Press "Enter" to skip to content

Posts published in “Business/Finance”

Wall Street Preparing For Obama Victory As Romney Falls Behind In Polls

By goodblacknews on October 1, 2012

wall street barack obama
NEW YORK — As President Barack Obama widened his lead over Mitt Romney in polls this month, traders at hedge funds and investment firms began shooting emails to clients with a similar theme: It’s time to start preparing for an Obama victory.
What many in the market worry about isn’t that high earners may pay more in taxes if Obama wins. They worry that federal spending cuts and tax hikes scheduled for 2013 will kick in on Jan. 1 and start pulling the country into another recession. The higher taxes and lower spending would total $600 billion. They take effect automatically unless Congress and the White House reach a deal before then.

Three Black Former Workers Win $200,000 From AA Foundries Inc. In Racial Harassment Judgment

By goodblacknews on September 29, 2012

A San Antonio company has been ordered to pay $200,000 to three black ex-workers who say they were racially harassed by derogatory comments and a noose at the office.
The Equal Employment Opportunity Commission on Thursday announced a federal jury’s punitive damages against AA Foundries Inc. The company makes components for water wells.
The EEOC says a company superintendent called adult African-American males “boys.” A noose was found at the workplace after several employees filed harassment charges. Authorities say the superintendent said the noose was “no big deal” and the workers were “too sensitive.”  The three men later left the company. The EEOC sued last year.
AA Foundries lawyer Stephen White says the company will appeal.

Students in Florida Get Financial Training, Job Skills at New School Credit Union

By goodblacknews on September 27, 2012
Student run credit union169

NBC Miami – The Dade County Federal Credit Union opened its doors at Booker T. Washington High School Tuesday and put the students in charge.  “These students are actually manning the credit union during lunch and after school,” said Principal William Aristide. “They have the opportunity to interact with their schoolmates, parents and people in the community.”

Study Finds Black Graduates Feel More Financially Responsible Than Past Generations

By goodblacknews on September 26, 2012

Young African American college graduates say they are more responsibly committed to reaching financial goals than previous generations, according to a study released Tuesday by Northwestern Mutual Life Insurance.  Seventy percent of African Americans age 18 to 34 said they were either “disciplined” or “highly disciplined” when it came to finances, compared to just 47 percent of those 35 and older. However, 40 percent of those 55 and older reported having financially prepared to live to age 95, as opposed to just nine percent for the 18 to 34 set.

Defy Ventures Helps Ex-Criminals Develop Start-Ups

By goodblacknews on September 24, 2012

Defy Ventures helped Maliki Cottrell, who served time for carrying a gun without a permit, build a trash-hauling business.  (Victor J. Blue for The New York Times)

As a heroin dealer in Rhode Island, Jose Vasquez made $2,000 a day. He said he had a way with his customers. He took his best clients out for dinner and bought them presents on their birthdays.

“Everyone sells drugs, right?” said Mr. Vasquez, who was arrested in 2009. “So you got to find a way to differentiate yourself.”  Since his release last year, Mr. Vasquez, 26, has found that some of his skills as a drug dealer were transferable to a more legitimate pursuit; he opened a personal concierge service, Happy Vida, which runs errands for busy New York professionals.
Mr. Vasquez is a member of the inaugural class of Defy Ventures, a nonprofit organization that offers a one-year entrepreneurial training and mentorship program to people with criminal backgrounds. On Saturday, Defy held its first sales exposition, and Mr. Vasquez and nine of his classmates presented their start-ups. Guests and about 70 Defy students were asked to vote for the best sales pitch. Mr. Vasquez’s business received the most votes and won a $500 prize.

Bounce TV Celebrates 1st Birthday, Grows to 80% Of African-American Homes

By goodblacknews on September 24, 2012

 Bounce TV Celebrates First Birthday; Nation’s First-Ever Broadcast Television Network for African Americans Founded By Martin Luther King III, Ambassador Andrew Young

ATLANTA, Sept. 24, 2012 /PRNewswire/ — Bounce TV (www.bouncetv.com) — The nation’s first-ever broadcast television network designed for African-American audiences — will turn one on Sept. 26 and its first year on-the-air has been overwhelmingly successful, with accelerated growth and expansion among station groups and distribution, advertisers and viewers alike.

Report: African-American Consumer Influence Still Vital And Growing In U.S.

By goodblacknews on September 23, 2012

‪As the largest racial minority group in the United States, the influence of African-Americans on the nation’s culture is pervasive‬. With a collective buying power estimated to reach $1.1 trillion by 2015, Black consumers remain at the forefront of social trends and media consumption, according to the new African-Americans: Still Vital, Still Growing 2012 Report—the second installment to The State of the African-American Consumer Report released last year, a collaboration with Nielsen and the National Newspaper Publishers Association (NNPA).
Nielsen has identified several factors that make the African-American consumer segment so uniquely diverse. Dynamic influencing factors–such as technology, social media and online connectivity– enable the Black consumer segment to leverage its collective power and influence. This segment, with its tremendous potential, holds a wealth of opportunities for businesses and advertisers, which makes understanding the Black consumer a critical need.

Poll Finds Obama Is Erasing Romney’s Edge On Economy

By goodblacknews on September 15, 2012

20120915-090216.jpg

By JEFF ZELENY and MEGAN THEE-BRENAN

President Obama has taken away Mitt Romney’s longstanding advantage as the candidate voters say is most likely to restore the economy and create jobs, according to the latest poll by The New York Times and CBS News, which found a modest sense of optimism among Americans that White House policies are working.

Poll Finds Obama Is Erasing Romney's Edge On Economy

By goodblacknews on September 15, 2012

20120915-090216.jpg
By JEFF ZELENY and MEGAN THEE-BRENAN
President Obama has taken away Mitt Romney’s longstanding advantage as the candidate voters say is most likely to restore the economy and create jobs, according to the latest poll by The New York Times and CBS News, which found a modest sense of optimism among Americans that White House policies are working.

Gail Warrior, Founder and CEO of the Warrior Group, Leads Largest Minority Woman-Owned Construction Firm In U.S.

By goodblacknews on September 11, 2012
From Madame Noire Business: As the founder and CEO of Dallas-based Warrior Group, Gail Warrior spearheads construction projects in 30 states. Founded in 1997, the company is the largest general contractor construction firm owned by a minority woman in the US. And, it’s at the forefront of advancements in the industry, like Permanent Modular Construction (PMC), a method to build quality, sustainable buildings in less time. Committed to serving the community, Gail founded and serves as board chair of the Heart of a Warrior Foundation, which provides educational enrichment programs for underserved children. To mentor other entrepreneurs in the construction industry, Gail hosts the annual Warrior Small Business Academy.