Stories for April 26th to May 9th 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.
  • 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.
  • Most expensive federal ‘stimulus’ program woefully failed minority communities, new analysis shows (Washington Examiner)
  • Robert Johnson, Founder Of BET, proposes $30 Billion Tax Incentive Legislation to Support Black and Minority Owned Businesses (PR Newswire)
  • There Is Growing Segregation In Millennial Wealth (NPR)
  • Why Black Neighborhoods Continue to Struggle (Governing)
  • Why giving felons a second chance is the key to economic prosperity for America (MarketWatch). Underemployment for felons is a huge loss in economic potential.
  • Paulla McCarthy is the First Black Woman CEO to Own a NY Spring Water Bottling Plant (Ebony)
  • It will take 333 years to erase equity gap for minority-owned businesses at current growth level (PRNewswire). Original report from the Michigan Minority Supplier Development CouncilSupplier.io is here.

    Supplier.io’s software calculates an “inflated” impact score using a “multiplier” that count down stream effects. For example, Black business is assumed to have 50% black employees and spend 25% of their money will other Black business, so the total spend 100% of the first Black business, 50% of wage and 25% of second Black business. Pretty creative.

    Supplier.io, a leading vendor of supplier diversity software, has few minority employees, none in leadership and outsources most of it’s work to India.

    Everyone’s making money off Black people except Black people. Some of these supplier diversity programs may be PR focused.

Stories

Protest / Social Justice

  • What local leaders have done a year after racial dialogue promises (Reporter Newspapers)
  • Black activists march on CHA headquarters (Chicago Sun-Times) — Several Black-led community activism organizations gathered outside of the Chicago Housing Authority to demand local, state and federal government support in Chicago’s Black neighborhoods. Including contracting opportunities.

Coronavirus / Covid-19 / Paycheck Protection Program

  • Most expensive federal ‘stimulus’ program woefully failed minority communities, new analysis shows (Washington Examiner)

Jobs / Workers / Unemployment / Gig Economy

  • Almost 2 million Americans will lose supplemental unemployment benefits in 16 states (CNBC). Workers will lose a $300 weekly supplement to unemployment benefits.
  • The Amazon union drive showed us the future of US labor (The Guardian)
  • Amazon Calls Black Worker’s Race, Sex Bias Suit Baseless (Law360) – Charlotte Newman worked for Sen. Cory Booker but amazon claims she did not have public policy experience.
  • 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.
  • The Fear Black Employees Carry (Harvard Business Review)
  • Your Next Great Hire Is Graduating From a Community College (Edsurge)
  • OneWest offering free training for Black and minority job seekers in construction, Architecture (WHAS 11)
  • Disappointing April jobs growth keeps unemployment rate above 6% (CBS News)
  • Biden administration reverses Trump-era gig workers rule (Aljazeera) – Labor
  • Biden administration blocks Trump-era rule affecting gig workers(Reuters)
  • Jobs begin to bounce back but not every role will return (Independent.ie)

Inequality / Systemic Racism / Economic Justice / UBI

  • It will take 333 years to erase equity gap for minority-owned businesses at current growth level (PRNewswire). Original report from the Michigan Minority Supplier Development CouncilSupplier.io is here.
  • Supplier.io’s software calculates an “inflated” impact score using a “multiplier” that count down stream effects. For example, Black business is assumed to have 50% black employees and spend 25% of their money will other Black business, so the total spend 100% of the first Black business, 50% of wage and 25% of second Black business. Pretty creative.
  • Supplier.io, a leading vendor of supplier diversity software, has few minority employees, none in leadership and outsources most of it’s work to India.
  • Everyone’s making money off Black people except Black people. Looks like a lot of these programs are PR.
  • A Rude Awakening: A Surface-Level Understanding of the Barriers Black Founders Face (Nasdaq)
  • California lawmakers must commit to small, minority-owned businesses (Cal Matters) – Communities of color borne the largest burdens of California’s latest crises
  • Mothers see signs of economic hope after a year of stress (Detroit Free Press)
  • Black-White wage gap grows to highest level since the pandemic began (NJ Today)
  • $11.5 Million Settlement Reached In Racial Glass Ceiling Case Against Kaiser (Forbes). This article talks about the Kaiser case and the “concrete ceiling” that blocks Black employees into higher level positions.

Black Business

Black Business General / Interesting Businesses 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.
  • Robert Johnson, Founder Of BET, proposes $30 Billion Tax Incentive Legislation to Support Black and Minority Owned Businesses (PR Newswire)
  • How Black-owned businesses can make the most out of the Biden infrastructure Plan (Brookings) – Andre Perry
  • Tampa is a city of opportunity for minority-owned businesses (Tampa Bay Business Journal)
  • After George Floyd, Black-owned bookstores bloomed across America – and now Houston (Houston Chronicle)
  • Meeting The Needs Of Black-Owned Small Businesses In The Digital Economy (Seattle Medium)
  • ‘It works.’ How a little money spurred growth in these small KC Black owned businesses (Kansas City Star)
  • Bold Xchange company created to support Black-owned businesses (ENN) – Elon graduates start an online retail shop promoting Black Businesses
  • Lalese Stamps: ‘People were wanting to support Black-owned businesses’ (Columbus Monthly)
  • Millennial content company gives a boost to Black-led startups (Yahoo News)
  • Why networking is essential to the survival of Black-owned businesses (Triangle Business Journal)
  • How this laundry detergent could help build economy in Rochester’s Black Communities (Democrat & Chronicle)

Black Business Specific

  • Paulla McCarthy is the First Black Woman CEO to Own a NY Spring Water Bottling Plant (Ebony)

Black Economics

Black Economics

  • Fed’s Powell says economic recovery clouded by racial, education gaps (Reuters)
  • How Systemic Racism Continues To Determine Black Health And Wealth In Chicago (NPR). Original article is from the New York Times.
  • Black consumers must demand respect in Philly, across U.S. (Philadelphia Tribune) – Michael Coard
  • There Is Growing Segregation In Millennial Wealth (NPR)
  • Why You Should Consider Moving Your Money to a Minority-Owned Bank (Consumer Reports)
  • Black Banking Executives on How to Sustain Post Floyd Changes (Bloomberg Equality)

Straight up Econ / The economy

  • How three combative, unconventional economists forced the president to abandon his neoliberal ways (The New Republic) — The Progressive Trio Shaping Biden’s Ambitious Economic Policy. Bye, Bye, Larry Summers.
  • Chairman Powell comments on Survey of Household Economics and Decision Making (SHED) report from FED. (Street Insider) – Twenty (20%) of Black prime aged workers(25-54) were laid off. 36% of Black mother were either not working or had to reduce their hours because of childcare issues. 67% of Black business had to reduce operations during covid.

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

General Business

Big Business / Corporate / Business Strategy

  • 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)
  • Black Business Expo keeps dollars in the community, provides networking (News Now)
  • Corporate Spending On Diverse Suppliers Rose An Average Of 54% In Recent Years, According To New Research From Bain & Company And Coupa (Yahoo Finance)
  • A commentary on american corporations and society (Elko Daily)
  • American companies pledged $50 billion to Black communities. Most of it hasn’t Materialized (Fortune)
  • How two Black CEOs got corporate America to pay attention to voting rights (Philadelphia tribune)

Amazon

  • The Amazon union drive showed us the future of US labor (The Guardian)
  • Amazon Calls Black Worker’s Race, Sex Bias Suit Baseless (Law360) – Charlotte Newman worked for Sen. Cory Booker but amazon claims she did not have the required public policy experience.

Discrimination

  • Black customer recounts ‘degrading’ treatment at Ottawa bank branch (CBC)
  • SA mining company accused of crushing black-owned firms with anti-competition Behavior (IOL)

Real Estate / Housing / Segregation

  • Black Americans And The Racist Architecture Of Homeownership (WAMU)
  • Alabama School Segregation Increases Due To Economic, Historical Trends, Study Finds (Today KU)
  • Property tax sales rock Black neighborhoods (Valley Press)
  • Indianapolis homeowner files discrimination complaint after removal of Black identifiers leads to $100,000 appraisal increase (Fox 59) — Looks like something that we should be testing for.

Reparations / Affirmative Action / Diversity / Inclusion

  • San Francisco OKs task force to study Black reparations (AP)
  • The Fortune 500 now has two Black women CEOs. That’s actually an improvement (WRAL)
  • Walmart Boosts Black Corporate Officers Back Near 2015 Level (Bloomberg)
  • How Companies Are Helping To Close The Racial Wealth Gap (Forbes).
  • Recent happenings that further diversity, inclusion in the natural products industry (New Hope)
  • ServiceNow workforce grew 26% last year, but its diversity percentages barely budged (Silicon Valley Business Journal)
  • CEOs say they are committed to racially inclusive economic growth, but is it just talk? (Washington Post)
  • ‘I Feel like I’m Drowning’: Women Business Owners Keep Hitting New Barriers to Federal Loan Aid (Government Executive)
  • How Four Women Made Miami More Equitable for Startups (Harvard Business School)
  • Shelly Bell Is Making Sure Black & Brown Women Entrepreneurs Get What They’re Worth (Elite Daily)
  • Don’t have the funds to hire your own diversity director? The Columbus Chamber has a solution for that. (Columbus Business First)
  • When diversity isn’t enough: Building the case for inclusion (HR Executive)

Industries and Categories

Sports / Media / Entertainment

  • 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) —
  • Lebron James Now Owns Part Of the Red Sox. What Does That Mean For Sports? (GBH)
  • Black Artist Database Relaunches with Expansion Announcement and Music Industry Initiatives (DJ Mag)
  • ‘We’re all stuck in this cycle of scarcity’: Revolt CEO on why Black-owned media needs more investment (Digiday)

Alcohol / Marijuana / CBD / Gambling

  • The Cannabis Industry Is Rooted in Racial Justice (Barrons)
  • Marijuana social equity: Seeds planted but will they grow? (AP News)
  • Minority Entrepreneurs Face Uphill Battle To Enter Legal Marijuana Market (Forbes)
  • Here’s what to expect at Charlotte’s first minority-owned CBD dispensary, Lavender House CLT (Charlotte Business Journal)
  • Efforts to Expand Jefferson Park Cannabis Dispensary Stall Amid Equity Concerns (WTTW)
  • New York Weed Dealers Face a Choice: Go Corporate or Stay Underground (Curbed)
  • Illinois to Unveil Plan For 110 New Adult-Use Cannabis Licenses (Cannabis Business Times)
  • Jay-Z Sets Up a $10 Million Seed Fund for Minority-Owned Cannabis Businesses (Green Entrepreneur)

Food / Restaurants

  • Black Female Founder Attracts Venture Capital With Allergy-Friendly Snacks (Forbes)
  • Black restaurants surviving pandemic (Bay State Banner)
  • 2020 Showed That Supporting Black-Owned Supermarkets Has Never Been More Important (Buzz Feed News)
  • Alternative delivery players challenge third-party delivery stronghold (Restaurant Hospitality) – Other options beyond DoorDash, Grubhub, and Uber Eats begin to emerge.

Finance / Investing / Venture Capital

  • American Express puts $40 million into a fund to provide loans to small business owners of color (CNBC)
  • ‘Lenders Look at Us as Black Before They Look at Us as Entrepreneurs’ (NASDAQ)
  • This Barack Obama adviser is quietly investing $250 million in startup founders of color (Vox)
  • Carver Federal Savings Bank review: Black-owned bank with a free checking Account (Insider)
  • What history can teach banks about making change (Money Control)
  • Fund Companies Push Diversity in Bond Trading (The Wall Street)
  • Black venture capitalist Eric Collins fights ‘tough odds’ in Europe(RFI)
  • New Effort Bets on Pittsburgh as a Hub for Black Venture Capital (Bloomberg)
  • Black and minority founders are being excluded from venture-capital funding, new study finds (Business Insider)
  • Black founders raise just 1% of pre-Seed venture capital funding (Growth Business)

Real Estate / Finance / Development / Segregation

  • Why Black Americans And Homeownership Lags Badly in Minneapolis (Wall Street Journal)
  • Why Black Neighborhoods Continue to Struggle (Governing)
  • The Racist Architecture Of Homeownership (NPR): How Housing Segregation Has Persisted (GPB)
  • A new study shows anti-Black racism is costing American homeowners hundreds of thousands of dollars (Business Insider) 
  • How Dayton-area highways contributed to segregation, and what comes next: 3 things to know (Dayton)

Technology / Apps / Innovation

  • Dream job 2.0: How social media influencers create a more accessible path to Celebrity (The Globe and Mail)
  • How Broadband Access Advances Systemic Equality (ACLU)
  • Actor Hill Harper to launch Black-owned digital wallet (Richmond Free Press)

Cities / Urban Planning / Local Government / Development

  • Black Equity and Excellence project is funding initiatives with long-lasting potential (WRVO)
  • New York is inching toward its MWBE goals. (City & State NY)
  • How Black-owned businesses can make the most out of the Biden infrastructure plan (Brookings Institute)
  • Black and Brown Millennials and Long Island economics (Long Island Business News) – Survey of Black and Hispanic Long Island Millennials. Martin Cantor is a leading expert on race and real estate development

Politics / Government / State and Local

  • The county where Black women hold power — a few miles from the White House (Washington Post)
  • Biden just recited his wish list for struggling American families. Now he has to deliver. (Washington Post)
  • Biden’s Tax-and-Spend Plans Are Big, But Wealth Gaps Are Bigger (Bloomberg)
  • Biden’s Proposals Aim to Give Sturdier Support to the Middle Class (NY Times)
  • VP Kamala Harris dropped by local minority-owned businesses during visit to the Tri-State (WCPO)
  • A former Georgia sheriff’s deputy said he wanted to charge Black people with felonies to prevent them from voting, court documents show (Business Insider)
  • ‘My VP looks like me’ (USA Today)
  • Vice President Harris leading small business outreach in White House recovery plan push (CNBC)

Law / Legal / Non-profits / Philanthropy

  • Kaiser Permanente Racial Bias Case
  • Class Action Lawsuit on Behalf of African American Employees in Administrative Support and Consulting Services Job Families at Kaiser Permanente (kaiserracebiascase.com)
  • Kaiser Permanente settles $11.5 million dollar racial discrimination suit (Forbes)
  • The Settlement Provides Money and New Workplace Programs for African American Employees (Business Wire) – Press release

Education / Healthcare

  • After a Traumatizing Year, Black People Turn to Therapy (New York Times)
  • What A $577 Million Settlement Will Mean For Maryland HBCUs (WWNO)
  • Fauci: Addressing healthcare access disparities will take decades (Medical Economics)
  • Colleges Are Sabotaging Black and Brown Students (Inside Higher Ed)
  • Hiewet Senghor drives Black teachers to strong relationships (Atlanta Business Chronicle)
  • Here’s What’s Driving This CSULB Professor To Achieve Black Health Equity In Long Beach (Patch)
  • LSU names next president; will be first Black president of university system (KATC)
  • Apple Joins The Effort In Fostering Teacher Diversity (Forbes)
  • Black Studies represents only 0.1 percent of all University of California system undergraduate degrees(The College Fix) – Right wing stuff and simple mined, but makes a point. “What good is a baby?”

Farming / Agriculture / Food Production

  • House AG Chairman: Use Tax Code To Encourage Purchases From Black Farmers (Successful Farming)
  • Warnock works to remedy decades of USDA discrimination against Black farmers (Colarado Newsline)

People, Careers and All Other

Career / Professions / Entrepreneurship / Businesses You Can Start

  • Advancing Black entrepreneurship amid a racial reckoning and a pandemic (ABC News)
  • Long before United, Black pilots flew freely in American skies (USA Today)
  • New books on the black pioneer WEB Du Bois (NextTV)
  • ‘Married to Medicine’ star Dr. Imani Walker says the strong Black woman stereotype is harmful (Yahoo News)
  • The State of Black Entrepreneurship (Sahan Journal)
  • Samsung Continues To Create Sustainable Opportunities In E-Waste Industry (Samsung) – South Africa

People / Motivation / Leadership / Success Stories / Ideas

  • Why Americans Can’t Have Nice Things (The Indypendent) – Heather McGhee book
  • 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)
  • Black Woman Entrepreneur Lands Historic Deal With Resorts World New York (Black Business)

Small Business Strategy

  • Youngest CEO of a Black-Owned Business Lands at Walmart (Yahoo Finance)
  • Black-owned school-lunch business moving to Philly area to create ‘culturally relevant’ meals for kids (Philadelphia Inquirer)
  • After the Pandemic and Protests, a British Rapper Spotlights Black Businesses (New York Times) — Black Pound Day was created to find a sustainable way to support Black-owned businesses

Caribbean / Africa / International

  • Samsung Continues To Create Sustainable Opportunities In E-Waste Industry (Samsung) – South Africa
  • Black venture capitalist Eric Collins fights ‘tough odds’ in Europe(RFI)

Travel / History

  • The mothers of Malcolm X, MLK and James Baldwin: New book explores how they shaped their sons (Washington Post)
  • JXN Project examines the history of one of the first Black urban neighborhoods (PBS)
  • Deconstructing segregation: How highways contributed, and what can be done about it today (Dayton Daily News)
  • Isabel Wilkerson: How Did The Great Migration Change The Course Of Human History? (NPR). A podcast episode mentioning the effects of the great migration.
  • A History Buff Leads Walking Tours Of Black Indianapolis (NPR)
  • ‘The Secret History of Home Economics’ Review: Engineering the Everyday (WSJ)

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)
  • Black Studies represents only 0.1 percent of all University of California system undergraduate degrees(The College Fix) – Right wing stuff and simple mined, but makes a point. Easy to refute with “People value the wrong things”, “Low enrollment is part of a larger problem in society” or “What good is a baby?” Why are these people even interested in Black Studies other than to generate headlines and cause division?

Opinion

  • Remove Governor Stitt from Tulsa Race Massacre Commission for signing HB 1775 (Black Wall Street Times)
  • Historically Black colleges need equal access to the bond market (The Hill)
  • America is having a Black Renaissance. We should learn from it. (Washington Post)
  • Why giving felons a second chance is the key to economic prosperity for America (MarketWatch). Underemployment for felons is a huge loss in economic potential.
  • CEOs speaking up for democracy is good business but employees and shareholders need to keep the pressure on (MarketWatch)
  • U.S. business moved to combat racism after George Floyd’s murder. Here’s what still needs to be done. (MarketWatch)