Category: Business/Finance

business and finance

NJ Assemblywoman Angela McKnight and Financial Blogger Tiffany Aliche Create Bill to Teach Middle Schoolers Money Management

The signing of Bill A1414 (Assemblywoman Angela McKnight, 3rd from left; Acting Governor Shiela Oliver, seated. Credit: Anthony McKnight)

by Lori Lakin Hutcherson (@lakinhutcherson)

According to hellobeautiful.com, middle school students in New Jersey are about to get some much-needed education about finances thanks in part to two women determined to make sure they learn how to understand and handle money.

Financial educator Tiffany “The Budgetnista” Aliche and Assemblywoman Angela McKnight worked in tandem to draft and advocate a financial literacy bill that would give growing children a fighting chance at the future.

Financial Literacy Bill A1414 instructs the New Jersey State Board of Education to require school districts to incorporate financial literacy instruction into curriculums for enrolled students in grades 6 through 8. Middle schoolers will be presented with vital information that has the potential to change the course of their lives by preparing them to properly evaluate their finances and deal with debt as adults.

First introduced by McKnight in 2016, the bill gained co-sponsorship from Assembly Democrats Nicholas Chiaravalloti, Eliana Pintor Marin, Jamel Holley, Benjie Wimberly and Annette Quijano. A1414 was signed into law by the state’s Acting Governor (and first ever black Lieutenant Governor) Sheila Oliver this Thursday at Jersey City’s PS 34 President Barack Obama School.

“Early financial literacy should be an essential part of every school curriculum, because it’s a critical skill needed for success in adulthood,” said Aliche via press release. “Today New Jersey took a historic leap forward in helping our children secure a brighter future. Today was a manifestation of why I started The Budgetnista; to help give people the tools the need to live richer lives,” she continued.

Regarding the bill, McKnight said, “One of the most important lessons a person can learn is how to manage their money. Many young people go into adulthood knowing little about finances, and end up making decisions that cost them in the long run.”

McKnight added, “Teaching our kids early about the importance of managing their money and making sound financial decisions can prevent them from making costly mistakes and set them on the right financial path.”

Coca-Cola Executive G. Scott Uzzell Named President & CEO of Converse, Inc. by NIKE

by Ny Magee via thegrio.com

NIKE has named Florida A&M University alumni and FAMU Foundation Board member, G. Scott Uzzell, President and CEO of Converse, Inc., the company announced Friday, Dec 21.

According to The AP, Uzzell comes to Converse from The Coca-Cola Company where he most recently served as President, Venturing & Emerging Brands Group (VEB).

“Scott’s unique blend of experience driving both strategic business growth and strong brand development is well-suited to help unlock the full potential of the Converse Brand and lead its next phase of growth globally,” said Michael Spillane, President, Categories and Product, NIKE, Inc.

Uzzell began his career in sales and marketing at various companies, including Procter & Gamble, Coca-Cola and Nabisco and has held leadership positions at brands such as  McDonald’s U.S. Division. Is that’s not impressive enough he reportedly serves on the boards of State Bank and Trust Co., Fairlife LLC and Suja Juice Co.

As head of Coca-Cola’s VEB Group, Uzzell led the development portfolio of high-growth brands for The Coca-Cola Company, including Honest Tea, ZICO Coconut Water, Fairlife Milk and Suja Juice, famunews.com reports.

Uzzell holds an MBA from the University of Chicago and a bachelor’s degree in business administration from Florida A&M. He is also a member of the FAMU’s Foundation Board as well as a member of the Executive Leadership Council (ELC).

Uzzell starts work at Converse on Jan. 22 and will report directly to Michael Spillane, President, Categories and Product, NIKE, Inc. Uzzell reportedly replaces Davide Grassowho retires at the end of the year.

Source: https://thegrio.com/2018/12/22/nike-names-hbcu-alum-g-scott-uzzell-president-ceo-of-converse/

Former ABC Entertainment President Channing Dungey Joins Netflix as VP of Original Content

by Lori Lakin Hutcherson (@lakinhutcherson)

Credit: Photo by Matt Baron/REX/Shutterstock

According to Variety.com, outgoing ABC Entertainment president Channing Dungey is joining Netflix as Vice President of Original Content for the streaming service. Dungey will report to Cindy Holland, also Vice President of Original Content, and will officially start working there in February.

“We’re delighted to be adding Channing’s expertise, leadership and deep experience to Netflix, and I look forward to partnering with her as we continue to grow and evolve our global network,” said Holland. “I have been a fan of her character and approach from our early days as executives.”

Dungey is to partner with Holland in setting strategic direction as well as in overseeing a large portion of Netflix’s slate, including some of the company’s overall deals with former ABC-based producers Shonda Rhimes and Kenya Barris, “Orange Is The New Black” and “Glow” producer Jenji Kohan, “Unreal” and “Girlfriends’ Guide To Divorce” producer Marti Noxon, producer Steven DeKnight, and Barack and Michelle Obama’s Higher Ground Productions, among others.

“Channing is a creative force whose taste and talent have earned her the admiration of her peers across the industry,” said Ted Sarandos, chief content officer of Netflix. “She’s a risk taker and ground-breaker and talent love working with her. I couldn’t be happier to welcome her to Netflix.”

Prior to presiding over ABC, Dungey lead the network’s drama development team. She helped develop several popular shows in that role, including huge hits “Scandal” and “How to Get Away With Murder.” Other shows she shepherded during that time include “Quantico,” “Agents of S.H.I.E.L.D.,” “American Crime,” and “Once Upon a Time.”

“I’m drawn to the forward-thinking, risk-taking and creative culture at Netflix, and the deeply talented people there, especially Ted and Cindy, with whom I’m excited to partner on setting the strategy for original content,” said Dungey. “Given that ABC, the place I’ve called home for nearly 15 years, represents the gold standard of traditional broadcast, it feels like the perfect next step for me to join Netflix, the unparalleled leader in streaming. I’m invigorated by the challenges ahead and the opportunity to forge new relationships, and excited for the very welcome reunion with incredible talent.”

Dungey also famously canceled ABC’s revival of “Roseanne” after series star and creator Roseanne Barr tweeted that former Obama administration aide Valerie Jarrett, who is black, looked like a cross between the “muslim brotherhood & planet of the apes [sic].”

Dungey previously partnered with Pamela Post at Dexterity Pictures, a production partnership focused on making both studio and independent films, as well as developing television series. She also served as president of Material, Jorge Saralegui‘s film production company based at Warner Bros. Prior to that, she worked for five years as a Warner Bros. production executive.

Dungey, a magna cum laude graduate of  UCLA’s School of Theater, Film and Television, has been a visiting professor there and serves on the school’s executive board. She is also a founding and current board member of Step Up, a national non-profit membership organization dedicated to helping girls living in under-resourced communities to fulfill their educational potential. 

Issa Rae and Columbia Pictures Sign Multi-Picture Production Deal Promoting Diverse Screenwriters

(PHOTO BY PETER YANG)

by Lori Lakin Hutcherson (@lakinhutcherson)

According to deadline.com, creator/writer/actor Issa Rae, via her production company ColorCreative, has signed a multi-picture production deal with Columbia Pictures. ColorCreative will work primarily with and support projects from emerging, diverse screenwriters.

Globally successful, profitable films such as “Black Panther” and “Crazy Rich Asians” have demonstrated the commercial appeal of movies with leads of color and from their perspective, but so far movies like these remain the exception, not the rule. A recent study from USC  stated that only 29.3% of characters in the 100 top grossing movies of 2017 were from underrepresented racial and ethnic groups.

Selected participants, to be announced in spring 2019, will work with Rae and Columbia to develop and write features based on their original ideas.

“Issa is a force of nature, and a magnet for talented people,” said Sanford Panitch, president of Columbia Pictures, in a statement. “We couldn’t be more excited to join her in her mission to pave the way for fresh and authentic voices.”

Bryan Smiley, VP of production at Columbia Pictures, oversaw the deal and will oversee production and development with ColorCreative for the motion picture group. Sara Rastogi, VP of production for ColorCreative, will also help guide the deal for the company along with Deniese Davis, COO of ColorCreative.

“Working with Bryan Smiley and Columbia Pictures to further the mission ColorCreative set out to achieve four years ago in creating access for underrepresented writers, has been a dream come true,” Rae said in a statement. “All of the projects we are working on are fresh and promising and we can’t wait to continue the work. We hope to set a precedent and inspire the industry at large to invest in undiscovered talent, original IP, and fresh stories and perspectives.”

Meet Lena Waithe’s Black Women Who Brunch, the Next Big TV Scribes | Hollywood Reporter

splash_blackfemalewriters-thrby Rebecca Sun via hollywoodreporter.com

For The Hollywood Reporter’s largest shoot ever, members of Black Women Who Brunch, a networking group co-founded by Lena Waithe, gather to discuss how the industry can better understand black women in Hollywood: “We have to be exceptional.”

In 2014, Nkechi Okoro Carroll was an executive story editor on Bones when she met an up-and-coming scribe named Lena Waithe at a WGA Committee of Black Writers event. The two hit it off, so much so that Okoro Carroll got the future Emmy winner — whose major credit at the time was writing for the Nickelodeon series How to Rock — hired as a staff writer on her Fox procedural, making Waithe the second black woman in the room. “Aren’t you worried she’s going to take your job?” a fellow writer on staff asked Okoro Carroll.

“You should be worried she’ll take your job,” retorted Okoro Carroll, now showrunning The CW’s All American. What the duo felt was not competition but kinship: “We often felt like unicorns,” Okoro Carroll says. “When someone asked me to recommend mid-level female writers [of color] for a job, I was appalled to realize I didn’t know many names.”

Together with Erika L. Johnson, then writing for BET’s Being Mary Jane, the women decided to create a network of black female TV writers themselves. Twelve assembled for the March 2014 inaugural meeting of what came to be known as Black Women Who Brunch (BWB); today, the membership nears 80. “This group is the proof” against and antidote to “people saying, ‘We can’t find any black female writers,'” says Johnson, now a co-executive producer on NBC’s upcoming The Village.

BWB holds potlucks at Okoro Carroll’s house every few months (usually about 30 members are available at one time) to toast triumphs and troubleshoot challenges. “It’s not just a community we’re building, but a resource,” says Waithe. “We really are able to recommend eight or nine black women for certain jobs.”

In August, BWB took its first off-site trip — a weekend getaway to Palm Springs. And in November, 62 members gathered for THR‘s biggest photo shoot ever, where they revealed what they wish their colleagues knew about being a black woman in the business.

To read and see more, go to:  Meet Lena Waithe’s Black Women Who Brunch, the Next Big TV Scribes | Hollywood Reporter

Viola Davis’ JuVee Productions Signs Exclusive Feature Production Deal with Amazon Studios

by Lori Lakin Hutcherson (@lakinhutcherson)

According to Variety.com, Oscar, Emmy and Tony Award-winning actor Viola Davis and her producer husband Julius Tennon’s JuVee Productions has just signed an exclusive first-look feature production deal with Amazon Studios, putting the streaming service in business with one of the most acclaimed and honored thespians of the modern day.

JuVee Productions signed an overall deal with ABC in early 2016, for television development and production. But Davis has been working with Amazon as a producer on the upcoming movie comedy “Troupe Zero,” which co-stars Allison Janney and Jim Gaffigan. The film will be released in 2019.

“Amazon Studios is passionate about building a home for both new and established filmmakers of all backgrounds, who share the same vision in telling incredible and engaging human stories,” Jennifer Salke, head of Amazon Studios, said in a statement. “Viola and Julius Tennon’s JuVee Productions brings distinctive, fresh voices and high-quality content to our customers in both theaters and on Prime Video.”

Davis continues to headline the ABC hit “How to Get Away With Murder” and is starring in movies like this fall’s “Widows.”

Byron Allen Wins Preliminary U.S. Court Victories Against Comcast and Charter Communications Over Racial Discrimination

Entertainment Studios CEO Byron Allen (photo via thewrap.com)

by Lori Lakin Hutcherson (@lakinhutcherson)

According to PRNewswire, Byron Allen’s Entertainment Studios (ES) and the National Association of African-American Owned Media (NAAAOM) – plaintiffs in federal lawsuits filed against Comcast and Charter Communications – have announced two decisions issued by the United States Court of Appeals for the Ninth Circuit that will allow them to go to trial against two of the largest cable television carriers in the country.

In the $20 billion lawsuit against Comcast and the $10 billion suit against Charter, the carriers are accused of violating the Civil Rights Act of 1866, which prohibits racial discrimination in contracting. For years, Entertainment Studios has been requesting that Comcast and Charter carry its networks, which are distributed by Comcast and Charter’s competitors, including Verizon, DirecTV, AT&T, DISH, and many other carriers, to millions of people around the country.

Both Comcast and Charter, however, refused all of Allen’s requests for network carriage. Subsequently, Allen filed lawsuits in federal district court in Los Angeles.

In two historically significant decisions, the United States Court of Appeals for the Ninth Circuit rejected Comcast and Charter’s attempts to dismiss the cases before trial. The Court upheld Entertainment Studios’ Section 1981 claims against both Comcast and Charter; and instead ruled that both cases could proceed in the trial courts to discovery and trial.

“These two decisions against Comcast and Charter are very significant, unprecedented, and historic,” said Byron Allen, Founder/Chairman/CEO of Entertainment Studios. “The lack of true economic inclusion for African Americans will end with me, and these rulings show that I am unwavering in my commitment to achieving this long overdue goal.”

“The Court’s rulings overwhelmingly reflect the Ninth Circuit’s rejection of the Defendants’ positions and arguments,” said Mark DeVitre, President of plaintiff, NAAAOM. “I look forward to quickly moving into discovery where we expect much more evidence to surface.”

“These decisions are hugely important in terms of opening the courts to African American-owned media. The Court paved the way to our eventual success at trial by ensuring that the proper ‘mixed motive’ standard for our claims – a lower standard of proof than the ‘but for’ standard argued by Comcast and Charter – applies,” said Entertainment Studios’ attorney, Skip Miller, partner in Miller Barondess. “Additionally, the Court dismissed Charter’s and Comcast’s attempts to use the First Amendment as a shield for their alleged discrimination. I very much look forward to trying these cases. And I give Mr. Allen tremendous credit for having the will and the constitution to invest the capital and resources to pursue them relentlessly.”

According to Deadline.com, Charter and Comcast issued separate statements, expressing disappointment with the ruling. “We respectfully disagree with the Court’s decision, and are reviewing the decision and considering our options,” Comcast said in a statement.

Charter was more pointed in its response. “This lawsuit is a desperate tactic that this programmer has used before with other distributors,” Charter said in a statement to Deadline. “We are disappointed with today’s decision and will vigorously defend ourselves against these claims.”

The Los Angeles-based Entertainment Studios alleged Charter’s former senior vice president of programming, Allan Singer, refused to meet with its representatives. Singer rescheduled and postponed meetings and offered “disingenuous” explanations for refusing to carry it programming, according to court documents.

Singer said bandwidth limitations and operational demands precluded carriage of ENT’s cable networks, while reaching carriage agreements with “lesser-known, white-owned channels” such as the rural focused RFD-TV and the horror channel Chiller.

Court documents cite evidence of racial bias, including one instance in which Singer allegedly approached an African-American protest group outside Charter’s headquarters and told them “to get off welfare.” Additionally, in court documents Charter CEO Tom Rutledge is alleged to have referred to Allen as “Boy” at an industry event.

“Plaintiffs suggest that these incidents are illustrative of Charter’s institutional racism,” the Appeals Court writes, in summarizing the case’s history. “Noting also that the cable operator had historically refused to carry African American-owned channels and, prior to its merger with Time Warner Cable, had a board of directors composed only of white men.”

Entertainment Studios ascribed similar discriminatory motives on the part of Comcast, which offered carriage deals to such networks as Inspirational Network, Fit TV, Outdoor Channel and Baby First Americas while telling Allen it had no bandwidth or storage capacity for his networks.

Allen founded Entertainment Studios in 1993 and owns eight 24-hour HD television networks serving nearly 160 million subscribers: THE WEATHER CHANNEL, PETS.TV, COMEDY.TV, RECIPE.TV, CARS.TV, ES.TV, MYDESTINATION.TV, and JUSTICE CENTRAL.TV. The company also produces, distributes, and sells advertising for 41 television programs, making it one of the largest independent producers/distributors of first-run syndicated television programming for broadcast television stations.

Entertainment Studios Motion Pictures is a full-service, theatrical motion picture distribution company specializing in wide release commercial content. ESMP released 2017’s highest-grossing independent movie, the shark thriller 47 METERS DOWN, which grossed over $44.3 million. In 2018, ESMP also released the critically-acclaimed and commercially successful Western HOSTILES and the historic mystery-thriller CHAPPAQUIDDICK.

Upcoming releases include the Keanu Reeves sci-fi thriller REPLICAS, the John Krasinski/Emily Blunt-starring animated feature ANIMAL CRACKERS, and Joe Carnahan’s Mel Gibson/Naomi Watts starring action-thriller BOSS LEVEL.

Barry Jenkins’ Production Company PASTEL Signs 1st Look TV Deal with Amazon Studios

Barry Jenkins
Academy Award winner Barry Jenkins (CREDIT: ERIK PENDZICH/REX/SHUTTERSTOCK)

by Lori Lakin Hutcherson (@lakinhutcherson)

According to Variety.com, Academy Award-winning producer/writer/director Barry Jenkins (“Moonlight“) and his PASTEL production banner have landeda first-look television deal at Amazon.

Jenkins is planning to direct the entire limited series “Underground Railroad” at Amazon, based on Colson Whitehead’s Pulitzer Prize and National Book Award-winning novel from 2016. Under the deal, Jenkins will exclusively develop television series for Amazon Studios.

“Barry is clearly a master of groundbreaking, authentically emotional storytelling and we are so proud to have him share that gift with us,” said Jennifer Salke, head of Amazon Studios. “We are incredibly fortunate to have also secured his directorial vision for the entire limited series The Underground Railroad.”

“We at PASTEL are excited to continue our Amazon relationship begun on ‘Underground Railroad’ and look forward to growing that partnership on projects near and beyond,” said Jenkins.

Jenkins’ feature film debut, “Medicine for Melancholy,” was lauded as one of the best films of 2009 by The New York Times. He recently debuted his latest film, “If Beale Street Could Talk,” based on James Baldwin’s novel and starring Regina King and Brian Tyree Henry, at the 2018 Toronto International Film Festival. The U.S. release in theaters is scheduled for November 30 of this year.

JP Morgan Chase to Pay $24 Million to Settle Class Action Discrimination Lawsuit

(photo via black enterprise.com)

by Jeffrey McKinney via blackenterprise.com

JPMorgan Chase & Co. will pay $19.5 million to more than 200 current and former black financial advisers and their attorneys in a class action settlement with the bank.

The nation’s largest bank also will spend $4.5 million to launch in-house development programs over the next three years to recruit advisers and help them be successful in those positions.

The New York-based bank recently reached the $24 million settlement after six current or former black financial advisers at the bank filed a discrimination suit, basically alleging they were mistreated because of their color.

The settlement will help the banking powerhouse avoid a court battle. The advisers had been seeking class-action status, Bloomberg reported.

“This allows us to continue to focus on the diverse and inclusive environment that is critical to our success,” Tom Kelly, a JP Morgan spokesman, said. “We’ll keep work with our black advisers through recruiting, development, coaching and management training.”

The suit asserts JP Morgan sent white advisers to wealthier sites while assigning black peers to branches that were not as successful. The advisers added black employees received lower pay and had fewer licensed bankers to support them. Further, the suit claims black personnel was blocked from a program that catered to wealthier clients.

“These racial disparities result from Chase’s systemic, intentional race discrimination and from policies and practices that have an unlawful disparate impact on African Americans,” the six plaintiffs said in court papers, Bloomberg reported.

The plaintiffs included Jerome Senegal in Texas, Erika Williams in Illinois, Brent Griffin in Wisconsin, Irvin Nash in New York, Amanda Jason in Kentucky, and Kellie Farrish in California. “Our clients are proud of this outcome and acknowledge that JPMorgan had a choice to fight,” their lawyer Linda Friedman said in an email via Bloomberg. “Each case builds on the last. This is how progress is made.”

Other major banking and financial services firms have faced parallel accusations. Last year, Wells Fargo reached a $35.5 million settlement with a group of black financial advisers who claimed the firm discriminated because of their race. Five years ago, Bank of America Corp.’s Merrill Lynch resolved a race discrimination suit for $160 million.

Source: https://www.blackenterprise.com/jpmorgan-chase-discrimination-lawsuituit/

Former Time Warner CEO Richard Parsons Named Interim Chairman of CBS’ Board of Directors

Richard Parsons ( Photo by Donald Traill/Invision/ AP/REX/Shutterstock)

by Cynthia Littleton via Variety.com

Richard Parsons, former chairman and CEO of Time Warner, has been named interim chairman of the CBS board of directors.

The newly configured CBS board had its first formal meeting via teleconference on Tuesday after the shakeup that began Sept. 9 with the forced resignation of longtime CEO Leslie Moonves amid sexual misconduct allegations.

Parsons was appointed to the CBS board earlier this month along with four other new members. He’ll be tasked with leading the board at a time of great transition for CBS.

Also on Tuesday, two more long-serving CBS board members, Bruce Gordon and William Cohen, confirmed that they have resigned from the board. Their departures leave the panel at 11 members. It’s not immediately clear if their seats will be replaced.

Gordon, former head of the NAACP and a former top Verizon executive, was credited with stepping up and leading the negotiations that led to Moonves’ resignation and the settlement of the lawsuit CBS filed against its controlling shareholder, National Amusements Inc.

Source: https://variety.com/2018/biz/news/richard-parsons-interim-chairman-cbs-board-1202957772/