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MICHAEL GOODEN AND OTHER BLACK BUSINESSPEOPLE STATE THEIR CASE
ast fall, when Congressional Black Caucus (CBC) chair Emmanuel Cleaver sent an invi- tation to C. Michael Gooden to join a group of Black businesspeople to meet with President Obama to discuss issues that impact Black-owned businesses, the former Navy officer may have been tempted to snap to attention.
The Next Level L
MEETING PRESIDENT BARACK OBAMA
Gooden is the co-founder, CEO and chairman of Integrated Systems Analysts Inc. (ISA). The 31-year-old Alexandria, Va.-based firm provides a variety of engineer- ing, scientific, technical management, computer support services and a full range of IT services including staffing. Eighty percent of ISA’s business is commercial and 20 percent federal. On Dec. 4, 2011, Gooden and 11 other leaders met for an hour with Obama for a discussion led by CBC Chair Cleaver. The businesspeople that came from the hospitality, investment, technology and contracting sectors included Janice Howroyd, CEO of Act-1, a $1.4 billion staffing service; Robert L. Johnson, chairman of The RLJ Companies; and Maurice Tose, CEO, TeleCom- munications Systems, Inc.
Raising Capital Obama opened the meeting speaking about The
American Jobs Act, its assistance to small business, and putting people back to work. He asked the gathered lead- ers what ideas they had that may benefit the nation and the Black community. Gooden’s focus was on how the government could assist small and minority firms gain greater access to capital, and support for their cash flow. “The president replied that he was ready to help if we came up with ways that did not require legislation,” said Gooden. Gooden, 65, expanded upon the public and private sector issues for Obama. A key difficulty, Gooden said, was that minority businesses in the Small Business Administration 8(a) Business Development Program, as well as firms performing under Section 8(d), that sell goods and services to the federal government have a specific hurdle raising capital. Imagine, Gooden told the president, that the CEO of a $24 million firm, which would be considered a small business, needs $5 million in working capital to sustain ongoing business opera- tions. The CEO requests a $5 million loan, but 8(a) rules prohibit
www.blackengineer.com
by Frank McCoy
fmccoy@ccgmag.com
C. Michael Gooden Co-founder, CEO and chairman, Integrated Systems Analysts Inc.
her from having a net worth (total assets minus total outside liabilities) above $750,000, excluding interest in a primary resi- dence or the business. The bank rejects the request. In the 21st Century, the Youngstown, Ohio, native said that the net worth cap, in place for about 20 years, should be raised. In response, Obama requested that one of his advisers make an appointment to discuss this issue with SBA senior officials.
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