FOR IMMEDIATE RELEASE
Contact: Jody Miller, JLM PR Inc., 212-431-5227
Chrysler Financial, Amber Gowen
Hip-Hop Summit Action Network, Chrysler Financial and Anheuser-Busch, Inc. Empower Detroit Youth with Financial Message: Get Your Money Right
- The Power of Hip-Hop Helps Educate Youth
- Continuation of Hip-Hop Summits in April in Celebration of Financial Literacy Month
- MoneySmart Week in Detroit April 22-29
Detroit – On March 25th, the Hip-Hop Summit Action Network (HSAN), title sponsor Chrysler Financial and presenting sponsor Anheuser-Busch, Inc. kicked off the first date of the national Hip-Hop Summit Financial Empowerment Tour: “Get Your Money Right” in Detroit to a standing room only house at Wayne State University’s Bonstelle Theatre. This is the second year Chrysler Financial is involved with the Summit as the title sponsor as it volunteers its financial expertise to the partnership with HSAN.
HSAN Chairman Russell Simmons, Baby Phat CEO/founder Kimora Lee Simmons, Academy Award winner Three 6 Mafia, reggaeton superstar Don Omar, MC Lyte, HSAN President/CEO and Summit co-moderator Dr Benjamin Chavis, Summit co-moderator Doug E. Fresh, Shady Records’ Obie Trice, Stat Quo, and Bobby Creekwater, Spudd from Detroit’s Hot 102.7FM and Chrysler Financial’s experts James Whitlow and Gerrod Parchmon came together to teach the 18-35 year old audience about financial literacy.
“Music in the 1960s was a force that moved and inspired us. Hip-hop is also a platform for change and Chrysler Financial recognizes the power of hip-hop culture,” said Klaus Entenmann, President and CEO — DaimlerChrysler Financial Services Americas.
Attendees actively participated in the Summit by working in the “Get Your Money Right” workbook. Topics discussed included: FICO, basics of banking, repairing and understanding credit scores, asset and wealth management, vehicle financing and home ownership. The workbook was co-written by HSAN, Chrysler Financial, as well as other outside support and printed in both Spanish and English for 2006.
Russell Simmons offered this encouragement, “Before you make a decision to invest in yourself, start by giving yourself the opportunity,” he emphasized. “Envision it and then work hard at what you want to get.”
The Three 6 Mafia stars – DJ Paul, Juicy J and Crunchy Black – who have elevated hip-hop with their Academy Award win and performance, had this advice to give, “Pay your taxes, save your money, watch who you hang around with. Trust and believe in yourself.”
Representative John Conyers, Jr. of Detroit, now in his 20th term in the U.S. House of Representatives, attended and spoke in support of the event. Conyers, a strong supporter of financial literacy initiatives, also supports financial literacy through his involvement in MoneySmart Week, April 22-29, in Michigan.
MoneySmart Week is a partnership between the Federal Reserve Bank of Chicago – Detroit Branch and the MoneySmart Week Advisory Council. Chrysler Financial has been an active member on the council since its inception in 2004.
In honor of HSAN’s 5th anniversary, the next Hip-Hop Summit on Financial Empowerment will be April 22 in New York City, the first Hip-Hop Summit there since the very first Summit in June of 2001. This year’s “Get Your Money Right” tour includes stops that coincide with the college school year schedule on May 20 in Miami, September 16 in Atlanta, September 30 in Los Angeles and October 14 in Dallas.
Shown here from left to right are: (back row) Dr. Benjamin Chavis; John Huffman (CEO of Real Hip Hop and Bullyvision); Minister Dawud Muhammad of the Nation of Islam; Russell Simmons; Kimora Lee Simmons; Bobby Creekwater; James Whitlow; Gerrod Parchmon; Spudd; Doug E. Fresh. (front row) Obie Trice; MC Lyte; Cecilia Zavala-Cantu (Director of Urban Arts Academy of the Detroit Hispanic Development Association) and Stat Quo.
Additional information and news from DaimlerChrysler is available on the Internet at: www.media.daimlerchrysler.com. For additional information on HSAN visit www.hsan.org.