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« September 2004 | Main | November 2004 »

October 2004 posts

Who we are sways how we invest, for better or worse

October 31, 2004
By Janet Kidd Stewart

When it comes to investing, who we are may matter more than what we know. Cultural and religious background plays a bigger role than education in determining investors’ attitudes about money, according to an article in a forthcoming collection of scholarly works by Oxford University Press titled “The Sociology of Financial Markets.”

The weighty tome takes on such issues as the role social networks play on trading behavior in financial markets and the decision-making process of the Federal Reserve.

And in a chapter devoted to the role cultural bias plays in investor decision-making, Werner DeBondt, a behavioral finance professor at DePaul University in Chicago, reviews a study of Western European investors that found stark differences among nationalities and religions.

“Culture matters,” said DeBondt. “Certain groups are clearly underrepresented in equities.”

Studies of U.S. investors have found similar cultural bias. Even after controlling for income, black and Hispanic investors are substantially underrepresented in the stock market compared with their white counterparts, for example.

Just 13 percent of Hispanics earning at least $75,000 a year owned common stocks in 2003, compared with 18 percent for the general U.S. population, according to a coming study by Mediamark Research for Hispanic Business Inc., a market research firm. Fourteen percent of affluent Hispanics owned mutual funds, while 21 percent of the wider U.S. population owned them last year. Hispanic investors in the study were found to concentrate more of their wealth in their homes and their own businesses.

Once you realize you may be investing according to type, there is a case to be made for learning to change your habits.

Continue reading “Who we are sways how we invest, for better or worse” »

Posted by on October 31, 2004 in Hispanic Business, Hispanic Culture | | Comments (0) | TrackBack (0)

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Radio tunes into Latino listeners

Census numbers make market sit up and listen

Sunday, October 31, 2004
By Dick Kreck

There is an old saying in the West: “Pioneers get the arrows, settlers get the land.”

It is the pioneers in Latino radio who took the arrows and now big corporations are settling in, trying to grab the turf.

When Clear Channel, the entertainment conglomerate, announced last month that it would double the number of its Spanish-language stations by converting as many as 25 of its 2,000 radio stations to Spanish-language programming in the next 18 months, it was another sign that the market is flourishing. Spanish-language radio is the medium’s fastest-growing segment.

Zee Ferrufino, majority owner of KBNO 1280-AM, Denver’s oldest and most popular independent Spanish-language station, saw it coming. In a Denver Post interview in February 2003, he said, “I worry that some day the small independents are going to disappear, and all we will have left is syndicated stations.”

Ferrufino sees no reason to change his mind. His mini-network of three Colorado stations would be a prime takeover target.

Of Denver’s five Spanish-language stations, which also include KJMN 92.1-FM, KXPK 96.5-FM, KMXA 1090-AM and KLVZ 1220-AM, only KBNO is independently owned. A fifth station, KJME 1390-AM, recently turned into the Denver outlet for KGNU, the Boulder-based publicly owned FM station.

Two giant companies entered the national fray in October. SABMiller Brewing signed a $100 million deal with Univision for advertising and promotion on the latter’s television and radio stations. And Infinity Broadcasting, through its parent company Viacom, traded KBAY-FM in San Francisco for a 10 percent interest in Spanish Broadcasting System.

“They can read the census reports,” Tom Taylor, editor of the trade paper Inside Radio, told the New York Daily News earlier this month. “This is a very important market for everyone in media.”

The possibilities of the format did not go entirely unnoticed before non-Latino-owned companies got interested.

Univision Communications and Hispanic Broadcasting Corp., which merged in 2003, own or operate 68 stations (none in Denver) with an estimated audience of 10 million. The combined company logged net income of $83.7 million in fiscal 2004. Last August, Radio Unica Communications Corp. sold its station group to Multicultural Radio Broadcasting for $150 million in cash.

Interest really began to rise about two years ago, Ferrufino said.

“Everybody wanted to get into the market,” he said. “Mortgage companies began lending money in the Hispanic community. A lot of (Latinos) don’t have credit cards so they have all this cash money to spend. They work in construction, making good money.”

Continue reading “Radio tunes into Latino listeners” »

Posted by on October 31, 2004 in Hispanic Media | | Comments (0) | TrackBack (0)

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Holiday has Latino roots

October 30, 2004
By Micaela Duarte

Celebrating the dead with music, food and general merriment during this pre-Latino holiday gives those still here a chance to praise those gone, and gives the spirits of the dead a chance to return home for a visit.

Relatives and friends of the deceased celebrate Dia de Los Muertos, or Day of the Dead, on Nov. 1 and 2, which coincide with the Christian holidays, All Saints Day and All Souls Day respectively.

Continue reading “Holiday has Latino roots” »

Posted by on October 31, 2004 in Hispanic Culture | | Comments (1) | TrackBack (0)

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A Mexican Feast for Bodies and Souls

October 27, 2004
By DAVE ROOS

Dayofthedead

PÁTZCUARO, Mexico

SOMETIMES the smell of a steaming, freshly corn-husked tamale is enticing enough to wake the dead.

This time of year, in the mountainous Lake Pátzcuaro region of the Mexican state of Michoacán, villagers prepare a feast for their deceased as part of the annual Day of the Dead celebrations. From the end of October through early November, families dedicate ofrendas (home altars) to the recently departed, setting a lavishly adorned table with the loved one’s favorite foods.

In this part of central Mexico, the table is crowded with indigenous classics like corundas, pyramidal tamales filled with salty cheese and poblano pepper; and churipo, a slow-simmered meat and vegetable stew in a ruddy broth of blended chilies, as well as more modern dishes like the regional staple sopa tarasca and the ubiquitous Day of the Dead treat, pan de muertos.

People here believe that the dead are guided by the alluring odors of their favorite foods during the long journey back from the world beyond. Once they arrive, they will share a meal with the living during an all-night vigil in the town cemetery.

The Day of the Dead is not Mexico’s answer to Halloween, nor is it a Latin-American interpretation of All Saints’ Day. Like Mexican food, itself a complex blend of indigenous and Spanish influences, the Day of the Dead is an inextricable mix of pre-Hispanic spiritualism and post-conquest Roman Catholicism.

Continue reading “A Mexican Feast for Bodies and Souls” »

Posted by on October 31, 2004 in Hispanic Culture | | Comments (0) | TrackBack (0)

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Course on Hispanic Marketing Communication

One of this blog’s readers, who happens to be a Doctoral Student at the Communication Dept at Florida State University, recently sent me an email with information about this course… check it out at the University’s website.

Wanted to make you aware of how important Latinos have become to American Business…

Posted by on October 29, 2004 in General Marketing & Advertising, Hispanic Business, Hispanic Culture, Hispanic Market Size, Hispanic Marketing & Advertising, Strategy | | Comments (0) | TrackBack (0)

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Seven Million Latino Voters — and Counting

October 22, 2004
By Mary Sanchez

On Nov. 2, all of the platitudes about Latinos must cede to the truth. “Largest minority group in the nation.” “Fastest-growing minority group.” “Nearly 40 million people, according to U.S. Census estimates.”

But on Election Day, what matters is seven million — the number of Latinos expected to vote. This is not to say that others are unimportant in other ways. But the reality is that on Election Day, those who are able and willing to vote take precedence.

Numbers alone have never meant political power, and gaining true political leverage is a slow process. So, a little sense prior to the election, please.

Continue reading “Seven Million Latino Voters — and Counting” »

Posted by on October 29, 2004 in Current Affairs | | Comments (0) | TrackBack (0)

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Why do Hispanics not drink wine?

Here’s an open invitation from my friend Juan Pablo Gauna to all Latinos out there… Salud!

To all:

I write this email asking for your help in wine as a part of your lifestyle. As Hispanics we are the fastest growing minority, largest buying power, and potentially the most productive ethnic group in the United States.

As some of you may know I have the particular task of creating, educating, and finding the Hispanic/Latino Wine consumer.

Currently in the United States, 20% of America drinks and buys 80% of wine sold here. As for Hispanics we have calculated that less than 5% (Simmons Study 2003) of 39.9 Million living in the U.S. (www.census.gov) consume wine.

Why is that? Is it education? Is it income? Or is it that our abuelos, parents, primos, and friends drank Tequila, brandy and beer; and we as consumers are content with that as an adult beverage.

Well as an American of Mexican-Indian descent I refuse to believe that! I believe Wine has become to “snobby” for us.

People who know nothing about wine try and impress the less knowledgeable in speaking about malo-lactic fermentation, and “Well Bob, I love my wine aged in Oak at least 4-6 months.” Truth is, Bob has no clue about malo-lactic fermentation or oak. HELL, Bob does not even know that Merlot is a grape and not a NAME BRAND!

We buy a lot of clothes, houses, BMW’s, Chevys, Palm Pilots…our sons and daughters are in extracurricular activities that cost A LOT OF MONEY! Yet we still cannot purchase a bottle of wine at our local supermarket.

We name our children Chloe Rene, Brittany Jennifer, Hunter, and even Forest. We do this to break away from traditional avenues, which is GREAT! This illustrates we are open to change.

Drinking wine is a change, so why can we not pick up a bottle? Is it that we continue to have our own peers saying “Horale, tomate una bironga guey!”? “C’mon, man take a SHOT!”

I am not asking you to drink wine for purpose of becoming inebriated. I am asking that you buy wine, good wine, wine that is available for your friends and family to enjoy. If you do not know how to buy or drink wine, I’ll teach you.

You supply the food, and at least 10 other Hispanic/Latinos over the age of 21. I will supply wine education!


John P. Gauna
Market Development Manager-Wine
Hispanic Marketing
Block Distributing/Republic Bev. Co.
[email protected]
1.800.749.7532 Ext. 7208- San Antonio
1.800.292.3303 Ext. 1456 -Houston

Posted by on October 28, 2004 in Hispanic Culture | | Comments (5) | TrackBack (0)

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HISPANIC ALMANAC 2005

Hispanicalmanac_1

I just ordered my copy… This is good stuff for all research “aficionados” (or freaks, however you prefer to call us).

Read more about it at the Hispanic Heritage Plaza 2004 website.

To order a copy visit HispanicOnline.com

Posted by on October 27, 2004 in Hispanic Business, Hispanic Culture, Hispanic Education, Hispanic Health, Hispanic Market Size, Hispanic Marketing & Advertising, Hispanic Media, Hispanic Organizations, Hispanic Owned Companies, Hispanic Websites, Immigration, Language | | Comments (1) | TrackBack (0)

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Spanish Strongly Favored Over French Among Young Americans

October 18, 2004
PR Newswire

Spanish has taken a clear lead over French as the language Americans are most likely to study in school, according to a recent study by Opinion Research Corporation.

About seven in ten Americans (71%) studied a foreign language when they were in school. Of those taught a foreign language, the most common one learned was Spanish (60%), followed by French (36%), German (14%) and Latin (9%).

Looking at the results by age, Spanish and French used to be about equally-taught, but Spanish has been heavily favored over French in recent decades. Among adults 45 and older, 48% took Spanish, compared to 44% who studied French. Among younger adults, however, Spanish has a 70%-30% edge. Latin has almost completely fallen out of favor, dropping from 16% among adults 55 and older, to only 3% among those 18-44.

“What language or languages were you taught?”

Total
Spanish 60%
French 36%
German 14%
Latin 9%

18-44 Year Olds
Spanish 70%
French 30%
German 13%
Latin 3%

45 and Older
Spanish 48%
French 44%
German 16%
Latin 16%


The “Foreign Language” study was conducted by Opinion Research Corporation’s CARAVAN(R) among a nationally representative sample of 1,011 adults 18 and older August 13-16, 2004, including 684 who studied a foreign language when they were in school. The study has a margin of error of +/- 3% at the 95% confidence level for results based on all adults, +/- 4% for results based on those who studied a foreign language.

Source: PR Newswire

Posted by on October 26, 2004 in Language | | Comments (0) | TrackBack (0)

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Supermarkets: The Latino influence

Coast to coast, chains are vying to leave no Hispanic customer behind, but for the independents it’s second nature.

October15, 2004
By Jenny McTaggart

It’s an ironic turn of events. During the past decade several supermarket chains had declared the urban Southern California market a dead end and pulled out, leaving behind a fallow field of empty boxes. But to a few eager local entrepreneurs, those abandoned stores looked ripe for cultivation into vibrant, community-oriented food markets, and those business owners set about figuring out how to serve the largely Hispanic populations the big guys hadn’t been able to.

Now some of those chains are clamoring to get back inside Los Angeles’ ethnically diverse urban neighborhoods. Why the prodigal return? They’ve observed the success of the independents there, for one thing. And like just about every other marketer and retailer of consumer goods, they have also been taught about the growing purchasing power of the burgeoning Latino population.

It’s a tale of more than one city. Other multicultural hotbeds, including New York, Chicago, and Houston, are home to thriving independent retailers that made a commitment to Hispanic merchandising long before it became fashionable.

In a sense, the Hispanic supermarket’s time has come — and, by and large, the authentic specialty operators are in the catbird seat.

“The independents really understand the communities in which they operate. I like to say they’re at the nerve of the Hispanic marketing world,” notes Steven A. Soto, president and c.e.o. of the Los-Angeles-based Mexican American Grocers Association (MAGA), a national group with 16,000 members — including large chains such as Kroger and Albertsons, but mostly smaller, locally owned stores — each serving a Hispanic consumer base of 30 percent or higher at some of their stores.

Continue reading “Supermarkets: The Latino influence” »

Posted by on October 26, 2004 in Hispanic Business, Hispanic Culture, Strategy | | Comments (0) | TrackBack (0)

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