Aída Álvarez
Encyclopedia
Aída M. Álvarez is the first Hispanic
woman and Puerto Rican
to hold a United States Cabinet
-level position.
into a family of modest economical means, who despite their hardships always encouraged her to pursue her dreams. After she received her primary education in Puerto Rico, her family moved to New York City
in hopes of improving their economic situation. In New York, she attended high school and participated in a program called "ASPIRA". "ASPIRA" was founded by Dr. Antonia Pantoja
and has helped disadvantaged children, especially girls, gain the leadership skills and knowledge required to go to college.
Álvarez applied and was accepted at Harvard University
where in 1971 she earned her Bachelors of Arts degree grauduating Cum Laude. During her student years many people provided her with support.
for the New York Post
and won a "Front Page Award". She later became a news reporter and anchor
for Metromedia Television (Channel Five) also in New York. In 1982, she won an Associated Press
Award for Excellence and she was nominated for an Emmy Award
for her reporting of guerilla activities in El Salvador
.
Álvarez ventured into the banking business by becoming an investment banker at the First Boston Corporation and at Bear Stearns
. As a public servant, she spent two years at the NYC Health and Hospitals Corp. She was also a commissioner on the New York City Charter Revision Commission and a member of the Mayor's (NYC) Committee on Appointments. On June 1993, Álvarez was named Director of the Office of Federal Housing Enterprise Oversight. She created a financial safety and soundness oversight program for Fannie Mae and Freddie Mac.
, Administrator of the Small Business Administration
, thus becoming the first Hispanic woman and Puerto Rican to serve as an executive officer in the U.S. Cabinet. She directed the delivery of a comprehensive set of financial and business development programs for American
small businesses. The agency provided financing worth eleven billion dollars a year to small businesses across the nation.
In 2000, Álvarez was elected to the Board of Overseers of Harvard University. Her role is to visit the graduate schools, departments and museums of the University to ensure that the University remains true to its Charter as a place of learning. She also serves on the National Trust for Historic Preservation; the Coalition for Supportive Housing and is on the Board of Trustees of the Latino Community Foundation.
During the 2004 Presidential Election
, Álvarez was named official spokeswoman for Senator John Kerry
. Álvarez had met Kerry during her days as the Small Business Administration administrator. She became familiar with his work in the U.S. Senate for small business development. As of January 2008, Alvarez sits on the board of directors for Wal-Mart
.
Álvarez has been featured in many magazines, among them "Latina Style" and is featured in the book "Hard Won Wisdom" by Fawn Gerner, where she is quoted as saying
Hispanic
Hispanic is a term that originally denoted a relationship to Hispania, which is to say the Iberian Peninsula: Andorra, Gibraltar, Portugal and Spain. During the Modern Era, Hispanic sometimes takes on a more limited meaning, particularly in the United States, where the term means a person of ...
woman and Puerto Rican
Puerto Rico
Puerto Rico , officially the Commonwealth of Puerto Rico , is an unincorporated territory of the United States, located in the northeastern Caribbean, east of the Dominican Republic and west of both the United States Virgin Islands and the British Virgin Islands.Puerto Rico comprises an...
to hold a United States Cabinet
United States Cabinet
The Cabinet of the United States is composed of the most senior appointed officers of the executive branch of the federal government of the United States, which are generally the heads of the federal executive departments...
-level position.
Early years
Alvarez was born in Aguadilla, Puerto RicoAguadilla, Puerto Rico
Aguadilla , founded in 1775 by Luis de Córdova, is a city located in the northwestern tip of Puerto Rico bordered by the Atlantic Ocean to the north and west, north of Aguada, and Moca and west of Isabela. Aguadilla is spread over 15 wards and Aguadilla Pueblo...
into a family of modest economical means, who despite their hardships always encouraged her to pursue her dreams. After she received her primary education in Puerto Rico, her family moved to New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
in hopes of improving their economic situation. In New York, she attended high school and participated in a program called "ASPIRA". "ASPIRA" was founded by Dr. Antonia Pantoja
Antonia Pantoja
Dr. Antonia Pantoja , educator, social worker, feminist, civil rights leader and founder of ASPIRA, the Puerto Rican Forum, Boricua College and Producir.-Early years:...
and has helped disadvantaged children, especially girls, gain the leadership skills and knowledge required to go to college.
Álvarez applied and was accepted at Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
where in 1971 she earned her Bachelors of Arts degree grauduating Cum Laude. During her student years many people provided her with support.
Journalist for the New York Post
Álvarez began her career as a journalistJournalist
A journalist collects and distributes news and other information. A journalist's work is referred to as journalism.A reporter is a type of journalist who researchs, writes, and reports on information to be presented in mass media, including print media , electronic media , and digital media A...
for the New York Post
New York Post
The New York Post is the 13th-oldest newspaper published in the United States and is generally acknowledged as the oldest to have been published continuously as a daily, although – as is the case with most other papers – its publication has been periodically interrupted by labor actions...
and won a "Front Page Award". She later became a news reporter and anchor
Anchor
An anchor is a device, normally made of metal, that is used to connect a vessel to the bed of a body of water to prevent the vessel from drifting due to wind or current. The word derives from Latin ancora, which itself comes from the Greek ἄγκυρα .Anchors can either be temporary or permanent...
for Metromedia Television (Channel Five) also in New York. In 1982, she won an Associated Press
Associated Press
The Associated Press is an American news agency. The AP is a cooperative owned by its contributing newspapers, radio and television stations in the United States, which both contribute stories to the AP and use material written by its staff journalists...
Award for Excellence and she was nominated for an Emmy Award
Emmy Award
An Emmy Award, often referred to simply as the Emmy, is a television production award, similar in nature to the Peabody Awards but more focused on entertainment, and is considered the television equivalent to the Academy Awards and the Grammy Awards .A majority of Emmys are presented in various...
for her reporting of guerilla activities in El Salvador
El Salvador
El Salvador or simply Salvador is the smallest and the most densely populated country in Central America. The country's capital city and largest city is San Salvador; Santa Ana and San Miguel are also important cultural and commercial centers in the country and in all of Central America...
.
Álvarez ventured into the banking business by becoming an investment banker at the First Boston Corporation and at Bear Stearns
Bear Stearns
The Bear Stearns Companies, Inc. based in New York City, was a global investment bank and securities trading and brokerage, until its sale to JPMorgan Chase in 2008 during the global financial crisis and recession...
. As a public servant, she spent two years at the NYC Health and Hospitals Corp. She was also a commissioner on the New York City Charter Revision Commission and a member of the Mayor's (NYC) Committee on Appointments. On June 1993, Álvarez was named Director of the Office of Federal Housing Enterprise Oversight. She created a financial safety and soundness oversight program for Fannie Mae and Freddie Mac.
Small Business Administration
In 1997, Álvarez was appointed by President Bill ClintonBill Clinton
William Jefferson "Bill" Clinton is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation...
, Administrator of the Small Business Administration
Small Business Administration
The Small Business Administration is a United States government agency that provides support to entrepreneurs and small businesses. The mission of the Small Business Administration is "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses...
, thus becoming the first Hispanic woman and Puerto Rican to serve as an executive officer in the U.S. Cabinet. She directed the delivery of a comprehensive set of financial and business development programs for American
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
small businesses. The agency provided financing worth eleven billion dollars a year to small businesses across the nation.
In 2000, Álvarez was elected to the Board of Overseers of Harvard University. Her role is to visit the graduate schools, departments and museums of the University to ensure that the University remains true to its Charter as a place of learning. She also serves on the National Trust for Historic Preservation; the Coalition for Supportive Housing and is on the Board of Trustees of the Latino Community Foundation.
During the 2004 Presidential Election
2004 presidential election
The 2004 presidential election may refer to:* Afghan presidential election, 2004* Algerian presidential election, 2004* Austrian presidential election, 2004* Dominican Republic presidential election, 2004* Georgia presidential election, 2004...
, Álvarez was named official spokeswoman for Senator John Kerry
John Kerry
John Forbes Kerry is the senior United States Senator from Massachusetts, the 10th most senior U.S. Senator and chairman of the Senate Foreign Relations Committee. He was the presidential nominee of the Democratic Party in the 2004 presidential election, but lost to former President George W...
. Álvarez had met Kerry during her days as the Small Business Administration administrator. She became familiar with his work in the U.S. Senate for small business development. As of January 2008, Alvarez sits on the board of directors for Wal-Mart
Wal-Mart
Wal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
.
Álvarez has been featured in many magazines, among them "Latina Style" and is featured in the book "Hard Won Wisdom" by Fawn Gerner, where she is quoted as saying
"I first learned about leadership when I fought back after a female gang leader tried to bully me".