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Tag: African

  • Boost Mobile President Matt Carter: His Sprint to the Top

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    Boost Mobile President Matt Carter tells why $50 cell phone service is a deal most people won’t refuse.

    As a kid in Boston, MA, Matt Carter looked up to the local post office clerk. Today an entire company looks for his stamp of approval before any decisions are finalized. The first African American president of a major telecommunications company, Carter leads Boost Mobile, a division of Sprint Nextel. As president, he is responsible for the business’ marketing, product development and finance teams. Despite hailing from the City of Champions, leading Boost to a whopping $600 million in new revenue – in less than two years – was no easy feat. The telecommunications brand was in an oversaturated niche market and lagging in the race against its competitive set when Carter took the helm. Carter recently talked to Black Voices about how he was able to revitalize the failing brand, and shared his insights on how African Americans can compete in corporate America. Matt wants us to know why it’s still important for black business people to create a league of our own to compete in — as we win in new fields.

    What led you to Sprint?
    I started my career off in marketing. I had worked for Bristol Meyers and Coca-Cola in New York in a variety of marketing positions on a global basis. I got recruited by Sprint three years ago to run their customer management group and when the new CEO came aboard he tapped me to go run Boost Mobile, a division of Sprint. I’ve been at Boost for 18 months, really focusing on revolutionizing the wireless industry.

    What made you accept the position as President of Boost Mobile?
    It brought together all of my experience in leadership, marketing, sales and technology. In addition, at that point in my career I was ready to lead a major division of a company.

    What are some of the challenges of your position?
    Typically when you’re coming in, you’re a change agent, but it didn’t take me long to help them understand that they needed to evolve. I had to put my foot down – a skill I learned from being the oldest child in a large, loving family. I let them know that the path we were on would lead to extinction. We had to figure out how to grow this business, and decided to create a brand that would be the advocate for the consumer. We realized that at the end of the day people are looking for simplicity. Think about it. The one bill you open up with trepidation every month is your wireless bill. You think you’re paying $49, but that turns into $65. So that was the opportunity: Let’s simplify it. So, we created a flat fee system of $50.

    What experiences helped equip you for such a powerful role?
    I was the oldest of five, so it was instilled in me early on that I had to set the example for everyone. That made me realize the importance of discipline and sacrifice. When you’re the oldest you’re constantly looking out for folks and I carry that with me today; I look out for my team. I also earned a degree in communications from Northwestern and an MBA from Harvard. Plus, I have more than 20 years of experience working with companies like Bristol Meyers and Coca-Cola.

    What pivotal moment led you to enter the business world?
    My first student loan bill. I was like, “how am I going to pay for this?” I went to Northwestern because I wanted to be a director. When I graduated I did what most kids do: I went to LA and became a waiter. My father couldn’t fathom how I could go to school then wait tables. I felt bad and eventually came home and got a job working as a supervisor at a factory where my mother was employed. I got a good taste of business there. I enjoyed motivating people and I liked competing. I gravitated towards marketing because it coupled my practical and creative sides.

    Finance Blogger S. Tia Brown Interviews Boost Mobile President Matt Carter

    When did your dreams change from wanting to be a mail man, or a job similar to your role models growing up?
    When I got to Harvard I realized that I was holding my own. Along the way you start to see that the privileged students are not any brighter or any better, so your confidence level begins to grow and you start thinking bigger. Going to Harvard raised my expectations about the possibilities of what I could do. I thought, ‘I could be the president of the United States.’ That was liberating.

    Fierce Wireless magazine named you No. 25 on their list of Most Powerful People in Wireless. You are also the only African American. How does that feel?
    I’m very humbled and appreciative of the recognition, but it’s reflective of what the team has done. In addition, I’ve gone through a lot of ups and downs in my career. You’re going to find people who still view your race as a stigma. People will do things to you because you’re not part of the “club.” You have to have the internal fortitude to maintain your composure when you’re faced with things meant to break you.

    What’s next for Boost Mobile?
    We’re the fastest growing wireless brand; we’ve acquired 1.7 million new customers in the last quarter. People are responding because there’s finally a product out there making things simple — this is not about economics or credit worthiness. We believe that we need to continue to broaden the appeal of our device portfolio. But I can’t reveal the new products that are on the radar.

    Your team has taken a product initially created for a niche market and made it mainstream. Did you have to create a different marketing strategy to appeal to the masses?
    Boost has a deep legacy in the African American community; we don’t want to abandon that. We want to build on it. Everyone, regardless of your culture, race or sex, is looking for value. So if you can get a $50 plan with unlimited, voice, web and text nationwide [you’ll want it]. It has nothing to do with skin color — only the color green.

    A lot of marketing campaigns geared towards African Americans perpetuate stereotypes. How do you feel about the use of the typical images of blacks in advertising campaigns?
    I’m always bothered by commercials that have people dressed up in the church robes, singing and dancing, like we’re still out of some minstrel show. You certainly have to be sure that there are messages out there that resonate with your target audience, but you’ve got to figure out how to reflect them smartly. You don’t want to turn people away. Our goal was to try to figure out how we could be relevant to a sort of rainbow coalition of clients.

    Speaking of marketing, it seems like you’ve been able to be stand out strongly amongst your peers, a great example of self-marketing. Why do you think Sprint recruited you?
    You’ve got to be known for doing something. I always look at people’s resumes and they are all over the place. What is your brand? What do you stand for? Mine is deeply rooted in marketing, so I am perceived to be a highly accomplished marketer who also demonstrates the ability to work across a variety of industries. I’ve worked in pharmaceuticals, telecommunications and financial services. My advice is to really be good at something and demonstrate that across a variety of industries so you leave yourself open for other opportunities.

    Unemployment is soaring and people are looking for career opportunities in new markets. What is your suggestion for anyone interested in the telecommunications industry?
    I don’t see a lot of African American engineers. I think we need more people with technical skills; that’s where the high-paying jobs are, in technical development. The engineers are the new artists and we’re not there.

    You have a great job and a successful career, but you’re still working on entrepreneurial ventures, like helping to create Ameritales (a historical cartoon series). Why divide your time?
    You can’t expect that you’re going to go work at a company and be there until you retire. We have to be smarter as a group around creating opportunities. African Americans are very creative but we haven’t parlayed it into true economic growth. I don’t know if it’s fear or a lack of mentoring.

    What tips do you have for those looking to start their own businesses?
    First of all, you must be willing to take a chance. Then, there are three key elements to being a successful entrepreneur:

    1. Preparation: People may want to start a company, but don’t know a thing about running one, like how to read a balance sheet or income statement. You should use your time while working for others to gather as many skills as possible.
    2. Network: Build a network of people that you will eventually need.
    3. Talent: Use all your talents to go out and create something. And don’t limit yourself to things like soul food restaurants and cleaning businesses. We now have a generation of African Americans with more exposure and training. We can create the next Google.

    What’s next for you?
    I plan to continue to grow, learn and see what the future holds. I’m under no illusion about life in the corporate world. I enjoy what I do today but I’m well prepared for many things.

    A trained life coach, S. Tia Brown has spent the last 10 years following her passion for journalism as an editor, writer and TV correspondent. Brown has worked for CNN, E!, MSNBC, the NY Daily News, Essence and Black Enterprise. Most recently she served as Senior Editor for In Touch Weekly magazine. Check out her advice column ‘Do Better, Be Better’ at www.tiabrown.com.

     

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  • Obama’s Fed Chairman Makes Racially Ignorant Remarks: Dr Boyce Analyzes

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    I’ve always had mixed feelings about Federal Reserve Chairman Ben Bernanke. I feel that he is better than the previous chairman, Alan Greenspan, but the Fed Chairmanship (like the presidency) is almost never given to the right man. Just the fact that it is almost always given to a man is problematic enough, and the truth is that only white men need apply for the job.

    Well, when you are limited in your option pool for the top job, bad leadership and flat out ignorance can sometimes be the result. While Fed Chairman Bernanke might know some nuts and bolts about economics, he appears to be shockingly misinformed about economic disparities between blacks and whites. His embarrassing and highly inappropriate statements at Morehouse College serve as a significant case in point.

    In a recent interview at Morehouse, the Fed Chairman was asked what he felt to be the reason for the wealth gap between blacks and whites. In response, Bernanke said that the gap was due to a lack of “financial literacy” and “financial education” on the part of African Americans. That’s all he mentioned.

    What? Sorry Ben, but did you ever hear of this little thing called “slavery”? What about this other thing called “Jim Crow laws,” which made it nearly impossible for African Americans to pass wealth onto their children? Do you truly believe that whites have the bulk of American wealth because they were simply harder working and more intelligent in their wealth building strategies? Do you know how silly you sound?

    According to the 2007 Survey of Consumer Finances, the median household wealth of white Americans is 10 times greater than that for African-Americans. And in spite of what the Fed Chairman might believe, it is not due to the fact that black people are financially ignorant. Rather, it is due to leaders such as Bernanke who refuse to acknowledge how 400 years of racially-biased wealth distribution can impact structural and financial inequality.

    The other point that Mr. Bernanke fails to mention is that white American saving and investing habits are incredibly problematic as well. The recent financial crisis was due to the fact that the American savings rate had become negative for the first time since the Great Depression. Additionally, Americans (not just black people Ben) were borrowing money for homes they could not afford and not preparing for retirement. So, the idea that Chairman Bernanke would sum up the black/white wealth gap as “White people smart….black people illiterate” is a shocking disappointment and a glaring reminder of the fact that our economic captains in the Obama Administration have almost no understanding or respect for the unique economic challenges of the African American community.

    I won’t even get into Obama’s appointment of Lawrence Summers as Treasury Secretary, given that Summers disrespected Dr. Cornel West, one of the most significant black scholars in American history. During a spat when Summers was president of Harvard, he criticized Dr. West’s work as not representing “appropriate” scholarship. Translation: you are doing something that white scholars don’t understand, which thus implies that you must be inferior – I get it all the time here at Syracuse, a school that hasn’t tenured a black man in Finance in their entire 140-year history – perhaps we lazy black folks are just not good enough. Professor Summers is also the one who implied that women might have a natural deficiency in their ability to understand mathematics. The idea that Obama supports individuals who continue to embrace mindsets reflective of white male supremacy should be problematic to us all. The financial team within his administration needs a makeover, and their “expertise” and qualifications should be questioned by the American people.

    A note to Chairman Bernanke: The present around us has been created by a set of tasks that were performed in the past. If you are only able to see wealth disparities through a lens created in the year 2009, one that is blurred by your own biases as a white male in an elitist profession, you are missing 99% of the picture. To cite African American ignorance as the sole driver of wealth gaps in America is a reminder that our leadership still thinks of black people as second class citizens. Rather than presuming cultural superiority on the part of whites, why not engage in creative and intelligent policy analysis that might actually fix the problem that America has created. It was not the flaws of black America which created structural inequality; it was poor decision-making on the part of the very institution with which men like Bernanke, Summers and Obama are employed. It’s time for some personal responsibility.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of the forthcoming book, “Black American Money.” To have Dr Boyce commentary delivered directly to your email, please click here.

     

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  • How to Benefit from a Business Incubator

    Incubators are mentoring centers that provide coaching, networking opportunities, and even affordable office space, says Robert Jackson, who operates a business incubator as CEO of the African American Chamber of Commerce of Central Pennsylvania (AACCCP) in Harrisburg, Pennsylvania.

  • Dr Boyce and Rev. Al Sharpton Discuss Couples, Money and Michael Vick

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    This week on “Keeping it Real with Rev. Al Sharpton,” the good reverend and I discussed some issues that many people might find interesting. First, there was the conversation about love and money. Most of us know that money matters in life. We tend to think about money every day and a good way to end up in the dumps is to have someone take your money away from you. Money is also a weapon of mass destruction in many relationships, especially in the African American community. And just for the record, Rev. Al stands firm that there is nothing to his rumored relationship with Lisa Raye. If only I were privileged enough to have people think that I had a thing for Lisa Raye….now THAT would make my day!
    Our second topic of discussion was Michael Vick. I personally believe that in spite of media reports to the contrary, Nike is still waiting in the wings to sign Vick to a real deal, because Vick has always been the real deal among NFL athletes. The great challenge for Vick is that he has to start from scratch to rebuild his respectability as a top notch quarterback. He also has to let that ‘dog fighting’ issue get behind him.

    I recently did an online webchat about Michael Vick, which explores the similarities between Michael Vick and Jack Johnson, the first African American heavyweight champion of the world. You’ll notice that the way America has vilified black male athletes is nothing new to our country – there is a long history behind it.

    The conversation with Rev. Al is below. Enjoy!


    Dr. Boyce Watkins is a Finance Professor at Syracuse University and a leading African American Speaker. He is also the author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered directly to your email, please click here. To follow Dr Boyce on Twitter, please click here.

     

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  • High School Drop Out? Most Likely Will Do Time!

    Posted by: The Connector

    A new report chronicling the whereabouts of past high school dropouts shows that all dropouts, and particularly African-Americans, are far more likely to wind up incarcerated or unemployed than those with a high school diploma. 

    Compiled by researchers at Northeastern University, the report shows that high school dropouts are roughly six times more likely to become incarcerated than high school graduates. But the more startling statistic was that between 2006 and 2007 around 23 percent of 16- to 24-year-old African American male high school dropouts were incarcerated or otherwise institutionalized at some point, compared with 6.3 percent of all dropouts.

    TO READ MORE, CLICK ON ORIGINAL STORY

     

  • Dr. Boyce and Keith Murphy Discuss Economic Empowerment

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    In this interview below with the great radio legend Keith Murphy, we discuss the power of high expectations, education and economic empowerment when it comes to dictating your own destiny.

    Keith Murphy is the host of “The Urban Journal” on Sirius/XM Satellite. He is a good brother and one of the few people who supported me when nobody knew who in the heck I was. I will always respect him for that.

    I told Keith that much of the empowerment process in the African American community comes down to education and economics. If we really push our kids to be their best educationally, that will open a million doors for achievement. It’s not difficult to be a good student: you only have to treat it like a part-time job. If a kid can work 8 hours a day in McDonald’s, that same person can sit and study for 4 hours a day. Any college student who studies 4 hours per day, every day, is going to earn As and Bs in most of his/her classes. It’s really that simple. In fact, most universities give you a “B” in the class just for doing what you’re supposed to do. College is not nearly as difficult as some would like for you to believe.

    When it comes to economics, it’s all about a couple of things: learning to save and invest and understanding the foundations of entrepreneurship. My belief, for example, is that every ex-convict who can’t find a job should study entrepreneurship so they can find ways to make money without earning dump wages from someone who doesn’t respect them. If the world rejects you, you have to find a way to still get what you want. It’s possible if you believe.

    The interview is below if you’d like to listen. Enjoy!

    Dr. Boyce Watkins is a Finance Professor at Syracuse University, a leading African American speaker and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Dr. Boyce Money: Lost Your Job? Senators Might Help You

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    The Senate has been mingling with the idea of extending jobless benefits for those who’ve lost their jobs. The problem is that the politicians can’t quite make up their minds. A bill was passed last month in the House of Representatives, but the Senate has still been fighting over the details.

    The black community is in dire need of help from legislators, as our community has been hit the hardest by recent trends in unemployment.
    While overall unemployment is at a staggering 9.8%, African American unemployment is 15.4%. Black male unemployment is as high as 30 – 40% in some urban areas. Jobs are needed and benefits are needed even more. According to the Center for American Progress, the poverty rate for African American children is over 34.7%, while only 10.6% for white children. Economically speaking, black people are usually the state of economic recession.

    Typically, unemployed workers are eligible for up to 26 weeks of benefits, but that number has been extended twice by Congress. Now, workers are eligible for as many as 79 weeks of benefits. The current compromise proposed by Senator Max Baucus would give an extra 13 weeks of benefits in states hit hardest by unemployment, while those suffering less would get an extra 4 weeks. This approach has been disputed by some members of the Senate, who feel that all Americans should get the same extensions, regardless of where they live.

    The unemployment rate is expected to rise above 10%. Additionally, more than 1/3 of all unemployed Americans have been out of work for more than six months.

    One ray of hope for an economic recovery is the stock market. Anyone with a little extra money to invest was able to earn a 50% return over the past 6 months, which is truly phenomenal. The other bright side of the market rally is that the stock market is a leading indicator of economic growth: that means that when the market improves, the economy is expected to improve. So, while recent unemployment numbers imply that a recovery is going to be slow, the truth is that all is not lost.

    Keep your hope alive. Things are going to get better.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Black Lawmakers Adjusting to Political Realities

    The euphoria over President Barack Obama’s inauguration is giving way to political reality for African-American lawmakers as Democrats grapple with stubborn challenges facing a long-awaited domestic agenda.

  • Dr. Boyce Money: Don’t Throw Tavis Smiley Under the Wells Fargo Bus

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    When I read about the predatory lending allegations against Tavis Smiley and Wells Fargo, I wasn’t surprised. Not because I feel that Tavis is some kind of crook, but because economic downturns are usually when everyone’s dirty laundry gets aired out. The high flying 2000s were a decade of extravagance, overspending, easy money and troubled relationships. The party was bound to end. Smiley’s party has ended with Wells Fargo, as the company has been accused of using Tavis Smiley and financial expert Kelvin Boston to convince African Americans to sign on to loans that turned out to be predatory. Neither Boston nor Smiley is willing to disclose the amount they were paid for the service, but I’m sure it wasn’t chump change.

    I’ve been open and honest in my critiques of Tavis Smiley in the past, but I give credit where it’s due. I’ve always felt that Tavis Smiley is a man who works out of a sincere respect and appreciation for the black community. He is not out to hoodwink, swindle or hurt us, at least not deliberately. At worst, Smiley is guilty of being caught in a situation that he may not have fully understood.

    Although I agree with the black community’s decision to hold Tavis Smiley accountable for his actions, I want us to be cautious of going overboard in our judgments. Here are 5 things I want to say about Tavis Smiley:

    1) Don’t throw Tavis under the bus. African Americans can be tough on our public figures. After Smiley’s repeated calls for accountability against President Obama, many failed to appreciate the value of scrutinizing our elected officials. While Tavis’ close relationship with Hillary Clinton undermined the credibility of his challenges to Obama, the truth is that accountability is very important when dealing with any politician. One must respect Tavis for having the willingness to say things that are unpopular, which even Obama himself doesn’t always have the courage to do.

    2) Beware of corporate sponsors bearing gifts. One of the greatest barriers to social progress for African Americans has been our inability to properly assess those who sponsor our activities. Any corporation that comes along with a signed check can usually find a place at our table. Would you want your teenage daughter taking money from any boy who offered it to her? Probably not, because you know that the the boy might be expecting “repayment” at the end of the night. The same is true for corporate sponsors, who are paying you to present the kind of image they want the public to see.

    3) The revolution will NOT be brought to you by Walmart. Rarely, if ever, can true black activism be achieved via funding provided by companies run by the descendants of our historical oppressors. This is due to the inherent conflict of interest between capitalist entities and the plight of the poor. African Americans are disproportionately poor and working class. Therefore, unfettered capitalism is designed to destroy us (although compassionate capitalism can fuel economic growth). So, while one can certainly understand why Smiley would be happy to take corporate money for his State of the Black Union event every year, the truth of the matter is that the honest activism of such a function can only go so far.

    4) A critical line must be drawn between financing and influence. There’s a reason that the New York times doesn’t let it’s advertisers decide which stories are going to appear on the front page. This is because the natural power that comes with financial support must be tempered by a commitment to conscientious objectives. If Wells Fargo needs to be called out for its predatory lending practices, that is not going to happen with the Wells Fargo logo placed behind the speaker’s head. There should be independent oversight of all funding sources for The State of the Black Union, The State of Black America, as well as events held by the NAACP and Urban League every year. Influence is bought behind the scenes all the time, and good black leadership should be as transparent as possible.

    5) We should keep supporting Tavis. Tavis Smiley’s annual event, The State of the Black Union, is one of the most celebrated in the black community. With a renewed commitment to conscientious corporate sponsorship, The State of the Black Union can regain its status as a respected and appreciated forum for black education. But in order for this to happen, we must make sure we know where the money is coming from, where it is going and what strings are attached. Without properly vetting the sources of your financial support, you are setting yourself up for corruption.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University, a leading African American speaker and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Black Dating – The Online Experience

    African American online dating is fast gaining headway as far as online dating is concerned. As a matter of fact there are numerous African American dating websites nowadays.

    African American dating websites is one example of specific dating services. These websites help the black people to find their prospective partners in life. Like any other online dating sites, one has to register to enjoy the services and create one’s profile.

    There are African American dating websites that come for free, while others will charge a minimal fee to cover for features that are loaded into the websites. Afro American websites boast of an easy access and instant communication with prospects owing to the website infrastructure such as chat rooms and instant messaging.

    When you visit an African American dating website, you will find many interesting features. One thing websites of this nature give high importance to is safety. They are committed to provide users with safety and security as much as they put high premium to privacy.

    There are many African American dating websites that you can visit and explore as nearly all African Americans accept interracial or inter-color dating.

    To choose from the numerous websites, one can consider the following points:

    -Easy accessibility to communication

    -High security and privacy

    -Higher standards in ensuring that profiles meet the criteria

    -Registration and viewing of profile should be mandatory

    -Combination of affordability and quality when it comes to cost

    Further, in an African American dating website, members are carefully screened and highly encouraged to report inappropriate behavior, if any. The websites also regularly provide online tips and guide to dating. They take the education of their members on the field of online dating seriously. They aim to educate their members to make prudent decisions in using the websites.

    African American dating websites are probably more exciting than any other dating websites. Online dating is demonstrating to go beyond just being a trend. African American has a distinct culture that brings them closer together. They are also more open to interracial dating.

    Almost all, if not all, African American dating websites have photo galleries so one knows what to expect in a prospective partner. The websites also guarantee that you can meet black people internationally.

    There are various testimonials on how exciting and effective these African American dating websites can be, as there are many success stories. Prior to joining, it will help if you carefully go through the testimonies to see whether or not the
    website is for you.

    There are free and paid African American dating websites. If you are not yet sure if you really are into online dating then you may want to explore the free services. Otherwise, you will be able to enjoy the many benefits of paid African American dating services.

    At the end of the day, it will be your preference that will matter. You can go through as many websites as possible to ensure that when you join a particular African American dating website, you get your money’s worth and more importantly, you get to meet your future lifetime partner. This article was about great expectations with dating and about african american online dating service.