellogg, now a division of Goldman Sachs. Based in Millburn, N.J., the firm provides hedge fund consulting services to banks and fund of funds managers as well as institutional investors.
Jim Gregoire, president of Gregoire Advisory, said essentially Gregoire allows institutional investors to create and manage their personalized fund of funds strategy.
The firm has almost $500 million of hedge fund portfolio under management or consultation.
Alternative Investment News
By Pamela Appea
February 2001
John Levitt, a former hedge fund manager and convertible arbitrage specialist, has joined Gregoire Advisory Services, a hedge fund consulting firm, as an alternative investment analyst. Levitt was previously managing director of the Harvest Fund Group LLC, a convertible arbitrage hedge fund.
Prior to that, Levitt was v.p. in charge of convertible arbitrage for Spear, Leeds & Kellogg, now a division of Goldman Sachs. Based in Millburn, N.J., the firm provides hedge fund consulting services to banks and fund of funds managers as well as institutional investors.
Jim Gregoire, president of Gregoire Advisory, said essentially Gregoire allows institutional investors to create and manage their personalized fund of funds strategy.
The firm has almost $500 million of hedge fund portfolio under management or consultation.
CooperNeff Launches Two Funds
CooperNeff Launches Two Funds
Alternative Investment News
By Pamela Appea
February 2001
Cooper Neff, a quantitative trading and investment management firm with a new hedge fun unit, plans to launch two European offshore funds, one an equity market neutral fund and the other an equity long/short fund, later this year.
Both funds, which CooperNeff declined to name, will be based in the Cayman Islands and will be targeted mainly at European institutional and high-net-worth investors individuals, said Daniel O’Shaugnessy, managing director of Risk Managed Fund.
The offshore funds will be similar to two CooperNeff offshore funds. Their minimum for investment will be $5 million.
The equity market neutral fund will carry a management fee of 1% and a performance fee of 20%, while the long/short fund will carry a 2% management fee and a 20% performance fee. O’Shaugnessy expects each fund will have the net return, of greater than 40%.
Alternative Investment News
By Pamela Appea
February 2001
Cooper Neff, a quantitative trading and investment management firm with a new hedge fun unit, plans to launch two European offshore funds, one an equity market neutral fund and the other an equity long/short fund, later this year.
Both funds, which CooperNeff declined to name, will be based in the Cayman Islands and will be targeted mainly at European institutional and high-net-worth investors individuals, said Daniel O’Shaugnessy, managing director of Risk Managed Fund.
The offshore funds will be similar to two CooperNeff offshore funds. Their minimum for investment will be $5 million.
The equity market neutral fund will carry a management fee of 1% and a performance fee of 20%, while the long/short fund will carry a 2% management fee and a 20% performance fee. O’Shaugnessy expects each fund will have the net return, of greater than 40%.
Chapman Opens New Euro Hedge Fund
Chapman Opens New Euro Hedge Fund
Alternative Investment News
By Pamela Appea
February 2001
PH Chapman Advisors has launched an offshore European long-short hedge fund. European Perspectives Ltd. The investment advisor also plans to offer investment opportunities in Asia and in private equity later this year, said Peter Chapman, founder.
European Perspectives Ltd. charges a 1.5% management fee and 20% performance fee and is registered in Bermuda and also listed in Dublin. It has a USD250,000 and EU250,000 minimum. Raphael Kanza will manage the fund. European Limited seeks to raise $300 million and has targeted returns of 20-25%.
The fund started with $10 million in seed capital.
Chapman, based in New York, counts about 30 wealthy families as clients, with most living outside the U.S., but is also open to institutional investors, such as foundations and endowments.
Alternative Investment News
By Pamela Appea
February 2001
PH Chapman Advisors has launched an offshore European long-short hedge fund. European Perspectives Ltd. The investment advisor also plans to offer investment opportunities in Asia and in private equity later this year, said Peter Chapman, founder.
European Perspectives Ltd. charges a 1.5% management fee and 20% performance fee and is registered in Bermuda and also listed in Dublin. It has a USD250,000 and EU250,000 minimum. Raphael Kanza will manage the fund. European Limited seeks to raise $300 million and has targeted returns of 20-25%.
The fund started with $10 million in seed capital.
Chapman, based in New York, counts about 30 wealthy families as clients, with most living outside the U.S., but is also open to institutional investors, such as foundations and endowments.
Wednesday, January 31, 2001
Nursing vs. bottles: Why are African American breastfeeding rates so low?
Nursing vs. bottles: Why are African American breastfeeding rates so low?
Africana.com
By Pamela Appea
Adina Gittens-Smith, a 30-year-old mother of two young boys, knew she wanted to breastfeed even before her children were born. “I read so many things and everything said breastfeeding was good,” said the Maryland school administrator.
Being a health-conscious vegetarian also played a part for Gittens-Smith. “I wanted to make the best nutritious selection for my child,” she says. And joining a local African-American breastfeeding group also helped Gittens-Smith get the information and support she needed.
But as a group, African-American mothers aren’t breastfeeding their babies as much, or for as long, as other mothers, according to a new report out from the federal Department of Health and Human Services. And experts like Dr. Yvonne Bronner of Morgan State University go as far to say the “culture of breastfeeding has been lost, especially in the low-income African-American community.”
Using data from a 1998 survey, “The Health and Human Services Blueprint for Action on Breastfeeding” report found only 45% of African-American mothers breastfeed their babies even for a brief period. Almost every other racial group surveyed reported higher breastfeeding rates.
The survey found 66% of Latina mothers and 68% of white mothers breastfeed their babies for at least a few weeks. About 54% of low-income Asian and Pacific Islander mothers breastfeed, along with 59% of Native American and Alaska native mothers, for a similar period.
“The time has come for us to work together to promote optimal breastfeeding practices,” says U.S. Surgeon General Dr. David Satcher, who oversaw the HHS report. Satcher found breastfeeding rates to be “alarmingly” low for African-American mothers.
While breastfeeding rates have increased over the last decade, the report also found only 29 percent of all mothers, and a mere 19 percent of black mothers, reported breastfeeding their babies six months after their birth.
The American Academy of Pediatrics recommends their mothers breastfeed their children for at least 12 months, with breastmilk as the only food for the first six months of life. In a policy statement released in 1997, the AAP described breastmilk as “uniquely superior for infant feeding,” and cited its effectiveness in decreasing the incidence and severity of diarrhea, respiratory infections, ear infections, allergies and other illnesses. In addition, the AAP argues that nursing is beneficial to mothers, helping ease postpartum bleeding, delay[s] resumption of ovulation and reduce[s] the risk of ovarian and premenopausal breast cancers. Not only that: the report estimates a savings of at least $400 annually for mothers who choose to nurse rather than formula feed their infants.
But some black mothers say they don’t have the luxury to breastfeed for six months. Marie Charles, a Brooklyn mother of one, said black women who work generally don’t have the time to breastfeed like wealthier white women.
Charles, who is nine months pregnant with her second child, breastfed her son for six weeks and plans to do the same for her second baby. But Charles adds her husband thinks she should go back to work as soon as possible. “It’s just easier for working women to use infant formula,” she says.
The pressure to return to work, especially in jobs that do not offer progressive maternity leave policies, is one reason for low breastfeeding rates. Another is the ubiquitousness of commercial baby formula (which is often given to new mothers when they leave the hospital after giving birth, and is included in the WIC nutrition program.) In addition, women are less likely to breastfeed without support from their partners and other significant people in their lives. Having a mother, grandmother, aunt and close friend who has breastfeed, or who supports breastfeeding, can improve the likelihood that a new mother will choose to nurse her baby.
Dr. Michal Young, M.D., director of the neonatal intensive care unit at D.C. General Hospital, says the rate of black women patients in the District who breastfeed was dismally low when she started her career in 1985. Today, breastfeeding rates there hover around 35%, up 30 percentage points from the 5% breastfeeding rates in the mid-eighties.
Black women who choose to nurse their children report satisfaction, but some frustrations.
“I breastfeed because it’s physically, mentally and emotionally healthier for baby than bottles,” said Martha Ajiwe, a 37-year-old Maryland mother of three who breastfed her first two children till they were nine months, and her third child until she was a year old.
“Physically, breastfed babies get sick less often and breast milk transfers immunity [temporarily] from mom to baby. Mentally, breastfed babies develop better intellectually. Emotionally, babies and moms bond during feeding.”
“Breastfeeding is not sexy,” Ajiwe jokes. I think mothers who are more mature choose to breastfeed because they have developed more understanding of [the] needs of [the] baby and are more willing to do whatever it takes to put [the] baby’s needs first.”
Denise White, a 29-year-old Virginia mother, says she made it a priority to breastfeed her three children even through work, school and other commitments took her time.
“I found it quite difficult to breastfeed and work at the same time,” says White, who works as an office manager for an adolescent substance abuse prevention organization, and is a part-time student.
“Black women, I think, are more afraid of the idea of breastfeeding than white women,” says White. “I think [it’s because of] the idea they would have to be there with the child a large majority of the time, because they are ‘the bottle,’ is what keeps them from doing it.
Nursing mothers who work in an office environment can express breastmilk to be given to their babies in a bottle by other caregivers, but many women work in environments that do not accommodate this.
The breastfeeding advocacy group La Leche’s classic book, The Womanly Art of Breastfeeding encourages women not only to nurse their babies, but to draw power and self-respect for being able to sustain their children, something White and others say can be a particularly hard concept for younger African-American mothers to grasp.
“I think younger moms and moms who were not breastfed themselves are less likely to breastfeed because they have difficulty perceiving their bodies as source of sustenance,” Ajiwe says.
Eugenia Hull, a Lanham, Maryland-area natural childbirth instructor, says she appreciates what groups like La Leche League have done. But, recognizing the need to give black mothers a culturally-sensitive space, she founded Adero, a black breastfeeding support group in the early ‘90s.
Other African-American women say La Leche League seems to cater mostly to upper-middle class white women, many of whom do not have to work. But Dr. Michal Young adds that while La Leche League groups in the United States may be homogenous, there is a significant racial shift at international conferences.
It’s ironic so few African-Americans breastfeed today, Young says. Infant formula made its debut in the United States in 1940, but black women largely due to poverty, were the last group to adopt its use in larger numbers.
Breastfeeding rates for African-American women look especially low when compared with patterns among black mothers outside the United States. In Africa, breastfeeding rates are extremely high, ranging from 75% to 100% across the continent. And many of these mothers nurse their children for at least a year, the period recommended by the AAP.
In a tragic paradox, healthy breastfeeding patterns that have persisted in Africa despite inroads by multinational formula manufacturers are now being reassessed in light of the dangers of AIDS. Women who are HIV-positive should not nurse their children, experts now caution, as the disease can be transmitted in breastmilk.
Charles, a Haiti native, says that while more Haitian women breastfeed, women who work in her home country who work outside the home face the same problems as American women: lack of time.
According to Dr. Young, however, low breastfeeding rates in the United States have less to do with the pressure to work than with lack of support of education.
Most mothers who quit nursing stop just seven to ten days after giving birth, Young says, largely due to not knowing how to breastfeed properly. A new mother’s milk does not come in, typically until three days after birth. Young says (before the milk arrives, a fluid called co lustrum is produced, which itself confers powerful benefits and is all the nutrition a newborn needs.) But the typical HMO’s 48-hour discharge policy for childbirth means many women go home without ever receiving adequate breastfeeding education. “We have to educate our providers,” Young says.
“Breastfeeding is not supposed to hurt,” says Melissa Clark Vickers, a lactation consultant and an accredited La Leche League Leader based in Tennessee, writing for the Breastfeed.com informational Website. “Pain is a red flag that something is not right—most often due to improper positioning,” she says. On the other hand, many experts point out that initial soreness and discomfort is normal and can be easily corrected by advice from a lactation consultant—or in communities in which breastfeeding is still common, from an experienced mother.
In our culture, Young says doctors and hospitals have to do their part in getting the word out. She admits that some negative attitudes women have towards breastfeeding can be traced towards to lack of encouragement and support among medical practitioners. “We have to take our licks too,” Young says. But Young believes insurance companies have a share in not giving women health insurance coverage at a critical point after birth.
There are other ways the larger society can help promote breastfeeding. Young points to legislation sponsored by Congresswoman Carolyn Maloney (D-NY) that supports the “civil rights” of women who want to breastfeed or express milk in the workplace during lunch breaks.
In a statement made last year at a breastfeeding promotion rally in the District of Columbia, Rep. Maloney described how several women have been kicked out of federal parks, federal museums, federal buildings and even the U.S. Capitol for doing “the most natural thing in the world— breastfeeding a child.” Many women blame the nature of American culture, which equates breasts only with sexuality, not with their nutritional and maternal function, for an attitude that discourages mothers from nursing their children (even discretely) in public places.
Another piece of Maloney-backed legislation, this one successfully enacted, requires states to use more of their WIC dollars on breastfeeding promotion and support, instead of just distributing free infant formula to low-income mothers. Young commends WIC for works to promote breastfeeding among low-income mothers, unlike in past decades.
Experts say public service campaigns educating African-American women and others about the merits of breastfeeding will be key in getting more women to breastfeed. The only way more women will start to breastfeed is if they make a conscious decision to not use infant formula, experts say.
“It’s a struggle,” Young says. “Breastfeeding is just not the norm in America. Before breastfeeding rates increase, cultural and social norms must change. We’ve got some ways to go.”
Originally published January 31, 2001
Africana.com
By Pamela Appea
Adina Gittens-Smith, a 30-year-old mother of two young boys, knew she wanted to breastfeed even before her children were born. “I read so many things and everything said breastfeeding was good,” said the Maryland school administrator.
Being a health-conscious vegetarian also played a part for Gittens-Smith. “I wanted to make the best nutritious selection for my child,” she says. And joining a local African-American breastfeeding group also helped Gittens-Smith get the information and support she needed.
But as a group, African-American mothers aren’t breastfeeding their babies as much, or for as long, as other mothers, according to a new report out from the federal Department of Health and Human Services. And experts like Dr. Yvonne Bronner of Morgan State University go as far to say the “culture of breastfeeding has been lost, especially in the low-income African-American community.”
Using data from a 1998 survey, “The Health and Human Services Blueprint for Action on Breastfeeding” report found only 45% of African-American mothers breastfeed their babies even for a brief period. Almost every other racial group surveyed reported higher breastfeeding rates.
The survey found 66% of Latina mothers and 68% of white mothers breastfeed their babies for at least a few weeks. About 54% of low-income Asian and Pacific Islander mothers breastfeed, along with 59% of Native American and Alaska native mothers, for a similar period.
“The time has come for us to work together to promote optimal breastfeeding practices,” says U.S. Surgeon General Dr. David Satcher, who oversaw the HHS report. Satcher found breastfeeding rates to be “alarmingly” low for African-American mothers.
While breastfeeding rates have increased over the last decade, the report also found only 29 percent of all mothers, and a mere 19 percent of black mothers, reported breastfeeding their babies six months after their birth.
The American Academy of Pediatrics recommends their mothers breastfeed their children for at least 12 months, with breastmilk as the only food for the first six months of life. In a policy statement released in 1997, the AAP described breastmilk as “uniquely superior for infant feeding,” and cited its effectiveness in decreasing the incidence and severity of diarrhea, respiratory infections, ear infections, allergies and other illnesses. In addition, the AAP argues that nursing is beneficial to mothers, helping ease postpartum bleeding, delay[s] resumption of ovulation and reduce[s] the risk of ovarian and premenopausal breast cancers. Not only that: the report estimates a savings of at least $400 annually for mothers who choose to nurse rather than formula feed their infants.
But some black mothers say they don’t have the luxury to breastfeed for six months. Marie Charles, a Brooklyn mother of one, said black women who work generally don’t have the time to breastfeed like wealthier white women.
Charles, who is nine months pregnant with her second child, breastfed her son for six weeks and plans to do the same for her second baby. But Charles adds her husband thinks she should go back to work as soon as possible. “It’s just easier for working women to use infant formula,” she says.
The pressure to return to work, especially in jobs that do not offer progressive maternity leave policies, is one reason for low breastfeeding rates. Another is the ubiquitousness of commercial baby formula (which is often given to new mothers when they leave the hospital after giving birth, and is included in the WIC nutrition program.) In addition, women are less likely to breastfeed without support from their partners and other significant people in their lives. Having a mother, grandmother, aunt and close friend who has breastfeed, or who supports breastfeeding, can improve the likelihood that a new mother will choose to nurse her baby.
Dr. Michal Young, M.D., director of the neonatal intensive care unit at D.C. General Hospital, says the rate of black women patients in the District who breastfeed was dismally low when she started her career in 1985. Today, breastfeeding rates there hover around 35%, up 30 percentage points from the 5% breastfeeding rates in the mid-eighties.
Black women who choose to nurse their children report satisfaction, but some frustrations.
“I breastfeed because it’s physically, mentally and emotionally healthier for baby than bottles,” said Martha Ajiwe, a 37-year-old Maryland mother of three who breastfed her first two children till they were nine months, and her third child until she was a year old.
“Physically, breastfed babies get sick less often and breast milk transfers immunity [temporarily] from mom to baby. Mentally, breastfed babies develop better intellectually. Emotionally, babies and moms bond during feeding.”
“Breastfeeding is not sexy,” Ajiwe jokes. I think mothers who are more mature choose to breastfeed because they have developed more understanding of [the] needs of [the] baby and are more willing to do whatever it takes to put [the] baby’s needs first.”
Denise White, a 29-year-old Virginia mother, says she made it a priority to breastfeed her three children even through work, school and other commitments took her time.
“I found it quite difficult to breastfeed and work at the same time,” says White, who works as an office manager for an adolescent substance abuse prevention organization, and is a part-time student.
“Black women, I think, are more afraid of the idea of breastfeeding than white women,” says White. “I think [it’s because of] the idea they would have to be there with the child a large majority of the time, because they are ‘the bottle,’ is what keeps them from doing it.
Nursing mothers who work in an office environment can express breastmilk to be given to their babies in a bottle by other caregivers, but many women work in environments that do not accommodate this.
The breastfeeding advocacy group La Leche’s classic book, The Womanly Art of Breastfeeding encourages women not only to nurse their babies, but to draw power and self-respect for being able to sustain their children, something White and others say can be a particularly hard concept for younger African-American mothers to grasp.
“I think younger moms and moms who were not breastfed themselves are less likely to breastfeed because they have difficulty perceiving their bodies as source of sustenance,” Ajiwe says.
Eugenia Hull, a Lanham, Maryland-area natural childbirth instructor, says she appreciates what groups like La Leche League have done. But, recognizing the need to give black mothers a culturally-sensitive space, she founded Adero, a black breastfeeding support group in the early ‘90s.
Other African-American women say La Leche League seems to cater mostly to upper-middle class white women, many of whom do not have to work. But Dr. Michal Young adds that while La Leche League groups in the United States may be homogenous, there is a significant racial shift at international conferences.
It’s ironic so few African-Americans breastfeed today, Young says. Infant formula made its debut in the United States in 1940, but black women largely due to poverty, were the last group to adopt its use in larger numbers.
Breastfeeding rates for African-American women look especially low when compared with patterns among black mothers outside the United States. In Africa, breastfeeding rates are extremely high, ranging from 75% to 100% across the continent. And many of these mothers nurse their children for at least a year, the period recommended by the AAP.
In a tragic paradox, healthy breastfeeding patterns that have persisted in Africa despite inroads by multinational formula manufacturers are now being reassessed in light of the dangers of AIDS. Women who are HIV-positive should not nurse their children, experts now caution, as the disease can be transmitted in breastmilk.
Charles, a Haiti native, says that while more Haitian women breastfeed, women who work in her home country who work outside the home face the same problems as American women: lack of time.
According to Dr. Young, however, low breastfeeding rates in the United States have less to do with the pressure to work than with lack of support of education.
Most mothers who quit nursing stop just seven to ten days after giving birth, Young says, largely due to not knowing how to breastfeed properly. A new mother’s milk does not come in, typically until three days after birth. Young says (before the milk arrives, a fluid called co lustrum is produced, which itself confers powerful benefits and is all the nutrition a newborn needs.) But the typical HMO’s 48-hour discharge policy for childbirth means many women go home without ever receiving adequate breastfeeding education. “We have to educate our providers,” Young says.
“Breastfeeding is not supposed to hurt,” says Melissa Clark Vickers, a lactation consultant and an accredited La Leche League Leader based in Tennessee, writing for the Breastfeed.com informational Website. “Pain is a red flag that something is not right—most often due to improper positioning,” she says. On the other hand, many experts point out that initial soreness and discomfort is normal and can be easily corrected by advice from a lactation consultant—or in communities in which breastfeeding is still common, from an experienced mother.
In our culture, Young says doctors and hospitals have to do their part in getting the word out. She admits that some negative attitudes women have towards breastfeeding can be traced towards to lack of encouragement and support among medical practitioners. “We have to take our licks too,” Young says. But Young believes insurance companies have a share in not giving women health insurance coverage at a critical point after birth.
There are other ways the larger society can help promote breastfeeding. Young points to legislation sponsored by Congresswoman Carolyn Maloney (D-NY) that supports the “civil rights” of women who want to breastfeed or express milk in the workplace during lunch breaks.
In a statement made last year at a breastfeeding promotion rally in the District of Columbia, Rep. Maloney described how several women have been kicked out of federal parks, federal museums, federal buildings and even the U.S. Capitol for doing “the most natural thing in the world— breastfeeding a child.” Many women blame the nature of American culture, which equates breasts only with sexuality, not with their nutritional and maternal function, for an attitude that discourages mothers from nursing their children (even discretely) in public places.
Another piece of Maloney-backed legislation, this one successfully enacted, requires states to use more of their WIC dollars on breastfeeding promotion and support, instead of just distributing free infant formula to low-income mothers. Young commends WIC for works to promote breastfeeding among low-income mothers, unlike in past decades.
Experts say public service campaigns educating African-American women and others about the merits of breastfeeding will be key in getting more women to breastfeed. The only way more women will start to breastfeed is if they make a conscious decision to not use infant formula, experts say.
“It’s a struggle,” Young says. “Breastfeeding is just not the norm in America. Before breastfeeding rates increase, cultural and social norms must change. We’ve got some ways to go.”
Originally published January 31, 2001
Teach your Children Well: African American Homeschoolers
Teach your Children Well: African American Homeschoolers
Africana.com
By Pamela Appea
When Joyce Wardick’s youngest son was five and ready for kindergarten in 1984, his mother worried about how her child would fare in a big-school environment. Wardick’s son was small for his age and often sick due to a chronic medical condition. “Surely I can do kindergarten,” the Maryland native and single mother thought to herself. So Wardick began investigating a Christian-oriented home-schooling program that provides the curriculum for families.
But when her son had a serious epilepsy-related medical emergency, Wardick accelerated her plans. Sitting in the hospital waiting room, Wardick, who has worked as a nurse and physician’s assistant, promised God that if her son were to recover, she would stay home and home-school him indefinitely. Looking back, Wardick who currently home-schools two of her grandchildren, recalls that her son never seriously got sick again.
Home-schooling has exploded in the past five years, with the National Home Education Research Institute reporting that between 1.3 and 1.7 million American children from kindergarten to twelfth grade are homeschooled. For African-Americans and other minorities, the number of homechooled students has also significantly increased over the last ten years, although homeschooled African-American children are still am minority within a minority.
“Many minority have finally recognized that government-run education, whose officials and teachers have told them for over 50 years that public schools wouldn’t ‘save them’ has not and cannot do so,” said Brian Ray, president of the National Home Education Research Institute. Ray says that roughly 30,000 to 50,000 African-American children are home-schooled, but cautions that these numbers are estimates, since there are no reliable surveys on minority-homeschooled children. But Ray notes that groups such as the newly-created National Black Home Educators Resource Association, based in Baker, Louisiana, are starting to find a voice.
Most families who homeschool are white, middle-class, two-parent households in which the mother works within the home. But the demographics of homeschooling families are changing, as evidenced by Wardick and others. Homeschooling has definitely become more mainstream, and is no longer associated with fringe or anti-government people, said Margaret Shaw, a long-terim homeschooling parent whose husband founded the Virginia Home Education Association.
Donna Knox, founder and administrator of Day Spring Academy, an Alabama-based church school that acts as an umbrella organization for homeschooling parents across the state and country, has also seen a change in homeschooling families. Knox, who has homeschooled her nine children for 17 years, estimates that around 20-25% of the 600 homeschooled students Day Spring Academy serves are minorities, mostly African-American or of Middle Eastern descent.
Some homeschooling advocates say that the numbers of homeschooled African American children are too low, arguing that public schools are too secular, often violent, and offer inadequate resources for Afrocentric families who want alternatives for their children’s school curriculum.
Joyce Burgess says there are countless reasons why she has chosen to home-school her two sons and three daughters. But one experience stands out in her mind. One day, Burgess was reading one of Laura Ingall Wilder’s Little House books to her daughter, then five, when the girl asked, “Mom are there any books like this for blacks?”
With many public and private schools offering a mostly Eurocentric curriculum, Burgess says, she feared that a teacher wouldn’t be able to answer such a question, if her daughter asked it in school. But as a homeschooling parent, Burgess helped her daughter thoroughly research her question. Among the books they found, Burgess says, her family particularly enjoyed the Addy Book series, which chronicles the life of a former slave girl whose family moves up North after the end of The Civil War.
Creating a national platform for black homeschoolers was something Joyce and Eric Burgess thought about for years. The family traveled across the country attending homeschooling conferences, and Eric Burgess served on the board of the Louisiana State Homeschooling Association. But after Eric Burgess finished his term, the couple decided to help unite African Americans and educate others about African American homeschooling families, in addition to providing people with resources, and the National Black Home Educators Resource Association was born.
Homeschooling parents say the biggest challenge lies in educating the public about their right to homschool. Burges recalls a recent lunch which one woman asked her, in all seriousness, “Is [home-schooling] really legal.”
Starting out, Burgess said, her homeschooling met with a cool reception. “I faced hostility from the white community, the black community, my family,” she recalled. But now, Burgess says, close friends and family members love the idea and are much more supportive. “Black America has always valued education,” Burgess said. “Home-schooling is just another unique way for us to reclaim it for ourselves.”
Lawrence Burges, 17, a Baton Rouge community-college student since he was 16, plans on transferring to Louisiana State University is about two years. He says the best thing about home-schooling was the one-on-one attention. “It’s just like you when you get a [custom-made] suit; it’s tailored especially for you,” he said. “I could work on what aspects of mine needed to be worked on and which aspects of mine—music—was a strength.”
The downside to home-schooling, Lawrence says, was the absence of athletic teams in his elementary-age years, since public schools in many states routinely bar homeschooled students from participating. It’s not just sports; critics worry that homeschooled children will miss the social interaction their peers get in and out of the classroom. But homeschooling families say it’s just a matter of creating opportunities for socialization. Lawrence says he got involved with a state homeschooling league where he played basketball, football and soccer during his teen years.
Another challenge for black parents is making the financial aspect work. In particular, many interested single parents think homescholing wouldn’t be an option for them. “I know a lot of African American families … don’t have the luxury.” Said Wardick, who homeschooled her son as a single parent. While personal finances were definitely an issue for her, Wardick says she found ways and resources for homeschooling to work.
One of the first hings for single parents to make homeschooling fit into their schedules, Wardick says, is to let go of the notion that school hours can only fall between 8:30 a.m.-3 p.m. “You could work during the day and home school during the night,” or vice versa, Wardick counseled. Wardicks adds that families have to work out the best schedule for themselves, depending on the age of the child and the family’s childcare resources.
With the rise of the technology and the Internet, schools like the Internet Home School (www.homeschool.com) are popping up, providing phone tutorial help and detailed curricula, and for some subjects, like Spanish or French, audiotaped lesson plans. Many African American families use correspondence-type programs that issue diplomas, but other feel free to loosely adhere to a proposed curriculum, adding, or in some cases, leaving out, what they choose. The Burgess family, a self-described singing family, emphasizes music and voice lessons. They also heavily emphasize reading, something most homeschooling mothers of all races, who are often the primary teachers, are drawn to.
When Wardick homeschooled her son, she found it a challenge getting her son to like reading. He absolutely hated reading, Wardick recalls, and was a slow reader. To encourage her son to read for fun, she gave him comic books upon comic books—something most school teachers wouldn’t even consider.
But studies show the majority of homeschoolig kids are not academically lacking and do not, in fact, have trouble getting into college. In fact, some homeschooling parents say, in recent years colleges have been actively recruiting homeschooled children, who routinely out-perform their peers on standardized tests and often enroll in local community colleges to take classes beginning at 15 or 16. According to the Home School Legal Defense Association, nearly 25% of homeschooled students are enrolled one or more grades above their age-level peers in public and private schools. The National Home Education Research Institute’s 1997 study showed that homeschoolers outperform their K-12 public school peers by as much as 30 to 37 percent across all subjects, including social studies, reading and math.
The biggest reward of all, Wardick says, lies in the fact that her youngest son is now a 21-year-old honor student at a Bible college in upstate New York. “If you know anything about bible school,” Wardick added, “there’s a lot of reading.”
Originally published January 31, 2001
Africana.com
By Pamela Appea
When Joyce Wardick’s youngest son was five and ready for kindergarten in 1984, his mother worried about how her child would fare in a big-school environment. Wardick’s son was small for his age and often sick due to a chronic medical condition. “Surely I can do kindergarten,” the Maryland native and single mother thought to herself. So Wardick began investigating a Christian-oriented home-schooling program that provides the curriculum for families.
But when her son had a serious epilepsy-related medical emergency, Wardick accelerated her plans. Sitting in the hospital waiting room, Wardick, who has worked as a nurse and physician’s assistant, promised God that if her son were to recover, she would stay home and home-school him indefinitely. Looking back, Wardick who currently home-schools two of her grandchildren, recalls that her son never seriously got sick again.
Home-schooling has exploded in the past five years, with the National Home Education Research Institute reporting that between 1.3 and 1.7 million American children from kindergarten to twelfth grade are homeschooled. For African-Americans and other minorities, the number of homechooled students has also significantly increased over the last ten years, although homeschooled African-American children are still am minority within a minority.
“Many minority have finally recognized that government-run education, whose officials and teachers have told them for over 50 years that public schools wouldn’t ‘save them’ has not and cannot do so,” said Brian Ray, president of the National Home Education Research Institute. Ray says that roughly 30,000 to 50,000 African-American children are home-schooled, but cautions that these numbers are estimates, since there are no reliable surveys on minority-homeschooled children. But Ray notes that groups such as the newly-created National Black Home Educators Resource Association, based in Baker, Louisiana, are starting to find a voice.
Most families who homeschool are white, middle-class, two-parent households in which the mother works within the home. But the demographics of homeschooling families are changing, as evidenced by Wardick and others. Homeschooling has definitely become more mainstream, and is no longer associated with fringe or anti-government people, said Margaret Shaw, a long-terim homeschooling parent whose husband founded the Virginia Home Education Association.
Donna Knox, founder and administrator of Day Spring Academy, an Alabama-based church school that acts as an umbrella organization for homeschooling parents across the state and country, has also seen a change in homeschooling families. Knox, who has homeschooled her nine children for 17 years, estimates that around 20-25% of the 600 homeschooled students Day Spring Academy serves are minorities, mostly African-American or of Middle Eastern descent.
Some homeschooling advocates say that the numbers of homeschooled African American children are too low, arguing that public schools are too secular, often violent, and offer inadequate resources for Afrocentric families who want alternatives for their children’s school curriculum.
Joyce Burgess says there are countless reasons why she has chosen to home-school her two sons and three daughters. But one experience stands out in her mind. One day, Burgess was reading one of Laura Ingall Wilder’s Little House books to her daughter, then five, when the girl asked, “Mom are there any books like this for blacks?”
With many public and private schools offering a mostly Eurocentric curriculum, Burgess says, she feared that a teacher wouldn’t be able to answer such a question, if her daughter asked it in school. But as a homeschooling parent, Burgess helped her daughter thoroughly research her question. Among the books they found, Burgess says, her family particularly enjoyed the Addy Book series, which chronicles the life of a former slave girl whose family moves up North after the end of The Civil War.
Creating a national platform for black homeschoolers was something Joyce and Eric Burgess thought about for years. The family traveled across the country attending homeschooling conferences, and Eric Burgess served on the board of the Louisiana State Homeschooling Association. But after Eric Burgess finished his term, the couple decided to help unite African Americans and educate others about African American homeschooling families, in addition to providing people with resources, and the National Black Home Educators Resource Association was born.
Homeschooling parents say the biggest challenge lies in educating the public about their right to homschool. Burges recalls a recent lunch which one woman asked her, in all seriousness, “Is [home-schooling] really legal.”
Starting out, Burgess said, her homeschooling met with a cool reception. “I faced hostility from the white community, the black community, my family,” she recalled. But now, Burgess says, close friends and family members love the idea and are much more supportive. “Black America has always valued education,” Burgess said. “Home-schooling is just another unique way for us to reclaim it for ourselves.”
Lawrence Burges, 17, a Baton Rouge community-college student since he was 16, plans on transferring to Louisiana State University is about two years. He says the best thing about home-schooling was the one-on-one attention. “It’s just like you when you get a [custom-made] suit; it’s tailored especially for you,” he said. “I could work on what aspects of mine needed to be worked on and which aspects of mine—music—was a strength.”
The downside to home-schooling, Lawrence says, was the absence of athletic teams in his elementary-age years, since public schools in many states routinely bar homeschooled students from participating. It’s not just sports; critics worry that homeschooled children will miss the social interaction their peers get in and out of the classroom. But homeschooling families say it’s just a matter of creating opportunities for socialization. Lawrence says he got involved with a state homeschooling league where he played basketball, football and soccer during his teen years.
Another challenge for black parents is making the financial aspect work. In particular, many interested single parents think homescholing wouldn’t be an option for them. “I know a lot of African American families … don’t have the luxury.” Said Wardick, who homeschooled her son as a single parent. While personal finances were definitely an issue for her, Wardick says she found ways and resources for homeschooling to work.
One of the first hings for single parents to make homeschooling fit into their schedules, Wardick says, is to let go of the notion that school hours can only fall between 8:30 a.m.-3 p.m. “You could work during the day and home school during the night,” or vice versa, Wardick counseled. Wardicks adds that families have to work out the best schedule for themselves, depending on the age of the child and the family’s childcare resources.
With the rise of the technology and the Internet, schools like the Internet Home School (www.homeschool.com) are popping up, providing phone tutorial help and detailed curricula, and for some subjects, like Spanish or French, audiotaped lesson plans. Many African American families use correspondence-type programs that issue diplomas, but other feel free to loosely adhere to a proposed curriculum, adding, or in some cases, leaving out, what they choose. The Burgess family, a self-described singing family, emphasizes music and voice lessons. They also heavily emphasize reading, something most homeschooling mothers of all races, who are often the primary teachers, are drawn to.
When Wardick homeschooled her son, she found it a challenge getting her son to like reading. He absolutely hated reading, Wardick recalls, and was a slow reader. To encourage her son to read for fun, she gave him comic books upon comic books—something most school teachers wouldn’t even consider.
But studies show the majority of homeschoolig kids are not academically lacking and do not, in fact, have trouble getting into college. In fact, some homeschooling parents say, in recent years colleges have been actively recruiting homeschooled children, who routinely out-perform their peers on standardized tests and often enroll in local community colleges to take classes beginning at 15 or 16. According to the Home School Legal Defense Association, nearly 25% of homeschooled students are enrolled one or more grades above their age-level peers in public and private schools. The National Home Education Research Institute’s 1997 study showed that homeschoolers outperform their K-12 public school peers by as much as 30 to 37 percent across all subjects, including social studies, reading and math.
The biggest reward of all, Wardick says, lies in the fact that her youngest son is now a 21-year-old honor student at a Bible college in upstate New York. “If you know anything about bible school,” Wardick added, “there’s a lot of reading.”
Originally published January 31, 2001
Monday, January 15, 2001
Hirst Launches Hedge Fund
Hirst Launches Hedge Fund
Alternative Investment News
By Pamela Appea
Hirst Investment Management, an Orlando-Fla. Based alternative investment firm is launching the Hirst MetaStategy Ltd. Fund, targeting investors with a minimum investment of $100,000.
The hedge fund uses what Gary Hirst, founder and chairman of Hirst Investment Management, calls a computational intelligence model that puts about 20 major hedge fund strategies to use, including long/short, emerging markets, market neutral and merger arbitrage.
This system, Hirst said, will create allocations for different investment styles and targets steady annualized returns of 18-20% a year.
“I’ve been in alternative investments for 27 years,” Hirst said. “And the most important factor in determining your investment return and risk is your choice of styles.” The fund carries a 2% management fee and a 20% performance fee, he added.
“We’re not going to make 50% any year,” Hirst said, noting his main goal for the fund is preserving capital, not trying to achieve wildly above-average returns. “If you can make 20% a year, every year, that’s a good return,” Hirst said.
Originally published January 15, 2001
Alternative Investment News
By Pamela Appea
Hirst Investment Management, an Orlando-Fla. Based alternative investment firm is launching the Hirst MetaStategy Ltd. Fund, targeting investors with a minimum investment of $100,000.
The hedge fund uses what Gary Hirst, founder and chairman of Hirst Investment Management, calls a computational intelligence model that puts about 20 major hedge fund strategies to use, including long/short, emerging markets, market neutral and merger arbitrage.
This system, Hirst said, will create allocations for different investment styles and targets steady annualized returns of 18-20% a year.
“I’ve been in alternative investments for 27 years,” Hirst said. “And the most important factor in determining your investment return and risk is your choice of styles.” The fund carries a 2% management fee and a 20% performance fee, he added.
“We’re not going to make 50% any year,” Hirst said, noting his main goal for the fund is preserving capital, not trying to achieve wildly above-average returns. “If you can make 20% a year, every year, that’s a good return,” Hirst said.
Originally published January 15, 2001
Hirst Launches Hedge Fund
Hirst Launches Hedge Fund
Alternative Investment News
By Pamela Appea
Hirst Investment Management, an Orlando-Fla. Based alternative investment firm is launching the Hirst MetaStategy Ltd. Fund, targeting investors with a minimum investment of $100,000.
The hedge fund uses what Gary Hirst, founder and chairman of Hirst Investment Management, calls a computational intelligence model that puts about 20 major hedge fund strategies to use, including long/short, emerging markets, market neutral and merger arbitrage.
This system, Hirst said, will create allocations for different investment styles and targets steady annualized returns of 18-20% a year.
“I’ve been in alternative investments for 27 years,” Hirst said. “And the most important factor in determining your investment return and risk is your choice of styles.” The fund carries a 2% management fee and a 20% performance fee, he added.
“We’re not going to make 50% any year,” Hirst said, noting his main goal for the fund is preserving capital, not trying to achieve wildly above-average returns. “If you can make 20% a year, every year, that’s a good return,” Hirst said.
Originally published January 15, 2001
Alternative Investment News
By Pamela Appea
Hirst Investment Management, an Orlando-Fla. Based alternative investment firm is launching the Hirst MetaStategy Ltd. Fund, targeting investors with a minimum investment of $100,000.
The hedge fund uses what Gary Hirst, founder and chairman of Hirst Investment Management, calls a computational intelligence model that puts about 20 major hedge fund strategies to use, including long/short, emerging markets, market neutral and merger arbitrage.
This system, Hirst said, will create allocations for different investment styles and targets steady annualized returns of 18-20% a year.
“I’ve been in alternative investments for 27 years,” Hirst said. “And the most important factor in determining your investment return and risk is your choice of styles.” The fund carries a 2% management fee and a 20% performance fee, he added.
“We’re not going to make 50% any year,” Hirst said, noting his main goal for the fund is preserving capital, not trying to achieve wildly above-average returns. “If you can make 20% a year, every year, that’s a good return,” Hirst said.
Originally published January 15, 2001
Monday, January 01, 2001
Mutual Fund Guru Eyes Europe, Institutional Market for Hedge Fund
Mutual Fund Guru Eyes Europe, Institutional Market for Hedge Fund
Alternative Investment News
January 2001
By Pamela Appea
Mutual fund pioneer Michael Lipper is looking to possibly expand L & S Partners I, LLC, the hedge fund he co-founded a year-and-a-half ago, to the European market in about a year’s time.
With a current focus on high-net-worth individuals in the domestic sector, the fund is also looking to increase the number of endowments, foundations and other institutional clients looking to invest in alternatives, Lipper said.
“We’re going to have to wait before we do an institutional push,” Lipper said. “Part of that will depend on how the gods of performance treat us,” he joked.
The Milwaukee-based fund, which opened its doors in June 1999, invests in financial service groups, and had a 36% performance rate in 2000. Along with Lipper, managing member Zuheir Sofia, former ceo and president of the Columbus, Ohio-based Huntington Bank, are working with the firms’ two other principal members to develop their $17 million dollar long/short hedge fund.
The fund’s minimum for investment is $500,000, although the minimum amount is not cast in stone, Lipper added. L & S Partners I will employ the standard fee, with a 1% management fee and a 20% performance fee over a 6% hurdle.
Lipper, who is based in Summit, New Jersey, recently left his position as non-executive chairman for Lipper Inc., a mutual funds data and research group.
Now he plans on spending more time on L & S Partners I, which is a stand-alone hedge fund. Lipper who is the president of Lipper Advisory Services, a group that manages or advises about $750 million in investments for institutional clients and wealthy families.
Alternative Investment News
January 2001
By Pamela Appea
Mutual fund pioneer Michael Lipper is looking to possibly expand L & S Partners I, LLC, the hedge fund he co-founded a year-and-a-half ago, to the European market in about a year’s time.
With a current focus on high-net-worth individuals in the domestic sector, the fund is also looking to increase the number of endowments, foundations and other institutional clients looking to invest in alternatives, Lipper said.
“We’re going to have to wait before we do an institutional push,” Lipper said. “Part of that will depend on how the gods of performance treat us,” he joked.
The Milwaukee-based fund, which opened its doors in June 1999, invests in financial service groups, and had a 36% performance rate in 2000. Along with Lipper, managing member Zuheir Sofia, former ceo and president of the Columbus, Ohio-based Huntington Bank, are working with the firms’ two other principal members to develop their $17 million dollar long/short hedge fund.
The fund’s minimum for investment is $500,000, although the minimum amount is not cast in stone, Lipper added. L & S Partners I will employ the standard fee, with a 1% management fee and a 20% performance fee over a 6% hurdle.
Lipper, who is based in Summit, New Jersey, recently left his position as non-executive chairman for Lipper Inc., a mutual funds data and research group.
Now he plans on spending more time on L & S Partners I, which is a stand-alone hedge fund. Lipper who is the president of Lipper Advisory Services, a group that manages or advises about $750 million in investments for institutional clients and wealthy families.
Altgate to launch five funds
Altgate to launch five funds
Alternative Investment News
January 2001
By Pamela Appea
Altgate Capital, which opened its doors last year, is launching its first five hedge funds and plans to have another five out by the end of the first quarter.
The funds will employ strategies including long/short, merger arbitrage, event-driven, distressed debt and emerging market styles, said James Baker, chairman and a former 25-year Goldman Sachs veteran.
The funds, will be offered through third-party distribution channels including private banks and financial advisors and will carry standard fees of 1% management/20% performance.
Total costs after factoring in hose of the distributor will be about 2% management and 25% incentive, Baker said. Private client minimums will be $1 million for investment.
The funds will be targeted toward small and medium-sized institutions and high-net-worth individuals. Altgate is presently looking for distribution channels.
“We already have five hedge funds lined up for clients … Five will probably not be enough. By the end of the first quarter we will be offering at least 10,” Baker said.
Baker, who is housed in Altgate’s London office, said the company is weighing the option of opening an Altgate office in Switzerland to court private banks, but he noted no decisions will be made until the second half of 2001.
New York-based Altgate Capital is also looking to hire people in both its London and New York offices, in research and sales, respectively.
Alternative Investment News
January 2001
By Pamela Appea
Altgate Capital, which opened its doors last year, is launching its first five hedge funds and plans to have another five out by the end of the first quarter.
The funds will employ strategies including long/short, merger arbitrage, event-driven, distressed debt and emerging market styles, said James Baker, chairman and a former 25-year Goldman Sachs veteran.
The funds, will be offered through third-party distribution channels including private banks and financial advisors and will carry standard fees of 1% management/20% performance.
Total costs after factoring in hose of the distributor will be about 2% management and 25% incentive, Baker said. Private client minimums will be $1 million for investment.
The funds will be targeted toward small and medium-sized institutions and high-net-worth individuals. Altgate is presently looking for distribution channels.
“We already have five hedge funds lined up for clients … Five will probably not be enough. By the end of the first quarter we will be offering at least 10,” Baker said.
Baker, who is housed in Altgate’s London office, said the company is weighing the option of opening an Altgate office in Switzerland to court private banks, but he noted no decisions will be made until the second half of 2001.
New York-based Altgate Capital is also looking to hire people in both its London and New York offices, in research and sales, respectively.
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