New Philanthropic Organization Focuses On Saving American Jobs

Oct. 27, 2011 - PRLog -- Atlanta, GA - The Saving American Jobs Foundation, dedicated to saving and creating private sector American jobs, announces its  formation.  The Foundation, a non-profit organization, will save and create jobs by providing junior loans of between $100,000 and $1,000,000 to small- and middle-market companies that are financially struggling due to capital and market constraints.

“Across America millions of jobs are at risk due to cutbacks and bankruptcies,” states Jim Childs, the foundation’s President and CEO. “The potential costs to our society are staggering.  The reduction in wages and the resulting loss of local, state and federal tax revenues are in the billions of dollars.  And the human costs to employees, their families, and their communities are enormous.”

Thousands of small- to middle-market companies are at risk of defaulting on their bank loans, creating tremendous risk to their employees.  Working with banks and other financial institutions, the Foundation will provide junior subordinated debt to increase the struggling company’s tangible net worth and cash liquidity for operations, strengthen its capital structure and help support its financial covenant compliance.  This will allow the company to continue operating and providing jobs.

The initial management team for the Foundation include:

President & CEO: James E. Childs Jr.
Leading the team, with over 30 yrs experience and    $1 billion in asset based, bank and structured lending transactions to small- and middle-market companies, Mr. Childs  will build a team of   highly qualified lenders to develop, evaluate and manage Client relationships.

V.P. – Organizational Development:   Ken Tanner
A nationally recognized expert on recruiting, employee retention and career development and author of five business and career books, Mr. Tanner will build the infrastructure and H.R. resources for both the Foundation and its Clients.

Director: Richard Friedman
A former executive and officer of public and private telecommunication, healthcare and manufacturing businesses with a deep knowledge of board, corporate compliance, internal controls, risk management and HR issues.

Director: Mikel Parker
President and former Director of Operations of two    California healthcare companies, with more than 10 years of previous experience in the investment banking and lending industries, Mr. Parker brings in-depth operational and capital experience to the board.

“The Saving American Jobs Foundation is a cost effective way to save private sector American jobs,” Childs asserts.  According to Childs, the Foundation will be able to save jobs for less than $10,000 per job.  The Foundation will reach out to large corporations, financial institutions, foundations, family offices, and government units to fund up to $250 million.  According to Childs this money will support a minimum of 25,000 jobs and $1.25 billion in wages.


 For further information contact
                                                                                               Jim Childs,   770.298.7129
                                                                                               Ken Tanner, 404.492.4513