Category: Business/Finance

business and finance

Oprah Winfrey, Apple Sign Multi-Year Content Partnership

by Joe Otterton via variety.com

Apple and Oprah Winfrey have a signed a multi-year content partnership. Under the deal, Winfrey and Apple will create programs that will be released as part of Apple’s original content lineup.

The deal marks one of the first such agreements struck between Apple and a content creator. This is also the latest addition to Winfrey’s media empire. The former hit talk show host formed her own cable network, OWN: The Oprah Winfrey Network, in 2011 in partnership with Discovery Communications. The channel has become one of the fastest-growing cable networks among women and has produced hit shows like “Queen Sugar,” which boasts Oscar nominee Ava DuVernay as showrunner.

Winfrey recently extended her contract with Discovery through 2025. Sources tell Variety that Apple’s deal with Winfrey does not conflict with the Discovery agreement. Winfrey remains exclusive in an on-screen capacity to OWN with limited carve-outs, such as her role as a correspondent for CBS’ “60 Minutes” and her recent acting work for HBO.

Via her Harpo Productions banner, Winfrey has also developed several long-running hit syndicated shows including “Dr. Phil,” “The Dr. Oz Show” and “Rachael Ray.” Through her Harpo Films, she has produced several Academy Award-winning features including “Selma,” which was directed by DuVernay. Winfrey also had a featured role in that film, and recently starred in other films like “Lee Daniels’ The Butler,” “A Wrinkle in Time,” and HBO’s “The Immortal Life of Henrietta Lacks.”

Winfrey also runs O, The Oprah Magazine and published the New York Times best-selling cookbook “Food, Health and Happiness” last year. As a noted philanthropist, Winfrey has contributed more than $100 million to provide education to academically gifted girls from disadvantaged backgrounds. The Oprah Winfrey Leadership Academy for Girls in South Africa celebrated its 10-year anniversary in 2017.

Even before the Oprah deal, Apple has a robust slate of originals prepared to launch. In addition to the previously mentioned morning show drama, the streamer is prepping shows like a reboot of Steven Spielberg’s “Amazing Stories,” a psychological thriller series from executive producer M. Night Shyamalan, the true crime podcast drama series “Are You Sleeping?” starring Octavia Spencer and Aaron Paul, and an Emily Dickinson series starring Hailee Steinfeld among many others.

To read more: https://variety.com/2018/tv/news/oprah-winfrey-apple-content-partnership-1202848061/

HBCU Graduates Kevin Bradford, Kim Harris and Stacey Lee Bring Craft Beer Bar “Harlem Hops” to NY

photo of Harlem Hops owners via harlemhops.com

by Maya A. Jones via theundefeated.com

Three graduates of historically black colleges and universities (HBCUs) are bringing a stylish take to a trendy craft beer bar in New York’s historic Harlem neighborhood. On June 9, owners Kevin Bradford, Kim Harris and Stacey Lee officially opened the doors of Harlem Hops to the public, making the establishment the first craft beer bar in Harlem to be 100 percent owned by African-Americans.

Harlem Hops sits nestled in the heart of Harlem at 2268 Adam Clayton Powell Jr Blvd., a bustling street alive with independently owned businesses, convenient stores, curious neighbors and schoolchildren counting down the days until summer vacation begins. Walking into the bar gives the feel of everything Harlem embodies: a cozy, close-knit community where everyone is welcome.

“We want Harlem Hops to be Cheers for a lot of people in the neighborhood,” Harris said. “We want it to be the safe haven where you can just come and learn about something different.”

The vision of Harlem Hops began for Harris, a graduate of Clark Atlanta University, nearly five years ago. Born and raised in Harlem, Harris appreciated her neighborhood, but good beer was hard to find. Her quests to drink beer she enjoyed included traveling to Brooklyn to get it.

“I thought, there’s something missing here,” Harris said. “And that’s when it came to me that we should do a beer bar in Harlem. That’s was one of the reasons I thought about it.”

At the time, Harris had been in what she described as a distressed partnership with another business. But upon meeting with restaurant consultant Jason Wallace, Harris learned there was another entrepreneur who shared a similar vision for a craft beer bar. Bradford, a graduate of Hampton University, had the same problems as Harris when it came to finding good beer. Originally from Detroit, Bradford would find himself bringing beer back from his hometown to New York.

“I like good beer, and I couldn’t really find good beer above 125th. To tell you the truth, even above 110th,” Bradford said. “I had to travel to Brooklyn. I had to travel these far distances to get beer I liked. I think back in 2011 or 2012, New York was not really the beer center of the East Coast. Now, New York is pretty much on the map for craft beer. I live in Harlem and I wanted to open a bar in my neighborhood, but the zoning was residential. I could not have a commercial space in my property. That’s when Jason Wallace introduced myself and Kim and I was like, this is it.”

The two met near the end of 2016 and agreed that they could make the partnership work. Harris also ran her ideas past Lee, a fellow graduate of Clark Atlanta University and a trusted entrepreneur Harris had worked with in the past. Lee was more than happy to hop aboard and invest in the business.

“When Stacey came on board, she kind of made us whole in terms of all the bits and pieces,” Harris said. “I have business sense, Kevin is focused on the beer and Stacey brings in the creativity and helps me keep my thoughts together. We’re all married to each other. We love each other. It’s the perfect combination.”

Before long, ideas and concepts of what Harlem Hops could and should be began to fly. The three worked feverishly together to figure out everything from color schemes to beer to food menus. For decor, the group enlisted the help of designers. Matte black and copper would serve as the theme throughout the bar, and Harlem — whether it was in words, light-up messages or a marquee hanging from the ceiling — would be fully represented.

“Luckily, we all had the same style,” Harris said. “We wanted clean lines. We wanted something simple. Something that was a combination of typical beer, but Harlem. Harlem is high-end and upscale, and that’s what we wanted to do. We wanted to bring in some industrial aspects of a beer bar, but we wanted to make it sexy for everybody.”

Continue reading “HBCU Graduates Kevin Bradford, Kim Harris and Stacey Lee Bring Craft Beer Bar “Harlem Hops” to NY”

Mellody Hobson to Become Starbucks Vice Chair

Mellody Hobson climbed another rung on the ladder of success in the Fortune 500 business world, as she solidified her role on Starbucks’ board while holding down two other top board memberships. Few African-Americans have multiple board membership on the nation’s wealthiest companies.

Hobson, a graduate of Princeton University and considered an expert on matters of personal finance, often speaking on panels and featured on television news shows.

Starbucks’ board of directors on Monday appointed Hobson as its vice chair shortly after longtime chairman Howard Schultz announced his retirement, the company said in a statement on Monday.

Hobson’s promotion to the number two position came as Starbucks has been in the throes of damage control following a high-profile episode of racial profiling when two Black men were arrested at a Philadelphia store in April because they didn’t order anything. Last Tuesday, the company closed 8,000 stores nationwide for an afternoon of anti-bias training.

Fortune 500 boards are dominated by white men, but Hobson, who has served on Starbucks’ board since 2005, has defied the odds. JP Morgan Chase & Co. also appointed her to its board  and she has been on Estee Lauder‘s board since 2004.

Still, African-Americans have made small gains in diversifying corporate boards. Black men increased their boardroom presence by 2 percent and Black women by 18.4 from 2012 to 2016, according to a multi-year study by the Alliance for Board Diversity (ABD).

The ABD report found that Blacks had the highest rate among all demographics of serving on multiple boards, which falls right in step with Hobson’s professional achievements, according to Ronald C. Parker, ABD’s chairman.

It’s an indication “that companies are going to the same individuals rather than expanding the pool of African-American candidates for board membership,” Parker told the New York Times last year.

Source: https://blackamericaweb.com/2018/06/05/mellody-hobson-will-become-starbucks-vice-chair/

Black-Owned Coffee Shops to Try Instead of Starbucks Today

Starbucks locations across the U.S. are closed today for the “unconscious bias” training mandated throughout the company in the wake of the wrongful arrests of two black men in a Philadelphia Starbucks this April. So to find (and perhaps fall in love with) a black-owned cafe in your town, click on either link below:

409 Black Coffee Houses and Cafes in the U.S.

 Black-Owned Coffee Shops to Try While Starbucks Is Closed | Teen Vogue

Harvard Business School Senior Lecturer Paula A. Price to Join Macy’s, Inc. as Chief Financial Officer

New Macy’s Chief Financial Officer Paula A. Price (photo via theshelbyreport.com)

by Lori Lakin Hutcherson (@lakinhutcherson)

According to businesswire.com, Macy’s, Inc. (NYSE:M) recently announced that Paula A. Price will be appointed the national department store’s Chief Financial Officer, effective July 9, 2018.

Price will be responsible for leading the company’s finance, accounting, investor relations and internal audit functions. She will report to Jeff Gennette, Macy’s, Inc. chairman and chief executive officer, and will be based in New York. Price will succeed Karen Hoguet, who plans to retire at the end of the 2018 fiscal year. Ms. Hoguet will remain with Macy’s, Inc. in an advisory role to support the company during a transition period until February 2, 2019.

“I’m excited to have Paula join Macy’s, Inc. at such an important time for our business. She is an accomplished financial executive with an impressive breadth and depth of retail experience and will be a great addition to the team. Having led finance in a variety of complex and dynamic retail organizations, Paula’s insights and experience will serve Macy’s, Inc. well,” said Gennette.

Price joins Macy’s, Inc. with 30 years of finance experience primarily in retail and consumer-facing businesses. She is currently a full-time senior lecturer in the accounting and management unit at Harvard Business School, a role she has held since 2014.

According to the Wall Street Journal, Price also serves as a director on the board of consulting firm Accenture PLC, where she chairs the audit committee and is a member of the compensation committee. She is a director on the boards of Western Digital Corp., Blue Cross Blue Shield of Massachusetts and the Financial Guaranty Insurance Company. Ms. Price resigned from the board of Dollar General Corp. on May 17.  Before her stint at Ahold U.S.A. as CFO, Ms. Price was controller and chief accounting officer at CVS Caremark Corp.

Barack and Michelle Obama Sign Overall Production Deal with Netflix

by Daniel Holloway via Variety.com

Netflix has secured a deal with former President Barack Obama and First Lady Michelle Obama to produce series and movies for the streaming service. The former first couple will, according to an announcement Monday from the company, potentially work on scripted and unscripted series as well as docu-series, documentary films, and features under the multi-year deal.

“One of the simple joys of our time in public service was getting to meet so many fascinating people from all walks of life, and to help them share their experiences with a wider audience,” said Barack Obama. “That’s why Michelle and I are so excited to partner with Netflix — we hope to cultivate and curate the talented, inspiring, creative voices who are able to promote greater empathy and understanding between peoples, and help them share their stories with the entire world.”

“Barack and I have always believed in the power of storytelling to inspire us, to make us think differently about the world around us, and to help us open our minds and hearts to others,” said Michelle Obama. “Netflix’s unparalleled service is a natural fit for the kinds of stories we want to share, and we look forward to starting this exciting new partnership.”

Signing the Obamas is the latest, and by far the biggest, in a string of moves by Netflix to lock up the entertainment industry’s highest-profile producers in exclusive production and development pacts. Last year, Netflix poached “Grey’s Anatomy” creator Shonda Rhimes from ABC Studios with a deal valued at more than $100 million. “Glee” creator Ryan Murphy jumped from his longtime home at 20th Century Fox Television earlier this year to also join Netflix. Murphy’s deal was reported at the time to be worth as much as $300 million. However, sources tell Variety that tally includes money that Murphy is expected to make from his current and former Fox series over the life of his Netflix contract, and that the true value of the deal is in line with that of Rhimes’.

It is unknown how much the Obamas’ Netflix agreement is worth. In March, Penguin Random House signed the couple to a joint book deal that pays them a reported $65 million for their respective memoirs.

“Barack and Michelle Obama are among the world’s most respected and highly-recognized public figures and are uniquely positioned to discover and highlight stories of people who make a difference in their communities and strive to change the world for the better,” said Netflix Chief Content Officer Ted Sarandos. “We are incredibly proud they have chosen to make Netflix the home for their formidable storytelling abilities.”

Among President Obama’s most visible public appearances since leaving office was on David Letterman’s new Netflix series, “My Next Guest Needs No Introduction.” Obama was the first guest in the former “Late Show” host’s new long-form interview program.

Word of a possible pact between the former U.S. president and first lady surfaced in March, when the New York Times first reported that the couple was in talks with the streaming service on a deal to produce several high-profile projects.

Sarandos has a close relationship with the Obamas. His wife, Nicole Avant, served as U.S. ambassador to the Bahamas in President Obama’s first term in office.

Source: http://variety.com/2018/digital/news/barack-michelle-obama-netflix-deal-1202817723/

Veteran NBC TV Executive Vernon Sanders Named Co-Head of Amazon Studios TV

by Lori Lakin Hutcherson (@lakinhutcherson)

Former NBC executive Vernon Sanders has joined Amazon Studios as co-head of television, according to Variety.com. He will oversee creative and production units for Amazon Prime Video.

Sanders will head the TV division with Albert Cheng, who was hired during a reorganization of Amazon’s entertainment division under new top executive Jennifer Salke in April.  Cheng also serves as Amazon Studios COO. “I’m thrilled to announce Vernon Sanders’ appointment to Co-Head of Television for Amazon Studios,” said Salke. “Vernon’s undeniable expertise in nurturing talent and creative material will be a huge asset to our studio. Having worked side-by-side with him for seven years at NBC Entertainment, I can speak first-hand to his talents as a leader and creative force. I know Vernon and Albert Cheng will be a formidable team as we continue to build Amazon Studios.”

At NBC Sanders held posts as executive vice president of current programming and executive vice president of comedy. He also has experience in drama-series development, having been senior VP of drama at the network and sister studio Universal Television. “I am tremendously excited to be joining Jennifer Salke, Albert Cheng and the forward-thinking team at Amazon Studios as they build an incredible destination for high-quality, compelling content,” Sanders said. “My time as a producer has reaffirmed my passion for working closely with creators to champion shows which delight and surprise our audiences. I’m grateful to my family at NBCU for their support as I jump into this new challenge.”

Among the series Sanders worked on while at NBC are “30 Rock,” “The Office,” “Friday Night Lights,” “This is Us,” “The Blacklist,” “The Good Place,” and the revival of “Will and Grace.”

In Wake of Wrongful Arrests, Starbucks Announces New Policy: No Purchase Needed to Use Restrooms or Sit in Cafes

(Photo by Mark Makela/Getty Images)

by Lori Lakin Hutcherson (@lakinhutcherson)

According to the Chicago Sun TimesStarbucks Coffee announced a new policy yesterday that allows anyone to sit in its cafes or use its restrooms, even without buying anything. The new policy comes five weeks after two black men who hadn’t bought anything were arrested at a Philadelphia Starbucks. Company executives have said its previous policies were ambiguous, leaving decisions on whether people could sit in its stores or use the restroom up to store managers. Starbucks now says it has instructed workers to consider anyone who enters its stores a customer, “regardless of whether they make a purchase.”

The company said anyone can use its cafes, patios or restrooms, but noted workers should still call the police if someone is a safety threat. “We are committed to creating a culture of warmth and belonging where everyone is welcome,” Starbucks said in a statement.

The two men who were arrested April 12 in Philadelphia were awaiting a third person for a meeting. One of them was denied use of a restroom because he hadn’t bought anything. A worker called police, and the men, Rashon Nelson and Donte Robinson, were arrested. They spent hours in jail before they were released. The incident, video of which was posted on social media, was a major embarrassment for the coffee chain.

In response to the arrests, Starbucks plans to close more than 8,000 of its U.S. stores on May 29 for racial-bias training for its employees.The men who were arrested settled with Starbucks earlier this month for an undisclosed sum and an offer of a free college education. They also reached a deal with Philadelphia for a symbolic $1 each and a promise from city officials to set up a $200,000 program for young entrepreneurs.

With Her ‘It’s About Damn Time’ Fund, Arlan Hamilton’s Backstage Capital is Bringing $36 Million in VC Funding to Black Women

Backstage Capital’s Arlan Hamilton (photo via essence.com)

by PAULA ROGO via essence.com

Arlan Hamilton, the founder and director of Backstage Capital, has announced that her firm will be investing $36 million specifically towards black women.

Hamilton announced the news while participating in the United State of Women summit this past weekend. Backstage Capital is a venture capital firm that invests specifically in underrepresented founders. Through this newly-announced initiative,  the firm will invest in black women founders $1 million at a time.

“The rumors are true. Today at [the summit] I announced that my venture capital firm has launched a $36m fund that will invest in Black women founders $1mill at a time,” she tweeted

Hamilton is part of the only 9 percent of VCs that are women, according to Forbes. Also, only 15 percent of total VC money went to female founders last year.

The numbers are even more dismal among underrepresented groups like people of color and LGBT founders. “Investing in us—people of color, LGBT people, and women—is good business, good sense,” Hamilton, who is a black queer woman, told Quartz earlier this year. “And you are foolish if you think otherwise.”

As for what she’s branded the name of this initiative, Hamilton coined a name we are all the way here for. “They’re calling it a ‘diversity fund’,” Hamilton tweeted. “I’m calling it an IT’S ABOUT DAMN TIME fund.”

And according to a Monday morning tweet, the work has already started with the new fund. “It is launched and raising,” she said. “Been in motion for months, and have some great partners. Will invest in 2-3 companies out of it before the end of the year, 5-6 in 2019.”

You can learn more about Hamilton and how she overcame all odds to create Backstage Capital in the latest season of Gimlet’s entrepreneurship podcast “Startup”.

Source: https://www.essence.com/news/arlan-hamilton-36-million-funding-black-women

Wrongfully Arrested Starbucks Patrons Rashon Nelson and Donte Robinson Settle with Philadelphia for $2 in Exchange for $200,000 Fund for Young Entrepreneurs

Image: Rashon Nelson and Donte Robinson
Rashon Nelson, left, and Donte Robinson, right, sit on their attorney’s sofa as they pose for a portrait following an interview on April 18, 2018. (Jacqueline Larma / AP file) 

by Lori Lakin Hutcherson (@lakinhutcherson)

According to nbcnews.com, Rashon Nelson, 23, and Donte Robinson, 23, the two men whose arrest at a Starbucks last month set off a wave of protests against the coffee corporation for discrimination have reached a settlement with the city of Philadelphia, the Mayor’s Office stated today.They will each be paid a symbolic $1 and release the city and employees of all claims in exchange for the creation of a $200,000 fund that, through the help of a nonprofit organization, will assist young entrepreneurs in Philadelphia. Robinson and Nelson are to serve on the committee that will establish and award the grant, which will focus on starting a pilot curriculum for public high school students to attain the skills to become business owners.

The mayor’s office stated that Nelson, Robinson and their attorneys will not receive any payment from the grant funds. The money will come from the budget of the city’s Finance Department.

“I am pleased to have resolved the potential claims against the City in this productive manner,” Mayor Jim Kenney said in a statement. “This was an incident that evoked a lot of pain in our City, pain that would’ve resurfaced over and over again in protracted litigation, which presents significant legal risks and high financial and emotional costs for everyone involved.” He added that Robinson and Nelson themselves approached the city with the grant fund idea “in an attempt to make something positive come of this.”

Starbucks CEO Kevin Johnson in a statement Thursday said a confidential financial settlement between Nelson, Robinson and Starbucks has been reached and thanked the men for their “willingness to reconcile.”

“I welcome the opportunity to begin a relationship with them to share learnings and experiences,” he said.

The coffee chain on May 29 plans to close more than 8,000 U.S. stores for an afternoon to train nearly 175,000 workers in “racial-bias education.”

Robinson, who said he’s been a Starbucks customer since he was 15, told The Associated Press on Wednesday that the agreement with the city of Philadelphia was the right decision. “We thought long and hard about it and we feel like this is the best way to see that change that we want to see,” he said. “It’s not a right-now thing that’s good for right now, but I feel like we will see the true change over time.”

The Good Things Black People Do, Give and Receive All Over The World
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