« Fascinating... | Main | From AY to Coney: Kruger becomes "community" advocate »
November 21, 2007
Barclays, Forest City and the Nets Announce New Community Alliance
Rev. Al Sharpton Praises Move
Brooklyn Daily Eagle
Here's the latest CYA move for the Barclays/Ratner deal for the naming rights for a new Nets arena in Brooklyn, which has infuriated many in the local African-American community. So far as we can tell, the Eagle has just reproduced the press release:
Barclays, Forest City Ratner Companies (FCRC) and the Nets basketball team recently announced the creation of the Barclays/Nets Community Alliance, a new organization committed to the athletic and educational development of youth in Brooklyn and surrounding communities.
The alliance says it will invest one million dollars per year in local non-profits that work to improve the lives of young people in the borough through sports and other activities, including education and health care.
“We’re delighted to partner with Forest City Ratner and the Nets in this alliance to foster youth development in Brooklyn and other nearby communities,” said Gerard LaRocca, chief administrative officer, Americas, at Barclays Capital, the investment banking division of Barclays PLC.
...
“We could not be happier about this program,” Bruce Ratner, the CEO and chairman of FCRC and chairman of the Nets, said.
...
“From the start, Forest City Ratner made it clear that they would put together programs that were beneficial to the surrounding communities,” Reverend Al Sharpton said. “From the historic community benefits agreement to one of the most progressive affordable and low-income housing programs, Ratner’s team has lived up to its early commitments.”
NoLandGrab: Meanwhile, Barclays recently added heat to the fire, when news broke that the controversial bank is now providing loans to cronies of the corrupt Mugabe regime in Zimbabwe.
This news obviously does not concern Rev. Sharpton, who has already received financial support from Atlantic Yards developer Forest City Ratner.
Posted by lumi at November 21, 2007 5:52 AM