Press "Enter" to skip to content

Posts published in “Business/Finance”

Walmart Says All Stores Will No Longer Carry Items with Confederate Flags

By goodblacknews on June 23, 2015

Walmart says in a statement released Monday it will no longer carry Confederate flag merchandise (Photo via goodblacknews.org)
Walmart says in a statement released Monday it will no longer carry Confederate flag merchandise (Photo via goodblacknews.org)

Walmart said in a statement Monday that it is removing “all items” promoting the Confederate flag for sale from its stores and its website.  The move came the same day that Gov. Nikki Haley of South Carolina called for the removal of a Confederate flag from the state Capitol grounds in Columbia. Her announcement in turn came in the wake of last week’s shooting at a historically black Charleston church that left nine dead.
Charged in the killing is Dylann Roof, 21, who is white and has been attributed with making white supremacist statements. He has been pictured with images of a Confederate flag.
“We never want to offend anyone with the products that we offer,” Walmart spokesman Brian Nick said in an emailed statement. “We have taken steps to remove all items promoting the confederate flag from our assortment — whether in our stores or on our web site.”
The statement continued, apparently answering an inquiry from CNN that cited items for sale based on Confederate flag imagery that were available on Walmart.com. A story on CNN’s website said the Walmart statement was in response to a network inquiry about sales of Confederate flag-related items.
“We have a process in place to help lead us to the right decisions when it comes to the merchandise we sell. Still, at times, items make their way into our assortment improperly — this is one of those instances,” Nick said.
Walmart is the world’s largest retailer, with nearly 11,000 stores in 28 countries.
article by Ed Brackett via usatoday.com

Akon Lighting Africa To Train Future Tech Professionals at New "Solar Academy" in Mali to Help Provide Electricity to 600 Million in Africa

By goodblacknews on May 24, 2015
Akon at the second United Nations Sustainable Energy for All Forum (SE4A) on May 21, 2015.  [Photo via akonlightingafrica.com)

As the second United Nations Sustainable Energy for All Forum (SE4A) paid tribute in its closing session to the progress generated by the Akon Lighting Africa initiative launched in February 2014, its founders Akon, Thione Niang and Samba Bathily were already looking to the future and next steps. They have just announced the creation of a “Solar Academy” to develop skills and expertise in this field in Africa. This professional training center of excellence is a first on the continent and targets future African entrepreneurs, engineers and technicians. It will open its doors this summer in Bamako, Mali and welcome any Africans wanting to help develop the use of solar power.This project is being introduced under the patronage of Solektra international, a partner of Akon Lighting Africa, in collaboration some European experts who will supply training equipment and programs.  It aims to reinforce expertise in every aspect of installing and maintaining solar-powered electric systems and micro-grids in particular, which are really taking off in rural Africa.  With its 320 days sunshine a year, the continent is perfectly suited to the development of solar power, particularly since 622 million Africans still do not have access to electricity.
“We have the sun and innovative technologies to bring electricity to homes and communities.  We now need to consolidate African expertise and that is our objective” explained Samba Bathily at the SE4All. “We are doing more than just investing in clean energy.  We are investing in human capital.  We can achieve great milestones and accelerate the African transformation process on condition that we start training a new generation of highly qualified African engineers, technicians and entrepreneurs now” he added.
With 70% of the population aged under 35, Africa is the continent with the youngest population today.  One of the biggest challenges it faces is training and creating sustainable employment.  “We expect the Africans who graduate from this center to devise new, innovative, technical solutions. With this Academy, we can capitalize on Akon Lighting Africa and go further,” Thione Niang said.  Indeed, Akon Lighting Africa adopted a sustainable business model from the outset – providing training and creating jobs enabling local populations to embrace technical solutions and become self-sufficient.  The Solar Academy will help to extend this business model and promote inclusive growth throughout Africa.
article via akonlightingafrica.com

Miami Mom Angelica Sweeting Creates Beautiful Natural Hair Doll for Her Daughters to Raise Their Self-Esteem

By goodblacknews on May 22, 2015

Angelica Doll
Frustrated by an inability to find a doll that highlighted her three daughters’ beautiful African-American features, Angelica Sweeting created one of her own.
Sweeting, 27, of Miami, Florida, created the Angelica Doll after realizing that her daughter Sophia was unhappy with her kinks and curls because of the straight-haired White dolls she played with every day, she said on a Kickstarter page started nearly a month ago to raise money to develop a line of Naturally Perfect Dolls.

“Sophia wanted long straight hair, and she even started expressing a strong dislike for her facial features and skin tone,” Sweeting says. “With the help of my daughters, we created ‘The Angelica Doll’ — the first natural hair 18-inch doll for young girls.”

As she began to develop the doll, Sweeting herself realized that she had been influenced by society’s White beauty standards for as long as she could remember.

“Here I am – 27 years old, and I am honestly just beginning to walk into who I am, my natural beauty,” she said on the fundraising page. “I want this to happen earlier, not only for my daughters but for your daughter, your niece, your sister, and for all young girls around the world. I want this to happen for all the young girls who never felt pretty enough because of their kinks, curls, wider noses or fuller lips.”

The Angelica Doll boasts the face of a beautiful brown girl, including a full nose, fuller lips, beautiful cheek bones, and brown eyes. And the hair can be washed, twisted, bantu knotted, combed, brushed, blown out, and curled just like the hair of brown girls.

“Say goodbye to spray-painted brown Barbie dolls!” Sweeting says. “I’m creating Angelica to let girls know that they are beautiful. Our girls need to see a reflection of their own unique beauty. It’s time for our young girls to have a new standard.”

As of Friday, she’s surpassed her funding goal of $25,000 by over $8,000.
article by Lynette Holloway via newsone.com
*FULL DISCLOSURE FROM GBN: After reading the story above, I immediately went to the Kickstarter page to see the doll.  My own 5 year-old daughter Phoebe lately has been grappling with the exact same issues Angelica Sweeting’s daughter is dealing with.  Phoebe and I watched the site’s video together, and when she saw the Angelica Doll – particularly her curly, versatile hair – she was so excited, she asked to have one right away.  And I bought one right away, so GBN is an official backer of what I feel is an incredibly helpful and worthwhile product.  We can’t wait for it to come and for more Naturally Perfect dolls to be created.
There are still 26 days left to pitch in or buy a doll… there is even an option to get a doll designed to look like you!  Check it out/donate/buy by clicking here.
Lori Lakin Hutcherson, GBN Founder and Editor-In-Chief (and very happy mommy)

Aesthetician Lydia Evans' Skincare Brand SWAG Essentials Flourishes After "Shark Tank" Investors Say No

By goodblacknews on May 21, 2015

"Women on 20s" Organization Pushing U.S. Treasury to Replace Andrew Jackson with Harriet Tubman on the $20

By goodblacknews on May 12, 2015
Harriet Tubman mock-up, provided by Women on 20s

A group that wants to kick Andrew Jackson off the $20 bill and replace him with a woman has, after months of collecting votes, chosen a successor: Harriet Tubman.
Tubman, an abolitionist who is remembered most for her role as a conductor in the “Underground Railroad,” was one of four finalists for the nod from a group of campaigners calling themselves “Women on 20s.” The campaign started earlier this year and has since inspired bills in the House and the Senate.
The other three finalists were former first lady and human rights activist Eleanor Roosevelt; civil rights figure Rosa Parks; and Wilma Mankiller, the first female chief of the Cherokee Nation. Now that voters participating in the campaign have chosen Tubman, Women on 20s will bring a petition with the people’s choice to the White House.
“Our paper bills are like pocket monuments to great figures in our history,” Women on 20s Executive Director Susan Ades Stone said in an e-mailed statement. “Our work won’t be done until we’re holding a Harriet $20 bill in our hands in time for the centennial of women’s suffrage in 2020.”
In all, the group said, it has collected more than 600,000 votes for its campaign.  In Tuesday’s White House press briefing, Press Secretary Josh Earnest said that Tubman was a “wonderful choice” for the bill, but stopped short of saying whether the President backs putting Tubman on the $20.
If the government agrees that it’s time to replace Andrew Jackson on the bill, its choice might not end up being Tubman. But the idea of putting a woman on America’s paper currency has attracted some notable support.
“Last week, a young girl wrote to me to ask why aren’t there any women on our currency,” President Obama said in a July speech in Kansas City, before the launch of the Women on 20s voting campaign. “And then she gave me a long list of possible women to put on our dollar bills and quarters and stuff — which I thought was a pretty good idea.”

Black Unemployment Rate Hits Seven-Year Low

By goodblacknews on May 11, 2015

JobSeekingInterviewUnemployment620480The unemployment rate for black Americans fell below 10 percent in April, for the first time since the economic downfall in 2008.
During the recession, black unemployment had peaked at 16.8 percent in March 2010, while unemployment for whites was almost half that rate. This past April, the unemployment rate for African Americans dipped into the single digits category at 9.6 percent. While the latest data shows signs of improvement, it’s clear that an employment gap still exist between races. Despite the national unemployment rate falling to 5.4 percent, blacks in states like Illinois, Michigan, California and Pennsylvania face unemployment rates above 12 percent.
[Related: U.S. Applications for Unemployment Aid Hit 15-Year Low]
While some reports view education as the reason for the employment gap, data shows that 12.4 percent of black college graduates between the ages of 22 and 27 faced unemployment in 2013 whereas the national unemployment rate for college graduates in the same age range was 5.6 percent. The median weekly paycheck for a white college graduate last year was $1,132, versus $895 for a black college graduate.
With factors such as discrimination and workplace bias coming into play when considering the road to employment for blacks, the latest unemployment numbers are not only signs of progression but also proof that more work needs to be done.
article by Courtney Connley via blackenterprise.com

Google Commits $150 million in 2015 to Diversify Tech

By goodblacknews on May 8, 2015

Google diversity doodle (via Google.com)
Google diversity doodle (via Google.com)

The Mountain View, Calif., tech giant Google is trying to get more women and minorities into technology with an ambitious $150 million plan. Google told CNNMoney half that money will go to outside organizations and communities, while the other half will be used internally to make Google more inclusive.

In a blog post this week, VP of People Operations Nancy Lee laid out the company’s strategy for 2015. It follows earlier public efforts by Google (GOOG) to increase diversity, including sending Google engineers to historically black universities and and working with Disney (DIS) to improve depictions of girls in computer science. In 2014, the company put $114 million toward diversity programs.
The company is also expanding where it looks for fresh talent by recruiting at a wider variety of colleges. The lack of diversity in tech goes deeper than just the HR department. As was highlighted in the Ellen Pao gender discrimination trial, company culture is also key to keeping and encouraging a diverse workforce. Google is offering more internal training and workshops on unconscious bias, and employees can use part of their time to work on diversity initiatives.
It’s also looking at the root of the problem, expanding computer science education for kids and pushing to get under-served communities online.
The company still has a lot of work to do. According to the diversity report it released last year, only 17% of its tech workers are female, 1% of its tech workforce is black and 2% are Hispanic. In the blog post, Lee said Google plans to release 2015 diversity numbers soon.
In March, Google executive Eric Schmidt was called out during a panel on diversity at SXSW for repeatedly interrupting Megan Smith, the chief technology officer of the U.S. and a former Googler. The audience member who pointed it out was Judith Williams, the manager of Google’s global diversity and talent programs.
It’s not the only company putting money into diversity. Apple has donated $50 million to organizations that will help more minorities and women get into tech. Intel is sinking $300 million into a program that expands STEM education to more diverse students.
article by Heather Kelly via money.cnn.com

The Forbes Five: Hip-Hop's Wealthiest Artists in 2015

By goodblacknews on May 7, 2015

Last May, shortly after word began to spread that Dr. Dre had sold his eponymous headphone line to Apple, the superproducer made a proclamation: rap’s first billionaire was about to be crowned, and he hailed from Los Angeles.
“The first billionaire in hip-hop, right here on the [expletive] West Coast,” exclaimed Dre in a video clip that went viral almost instantly. But the deal, whose value was initially reported at $3.2 billion, ended up at an even $3 billion in cash. After taxes, Dre’s 25% stake left him with a $500 million windfall–$100 million more than FORBES estimated his stake to be worth last April–and a net worth of $700 million.
Amazingly enough, Dre is not the richest man in hip-hop; that honor goes to Diddy, who clocks in at $735 million. The news may come as a surprise to many, but while Dre’s wealth derived from a single jackpot idea, Diddy’s is the product of his interests in a slew of companies, a handful of which could one day give him a Beats-esque exit.
Diddy has a deal with Diageo’s Ciroc vodka that guarantees him a split of the proceeds if the brand is ever sold, an event that would surely land him a nine-figure check. He also owns a controlling stake, or close to it, in clothing lines Sean John and Enyce, alkaline water brand Aquahydrate, new tequila DeLeon and multimedia network Revolt. Diddy founded the latter as a sort of next generation MTV with a renewed focus on music.
“Revolt got built out of the frustration Sean was having with music media being able to get his albums out there,” says Revolt chief executive Keith Clinkscales. “Sean has been aggressive in being sure that we put the power of the platform in the hands of musicians to be able to create with fans in their authentic voice.”
2015 Top 5 Hip-Hop Artists By Wealth:

  1. Diddy        $730 Million
  2. Dr. Dre      $700 Million
  3. Jay Z        $550 Million
  4. 50 Cent    $155 Million
  5. Birdman   $150 Million

Diddy isn’t the only hip-hop mogul with that aim. Jay Z, who ranks third with a fortune of $550 million, purchased and relaunched Scandinavian streaming service Tidal this year with promises of creating an artist-owned Spotify competitor set apart by exclusive content.
Though the star-studded rollout struck some as tonedeaf—prompting a flurry of rich-getting-richer criticism, and perhaps a change in strategy for Jay Z—Tidal is still early in its life as a company, and may yet prove to be an increasingly valuable asset to Jay Z and to the whole industry.
“It’s alerting people that streaming is a viable option for them to listen to music,” says Jay Frank, chief of digital marketing outfit DigMark, of Tidal. “The more that we have positive conversations on that, the more opposition we have to grow the business.”
50 Cent and Birdman round out the list of five, with fortunes of $155 million and $150 million, respectively. The latter’s total dipped slightly due to uncertainty surrounding Cash Money Records, by far his biggest asset, which has been dogged by rumors of the departure of big acts including superstar Lil Wayne.

Sam's Club CEO Rosalind Brewer Announces $13.6 Million Commitment to Women and Minority Business Owners

By goodblacknews on May 6, 2015

Sam's Club CEO Rosalind Brewer (Photo via news.walmart.com)
Sam’s Club and the Sam’s Club Giving Program recently announced the Small Business Economic Mobility Initiative, a five-year, multimillion-dollar philanthropic investment in small business growth through increased access to affordable capital and better borrower education. The first round of grants totaling $13.6 million went to eight national nonprofit organizations that provide access to capital and education to underserved U.S. small businesses including women, minorities and veterans. The announcement was made in celebration of National Small Business Week (May 4-8).
”Our founder Sam Walton started Sam’s Club to help small businesses get access to big business savings, save money and grow their businesses as a result,” Rosalind Brewer, president and CEO of Sam’s Club, said in a released statement. “Through this philanthropic investment, our founders’ legacy is carried forward by fortifying our communities’ lending resources to increase access to capital and borrower education for small business owners. In collaboration with dedicated nonprofits, we are proud to open doors for small business and strengthen the backbone of the U.S. economy.”
Through 2019, Sam’s Club’s Small Business Economic Mobility initiative aims to enable nonprofit Community Development Financial Institutions to make 5,000 loans to underserved small businesses with focus on women, minority and veteran-owned businesses with fewer than 20 employees; unlock $100 million in new capital from non-bank, community lending resources to low- and moderate-income small business owners; support 28,000 jobs in the small business community; and, reach one million underserved small business owners with education on responsible lending and better borrower practices.
Sam’s Club launched the philanthropic initiative to respond to the national struggle for small business owners in low-to-moderate income communities to attain affordable loans and navigate the lending process. By bringing together expertise, business initiatives such as the recently announced Business Lending Center and philanthropic investments, Sam’s Club and Sam’s Club Giving Program are uniquely positioned to help small business owners access affordable capital.
Across the country, small businesses and entrepreneurs report that access to capital is a major barrier to growth. According to The State of Small Business Lending report published by Harvard Business School fellow and former SBA Administrator Karen Mills, the share of small business loans provided by banks 20 years ago was about 50%, compared to only 30% in 2012. Specifically, minority owned businesses typically encounter higher borrowing costs, receive smaller loans and see their loan applications rejected more often by banks, according to a Minority Entrepreneurship Report published by UC-Berkeley and Wayne State University.
article by Carolyn M. Brown via blackenterprise.com
 

AT&T Fires President Aaron Slator for Sending Racist Texts and Images, Faces $100M Employee Discrimination Suit

By goodblacknews on April 28, 2015

Screen Shot 2015-04-28 at 10.51.01 PM

Telecom giant AT&T has fired an executive who was sued this week for allegedly using his work cell phone to keep and send racially offensive images.  Aaron Slator was fired as AT&T’s President of Content and Advertising Sales after employee Knoyme King, 50, accused him and other executives at AT&T of subjecting her to discriminatory behavior.

“There is no place for demeaning behavior within AT&T, and we regret the action was not taken earlier,” the company said in a statement confirming Slator’s dismissal.
The images at issue were found in Slator’s possession when he asked an assistant to transfer data from an old phone to a new one, the lawsuit said.
One of the images depicted an African child dancing with the racist caption “It’s Friday N—-s,” the lawsuit said.  According to the lawsuit, Slator once sent the image in a text describing it as “an oldie but a goodie.”
“Slator harbors obvious and deep-seated racial animus toward African Americans,” the lawsuit obtained by the Daily News said. “Slator’s decisions regarding hiring, firing, promotions and raises are infected by his racism.”
The suit, filed Monday in Los Angeles County Superior Court, names multiple defendants including Slator, company CEO Randall Stephenson, other executives at the company’s Los Angeles office and board member Joyce Roche.
King’s lawyer Louis (Skip) Miller said Tuesday that Slator’s termination will not affect the lawsuit moving forward.  “If anything, it’s an admission of liability. It proves we’re right, that it all happened,” Miller told The News.
He said the lawsuit is bigger than one image or one executive.
“The issues in this case are age, race and gender discrimination, and they don’t stop with Aaron Slator. These images and issues were reported a year and a half ago, and the company swept them under the rug,” Miller said.
He called King a “very nice lady” who spent 30 years building a career at AT&T and deserved better. According to the lawsuit, King, who is African American, was passed over for promotions and given unfair pay because of her race and age.  “She’s a very down to earth, earnest, hard-working and loyal woman,” Miller said of King. “And she thought she’d have a career where she could move up. She never had a chance.”
article by Nancy Dillon via nydailynews.com