Posted by: Audiegrl
President Barack Obama named Ann Fudge, the former chief executive officer of Young & Rubicam Brands, to the bipartisan National Commission on Fiscal Responsibility and Reform. David Cote, Alice Rivlin, and Andy Stern were also named to the committee, which will be co-chaired by former White House Chief of Staff Erskine Bowles and former Republican Senate Whip Alan Simpson.
The committee will make recommendations to Congress by Dec. 1 to put the budget in primary balance so that all operations and programs for the federal government are paid for by 2015 and to improve the long-term fiscal outlook, the White House said in a statement. The total federal debt next year is expected to exceed $14 trillion — about $47,000 for every U.S. resident.
Fudge, 58, was a Black Enterprise Women of Power Summit Legacy Award winner in 2008 and was named to the Black Enterprise 50 Most Powerful Black Women in Business list in 2006. As head of Y&R and Young and Rubicam Brands, Fudge managed a marketing powerhouse that included Y&R advertising, Burson-Marsteller public relations, Wunderman direct and database marketing, and Sudler & Hennessey healthcare communications. In previous jobs, she developed a 20-year track record of strengthening household brands such as Maxwell House Coffee, Kool-Aid, and Jell-O. Fudge serves on General Electric’s board of directors, the Harvard Board of Overseers, and as a trustee of the Brookings Institution. She has served on the boards of the Gates Foundation, the Rockefeller Foundation, and the Boys and Girls Clubs of America.
HuffingtonPost/Arthur Delaney—Two weeks ago, Ann Minch of Red Bluff, Calif. announced in a YouTube video that she’d launched a one-woman “Debtors’ Revolt” and would refuse to pay off her credit card balance after an unfair interest-rate hike. Now, after her video made a huge splash, Bank of America has agreed to reduce her rate.
Minch said in a video posted Saturday that a Bank of America executive contacted her on Friday.
“He asked me to talk a little about my personal financial situation so we can negotiate some kind of agreement in regard to my existing credit card account,” she said. The executive “tried to get me to agree to 16.99 percent and I said, ‘No, nope, I believe because you guys are getting your money from the Fed at zero percent interest… that 12.99 percent is a more than generous profit margin for you guys.’ So he did finally agree to that and he also agreed to send me that in writing.”
Watch Ms. Minch talk about her victory…