Category Archives: Money & Finance

Black business matters: Why black America needs more investment

The largest depressant on American growth is the credit crunch for African-American households and businesses. As co-founder of the 14th National Black Business Month with Frederick E. Jordan Sr., I annually assess the state of black business each May. Since the 2008 recession, business lending to African-American businesses has fallen 75 percent. Although small businesses… Read More »

Targeting the Corporate Giants that Target Communities of Color to Extract Wealth

A new organization based in Chicago, the Action Center on Race and the Economy (ACRE), aims to support groups pushing for structural change in our economy by targeting the “financial elite responsible for pillaging communities of color, devastating working class communities and harming our environment.” In this interview, the co-founders of ACRE, Maurice BP-Weeks and… Read More »

Poll: Blacks less likely to have enough for retirement

Older white Americans are nearly twice as likely as African-Americans to say they’ve saved enough for retirement, a new poll found. The Associated Press-NORC Center for Public Affairs Research survey also found that African- Americans and Latinos have less financial security than whites and will rely on fewer sources of income during retirement. The retirement… Read More »

Wells Fargo and the “Cherry Picking” of the Black community

Recently Wells Fargo bank’s Office of Corporate Communications responded to our series of articles by stating that African American newspapers were included in their “Open Letter” ad campaign which was suppose to “rebuild trust.” The inference was that because we used a “few” African American newspapers, in some communities, that should be sufficient for all… Read More »

Blackonomics…What do Blacks control economically?

The Vietnamese control the nail industry; the Koreans control the major distribution channel for Black hair care products; Jewish people control the music industry; the Indians/Pakistanis control a major portion of the hotel/motel industry; and the Chinese control economic enclaves, as do Greeks, Italians, Mexicans, Cubans, Polish, and Irish people. What do Blacks control? That… Read More »