Black Business and Economic Stories for the week of March 22nd to 28th 2021

Top Stories

  • Guaranteed Income in Jackson Designed By Black Moms for Black Moms, Showing Results for Black Moms (Next City)
  • Evanston, IL becomes the first city to pay reparations for its anti-Black housing policies (Upworthy)
  • Building Wealth While Black: How Atlanta Fueled a Family Fortune (Bloomberg)
  • NY Mayor pushes cannabis revenue as gateway to racial equity (The Grio)
  • Greenwood banking platform geared toward Black and Latino people raises $40 million in funding (CBS News).
  • Fintech Startup Greenwood Raises $40 Million in Funding to Provide Black and Latino Banking Services (PR Newswire) — Press Release. Investors include: Truist, Bank of America, PNC, JPMorgan Chase, Wells Fargo, Mastercard, Visa, and SoftBank
  • “Hood to Hire” Addresses the Unemployed and Displaced Workforce. (Chicago Defender)
  • Monique Greenwood , DC native creates chain of successful bed and breakfast inns (WTOP) — Akwaaba Bed and Breakfast Inns
  • Black female contractor builds million-dollar business in Columbia (Cola Daily) – South Carolina
  • Apple shares new data about diversity (9 to 5 Mac)
  • Powell ‘not at all happy’ with Fed’s diversity (The Hill) – Only 2 out of 417 fed economists are Black. Why Are There So Few Black Economists at the Fed? (NY Times)

Stories

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • Year after COVID crisis hits, some small businesses see ‘400 percent growth’ (ABC)
  • COVID-19 economic recovery remains slowest for communities of color in Wisconsin (WTMJ) – Milwaukee
  • Black-Owned Businesses Aim for Post-Pandemic Rebound (VOA)
  • As Black-Owned Businesses Struggle Through Pandemic, Many Find Lifeline Online (Nasdaq)

Jobs / Workers / Unemployment / Gig Economy

  • Black workers, hammered by pandemic, now being left behind in recovery (Politico)
  • Guaranteed Income in Jackson Designed By Black Moms for Black Moms, Showing Results for Black Moms (Next City)
  • “Hood to Hire” Addresses the Unemployed and Displaced Workforce. (Chicago Defender)
  • Four Ways to Support Racial Equality in the Workplace (D Magazine)
  • COVID pushed Black unemployment higher in Pa. than anywhere in the nation, report says (WHYY) – PA unemployment rate was almost 20% in Q3 2020.
  • New Analysis Reveals 20 Years of Stagnant Wage Growth for American Workers (PR Newswire)

Inequality / Systemic Racism / Economic Justice

  • A convergence of racial reckoning for Black and Asian Americans (Washington Post)
  • Is the tax code racist? (Marketplace)
  • UK businesses may be forced to reveal ethnicity pay gap (The Guardian)
  • ‘I felt like I was singled out.’ Two people who claim racial bias at Facebook describe their experiences (Fortune)
  • Black, Asian leaders in Atlanta hope tragedy sparks better understanding between Communities (WSBTV)

Black Business

Black Business General / Interesting Businesses Stories

Black Business Specific

  • Monique Greenwood , DC native creates chain of successful bed and breakfast inns (WTOP) — Akwaaba Bed and Breakfast Inns
  • Killer Mike’s Black-owned bank, Greenwood, raises nearly $40 million in funding (Revolt)
  • Black-owned firm says new training program will help make clinical research more diverse (Cincinnati Business Journal) – This is a great business startup. The idea is brilliant.
  • Family-Owned Business Awards 2021: Black Classic Press (Baltimore Business Journal)
  • Black Classic Press is a Book publishing business in Baltimore, MD.
  • Milligan Group and other Black-owned businesses face access-to-capital puzzle (Philadelphia Business Journal) – “We cannot get to the next level without it”
  • Black female contractor builds million-dollar business in Columbia (Cola Daily) – South Carolina

Big Business / Corporate

  • Black San Francisco man says Starbucks singled him out for removal, company Apologizes (NY Daily News)
  • Apple shares new data about diversity (9 to 5 Mac)
  • M&F Bank using funds to promote an inclusive pandemic recovery (WRAL)
  • Fifth Third awards $1.2 million to help Black, women entrepreneurs (Cincinnati Business Journal)
  • AT&T’s Jalayna Bolden secured $3.1B for Black businesses during the pandemic (Rolling Out)

Discrimination

  • Nielsen settles lawsuit with Black executive over alleged discrimination (Chicago Tribune)

Reparations / Affirmative Action / Diversity / Inclusion

  • Chicago suburb’s plan to pay Black residents reparations could be a national model (NBC News) — The city council, which has already committed $10 million over a decade to the effort, will vote on Monday to begin with a $400,000 round of payments.
  • Evanston, IL becomes the first city to pay reparations for its anti-Black housing policies (Upworthy)
  • Evanston’s reparations plan is more symbol than substance (Chicago Tribune)
  • Absurdity of the ‘black reparations’ wokery (The Conservative Woman)
  • Reparations in Chicago? (Bloomberg Next City) – Chicago was looking at a guaranteed income plan.
  • Reparations for bias and slavery gains momentum (RawStory)
  • Where to shop? Business Diversity Directory shows you options led by women, Minorities (Cambridge Day)
  • DivInc CEO: What Austin businesses get right about diversity, what still needs to be done (Austin Business Journal)

Economics

Black Economics

  • Powell ‘not at all happy’ with Fed’s diversity (The Hill) – Only 2 out of 417 fed economists are Black.
  • Why Are There So Few Black Economists at the Fed? (NY Times)
  • Self-Help Credit Union, Kiva partner with local cities on microloan program for minority entrepreneurs (Charlotte Business Journal)
  • Building Wealth While Black: How Atlanta Fueled a Family Fortune (Bloomberg)
  • Invest in Children and Equality: Hand Out Baby Bonds (Bloomberg)
  • Students, UGA Faced With Tough Decisions After Receiving New Funds (Grady)
  • Gov. J.B. Pritzker signs Illinois Legislative Black Caucus’ economic reform package
  • (Chicago Tribune)
  • Transcript: The Path Forward: Economic Mobility with Raphael W. Bostic, President and CEO of the Federal Reserve Bank of Atlanta (Washington Post)
  • Inside JPMorgan’s $30 billion push for racial equity in the economy — and within its own walls (Business Insider)

Straight up Econ / The Economy

  • Press Briefing by Press Secretary Jen Psaki, Chair of the Council of Economic Advisers Cecilia Rouse, and Member of the Council of Economic Advisers Heather Boushey (Whitehouse.Gov) on March 24, 2021. The topics covered are Equal Pay Day for Women.
  • Reasons behind the ongoing challenge in attracting and retaining women in economics (Yahoo)

Industry Stories

Marketing / Advertising / Sales / Consumer Behavior

  • Black Americans are buying more guns while navigating ‘landmines of white supremacy and racism’ (Michigan Live)
  • Blacklisted Bingo: Month-long event encourages support of Black-owned
  • Businesses (Daily Advertiser)

Alcohol / Marijuana / CBD / Gambling

  • The First Black-Owned Multinational Cannabis Brand: Al Harrington’s Viola To Launch In Canada (Forbes)
  • NY Mayor pushes cannabis revenue as gateway to racial equity (The Grio)
  • How These Long-Lost Sisters Launched The Largest Black-Owned Winery In The US (Refinery 29)
  • Will the State Marijuana Bill Pay Off for Black and Brown New Yorkers? (The City)
  • New York Mayor Proposes Using Marijuana Taxes To Fund Guaranteed Income As Reparations For Black Community (Marijuana Moment)
  • Springfield To Spend Some Cannabis Tax Money Supporting East Side Small Businesses, Homeowners (NPR)
  • FAMU’s Medical Marijuana Education and Research Initiative hosting forum on Minorities in Marijuana (Tallahassee Democrat) – Story near the bottom
  • Recreational Marijuana Sales Race Ahead, But Industry Equity Falls Behind (MSN.Com)

Beauty / Fashion / Retail

  • A Year Into the Pandemic: How Black-Owned Hair Salons Are Keeping Their Doors Open (Popsugar)

Technology / Apps / Innovation

  • Greenwood banking platform geared toward Black and Latino people raises $40 million in funding (CBS News)
  • Black-Owned Tech Company Creates Safety App to Help Prevent Police Brutality (Black Business)
  • Tech Players Move to Promote Black-Owned Businesses (The Daily)
  • TikTok Is Boosting Black Content Creators (Los Angeles Business Journal)

Finance / Investing / Venture Capital

  • Majority Black-Led MaC Venture Capital Raises Inaugural $110 Million Fund To Invest In Emerging Tech Disruptors (Forbes). Another story from USA Today. Adrian Fenty, former mayor of DC, is a partner. The business is called MAC Venture Capital.
  • Asset Management: Racial Wealth Gap Between Black, White Americans Remains Wide (Chief Investment Officer) — Survey finds 71% of white Americans own stocks, compared with 55% of Black Americans.
  • Ariel-Schwab Black Investor Survey 2020 – Released February 2021

Real Estate / Finance / Development / Housing / Segregation

  • Town of Orange Park, Florida, says Blacks’ homes aren’t being targeted for development (News 4 Jacksonville) – Jacksonville, FL
  • Economic & Community Development Committee’s request for vacant land map creates confusion Policies (Upworthy)
  • Data Spotlights Pernicious Savings Gaps by Race, Ethnicity (Plan Advisor) – Fifty percent of Whites have a retirement savings plan while only 35% of Blacks. In addition Whites have an account balance of about $80,000 while Blacks have a balance of $35,000.

Construction / Jobs / Discrimination

  • In West Baltimore, two Black women developers take novel approaches to tackle Blight (Baltimore Business Journal)
  • Tacoma Water unfairly picks white management applicants over Black ones, complaint says (KIRO 7) – Tacoma, WA

Cities / Urban Planning / Local Government

  • Panel: Diverse leadership matters as Boston deals with racist reputation (Boston Business Journal)
  • Alabama Jobs Act and the Growing Alabama Tax Credit Has 3% jobs credit for Majority business and a 4%credit for Minority business (Birmingham Business Journal)
  • Southeast Side Organizers Say Solution to Pollution Problem Includes Clean Industry Jobs (WTTW) – Chicago, IL

Politics / Government / Federal, State and Local

  • Here are some of the key measures in the Illinois Legislative Black Caucus’ economics package signed by Pritzker (Chicago Tribune)
  • Biden Administration Ramps Up Debt Relief Program to Help Black Farmers (New York Times)
  • Obama Foundation President Wally Adeyemo picked to be deputy Treasury secretary (Chicago Sun Times)

Law / Legal / Non-profits / Philanthropy / Non-Profit

  • Biden Expected to Name First Black Manhattan U.S. Attorney (Bloomberg Law)

Education / Healthcare

  • Non-White Students Twice As Likely To Desire Virtual Internships, Jobs Upon Graduation (Forbes)
  • A Novel Way to Finance School May Penalize Students From H.B.C.U.s, Study Finds (NY Times) – Discusses income sharing as a payment option
  • Cohort Sistas 3.1% campaign celebrates Black women with doctoral degrees (The Grio)

Farming / Agriculture / Food

  • Returning to his roots: Award-winning Carter brings Africulture to Orange County farm (Orange County Review) – Virginia. Long story about Black Farmers using “Africulture” – growing crops from Africa in Virginia. To learn more about Carter Farms visit www.thecarterfarms.com and to shop for seeds you can grow in your own garden visit www.carterbrothers.net.
  • ‘Systemic’ USDA discrimination against Black farmers gets scrutiny (Missourian)

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

  • Black-owned firm says new training program will help make clinical research more diverse (Cincinnati Business Journal) – This is a great business startup. The idea is brilliant.
  • Multicultural Foodservice & Hospitality Alliance’s Pathways to Black Franchise Ownership Initiative (PR Newswire) – Press Release. Multicultural Foodservice and Hospitality Alliance (MFHA) is kind of interesting.
  • Glamping: Women-led, Black-owned business opens luxury camping season (Startland News)

People / Motivation / Leadership / Success Stories / Ideas

  • Meet Kerin John, the Woman Putting Black-Owned Canadian Businesses On (Complex)
  • MESO names Umpqua Bank exec Cobi Lewis as new executive director (Portland Business Journal)
  • Daymond John (Shark Tank) talks evolution of FUBU, importance of small Black businesses (Yahoo)
  • Meet one of the few Black women in charge of an Atlantic City casino (NJ)
  • DC native creates chain of successful bed and breakfast inns (WTOP)
  • A Black Architect Is Transforming the Landscape of Golf (New York Times)
  • Dante Lee, This HBCU Grad Has Helped Over 1,000 Black-Owned Businesses Generate Revenue (AfroTech)

All Other

Caribbean / Africa / International

  • Meet Kerin John, the Woman Putting Black-Owned Canadian Businesses On (Complex) – Toronto, CA

Travel / History

  • Red pill or blue? Historic Charlotte neighborhoods are getting new life — in virtual reality. (Greensboro)
  • The Black CPA Centennial: Meet the first Black CPA (Accounting Today)
  • Why the Roaring Twenties Left Many Americans Poorer (History)

Black Business and Economic Stories for March 15th to March 21st 2021

Top Stories

  • Black Women Are More Likely to Start a Business than White Men (Harvard Business Review). A lot of statistics regarding type of business, funding, and education.
  • Corporations vowed to fight racism after George Floyd, but many still don’t have a single Black board member (USA Today)
  • Maggie Walker: Why America’s First Black Female Bank Founder Is Still Owed A Great Debt (Forbes) – a very good long piece on Maggie Walker.
  • The Brands Reimagining Natural Hair Care (NY Times)
  • ‘Silver linings in this mess of a pandemic’: Telecommuting allows Black women in Maryland to build wealth (Baltimore Sun). The pandemic has opened labor markets which allows Black women to secure better-paying jobs.
  • She was tired of seeing Black stereotypes on TV. So she started her own streaming service. (CNN). This article highlights the story of DeShuna Spencer and Kweli.TV.
  • ‘The Banker” movie: Review And Plot Explained (Otakukart) – A movie everyone should watch.
  • Sir Arthur Lewis and His Enduring Legacy (You Tube) – London School of Economics. Sir W. Arthur Lewis: A Lasting Legacy (You Tube) – Woodrow Wilson School of Public and International Affairs. Very good.
  • Legacy of Nobel laureate Sir W. Arthur Lewis commemorated at Robertson Hall (Princeton) – Press release. Arthur Lewis at LSE – one of our best teachers(LSE)
  • Michael Strahan, Pharrell, Join To Educate Athletes About Their Finances At NKSFB Sports Wealth Summit (Black Chronicle)
  • 333 years needed to erase equity gap for minority-owned businesses at current growth level (PRNewswire). Original report from the Michigan Minority Supplier Development Council

Stories

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

Jobs / Workers / Unemployment / Gig Economy

  • For Black workers, age discrimination strikes twice (Washington Post)
  • Tucker: Curb unemployment by paying a living wage (Telegraph Herald)
  • Biden calls on employers to help get more workers vaccinated, saying it will boost the economy (Washington Post)
  • Almost 2 million Americans will lose supplemental unemployment benefits in 16 states (CNBC). Workers will lose a $300 weekly supplement to unemployment benefits. 
  • Uncounted in the Unemployment Rate, but They Want to Work (NY Times)

Inequality / Systemic Racism / Economic Justice / UBI

  • Cesca: Geography and public policy are strongly influencing racial inequality (Baltimore Sun)
  • How Businesses Can Drive the Systemic Change They Say They Want (Barrons)
  • Our America: The history of the model minority myth and its impact on Asian-American communities (ABC) – Model minority myth used to make unfair comparisons, pitting Asian Americans against Black and Latino people.
  • 333 years needed to erase equity gap for minority-owned businesses at current growth level (PRNewswire). Original report from the Michigan Minority Supplier Development Council

Black Business

Black Business General / Interesting Businesses Stories

  • ‘There Are No Words For It’: Husband And Wife Duo Behind Frugal Bookstore Reflect On Their Whirlwind 2020 (WGBH)
  • How Will You Market Your Business in this Economy (Nasdaq)
  • This Black Women-owned Brand Makes Some of the Most Unique Travel Accessories Out There (Travel and Leisure)
  • ‘We Didn’t Have Time To Pause’: Entrepreneurs Of Color Reflect On The Pandemic (WGBH) – Basic Black
  • Second Round Of PPP Brings More Success For Some Minority-Owned Businesses (WFAE)
  • There Are Valuable Lessons To Be Learned From Black Business Icons (Forbes)
  • Black Women Are More Likely to Start a Business than White Men (Harvard Business Review). A lot of statistics regarding type of business, funding, and education.
  • Memphis aims to financial help 500 black business over the next three years (Commercial Appeal)
  • Black-Owned Food Establishments Struggle In Nation’s Capital (NPR) – Discusses Washington DC food with Anela Malik from Feed the Malik blog.

Black Business Specific

  • Black’s Life Center offers a personalized funeral experience, expert care (Marshall News Messenger) – Texas
  • Mother, daughters create tiny resort business in Lee County (WSFA12)
  • AMERICAN BLACK JOURNAL: Detroit Restaurant Business (PBS North Carolina) – Discusses Kuzzo’s kitchen in Detroit.

Black Economics

Black Economics

  • Sir Arthur Lewis and His Enduring Legacy (You Tube) – London School of Economics
  • Sir W. Arthur Lewis: A Lasting Legacy (You Tube) – Woodrow Wilson School of Public and International Affairs. Very good.
  • Legacy of Nobel laureate Sir W. Arthur Lewis commemorated at Robertson Hall (Princeton) – Press release
  • Arthur Lewis at LSE – one of our best teachers(LSE)

—————————————————————————————————————————-

  • The Two Women Fixing the Pipeline for Black Female Economists (Washington Post)
  • Breaking Barriers For BAME Entrepreneurs (Forbes)
  • Inclusive Economy (NAACP) – NNACP introduce and inclusive economy program.
  • How businesses can heed Martin Luther King, Jr.’s call to support Black banks (CNN Business)
  • Could one road project change the future of Alabama’s black belt? (AL.COM) – Route 43.  A look inside rural development in Alabama’s Black belt.
  • How Systemic Racism Continues To Determine Black Health And Wealth In Chicago (NPR). Original article is from the New York Times.
  • ‘Silver linings in this mess of a pandemic’: Telecommuting allows Black women in Maryland to build wealth (Baltimore Sun). The pandemic has opened labor markets which allows Black women to secure better-paying jobs.
  • Maggie Walker: Why America’s First Black Female Bank Founder Is Still Owed A Great Debt (Forbes) – a very good long piece on Maggie Walker

Economics / The economy

Co-Ops / Employee Owned / Cooperative Economics (UJamaa)

  • Decolonising race and class (Barbados Today) – Advocates coops and employee ownership.

General Business

Big Business / Corporate / Business Strategy

  • Rosalind Brewer officially takes the helm at Walgreens, becoming the only Black woman Fortune 500 CEO (CNN)
  • Will Walmart’s early payment program be a difference-maker for minority vendors? (Retail Wire)
  • Coca-Cola is at the center of a debate over corporate social justice, with an anti-affirmative-action activist threatening to sue over its supplier diversity program (Business Insider)
  • Corporate brands stepped up during 2020’s racial reckoning — now comes ‘the hard work’ of real equity and inclusion (MarketWatch)
  • Black Lives Matter holds rally Saturday for Amazon union vote (AL.com) – Gotta be careful.  This might backfire.
  • Black Workers at Amazon Warehouse have the Power to Keep Making History (Tennessee Tribune)
  • Goldman Sachs commits billions to impact black women’s lives (Business Chief) – Have to keep an eye on GS. Goldman Sachs does not have a good record on social justice, helping poor people or supporting the government.
  • Goldman Sachs Commits Additional $500 Million to Launch With GS for Total of $1 Billion (Black PR Newswire). Goldman Sachs program Launch with GS is here.
  • ‘Racial bias runs deep’ at America’s big banks, study says (CNN). The study covers discrimination against workers. Here is the Better Banks Accountability Project and the study.
  • Solar project aims to deliver training and equity to North Minneapolis (Energy News Network)
  • Board Prospects Releases Report Highlighting Lack of Black Board Members in Russell 3000 (PR Newswire) — The report shows that more than 60% of companies in the Russell 3000 have no Black board members. — Board Prospect is a recruiting firm specializing in minority board members. Read report here.

Discrimination

  • Corporations vowed to fight racism after George Floyd, but many still don’t have a single Black board member (USA Today)

Real Estate / Housing / Segregation

  • Commercial Real Estate: Why Diversity, Equity and Inclusion Are Paramount for Smart Business at Lument (Commercial Observer) – NYC commercial real estate news.  CRE Industry is basically devoid of minorities.
  • PACE loan program gives loans to underserved communities in ST. Louis (St. Louis Post-Dispatch)

Reparations / Affirmative Action / Diversity / Inclusion

  • Monday numbers: A closer look at the case for reparations for Black Americans (NC Policy Watch)
  • Chicago suburb’s plan to pay Black residents reparations could be a national model (KFGO) – Reuters
  • Amherst creates fund to pay reparations to Black residents (The Westerly Sun)
  • New Ford Bronco Sport ad spotlights Black women, challenges stereotypes (Detroit Free Press)
  • ‘There were six. And now there’s zero’: Restaurant industry grapples with lack of diversity in executive ranks (USA Today)
  • Still Too Few Black Executives In SA, Sectors Not Doing Enough – 2021 Sanlam Gauge Report (iafrica)
  • Diversity in the Workplace: Accelerating Change in the Boardroom with Ursula Burns, Senior Adviser of Teneo & Former CEO of Xerox (Washington Post)
  • Charleston ports agency could get more oversight, add minority contractors (Post and Courier)

Industries and Categories

Beauty / Fashion / Retail

  • Engineer Aliyah Powell takes fashion industry by storm (Afro.Com). Here is Fit Fashionista website as mentioned in the article.
  • The Brands Reimagining Natural Hair Care (NY Times)

Sports / Media / Entertainment

—————————————————————————————————————————————–

  • IPG pledges to spend 5% on Black-owned media by 2023 (Marketing Dive)
  • Marketers are reportedly underpaying Black influencers compared to white people with less followers (Business Insider)
  • Report: Kyle Lowry’s Investments Motivated by More Than Capital Gains (Sports Illustrated)
  • NBA stars like Kevin Durant and Kyle Lowry are increasingly pouring money into startups for the thrill of investing and a chance to break down barriers for people of color (Business Insider)
  • She was tired of seeing Black stereotypes on TV. So she started her own streaming service. (CNN). This article highlights the story of DeShuna Spencer and Kweli.TV.
  • New report shows Black, Hispanic workers underrepresented in creative jobs (NYN Media)
  • Black Workers Find Little Opportunity in Growing Video Game Industry (Yahoo Finance) – Well, Bloomberg

Alcohol / Marijuana / CBD / Gambling

  • Cannabis Advocates Rip Arizona’s Draft Rules for ‘Social Equity’ Licenses (Phoenix New Times)
  • The cofounder of Colorado’s first Black-owned cannabis dispensary (Business Insider)
  • How will Plainfield handle marijuana? City wants public input (My Central Jersey)
  • Meet Florida’s first Black female winemaker. Desriee Noisette founded Mermosa four years ago (Click Orlando)
  • Phil Long of Longevity Wines (South Florida Reporter)

Food / Restaurants

  • Organization brings Black Restaurant Week to Nashville’s culinary scene (Nashville Business Journal)
  • Cereal bar brings Saturday morning nostalgia and encouragement to other Black-owned businesses (Spectrum News)
  • As barbecue booms, Black Southern pitmasters claim their rightful place (Tennessean)
  • Entrepreneur creates a welcoming environment for women to purchase hair care Supplies (Philadelphia Tribune)
  • Black-Owned Food Establishments Struggle In Nation’s Capital (NPR) – Discusses Washington DC food with Anela Malik from Feed the Malik blog.

Finance / Investing / Venture Capital

  • Women and minority investors are taking matters into their own hands (Chicago Booth)
  • American Express puts $40 million into a fund to provide loans to small business owners of color (CNBC)
  • Minority-Owned Investment Banks Are Underwriting More Corporate Bond Offerings (Wall Street Journal) (MorningStar)
  • ‘Racial bias runs deep’ at America’s big banks, study says (CNN). The study covers discrimination against workers. Here is the Better Banks Accountability Project and the study.
  • U.S. Bank Access Fund to Focus $25M on Women of Color in Business (Philanthropy Women)

Real Estate / Finance / Development / Segregation

  • Local partnership aims to assist BIPOC community members looking to start businesses and buy homes (Ithaca Voice)
  • Are renters—and the U.S. economy—hurtling toward an ‘eviction cliff’? (Phys)
  • Black Americans and The Racist Architecture Of Homeownership (NPR)
  • A new study shows anti-Black racism is costing American homeowners hundreds of thousands of dollars (Business Insider
  • New crowdfunding rules set to boost investment in diverse startups and founders (Impact Alpha)
  • Marcia Fudge Assumes HUD at Critical Time for Housing, Reverse Mortgages (Reverse Mortgage Daily)  — It’s funny to see how a publication, of the disreputable reverse mortgage industry, treats a regulator who might crack down. 
  • Maggie Walker: Why America’s First Black Female Bank Founder Is Still Owed A Great Debt (Forbes) – a very good long piece on Maggie Walker
  • ‘The Banker” movie: Review And Plot Explained (Otakukart) – A movie everyone should watch

Technology / Apps / Innovation

  • From Silicon Valley To Nairobi: Sote Founders’ Startup Dream Spans Two Continents (Crunchbase)
  • 3 Ways Technology Can Help Minority-Owned Businesses Recover (LMT)

Science / Math / Statistics / STEM

  • Gerald Johnson: Black Engineer of the Year (BEYA Stem Conference) – Executive Vice President Global Manufacturing, General Motors

Cities / Urban Planning / Local Government

  • The Neighborhood Fighting Not to Be Forgotten (The Atlantic)

Politics / Government / Federal, State and Local

  • Biden senior advisor Cedric Richmond on how American Rescue Plan benefits Black communities (The Grio)

Education / Healthcare

  • Community College enrollment drops 10% (Amarillo Globe-News)
  • Historically Black colleges need equal access to the bond market (The Hill)

Farming / Agriculture / Food Production

  • Black Farmers Have Long Faced Discrimination. New Aid Aims To Right Past Wrongs (NPR)
  • A $5 billion down payment on what America owes to Black farmers (CNN)

People, Careers and All Other

Career / Professions / Entrepreneurship / Businesses You Can Start

  • Matice Wright-Springer rejoins Booz Allen as partner (Consulting US) – It’s nice to see Black people cashing in on the revolving door of government consulting.  Consulting Magazine offers a peak inside the world of consulting.  Consulting is like the cheese cake factory of the knowledge service industry.
  • Vanessa Whiting owns 16 popeye’s franchises (Cleveland.Com)
  • ThirdLove Announces Bright Black as Second Winner of The TL Effect Incubator Program to Continue Advancement of Female Entrepreneurs of Color (Business Wire) – Press Release
  • Solar project aims to deliver training and equity to North Minneapolis (Energy News Network)

People / Motivation / Leadership / Success Stories / Ideas

  • Eventnoire, a Black-owned ticketing platform, just won first place in a $1m startup Competition (Face 2 Face)
  • 28-Year-Old Shares 3 Wealth Tips That Helped His Family Go From Welfare to Millionaires (Entrepreneur)
  • Lily Adeleye, the six-year-old behind the youngest Black-owned brand on Walmart’s shelves (Face2Face Africa)
  • This Black Mom Entrepreneur Is Paving The Way For Other Women-Led Companies (Forbes). Story about Monique Rodriquez and Mielle Organics.
  • Two Black Dads Celebrate Diversity By Creating Their Own Line of Black Dolls (Essence)
  • Mary T. Washington Wylie in 1943 became the nation’s first Black woman to earn the CPA license. The first Black woman to become a CPA (Journal of Accountancy)

Caribbean / Africa / International

  • New network aims to create opportunities for African Nova Scotians (CBC) – Canada
  • ‘It’s a matter of opening our eyes,’ Black-owned creative agency hopes to change the marketing environment (CTV) – Montreal, Canada
  • South African banks under fire over their exclusion of black businesses (IOL)
  • PIC has funded much less black-owned businesses than white – Dr Iqbal Survé (IOL)
  • Diversity advocate calls out “subtle racism” in Scottish finance sector (Insider) – United Kingdom
  • Snapshot on African Economy as of March 19th, 2021 (Proshare Investing) – Nigeria. Interesting site with a daily take on African financial markets. Nigeria is know for it’s advanced financial system.

Travel / History

  • Statue of “King” William Lanson (Atlas Obscura) – Statue honors a pillar of early New Haven Black Community.
  • 9 Entrepreneurs Who Helped Build Tulsa’s Black Wall Street (History)
  • A guide to the sites of the civil rights era encourages travelers to engage with Black history (NBC News) – Here is the website referenced in the article.
  • National Park Service Civil Rights Trail Website – Outstanding !!!
  • Maggie Walker: Why America’s First Black Female Bank Founder Is Still Owed A Great Debt (Forbes) – a very good long piece on Maggie Walker

Conservative / Alternative

  • Is it legal to prioritize women- and minority-owned restaurants for COVID-19 relief? A lawsuit alleges white men are ‘pushed to the back of the line.’ (Chicago Tribune)

Opinion

  • One People, One House: Help eliminate Black fatigue (Guest viewpoint) (Mass Live)
  • Black People Are Far More Powerful Than Critical Race Theory Preaches | Opinion (Newsweek)
  • Remove Governor Stitt from Tulsa Race Massacre Commission for signing HB 1775 (Black Wall Street Times)
  • America is having a Black Renaissance. We should learn from it. (Washington Post)
  • Why more Americans should leave home and move to other states (LA Times)

Other

  • Black and Hispanic Americans See Their Origins as Central to Who They Are, Less So for White Adults (Pew Research)

Black Business and Economic Stories for March 8th to March 14th 2021

Top Stories

  • “She-cession” threatens economic recovery (Axios). Fears that the women who left the workforce won’t return and the chances are higher with Black women.
  • Marketers Are Underpaying Black Influencers While Pushing Black Lives Matter (Bloomberg)
  • Hollywood is losing out on $10 billion in revenue every year by underfunding work by Black creators (Business Insider)
  • Black Americans are not investing in the stock market, and it’s costing them (The Denver Channel).
  • How Unfair Property Taxes Keep Black Families From Gaining Wealth (Bloomberg). Caused by the overvaluation of Black homes and the undervaluation of securing mortgages. 

Stories

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • Many Still Dealing with COVID-Related Financial Loss (Manufacturing)
  • Black-owned businesses face obstacles with Paycheck Protection Program (Yahoo News)
  • Newark art gallery owner fights to stay open during the pandemic (News 12 Connecticut)
  • TruFund, a Community Development Financial Institution, based in New York, distributed 87% of it’s PPP loans to minority businesses. (PR Newswire). TruFund PPP report is here.

Jobs / Workers / Unemployment / Gig Economy

  • “She-cession” threatens economic recovery (Axios). Fears that the women who left the workforce won’t return and the chances are higher with Black women.
  • A Year Later, Who Is Back to Work and Who Is Not? (New York Times)
  • Just 3% of Black professionals want to return to the office full-time, post-Covid (Silicon Valley Business Journal)
  • ‘Raising the Minimum Wage Has Direct Implications for Black Families’ (Fair)
  • Glassdoor rates the best companies for Black employees (EBN)
  • On International Women’s Day, a Look Back at the Last Year in Pandemic for Working Women (Wall Street Journal)
  • Black and Hispanic women aren’t sharing in the job market recovery (CNBC)
  • Pandemic exposes corporations’ true aims: Gig-ifying more jobs (Black Voice News)
  • Hiking the Minimum Wage to $15 Is Key — But It’s Hardly a Living Wage (Truthout)
  • Employment Rates Are Dropping Among Black Women, Data Shows (Madam Noire)

Inequality / Systemic Racism / Economic Justice

  • Marketers Are Underpaying Black Influencers While Pushing Black Lives Matter (Bloomberg)
  • Goldman: Closing the earnings gap for Black women would contribute up to $300B to U.S. GDP (Yahoo Finance)
  • In East Tampa, pandemic relief merges with small business development (Tampa Bay Times)
  • Racial inequality is a business risk (CBR) — Long-term investors and corporate leaders must help address racial injustice and economic inequity
  • Black women’s wealth is 90% lower than White men. Goldman Sachs is investing billions to change that (Philadelphia Tribune)
  • The Next Phase Of Retail: Values Driven Marketplaces (Forbes) – Marketplaces focusing on social impact and underrepresented communities are thriving.
  • New stimulus proposals look like a guaranteed income experiment. Early results show whether it will work (CNBC)

Black Business General / Interesting Businesses Stories

  • How he built one of the Charlotte area’s fastest-growing Black-owned businesses (Charlotte Business Journal)
  • 25 Black-owned brands to shop for your everyday essentials (CNN)
  • N.J. foundation invests $1M for unconventional loans to support Black-owned businesses (NJ.Com)
  • Nashville’s iconic Lower Broadway gets its first Black-owned businesses (Marketplace)
  • Florence native fights food insecurity and hopes to inspire future business owners (WPDE) – Florence, SC
  • International Women’s Day: Meet the two best friends from Birmingham taking the business world by storm (The Voice) — Niyo Enterprise was created to be a platform to empower black women.
  • 8 Black Women Owned Brands To Support For International Women’s Day (Essence)
  • To weather coronavirus, Black and brown-owned businesses show grit and Determination (MSN)
  • He put it all on the line opening his butcher shop a year ago. Then the pandemic hit. (Washington Post)
  • Pandemic highlights hardships black business owners face (WETA / PBS Newshour)

Black Business Specific

  • Black-owned “Oooh Wee It Is” Restaurant Opens Second Location in Chicago (Chicago Crusader) – Restaurant concept.
  • Mo’s Bows partners with GoDaddy for Black business development (Daily Memphian)
  • L. Brian Jenkins has brought his businesses Entrenuity, Mox.E and Overflow Coffee to the South Loop to provide services to help entrepreneurs. (Chicago Sun Times). Here is the website for Entrenuity mentioned in the story.

Big Business / Corporate

  • Goldman Sachs to invest billions in Black women (Marketplace)
  • Nike sets fresh diversity targets for 2025, and ties executive compensation to hitting them (CNBC)
  • Keep an eye on these four companies and their diversity efforts(CBS News) – Bank of America, UPS, Netflix and Walmart are leader in diversity and inclusion.  They also have a large Black consumer base.

Discrimination

  • Noose hanging at job site targeted Black worker at NC electric company, lawsuit Says (Charlotte Observer)
  • Only 1.3% of farmers in the US are Black, and some say they still face Discrimination (Business Insider)
  • ‘Second-Class Citizens’: Black Amazon Manager Sues Company Over Alleged Racial Discrimination, Harassment (Daily Beast)
  • UCLA-led Study Reveals ‘Hidden Costs’ of Being Black in the U.S. (Newswise) – Press release.
  • Money Protects White but Not African American Men against Discrimination: Comparison of African American and White Men in the Same Geographic Areas (IJERPH Journal Citation)

Reparations / Affirmative Action / Diversity / Inclusion      

  • Chicago suburb to become first city to give Black residents reparations (NBC News)
  • Evanston, Illinois, Could Be First City to Use Marijuana Tax to Fund Reparations for Black Residents (News Week)
  • Lindsey Graham criticizes COVID stimulus funds for Black farmers. ‘That’s reparations’ (Tri-City Herald)
  • For The Culture Newsletter: Going Beyond Black History Month With Our State Of Black Entrepreneurship Project (Forbes)
  • This Black Family Ran a Thriving Beach Resort 100 Years Ago. They Want Their Land Back. (New York Times)
  • Keep an eye on these 4 companies and their diversity efforts (CBS News)
  • Black History Month branding was good. Now companies need to do it for the whole year (Fast Company)
  • These Black Women Are Bringing Representation To The Podcast Space (Forbes)
  • How to hire more black women for leadership roles (Financial Times)

Economics

Black Economics

  • Revolution’s David Hall talks Covid-19, venture capital and what the future holds for Rise of the Rest (Washington Business Journal)
  • Experts Detail How Student Loan Debt Is Strangling Black and Latino Students (Sac Observer) – Black and Latino students have higher debt, and the borrowing of money creates vicious economic cycle preventing generational wealth.
  • “She-cession” threatens economic recovery (Axios) — Decades of the slow economic progress women made catching up to men evaporated in just one year.
  • More banks, not more regulation, key to minority business growth (Williamsport Sun-Gazette)
  • Banking co-ops run by Black women have a longtime legacy of helping people (The Conversation)
  • Relief bill is most significant legislation for Black farmers since Civil Rights Act, experts say (Washington Post)

Straight up Econ / The Economy

  • Child allowances could save working families. ‘Promoting marriage’ definitely won’t (Fortune) – Good discussion of marriage subsidies.
  • To Juice the Economy, Biden Bets on the Poor (New York Times)
  • When You’re a Small Business, E-Commerce Is Tougher Than It Looks (New York Times) – Big business is killing small business, especially in the e-commerce space.
  • Analysis: U.S. central bankers are mostly white men. The Fed wants to change that (Reuters)

Co-Ops / Employee Owned / Cooperative Economics (Ujamaa)

Industry Stories

Sports / Media / Entertainment

  • Hollywood is losing out on $10 billion in revenue every year by underfunding work by Black creators (Business Insider)
  • Black inclusion gap costs Hollywood $10 billion a year, report says (Los Angeles Times)
  • Why Triller’s Acquisition of Verzuz is a Big Business Win for Black Music, Especially Hip-Hop (Ebony)

Food / Restaurants / Bars / Hospitality

  • How this nonprofit is ‘Turning Tables’ for Black bartenders, tackling industry racial inequality (NOLA.Com) – There has been lots of discrimination in “the front of the house”. Turning Tables, which is referenced in the story, is working to fix the problem. Mino Foundation is also mentioned. Nice, long story. The BLS says 84% of bartenders are White.

Alcohol / Marijuana / CBD / Gambling

  • Meet the youngest Black woman dispensary owner in the U.S. breaking barriers in the cannabis industry (CBS News).
  • Black Entrepreneurs Are ‘Going Green’ With Cannabis Companies (Newsweek)
  • Constellation Brands Announces Commitment to Invest $10 Million in ‘Clear Vision Impact Fund’ to Support Black and Minority-Owned Businesses (GlobalNewsWire) – Press release
  • Brough Brothers Bourbon files false advertising lawsuit against Lexington company (Louisville Business First)
  • Uncle Nearest Is Now the Best-Selling African-American Owned and Founded Spirits Brand Ever (InsideHook)
  • African American Owned and Founded Uncle Nearest Premium Whiskey Achieves Sales Milestone of 1.5 million bottles (Bevnet)
  • Detroit overwhelmed by applicants for recreational marijuana shop licenses (The Detroit News) – 50% of license will go to “legacy” Detroiters.

Technology / Apps / Innovation

  • BIPOC students gain web design skills while building sites for Black-owned businesses (Geek Wire) – Black employees make up only 3.7% of web developers nationwide. Program seeks to help change this.

Finance / Investing / Venture Capital

  • Black Americans are not investing in the stock market, and it’s costing them (The Denver Channel).
  • Goldman Sachs Unveils $10 Billion Push to Invest in Black Women (Wall Street Journal)
  • Transcript: Race in America: Minority-Owned Businesses with Mellody Hobson, Co-CEO & President of Ariel Investments (Washington Post)
  • Legendary investor John Rogers Jr. wants you to have this money conversation with your kids (Fortune)
  • Black Investor Survey 2020 Press Release: New Ariel-Schwab Black Investor Survey Shows Black Americans Continue to Trail Their White Counterparts in Building Wealth (BusinessWire) – Press Release
  • States and DC examine Predatory Payday Lending (Washington Informer)

Real Estate / Finance / Development / Housing / Segregation

  • Black homeownership rate hits lowest level since the 1960s — that’s unlikely to change in Pandemic Year 2 (MarketWatch)
  • How Unfair Property Taxes Keep Black Families From Gaining Wealth (Bloomberg). Caused by the overvaluation of Black homes and the undervaluation of securing mortgages. 
  • It pays to get a 2nd home appraisal, especially if you’re a Black homeowner, hidden camera investigation shows (CBC) – Canada has a problem too.
  • A beach in LA Country, potentially worth up to $72 million, may go back to the descendants of the first Black owners (Becauseofthemwecan)
  • 5 road projects threaten long-established Black communities across the Lowcountry (Charleston Post and Courier) – You must own land to have agency.

Politics / Government / State and Local

  • Biden Bill’s Aid to Minority Farmers Spotlights Post-Trump Pivot (Bloomberg)
  • How $1.9 trillion COVID-19 relief bill aims to help Black and socially disadvantaged farmers (USA Today)
  • Treasury makes $9B investment in minority communities through Emergency Capital Investment Program (Augusta Free Press)
  • Two Decades After the ‘End of Welfare,’ Democrats Are Changing Direction (New York Times)

Law / Legal / Non-profits / Philanthropy / Non-Profit

  • Lightfoot proposes minority contracting reforms (Chicago Sun Times)
  • Black Media Alliance of NY hosts Black Economic Empowerment Talk (NY Carib News) – Only 2% of contracts in NYC go to Black firms.

HR / Personnel / Human Capital

  • DIVERSANT Acquires Atrilogy Solutions Group (PR Newswire)

Education / Healthcare

  • ‘A Lot of My Lower Ones Are Blacks’: Georgetown Law Adjunct Resigns Over Grading Comments (Law)
  • Howard University Receives $4.9M Grant For Music Business Center (NewsOne)
  • Former UPS executive raises pledge to Morgan State to $15 millions dollars total (African American Voice)
  • Spelman, Morehouse and Black Economic Alliance open center for Entrepreneurship (Because of them we can)

Farming / Agriculture / Food

  • Biden to Sign Bill with $4 Billion in Debt Relief for Minority Farmers (Agriculture)
  • The COVID-19 relief bill includes $5 billion in aid for farmers of color who have long faced discrimination by federal officials (Business Insider)

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

  • Marcia Fudge confirmed as first Black woman to lead HUD in more than 40 years (Washington Post)
  • The typical White business owner has over 2.5 times the liquid wealth of the typical Black business owner in each of the first four years. (JP Morgan Chase)

People / Motivation / Leadership / Success Stories / Ideas

  • Shalanda Baker and the energy crisis plaguing Black and brown Americans (NBC News). Baker dives deep into the energy injustice African Americans face.
  • Exclusive: Why this local recording artist started Black Men Ventures — and what it means for D.C.-area startups (Washington Business Journal)
  • Rebound: Business-ing While Black (NBC Bay Area) – Gourmonade owner Vicktor Stevenson reflects on racism
  • Lisa Wardell, Chairman and CEO of Adtalem Global Education Inc., was elected to Board of Directors at American Express (AfroTech)

All Other

Caribbean / Africa / International

  • African payments company Flutterwave is valued at $1 Billion (TechCrunch)

Travel / History

  • From buggies to buses, the first Black-owned US automaker did what few others dared (ARS Technica)

Classic / Old stories but good stories

Conservative / Alternative

  • The case against reparations Part II (Antelope Valley Press) – Larry Elder. We can’t do reparations because we don’t know who is responsible and who will pay?

Opinion

  • Opinion: D.C.’s build-build-build mind-set results in more gentrification (Washington Post)

Other

Story Digest for March 1st to March 7th 2021

The Great Migration doubled Blacks wages and removed the fear of daily racial terrorism, however, there was White backlash against the new migrants. Black men benefited the least in the great migration. CZ is commuting zone a US census term for geographical region. SD = Standard Deviation.

This week we have some interesting research from Ellora Derenoncourt. She studied the great migration of Blacks from the south to the north. Her research discovered that, while Blacks doubled their wages, White backlash against the migrants prevented upward mobility especially for Black men.

Top Stories

  • Rolling Up the Welcome Mat at the Door to the Promised Land: The Economic History of the Great Migration and Its Aftermath (Dollars & Sense) – White backlashed crushed Black men’s chance at upward mobility. (More links in “Black Economics” section)
  • Should Black Northerners Move Back to the South? (New York Times)
  • Powell’s Dashboard Shows How Far U.S. Economy Has to Go on Jobs (Bloomberg) – Nice to see the fed is watching Black unemployment, low wages and non-collage workers.
  • Treasury to Invest $9 Billion in Minority Communities (New York Times)
  • Mass incarceration is causing Black communities to lose billions in earnings (The Grio). It is estimated that formerly incarceration Black people lose out on more than $1.6 billion per year.
  • Why I’m suing McDonald’s for discrimination along with 76 other Black former franchisees (Business Insider)
  • Student Debt and the Disregard for the Black Middle Class (Bloomberg)
  • Black-Owned Vegan Meat Company Strikes $300K Deal With Mark Cuban (The Beet)

All Stories

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • House Passes $1.9 Trillion Stimulus Bill, How Soon Will The Black Community Receive A Check? (Forbes)
  • Treasury to Invest $9 Billion in Minority Communities (New York Times)
  • ‘What are you supposed to do?’ Black restaurant owners discuss surviving Covid-19 (Boston Business Journal)

Jobs / Workers / Unemployment / Gig Economy

  • Powell’s Dashboard Shows How Far U.S. Economy Has to Go on Jobs (Bloomberg) – Nice to see the fed is watching Black unemployment, low wages and non-collage workers.
  • Based On Historical Trends, The 2021 ‘Shecession’ Might Give Rise To Female Entrepreneurship (Forbes)
  • White House downplays surprising February jobs gain, warns US far from recovery (The Hill)
  • Lt. Gov. Molly Gray: Vermont women are in economic crisis, and the FAMILY Act is a solution (Bennington Banner) — Out of the 140,000 jobs that the U.S. economy lost in December, all were lost by women, particularly Black and Latina women.
  • Five takeaways from the February jobs report (East Oregonian)
  • Biden’s Stimulus Is the Dawn of a New Economic Era (Foreign Policy)
  • Jump in hiring fuels optimism for US economic recovery, though Black employment lags (The Grio)
  • Black and Hispanic women aren’t sharing in the job market recovery (CNBC)
  • Study: 95 years needed for Black workers to reach talent parity (Benefits Pro)

Inequality / Systemic Racism / Economic Justice

  • Mass incarceration is causing Black communities to lose billions in earnings (The Grio). It is estimated that formerly incarceration Black people lose out on more than $1.6 billion per year.
  • Black and Latino directors largely missing from Illinois corporate boards, diversity report finds (Pantagraph)
  • Black women are missing in the UK’s top 1% (LSE) — UK-born Black women are the most under-represented in the top percentile of incomes.
  • Biden stimulus showers money on Americans, sharply cutting poverty and favoring individuals over businesses (Washington Post)
  • New stimulus proposals look like a guaranteed income experiment. Early results show whether it will work (CNBC)

Black Business

Black Business General / Interesting Businesses Stories

  • Black and Mobile: A delivery service for Black-owned restaurants (Fast Casual)
  • Rebound: Keeping Lemonade Dreams From Turning Sour (NBC Bay Area)
  • From A 29-Year-Old Record-Label Founder To An Ed-Tech Entrepreneur: 10 Standout Black Small Business Owners From The Next 1000 (Forbes)
  • She wanted to open a joyful plant shop. It’s now a refuge for the pandemic-weary (Los Angeles Times) – Shawna Christian’s flower shop especially popular with a younger generation of girls.
  • Black-Owned Vegan Meat Company Strikes $300K Deal With Mark Cuban (The Beet)
  • Named To Honor Black Wall Street, 1921 Business Incubator Brings Co-Working Space, Startup Support To Far South Side (Block Club Chicago)
  • Black-owned construction firm thrives under fifth generation leadership (Philadelphia Tribune)
  • Black business owners must overcome obstacles to have a chance at building wealth (ABC News) — Once thriving centers of Black-owned businesses are seeing a revival.
  • Black business leaders in Columbus see progress, want more inclusion in business sector (The Columbus Dispatch)

Black Business Specific

  • This Black-owned tea brand has seen a boom in sales because of ‘Bridgerton,’ its owner says (CNN) – Netflix series gives tea brand a boost
  • Fire Damages Jones’ Bar-B-Q, a Historic Black-Owned Business (New York Times) – Online fundraiser launched to help business damaged by fire.

Big Business / Corporate

  • Amazon Workers’ Union Drive Reaches Far Beyond Alabama (New York Times)
  • Google’s approach to historically Black schools helps explain why there are few Black engineers in Big Tech (Washington Post) – Damn right.
  • Companies declared ‘Black lives matter’ last year, and now they’re being asked to prove it (Market Watch)
  • PayPal (PYPL) Offers Support to Black Community With Tie-Ups (Nasdaq)
  • U.S. Bank Launches New Approach to Build Wealth and Create Access for Diverse Communities (Tennessee Tribune)

Discrimination

  • Race discrimination lawsuit says Amazon “de-levels” employees of color (CBS News)
  • US agency probes Facebook for ‘systemic’ racial bias in hiring, promotions (Business Today)
  • Why I’m suing McDonald’s for discrimination along with 76 other Black former franchisees (Business Insider)
  • Labor Nominee Faces Scrutiny Over Boston’s Contracting Practices (Wall Street Journal)
  • Small Business Contract Discrimination (Investopedia) — Procurement and access to financing are two barriers that minority owners face
  • A Black manager at Amazon Web Services is suing her own employer, alleging management fostered ‘shocking racial insensitivity’ and left her vulnerable to sexual assault (Insider)

Reparations / Affirmative Action / Diversity / Inclusion

  • America’s ‘anti-affirmative action’ industry (Al Jezeera) – Affirmative action support (Prop 16) failed in California in November, 2021
  • ‘There Is a Bigger Role’: A C.E.O. Pushes Diversity (New York Times) — Tim Ryan, the senior partner at PwC, has spent the past five years trying to make his company a model inclusive workplace, and advocating for more diversity in the rest of corporate America.
  • Resources for BIPOC-owned natural products businesses (New Hope) — In an effort to bridge the success gap between white and minority-owned businesses, a number of groups are stepping forward to offer capital, networking and other resources for BIPOC business owners.
  • State’s novel relief fund for Black Oregonians provided help to thousands even as it faced legal challenge: ‘It saved my life’ (The Oregonian) – Very important case in Oregon.  Can they target relief to African-Americans.
  • Meet the woman on a mission to have retailers commit 15% of their shelf space to Black-owned brands (CBS News)                             

Economics

Black Economics

  • Rolling Up the Welcome Mat at the Door to the Promised Land: The Economic History of the Great Migration and Its Aftermath (Dollars & Sense)
  • For Black History Month: The Economics of the Great Migration. An interview with Ellora Derenencourt. (Dollars and Sense) – Northern cities failed Black people. While Black people who move north doubled their wages, they found prejudice and White flight.
  • Can you move to opportunity? Evidence from the Great Migration (Harvard University) – The actual paper and slides. You have to read the slides.  

To summarize, the White backlash to the Great Migration resulted in White flight, segregated neighborhoods, unfunded school and reduced economic opportunity. Reduced opportunity led to higher crime.  Black men were the worst affected. About 30% of the Black – White wealth gap can be explained by the Great Migration backlash. Wow.

  • ‘The Rosa Parks of Wall Street’ (New York Times) — Remembering Vernon Jordan, the civil rights leader turned corporate power broker.
  • The U.S. Needs a Third Reconstruction — and Business Should Lead It (Harvard Business Review) — The stage is set for a New Reconstruction led by corporate America.
  • Lack of disaggregated data clouds economic recovery for Black communities (Yahoo Finance)
  • I reported on Soul City in the 1970s. (Charlotte News Observer)

Straight up Econ / The Economy

  • Jump in hiring fuels optimism for US economic recovery (Alpena News)
  • Biden Presses Economic Aid Plan, Rejecting Inflation Fears (New York Times)

Co-Ops / Employee Owned / Cooperative Economics (Ujamaa)

Industry Stories

Sports / Media / Entertainment

  • Magic Johnson: ‘People want to see America change’ (ABC)
  • The Most Influential African American Sports Executives In The SF Bay Area (Oakland News Now) – a huge list of current and former sports executives.  If you want to start a sports management career, I would contact someone on the list.

Alcohol / Marijuana / CBD / Gambling

  • Keeping Black Wine Professionals Up Front And Center (Forbes) – Growth opportunity.
  • Black Wine Professionals Website is here.
  • Black vintners getting broader support in making industry more diverse (Press Democrat)
  • South Jersey couple, rum enthusiasts, opens brand-new distillery (WPVI)

Beauty / Fashion / Retail

  • Black Images and the Politics of Beauty (JSTOR Daily) — How Black-owned charm schools and modeling agencies challenged stereotypes of African American women after World War II.

Finance / Investing / Venture Capital

Real Estate / Finance / Development / Housing / Segregation

  • What does child opportunity look like in your metro? (DiversityDataForKids.org)
  • Gaps in Black and white home ownership transcend a booming market and threaten to leave some behind (Pittsburgh Post Gazette)
  • Georgia’s Dekalb County is Building a Black Wall Street Market to Boost Black and Brown Businesses (AfroTech)

Cities / Urban Planning / Local Government

  • Data shows inequities span cradle to grave for local Black residents (Dayton Daily News)
  • What does child opportunity look like in your metro? (DiversityDataForKids.org)
  • As Aurora deals with uptick in violent crime, activist alliance members say they are working to provide solutions (Chicago Tribune)

Politics / Government / State and Local

Where Jill Biden drops by for a cup of coffee can make quite a statement (Washington Post)

  • Fight for the Harriet Tubman $20 Bill Victorious. The Biden Administration announced it will take swift action to place Tubman’s image on the bill. (The Good Men Project)

Education / Healthcare

  • Student Debt and the Disregard for the Black Middle Class (Bloomberg CityLab) — By ignoring racial wealth disparities in solutions to the student debt crisis, Joe Biden is abdicating his commitment to address discrimination.
  • Louisiana’s HBCUs Have a Lasting Impact (Big Easy Magazine)

Farming / Agriculture / Food

  • A food historian is using TikTok to try to make Black Food Fridays the next Taco Tuesday (Insider)
  • How to develop the next generation of Black agriculturalist (Enid News)
  • Black farmers see possibilities in agricultural roots, but historical inequities pose hurdles (Daily Journal)
  • Black-owned soft serve ice cream truck Sweet Mama’s (re)opens in Tampa this weekend (Creative Loafing)

Other

  • First Black owned gun shop opens in Indianapolis IN (WTHR)
  • How outdoor brands can widen their appeal (Vogue Business) – Extra White outdoor brands are trying to promote diversity.

People and Careers

People / Motivation / Leadership / Success Stories / Ideas

  • The Elite 100: A Tribute To Black Women Executives (Diversity Woman) – Interesting list of corporate executives
  • Ed Baine is Dominion Energy’s first Black president (WTVR) – Richmond
  • Reggie Webb Empowers Black Entrepreneurs Through Nonprofit (Spectrum Inland Empire)
  • Kevin Cohee explains how Black people can build wealth to last for generations to come. (BET)

All Other

Travel / History

  • Jackson Ward Collective serves Richmond’s Black entrepreneurs, partners with VCU students (Commonwealth Times) — Three Black female entrepreneurs are working to reclaim wealth for Richmond’s Black community through the Jackson Ward Collective.
  • John H. Johnson: Changing Publishing – and History (This is Capitalism) – Weird, pro-capitalism website with biographies.
  • How Philadelphia’s Black churches overcame disease, depression and civil strife (Generocity) – Surviving the 1930s-economic crisis.
  • Greenwood: Rebirth (TulsaPeople) – Long story about some of the people and businesses affected by the Tulsa Massacre in 1921.

Classic / Old stories but good stories

Conservative / Alternative

  • NY Fed Study Finds Biden-Harris ‘Equity’ Proposal Would Make Racial Inequality Worse (FEE)

Opinion

  • Hiring for Diversity Puts New Cities in the Limelight (Bloomberg)
  • N.J.’s economic recovery must include Black-owned business | Opinion (NJ)
  • How the tech community can hire more people of color and help erase the digital divide | Opinion (Sun Sentinel)

Other

Stories for Feb 22nd to 28th 2021

Adenah Beyoh

Lately, Adenah Beyoh has been everywhere in the news (AdenahBeyoh.Com). It really proves that real estate is one of the best ways to get rich.

Top Stories

  • Lately, Adenah Beyoh has been everywhere in the news (AdenahBeyoh.Com).  Bayoh cuts ribbon on IHOP location in downtown Newark (ROI-NJ). Weequahic HS Alum, Business Owner Making Her Mark In Newark (Patch)
  • Bias, disrespect, and demotions: Black employees say Amazon has a race problem (Vox)
  • The Bull Market in Stocks Has Blown Past Many Black Americans (Bloomberg). Although younger Black people are getting more involved in stocks, overall stock ownership is down. Ariel-Schwab Black Investor Survey.
  • How This Black Woman Is Killing It In The Casino World (Forbes) Melonie Johnson is the first Black woman to run a casino in Atlantic City.
  • Black moms facing the toughest childcare crunch: How policy can help (Brookings)
  • Black owned QCS Logistics cashes out for an estimated $15 million (3x revenue) to Dropoff inc.(Nola.com) — Why the sale of this New Orleans East business is bittersweet for the Burns family. QCS grew from one-car outfit into regional service making 1,000 deliveries daily
  • Employers Want More Diversity. They May Need to Open Offices in New Places. (Wall Street Journal) – Geographic discrimination is at the core of the “Black Wealth Gap.” Here’s another example. It’s difficult to recruit a diverse workforce in an all-White suburb.  We keep reporting these “Duh? Really” stories, but it’s really just racism and White people running away from Black people.
  • Alabama’s aging Black farmers uncertain about future as they struggle to create lines of succession (Gadsden Times)
  • Black Bodega in Bronx celebrates grand opening and brings jobs to a struggling community (AMNY)

Stories 

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • Black businesses failing at sobering 40 percent rate during pandemic (News4SA)
  • Biden Changes PPP Rules to Help the Self-Employed (New York Times). The changes are made tweaks PPP loans to help increase funds for those who share a small percentage smallest of the relief money, which includes women and Black women. small businesses (mLive)
  • Black Owned cosmetic company, Mented, survives pandemic (NBC Philadelphia)

Jobs / Workers / Unemployment / Gig Economy

  • Fed and Treasury chart path back to “full employment” (Marketplace)
  • Unemployment Crisis Hits Black Older Workers Hard (AARP)

Inequality / Systemic Racism / Economic Justice

  • Sexism in economics has implications far beyond academia (Fortune)
  • How Can Economic Justice Help Us Achieve Racial Justice? (Global Citizen)
  • Report examines challenges of Black professionals in corporate America (Philadelphia Tribune)
  • Study: Companies need to do better at addressing Black attrition in workplace (Business Report)
  • These 15 charts show the inequalities Black Americans still face (Business Insider) – Updated with covid-19 information
  • Uneven Covid Recovery Is Widening Racial Wealth Gap. Why Black Americans Investing in the Market Is at a Low Point. (Barron’s)
  • My View: Making credit options more accessible to Black business owners critical (Phoenix Business Journal) — Black-owned small businesses are closing at nearly twice the rate of the industry placing a spotlight on the lack of access to credit.

Black Business

Black Business General / Interesting Businesses Stories

  • Black female small business owners reveal their top advice, lessons learned (Yahoo News)
  • Black businesses making a difference in their communities and thriving despite COVID-19 (CBS News)
  • To this baker, promoting Black food businesses is more than just lip service (Washington Post)
  • Black-Owned Food Businesses Can Use Navy Yard Kitchen Space Rent-Free Under a New Program (DC Eater) — Uber Eats is actually putting their controversial commissions to good use with a sponsorship at Sandlot Southeast
  • Focus on Black-owned Businesses: Akron’s Tea Lady is third of five generations of entrepreneurs (Akron Beacon Journal)
  • In Gentrifying Atlanta, Black-Owned Food Businesses Are Banding Together to Survive—and Thrive (Yahoo Life)
  • Providing support for Black-owned businesses during Black History Month (KGW)
  • Top Black-Owned Products to Know (Consumer Affairs)
  • 90 Gifts From Black-Owned Businesses to Give This Year (Vogue)
  • How a Food Business Incubator Is Building Black Economic Strength in Minnesota (Civil Eats)
  • Three ways business can empower the Black family (Fortune)

Black Business Specific

  • Buy Black Trend Sees Staying Power With Corporate America Buy-In (Business of Fashion)
  • Brothers Offer Food Delivery Service from Black-Owned Restaurants (People) — Black and Mobile, founded by David Cabello and launched in 2019, serves customers in Atlanta, Baltimore, Detroit and Philadelphia
  • 5 Black-owned Brockton businesses you can support amid COVID and this Black History Month (The Enterprise) – Featuring Brockton restaurants and Brockton Beer Company
  • Focus on Black-owned businesses: Tallmadge woman capitalizes on charcuterie hobby (Akron Beacon Journal) – Home catering business featuring beautiful platters
  • Black owned QCS Logistics cashes out for an estimated $15 million (3x revenue) to Dropoff inc.(Nola.com) — Why the sale of this New Orleans East business is bittersweet for the Burns family. QCS grew from one-car outfit into regional service making 1,000 deliveries daily
  • Company Is One Of The Fastest Growing Businesses In The Country (Shoppe Black)

Big Business / Corporate

  • JPMorgan reveals the latest part of its $30 billion commitment to support Black and brown communities (Business Insider). This investment is the largest racial commitment by a corporation and it will address the closures of Black businesses and affordable housing.
  • DoorDash Establishes Grant Program For Women- And BIPOC-Owned Restaurants Disproportionately Affected By Covid (Forbes). This program will provide financial support and educational resources to Black businesses and others.
  • Louisville part of national push to support Black-owned businesses (Louisville Business First) — The program represents a $7.5 million investment into Black-owned businesses across the country.
  • LIT Brooklyn founder, Denequa Williams Clarke, Chats Business with the Hosts of Black Girl Podcast (Yahoo Finance)
  • Vimeo and Mailchimp Shine a Light on Black-Owned Businesses (Muse)
  • Jennifer Hudson Teams Up With Mastercard To Lead Initiative For Black Women Entrepreneurs (News One)
  • The First Is Always Last: The Scarcity Of Black CEOs In Corporate America (Forbes)

Discrimination

  • Bias, disrespect, and demotions: Black employees say Amazon has a race problem (Vox)
  • What’s Keeping Black Workers From Moving Up the Corporate Ladder? (Wall Street Journal)

Reparations / Affirmative Action / Diversity / Inclusion

  • Employers Want More Diversity. They May Need to Open Offices in New Places. (Wall Street Journal) – Geographic discrimination is at the core of the “Black Wealth Gap.” Here’s another example. It’s difficult to recruit a diverse workforce in an all-White suburb.  We keep reporting these “Duh? Really” stories, but it’s really just racism and White people running away from Black people.
  • Amid Black History Month Drops, Brands Discuss Diversity Efforts Beyond Product (WWD)
  • Has Black Lives Matter really helped African brands? (Vogue Business)
  • HP Inc’s Chief Diversity Officer (Diginomica)
  • As agencies drag their feet on diversity, some Black creatives take matters into their own hands (MM&M)
  • ‘Slavery ended over 130 years ago’: Former NFL player Herschel Walker says Black Americans shouldn’t get reparations (Business Insider)
  • What companies can do to speed up board diversity (Vox)
  • How To Level The Financial Playing Field For Women- And Minority-Owned Businesses (Forbes)
  • Google’s program for Black college students suffered disorganization and culture clashes, former participants say (CNBC)
  • Some ex-participants criticized a key Google scheme for Black students, saying it is riddled with issues (Business Insider)
  • At Disney, Black cast members are leading efforts for more diversity, inclusion (Atlanta Voice) – If you want to understand race in the corporate world, look at Disney.

Economics

Black Economics

  • The Black Woman Economist Who Pioneered a Federal Jobs Guarantee (INET)  — Institute for new economic thinking.  Sadie Alexander.
  • Whatever Happened to ‘Black Capitalism’: keynote speaker examines the past to find solutions for the present (The Sunflower) – Dr. Robert E Weems Jr. is a well known Black business historian.
  • These 15 charts show the inequalities Black Americans still face (Business Insider) – Updated with covid-19 information
  • The student debt forgiveness debate highlights the racial gap in what borrowers owe (CNBC)
  • The Bull Market in Stocks Has Blown Past Many Black Americans (Bloomberg). Although younger Black people are getting more involved in stocks, overall stock ownership is down. Ariel-Schwab Black Investor Survey.
  • Sexism in economics has implications far beyond academia (Fortune)
  • How Can Economic Justice Help Us Achieve Racial Justice? (Global Citizen)

Straight up Econ / The Economy

Co-Ops / Employee Owned / Cooperative Economics (Ujamaa)

  • South Mississippi business leaders starting Black-owned co-op (WLOX) – A co-working and event space. That’s a tough business.

Industry Stories

Sports / Media / Entertainment

  • OWN’s Newest Reality Series ‘Belle Collective’ Puts Black Female Entrepreneurs on the Map (Cheatsheet) – Black Women in Jackson, MS
  • Colin Kaepernick Targets a Socially-Driven Billion-Dollar Company With New SPAC (Black Economics UK)
  • Inside Chris Webber’s Mission to Help Black Entrepreneurs (Sports Illustrated)

Marketing / Advertising / Sales / Consumer Behavior

  • How This Black Woman Is Killing It In The Casino World (Forbes) Melonie Johnson is the first Black woman to run a casino in Atlantic City.

Alcohol / Marijuana / CBD / Gambling

  • While much of the country is at a standstill, the cannabis industry is hiring (Inlander). 
  • Black Brewers Make Their Mark In Craft Brewing Industry (Forbes)
  • Black-owned Lehigh Valley distiller Russell Fletcher looks to grow in Pa. and beyond (The Morning Call)
  • Urban One teams with Colonial Downs owner on $517 million casino resort in Richmond (Richmond Times Dispatch)
  • Trotwood wine cellar grows from childhood hobby (Dayton Daily News)

Beauty / Fashion / Retail

  • Nailed it: From Harlem to Hollywood, celebrity nail tech wants to inspire more Black people to join the field (NY Daily News)
  • Major Retail Chains Are Committing To Partnering With Black Designers (Forbes)
  • SheaMoisture And BROWN GIRL Jane Expand Their Support Of Black-Women Owned Businesses (Hello Bueatiful)

Technology / Apps / Innovation

  • This Google Maps feature highlights which San Antonio businesses are black-owned (My SA)
  • Bank of America Helps Fuel Black Innovation with Launch of the Center for Black Entrepreneurship In Partnership with Morehouse College, Spelman College and the Black Economic Foundation, Alliance, (Press Release) — The Initiative is Powered by a Two-Year $10 Million Grant

Finance / Investing / Venture Capital

  • 6 Black Financial Pros to Follow in 2021 (NerdWallet)
  • 8 Black financial advisors specializing in best practices and wealth management (Manchester Link) – New Hampshire
  • Black and LatinX female founders received record funding last year, but still got less than 1% of total venture funds (Business Insider)
  • More banks are key to minority business growth [column] (Lancaster Online)
  • Banks redouble efforts to aid Black-owned businesses (American Banker)
  • Ariel Investments, a Black-Owned Mutual Fund Secures $200 Million To Fund ‘Project Black’ Initiative (InvestingPort)
  • Chicago-based Ariel Investments launches ‘Project Black’ to grow minority-owned businesses with $200 million from JPMorgan Chase (Chicago Tribune)
  • Analysis: For Black founders, venture funding remains elusive despite new funds (Reuters) – a review of VC investing in Black firms.
  • For Black-owned businesses, venture capital still elusive (CS Monitor)
  • Black History Month: Blacks face challenges rising in financial and banking fields (Sun Sentinel)
  • New OP neobank raises $5M, aims to bolster Black financial livelihood (Kansas City Business Journal)

Real Estate / Finance / Development / Housing / Segregation

  • The Promise Of briefs: Report shows Black homeownership far short of national rate; Small business grant program launched (Triangle Business Journal)
  • South Florida by the numbers: Black achievement in real estate and business (Real Deal)
  • Over-The-Rhine: Is this a model for urban renewal or a warning sign? (BBC News)
  • PREIT Launches Initiative to “Support Black-Owned Business and Brands 365” (Press Release) – PREIT – Real Estate Investment Trust owns a bunch of small shopping malls in Black areas and is spotlighting Black business at their malls. Everyone is making money off Black people.
  • PREIT.COM  — Website has a list of properties and locations
  • Rapid development risks erasing Black homeownership legacy in Charlotte  (Greensboro News Record)
  • Mapping Charlottesville plots a history of racial discrimination through Charlottesville property deeds (Daily Cavalier) – University of Virginia

Politics / Government / State and Local

  • Black legislators to push for more government contracts for ethnic minority-owned businesses (Minneapolis Business Journal) — A group of Minnesota Black legislators want 15% of all government contracts to go to businesses owned by entrepreneurs of color.
  • Remarks by President Biden on Helping Small Businesses (White House)

Education / Healthcare

Farming / Agriculture / Food

  • Black-Owned Farms Are Holding on by a Thread (Eater)
  • Alabama’s aging Black farmers uncertain about future as they struggle to create lines of succession (Gadsden Times)
  • Black Bodega in Bronx celebrates grand opening and brings jobs to a struggling community (AMNY)

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

  • The new face of entrepreneurship (OZY)
  • Focus on Black-owned businesses: Tallmadge woman capitalizes on charcuterie hobby (Akron Beacon Journal) – Home catering business featuring beautiful platters
  • Entrepreneurship is the key to building Black wealth in America. 4 cities are leading the way in supporting business owners. (Business Insider)

People / Motivation / Leadership / Success Stories / Ideas

  • Lately, Adenah Beyoh has been everywhere in the news (AdenahBeyoh.Com)
  • Meet the New Jersey woman who owns over $200 million in real estate and several restaurants (Black Enterprise)
  • Bayoh cuts ribbon on IHOP location in downtown Newark (ROI-NJ)
  • Weequahic HS Alum, Business Owner Making Her Mark In Newark (Patch)
  • Crystal Turner-Moffatt Leads from Center Stage as the Safety Diva (EHS Daily Advisor) – A great career if you can cut it.
  • 25 Black businesspeople who helped shape America (KAKE)
  • Meet 10 More Black Women Entrepreneurs Preparing To Win Big For Their Businesses (Essence)
  • Black owned QCS Logistics cashes out for an estimated $15 million (3x revenue) to Dropoff inc.(Nola.com) — Why the sale of this New Orleans East business is bittersweet for the Burns family. QCS grew from one-car outfit into regional service making 1,000 deliveries daily

All Other

Caribbean / Africa / International

  • Africa’s economy could grow 10% by taking women more seriously (Quartz Africa)

Travel / History

  • Black Broadway in DC: A New Book Explores the Undeniable Influence of U Street’s History (Washingtonian) — Bustling nightlife, thriving Black-owned businesses, and brilliant minds.
  • Historically Black Neighborhood Slowly Rebuilds Its Entrepreneurial Community (Spectrum News) – Corey Purdie wants to help revamp Broad Street
  • Black business owners fight to restore culture in Portland’s historic Albina neighborhood (Denver Channel) – Albina was once hub for African Americans until gentrification.
  • Thaddeus Tate, one of Charlotte’s most prominent Black businessmen of the early 1900s (WCNC)
  • A century before civil rights, Black oystermen in Suffolk forged economic independence (Virginian-Pilot)

Opinion

  • Black businesses support raising the minimum wage. Why doesn’t the rest of Corporate America? (CNBC)

Other

  • Black moms facing the toughest childcare crunch: How policy can help (Brookings)

Stories Feb 15th to 21st 2021

Four states and D.C. had labor force that was more than 30 percent African American in 2020 (Bureau of Labor Statistics)

Top Stories

  • Rep. Ayanna Pressley, Black Economists Back Federal Job Guarantee Resolution (NewsOne). Rep. Ayanna Pressley Calls for a Federal Job Guarantee for All Americans (Bloomberg). Creating federal work programs will help combat the high unemployment rate.
  • Black Families Have a Major Stake in the Future of the Postal Service (Inequality). Could the postal service close the racial wealth gap by providing financial services to the public.
  • Beyoncé Put this Black Woman-Owned Skateboard Company on the Map (Bloomberg)
  • Reparations for slavery could have reduced Covid-19 transmission and deaths in the US, Harvard study says (CNN). Reparation made before the pandemic would have reduced the number of cases by 31% to 68% in Louisiana.
  • Investors are missing out on Black founders (TechCrunch)
  • Four states and D.C. had labor force that was more than 30 percent African American in 2020 (Bureau of Labor Statistics)

Stories

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • House Stimulus Package Proposal Pares Federal Unemployment Benefits By $1,600; Keeps Income Thresholds For Full $1,400 Stimulus Check (Forbes)
  • Black small-business owners are being left behind in the pandemic, survey finds (CNBC). Only 37% of Black businesses say they can survive under the pandemic restrictions for more than a year.
  • Understanding The Reopening Of The Paycheck Protection Program (Forbes)
  • Comcast launches grant program for businesses economically impacted by COVID- 19 (Philadelphia Tribune)
  • Black leaders want targeted federal funds for Black businesses hit hard by pandemic (CNN)
  • Latest Round Of PPP Could Better Benefit Black-Owned Businesses (KMUV)

Jobs / Workers / Unemployment / Gig Economy

  • Rep. Ayanna Pressley, Black Economists Back Federal Job Guarantee Resolution (NewsOne). Rep. Ayanna Pressley Calls for a Federal Job Guarantee for All Americans (Bloomberg). Creating federal work programs will help combat the high unemployment rate.
  • Black Families Have a Major Stake in the Future of the Postal Service (Inequality). Could the postal service close the racial wealth gap by providing financial services to the public.
  • GM helped propel Black workers into the middle class (Herald Bulletin)
  • How economists see Biden’s $15 wage proposal (PBS)
  • Unemployment Continues to be Highest for Women of Color (The 19th)
  • Four states and D.C. had labor force that was more than 30 percent African American in 2020 (Bureau of Labor Statistics)

Inequality / Systemic Racism / Economic Justice

  • Rethinking Policy for Black America (Vox) — These policies can help dismantle inequities in education, housing, health, policing, and more.

Black Business

Black Business General / Interesting Businesses Stories

  • Black-Owned Businesses Hold the Key To Reenergizing Miami’s Overtown (Thrillist)
  • This New Union Market Store Is a “One-Stop Experience for Shopping Black-Owned” (Washintonian)
  • Original Black Panther member creates trailblazing community organizations in Oakland (ABC)
  • Ariel to invest in minority-owned businesses with $200M from JPMorgan (Chicago Business Journal)
  • How These Black-Owned Businesses Carved Their Own Path in Local Communities Amid the Pandemic (Inside Edition)
  • Being Black-owned helped this uptown Charlotte restaurant survive during COVID (Charlotte Observer)
  • Shawn Michelle’s is serving a community along with artisan ice cream — how Chicago’s Black-owned restaurants are faring during pandemic (Chicago Tribune)
  • As ‘a love letter to Black women,’ tea shop on KC dividing line empowers community (Kansas City Star) – Nika’s tea shop is dedicated to the peace and mind of Black women.
  • In A State Where Entrepreneurship Lags Among People Of Color, Some Promising Signs (WFYI)
  • Black Business Spotlight: Mind’s Eye Comics (MSR) – Childs is on a quest to
  • promote Black authors, creators, and writers.
  • Even with Biden stimulus, US minority entrepreneurs fear for survival (Yahoo Finance)
  • In A State Where Entrepreneurship Lags Among People Of Color, Some Promising Signs (WFYI) – Indianapolis. The only remaining Black business in the state finally got a PPP loan.
  • 25 Black businesspeople who helped shape America (Tuscon.Com)
  • The new face of Entrepreneurship (OZY) – a collection of stories about Black businesses.
  • Minorities struggle to become entrepreneurs in Utah, report says, and pandemic makes it tougher (KSL)

Black Business Specific

  • Beyoncé Put this Black Woman-Owned Skateboard Company on the Map (Bloomberg)
  • Carrying a Legacy: Lafayette County’s oldest active Black-owned business (Oxford Eagle)
  • Diversified Chemical Technologies, Inc., African American Owned Manufacturer in the City of Detroit, Celebrates 50 Years In Business And Appoints New President To Lead The Company (Michigan Chronicle)
  • Brewers and filmmaker look to increase diversity in craft beer industry (TMJ4)

Big Business / Corporate America / PR

  • Apple launches inaugural Entrepreneur Camp for Black Founders and Developers (Apple Newsroom)
  • Aunt Jemima gets rebranded by PepsiCo (The Ticker)
  • Wells Fargo Provides $5 million to Local CDFIs to Help Small Businesses Impacted by COVID-19 (Norwood News)
  • PNC Bank commits $1 billion ‘to help end systemic racism’ (Denver Business Journal)
  • Marty Walsh promised 25% Of Boston’s Contracts To Go To Women, Minority-Led Firms (WBZ) – At least 15% to women owned firms and 10% to minority owned firms.
  • Boston’s new contracting goal could steer an additional $160 million to entrepreneurs of color over the next few years (Boston Globe)

Discrimination

  • Herb Washington, Black franchisee, accuses McDonald’s of racial discrimination (CBS News)
  • Minority groups file discrimination complaint against Boston over contract procurement (Boston Herald)
  • Black North Carolina firefighters file discrimination suit (AP)
  • Google to provide digital skills training for 100,000 Black women (Google) – Starting with sororities
  • I breastfed all 10 of my kids. Black moms need better nursing policies in the workplace (Tallahassee Democrat)
  • LinkedIn Research Shows Nearly 50% Of Black Professionals Have Faced Discrimination At Work (CBS Miami)
  • New Study Shows That Nearly Half Of Black Professionals Have Faced Blatant Discrimination At Work (Essence)

Reparations / Affirmative Action / Diversity / Inclusion

  • House subpanel to hold hearing on reparations for Black Americans (The Hill)
  • Biden backs reparations study, as House Dems push for commission (Moultrie Observer)
  • Reparations for slavery could have reduced Covid-19 transmission and deaths in the US, Harvard study says (CNN). Reparation made before the pandemic would have reduced the number of cases by 31% to 68% in Louisiana.
  • Companies have been trying (and failing at) diversity training for 50 years (Fast Company)
  • Twitter commits that 25% of its executives will be minorities or women by 2025 (CNBC)
  • Mastercard Introduces Strivers Initiative To Support Black Women-Owned Businesses (PYMNTS)
  • This Wall Street veteran is working to bring diversity to corporate America (CNBC)

Economics

Black Economics

  • Four states and D.C. had labor force that was more than 30 percent African American in 2020 (Bureau of Labor Statistics)
  • Economic Recovery Must Center Black Workers (The Center for Law and Social Policy)
  • Arthur Lewis is mentioned in a story about developmental economics (Millennium Post)
  • State of Black New York: Income inequality and race (Radio) – Several stories about economic inequality in NYC. Canidate Kathryn Garcia suggests jobs and workforce development.
  • In-depth: Why minorities say it’s harder to start and grow a business (ABC Action News)
  • Baby bonds could shrink the Black-white wealth gap (Vox)
  • Business is Education (Evanston Roundtable) — Facebook group launched to raise money for local Black-owned businesses shifted its focus raise awareness for African-American education.

Research

  • Library of Congress
  • African Americans in Business and Entrepreneurship: A Resource Guide (LOC) – Library of Congress
  • African Americans in Science and Business Blog (LOC)
  • African Americans in Business and Entrepreneurship: A Resource Guide (Teaching Resources)

Industry Stories

Sports / Media / Entertainment

  • Long story about Project to Preserve African American Turf History (Thoroughbred Daily) – Black in the horse racing industry.
  • HBCUs are landing top recruits — but systemic change requires something more (Washington Post)
  • New ‘Green Book’ Showcases Black Contributions To Today’s Comics Business (Forbes)

Alcohol / Marijuana / CBD / Gambling

  • The Cannabis Industry Has a Chance to Change the World (Green Entrepreneur). The industry is looking to destigmatize cannabis for Black people and businesses.
  • 32% Cannabis Job Growth In 2020, Despite COVID-19 (The Fresh Toast)
  • Legal marijuana jobs booming, study finds (The Hill)
  • Guidance Whiskey Owner is Helping to Lift Up Other Black Businesses in Nashville (Thrillist)
  • Black And Female Winemakers You Can Support Today: An Interview With Ruben Morancy Of Adams Wine Shop (Forbes)

Beauty / Fashion / Retail

  • Highlighting a San Diego Black Hair Care pioneer (CBS)
  • What four Black, female business owners have to say about representation in the beauty industry (Fox 43) – While representation in beauty industry has improved, there is still much work to be done.

Technology / Apps / Innovation

  • Blackistory: Milwaukee-based Family Business Launches Educational Black History App For Mobile Devices (Milwaukee Independent)
  • Google feature aims to make finding Black-owned businesses easier (ABC) – Businesses now have the chance to add ‘Black-owned attribute’ via Google Merchant Help Center
  • Black Woman Leads Charge for Change Among Silicon Valley Entrepreneurs (Yahoo news /CBS San Francisco)

Finance / Investing / Venture Capital

  • Investors are missing out on Black founders (TechCrunch)
  • St. Pete investment firm with new minority focus closes first funding round (Tampa Bay Business Journal)
  • Seedfunders Opportunity Fund (Seedfunders) – Funding to support Black business
  • Tri-State Bank brings in interim CEO, marking its fourth leadership change in five years (Commercial Appeal) – Memphis.  If you want to know how hard it is to run a Black bank with a dwindling customer based., look no further.
  • NJ Forty Acres and a Mule fund launched to support  Black and Latinx Businesses (NJ TapInto) – NJ FAM Fund
  • Ariel Investments, America’s First Black-Owned Mutual Fund Giant, Launches Fund To Close The Racial Wealth Gap (Forbes)

Real Estate / Finance / Development / Housing / Segregation

  • CUs Owe It to Members to Reverse Financial Exclusion Driving the Black-White Homeownership Gap (Credit Union Times)
  • Chase doubles housing grant program as American banks reckon with low minority homeownership (CNBC)
  • The stark racial gap in homeownership (Axios) — The homeownership rate for Black families is nearly 30 percentage points lower than that for white families
  • A historic housing crisis has America in its grip. Can Marcia Fudge save the day? (USA Today)

Cities / Urban Planning / Local Government

  • Before urban renewal, much of Saratoga Springs was a different world (Albany Times Union)
  • Black Women and the Wealth Gap: Best Cities to Flourish Financially (Money Geek)

Taxes / Tax Policy

  • Comment: We need tax fairness and investment, not austerity (HeraldNet) — Racial and economic equality requires lawmakers to fix a regressive tax code and preserve state jobs.
  • Washington still has the nation’s most inequitable state tax code (Washington Budget and Policy Center)

Law / Legal / Non-profits / Philanthropy / Non-Profit

  • BigLaw Puts Brawn Behind Pro Bono Black Business Efforts (Law 360)

Education / Healthcare / Institutions

  • 9 HBCUs On Board In $130M Economic Mobility Plan To Revitalize Southern Communities (University Business)
  • How higher education is failing Black Americans in the Midwest (Crains Business Cleveland)
  • ‘Nation will surely suffer’ without the next generation of Black educators (Yahoo Money)
  • Putting student loan forgiveness in perspective: How costly is it and who benefits? (Brookings)
  • Supporting Black-owned Businesses Through Tech Platforms (National Black Chambers of Commerce) – Harry Alford is president of the NBCC.  Every editorial position is suspect since they took money from gig companies to support prop 22 in California. Now are they taking money from big Tech ?? This is not going to end well.

Farming / Agriculture / Food

Science / Math / Statistics / STEM

  • Black Women Inventors Recall Their Paths to Success (IPWatchDog)

Business Strategy / Governance

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

  • Ariel launches effort to boost minority managers (Pensions & Investments)
  • This ready-to-eat food startup relies on inspiration from traditional recipes (Fortune)
  • A Dozen Cousins Here
  • Startup incubator scheme for black-owned food & drink brands Add Psalt launches (The Grocer) – UK
  • Black women executives making history in the c-suite offer career advice to those following in their footsteps (CNN)

People / Motivation / Leadership / Success Stories / Ideas

  • Black-owned beauty brands and founders breaking billion-dollar barriers (CNBC)
  • Black In Business: Meet The Next CEO of Walgreens, Rosalind Brewer (WBLS)
  • 5 life and career lessons from Black business leaders (NBC News)
  • 8 Black Financial Influencers to Follow in Honor of Black History Month (Yakima Herald)
  • Why I Started a Business During Quarantine (Essence) – How three sisters turned challenging times into golden opportunities.
  • Leonard Miller recalls 72 years of living in Ashtabula, working as first African-American foreman at Raser Tanning Co. (Ashtabula Star Beacon)
  • Cynthia Marshall, of the Dallas Mavericks. Is the first Black Women CEO in the NBA.
  • Legendary Black Entrepreneurs (Investopedia)

All Other

Caribbean / Africa / International

  • A Black woman will be the world’s top trade official for the first time (CNN)

Travel / History

Conservative / Alternative

Opinion

  • I breastfed all 10 of my kids. Black moms need better nursing policies in the workplace (Tallahassee Democrat)
  • I think generational wealth is a key to liberating people of color from systemic oppression, but it’s not all about having a fat bank account (Business Insider)
  • The Way Out of America’s Zero-Sum Thinking on Race and Wealth (NY Times) – Heather McGhee

Other

Stories Feb 8th to 14th 2021

Top Stories

CT-Based Entrepreneur Creates First Black-Owned Cereal During Pandemic (NBC New York). Nic King is the founder of Proud Puffs, a vegan, gluten free, black owned cereal brand.

Facebook Launches New Platform to Highlight the Work of Black Creators, and a New Guide for Businesses (Social Media Today)

This map shows the last time each state raised its minimum wage (Business Insider). 74 states, counties, and cities have raised their minimum wage to $15 or higher.

Dealing Detroiters into legal marijuana industry won’t be easy (Detroit Free Press). The goal is to introduce recreational marijuana businesses in Detroit.

With New Digital Banking Offerings, Greenwood Aims To Close Racial Wealth Gap (Forbes)

Three ways the Biden administration can promote economic security for Black Americans (Brookings Institute)

Atlanta Beltline

The Atlanta Beltline shows just how difficult it is to make big improvements for a large number of people when a small, vocal group of citizens opposes the change. The value created is immense and the losers are small.  But getting even the small number of losers to give something up is almost impossible, especially land or money (taxes).

Beltline moves to fulfill promise of job creation with loop’s completion in southwest Atlanta (Atlanta Business Chronicle)

Atlanta BeltLine Seeks Funding to Complete Trails Before 2030 (Beltline) – PR release.

New Avenues of Funding to Finish the Project (Beltline)

Stories

Jobs / Workers / Unemployment / Gig

The Congressional Budget Office says raising the minimum wage to $15 will kill jobs. That’s not the whole truth — here’s why. (Business Insider)

Latina and Black women lost jobs in record numbers. Policies designed for all women don’t necessarily help. (Washington Post)

US jobless claims fall slightly to 793,000 with layoffs high (Associated Press)

U.S. State Jobless Claims Ease While Federal Programs Swell (Bloomberg)

This map shows the last time each state raised its minimum wage (Business Insider). 74 states, counties, and cities have raised their minimum wage to $15 or higher.

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

Some Black-Owned Businesses Are Turning To New Banks For Paycheck Protection Loans (NPR)

Second round of PPP promises to prioritize underserved businesses. Is it working? (News & Observer) — The U.S. Small Business Administration (SBA) recognizes Black entrepreneurs face socioeconomic and capital funding obstacles when starting and expanding a business

Jobs / Workers / Unemployment / Gig Economy

Inequality / Systemic Racism / Economic Justice

How Can You Truly Make a Difference for Black History Month? (Entrepreneur) –

CEO of Kanarys wants to see more organizational change during Black History Month

Inequality, discrimination part of Black History (Boston Herald)

Race & Equity: Why tackling inequality is everybody’s problem (San Francisco Business Times) – A universal case to close the racial wealth gap.

Black and Latino-owned businesses facing economic peril get $1.1M in relief from Nonprofit (AMNY)

Black Business

Black Business General / Interesting Businesses Stories

Kamala Harris and Black business leaders collaborate on economic plan (The Grio)

Black-owned businesses, New Era Las Vegas create ‘safe zones’ for those in danger (News 3) — A local community activist is teaming up with Black-owned businesses across the valley to create safe zones for people who find themselves in dangerous situations.

Black businesses are still struggling. This Black S.F. leader says it’s time to change the narrative. (San Francisco Business Times)

Britain’s Minority Businesses Punch Above Their Weight But They Need Help (Forbes)

The Fall And Rise Of Black Businesses In 2020 (Forbes) — Access to capital became a roadblock for the survival of black owned businesses.

Black History Is Our History: Black Business Owners Hope Their Example Inspires Other African Americans To Become Entrepreneurs (CBS New York)

Richland woman creates a new program to help minority-owned businesses (NBC Right Now)

Black Business Specific

CT-Based Entrepreneur Creates First Black-Owned Cereal During Pandemic (NBC New York). Nic King is the founder of Proud Puffs, a vegan, gluten free, black owned cereal brand.

Collier Brothers Auto Body, among the oldest Black-owned businesses in St. Louis, to mark 75 years (STL Today)

Big Business / Corporate America

PepsiCo rebrands Aunt Jemima as Pearl Milling Company, coming June 2021 (Fox Business)

Facebook Launches New Platform to Highlight the Work of Black Creators, and a New Guide for Businesses (Social Media Today)

BET And Facebook Elevate Partner For Fireside Chat Series On Black Entrepreneurship (BET)

During Black History Month, T-Mobile Launches Programs Focused On Driving Opportunity For Students, Tech Workers And Business Owners (KXRO)

Pascale Sykes Foundation commits $1M to help expand opportunities for Black business enterprises (roi-nj.com)

Update on McDonalds: Lawsuits and changes at the company (Business Insider)

Reparations / Affirmative Action / Diversity / Inclusion

Filling The Industry Gap (Orlando Business Journal) — Three local Black executives in tourism, sports and related services share their insight on how to welcome more diversity in the workplace.

SmartSteps microlending program helps minority, women-owned businesses (WTXL)

Black-owned e-tailers are creating a ‘one-stop shop’ for BIPOC-founded beauty (Glossy)

For Black Women Entrepreneurs, Access to Resources is as Crucial as Cash (Triple Pundit) — Companies led by women of color CEOs score far less than 1 percent of all venture capital funding.

Economics

Black Economics

Four ways to help close the racial wealth gap in the U.S. (Axios). JP Morgan Chase is helping to close the racial gap by increasing the Black homeowner rate, Black businesses, and helping with financial goals.

Chandler, Mesa among cities where Black Americans fare best economically (AZ Big Media)

Black-owned metro bank helps communities of color develop financial clout, build Wealth (Fox 4)

Research shows minority businesses have lower loan approval rates compared to their white counterparts (KXXV)

Access to credit for Black and African American small businesses (Chamber

Business News) — More than one third or 35% of Black and African American business owners said they had some level of difficulty accessing credit.

Citi’s $2.5 Billion Bond Issuance Levels Up With Black-Owned Firms (Forbes)

South Africa’s black business lobby hails Tourism Equity Fund as a ‘good start’  (Africa Report) — South Africa’s Tourism Equity Fund (TEF) is a good start to advance black economic empowerment in the sector.

Illinois Black Chamber of Commerce leader Larry Ivory: ‘We have a serious

problem’ (Journal Star) — Ivory estimated less than 1% of the businesses in Peoria are owned and operated by African Americans.

Straight up Econ / The Economy

This map shows the last time each state raised its minimum wage (Business Insider). 74 states, counties, and cities have raised their minimum wage to $15 or higher.

Putting student loan forgiveness in perspective: How costly is it and who benefits? (Brookings Institute)

Industry Stories

Sports / Media / Entertainment

How Black Communities Shaped The Internet (The Verge)

Alta Adams Restaurant Kicks Off LA Clippers’ Promotion Of Local Black-Owned Businesses (Forbes)

Alcohol / Marijuana / CBD / Gambling

Dealing Detroiters into legal marijuana industry won’t be easy | Opinion (Detroit Free Press). The goal is to introduce recreational marijuana businesses in Detroit.

First local Black-owned brewery owner: ‘Set out to make really good beer’ (Dayton)

The Drink Black Movement Must Tap the Source (WineMag) — In the wine and spirits industry, Buy Black soon turned into Drink Black.

Beauty / Fashion / Retail

Sharon Chuter’s “Make It Black”: Here’s All You Need to Know (Teen Vogue) — Brands have repackaged some of their cult products in all-black.

Retailers Pledged Action on Diversity. Delivery Is Proving More Elusive (Business of Fashion)

Technology / Apps / Innovation

The Making Of The First Black-Owned Computer Brand (Forbes)

How Kerin John’s online platform is making it easier to find Black-owned businesses in Toronto (Face2Face Africa) — A Canadian entrepreneur has launched an online store and database to help people easily find Black-owned businesses in the city of Toronto.

African Americans Can Now Find Black-Owned Businesses & Events Nationwide With a Click of a Button (Cision) – Press Release

Finance / Investing / Venture Capital

  • Phyllis Newhouse, founder and CEO of Xtreme Solutions in Atlanta, will lead a $250 Million dollar SPAC, Athena Technology Acquisition Corp., making her one of the few women who serve as SPAC CEOs. (Atlanta Business Chronicle) – Special Purpose Acquisition Corporation is a fund raising tool, like an IPO, without the underlying company.  It is a bet on the owner to buy a company to run.
  • Robert F. Smith, Vista Equity Partners: How some bets on Minnesota companies paid off for investor (Minneapolis Star-Tribune)
  • With New Digital Banking Offerings, Greenwood Aims To Close Racial Wealth Gap (Forbes)

Cities / Urban Planning / Local Government

The Atlanta Beltline shows just how difficult it is to make big improvements for a large number of people when a small, vocal group of citizens opposes the change. The value created is immense and the losers are small.  But getting even the small number of losers to give something up is almost impossible, especially land or money (taxes).

  • Beltline moves to fulfill promise of job creation with loop’s completion in southwest Atlanta (Atlanta Business Chronicle)
  • Atlanta BeltLine Seeks Funding to Complete Trails Before 2030 (Beltline) – PR release.
  • New Avenues of Funding to Finish the Project (Beltline)
  • How city planning broke up a Black business district (News Observer) — The effort to redevelop Rauhut Street was among countless examples of government-sanctioned efforts to relocate Black-owned businesses.

Politics / Government / State and Local

  • Three ways the Biden administration can promote economic security for Black Americans (Brookings Institute)

HR / Personnel / Human Capital

It’s not a Black woman’s job to be less threatening in the workplace. (Business Insider)

Education / Healthcare

9 HBCUs join $130M economic mobility plan to boost South (University Business). IU Kelley School of Business receives $1M donation to support minority recruitment program (Indy Star)

coalition will spread to seven cities and will help Black businesses who are struggling the most during the pandemic.

Farming / Agriculture / Food

  • Black Restaurant Challenge: How MIDA Is Giving Back To The Community (GBH) – Challenges seeks to help Black restaurants gain exposure
  • ‘One of the Best Years of My Life’: New Gainesville Black-Owned Food Businesses Flourishing (WUFT)
  • Chicago Black Restaurant Week Partners With Uber Eats (Chicago Eater)
  • Chicago Black Restaurant Week Starts Sunday (NBC Chicago)

Science / Math / Statistics / STEM

NASA hosts panel celebrating Black leaders at NASA (Click Orlando)

People, Careers and All Other

Career / Professions / Entrepreneurship / Businesses You Can Start

Celebrating Black History: Highlighting Black entrepreneurship in Mississippi (WLBT)

People / Motivation / Leadership / Success Stories / Ideas

CT-Based Entrepreneur Creates First Black-Owned Cereal During Pandemic (NBC New York)

Successful Black women in Jersey City (The Hoboken Girl) – Plus their favorite, local Black business

QueenCare To Open New Location, Seeks To Help Inspire Resurgence In Black Business Development (Seattle Medium)

Black-owned businesses: Stow engineer turns car detailing passion into secondary Income (Akron Beacon Journal) — Mobile Foamzone & Detailing is a mobile interior and exterior vehicle cleaning service that will travel to Akron and surrounding communities.

Caribbean / Africa / International

Businesses led by ethnic minorities contribute £74bn annually to UK economy (Yahoo Finance)

Ethnic minority firms excel ‘against the odds’ in the UK (Reuters) – Ethnic minority entrepreneurs perform strongly in tech, innovation and efforts to combat the coronavirus.

COCA-COLA SA TO TRANSFER AN ADDITIONAL 10% OF SHARES TO EMPLOYEES (Eyewitness News) – South Africa.  Coca-cola transfers share to meet Black ownership goals.

Workers to own 20% of Coca-Cola as part of BEE deal (MoneyWeb) – South Africa. A great model for the United States.

Travel / History

Asheville Black Wall Street: Reflecting on 100 years since the Tulsa Race Massacre (Citizen Times)

Opinion

Opinion: Removing the barriers to local Black economic development (Boston Business Journal)

Black Business Stories for Feb 1st to 7th 2021

Top Stories

  • Why Are There So Few Black Economists at the Fed? (New York Times)
  • ‘Better Business Bureau meets Consumer Reports’: Black Dollar Index ranks companies by support of Black America (USA Today).
  • Two Biden Priorities, Climate and Inequality, Meet on Black-Owned Farms (New York Times). Black run farms account for 2% of the nation’s farms, down 12% from 1920. 
  • Columbus moving company, America’s oldest running Black-owned business, celebrates 140 years (10 TV)
  • ‘Better Business Bureau meets Consumer Reports’: Black Dollar Index ranks companies by support of Black America (USA Today).
  • Black Philadelphia renters face eviction at more than twice the rate of white renters (The Philadelphia Inquirer)
  • Two Biden Priorities, Climate and Inequality, Meet on Black-Owned Farms (New York Times). Black run farms account for 2% of the nation’s farms, down 12% from 1920. 

Stories

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • What it means to return to a “pre-pandemic” economy (Marketplace)
  • Minority-owned small businesses hit harder during pandemic (KSHB-TV)

Jobs / Workers / Unemployment / Gig Economy

  • New Department of Labor statistics show racial disparities within unemployment and job loss (WWLP)
  • About 275,000 women left workforce in January in ‘critical’ pandemic trend, experts say (NBC News). The unemployment rate for Black women in January was 8.5%.
  • Raise the minimum wage—and stop subsidizing corporations that underpay their workers (Fortune)
  • Google CEO and HBCU leaders discuss talent pipeline for Black tech workers (News Channel)

Inequality / Systemic Racism / Economic Justice

  • Zuckerberg Part of $100M ‘California Black Freedom Fund’ (US News) — Five-year initiative will provide resources to Black-led organizations in the state that are seeking to eradicate systemic racism.
  • How urban revitalization was used to break up a Black business district in North Carolina (Times News)
  • Why the Richmond Fed has zero Black Ph.D. economists (Virginia Business) — Bank working to improve talent pipeline, mentorship opportunities

Black Business

Black Business General / Interesting Businesses Stories

  • Tale of survival: Documentary tells story of extraordinary Black community in Tulsa (Albuquerque Journal)
  • ‘Better Business Bureau meets Consumer Reports’: Black Dollar Index ranks companies by support of Black America (USA Today).
  • Why Minority-Owned Businesses Struggle to Survive Amid Pandemic (Investopedia)
  • 6 Effective Ways To Team Up With Local Businesses (Forbes)
  • The cities with the most minority-owned startups (SCNOW)
  • St. Louis program seeks Black and Latinx entrepreneurs to invest in and elevate their business (KSDK)
  • ‘It’s not just a fad’: Black-owned businesses lack support months after George Floyd movement (Global News)
  • Orlando attraction features ‘bright futures’ for Black History Month (Click Orlando) — Wall Crawl hopes to highlight amazing women who are struggling to stay afloat
  • Why Black-owned businesses are struggling to stay afloat (CNBC)
  • Will Support for Black-Owned Businesses Continue in 2021? (5280)

Black Business Specific

  • Columbus moving company, America’s oldest running Black-owned business, celebrates 140 years (10 TV)
  • Local historian relaunches Detroit tour company after battling COVID-19, losing mom in 2020 (WXYZ)
  • Ellicott City woman provides local, global jobs while creating beauty products for Black women (Capital Gazette)

Big Business / Corporate

  • Honoring the legacy of Black-owned businesses in the U.S. (Google). Google announces a new shopping feature that will make it easier to find Black owned businesses. 
  • Black CEO Ranks Dwindle With Ken Frasier’s Exit (Bloomberg)
  • Gap Join 15% pledge (Bloomberg)
  • Google adds Black-owned business label to product results (Search Engine Land)
  • Honoring the legacy of Black-owned businesses in the U.S. (Google Blog)
  • Target expands Black History Month collection (Star Tribune)

Discrimination

  • Boston spent $2 billion dollars over 5 year but only 1.2% went to Black and Latino businesses (Boston Globe)
  • Racism in real estate? Major Realtors’ association confronts the issue (Miami Herald)
  • Black restaurant servers were tipped less than others in retaliation for enforcing social distancing, report says (Washington Post)
  • The Navy’s Racial Bias Report (KPBS)
  • Crain’s survey of businesses in northeast Ohio: Black-owned businesses say they’re at a disadvantage (Crain’s Cleveland business)

Reparations / Affirmative Action / Diversity / Inclusion

  • Reparations, Six Months Later: So Far, Empty Promises (Blue Ridge Public Radio)
  • There are no Black execs at the top of Britain’s biggest companies (Philadelphia Tribune)
  • ‘We need to see ourselves’: Md. woman uses business to uplift Black women entrepreneurs (WJLA)

Economics

Black Economics

  • Why Are There So Few Black Economists at the Fed? (New York Times)
  • Why the Richmond Fed has zero Black Ph.D. economists (Virginia Business) — Bank working to improve talent pipeline, mentorship opportunities
  • There’s a ‘credit gap’ between Black and white Americans, and it’s holding Black Americans back from building wealth (Business Insider)
  • Black households were concentrated in distressed areas of Northern cities years before the federal government created color-coded maps to indicate investment risk. (NBER)
  • The Economist Placing Value on Black Women’s Overlooked Work (NY Times) — Community activism by Black and other marginalized women goes under looked.
  • MLK Lecture connects King’s legacy with economic responsibilities today (Emory)
  • ‘The second way’ to close the wealth gap (American Banker) — Here’s what banks and government can do to stimulate small-business growth.
  • The Importance Of Social Capital, According To One Black Female Founder (Forbes)

Industry Stories

Sports / Media / Entertainment

  • A 50th anniversary conversation with Earl “Butch” Graves Jr. of Black Enterprise (The Business Journals) – Sponsored conversation by JPMorgan Chase
  • Orlando Magic’s Esu Ma’at shares how NBA team recruits Black executives (Orlando Business Journal)
  • From James Brown to Joe Armstrong, Black-owned WJBE promotes the ‘unity’ in community (Knoxville News)

Alcohol / Marijuana / CBD / Gambling

  • Portland distillery gets a boost from Beyoncé (KGW)
  • Get to know Nayana Ferguson, the first Black woman to operate a tequila brand (Face 2 Face Africa)
  • Pot Push to Put Social Justice in the Spotlight: Cannabis Weekly (Bloomberg)

Beauty / Fashion / Retail

  • How Black-owned haircare brands scale up (Vogue)

Technology / Apps / Innovation

  • Chicago Tech Incubator called “1871” help black Entrepreneurs deliver on ideas (Chicago Sun Time)
  • Google Highlights Black-Owned Businesses On Shopping Tab (PYMNTS)

Finance / Investing / Venture Capital

  • Black-Owned Banks and the Communities They Serve (Federal Reserve Bank of St. Louis)
  • Largest Black Owned Bank Focuses on Closing the Racial Wealth Gap (Chicago Defender)
  • Top-Ranked Minority-Owned Finance Firm Invests in Future of Historically Black Colleges and Universities (Intrado Global News Wire)
  • What Biden needs to get right about closing the venture capital racial gap (Quartz)
  • Female-Founded Fintech Makes It Easy To Invest In Minority And Women Entrepreneurs (Forbes)
  • Bitcoin And Black America With Isaiah Jackson (Bitcoin Magazine). Link to a podcast episode.
  • 19 Black owned banks and how to support them (Black Star News)

Real Estate / Finance / Development / Housing / Segregation

  • Black Philadelphia renters face eviction at more than twice the rate of white renters (The Philadelphia Inquirer)
  • Racism in real estate? Major Realtors’ association confronts the issue (Miami Herald)

Politics / Government / State and Local

HR / Personnel / Human Capital

  • Google CEO and HBCU leaders discuss talent pipeline for Black tech workers(CNN) – Not as easy as everyone thinks. If only people would do just like I did, they would be successful.

Farming / Agriculture / Food / Restaurants

  • Two Biden Priorities, Climate and Inequality, Meet on Black-Owned Farms (New York Times). Black run farms account for 2% of the nation’s farms, down 12% from 1920. 
  • What is the future of Boston’s Black-owned restaurants? (Boston Globe) –
  • Restaurants are a major sector of Black-owned businesses lost to the pandemic.
  • This TikToker is on a mission to make Black food history more accessible (Today)

Transportation / Logistics / Trade

  • A Black woman will be the world’s top trade official for the first time (CNN)

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

  • Black-Owned Plant Shop Sees Business Bloom During Pandemic (WTTW) – Chicago
  • Black Women Entrepreneurs, Not Banks, Helped Me Keep My Company Going During the Pandemic (Entrepreneur)
  • Marcus Samuelsson Speaks out on Being a Black Cook in America (5280)
  • Black Entrepreneurship: The Opportunity Gap Explained (Forbes)

People / Motivation / Leadership / Success Stories / Ideas

  • Black leaders offer several key steps to help close the racial wealth gap (CNBC)
  • Good Morning America asked influential Black Americans to nominate Black people making history in 2021. (ABC News)
  • Meet Marques Brownlee – YouTuber & Tech Geek. (BlackEconomics.co.uk) – Another profile of Brownlee.  You have to watch him in action on You Tube.
  • Black Celebrities Who Uplift Communities and Give Back in a Big Way (People)
  • Calendar Honors Black Leaders (Greenville)
  • Black History Month: African Heritage Entrepreneurs in Gilded Age Newport – Andrew J. Tabb (WUN) — Tabb’s accomplishments represent the essence of African heritage “Creative Survival” during a time of enslavement
  • Legendary hotel magnate Herman Roberts provided first class entertainment, housing (Chicago Crusader)

Good News

All Other

Caribbean / Africa / International

  • There are no Black execs at the top of Britain’s biggest companies (CNN)
  • The Unfortunate Truths Of Fundraising While Black in Britain (Forbes)
  • Coca-Cola’s South African bottler to increase black ownership stake to 20% (Reuters) – Employees will increase ownership under Black Empowerment scheme to reverse decades of exclusion under apartheid.

Travel / History

  • Black Women Who Have Run for President (History). Eleven Black women have run for president since 1968.
  • 100 years after the Tulsa Massacre, entrepreneurs revive spirit of ‘Black Wall Street’ (USA Today)
  • The Plan to Build a Capital for Black Capitalism (New Yorker)
  • The National Guardian Life Insurance Company Black History Project, Part 1: The Founders (Madison365) – Madison, Wisconsin
  • William Grose, pioneer, worked the Underground Railroad and founded Seattle’s Black Central District (KUOW)
  • Black-owned businesses boosted by tourism authority (Royal Gazette)
  • Lawmakers hear plan to reconnect historic Black neighborhood (AP News)
  • Great Migration transformed Toledo as blacks from South sought better life (Toledo Blade)

Classic / Old stories but good stories

  • Who’s Donald Sterling? (Vox) — Or how to get rich by descriminating in Real Estate

Conservative / Alternative

Opinion

  • The Country Needs To Do Much More About Unemployment (Forbes)
  • As a Black woman, Tubman on the $20 does nothing for me (Milford Daily News)
  • My history is Black history (Allied News) — too often is the poverty that has plagued Black people for centuries in America and Africa depicted, says Carolina.

Other / Interesting

Stories For Jan. 25th to 31st 2021

Stories Jan 25th to 31st 2021

Top Stories

  • The mirage of the Black middle class (Vox)
  • Inside the Marijuana Growing Facility of a Historically Black University (WGNO). Southern University is the first HBCU to launch a line of THC products as part of its agriculture program.
  • Did Clubhouse achieve their $1BN valuation by exploiting or empowering Black people? (Irish Tech News)
  • Raising minimum wage may prevent infant deaths — and every dollar counts, study finds (News Observer). Each additional dollar of the minimum wage reduces infant deaths by up to 1.8% each year in major urban U.S. cities.
  • Medical school applications surge as COVID-19 inspires Black and Latino students to become doctors (USA Today)

Stories

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • BADG’s Obsidian is a futuristic concept house powered by Black creativity (Business of Home) – Obsidian showcase ranges from interior designers to architects to artists
  • U-M Study Reveals Lack Of Coronavirus Aid For Black-Owned Businesses (Patch) –
  • Black business owners are about 30 times less likely to receive government assistance than white business owners
  • Black-owned businesses hope this round of PPP won’t fail them (CNBC)

Jobs / Workers / Unemployment / Gig Economy / Minimum Wage

  • Biden’s plan for a $15 minimum wage could mean one in 5 Americans earns more. Nearly a third of Black workers would get a raise, research suggests. (Business Insider)
  • Former Obama Official Tapped to Lead OneTen Black Jobs Coalition (Bloomberg)
  • GOP Sen. Rand Paul says that Biden’s push for a $15 minimum wage reflects a ‘hate’ for Black teenagers (Business Insider) – The libertarian belief in “free” markets is pretty fanatical and can cloud your judgement.
  • Amazon Union Drive Takes Hold in Bessemer Alabama (NY Times)

Inequality / Systemic Racism / Economic Justice

  • Preservation can promote equity for Black communities, report says (Philadelphia Inquirer) — Preservation can be a tool to stabilize neighborhoods and to foster equitable growth in Black communities.
  • Black business owners are facing ruin. They need help now (CNN) — Economy stands to gain $8 trillion by 2050 by eliminating racial inequalities
  • How can businesses eliminate workplace ethnicity inequity in 2021? (HR Director) — Targeted action to address mid-level BAME advancement can release a significant burst of talent and energy.
  • New York City expands street vendor program. (NY Times)

Black Business

Black Business General / Interesting Businesses Stories

  • Richard Patterson former Tesla designer of the Model S makes history as the first black manufacturer and designer of a Supercar (Cision/PRWeb)
  • Master P teaming with ex-Tesla engineer to develop first Black-owned supercar (The Grio)
  • Black Owned Cosmetic Company talks about skin color and More. (WAOK)
  • Black Girl Ventures to host inaugural Birmingham pitch competition (Birmingham Business Journal)
  • Black Americans helped make barbecue a cultural phenomenon. Charcoal company Kingsford is helping to preserve that legacy (CNN) –New fellowship program to honor the contributions Black Americans have made to the legacy of American barbecue
  • Sephora’s Planning To Promote Black Owned Brands (Forbes) — Black people are known to contribute revenue at a rate greater than their proportion to their population in the beauty industry
  • Houston’s first Black-owned coffee shop downtown just opened (Chron)
  • Houston leads the way as a top metro for minority-owned startups (ABC News 13)
  • The 2021 Black Lens Symposium (Online) (Indy) —
  • Conversations around black duality, black centricity, black history, black business, black reciprocity, and the future of being black in America.
  • Photos: Black Business Expo celebrates local black entrepreneurs and businesses (York Daily Record) – Pennsylvania. Cute.

Big Business / Corporate

  • Apple introduced a limited-edition Black Unity Apple Watch collection for Black History Month (Business Insider)
  • Why Did Companies Take So Long to Divest from White Supremacy? (Harvard Business Review) – American corporations responded to protests with statements and commitments to reduce racial inequality.
  • AT&T : Exceeds $3 Billion Spending for Black-Owned Businesses (Market Screener)
  • Amazon Seeks to Block Resolution Calling for Racial Audit (Bloomberg) – Amazon is asking U.S. regulators to block a shareholder that asked the company to conduct an audit on racism and diversity.
  • Target apologizes after 3 Black teenagers were wrongfully detained at a California Store (Business Insider)
  • California Capitol Watch: New Law Requires Corporate Board Diversity (Davis Vanguard) – All corporate boards must have a member of an under-represented group by the end 2021.

Discrimination

  • Black Comedy Central employees felt tokenized and used as a ‘taste tester for racism’ by the network, while it showcased diversity on TV (Business Insider)

Reparations / Affirmative Action / Diversity / Inclusion

  • Exploring reparations for Black Americans is ‘necessary,’ says NAACP president (CNBC)
  • Diverse talent leaving accounting jobs due to ‘lack of inclusion’ (Accounting Today)
  • WRIGHT: Diversity statements need to be tossed away (Daily Targum) — Blanket statements that personal relations teams create seem to be an attempt to appease.
  • Bill would allocate 23% of state contracts to woman- and minority-owned businesses (Virginia Business) — Only 13% of Va. contracts went to certified minority- and woman-owned firms, study says
  • Diversity and Inclusion in Supply Chain: How to do More Than Lip Service [Infographic] (GritDaily)
  • W. Arthur Lewis: Intellectual author of CARICOM’s blueprint for reparatory justice (Gleaner)

Economics

Black Economics

Straight up Econ / The Economy

Industry Stories

Alcohol / Marijuana / CBD / Gambling

  • Inside the Marijuana Growing Facility of a Historically Black University (WGNO). Southern University is the first HBCU to launch a line of THC products as part of its agriculture program.
  • As Sports Gambling Debate Ramps Up, Casino Commits to Minority Business Partner (Maryland Matters).
  • Can the cannabis industry be an agent of social justice? Or is it just another big
  • business? (Washington Post)
  • Kalamazoo’s new cannabis cultivation site growing local economy, diversity and sustainability (MLive.Com)
  • Detroit residents hope pot business opportunities don’t elude them (Michigan Advance)
  • This is Michigan’s first Black-owned brewery (Midland Daily News)

Beauty / Fashion / Retail / Amazon

  • Can Made in Africa transform the continent’s leather industry? (Vogue) — To grow
  • Africa’s leather industry, tanners and manufacturers cannot focus solely on getting Western designers and luxury houses to use their leather
  • Activists Pushed Retailers to Back Black-Owned Brands. Here’s How Nordstrom Responded. (Business of Fashion)
  • Six months ago, BIPOC jewelry professionals put out a call for greater equality and diversity in the trade. How much has changed since then? (Diamonds.Net) – Lots of information about the Jewelry Industry.
  • ‘A new wave’: Kamala Harris elevates black designers on world stage (Guardian)

Technology / Apps / Innovation

  • Did Clubhouse achieve their $1BN valuation by exploiting or empowering Black people? (Irish Tech News)
  • Interview: Facebook group lends a helping hand to struggling Black-owned businesses during pandemic (Fox 40)
  • These Food Delivery Apps Are Built for the Community by the Community (Bon Appetit)
  • Apple Celebrates Black History Month With Maps + More (Cool Hunuting)

Finance / Investing / Venture Capital

  • Black and Hispanic Americans on the U.S. financial system: “The odds were always against me,” new Credit Sesame survey finds (PR Newswire)
  • How one mother is building generational wealth for her young son (NBC News)

Real Estate / Finance / Development / Housing / Segregation

  • This time, let’s actually fix the affordable housing market (NY Daily News)
  • HUD nominee Marcia Fudge to push for rental assistance, affordable housing amid coronavirus crisis (Washington Post)

Politics / Government / State and Local

  • Biden administration revives effort to put Harriet Tubman on $20 bill (Washington Post)
  • Pittsburgh leaders encouraged by Biden memo to correct Black housing inequities (Trib Live)
  • “A Step Forward”: Black Lives Matter Protests Forced Biden to Push Racial Equity, But More Is Needed (Democracy Now)
  • Biden signs executive orders on stimulus checks, food stamps and minimum wage(CBS News)

Education / Healthcare

  • Porsche launches new scholarship and guest lecture series at Morehouse College (PR Newswire). This scholarship will expose HBCU students to the auto industry.
  • Raising minimum wage may prevent infant deaths, study finds (News Observer). Each additional dollar of the minimum wage reduces infant deaths by up to 1.8% each year in major urban U.S. cities.
  • Medical school applications surge as COVID-19 inspires Black and Latino students to become doctors (USA Today)
  • Walgreens’ vaccine rollout will be led by the only Black woman to run a Fortune 500 company (Washington Post)

Restaurants / Food / Food Production / Farming / Agriculture

  • Biden’s Agriculture deputy choice, Jewel H. Bronaugh, may reflect minority critics (The Daily News Online) – In spite of opinionated headline, a good discussion of Ms. Bronaugh’s background and Tom Vilsack, head of the department of agriculture. Vilscak, also worked under Obama, and fired Shirley Sherod based on an edited speech she made.
  • Mashama Bailey, Chef at Grey in Savannah has a cook book (LA Times)

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

  • Celebrating black entrepreneurs: James Smith and J&E Grocery, 1964-2001 (Rochester First)
  • Forbes: For The Culture To Explore State Of Black Entrepreneurship In Year-Long Interactive Project (Forbes)
  • This Year Has Been Devastating For Mental Health Professionals — Especially If They’re Black (Refinery29)
  • Walgreens’ new CEO Roz Brewer on bias in the C-suite: ‘When you’re a Black woman, you get mistaken a lot’ (CNBC)

People / Motivation / Leadership / Success Stories / Ideas

  • ‘Black Women Built My Business’: Pantora Bridal Designer Andrea Pitter Brings Her Brand of Black Love to The Knot’s Spring Cover (The Root) – Famed retailer to carry Pitter’s designs
  • Detroit Is THIS Podcast: Roslyn Karamoko CEO of Détroit Is The New Black on Building and Growing a Retail Business in Detroit (Detroit is It)
  • Black Sands Entertainment’s Manuel Godoy Reflects on Running a Black-Owned Comic Publisher (CBR)
  • Meet The Black Female Founder Making Superfood Wellness Affordable (Forbes)
  • Doctors, Patients Reflect On Dr. Justina Ford Day, Honoring Denver’s First Licensed Black Female Doctor (CBS Denver)

In Passing

  • Bettyjean C. Murphy, City’s first woman, African-American developer, ‘never backed down, never gave up’ (Baltimore Afro-American)

All Other

Travel / History

  • Emmett Till’s brutal murder changed America. Now his home is a historic landmark. (Washington Post)
  • 7 destinations to visit in the US to learn about Black history (Business Insider)
  • How the Tulsa Race Massacre Was Covered Up (History)

Conservative / Alternative

  • A $15 Federal Minimum Wage: An Anchor on Struggling Businesses (Heritage.Org)
  • Is ‘Stakeholder Capitalism’ Newspeak for Economic Fascism? (FEE.Org) – Same stuff: Individuals collectively act in societies best interest and markets are the best way to transmit information for decision making in society.
  • Government’s ‘help’ is not great for minorities (Pittsburgh Tribune)

Opinion

  • How Biden Can include social science research in Executive branch policy making (Washington Monthly) – Features Dr. Alondra Nelson.  The case for a presidential social science council.
  • The facts might lead to uncomfortable conclusions about race in the United States.

Stories Jan 18th to 24th 2021

Top Stories

  • Biden claims his $1.9 trillion Covid relief plan will cut child poverty in half — here’s how (CNBC). This plan is expected to have the greatest impact on Black and Hispanic families.
  • Jay-Z raises $10 million for a fund designed to invest in minority-owned cannabis businesses following the industry’s largest-ever SPAC (Business Insider)
  • The case for buying climate tech from BIPOC and women-owned suppliers (Green Biz). Being committed to climate justice includes buying from Black and women-owned suppliers.
  • How one mother is building generational wealth for her young son (CNBC
  • GOP Sen. Rand Paul says that Biden’s push for a $15 minimum wage reflects a ‘hate’ for Black teenagers (Business Insider)
  • The Trump economy left Black Americans behind. Here’s how they want Biden to narrow the gaps. (Washington Post)

Stories

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • Biden claims his $1.9 trillion Covid relief plan will cut child poverty in half — here’s how (CNBC). This plan is expected to have the greatest impact on Black and Hispanic families.
  • Lawsuit Over Minority-Owned Colorado Business Relief Prompts Expanded COVID Bill (Patch)
  • Q&A: U-M researcher says Black businesses shorted in first PPP loans (Bridge)
  • Raleigh’s new black-owned Black Friday Market thriving downtown despite COVID-19 downturn (CBS17)
  • The inequities of PPP: Megachurches receive money ahead of small businesses (ABC7)

Jobs / Workers / Unemployment / Gig Economy

  • How the American Unemployment System Failed (New York Times)
  • The Future Is Female And So Are The Job Losses: Women Impacted As 900,000 File For Unemployment (Forbes)
  • Black, Asian and minority-ethnic UK workers hit worst by Covid job cuts (Guardian)
  • CEOs are driving an initiative to hire, train 1M Black workers over next 10 years (Fox Business)
  • Joe Biden pledges to address pay, systemic racism: ‘Black and Latino unemployment gap remains too large’ (USA Today)
  • The case for buying climate tech from BIPOC and women-owned suppliers (Green Biz) — The climate-friendly transition could provide an opportunity to create a more just workforce — one that includes more women and underrepresented people of color at all levels of leadership and ownership.
  • Apple commits $100 million to racial equity programs while disclosing its own diversity hiring record (Dallas News)

Inequality / Systemic Racism / Economic Justice

  • The Trump economy left Black Americans behind. Here’s how they want Biden to narrow the gaps. (Washington Post)
  • Maryland’s House speaker crafts ambitious ‘Black Agenda’ to close equity gaps | COMMENTARY (Baltimore Sun) – Black Agenda is racial equity plan aimed at closing the race gap in areas such as homeownership, health and wealth.
  • Women and Minority Founders Still Vastly Underfunded, New Report Finds (Entrepreneur)
  • We are learning more about diversity at tech companies, but it isn’t good news (Market Watch) — Tech companies are struggling to increase percentage of underrepresented races while entangled in high-profile controversies related to how minority employees are treated

Black Business

Black Business General / Interesting Businesses Stories

  • Black entrepreneurs in Tulsa’s Greenwood district feel threatened (Washington Post)
  • More attention placed on minority-owned startups (News-Press Now)
  • In a survey, minority business owners say local chambers ‘too white’ (VT Digger) – State’s chambers of commerce aren’t doing enough to make minority business owners feel welcome.
  • Mentorship program for Black women in business starts during pandemic (CBC)
  • Family owned and operated business in Norfolk working to help increase Black wealth in the community (Wavy)
  • KC’s Black-owned business are much more than restaurants (Kansas City Business Journal)
  • Ryerson Student Creates Black-owned business directory, app to Launch Next Month (Eye Opener)
  • D.C. Black-owned businesses prepare for inauguration week amid threats of violence (The Grio)
  • Funeral homes forced to adapt during COVID-19 pandemic (WCJB)

Black Business Specific

  • How a ‘love affair with Black literature’ kept Lansdale’s Black Reserve Bookstore alive (WHYY)
  • How a Black-owned glassware company found success during the pandemic (CBS News)

Big Business / Corporate

  • Brands Want to Tell Stories of Inclusion. Marketing Leaders Should Listen Instead. (Entrepreneur)
  • Many Brands Stay Committed To Amplifying Black-Owned Businesses (Digital Media Solutions)
  • Google CEO to meet with Black college leaders following racism allegations (Philly Tribune)

Discrimination

  • Experts: Racial Income Gap Still Wide (Memphis Flyer)
  • Race in South Africa: ‘We haven’t learnt we are human beings first’ (BBC News) — Legal discrimination along racial lines in South Africa ended with the demise of apartheid but racial categorisation is still being used by the government for monitoring economic changes
  • In ‘battle for the soul of Salem,’ a Black business owner is targeted (Washington Post)
  • New York’s smallest businesses will no longer be supervised by police (Quartz)

Reparations / Affirmative Action / Diversity / Inclusion

  • CEOs are driving an initiative to hire, train 1M Black workers over next 10 years (Fox Business
  • Black Lives Matter: A call to action for HR (HR Executive) — MBA students at historically Black colleges and universities, want business leaders to hear their vision for an all-inclusive workplace of the future.
  • Will Vice President Kamala Harris change how corporate America sees and treats Black women? (USA Today)
  • 3 women of colour on how to boost diversity from the outside in (World Economic Forum) – Kind of behind the US.

Economics

Black Economics

  • The Federal Reserve starts to consider racial impact of policies (Morning Brew)
  • Biden Day One: Economic Recovery (UDaily) — Biden-Harris administration’s top four priorities: COVID-19, economic recovery, racial equity and climate change.
  • Obtaining grant funding a challenge for many Black-owned businesses (Times Weekly)
  • Black Girl Finance: Raiding her son’s account inspired Selina Flavius to help minorities manage their money (I news)
  • Maryland lawmaker pushes for a state bank to help bridge wealth divide (Baltimore Business Journal)
  • Digital Black-owned bank aims to tackle economic injustice (ABC News)
  • The new plantation: Black people in Asheville’s economy today (Citizen Times) — Out of $118 million in contracts in 2018, only 0.5% went to African Americans.

Industry Stories

Sports / Media / Entertainment

  • Former Oakland A, Dave Stewart, makes $115M bid for Oakland’s Coliseum site share (NBC Sports)
  • Sean “Diddy” Combs Invests In Digital Platform That Celebrates Black-Owned Beauty Brands (newsone)
  • Why so few black skiers and ballet dancers? (AAAS) – New book: The color of culture

Alcohol / Marijuana / CBD / Gambling

  • Jay-Z raises $10 million for a fund designed to invest in minority-owned cannabis businesses following the industry’s largest-ever SPAC (Business Insider)
  • New Michigan marijuana taxes, stock market proposed to boost minority business investment (mLive)
  • Jay-Z starting $10 million fund for minority-owned marijuana businesses (NY Daily News)
  • Pot in Seattle is too white: Social Equity in Cannabis Task Force shaping plan to create new opportunities in state’s retail marijuana industry (Capitol Hill Seattle Blog) – If you want to start a business, Marijuana is it.

Beauty / Fashion / Retail

  • The Creator of Kamala Harris’ Inauguration Night Dress on Supporting Black Designers (Time)

Technology / Apps / Innovation

  • Innovative All-Woman Tech Startup Creating First of Its Kind Interactive Mobile App On Black History (The Register Citizen). This app is designed to shine a light on America’s rich Black history using Augmented Reality.
  • The case for buying climate tech from BIPOC and women-owned suppliers (Green Biz). Being committed to climate justice includes buying from Black and women-owned suppliers.
  • This Nigerian-American Launches “MelaninPeople” A New Social Media App for Black and Brown People of Color Worldwide (EIN)

Finance / Investing / Venture Capital

  • Repairing Blacks’ pathway to wealth (NY Daily News)
  • More than 50 years after the Civil Rights movement, Black Americans still face discrimination in banking. But pro sports teams can help change that. (Business Insider)
  • How one mother is building generational wealth for her young son (CNBC

Real Estate / Finance / Development / Housing / Segregation

  • For Black homeowners, a common conundrum with appraisals (Washington Post)
  • Survey shows rent debt to be disproportionately distributed among minorities (Kirkland Reporter)
  • A D.C. developer received a presidential pardon. Now, a neglected neighborhood hopes he will show mercy to a cherished community hub. (Washington Post)
  • ‘Controlled Destruction’: How Urban Renewal Changed Nyack Permanently (Nyack News & Views) – Shaped by a hidden legacy of racism.

Cities / Urban Planning / Local Government

  • Cantrell promises better minority contracting in ‘most Afrocentric city in US’. (4WWL). New Orleans Mayor is revamping the Office of Supplier Diversity, making sure diverse businesses receive at least 35 percent of city contracts

Politics / Government / State and Local

  • Black-owned businesses to get aid under Biden Administration (Erie News Now)
  • What Minority-Owned Small Businesses Can Expect From A Biden-Harris Administration (Forbes)
  • Some Black activists skeptical about mayor’s racial alliance despite recent directive (Lansing State Journal)
  • Black politicians launch training program called Black Bench, for next generation (Chicago Sun-Times)

Education / Healthcare

  • Study: Life expectancy in African Americans decreased due to pandemic (WSOCTV)
  • How Black barbers have become mental health advocates for African American men (CNN). The Confess Project Barber Coalition is a non-profit that allows Black men to deal with racial issues and become better versions of themselves.
  • How Atlanta’s historically Black colleges and universities landed millions from Apple, Southern Co. (Atlanta Business Chronicle)
  • Understanding the Role of Race in Business (Pittwire) — While business schools traditionally have addressed race in the context of interpersonal relations, Harper’s course takes a much broader perspective
  • Walker’s Legacy, Howard University Launch Scholarship Fund For Women Entrepreneurs (Newsone)

Farming / Agriculture / Food / Restaurants

People and Careers

People / Motivation / Leadership / Success Stories / Ideas

  • Charlene Izere: Empowering the Lives of Black Women in Entrepreneurship and Transforming Their Lives for the Better (London Daily Post) – Charlene Izere owns three successful businesses that help to equip and support black women, all of which have propelled her to the forefront of the entrepreneurial world and the black community.
  • Meet the economist charged with keeping Biden’s promises to women and people of color (Washington Post)
  • Even in retirement, Ron Leeper is focused on making Charlotte better. (QCityMetro)

All Other

Travel / History

  • The Maryland Lynching Memorial Project tackles the past, present (Baltimore Sun)

Conservative / Alternative

  • GOP Sen. Rand Paul says that Biden’s push for a $15 minimum wage reflects a ‘hate’ for Black teenagers (Business Insider)

Opinion

  • Opinion: We can advance real social equality in Washington (Puget Sound Business Journal) — Research from McKinsey & Co. demonstrates that diversity in the workplace creates more resilient and profitable organizations
  • This MLK Day, Congress should remember Dr. King’s economic agenda (Philadelphia Inquirer)