Lanterna Rally

Author: United States; Congress; Senate; Committee on Small Business

Publisher: Forgotten Books

Published: 2015-06-15

Total Pages: 85

ISBN-13: 9781330300268

Excerpt from Hearing on Investment in Critical Technologies Through the Small Business Administration's Existing Financing Programs The Committee met, pursuant to notice, at 10:37 a.m., in room SR-428A, Russell Senate Office Building, Hon. Dale Bumpers, Chairman of the Committee, presiding. Opening Statement Of Hon. Dale Bumpers, A U.S. Senator From The State Of Arkansas The Chairman. Good morning. First, I want to apologize for my lateness in arriving here. It is just a classic case of what always happens here when you have two very important Committee assignments at the same time. It is not unusual, and if anything the situation grows worse. In order to make up for a little lost time, I will insert my opening statement in the record, and we will go straight to our witnesses. [The prepared statement of Senator Bumpers follows:] Prepared Statement of Senator Dale Bumpers The Small Business Committee today considers the nature and extent of small business investment in technologies which are critical to the Nation's future economic competitiveness. Included in our review will be financing of technology companies by the Small Business Administration and by Small Business Investment Companies licensed by SBA. The Committee is concerned about legislation recently reported by the Senate Commerce Committee, S. 4, which appears to overlap, if not duplicate, the existing SBIC program. It goes without saying that the world economy at the end of the Twentieth Century is almost unimaginably different than that of even a half-century earlier. We must expect the pace of technological change to continue, and we in Congress must help foster the ability of American firms to compete in this rapidly changing world. The cost and availability of capital is as critical for technology ventures as it is for small business generally. That issue is hardly new to this Committee, and it seems to be very much on the mind of President Clinton. For two years we held extensive hearings into the Small Business Investment Company program, which has produced some of America's most spectacular economic successes as well as few notable losses. These hearings, as well as assessments of the program done by outside experts, culminated last year in the passage of H.R. 5191, the Small Business Equity Enhancement Act of 1992, which was signed by President Bush on September 4, 1992, as Public Law 102-366. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.