Black Man Black Woman

Tag: Don

  • The 10 Biggest Myths About Starting An Internet Business

    online-moneyYou have heard from people saying Internet Business is a waste of time, you will not make any money, there is no real money to be made online, it will never work and so many others negative words coming from people who don’t really understand in this Internet Business industry.

    The thing is, it does work. Why some people make a fortune and some don’t even make money at all? Simply because the people who make thousands or millions of cash knew all the lies in this business and they will not trust these lies.

    So what is this big internet lies? Below here are the 10 big internet lies that you should know:

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  • NBA Star Antoine Walker is Broke: Five Lessons We can Learn

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    When I went to The University of Kentucky with Antoine Walker during the 1990s, we all knew he was going to be a star. He was headed for great things and would represent his family well. No one would have guessed that he would one day become the poster child for what NOT to do when you earn $110 million dollars.

    Antoine is busted, or as my friends would say, “broker than the 10 commandments.” He was recently arrested for not paying $800,000 in gambling debts he owed to a Vegas casino, and that’s when the financial roaches started coming out of the closet.

    In the midst of Antoine’s situation, we can all learn lessons. I thought I’d lay out a few for us to consider:

    1) Watch who you allow to handle your dough. It might sound good to say that you have an accountant, but the truth is that you are always vulnerable when someone is doing things with your money that you do not understand. Additionally, allowing friends and relatives to have access to your financial accounts is a very bad idea. While I have major issues with Bill Cosby, I was always impressed by the fact that he takes care of his own money. Also, one of the sad realities of NBA athletes is that most of them were not properly educated during college, given wimpy little majors that didn’t interfere with their athletics schedules, so some of them are unprepared to protect the wealth they work so hard to earn. Get an education- you’re going to need it.

    2) Don’t judge Antoine Walker harshly, this can happen to anyone. Going broke or going to jail is not just something that happens to bad or irresponsible people. The same is true for a gambling addiction. While we are tempted to attack Antoine Walker for his situation, the truth of the matter is that gambling problems impact hundreds of thousands of people every year: Campuses are being overrun by TV poker challenges and other seemingly harmless, yet financially devastating temptations. If you don’t yet have a gambling problem, be careful not to start one. That’s an easy way to go broke.

    3) Stay away from the vices: Drugs, gambling or other costly addictions have led to the financial downfall of many people. In addition to gambling, other vices such as drugs or alcohol can accelerate your path to the poor house. What’s worse is that the temptation to engage in these activities is greater when you have more money to burn. NBA and NFL stars are still quite young, and the idea of giving a 22-year old $10 million dollars a year is a scary thing. Even I would have made terrible mistakes if I’d received that much money so early in life. If you are in a relationship with someone who regularly engages in any of these bad habits, you might want to reconsider that relationship. It can cause you a great deal of trouble later on down the road.

    4) Show your love, but put a cap on it: Antoine Walker has shown himself to be a generous man, giving to children and taking care of relatives. The problem is that it’s difficult for anyone to be a one-man welfare machine. I only call it welfare when someone is asking for something for nothing. I find that it is more productive to ask for something before you give something away; put the relative to work on productive activities that will help save you money. It will make both of you feel better in the end. Also, budget your charity to ensure that you don’t go overboard in your giving. Typically, those who are asking you for money today won’t be anywhere around when you are having financial problems.

    5) Watch how hard you bling: While “blinging” and “balling” might be incredibly tempting, you should limit the number of status symbols you acquire in order to show your wealth. Antoine Walker has always loved to “do it big,” renting limos for every occasion and not wearing the same suit twice during the playoffs. While he gets a lot of points in style, the truth is that such financial extravagance is not only financially draining, it also makes you a big target. Years ago, when Antoine was robbed of several thousand dollars during a trip to Chicago (and again later at his home in Miami), we can probably assume that the robbers knew they were coming after a wealthy victim.

    I am not here to attack Antoine Walker. Instead, my goal is to make his challenges into a true teachable moment. The old model of the black athlete getting rich, staying uneducated, balling out of control and going broke has absolutely got to change. We must aim for something 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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  • Antoine Walker is Broke: Five Lessons We can Learn

    Filed under: ,

    When I went to The University of Kentucky with Antoine Walker during the 1990s, we all knew he was going to be a star. He was headed for great things and would represent his family well. No one would have guessed that he would one day become the poster child for what NOT to do when you earn $110 million dollars.

    Antoine is busted, or as my friends would say, “broker than the 10 commandments.” He was recently arrested for not paying $800,000 in gambling debts he owed to a Vegas casino, and that’s when the financial roaches started coming out of the closet.

    In the midst of Antoine’s situation, we can all learn lessons. I thought I’d lay out a few for us to consider:

    1) Watch who you allow to handle your dough. It might sound good to say that you have an accountant, but the truth is that you are always vulnerable when someone is doing things with your money that you do not understand. Additionally, allowing friends and relatives to have access to your financial accounts is a very bad idea. While I have major issues with Bill Cosby, I was always impressed by the fact that he takes care of his own money. Also, one of the sad realities of NBA athletes is that most of them were not properly educated during college, given wimpy little majors that didn’t interfere with their athletics schedules, so some of them are unprepared to protect the wealth they work so hard to earn. Get an education- you’re going to need it.

    2) Don’t judge Antoine Walker harshly, this can happen to anyone. Going broke or going to jail is not just something that happens to bad or irresponsible people. The same is true for a gambling addiction. While we are tempted to attack Antoine Walker for his situation, the truth of the matter is that gambling problems impact hundreds of thousands of people every year: Campuses are being overrun by TV poker challenges and other seemingly harmless, yet financially devastating temptations. If you don’t yet have a gambling problem, be careful not to start one. That’s an easy way to go broke.

    3) Stay away from the vices: Drugs, gambling or other costly addictions have led to the financial downfall of many people. In addition to gambling, other vices such as drugs or alcohol can accelerate your path to the poor house. What’s worse is that the temptation to engage in these activities is greater when you have more money to burn. NBA and NFL stars are still quite young, and the idea of giving a 22-year old $10 million dollars a year is a scary thing. Even I would have made terrible mistakes if I’d received that much money so early in life. If you are in a relationship with someone who regularly engages in any of these bad habits, you might want to reconsider that relationship. It can cause you a great deal of trouble later on down the road.

    4) Show your love, but put a cap on it: Antoine Walker has shown himself to be a generous man, giving to children and taking care of relatives. The problem is that it’s difficult for anyone to be a one-man welfare machine. I only call it welfare when someone is asking for something for nothing. I find that it is more productive to ask for something before you give something away; put the relative to work on productive activities that will help save you money. It will make both of you feel better in the end. Also, budget your charity to ensure that you don’t go overboard in your giving. Typically, those who are asking you for money today won’t be anywhere around when you are having financial problems.

    5) Watch how hard you bling: While “blinging” and “balling” might be incredibly tempting, you should limit the number of status symbols you acquire in order to show your wealth. Antoine Walker has always loved to “do it big,” renting limos for every occasion and not wearing the same suit twice during the playoffs. While he gets a lot of points in style, the truth is that such financial extravagance is not only financially draining, it also makes you a big target. Years ago, when Antoine was robbed of several thousand dollars during a trip to Chicago (and again later at his home in Miami), we can probably assume that the robbers knew they were coming after a wealthy victim.

    I am not here to attack Antoine Walker. Instead, my goal is to make his challenges into a true teachable moment. The old model of the black athlete getting rich, staying uneducated, balling out of control and going broke has absolutely got to change. We must aim for something 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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  • House Health Bill Unacceptable to Many in Senate

    Don’t look for the Senate to quickly follow the House on health care overhaul. A government health insurance plan included in the House bill is unacceptable to a few Democratic moderates who hold the balance of power in the Senate. They’re locked in a battle with liberals, with the fate of President Barack Obama’s signature issue at stake.

  • Jay Z vs. Beanie Sigel: It’s Nothing but Business as Usual

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    Consider it a strange dream, but I had some thoughts about the Jay-Z beef with the rapper Beanie Sigel. No, I’m not here to talk about keeping street cred. Yeah, yeah, yeah. Half of the artists in the hip hop industry are not nearly as hard or as real as they claim to be. They’re too smart for that. The guys who are really as hard as most rappers claim to be are either in a jail cell or a casket. That’s the truth.

    What got my attention was when Charlamagne Tha God was fired from 100.3, “The Beat” in Philadelphia. I’ve known Charlamagne for years from our work on The Wendy Williams Show, so this made me a little upset. What was even sadder is the allegation that Jay Z may have played a role in getting Charlamagne fired, in large part because Charlamagne conducted an interview with Jay-Z’s new rival, Beanie Sigel. This incident represents more than the standard thuggery that some might see on the surface. Instead, it brings forth a plethora of issues that relate to business, entertainment, money and corporate power. Here are some quick thoughts:

    1) Getting Charlamagne tha God Fired? An allegedly weak move, but a lesson on corporate influence. The smartest artist I’ve ever seen in hip hop is 50 Cent. He writes songs about going to the club, but he doesn’t go to clubs. He gets you to bob your head and pop bottles of Vodka and Petrone, but he doesn’t drink himself. Effectively, he knows the power of getting others addicted, while keeping himself from being vulnerable to the very addictions he is using to control you (remember Ice Cube’s famous line, “Don’t get high on your own supply”?). Jay-Z is similar, as he has rejected the ridiculous, “bling yourself to death and then get shot or go to jail” mindset that many rappers seem to possess. Instead, he preoccupies himself with being a businessman, which means he has ultimate control over his fate.

    So, in spite of the fact that I am irritated at the very weak and unethical move allegedly committed by Jay Z, the teachable moment here is that the corporate monsters are the ones who control hip hop or any other art form for that matter. Most rappers only work to get a place on the plantation, not to actually own one.

    2) The Jay Z beef with Beanie Sigel has been played out thousands of times throughout human history. Ever since the beginning of entertainment, there has always been a natural beef between the sources of capital and the entertainers themselves. Artists are natural risk takers and many of them don’t spend two seconds thinking about the business models that finance their activities. Many artists put their energy into their craft rather than engaging in the boring task of understanding accounting, finance, marketing and distribution. The corporate captains, on the other hand, are not natural risk takers and they are the ones who decide if the show is going to even take place. Given that the corporate chiefs are making the financial choices, and the artists themselves want to push their work out at any cost, there is typically going to be a conflict of interest. The truth, however, is that when these conflicts occur, the artist almost always loses the fight. Those who provide the capital control much of the process.

    3) You’ve got to take good care of the people who work for you. Some have criticized Jigga and Diddy for not taking good care of their artists. I am not sure if this is true or not, but I do know that if you are tempted by corporate greed, you can find yourself enslaving people rather than empowering them. The greatest temptation in hip hop is to take advantage of another person’s obsessive commitment to fulfilling their personal dream. Thousands of artists get signed to Draconian contracts that are skewed heavily in favor of the manager rather than the artist. The problem, however, is that when you design business models to exploit other people, you may find that it comes back to hurt you later on down the road.

    4) There is a financial value of manufactured beef. This might surprise you, but a lot of so-called “beefs” in hip hop are actually branding mechanisms designed to get media attention to sell records. Ever notice how there are a lot of artists who want to stab and shoot each other one minute and then end up making records together the next? Much of this is due to the fact that the lifeblood of any artist is media access. No media means you don’t eat. Given that artists are effectively hired slaves for the record labels who can be used up and dropped at any moment, they are willing to engage in any desperate ploy imaginable to get the cameras pointed in their direction.

    Want to sell some albums? Go out and get arrested. Want to build your brand for “keeping it real”? Get caught in the club with a gun on your hip. Want to keep your job at the record label? Start a beef with a popular artist and get him to respond to you. As hyper-masculine as most hip hop artists pretend to be, the reality is that they are scared little boys on the inside; absolutely petrified that their label is going to find another talented brother from the projects and give him the spotlight they’ve bet their life on. This is not always such a great place to be, which is why any athlete or entertainer needs to get educated.

    Hip hop is an enlightened and exciting industry. At the same time, it’s the same corporate machine controlling people of color and distracting us from true power by keeping us engaged solely in the act of entertainment. As much as I might criticize Jay Z for allegedly going after my friend Charlamagne tha God, the truth is that Jigga seems to be the only one who gets it. Hip hop is not about entertainment, it’s strictly business.

    If you want to hear an artist’s perspective on all of this, I spoke with the Kansas City rapper, Vigalantee about the beef between Jay Z and Beanie Sigel. Click below to hear the conversation:

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

     

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  • Chris Brown: Makes Comeback At Powerhouse Concert

    Chris Brown Makes Comeback At Powerhouse

    This week has been quite busy for Chris Brown — to say least. On Monday, the ‘Gimme That’ singer officially announced the Dec. 15 release date for his forthcoming album ‘Graffiti.’ On Tuesday, Brown premiered his new video ‘I Can Transform Ya,’ in addition to taking the stage for a headlining performance at Power 105.1’s Powerhouse ’09 concert. The concert marked Brown’s first stage performance since his Feb. assault of then-girlfriend Rihanna. Head over to ‘MTV News’ for a complete recap of the show.

    Meanwhile check out what Omarion and Polow Da Don had to say about Chris’ comeback below.

     

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  • Boston Market $1 Meal Deal

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    KFC isn’t the only game in town offering cheap eats. Now through Monday, Nov. 1, you can stop by your neighborhood Boston Market and get an entire MEAL for $1. You read it right, $1 MEAL! Click this link to download your free coupon for the $1 Boston Market chicken meal coupons. Only one coupon can be redeemed per person, per visit.

    Coupons are good for a quarter chicken, mashed potatoes and corn bread. Don’t miss out on this great deal. You’ll also find other valuable coupons on the Boston Market site valid until Nov. 25. But none like the $1 deal!

    BV came across another fast food deal. You may have heard about the new Black Jack tacos at Taco Bell. Well, it seems most of its participating restaurants are doling out free Black Jack tacos on Halloween night from 6PM to midnight. No coupon is necessary. Just stop in and get your freebie!

     

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  • **PHOTOS** Two Things Amber Rose Won’t Do

    Posted by: BlogXilla

    Amber Rose flashes her flat stomach while hanging out at her stylist Congo Green’s birthday party at Spaghetti Warehouse in Philadelphia on Friday (October 23).

    The 26-year-old model was at the party sans boyfriend Kanye West. Amber recently told the LA Times two things she wouldn’t do , saying, “Don’t ask me to grow out my hair or lose any weight. I want to represent real women who have curves!”

     

     

     

     

     

    FOR MORE PHOTOS, CLICK HERE

  • Financial Lovemaking: Man Shoots Boy for Sleeping with His Daughter

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    I have daughters and I love them all. They are all at “that age,” between 16 and 20, where they tend to love the boys that you want to beat down the most. Every time I hear them express their undying love for Lil Wayne, I can only think about him having 3 women pregnant at the same time. When I see a Chris Brown poster in their room, I remind them that Chris was accused of having boxing practice on Rihanna’s face.

    But as a father, you can’t protect your daughters from themselves. Some things they have to learn on their own. And if sleeping with a pants-saggin, “purple stuff dranking,” gold grill wearing, 10,000 tattoo having buffoon is the way they need to learn their lessons, you just kinda have to deal with it.I empathize with Wade Edwards, the man accused of shooting a boy for sleeping with his step daughter. Wade shot the boy four times, aiming for the “relevant zone” with each bullet. But while I can understand Wade’s anger, I do not, for one second, condone his actions.

    You see Wade, it takes two people to “get busy.” If your daughter was choosing to sleep with this boy, that was her bad decision, not yours. Sure, it was disrespectful for them to get naked under your roof, but fathers have been getting furious about this kind of thing since the beginning of time. Sex is a powerful drug, the essence of the existence of all mankind, so the urge of human attraction can be strong enough to lead to seemingly deviant behavior.

    The problem for Wade, however, is one that merges with the lessons we teach in Financial Lovemaking: Allowing your love for another person to cause you to do things that are going to be financially and emotionally devastating for your family. Wade might feel that he was somehow protecting his daughter (he claims that it was self defense, but I don’t buy that logic), but the truth is that he has now dragged his family into a draining legal drama that is going to cost them thousands in attorney’s fees and even more financial loses when one of the primary providers for the household has to spend his time in prison.

    Any father can relate to how Edwards might have been feeling. Also, every father has to wonder how far he would go to protect his children. I personally would give my life to save my daughters and not think twice about it. At the same time, I would not allow myself to go to prison to keep my daughters from having sex. Sexuality is a natural part of life, even when we feel that the person is too young to be doing it. Don’t pretend like you don’t know what I’m talking about; you probably did it too.

    The episode of Financial lovemaking is below. Enjoy!

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Warriors’ Jackson gives up captain title (AP)

    "Captain Jack" is no more. Disgruntled Golden State star Stephen Jackson asked to relinquish his captain title during a meeting Tuesday with Warriors coach Don Nelson and general manager Larry Riley. "Don't try to dig into it, that's just how I feel," Jackson said. "I don't want to be a role model.

  • Kandi Burruss: Breaking Her Silence About Ex-Fiance A.J. Jewell’s Murder

    Filed under: , , , , ,

    X-Scape Secret

    Kandi Burruss: Breaking Her Silence About Ex-Fiance AJ Jewell's Murder‘Real Housewives of Atlanta’ star Kandi Burruss is formally breaking her silence about the tragic death of her ex-fiance Ashley ‘A.J.’ Jewell.

    Jewell, who has appeared in several episodes of the hit Bravo reality series, was killed after a fight outside popular Atlanta strip club, The Body Tap, late Friday night. As previously reported by BV Newswire, Frederick Richardson was charged with voluntary manslaughter in the beating death of Jewell the next day.

    According to the Atlanta Journal Constitution, Richardson was an employee at the strip club and Jewell was a part-owner.

    The former Xscape front-woman released a statement on Sunday afternoon about her loss.

    “I am devastated by the loss of AJ. His death comes on the heels of the death of my beloved Uncle Ralph and with both of them gone, my heart is heavy with grief.”

    The Grammy Award-winning songwriter said that she spoke with AJ just two hours before she got the phone call that he was in the hospital. She added, “Never in a thousand years did I think it was going to be the last time I heard his voice. He was taken way too soon. There are so many things that I should have said to him, wanted to say to him…but now it’s too late.”

    Burruss previously took to Twitter.com early Saturday saying that she did not want to talk, but that she was thankful for prayers and kind words she received from the public. In her new statement, she expressed her gratitude at the support she has received.

    “I want to extend my heartfelt thanks to all of my family and friends — and that means my Twitter and Facebook friends as well — for the beautiful words of encouragement, prayers, and the sweet condolences. I make it through these difficult days because of you.”

    As for Jewell, he leaves behind six children. Burruss asked for people to “please pray for his children, his family and [her own daughter] Riley – they too are grieving the loss of an incredible man, son, brother and father.”

    The Atlanta native lamented, “I wish you all had gotten to know the AJ we all knew and loved,” and left a few choice words for the world.

    “I know this is cliché’ but I urge everyone to treat each day as if it’s your last and tell that special someone you love them today. Don’t wait. It may be too late.”

    No information on Jewell’s funeral services were released.

     

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  • Financial Lovemaking: Managing "Baby Mama Drama"

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    Most of us know about “baby mama drama,” since some of that drama may occur within your own home. What is also forgotten is that there is a huge emotional and financial toll taken by the mating and dating choices that we make early in life. Having multiple children is expensive enough, but having multiple children in multiple households leads to a peculiar mix of unpredictable and complex psychological variables which may impact your ability to find peace and happiness.In this episode of “Financial Lovemaking,” S. Tia Brown and I discuss the art of managing multiple households and all the responsibilities that come with it. Here are some quick pointers on financial responsibility when dealing with and avoiding “baby mama drama.”

    1) Don’t create the drama in the first place. I tell my daughters that if you don’t think someone would be a good parent for your children, you shouldn’t sleep with them. In fact, you shouldn’t even go on the first date. This may sound far-fetched, but how many young parents go on a date with someone they just planned to “kick it with”, only to find their children being raised by the ignorant fool that they knew they should never have messed with from the beginning? Those who are not intelligent about their dating and mating choices early in life can end up with a lifetime of incredibly expensive child support. These huge financial obligations will virtually obliterate your ability to have another family or reach your personal financial objectives.

    2) Realize that there is no substitute for time. Some parents are tempted into believing that sending a big check is a replacement for spending time with their children. This is ultimately incorrect. Your kids are going to remember the time you did or did not spend, not how much money you sent.

    3) Create a budget. If you have a long list of parental obligations, make sure you keep a carefully designed budget and stick to it. You may also want to consider the fact that having a bunch of kids in multiple households is going to require you to have massive earning potential. I paid 18 years of child support myself, and I honestly think I spent enough money to fund NASA and the United Negro College Fund. Although I adopted kids later in life (I believe it takes a village to raise a child and black men should be willing to step up to do this), I was at least smart enough to avoid another pregnancy. I have made many mistakes in my life, but I usually only make them one time.

    4) Don’t play favorites. Emphasize to your children the importance of making sure you treat them all the same. How you deal with your kids will have a lasting impact on them into adulthood. You can’t guarantee that they are going to believe that you were fair (there’s always one who thinks the others were treated better), but you can at least do your best to avoid this problem.

    5) Realize that it takes two to Tango. You didn’t create the baby by yourself, so you should ensure that the non-custodial parent has an opportunity to spend time with his/her children – in fact, you should demand it, even if the kids aren’t interested. As much as black men get a bad rap for not wanting to see their children (sometimes rightfully so), there are thousands of fathers across America who’ve been victimized by mothers who want money, but don’t see the significance of influencing the children to spend time with their father. They are his children too, remember that, and if you are speaking negatively about the father when the kids are around, you should realize the long-term damage you are doing to your own offspring. Children should be targets of our love and affection, not possessions to be used as a source of power – think about that when you use the words “MY kids” when speaking with the other person who created them.

    The episode is below, check it out!

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Don’t Let Your Spouse Control All of Your Finances

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    Financial News Blast for the week of September 26, 2009 – Click on the link for the title to read the article on the given topic:

    1) Don’t let your spouse control all of the family finances: This is a great article on how the entire family should be involved when making financial decisions for the household. When I wrote my book, “Financial Lovemaking 101,” I noticed that far too many American families are allowing their entire financial future to be controlled by one partner. You should be aware of what’s going on with your money, even if you’re not the one making all the decisions.

    2) Harvard Study: A Lack of Health Insurance Causes 45,000 Deaths Each Year: The healthcare reform debate has literally become a matter of life and death. We’ve got to find a way to get this done.3) How to get a home loan with bad credit: Many Americans suffer through credit problems. Where you’ve been doesn’t matter nearly as much as where you’re going. Getting a home loan can open the door to wealth and also create opportunities for you to rebuild your credit. Take a look at this article to find out how.

    4) The most lucrative college degrees: Going to college doesn’t guarantee a strong financial future. It’s going to college and choosing the right major that makes all the difference. Make sure you pick the right major for you and your children.

    5) Financial illiteracy is an epidemic in the United States: Banks and corporations are certainly predatory in their behavior. But you don’t have to allow yourself to be their prey. You must find a way to obtain basic financial literacy, for a lack of financial literacy was one of the primary causes of the 2008 economic downturn. If this epidemic is not managed, we are going to have serious problems for many decades to come.

    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: 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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  • Howard University Student Controversy Over Financial Aid Problems

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    Howard University has a problem. Apparently, the school’s students have taken lessons on freedom of speech to heart and actually believe they have a voice in running the campus. That problem is magnified by the fact that they are finally speaking up on issues of mismanagement and incompetence that plague many universities around the nation, particularly Historically Black Colleges and Universities.

    We all know that HBCUs can be amazing places to get an education. But we also know that many HBCUs are as slow as molasses when it comes to adopting the necessary administrative adjustments to keep up with the demands of college students. We also know that many HBCUs are not even hiring very many black professors, particularly in business and the sciences (Howard University is one of them). Not having the funds to engage in sound administrative policy is almost understandable. But ignoring calls for appropriate change because it undermines your quest to maintain power….well, that just makes you a black version of the Bush Administration.

    Diddy has come out and supported the students at Howard, and I support them too. The students at Howard University and other campuses around the country must understand very clearly that POWER ONLY RESPECTS POWER. If you are not focused in your vision and committed to fighting for what is right, the world is going to continue to abuse, mislead , exploit and oppress you. People will always enjoy walking over you if you remain committed to lying down.

    In the 19th century, the British maintained control over Chinese citizens by keeping them full of opium and low on education and ambition. By keeping their eyes off the prize, British leadership was able to manipulate the citizenry in any way they chose. When the Chinese people began to take control of their own destinies, this caused the Opium Wars, which opened the door for China to become the superpower that it is today. Whether you are referring to the federal government, university officials, or a pimp on the street, most oppressors who have power do not give that power away willingly.

    Like the British government of the past, University administrations can be as typical as any other entity when it comes to maintaining control of students and their minds. Students don’t realize how much power they can actually have, and most of them don’t even care. As long as students remain focused on going to one party after another and staying fearful of standing up for their rights, campus officials hold all the cards. University administrators have another advantage in that students are only around for 4 – 6 years, so by the time they realize they have any power, they’ve already graduated.

    When I was a student leader at The University of Kentucky (which in my opinion, is to this day, one of the most racist and segregated academic plantations in America), I remember periodically bumping into the university president. He would usually ask me the same question, “When do you graduate again?” When I became a faculty member years later, I figured out that the reason the president was asking about my graduation date was because he knew that when I left the campus, the student protests would leave with me. He was right; that’s exactly what happened. But from that experience, I learned that if you step out and fight for what is right, you might actually have a chance to win and make positive change for the good. Universities hate you for it today, but they give you an award for your efforts 30 years later. I encourage students at Howard University and other campuses across America to make sacrifices for their children and grandchildren, who will set foot on the same ground in just a few years. Were it not for students raising a little hell 30 years ago, you would not be where you are today.

    The students at Howard University have a legitimate grievance on their financial aid problems. It is as legitimate as the grievance of Kentucky State University students, many of whom are still living in hotels this late into the semester. Their grievance is as legitimate as that of the students at Morehouse College, who still don’t understand why a wealthy student can shoot a classmate and be allowed back into classes. Howard students should have their questions answered and be presented with evidence of systematic change in campus procedures.

    When it comes to bad leaadership, questions remain in the air, and they usually don’t get answered. Instead, the administration has the same formula: Just wait long enough and students will either grow weary, get distracted or leave the campus. Don’t be surprised if Howard University invites Lil Wayne on campus for a concert. Like the Chinese of 100 years ago, socio-political Opium always works to co ntrol the masses. Don’t let the leadership control you.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “What if George Bush were a Black Man?” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Black Business Blast: Rihanna Invests in Million Dollar Home

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    After a busy and tumultuous past few months, young millionaire Rihanna may be using her money to settle down on her own. Housing rumor has it that the funky beauty has purchased a $10 million dollar home in Los Angeles. This is a strong move, after being a public victim of abuse. Read below for more notable events in finance, housing, the economy and more from an African American perspective.

    ♦ 5 Tips for Homebuyers as the Deadline Approaches for $8,000 Stimulus
    The $8,000 federal tax credit for certain qualified home buyers is scheduled to expire December 1, 2009. Don’t be fooled by this deadline. This does not mean you have three months left to find your new home and make an offer.
    The Money Coach

    ♦ Study Shows Psychological Impact of Unemployment
    A new Rutgers study reveals the impact of unemployment on the individual, including depression, anxiety, and strained relationships.
    BusinessWeek

    ♦ Using Cash Helps Consumers Escape Debt
    Buried in credit card debts? Experts across the board suggest adopting a cash-only lifestyle.
    The Grio

    http://xml.channel.aol.com/xmlpublisher/fetch.v2.xml?option=expand_relative_urls&dataUrlNodes=uiConfig,feedConfig,localizationConfig,entry&id=710899&pid=710898&uts=1252014923
    http://www.aolcdn.com/ke/media_gallery/v1/ke_media_gallery_wrapper.swf
    Rihanna
    Rihanna dining at Giorgio Baldi in a black and white dress. Sept 2, 2009 X17online.com exclusive
    Getty Images
    X17online.com

    Recent Rihanna Pics

      Rihanna dining at Giorgio Baldi in a black and white dress. Sept 2, 2009 X17online.com exclusive

      Ice/X17online.com

      Rihanna dining at Giorgio Baldi in a black and white dress. Sept 2, 2009 X17online.com exclusive

      Ice/X17online.com

      Rihanna dining at Giorgio Baldi in a black and white dress. Sept 2, 2009 X17online.com exclusive

      Ice/X17online.com

      Rihanna dining at Giorgio Baldi in a black and white dress. Sept 2, 2009 X17online.com exclusive

      Ice/X17online.com

      Rihanna dining at Giorgio Baldi in a black and white dress. Sept 2, 2009 X17online.com exclusive

      Ice/X17online.com

      Rihanna dining at Giorgio Baldi in a black and white dress. Sept 2, 2009 X17online.com exclusive

      Ice/X17online.com

      Rihanna dining at Giorgio Baldi in a black and white dress. Sept 2, 2009 X17online.com exclusive

      Ice/X17online.com

      Rihanna dining at Giorgio Baldi in a black and white dress. Sept 2, 2009 X17online.com exclusive

      Ice/X17online.com

      Rihanna dining at Giorgio Baldi in a black and white dress. Sept 2, 2009 X17online.com exclusive

      Ice/X17online.com

      Rihanna dining at Giorgio Baldi in a black and white dress. Sept 2, 2009 X17online.com exclusive

      Ice/X17online.com

    ♦ B in the Spotlight… Chike Ozah
    Meet a New Orleans Director – Designer – Entrepreneur putting his name on the map.
    The “B-Life”

    ♦ The Shrinking Plus-Size Apparel Market
    To no one’s surprise, apparel sales have been going down over the past year — but the plus-size market has been hit especially hard.
    The Budget Fashionista

    ♦ NYU Business School Gets its First Black Dean
    Peter Blair Henry, a Jamaica-born Rhodes Scholar, moves to NYU in January 2010 from Stanford, where he’s currently holding the post of Konosuke Matsushita Professor of Economics. He’ll be NYU’s first black business school dean.
    The Network Journal

    ♦ Five Safe Investments
    If you are looking for some really safe investments, you should consider one of these five options.
    Out of Debt Christian

    ♦ Low-Wage Workers Are Often Cheated, Study Says
    Low-wage workers are routinely denied proper overtime pay and are often paid less than the minimum wage, according to a new study based on a survey of workers in New York, Los Angeles and Chicago.
    The New York Times

     

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  • Dr. Boyce Talks Money and Sex on ABC News

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    I recently appeared on ABC News to talk about Financial Lovemaking, and the link between sex and money. I’ve discussed relationships and money several times on AOL in the past, but I think that I should quickly lay out some very interesting similarities that may not have crossed your mind. As I teach my Personal Finance Class at Syracuse University this semester, I am reminded that managing our money is linked to managing our love, which is critical to the ultimate goal of effectively managing our lives.

    1) Many people think about both sex and money every single day. Don’t lie, you know you enjoy thinking about sex, even if you aren’t getting any. But chances are, you also think about money, whether it’s figuring out how to get what you need or how to keep what you’ve got. Even most rappers spend all their time talking about either sex, money or how they use their money to get more sex. It’s actually a universal concept.

    2) Both sex and money can make you feel good. If I wrote you a check for a million dollars, you’d probably end up having a good day. If I offered you the sexiest person you could think of to do as you wish, you might have an even better day. Both sex and money have the effect of giving us a natural high that leads to human beings spending their lives obsessed with obtaining both commodities.

    3) Both sex and money can devastate you if you are irresponsible. Promiscuous sex can lead to a life of disease and drama. Promiscuous spending can lead to a life of financial turmoil. Both sex and money, being the powerful drugs that they are, should be managed with both responsibility and moderation. They are both meant to be enjoyed, but not meant to be abused.

    4) It’s scary to share either one of them with another party. Your body is valuable, so you don’t want to share it with the wrong person. Your money is valuable too, so the same logic applies. Sharing your financial or sex life with the wrong person can lead to years of regret. Emotional, physical and financial investments are all quite risky.

    5) Both sex and money require trust if you are engaged with another person. I’ve heard women talk about financial betrayal by their partners in the same context as emotional betrayal. If you trust someone with your money, you are trusting them with your life. The same is true when it comes to trusting them with your body.

    6) It’s no fun to share either your sex or your money with someone who doesn’t know what they’re doing. Sex is better with someone who knows how to do it right. Well, sharing your financial future with someone who knows what they’re doing can actually lead to dramatic improvements in your quality of life. So, when you consider how good a person looks or how great they make you feel, also consider how great they can make you feel in the long run by providing both financial and emotional security, which can effectively be the same thing.

    7) One is often used to obtain the other. On average, guys with more money get more sexual opportunities and those who give good sex could use it to get their bills paid if they wanted to (Come on, let’s be honest here – what’s the oldest profession in the world again?). There are biological reasons that men with greater access to resources tend to make better mating options for women. The rapper Ludacris noticed how he suddenly went from “ah-ight” to “handsome” when he started to make money. That’s to be expected.

    In the episode of ABC News below, we talk about these links between sex and money in more detail. Enjoy!

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Black CEO says that the MBA is Worthless

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    I don’t have an MBA, and I’ve never wanted one. I earned several masters degrees and a PhD, but I never found the MBA to be a good investment when it came to actually understanding what I needed to do with my career. But unlike many of my friends, I wasn’t headed to Corporate America. Instead, I wanted to be a professor and entrepreneur, neither of which requires an MBA.

    My brother Lawrence is also getting an MBA from Cornell University, but he doesn’t want a job. Instead, he wants to utilize the network of the university to build his own business. I agree with this philosophy, since ownership is the key to building black wealth in America. Understanding business from all angles is critical to running a top notch organization.

    What is surprising, however, is that there are some captains of corporate America who are starting to question the value of an MBA when attempting to reach your goals. Mind you, this does not imply that the MBA cannot be an important piece of your long-term career plan, but it says that the MBA might not be enough.

    What is underemphasized by many who attempt to climb the corporate ladder is the necessity to learn the intangibles that come with corporate success. Fenorris Pearson, CEO of Global Consumer Innovation, Inc., argues that playing the game at the top of corporate America involves a set of skills that are not taught in a typical MBA program. Instead, Pearson believes that things like managing your peers and forging the right alliances can be critical to corporate success.

    In his new venture, called “The Corporate Climb,” Pearson lays out strategies he learned during his years as a Vice President of Global Consumer Innovation for Dell. He explains that having the credentials is only the beginning when it comes to managing life at the top. An MBA can open doors, but you must have quite a few additional skills to walk through the doors that have been opened.

    As someone who has taught MBA students for over a decade, I can also testify that the MBA should only be one piece of your long-term career building plan. This expensive piece of merchandise will only give you top value if you use it in the proper way. At the same time, I advise all of my business school students to get an MBA eventually, since you need all the advantages you can get. Based on my experience teaching MBA students, here are some quick thoughts on the value of the MBA.

    1) The MBA is important: Some kind of post-secondary education is highly recommended for most college students, especially those majoring in business. You shouldn’t just go to college: you should be at the top of your class and get as much education as you can. Mediocrity should not be on your agenda.

    2) You have to supplement the MBA with work experience: Just having the degree doesn’t mean that companies are going to come banging down your door. You have to do internships and find other valuable experience which will help you convince your employer that you can add to the bottom line. All the credentials in the world are not nearly as valuable to a company as a person who knows how to “make it rain” financially.

    3) The MBA is expensive: Many schools simply sell MBAs, meaning that if you pay a massive amount of tuition, you are probably going to get the degree. The average price of an MBA has spiraled to over $100,000 and now serves as a major money maker for most business schools. So, if you make this investment, make sure you are getting what you expect on the back end: more job opportunities and a salary high enough to pay off your student loans. If the investment pays off, then this can be a solid career move.

    4) Make sure your school helps you to find a job: The quality of the career placement center is incredibly important. If the school can’t place its graduates into high salary positions, then you may find yourself disgruntled.

    5) Don’t leave your fate in anyone else’s hands: The National Black MBA Association and other organizations hold networking conferences which can allow you to find opportunities for yourself. Do not be afraid to use these resources. You have to pound the pavement and create your own luck. Don’t let anyone take control of your future.

    6) Consider owning your own ship: Remember that the key to financial, social and psychological freedom is to own something. Black entrepreneurship is incredibly important to our community and your corporate experience can be a good foundation for you to own your own business. So, as you build your career in corporate America, don’t be afraid to create your own job via entrepreneurship. It might be the most rewarding decision you ever make.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Dating Tips For Black Men And Women

    Dating Tips for Black Singles
    These dating tips for Black singles can be applied to two Black people dating one another or a Black person having a date with someone from a different ethnic background. The fact of the matter is that by and large dating tips for Black singles are pretty much the same as for any other group of people be they Asian, Jewish or whatever.
    Dating tips for Black single women
    Like it or not you know the guy you’re dating is going to need his ego boosting. It’s an odd fact but men out on dates seem to spend more time trying to get their own ego boosted than they will think about complementing you. Maybe it’s because they are actually unsure of themselves or maybe it’s just the way they’re programmed; but the ‘peacock’ idea of a guy out on a date is very real. Now constantly saying how much you admire what they’re wearing or how good they are at – whatever it is you’ve chosen to do; lets say bowling or dancing or skating – is one way to boost their ego. However, it needs doing succinctly or you could end up just sounding sycophantic. Let him know that you value the person not the action. Of course this is tricky to do on the first few dates as you probably won’t know the date that well. However, a dating tip for Black single women is when making a complement; make one that incorporates another personality trait as this will really act as a double ego boost. For example, rather than saying “great bowling” say something like “great bowling, I can see you’re really thinking about what you’re doing”. Get the idea? Another dating tip for Black single women can be a real tester, but; don’t phone him after the first date, if you’re really keen on him – let him do the chasing and call you first. He’ll love the idea of ‘being in a chase’ and you’ll know just how keen he is on you by how quickly he wants to see you again. Whilst some guys would be flattered that you’ve phoned them others could go all cool towards you thinking that you’re getting ‘clingy’ with them. Be strong – and wait for him to call you – then you can start reeling him in.
    Dating tips for Black single men
    Don’t take offense guys, and this comment is not just a dating tip for Black single men – but all men. You might think it’s all manly and heroic to turn up for a date straight from the Gym. In itself that’s OK – but don’t cut the time so short that you leave for your date before showering. Yes a woman will find the male pheromones you give off attractive. Unfortunately dried and stale perspiration will have the opposite effect. Another dating tip for single Black men is, if you have to meet up with your date straight from work and whether or not it’s due to unforeseen circumstances, apologize for not having had the time to get home and change first. You don’t need to say anymore than that – but you are making it clear to your date that you’re not turning up at your date intentionally without first having had the chance to shower and change. She’ll admire and respect you much more for those few words. Some men need the next tip and some don’t, but of all the dating tips for Black singles – a guy mustn’t forget to complement his date on something, and preferably as soon as he sees her and then remember to complement her throughout the date. Most Black guys out on a date really try to impress and invariably like it when their date complements them. The same is true for your date, so don’t get so wrapped up in yourself that you forget to complement her. Saying something like “you look wonderful tonight” will always go down well. However, to avoid keep repeating yourself pay attention to the conversations you’re having and pick up on the clues and prompts that are in it for you to find something to complement her on. An easy dating tip for Black single men here would be: in a conversation about hair just saying something like “I love the way you’ve done your hair tonight” – will be great.