May14

For-Profit Colleges Burying Low-Income Students In Debt

For-profit universities have expanded rapidly since the nineties, but in recent years the postsecondary education institution has come under fire for targeting low-income students and military veterans in order to line their pockets.
There’s growing concern that students, who enroll in schools including DeVry Institute and University of Phoenix, are ending up saddled with student-loan debt as high as six figures—and not to mention a completely worthless degree.
“I got taken advantage of, and now I’m struggling to pay the bill for it,” said Chelsi Miller, a single mother from Salt Lake City who graduated from Everest College with $30,000 in student loans. She later learned state universities wouldn’t take her credits from the online university.

 Renowned Economist Urges African Americans To Change Spending Habits
Apr09

Renowned Economist Urges African Americans To Change Spending Habits

With the actual unemployment rate of Blacks in America over 50 percent, the nation’s economy must turn around and produce more jobs if Blacks have a chance of survival,” wrote economist Dr. Claud Anderson, who notes that today “blacks spend approximately 95 percent of our income outside of our communities. Only two percent remains in black hands inside the black community.”

Anderson’s comments reflect deep concerns that despite high black unemployment, black America’s buying power just keeps on growing—and not in the right direction.

Christ Our Redeemer Hosts Business Conference In New Facility
Oct13

Christ Our Redeemer Hosts Business Conference In New Facility

In celebration of the 60th anniversary of the Civil Rights Movement, a coalition of faith leaders, bank executives, business entrepreneurs, educators and the director of the U.S. Consumer Financial Protection Bureau will converge at The National Faith Leaders, Educators, Small Business and Youth Conference on Friday October 3rd and Saturday October 4th.

“The church must do more to complete the unfinished work of Dr. Martin Luther King Jr.,” said Mark Whitlock, Senior Pastor of Christ Our Redeemer, AME Church in Irvine, California and conference host.

Economists Caution: Save Now Or Pay Later
Sep11

Economists Caution: Save Now Or Pay Later

Some troubling numbers have recently emerged that hint towards difficult times financially during two of the most fiscally important periods in a person’s life: when they first graduate from college and get a job, and when they retire.

Bankrate.com found that 36% of adults don’t have retirement savings - and 14% of Americans 65 and older haven’t even begun putting money away. This is particularly concerning when taking into consideration the fact that financial experts suggest savings at least 8 times your ending salary to ensure you can support your lifestyle for 25 years or so after you stop working.

Lupita Nyong’o: Businesswoman and Fashion Icon
Jul03

Lupita Nyong’o: Businesswoman and Fashion Icon

Who says what you wear doesn’t matter?

During the 86th Academy Awards Ceremony, Lupita Nyong’o jokingly handed Ellen DeGeneres her lip balm as payment for the comedian’s running joke of ordering a pizza. The Clarins HydraQuench Lip Balm brand she had tucked into her purse for the night quickly became the focus of pictures, screenshots, internet searches within minutes, as #lupitaslipbalm trended on Twitter the whole night. Within twenty-four hours, Clarins had to make a statement to the public that all of their locations had sold out of the product, but that they were making an extra-large order from Paris to increase their stock, easily making thousands simply because their lip balm had been pocketed by the rising star before she left for the Oscars.

Mar03

Jesse Jackson Holds 17th Annual Wall Street Economic Summit

55th Anniversary Of Ben's Chili BowlAt the Rainbow PUSH Coalition and Citizenship Education Fund's 17th annual Wall Street Project Economic Summit held in New York last month, Reverend Jesse Jackson announced to hundreds of political, corporate and entrepreneurial leaders that “The struggle is not over.”

Held at the Sheraton Times Square Hotel with the theme "50 Years After the Civil Rights Act: The Unfinished Agenda for Economic Justice,” this year’s economic summit focused on home foreclosures, unemployment and the decline in Black businesses.

Despite living in an economic atmosphere decades after the Civil Rights Movement, Jackson provided evidence that proved black business continues to suffer. Even more appalling is the lack of diversity at the corporate level.

“For more than 50 years, Black Americans have increased their buying power from $37 billion to over a trillion dollars. But our consumerism has not translated into a fair share of contracts and jobs with corporate America,” said Jackson. “Income inequality is a growing concern, and the financial crisis didn’t help.

“In the U.S., the wealthiest 1 percent grabbed 95 percent of the post-2009 growth, and the bottom 90 percent became poorer. While financial transactions are of particular interest to the Wall Street Project, there is increasing concern generally about lack of opportunity.”

A report shows 33 percent of all African-Americans own smartphones and use double the mobile phone minutes as whites do, yet when Verizon did the biggest corporate bond sale in history last September, no minority banks or broker dealers were used. Instead, fees of $265 million went to a handful of majority-owned banks.

“The companies that we use—like Twitter, Apple and Google—we trade with them, and they don't trade with us,” Jackson told the AmNews. “Not a single Black on their boards. We want to talk about advertising in Black-owned media with companies where we purchase products from. It’s about fair equity in the economic arena.”

Reverend Jackson brought together the nation’s leaders in political, corporate, entrepreneurial and other industries to discuss the economic congruity and concerns distinctive to African-American and Hispanic men and women and people of diverse cultures.

Jackson also honored several Black media outlets, including the Amsterdam News, Johnson Publishing Company, the National Newspaper Publishers Association, the Daily Challenge and Positive Community.

Jackson said he honored the media outlets because they allow the Black point of view to be heard.

“They will always fill a significant niche that must be respected. These papers need subscribers and ads, and we must support these publications in concrete terms,” he said.

But Rev. Jackson is not taking this sitting down, he and the Rainbow PUSH organization recently launched an initiative urging black America to “Become One in A Million,” by joining the RPC Million Member Campaign Today, visit www.millionmember.rainbowpush.org.

First Ladies High Tea
November will mark the 20th Anniversary of our Annual First Ladies High Tea, honoring the contributions of female leaders and women of faith to the Los Angeles community. For more information, visit www.firstladieshightea.com
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