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ST. LOUIS HIP-HOP SUMMIT ON FINANCIAL EMPOWERMENT A TRIUMPHANT SUCCESS
NELLY, RUSSELL SIMMONS, CHINGY, PAUL WALL, PENELOPE, TONY AUSTIN AND OTHERS JOIN AUTOMOTIVE FINANCE EXPERTS FROM CHRYSLER FINANCIAL AND CORPORATE LEADERS FROM ANHEUSER-BUSCH TO SHARE VITAL INFORMATION WITH YOUNG PEOPLE
NEW YORK, N.Y. – AUGUST 24, 2005 – The Hip-Hop Summit Action Network’s 2005 Financial Empowerment National Tour arrived in St. Louis on Saturday, August 20, 2005 at the America’s Center and the long lines out the door revealed how great a desire there was for young people to “get their money right.”
The Hip-Hop Summit Action Network joined forces with its title sponsor Chrysler Financial, presenting sponsor Anheuser-Busch, Inc, media partner KATZ 100.3 The Beat, the St. Louis Urban League and the NAACP to deliver a powerful, informative and inspiring interactive panel discussion. Artists like Nelly (who co-hosted his second Hip-Hop Summit in his hometown of St. Louis), Chingy, Paul Wall, Penelope, industry executives Russell Simmons, Tony Austin and automotive finance experts Chrysler Financial’s Peter Guthrie, James Whitlow and Gerrod Parchmon and Anheuser-Busch executive Johnny Furr shared personal stories of financial empowerment along with enlightening tips and practices to help young people take control of their financial futures.
“Everybody take out your book on financial empowerment,” said Dr. Benjamin Chavis, President/CEO of HSAN, referring to the 88 page workbook given out to participants at each of the Hip-Hop Summits along the tour. “That’s why we’re here.”
“How many people out there really set a budget?” Nelly challenged. “I remember when I was living paycheck to paycheck, and sometimes paycheck to the following two paychecks and having to decide whether this month the heat would be on and we’d have to drive to friends houses to see if they’re home or the telephone would be on and we’d be boiling water,” Nelly emphasized. “You have to have a plan and stick to it. When your homies want you to be hanging out, save your money and stay focused on where you’re going.”
Simmons, Chairman and co-founder of HSAN and a yoga practitioner for 10 years, stressed the importance of putting out into the world what you want to come back to you and how that relates to getting your money right. “It’s all about the work,” Simmons declared. “Nothing is going to fall into your lap. If you want to be a lawyer, see yourself as a lawyer, go to the library and start learning the law. If you want to be a rapper, start rapping and get out there. Live your life as if you already are where you want to go.”
St. Louis native Chingy made reference to his “Chingy For Change” foundation. “We give out scholarships to students who would not normally qualify, but who demonstrate a desire to learn. Our helping students graduate from college allows us to give back to the community.”
And Houston chopped and screwed hip-hop star Paul Wall emphasized the importance of staying in school and getting a college degree for financial success.
Topics addressed at the St. Louis Hip-Hop Summit on Financial Empowerment included basic banking, repairing and understanding credit scores, asset and wealth management, auto financing, home ownership and entrepreneurship.
The St. Louis Hip-Hop Summit on Financial Empowerment was the fifth Summit of the tour, and is part of an unprecedented national campaign to raise awareness among millions of young adults 18-35 about the importance of financial literacy. For the first time, one of the world’s leading financial institutions, Chrysler Financial, has partnered with the Hip-Hop Summit Action Network (HSAN), the nation’s largest non-profit hip-hop organization, to help young people build a solid financial future. Russell Simmons, Chairman of HSAN and William F. Jones, Jr., Vice President of Chrysler Financial have pledged to work together to coordinate this national campaign under the theme “Get Your Money Right.”
Why is this message being received so overwhelmingly by young people around the country? “Young people like to see their heroes as philanthropists and as people interested in social change,” Simmons explained. “You’ve got to get it from your hero, and fortunately, we get the heroes to teach them what they’ve learned.”
About DaimlerChrysler Services North America LLC
The company provides brand-specific financing for automotive dealers’ inventories and their retail consumers and does business as Mercedes-Benz Credit and Chrysler Financial. As DaimlerChrysler Services Truck Finance it also finances commercial vehicles for affiliate products such as Freightliner, Sterling and Western Star. The company serves as the headquarters for operations in the United States, Canada, Mexico, South America and Puerto Rico and has more than 5,800 employees who manage a portfolio of more than $95 billion with nearly five million contracts. DaimlerChrysler Services North America is a member of the DaimlerChrysler Financial Services group of companies. This group is headquartered in Berlin, Germany, and operates in 39 countries with an employee base exceeding 10,800 and a global portfolio of approximately $139 billion. DaimlerChrysler Financial Services group is one of the leading financial services entities worldwide. For more information on DaimlerChrysler Services in the Americas visit www.daimlerchryslerservices.com/na.
Based in St. Louis, Anheuser-Busch Cos., Inc. is the leading American brewer holding 50 percent of the U.S. beer market. The company is American-owned and brews the world’s largest-selling beers, Budweiser and Bud Light Anheuser-Busch ranked first in the U.S. beverage industry in Fortune magazine’s 2005 “America’s Most Admired Companies” and in the top 30 on Fortune’s 2005 “Global Most Admired Companies” list. The company is one of the largest theme park operators in the United States, is a major manufacturer of aluminum cans and is the world’s largest recycler of aluminum beverage containers. For more information, visit www.anheuser-busch.com or www.africanamericanbud.com.
About Hip-Hop Summit Action Network
HSAN is a non-profit, non-partisan national coalition of artists, entertainment industry leaders, education advocates, civil rights proponents and youth leaders united in the belief that the “hip-hop” phenomena is an enormously influential agent for positive social change which must be responsibly and pro-actively utilized to fight the war on poverty and injustice. For more information on the Hip-Hop Summit Action Network, go to www.hsan.org.