I don't know about now, but when I was going through high school, most of the Latin American friends found the term "hispanic" a little offensive. They used to say, where the hell is "Hispanica?" I don't see it on any map. Latin Americans are a very diverse group with very different cultures and histories. But for whatever reason, the marketers, networks, pollsters, and etc... like to lump them all into a single box. Until they take the time to understand the diversity, I think they will continue to fail in reaching them.
I am a 3rd generation "hispanic". I don't take offense of the term per-se but I wonder why we have to have any sort of term at all. My grandparents on my moms side came over from Mexico when they were teenagers. My grandfather fought for the US in the Korean war, then moved to Detroit and started his own auto-repair shop. On my dads side, my grandparents also came over when they were young but they are German. My opa was Brighton Michigan's first ever exchange student. It was a big deal for our small town. Both sides of the family overcame adversity to come to the US and make good for their future families. However, when I fill out a census form all they care about is the side that gives my skin a bit more pigmentation. I'm proud to have mexican heritage but I'm equally proud of my german heritage and I feel as though I am lying when I fill out these "forms". I don't feel hispanic. I don't feel german either. I feel completely american though but somehow, that's not a box I can check. Fucking lame.