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TURNING THE TABLE - A Wall Street Millionaire

TURNING THE TABLE - A Wall Street Millionaire

"The Wall Street millionaire bringing healthy Food to those in need" PBS NewsHour 8/18/2016

REF:  “The Love of Money” by Sam Polk, New York Times 1/18/2014


SUMMARY:  Sam Polk was making millions on Wall Street when he had a life-changing revelation:  he wanted to help those in need.  His focus became so-called "food deserts," regions with limited access to healthy food.  Polk founded Everytable to serve nutritious meals at minimal prices for low-income populations, but higher prices for customers who can afford them.  Economics correspondent Paul Solman reports.

JUDY WOODRUFF (NewsHour):  Now, economics correspondent Paul Solman spends a little time with a former hedge fund trader turned social entrepreneur, someone who wants to turn the table on food shortages in inner cities by launching an array of eateries in both high-end and lower-income neighborhoods.

It's part of our series “Making Sen$e”, which airs Thursdays on the “NewsHour”.

PAUL SOLMAN (NewsHour):  Sam Polk was formerly a top dog at one of the world's top hedge funds.

SAM POLK, Former Hedge Fund Trader:  My dad was this sort of Willy Loman character, this sort of out-of-work salesman that could never make ends meet.  So when I was on Wall Street, my entire life's goal was to make more money than the next guy.

DORCIA WHITE-BRAKE, Groceryships Graduate:  Just going to pour a little bit of salsa inside.  It's like your own little bowl.

MAN:  Wow, nice.

PAUL SOLMAN:  Dorcia White-Brake is a teacher's aide in Los Angeles.  Three kids, no car, the nearest supermarket miles away.

DORCIA WHITE-BRAKE:  So I can have, you know, good healthy food that tastes good.  I have to take a bus and a train.

SAM POLK:  When I was 27, I had been on Wall Street for five or six years and I was at this club in Las Vegas, and it was this super-exclusive club and there was $1,000 bottles of champagne, and beautiful women all around.  My life finally looked like I'd always wanted it to look.  But I basically felt empty.

DORCIA WHITE-BRAKE:  So, basically, I waited six months for this application.


DORCIA WHITE-BRAKE:  Yes, and I got it and I turned it in and then it seemed like an eternity.  I was waiting and waiting and finally I got a call.

PAUL SOLMAN:  Got a call to join the Los Angeles non-profit Groceryships Program, started by Sam Polk.

SAM POLK:  I started Groceryships when I came to understand that people are living in food deserts, where there's very little produce for sale and tons and tons of fast food.

This post first appeared on Mage Soapbox, please read the originial post: here

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TURNING THE TABLE - A Wall Street Millionaire


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