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HIP-HOP SUMMIT ACTION NETWORK CO-FOUNDERS CHAIRMAN RUSSELL SIMMONS AND PRESIDENT/CEO DR. BENJAMIN CHAVIS TO RING THE NASDAQ STOCK MARKET OPENING BELL
ORGANIZATION CELEBRATES 5TH ANNIVERSARY
NEW YORK, N.Y. – JUNE 7, 2006 – On June 14, 2006, the Hip-Hop Summit Action Network (HSAN) will celebrate its fifth anniversary by ringing the opening bell of The NASDAQ Stock Market at 9:30am at the NASDAQ MarketSite Location at 4 Times Square in New York City. HSAN co-founders Chairman Russell Simmons and President/CEO Dr. Benjamin Chavis will participate in the honorary Opening Bell ceremony live from the Time Square NASDAQ studio to ring and sign into the market.
The NASDAQ Stock Market is the largest U.S. electronic stock market. With approximately 3,200 companies on the NASDAQ, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology.
The Hip-Hop Summit Action Network is the largest non-profit, worldwide coalition of hip-hop artists and entertainment industry executives who believe that Hip-Hop is an enormously influential agent for positive social change. HSAN is responsible for organizing massive public awareness campaigns around the important issues of financial literacy, community empowerment, youth voter registration and mobilization, public education advocacy and reforming mandatory minimum sentencing laws, among others.
The Hip-Hop Summit Action Network launched a national, two year financial empowerment tour in 2005 with title sponsor Chrysler Financial and presenting sponsor Anheuser-Busch, Inc. Titled “Get Your Money Right,” the 2006 financial literacy and empowerment tour kicked off in Detroit in March. Celebrities and financial experts speak to an audience of 18-35 year olds on the importance of financial literacy, the basics of banking, home ownership, repairing bad credit and understanding credit scores, entrepreneurship, vehicle financing and more. A financial workbook is given to all participants and is available in both English and Spanish.
Russell Simmons emphasized, “On June 14 five years ago, the Hip-Hop Summit Action Network was formed in New York City under the theme of ‘Taking Back Responsibility’ in the hip-hop community. Today, we are ringing the opening bell at The NASDAQ Stock Market as a reaffirmation of our commitment to empower people financially, and to help eradicate poverty and ignorance throughout the world.”
“HSAN understands attainment of financial literacy is a life long process and with their support we have found a way to provide the basics of money management with the ultimate goal of raising the awareness and importance of sound financial habits in summit participants,” said William F. Jones Jr., Vice President – Chrysler Financial. “Artists sharing their personal stories have been an effective teaching method.”
“The Hip-Hop Summit Action Network consistently taps into the consciousness of our youth, providing them with not only knowledge, but tools that will help them prepare for a future in which the decisions they make today will determine the opportunities they have tomorrow,” declared Johnny Furr, Vice President, Urban Marketing and Community Affairs, Anheuser-Busch, Inc. “Anheuser-Busch is proud to continue our partnership with, and support of, the Summits and the Hip-Hop Summit Action Network, which make a real and lasting difference in the lives of young people in communities across the nation.”
Dr. Benjamin Chavis concluded, “As we celebrate the 5th anniversary of the Hip-Hop Summit Action Network as the largest worldwide coalition of hip-hop artists and recording industry executives, we recognize the global financial, social, political and cultural impact of hip-hop. Helping young people take responsibility for transforming the world into a better place for all people is our ultimate goal. HSAN ringing the bell today at NASDAQ is, in reality, ringing a bell for opportunity, freedom and justice for millions of youth who are crying out for a better quality of life. Our current tour on financial literacy is taking the right step at the right time.”
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