Stories for Jan 11th to 17th

Top Stories

  • Good News For Minority-Owned Businesses: Community Banks Get First Crack At The New Round Of PPP Loans (Forbes)
  • New PPP Regulations to Prioritize Minority-Owned Business Applauded By Black Business Owners (Food & Beverage) — A third round of the Paycheck Protection Program (PPP) opened on Jan. 11, prioritizing minority-owned businesses and community lenders.
  • TikTok Launches ‘Black Creatives’ Program to Foster New Talent (TikTok Newsroom)
  • The Work Diary of an Executive Who Must Find Just the Right Words (New York Times) — One of the youngest Black C-suite executives on Wall Street, Ms. Patrick, 31, has rocketed through her field since graduating nine years ago from Princeton as a classics major.
  • Bitcoin’s roller-coaster ride shows why people should be cautious before investing in cryptocurrency (CNBC). However, buying in the long run can lead to financial freedom for African Americans. Bitcoin is a good savings ‘Plan B’ for Black investors, says Isaiah Jackson (CNBC). Same story as above, slightly different perspective.
  • The Basic Facts About Children in Poverty (Center for American Progress) – Long with all the details.  A great resource on child poverty.

All Stories

Protest / Social Justice

  • Fast food workers go on strike in honor of Martin Luther King Jr. (CNN)

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

  • Good News For Minority-Owned Businesses: Community Banks Get First Crack At The New Round Of PPP Loans (Forbes)
  • NC leads nearby states in vaccine distribution to African-Americans (WWAY 3)
  • BIPOC-owned businesses get an early shot at third round of PPP loans (Fox 9)
  • What Will 2nd Round Of PPP Loans Mean For Charlotte’s Black Businesses? (WFAE) — Businesses can begin applying for another round of Paycheck Protection Program loans this week. Only a small fraction of Black-owned businesses has received loans as part of the CARES Act.
  • New PPP Regulations to Prioritize Minority-Owned Business Applauded By Black Business Owners (Food & Beverage) — A third round of the Paycheck Protection Program (PPP) opened on Jan. 11, prioritizing minority-owned businesses and community lenders.
  • More Businesses Will be Able to Apply for PPP Loans Next Week (The New York Times) — After giving small lenders a head start, the Paycheck Protection Program will open for all applicants on Tuesday, the Treasury Department said on Wednesday.
  • PPP Loan Program Reopens with Emphasis on Minority-Owned Businesses (NBC Miami) — The third round of the loan program is prioritizing applications from small community financial institutions on the first days of reopening.
  • COVID-19 job losses will worsen L.A. homelessness by 2023, new report says (LA Times) – There are and estimate 129,000 homeless people in California and 66,000 in LA County. The report by the Economic Roundtable is here. – Report has lots of statistics but focuses on low wages causing homelessness.

Jobs / Workers / Unemployment / Gig Economy

  • Once again, job losses fall unequally across the US economy (Boston.Com)
  • When Identities Collide: Being A Black Woman Working Alongside The Police (Madame Noire)
  • Netflix has doubled its Black workforce since 2017, but says it still needs to hire more Latinos (Philadelphia Tribune) — The company’s new demographic data shows its Black US employee population grew from 3.8% of its workforce in 2017 to 8% in 2020.

Inequality / Systemic Racism / Economic Justice

  • The Basic Facts About Children in Poverty (Center for American Progress) – Long with all the details.  A great resource on child poverty.
  • How social networks impact economic mobility in Racine, WI, San Francisco, CA, and Washington, DC (Brookings)

Black Business

Black Business General / Interesting Businesses Stories

  • Black-owned businesses on San Antonio’s East Side to host socially distanced MLK Day block party (SA Current) — The MLK Day march may be virtual for 2021, but several local businesses are offering a socially distanced in-person celebration on the city’s East side, mySA reports.
  • Looking ahead for local Black business owners this Martin Luther King Day (Standard Examiner) — As Black business owners continue to look ahead this Martin Luther King Jr. Day, there are some key considerations that can be made to plan for a future where certainty is categorically uncertain.
  • Innovative Black Business Incubator Brings New Opportunities to West Louisville (Spectrum News 1) — An exciting, innovative Black business incubator is bringing new opportunities to West Louisville.
  • Manasota Black Chamber, USF partner to highlight opportunities for small businesses (Bradenton) — The Manasota Black Chamber of Commerce and the University of South Florida are partnering on an online seminar for small business owners to learn how to register as a vendor to do business with USF.
  • PenFed Foundation wants to jump-start Black veteran owned businesses (Connecting Vets) — A challenge supporting Black veteran, active duty, Guard, Reserve, and military spouse entrepreneurs has been launched by the PenFed Foundation.
  • Local online website designed to help Black-owned business expands nationwide (ABC 7) — Spicy Green Book started off as a website designed to help local Black-owned businesses, now it’s a nation-wide guide and there’s even an app.
  • 61 Must-Try Black-Owned Restaurants in the U.S. (Woman’s Day) — Support the Black community by patronizing any one (or all!) of these Black-owned restaurants.
  • 36 Years of Vegan Soul Food: How Simply Wholesome Built A Black Utopia of Wellness in L.A. (LA Taco) — Everything about Simply Wholesome feels like a small Black utopia of wellness.
  • Here’s how large companies are helping minority-owned businesses in Charlotte (WCNC Charlotte) — Minority-owned businesses in Charlotte now have a new chance to grow their business thanks to some of the city’s biggest names.

Black Business Specific

  • Local woman launches magazine to support Black-owned businesses (Kansas City)
  • Young pastry chef develops successful online bakery business (Khon2) — A young pastry chef in Brooklyn, New York is mixing her love of baking and a keen sense of business to create a unique virtual business.
  • Local entrepreneur launches magazine to support Black-owned businesses (The Kansas City Star)
  • Ashley Walker open Smoothie business in former Ice Cream shop in Riviera Beach, FL (WPTV)

Big Business / Corporate

  • Starbucks pledges $100 million to help small businesses and Black communities (CNBC)
  • Fiserv offers grants to Metro Atlanta’s minority-owned small businesses in Metro Atlanta (MDJ Online) — Back2Business program is offered by Fiserv Inc., a Brookfield, Wisconsin-based payments and financial services technology company.
  • Apple invests $10 million in venture capital firm focused on diverse founders (CNBC)
  • TikTok Launches ‘Black Creatives’ Program to Foster New Talent (TikTok Newsroom)
  • Apple to Open Developer Academy, Provide Funding for Minority Entrepreneurs (The Wall Street Journal)
  • Black Girl Ventures Reveals Plans for Nike’s $500,000 Investment (WWD) – Shelly Bell, founder and chief executive officer of Black Girl Ventures, has set in motion plans to allocate the $500,000 investment from Nike Inc.
  • Sephora’s plan to combat racial bias: Fewer security guards, more Black-owned brands, and new protocols (Philadelphia Inquirer) – Sephora outlines its plan for more inclusivity.
  • Comcast program to help boost Black-owned Memphis businesses (Memphis Business Journal) – Comcast helping Black Businesses during a time when they need it most.
  • Fluent Announces Recipients of Inaugural Business Empowerment Program to Support Minority and Women-Owned Businesses (Yahoo Finance) – Fluent announced the recipients of its first Business Empowerment Program.

Reparations / Affirmative Action / Diversity / Inclusion

  • In First Act of New Congress, Rep. Sheila Jackson Lee Introduces Reparations Bill (Seattle Medium)
  • Organizers Of D.C. March For Reparations Say They Won’t ‘Cower In Fear Of Terrorist Threats’ (DCist)
  • Netflix has doubled its Black workforce since 2017, but says it still needs to hire more Latinos (CNN)
  • HP Unveils Bold Goals to Advance Racial Equality and Social Justice (3BL Alerts) – HP strategy involves identifying and executing on the biggest opportunities we have as a company to drive societal change, first in the U.S., then globally.
  • Expert: Targeted relief needed for minority business owners (WCBS 880) — Black and brown business owners are disproportionately affected by the coronavirus pandemic in ways that makes general government relief harder to obtain and be effective.
  • What 10 Black and Latinx entrepreneurs say they need to succeed in Philadelphia (Technically) — More easily accessible resources, mentorship, earlier institutional support, better representation among decision makers and support for capacity building all emerged as calls from these local founders of color.
  • Richmond Office of Minority Business Development Offers Opportunity To Participate In Diverse Supplier Mentoring Program (Patch)
  • Bowling Green Program Aims to Level Playing Field for Minority Owned Businesses (WKU)
  • James Beard Foundation Opens Food and Beverage Fund for Black and Indigenous Americans (FSR Magazine)

Economics

Black Economics

  • Can a ‘Guaranteed Income’ for Black Entrepreneurs Narrow the Wealth Gap? (Bloomberg) — Monthly cash payments, no strings attached.
  • Black owned businesses essential to continued economic growth in Massachusetts (WWLP) — State Senator Eric Lesser held a livestream discussion with Black Economic Council of Massachusetts (BECMA) executive director Segun.
  • Black Philanthropy Initiative Requests Video Proposals for Impact Grants Program (Yes Weekly) — The Black Philanthropy Initiative (BPI) is now accepting applications for its Impact Grants program. Organizations may apply for grants of up to $1000.
  • The US economic recovery is skipping Black and Hispanic women (Quartz) — The American economy is slowly recovering, but Black and Hispanic women are being left behind.

Industry Stories

Sports / Media / Entertainment / Arts

  • D.C. United Names Danita Johnson President of Business Operations, First-Ever Black President in Major League Soccer (Afro Tech)
  • NBA’s Milwaukee Bucks Announces Joint Initiative to Empower Black Entrepreneurs Nationwide (Afro Tech)
  • Why do some NFL teams never hire people of color as GMs and coaches and others do? (USA Today)
  • Minnesota’s pro sports teams pledged $40 million to social justice causes. Where is it going? (Star Tribune) — George Floyd’s death spurred an aggressive commitment of financial support and athlete involvement. 
  • FC Dallas launch program to aid local Black and minority-owned businesses (MLS Soccer) — The Hometown Partner Program will provide five certified Black and minority-owned businesses a $100,000 FC Dallas/North Texas SC customized sponsorship package.
  • ‘Invisible Men’ chronicles pioneering Black artists of the early comic book industry (Detroit Free Press)

Alcohol / Marijuana / CBD / Gambling

  • Illinois sitting on $62 million in cannabis revenue meant to foster businesses and help neighborhoods hurt by poverty and violence (Chicago Tribune)
  • Nano Hydrate, Inc. Black-Owned CBD Manufacturer, Launches Product Development Services Using Innovative Technology (PR Newswire)
  • Black-Owned Pot Businesses Remain Rare Despite Diversity Efforts (Pewtrusts) — Left-leaning state and city leaders nationwide have embraced social equity marijuana licensing programs, which aim to make amends for decades of aggressive policing of low-income, minority people and help them thrive in the multibillion-dollar legal pot industry.

Beauty / Fashion / Retail

  • ‘I just like women to feel beautiful’. Woman opens Black owned nail salon in Canton, Ohio. (Alliance Review)

Technology / Apps / Innovation

  • LA Times Today: Entrepreneurs behind ‘Blacktag’ – a streaming service for Black creators (Los Angeles Times)
  • Local online website designed to help Black-owned business expands nationwide (ABC 7)
  • She uses tech to make matches (Chicago Business) — Shaniqua Davis of Noirefy, which maintains a database of diverse candidates looking for corporate jobs, is busier than ever.
  • How Black users are saving Clubhouse from becoming a drab hangout for tech bros (CNBC)
  • The app MelaninPeople connects social, business and professional people of color from all over the world. The MelaninPeople service offers a social media app, e-magazine, podcasts and business listings.

Finance / Investing / Venture Capital

  • Why life insurance plays a key role in closing the racial wealth gap, according to a financial advisor (Business Insider) – Not so sure about this one.
  • Bitcoin’s roller-coaster ride shows why people should be cautious before investing in cryptocurrency (CNBC). However buying in the long run can lead to financial freedom for African Americans.
  • Bitcoin is a good savings ‘Plan B’ for Black investors, says Isaiah Jackson (CNBC). Same story as above, slightly different perspective.
  • Eli Lilly chips $30M into VC fund aimed at minority-owned healthcare companies (Fierce Biotech) — Companies are tackling the issue on multiple fronts, including diversifying their workforce and making sure they’re testing their drugs in diverse populations.
  • Duke Energy invests in minority business through S.C. bank (GSA Business) –Duke Energy deposited $5 million into Black-owned Optus Bank to amplify the company’s support for minority-owned business and low-income communities at the end of 2020.
  • Thirteen Lune, a Marketplace That Promotes Black- and Brown-Owned Beauty Brands, Seeks Seed Funding (Business of Fashion) — Thirteen Lune is calling on venture capital investors that have been vocal about a commitment to meaningful change and representation of diverse founders

Real Estate / Finance / Development / Housing / Segregation

  • Home Value Disparities Between Races Are Shrinking, but Remain Very Wide (Zillow). Original story from Dec. 19th.

Cities / Urban Planning / Local Government

  • Daytona Beach’s Midtown is profiled (Daytona Beach News-Journal)
  • Madison to deliver $250,000 for Center for Black Excellence and Culture (Wisconsin State Journal) — Center is envisioned as a place to develop Black-owned businesses, celebrate Black culture and history and become a landmark at the prominent city gateway at the Beltline and South Park Street.
  • New Downtown Venture a Success (Spectrum News) — “Black Friday Market” is a store for multiple small businesses that do not have a physical store front.

Politics / Government / State and Local

Education / Healthcare

  • Fed Presidents Reiterate Calls for Addressing Race in Education (Bloomberg)

Farming / Agriculture / Food

  • James Beard Foundation to Provide Grants to Black-Owned Food Businesses (Barron’s)
  • The Sausage-Making to Revive a Black-owned Sausage Factory in New Orleans (Next City)
  • List of Black Owned markets in New Orleans (Big Easy Magazine)

People and Careers

People / Motivation / Leadership / Success Stories / Ideas

  • The Work Diary of an Executive Who Must Find Just the Right Words (New York Times) — One of the youngest Black C-suite executives on Wall Street, Ms. Patrick, 31, has rocketed through her field since graduating nine years ago from Princeton as a classics major.
  • Black-owned business Kanarys gets a $3 million investment (Lake Highlands) — With this chunk of change, Mandy Price and Star Carter, two of the three founders, join 91 other Black women that have raised over $1 million in venture capital funding this past year.
  • Zerina akers is Helping Black-owned Businesses Take Center Stage For Years To Come (Coveteur) — With Black Owned Everything, the celebrity stylist is taking on the role of a founder.
  • North Bay artist-turned-designer co-launches luxury clothing line (North Bay Business Journal) — Black fashion designer Andrew Akufo would be the first to say he’s color blind at the suggestion he would create a clothing line for one race.
  • Central City Is Home To Lousiana’s Only Black-Owned Winery: Ole’ Orleans (Very local New Orleans) — As a working mother, a schoolteacher and an African-American woman, Kim Lewis isn’t the typical picture of a wine vintner. 
  • Rihanna Just Invested in This Vegan Black Woman-Owned Business (Live Kindly) — Rihanna just invested in Partake Foods, a Black- and woman-owned vegan cookie business.

All Other

Travel / History

  • The iconic American inventor is still a white male — that’s an obstacle to race and gender inclusion (Salon)

Opinion

  • Opinion: Reparations are needed for Black Americans and California is leading the way. Here’s how. (San Diego Tribune

Other

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