In the last week, I attended two White House bill signings in two days. On Wednesday the President signed my STOCK (Stop Trading On Congressional Knowledge) Act. It’s important that members of Congress live by the same rules as everyone else. Then, the very next day, the President signed a jobs bill, in which the Crowdfund Act was included. This will help businesses get the capital they need to get off the ground.
STOCK Act Signed Into Law April 4, 2012
I believe our public servants should be focused on doing their jobs and putting America first every day. This law makes clear that using public office for insider trading is wrong. Thanks again to President Obama for signing this bill into law and staying true to this bipartisan effort.
"Senator Brown said the two bills showed what a bipartisan approach can accomplish, even in a Congress infamous for its divisions and gridlock.'" -New York Times
"The STOCK Act was first proposed more than five years ago in the House, but languished until Brown and Senator Kirsten Gillibrand, a Democrat from New York, revived the effort. Brown proposed his bill two days after the CBS news magazine '60 Minutes' aired a report that suggested members of Congress padded their stock portfolios based on insider information." - Boston Globe
"'It's the notion that the powerful shouldn't get to create one set of rules for themselves and another set of rules for everybody else,' [President] Obama said." -Boston Herald
"Crowdfunding" For Small Businesses
The biggest challenge small businesses face is often getting capital to test their ideas in the marketplace. Without financing, entrepreneurs can’t apply for a patent or invest in a piece of equipment.
Crowdfunding makes that capital available by allowing every American to invest in a startup or a great idea. This is important because, in many places, banks are constrained and aren’t lending. But crowdfunding means you can bypass Wall Street and go straight to Main Street—your friends, family, or a social network—for financing.
On Thursday, President Obama signed into law legislation I cosponsored that would allow small businesses to "sell" their good ideas to the public, allowing the average American to become an investor in one or several small businesses.
With the Massachusetts-based WeFunder team. Thanks for your efforts.
"'I think it's very good news,' said Attorney Scott Foster of Bulkley Richardson. 'It's really a game changer for funding for these startup companies who often struggle with that initial round of funding of $100 or 200 thousand.'" - WWLP, Northampton
"[An] entrepreneur can raise up to $1 million per year through an Securities and Exchange Commission-registered crowdfunding portal while citizens with an income of less than $100,000 per year are allowed to invest the greater of $2,000 or 5 percent of income. For individuals with an income of more than $100,000, investments are capped at 10%, up to $100,000." - MassLive.com
"Under the new law, an individual investor can put up to 10 percent of that investor’s income into startups like eHighLighter and Research Habits Digital, the company Holcomb is creating to develop eHighLighter...'This lets the average investor get a piece of the next Facebook,' Foster said." - MassLive.com
Fourth Bay State Jobs Fair Announced
SouthCoast, South Shore & Cape and Islands Jobs Fair
APRIL 27, 2012
10 A.M. – 3 P.M.
CAPE CODDER
1225 Iyannough Road
Hyannis, MA 02601
If you are currently looking for a job, simply want to explore other opportunities, make connections with the state’s employers, or want advice on resume writing, networking and interview strategies, come join us!
Register Here
Registration is NOT required to attend. You will, however, receive updates and more information.
Participating Companies Include:
Cape Cod Community College
Cape Cod Savings Bank
Career Opportunities (DETMA)
Catania Hospitality Group
Coast Guard
Drug Enforcement Agency (DEA)
Employer Support of the Guard and Reserve
Homeland Security
MA National Guard
Mutual of Omaha
Ocean Spray
OrganoGold
Providence VA Medical Center
TD Bank
The Home Depot
UPS
VA
Verizon Wireless
Around Town
I visited the Perkins School for the Blind on April 2nd, where I met with students and faculty, and learned a bit about their teaching methods.
I also stopped by Kuss Middle School on Tuesday, April 3rd to talk to the kids there, and shot a little ball.
Click the above photo for a short video.
Take Care,
Scott
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