Top Stories
- What a Drop in Promotions for Black Workers Says About Corporate Diversity Efforts (The Wall Street Journal)-Since the passing of George Floyd, discussions on race, equity, and opportunity have sparked American companies to hire and promote more black professionals.
- Fed Chair Powell hears struggles of Black founders at Spelman visit(Atlanta Journal-Constitution) – Along with Lisa Cook and Raphael Bostic.
- Grant Warner, director of the Center for Black Entrepreneurship, shares how HBCUs are building the next generation of Black businesses. (Word in Black)
- As US job market softens, gains of minority groups hang in the balance (Reuters) – Nice summary of Black employment.
- Affirmative Action Backlash Is Coming for Your Business. Here’s What You Can Do. (Ms. Magazine)
- Big Mass. companies fall short on Black, Hispanic hiring (Bay State Banner) — Minority hiring was reported at 14%. Another great story about long-term discrimination in corporate America. They used FOIA to get hiring information on businesses with government contracts. Companies refuse to share data on minority hiring in Massachusetts (Bay State Banner) – Great reporting.
- A Strong Labor Market Has Narrowed Gaps in Participation and Employment between Black and White Non-College Men (KC Fed)
- Federal Reserve’s Proposed Regulation Could Harm Small Businesses-Especially Minority-owned” (Black Voice News) – Large banks may be required to hold more capital which would reduce profits (called “Basel III”). Large bank lending caused the recession of 2008. No one was held accountable. Now they are trying to rig the system again with a fake PR campaign saying it will hurt minority lending. Give me a break. They already discriminate.
- A profile of the working poor, 2021 (Bureau of Labor Statistics) – Important stuff
Better than Economics…
- The Genius Behind Bisa Butler’s Vibrant Quilts (Smithsonian Magazine)
- Bisa Butler weaves the Black diaspora together in dynamic, electric-colored quilted portraits (WBUR)
- 7 Important Members of the Black Panthers You Need to Know (The Collector) – Wow. Good history lesson.
- Thomas Edison tried to take credit for a device created by a Black American inventor (Business Insider) – Granville woods of course.
African American Business
33 Black-Owned Businesses To Shop This Holiday Season (Real Simple)
Black Americans need better immigration policy (Post and Courier) – By Andre Barnes who is the HBCU Engagement Director for NumbersUSA.
So this is an interesting read with lots of background. NumbersUSA is a conservative organization that believes in strict and low levels of immigration. The founder was associated with White supremacist ideas but he no longer is associated with the organization. NumberUSA claims to be non-partisan and non-racist.
African Americans getting in on the new-age jobs being ‘manufactured’ in Pittsburgh (New Pittsburgh Courier)
Black Corner Store Up For Sale (New Haven Independent)- Black-owned business tries to find a way to keep their neighborhood storefront afloat.
Enhancing Supply Chain Diversity: A Perspective from D.C.(Greater Houston Partnership)
African American Economics
*There’s a financial literacy gender gap − and older women are eager for education that meets their needs (The Conversation) — Black and Hispanic women saw a greater financial literacy gender gap, lower than those of white, non-Hispanic men.
Beyond Dichotomies in the Quest for Raciosemiotic Architecture: Black Immigrants in the United States (Teachers College Press)
Building for peace in communities of color (cpusa.org)
As US job market softens, gains of minority groups hang in the balance (Reuters) – Nice summary of Black employment.
Black Business
Harlem candle company created candles based on famous figures from the Harlem Renaissance (Inc Magazine)
Google’s Black-Owned Friday is ‘100% Pure Love’ to Black businesses (The Black Wall Street Times)
Advancing Your Black Talent In Fintech And Beyond (Forbes)
Five Black-owned Baltimore businesses worth checking out (The Baltimore Banner)
Celebrating Melanated Magic: The 2023 Black Business Bazaar Returns to Indianapolis (EIN News)
*Founder’s New App Aims to Showcase 1 Million Local Black-Owned Brands and Businesses (Black News)-XCLUSIT, an app created by Vincent Johnson is a platform that allows black owned businesses to showcase their business.
Black Economics
As the US job market softens, gains of minority groups hang in the balance (REUTERS)-Economists who have studied employment during the aftermath of covid state that, Black, Hispanic, and less educated workers saw outside gains relative to whites or college degree holders whose fortunes typically outpace others.
Affirmative Action Backlash Is Coming for Your Business. Here’s What You Can Do. (Ms. Magazine)
Big Mass. companies fall short on Black, Hispanic hiring (Bay State Banner) — Minority hiring was reported at 14%. Another great story about long-term discrimination in corporate America. They used FOIA to get hiring information on businesses with government contracts.
Companies refuse to share data on minority hiring in Massachusetts (Bay State Banner)
A Strong Labor Market Has Narrowed Gaps in Participation and Employment between Black and White Non-College Men (KC Fed)
‘Data really matters:’ DEI Summit offers data deep-dive on economic issues (Business Journals)
General Economics
Generational tobacco ban will fuel black market, says new IEA paper(Talking Retail)
Fed Chair Powell hears struggles of Black founders at Spelman visit(Atlanta Journal-Constitution) – Along with Lisa Cook and Raphael Bostic.
A profile of the working poor, 2021 (Bureau of Labor Statistics) – Important stuff
Why Americans’ ‘YOLO’ spending spree baffles economists (BBC) – Why do Americans keep spending?
The housing finance market is broken, let us Cannabis bonds to create housing finance cooperatives (Forbes)
Minority Business
Federal Reserve’s Proposed Regulation Could Harm Small Businesses-Especially Minority-owned” (Black Voice News) – Large banks may be required to hold more capital which would reduce profits (called “Basel III”). Large bank lending caused the recession of 2008. No one was punished and now they are trying to game the system again with a fake PR campaign saying it will hurt minority lending. Give me a break. They already discriminate.
How This New Bill Would Fund Entrepreneurs of Color in the Wake of Affirmative Action’s Demise (Inc.)
How Austin’s Ying McGuire is helping minority-owned businesses compete in a global market (KUT News)
Minority Entrepreneurship Grant Program Act Introduced to Empower HBCU Entrepreneurs (Shoppe Black)
Black Business Boom Celebrates 5 Years of Creating Financially Savvy and Bankable Minority Businesses in Nashville and Beyond (Cision PR Newswire)
Entrepreneurship
Grant Warner, director of the Center for Black Entrepreneurship, shares how HBCUs are building the next generation of Black businesses. (Word in Black)
Wells Fargo invests $1.5m in Russell Innovation Center for Entrepreneurs (Atlanta Voice)
Medical/ Healthcare
Affirmative action backlash hits maternal health program (The Charlotte Post)-Abundant Birth Project is facing a lawsuit, alleging that the program illegally discriminates by giving stipend only to people of a certain race.
Black patients face delays in Alzheimer’s diagnosis, research finds (Medical Xpress)-Black patients underwent medical imaging for cognitive impairment years later than white and Hispanic patients and were tested less with MRI.
Politics
Black voters reveal to the NY Times reasons they’re hesitant to re-elect Biden in 2024: ‘He’s too old’ (Fox 22)
A group of Black voters recently sounded off on Biden, Trump, and their feelings about Democrats. One voter said the party ‘has forgot about the Black male.’ (Business Insider)
Biden-Harris on HBCU’s – Walk It Like They Talk It (Milwaukee Courier) – Biden / Harris administration touts records support for Black colleges and Universities.
Real Estate
Challenges, opportunities for Black real estate agents, home Buyers (St. Louis American)
The Curious Partner in Big Banks’ Drive to Weaken Capital Rules (The American Prospect)-Raising capital requirements for banks, could potentially hinder the ability of Black-owned businesses to secure the financing to start their businesses.
Retail
Amazon had Record-Breaking Black Friday and Cyber Monday sales. (Amazon) – Customers purchased one(1) billion items on Amazon worldwide.
Arts and Entertainment
Kevin Hart’s Gran Coramino Tequila Brand will support Black and LatinX small businesses with $10,000 Grants (Cision PR Newswire)
Bisa Butler weaves the Black diaspora together in dynamic, electric-colored quilted portraits (WBUR)
The Genius Behind Bisa Butler’s Vibrant Quilts (Smithsonian Magazine)
For Her Next Round, Toni Tipton-Martin Orders Up a Book of Cocktails (NY Times) – Paywall. African American cocktails and drinks
Bisa Butler – Artist and Quilter
International
Europe’s business schools target Africa’s entrepreneurs (Financial Times)
How can Africa widen the tax net? (African Business) – The tax to GDP rate is low in Africa, for many reasons. How can Africa improve tax collection?
Leaks reveal how McKinsey drives African climate agenda (Climate Change News) – If Mckinsey is involved, you have to take a closer look.
Finance
New California law requires diversity reporting for venture capital and private equity firms (Reuters) – Nice job California. “Governor Gavin Newsom signed SB 54, titled Fair Investment Practices by Investment Advisers (the “New Diversity Reporting Law”), which requires “venture capital companies” to collect and report, the demographics of the “founding team members” at the companies they invested in during the prior year. Place your discrimination bets here. I am guessing 95% White and 80% male.
Environment
Black Friday is an environmental nightmare. The Victorians had a much more sustainable approach to fashion (Phys.org) – Article focuses on re-use and mending of clothes
Black communities in Southeastern states are more likely to be exposed to extreme weather events than overall population (CNN)
Technology
What roles do gender and race play in the IT job market? (Technical.ly) – Race and gender influence IT entry level staffing. Black men were discriminated against the most.
Education
One HBCU is planning to use the research conducted on its campus to tackle national challenges (US Black Engineer) – Morgan State again.
Government Contracting / Construction
Milwaukee Could Add Race, Gender To Contracting Requirements (Urban Milwaukee) – Excellent summary and links to Milwaukee dispartiy study. The study looked at city contracts from 2015-2019. The articles also cites and earlier Milwaukee disparity study from 2010 which shows the same disparity in contracts.
The full results of the study and presentation are here on Milwaukee city council page. They have the study and powerpoint summaries.
On possible snag is the Wisconsin state legislature which has outlawed discrimination in any jurisdiction receiving state funds.
NAACP opposes letting non-citizens qualify as minorities in Columbus contractor program(Columbus Dispatch)
History
7 Important Members of the Black Panthers You Need to Know (The Collector) – Wow. Good history lesson.
Thomas Edison tried to take credit for a device created by a Black American inventor (Business Insider) – Granville woods of course.