Jackson Opens Wall Street Office

After using boycotts to help persuade Mitsubishi and Texaco to improve opportunities for minorities, Jesse Jackson came to Wall Street on Tuesday to launch a new effort to root out corporate discrimination.

Jackson opened an office in the heart of the business capital that will serve as an extension of the Rainbow/PUSH Coalition to pressure companies to increase racial diversity.

The plan comes at a time when the political climate has become less tolerant of affirmative-action and many companies are struggling with racism allegations.

Mitsubishi Motor Sales of America recently agreed to spend $200 million over five years to improve minority opportunities, including pay raises and new car dealerships. Texaco agreed to pay $175 million to plaintiffs in its racism case and hire more minorities.

Jackson cited those cases and others as “symptoms of a deeper malady.”

He said his group would not “need to be on Wall Street” if the Clinton administration paid more attention to “deadbeat corporations that don’t honor laws of inclusion.”