Black Business and Economic Stories for August 24th to August 30th

We have 62 stories this week. We have seven stories in our Black economics section and several stories in our people section.

Top Stories

  • Is this the end for America’s mom-and-pop stores? (Financial Times)
  • Erika James, Wharton’s first female dean (Philadelphia Inquirer)
  • The Owners of Fulton-Mecklenburg, a Digital Marketing Agency, Says Black Owned Businesses Need to Collaborate During Pandemic (EURWeb) – Here a good and detailed looking inside a Black marketing agency.
  • Light-Skin / Dark-Skin: How skin-tone bias affects racial equality at work (European Sting) – Very dry but something we all know is true. Society prefers people with lighter skin.
  • The Unequal Future of Consumption: Covid is changing earning and spending (The New Republic) – Good long article if you are trying to figure things out.
  • Rising Black Voices in Wine (Wine and Spirits Magazine)

Covid-19 / Coronavirus / PPP

  • The Unequal Future of Consumption: Covid is changing earning and spending (The New Republic) – Good long article if you are trying to figure things out.
  • Is this the end for America’s mom-and-pop stores? (Financial Times)
  • Report: Poorest Congressional Districts Shortchanged by PPP Program (Accountable.us)
  • Nations poor areas got billions less in PPP aid than rich areas, Report Finds(Tri-City Herald)
  • Chairwoman Maxine Waters Sounds Alarm on Coming Wave of Evictions (Jacksonville Free Press)
  • Report: COVID-19 Now is The Third Leading Cause of Death Among Black People (Jacksonville Free Press)
  • Coronavirus Is Hitting Black Business Owners Hardest (NY Times) – From June 18th.  Uses Fairlie data.

Protest

  • “Jobs, not ‘abstract notion of freedom’ were focus of first March on Washington” (WJLA TV)

Jobs / Workers / Unemployment

Black Business

  • New Black-owned financial center aims to build wealth, promote homeownership in North Omaha (Omaha World-Herald)
  • A New Moment for Black Bookstores (Publishers Weekly)
  • Not just a haircut: Barbershops, salons offer freedom and community (Youngstown Vindicator)
  • Shanel Fields is proving that now can actually be a good time to start a business (NBC News)
  • The Owners of Fulton-Mecklenburg, a Digital Marketing Agency, Says Black Owned Businesses Need to Collaborate During Pandemic (EURWeb) – Here a good and detailed looking inside a Black marketing agency.

Black Business General

  • Minority entrepreneurs at a tipping point as Black-owned banks dwindle in the U.S. (CNBC)
  • Black-owned firms in Boulder County seek inclusion (Daily Camera)
  • Temoura Jefferies, of High Point, creates Buy Black Guide as resource for Black-owned businesses (WFMY TV)
  • Fairfax County EDA forum spotlights access to capital for minority-owned businesses (Fairfax Times VA)

Big Business

  • Black Owned Celldration Premium Water Signs Historic Distribution Deal For 1100 Kroger Stores (Michigan Chronicle) – Interesting idea. Story reads like a press release.
  • Brooklyn Nets owners pledge $50 million to create ‘economic mobility’ in the Black community (CNBC)

Industry Spotlight

  • History of trucking in America (KAKE TV Wichita KS) – Kinda of interesting
  • Black Entrepreneur Creates Platform To Promote Diversity In The Cannabis Industry (NY Beacon)

Finance / Investing

  • How University of Chicago, Howard, & Other Endowments Are Tackling Asset Management’s Big Problem (Institutional Investor)

Discrimination

  • Light-Skin / Dark-Skin: How skin-tone bias affects racial equality at work (European Sting) – Article that confirms what we already know in a dry and boring manner.  Can’t they make this more salacious somehow with a glamourous light-skin woman next to a drab dark-skinned woman?  Oops, I guess that’s the point, huh.
  • Systematic Inequality and Economic Opportunity (Center for American Progress) – August 2019.  One of the defining papers on discrimination.

Inequality

  • Monroeville man saw ’To Kill a Mockingbird’ in segregated theater. Now he’s city’s 1st Black mayor(AL.Com) – Long time Black law enforcement official now mayor, says the key is jobs and economic development.

Reparations

  • California moves to consider reparations for slavery (AP News)
  • Education Subcommittee for Reparations Seeks New STEM School in Fifth Ward (Evanston Roundtable) — Interesting, they are going to use some of the reparations money to build a STEM school.

Gig Economy / California AB5 / Prop 22

  • Why Uber’s business model is doomed (Guardian)

Sports / Entertainment

  • Let’s call athletes ‘workers,’ and let’s call these NBA protests what they were – strikes (The Conversation)
  • NBA issues statement on social justice and racial equality (NBA)
  • Sixers’ $4B arena bid vows 35k jobs; Black and brown inclusion — goals similar projects failed to meet (WHYY Philadelphia)

Black Economics

  • Truth and  Redistribution: How to fix the racial wealth gap, end plutocracy, and build Black power (Yes Magazine) – Darrick Hamilton. Reparations, Baby Bonds, and a Wealth Tax.
  • Is Atlanta really Wakanda? Atlanta is Number one for income inequality. (11 Alive)
  • Democrats Have Failed Urban Black Americans (The New Republic)
  • The State of Black Milwaukee in National Perspective: Racial Inequality in the Nation’s 50 Largest Metropolitan Areas. (University of Wisconsin – Milwaukee Center for Economic Development) – Wow. Milwaukee is not a good place to be if you are Black.
  • Signifyin’: Final Levine Report (Milwaukee Community Journal) – Mikel Kwaku Oshi Holt gives a good summary of the report.
  • Executive Director David Clunie Calls for economic justice for Black Americans during march on Washington. (Black Economic Alliance)
  • Changing the Federal Reserve mandate could provide a down payment to ending racial inequality (The Conservation)
  • Systematic Inequality and Economic Opportunity (Center for American Progress) – August 2019.  One of the defining papers on discrimination.

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

  • Newark Paper Co., employee-owned cooperative, has ribbon-cutting in city meant to signify new era (ROI-NJ)

Straight Up Econ

Politics / Government

  • Kimberly Klacik Republican ad from RNC convention(Kim Klacik for Congress)
  • Rep. Welch on state opportunities for minority- and women-owned businesses: “The data is abysmal” (Illinois Capital Fax)
  • Racial resentment predicted white Americans’ economic evaluations in the 2012 and 2016 presidential elections (PsyPost)

People

  • Stephanie Chung Joins Wheels Up as Chief Growth Officer (Airline Industry News) (StephanieChung.com) – You aren’t big until you have your own website and can do speeches.
  • Fred Perpall, CEO of The Beck Group, says Blacks and Whites need to be more inclusive (Dallas Morning News)
  • Erika James: Bringing crisis management ideas to the oldest US business school (Financial Times)
  • Erika James, Wharton’s first female dean (Philadelphia Inquirer)
  • Erika James, First Black Woman to Lead a Top Business School, on the Corporate Diversity Problem (Bloomberg) – This profile is from 2014 when she became dean of Emory’s Business school.
  • IU education empowers couple to advocate for equality, give back to community (Indiana University Kokomo)
  • Six Black Female Entrepreneurs Who Are Changing Their Industries For Good  (Harpers Bazaar)
  • Rising Black Voices in Wine (Wine and Spirits Magazine)

Education

  • Black Families Don’t Need ‘Fixing.’ They Need Better School Funding (Education Week) – Andre Perry
  • How much is your N.C. A&T degree worth? (Black Engineer)

Leadership

  • Here’s what it takes for Black girls to become leaders, according to Michelle Obama (CNBC)
  • Six Black Female Entrepreneurs Who Are Changing Their Industries For Good  (Harpers Bazaar)

Real Estate / Real Estate Finance

  • Why Are Billionaires Schwarzman and Palmer Using A Shell Committee to Funnel Big Bucks to ‘No on Prop 21’ Campaign? (City Watch LA) – California Proposition 21 gives local governments rent control power.
  • How federal housing programs failed Black America (Nation) – Discussion of Keeanga-Yamahtta Taylor’s new book “Race for Profit.”

Re-entry / Corrections / Police

Travel

  • Meet The Black Woman Revisioning The Historic Green Book Travel Guide (NY Beacon)
  • The Long Fight for Restitution (Conde Nast Traveler) – African countries try to regain artifacts.
  • Inside Audacity Fest, Where Black Travelers Have an Open Conversation about Travel (Conde Nast Traveler)
  • Conde Nast has struggled with racism
  • Former Condé Nast employees expose racial issues at publishing giant (Page Six)
  • A Reckoning at Condé Nast (NY Times) – June 2020

Conservative / Alternative

  • Belinda Keiser: School Choice is the Secret to Trump’s Strong Economy (Daily Florida)

Law / Legal

  • Black Firm Leaders Drive Big Law Social Justice Efforts (Bloomberg Law)

Non-profits / Philanthropy

  • Local Black-Led Nonprofits Join National ‘Give 8/28’ Day (Sarasota Magazine)
  • Advancing Economic Justice: How the Ford Foundation Is Investing in Diversity (Wharton Magazine)

Classic / Old but Good

  • The Road to Zero Wealth: How the Racial Wealth Divide is Hollowing Out America’s Middle Class (Prosperity Now)

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