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

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