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Chrysler Financial and the Congressional Black Caucus Foundation have formed a three-year partnership to provide financial education to college students at historically black colleges and universities.
“We’re excited because this partnership allows us to enhance the work we were doing in other programs like SHOP for Wealth,” says Dr. Elsie Scott, interim president and CEO of the foundation. One prime objective of the program is to reduce the number of students that graduate with high debt and poor credit scores.
AROUND THE NATION
Godfather Of Soul Singing To The Judge
James Brown’s investment banker says the “Godfather of Soul,” has to pay to be the boss of his royalties.
David Pullman of New York-based Pullman Group L.L.C. is suing Brown in New York state court for breach of contract. Brown is countersuing. No trial date had been set by press time.
Back in 1999, Brown obtained $26 million when Pullman packaged his future music royalties into corporate bonds. In July, Brown tried to refinance his bond deal for $25 million through the Royal Bank of Scotland. But Pullman blocked the loan saying he owns the rights. He would want “eight figures” to release them, he says.
Industry insiders say that Pullman is known for structuring faulty deals that strip artists of their money and their rights. Pullman maintains that Brown’s law firm, Greenberg Traurig L.L.P., “screwed up” by misinterpreting the initial bond agreement. “Poor James,” Pullman says. “I think he has a good claim against his attorneys.”
— Tony Chapelle