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Students Celebrated, Awarded Scholarships for Completing Financial Education Program Aimed at Closing Racial Wealth Gap

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Students Celebrated, Awarded Scholarships for Completing Financial Education Program Aimed at Closing Racial Wealth Gap

By Tracy Correa Lopez

Two dozen high school seniors, predominantly from Oakland, gave up their Saturday mornings the past six months to spend time in a classroom on the campus of UC Berkeley learning about personal finance, investing and wealth creation.

This past Saturday (Feb. 10), they wrapped up their final class and in a celebration before family and friends received certificates for completing the Economic Equity and Financial Education Program. Each student also earned an $8,000 college scholarship from PG&E and The PG&E Corporation Foundation (PG&E Foundation) to help them invest in their education.

This is now the second class of students to successfully complete this unique academic program that accepted its first cohort in fall 2022. Three quarters of this year’s graduating class are female and most of the students are Black.

One of the students is 17-year-old Erikah Washington, a student at Bishop O’Dowd High School in Oakland, who said she was grateful for what she learned.

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“Through this program I have gained so much confidence and no longer view finances as something scary. With the knowledge obtained from the program I know I will make good financial decisions moving forward,” she said.

PG&E’s Jimi Harris with student Daisy Fountaine, one of the recent program graduates.

PG&E created the program after two years of planning as a racial justice initiative following the George Floyd tragedy to help address economic challenges faced by African Americans. PG&E and The PG&E Foundation provided more than $500,000 in funding through its community charitable Better Together Giving Program to the program each year. This program is one of several funded by PG&E and The PG&E Foundation that provide support and scholarships to students throughout PG&E’s service area as they pursue their higher education goals. Funding for the comes from PG&E shareholders, not PG&E customers.

Together, they partnered with the Haas School of Business at the University of California, Berkeley and Berkeley Executive Education, Mills College at Northeastern University, and Amenti Capital Group for the program that helped prepare the students from Oakland and the Greater Bay Area for future both financial success and academic leadership. 

Students took courses taught by Haas professors and financial industry professionals on topics including personal finance, capital markets and wealth creation, financial data analysis and investments — topics foreign to most of the teens. African American Haas undergraduates also served as mentors to the students.

After launching in late 2022, the program saw its first 24-student graduate in May of 2023. Otis Ward was one of them and he shared his journey in the PG&E short film “Change the System: Building Black Wealth.” Ward is currently studying computer science and engineering at Stanford University.

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On Saturday, 24 more students were celebrated.

PG&E’s Vincent Davis, senior vice president of Customer Experience, stressed to the students the importance of education and never giving up.

Speakers included those who taught the students, like Panos Patatoukas from Haas School of Business and Jason Miles, an African American venture capitalist with more than 25 years of experience in the financial services industry and founder of Amenti Capital Group. They commended the students and talked about what they could achieve.

Hard facts were also flashed on a screen during the event, including: “In 2022, the median Black household had a net worth of $44,900, less than 15% of the median net worth of white households at $285,000” and, “The wealth gap was roughly the same in 2016 as it was in 1962, two years before the Civil Rights Act was enacted.” It was to remind the students of why what they learned was important to make a change.

PG&E’s Vincent Davis, senior vice president of Customer Experience, was one of the speakers at the graduation. He stressed the importance of education, talked about his early career as an accountant and overcoming self-doubt to find success.

After the event, he said he was impressed by the students and optimistic at what they could accomplish.

“My intentions were to inspire and support them. As good fortune would have it, I was also inspired because I saw firsthand the endless possibilities of their bright futures,” said Davis.

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The program was conceived by PG&E Community Relations Chief Jimi Harris, also one of the graduation speakers. He said it was exciting to see another class of students complete the program and “to partner with a premier academic institution like the University of California at Berkley to provide this opportunity to these exceptional young scholars.”

He said he was proud to see another group of students complete the program and gain critical knowledge and hoped the program could encourage similar curriculum in schools.

Said Harris: “I am confident that this program will help set these students up for success with their future academic and financial endeavors. Additionally, there is a growing demand for financial education to be more broadly available for students in California, and hopefully this program will serve as a model to create more access to this type of educational content.”

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Finance

Departing inspector general targets Council Office of Financial Analysis

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Departing inspector general targets Council Office of Financial Analysis

The $537,000-a-year office created in 2014 to advise the City Council on financial issues and avoid a repeat of the parking meter fiasco has failed to deliver on that mission, the city’s chief watchdog said Tuesday.

Days before concluding her four-year term, Inspector General Deborah Witzburg said a shortage of both adequate staff and financial information closely held by the mayor’s office prevents the Council’s Office of Financial Analysis from helping the Council be the the “co-equal branch of government” it aspires to be.

In a budget rebellion not seen since “Council Wars” in the 1980s, a majority of alderpersons led by conservative and moderate Democrats rejected Mayor Brandon Johnson’s corporate head tax and approved an alternative budget, including several revenue-generating items the mayor’s office adamantly opposed.

But Witzburg said the renegades would have been in an even better position to challenge Johnson if only their financial analysis office had been “equipped and positioned to do what it’s supposed to do” — provide the Council with “objective, independent financial analysis.”

“We are entering new territory where the City Council is asserting new, independent authority over the budget process. It can’t do that in a meaningful way without its own access to financial analysis,” Witzburg told the Chicago Sun-Times.

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Chicago Inspector General Deborah Witzburg’s latest report focuses on the Chicago City Council’s Office of Financial Analysis.

Jim Vondruska/Jim Vondruska/For the Sun-Times

But the Council’s financial analysis office, she added, “has never been equipped or positioned to do what it needs to do. It needs better and more independent access to data, and it needs enough staff to do its job. It has a small number of employees and comparatively limited access to data.”

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The inspector general’s farewell audit examined the period from 2015 through 2023. During that time, the financial analysis office budget authorized “either three or four” full-time employees. It now has a staff of five .

Witzburg is recommending a staffing analysis to identify how many people the financial office really needs — and also recommending that the office “get data directly” from other city departments, “ rather than having it go through the mayor’s office.”

The audit further recommends that the office develop “better procedures to meet their reporting requirements” in a timely manner. As it stands now, reports are delivered “sometimes late, sometimes not at all,” the inspector general said.

“We find that those reports have been both not timely and not complete in terms of what they are required to report on and that those reports therefore have provided limited assistance to the City Council in its responsibility to make decisions about the city’s budget,” she said.

The Council Office of Financial Analysis responded to the audit by saying it hopes to add at least three full-time staffers in the short term and has made “some progress” over the last three years in improving their access to data, but not enough.

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The office was created in 2014 to provide Council members with expert advice on fiscal issues.

For nearly two years the reform was stuck in the mud over whether former 46th Ward Ald. Helen Shiller had the independence and policy expertise to lead the office.

Shiller ultimately withdrew her name, but the office was a bust nevertheless. In an attempt to breathe new life into it, sponsors pushed through a series of changes.

Instead of allowing the Budget chair alone to request a financial analysis on a proposal impacting the city budget, any alderperson was allowed to make that request.

The office was further required to produce activity reports quarterly, not just annually.

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Now former-Budget Chair Pat Dowell (3rd) then chose Kenneth Williams Sr., a former analyst for the office, as director and gave him the “autonomy” the ordinance demanded.

Two years ago, a bizarre standoff developed in the office.

Budget Committee Chair Jason Ervin (28th) was empowered to dump Williams after Williams refused to leave to make way for a director of Ervin’s own choosing.

The standoff began when Williams said he was summoned to Ervin’s office and told the newly appointed Budget chair was “going in a different direction, and I’m putting you on administrative leave” with pay.

“He took all my credentials and access away. I would love to come to work. I wasn’t allowed to come to work,” Williams said then.

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Williams collected a paycheck for doing nothing while serving out the final days remainder of a four-year term.

Ervin’s resolution stated the director “may be removed at any time with or without cause by a two-thirds” vote or 34 alderpersons. He chose Janice Oda-Gray, who remains chief administrator.

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Finance

Reilly Barnes Returns to Little League® as Purchasing/Finance Assistant

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Reilly Barnes Returns to Little League® as Purchasing/Finance Assistant

Little League® International has announced that Reilly Barnes accepted a new role as Purchasing/Finance Assistant, effective April 6, 2026. Barnes transitions from a temporary Purchasing Assistant to this full-time position to assist in the year-round demands of purchasing for the organization, as well as the region and Little League Baseball and Softball World Series tournaments. 

“We are thrilled to welcome back Reilly to our team as a full-time Purchasing/Finance Assistant. Reilly’s prior experience, time management, and attention to detail make him an invaluable asset to the purchasing team,” said Nancy Grove, Little League Materials Management Director. “We look forward to the positive contributions he will have on our organization.” 

In this role, Barnes will be responsible for processing purchase requisitions, coordinating souvenir products, and tracking order fulfillment. He will also assist with evaluating suppliers, reviewing product quality, and negotiating contracts for effective operations.  

After most recently working as a Logistician Analyst at Precision Air in Charleston, South Carolina, Barnes, a Williamsport native, returns after honing his skills in the fast-paced environment. Prior to his time at Precision Air, Barnes served as a Procurement Specialist at The Medical University of South Carolina, where his expertise and knowledge were instrumental in supporting both education and healthcare needs.  

“I am thrilled to return to Little League in this full-time role,” said Barnes. “Coming back to my hometown and having the opportunity to work for an organization that has played such a special part of my upbringing means a lot. I can’t wait begin this new opportunity.” 

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Barnes graduated from the University of Pittsburgh in 2022 with a B.A. in Supply Chain Management, Finance, and Business Analytics.  

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Finance

Why this sleepy Swiss town has become a ‘bolt-hole’ for the Gulf elite

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Why this sleepy Swiss town has become a ‘bolt-hole’ for the Gulf elite

As conflict continues to destabilise the Middle East, the Gulf States elite are seeking solace in European alternatives that offer comparable financial benefits with a far lower risk of war on the doorstep. One such destination is the small Swiss town of Zug, which is becoming a “bolt-hole” for Gulf-based wealth, said the Financial Times.

‘Swiss Monaco’

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