Latest news with #SmallBusinessAdministration
New York Post
4 days ago
- Business
- New York Post
The Biden administration secretly stole your data to engineer elections and silence speech
While the Department of Government Efficiency traces the flow of dollars between government and partisan activists, the flow of data may reveal an even deeper menace. The real story of government weaponization can only be told once we reckon with the shadowy data-sharing web secretly used to manipulate elections, punish foes and silence speech — which my new book, 'They're Coming for You,' dares to expose. Without the constitutional authority to collect our financial transactions, our browsing histories or our location data, the Biden administration found a workaround. Federal agencies outsourced unconstitutional data grabs to politically aligned partners. Instead of collecting data directly, they bought or sold it from or exchanged it with nonprofits and tech companies. 5 Author Jason Chaffetz was a House Oversight Committee chairman. Reuters My book exposes three critical fronts where this abuse thrived: election interference, citizen surveillance and the erosion of free speech. The silent manipulation of voters through our data demands urgent scrutiny to protect future elections. While DOGE's budget probes grab headlines, the real scandal is deeper. A Biden executive order forced every federal agency to conduct ostensibly nonpartisan voter-registration drives. Yet the implementation often told a different story. 5 Book The Small Business Administration, for instance, diverted its limited resources toward partisan voter outreach. The agency proactively contacted states, particularly swing states like Arizona and Georgia, to request designations as voter-registration entities, though federal law requires states to make the first move under the National Voter Registration Act. Emails obtained via Freedom of Information Act requests reveal the SBA's focus on liberal voting blocs, including promoting events likely to register Democratic-leaning voters in blue precincts. 'How many events have you run to open small businesses in non-Democratic areas?' one lawmaker asked SBA Associate Administrator for Field Operations Jennifer Kim during a 2024 hearing. Kim didn't answer directly but assured the committee politics played no role in the agency's outreach — a claim the efforts' documented partisan skew contradicts. 5 The Small Business Administration's Jennifer Kim faced questions of agency bias at a 2024 House hearing. YouTube This wasn't random. It was a calculated use of our information, supported by partisan allies, to evade transparency. The result? A voter base quietly reshaped, funded by us but hidden from view. This breach of trust — turning our data into a political tool — undermines democracy itself. My book uncovers this network, revealing how agencies and partners weaponized government services without our knowledge. Voter manipulation is just the opening salvo. The Biden administration unleashed warrantless surveillance to silence dissenters, pressuring financial institutions to flag 'suspicious' transactions and debank opposing voices. This effort ultimately targeted Christian nonprofits, gun makers, conservative protesters — even Melania and Barron Trump — closing their accounts without cause. By buying and sharing information with activist nongovernmental organizations and corporations, financial regulators dodged legal restrictions on government data collection. 5 If this data weaponization goes unchecked, Chaffetz warns, it won't end with the Biden administration. AP This financial chokehold is just the start. President Biden's administration also expanded the National Security Agency's warrantless-surveillance programs to collect bulk data, including phone metadata, browsing histories and emails, bypassing Congress and public transparency. This data net muzzles your voice. Social-media giants Facebook, YouTube and pre-Elon Musk Twitter faced pressure, with the Cybersecurity and Infrastructure Security Agency flagging 859 million tweets as 'misinformation' in 2023, burying 22 million. Among those, many truthful but politically inconvenient facts were buried under labels such as 'Trends blacklist' and 'Do not amplify.' 5 A White House dissent crackdown ensnared Melania and Barron Trump. Getty Images NewsGuard and the Global Disinformation Index, each with documented Biden-adminsitration ties, amplified this bias by assigning conservative outlets disproportionately low reliability ratings. The Federalist, for example, received a NewsGuard failing score of 12.5 out of 100, allegedly for publishing content deemed objectionable to Democrats rather than for spreading inaccurate information. This harsh rating caused advertisers to flee, severely undercutting revenue to conservative outlets that dared tell the truth. By contrast, left-leaning sites such as NPR and The New York Times consistently received top ratings, regardless of their reporting errors, reinforcing their dominance in news visibility and funding. Artificial-intelligence tools, funded by government programs, downranked conservative narratives, ensuring they vanished from searches. YouTube even tweaked algorithms at the feds' behest. Censorship laundering through NGOs masked illegal moves, monitoring posts to crush wrongthink. The stakes couldn't be higher. If this data weaponization goes unchecked, it won't end with Democrats or the Biden administration. History has shown us the erosion of liberties for one group inevitably sets the stage for broader abuses. Today, it's conservatives being silenced; tomorrow, it might be anyone who dissents. But there's hope. Sunlight is the best disinfectant, and Americans of all political stripes should demand transparency and accountability from their government and its partners. Whether through boycotts, lawsuits or investigators like DOGE, there are ways to fight back. Free speech and an open exchange of ideas define our democracy. When those in power suppress dissent, they betray not just their critics but the Constitution itself. 'They're Coming for You' is a first step in exposing this corruption. But the responsibility to stop it falls on us all. Stand for truth. Demand accountability. And above all, protect the freedoms that make America a beacon of liberty. Fox News contributor Jason Chaffetz is a former House Oversight Committee chairman.
UPI
5 days ago
- Business
- UPI
Musk's brain-computer interface company sought 'disadvantaged' status
Elon Musk's Neuralink company reportedly claimed to be a "small disadvantaged business" in a filing with the Small Business Administration shortly before investors valued the company in the billions of dollars. File Photo by Francis Chung/UPI | License Photo July 18 (UPI) -- Elon Musk's brain-implant company, Neuralink, which helps paralyzed people regain some independence, allegedly claimed "small disadvantaged business" status in a filing with the Small Business Administration earlier this year. The filing was made just weeks before the company received a valuation of $9 billion in June in a funding round aimed at making the tech available to more patients and developing new interfaces that "deepen the connection between biological and artificial intelligence." SDB status, the eligibility for which is majority ownership and control by one or more "disadvantaged" individuals who are "socially disadvantaged and economically disadvantaged," can make it easier to secure government contracts. The Code of Federal Regulations further requires that the ability of the disadvantaged owners to compete in the free market was "impaired due to diminished capital and credit opportunities as compared to others in the same or similar line of business who are not socially disadvantaged." None of these criteria appear applicable to Musk, a white male, Anglican, with a net worth of $404 billion and a track record of building highly successful multi-billion-dollar companies, according to MuskWatch. The federal government hands out contracts to SDB's worth $50 billion every year, MuskWatch says the designation provides a significant advantage to companies seeking a share of the pie, as well as prominence in listings in the SBA's business search directories and other government databases. No federal funding has been passed to Neuralink, although it may have tendered for government contracts or applied for grants, loans or alternative forms of financial help in the past. The filing April 24 coincided with the perios during which Musk was downsizing government departments and agencies in his role as head of the Trump administration's Department of Government Efficiency, where he placed particular emphasis on attacking diversity, equality and inclusion programs and the staff who administered them. The filing, which is self-certified, was signed by Neuralink executives. Neuralink executive Jared Birchall, who is named on the filing as the company's contact person, didn't immediately respond to a request for comment. Government contractors who wrongly claimed SDB status or misrepresented the nature of their companies in their profiles in government business directories have been the subject of Justice Department prosecutions, resulting in imprisonment and/or hefty fines.
The Hill
12-07-2025
- Business
- The Hill
Unlock America's hidden entrepreneurs: Congress must pass the New Start Act now
When I think about entrepreneurship, I think about resilience. I think about people who see opportunity where others see obstacles — who transform challenges into innovation and refuse to let circumstances define their future. That's why I urge Congress to pass the New Start Act: legislation that recognizes a truth too many overlook — some of America's most promising entrepreneurs are sitting behind bars. Sens. Ed Markey (D-Mass.) and Cory Booker (D-N.J.) have introduced groundbreaking legislation to create a five-year pilot program through the Small Business Administration. It would award grants of $100,000 to $500,000 annually to organizations training currently and formerly incarcerated individuals in entrepreneurship. This isn't just smart policy — it's an essential economic strategy. This approach works because it addresses both immediate needs and long-term potential. Technology training programs across the country are proving that individuals impacted by the justice system can excel in accessible, high-demand fields — from building responsive websites and integrating AI tools into software applications to managing data analytics projects — when given proper support and opportunity. The results speak for themselves. Programs nationwide are achieving strong employment outcomes and significantly reduced recidivism rates. Graduates earn competitive starting salaries while saving taxpayers thousands annually by avoiding reincarceration. But here's what the data doesn't capture: the entrepreneurial spirit we see every day. Take Rachael. She survived an unstable childhood, an abusive marriage, addiction and two periods of incarceration. Through a technology training program, she didn't just learn to code — she learned to believe in herself. Today, she's thriving as a software developer while rebuilding relationships with her children. 'I can honestly say I'm legitimately happy,' she told us recently. That transformation happened because someone recognized her potential — not just her past. The New Start Act acknowledges what forward-thinking leaders already know: necessity breeds innovation. Research consistently shows that individuals with justice system involvement make excellent employees and entrepreneurs. According to the Society for Human Resource Management, 81 percent of managers report these employees perform as well or better than peers without criminal records. A RAND Corporation study found that individuals participating in correctional education programs were 43 percent less likely to return to prison and significantly more likely to find employment. This bill addresses a massive economic gap. The U.S. spends approximately $80 billion annually on incarceration, yet faces a massive shortage of skilled workers. Meanwhile, over 626,000 people are released from prison each year — and formerly incarcerated people face unemployment rates exceeding 27 percent, far higher than the general population. The Center for Economic and Policy Research estimates $87 billion in annual GDP is lost when people with justice system involvement are excluded from the workforce. Entrepreneurship is especially powerful because it bypasses the employment discrimination that formerly incarcerated individuals often face. When someone can't get hired because of their background, they can create their own opportunity — and hire others along the way. With skills in web development, software programming or data analytics, they can become job creators, not just job seekers. But this isn't just about individual redemption. It's about breaking intergenerational cycles. Research published by Child Trends shows that more than 5 million children have experienced parental incarceration, affecting families across generations. When we invest in parents' economic mobility, we change the future for entire families. The business case is undeniable. Organizations recognize that entrepreneurship among returning citizens reduces recidivism, creates jobs and strengthens communities. As Jeffrey Korzenik demonstrates in 'Untapped Talent: How Second Chance Hiring Works for Your Business and the Community,' when formerly incarcerated individuals build businesses, they create jobs for others, generate tax revenue and reduce recidivism-related costs borne by all taxpayers. Critics may ask whether taxpayers should fund entrepreneurship training for people who've made mistakes. But the alternative is clear: continue spending $35,000-$70,000 per person per year on incarceration, or invest in programs that unlock human potential and grow the economy. The math is simple. The moral imperative is clear. I've seen what's possible when we stop punishing potential and start investing in it. I've watched people go from tax burdens to taxpayers, from perceived risks to real community assets. The New Start Act would bring that transformation to scale. Congress has an opportunity to move beyond rhetoric and enact real change. The New Start Act doesn't just offer second chances — it creates first opportunities for people to build the futures they've always deserved. America has always been the land of second chances and self-made success. The New Start Act reflects both values. It's time for Congress to pass it — and unlock the entrepreneurial potential that exists in every person, even behind bars. Mary Graham, CEO of Persevere, leads a nonprofit providing technology workforce development to individuals with justice system involvement across six states, applying her 25+ years of workforce development experience to achieve recidivism rates under 3 percent and place 87 percent of graduates in employment within six months of release.
Yahoo
26-06-2025
- Business
- Yahoo
Byline Bancorp (BY): Buy, Sell, or Hold Post Q1 Earnings?
Over the past six months, Byline Bancorp's shares (currently trading at $25.74) have posted a disappointing 12.4% loss while the S&P 500 was flat. This may have investors wondering how to approach the situation. Following the pullback, is this a buying opportunity for BY? Find out in our full research report, it's free. Ranking as the fifth most active Small Business Administration lender in the country, Byline Bancorp (NYSE:BY) is a Chicago-based bank that provides banking services to small and medium-sized businesses, commercial real estate developers, and consumers. While banks generate revenue from multiple sources, investors view net interest income as the cornerstone - its predictable, recurring characteristics stand in sharp contrast to the volatility of non-interest income. Byline Bancorp's net interest income has grown at a 12.5% annualized rate over the last four years, better than the broader bank industry. Its growth was driven by an increase in its net interest margin, which represents how much a bank earns in relation to its outstanding loans, as its loan book shrank throughout that period. Analyzing the long-term change in earnings per share (EPS) shows whether a company's incremental sales were profitable – for example, revenue could be inflated through excessive spending on advertising and promotions. Byline Bancorp's EPS grew at an astounding 15.4% compounded annual growth rate over the last five years, higher than its 8.5% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded. Topline growth alone doesn't tell the complete story - the profitability of that growth shapes actual earnings impact. Banks track this dynamic through efficiency ratios, which compare non-interest expenses such as personnel, rent, IT, and marketing costs to total revenue streams. Markets understand that a bank's expense base depends on its revenue mix and what mostly drives share price performance is the change in this ratio, rather than its absolute value. It's somewhat counterintuitive, but a lower efficiency ratio is better. For the next 12 months, Wall Street expects Byline Bancorp to become less profitable as it anticipates an efficiency ratio of 53.7% compared to 52.3% over the past year. Byline Bancorp's positive characteristics outweigh the negatives. After the recent drawdown, the stock trades at 1× forward P/B (or $25.74 per share). Is now a good time to buy? See for yourself in our in-depth research report, it's free. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today. Effettua l'accesso per consultare il tuo portafoglio
Indianapolis Star
24-06-2025
- Business
- Indianapolis Star
See U.S. Administrator visit Indy to support Trump's 'Big Beautiful Bill' at Olsen Custom Designs
Watch U.S Administrator of the Small Business Administration Kelly Loeffler supports President Trump's "Big Beautiful Bill" on Tuesday, June 24, 2025, as she visits a Contract Manufacturer in Indianapolis. Adin Parks
