Suggestions For Improving Ares Of Motion

916 WordsApr 7, 20154 Pages
To: Anthony Ressler From: Jiefu Luo Date: March 31, 2015 Subject: Suggestions for improving Ares in Motion (A.I.M.) Initiative Dear Mr. Ressler, Aimed at promoting employee engagement and community relationships, Ares Management LP launched “Ares in Motion” (A.I.M.) as a global corporate social responsibility campaign in 2011. The program, although well received among participants, lacks a focus that would enable it to create lasting social impact. Studies have shown that the overwhelming majority of Americans lacks proper skills to manage their finances. And the distribution of those Americans skews heavily to the lower income population. According to a St. Louis Federal Reserve research, US household debt to GDP in 2014 was as high as 79%. And household debt as a percentage of disposable income looks even bleaker, with the 2013 number being over 102%. This means, in 2013, an average American borrowed over 102 dollars for every 100 dollars he or she made. Further exacerbating the situation is the rapidly growing income inequality that created a long-term systematic threat to social stability. Given the severity of the underlining economic issues, Ares should help alleviate the above mentioned problems as a responsible member of the society. Therefore, I propose that, instead of spreading out its efforts, the firm concentrates resources on promoting of financial literacy to lower income families through launching an educational website. Summary of current

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