New claims for unemployment insurance fell more than expected last week, evidence the job market is slowly healing as the economy recovers.
Tag: job
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Bill Cosby, The Face Of Intolerance?
Posted by: Russell Simmons There are a lot of great entertainers who do great things. Bill Cosby is one of them. He has always used his voice to right what he thought was wrong. However, I believe that too often Mr. Cosby has wrongly placed the blame.
Bill Cosby is an example of someone from the older generation who has consistently blamed the poets and asked suffering community members to bare the full burden of guilt for the struggles that they endure. It is certainly not that he and the rest of the elders don’t care, because they do. In fact, their intentions are pure and good. All the things they say are actually true. What they don’t understand is that the young people who they criticize did not create their own realities. They did not create the crumbling education system that we school them in. They did not create the drug epidemic and drug wars that have resulted in a dysfunctional family structure. They did not create the health care crisis that does not treat them. They did not create the culture of violence that they fall victim to.
While it is true that each one of us can make a change at any moment, it is equally true that at every minute we are all doing the best we can. If you knew better, you would do better. Therefore, those who care and have resources could/should work to create the kind of support systems that could inspire change. From the preacher who lifts our consciousness and asks us to reach for strength to the politicians and philanthropists who put programs in place to support our growth. When the President brought the Cosby attitude to his NAACP speech a few months ago, I was disappointed. It is nice to tell black people to stand up, but isn’t that really Min. Farrakhan’s job? The President’s job is to tell them to walk to the program that he placed on their corner. It is our job to instill the inspiration that gets a young person to walk into the program and not stand on the corner.
We love Cosby and all the older types who judge and blame the poets or culture for the sadness that the poets point to from their realities. From a place of love, I am letting the older generation know that they must admit that young people are less racist, less sexist, less homophobic, less prejudice than their parents and far less than their grandparents. Mr. Cosby, you know that your generation is carrying a lot more dirt, you are all just smart enough to cover it up. Old people are quicker to destroy the planet, abuse the animals and promote wars and then act like young people are violent. Young people are more compassionate, giving, promote gay rights, animal rights, human rights, protect the environment and want to end the wars. When they point out the contradictions that come up and say it on a record and say it LOUD, you can’t believe it! The culture and the poetry is a mirror of the realities that they expressing. Instead of criticizing, let us recognize the faults of adults, because until that happens you all will continue to turn off young people from your message and further alienate them from your generation.
I love Bill Cosby. Who doesn’t? I love him so much that is why I am writing this blog. But this is not just about Mr. Cosby. I know that tomorrow there will be headlines that read “Russell Simmons attacks Bill Cosby.” But let’s be clear, this is a call-out to all the adults who are judging more and listening less to the beautiful, progressive voices that come from our young people…Bill Cosby just happens be on the front line. This is about two generations reconciling…I guess because of my age, you would say that I am stuck on the other side, but I will always recognize that young people can use support instead of judgment. We need to have the hard conversation and both sides need to listen – if you need an office to do it in, my door is always open.
with great love
all things are possible-Russell Simmons
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Secretary Causes Pepsico to lose $1.2 Billion Dollar Lawsuit
Filed under: Dr. Boyce Money, News
It’s not easy to work for me: I can be demanding, overly focused and intense about everything I do. I believe that reaching extraordinary goals requires you to always put forth extraordinary effort. Many interns have come and gone, after realizing that they can’t keep up with our crazy pace. The ones who make it through the storm become invaluable parts of my family; like body parts or internal organs. I truly can’t live without them.
That is why I cringed when I saw the recent story about how Pepsico lost a $1.26 Billion dollar judgment because the secretary forgot to pass the paperwork onto the appropriate people. As a result, the company lost the lawsuit on a default judgment for failing to appear in court.
Apparently, it was a simple oversight that could have happened to anyone. But I am sure that the secretary is in hot water and probably even fired. Cases like this are reminders of some important principles you should remember when you are in business for yourself or working for another person.
1) Trust is everything. For me, trust starts on the first day of the job interview. If someone arrives late, that means that I can’t even trust them to get to meetings on time. If I can’t trust you to get to meetings on time, then there is no way on earth that I am going to trust you with a valuable contract. Consistency builds trust. You must always find a way to be consistent when working with or working for other people.
2) You are only as good as the people who represent you. This statement implies two things: That you should get good people around you and that you should respect those who work for you. Hiring lazy relatives or friends who aren’t disciplined enough to do the job is a recipe for disaster. I have plenty of friends with whom I have good relationships, but I would never do business with them because I know that some of them are unreliable. Those who I choose to be part of my team are not reminded that I am the “big boss.” Instead, I let them know that I am in charge, while showing appreciation for their efforts every chance I get. Being respectful of others is how you truly earn respect without having to step on people in order to maintain power. If you rule with an iron fist, your subordinates will eventually plot to destroy you.
3) Excuses need not apply. There are two types of people in this world: those who deliver excuses and those who deliver results. All of us run into obstacles, but the most effective people are the ones who find a way around those obstacles to get the job done. Those who regularly deliver a basket of excuses to somehow exclude them from their assignment are going to be replaced by someone who simply gets the job done. The truth is that in the world of business, even if you have a good excuse, the client is going to still take their business away from you. That’s just the truth.
4) Learn to forgive. My most trusted partners and subordinates have made horrible mistakes and cost me money in the process. While my first temptation was to raise the fire of hell, I realized early on that this was not the best long-term solution. Instead, I simply ate the loss and assertively pursued a joint remedy for the problem at hand. Having power doesn’t mean that brute force tactics are always the best strategy. You might lose someone valuable if you don’t know when to show compassion. A good employee already feels bad enough about their mistake; you don’t have to rub it in further.
I am not sure how Pepsico is handling the situation with the secretary, since some excuses are simply unforgivable. But while we can all understand being outraged by losing a billion dollars, we should also know not to sweat the small stuff.
Dr. Boyce Watkins is a Finance Professor at Syracuse University and a leading African American keynote speaker. To have Dr. Boyce commentary delivered to your email, please click here. -
GM Kokinis leaves 1-7 Browns (AP)
The Cleveland Browns invisible general manager has disappeared. George Kokinis, the hand-picked GM of first-year coach Eric Mangini who was rarely seen or heard in Cleveland, left the team Monday under unexplained circumstances after less than one year on the job. After reports surfaced that Kokinis was fired, the team issued an awkwardly worded statement saying Kokinis "is no longer actively…
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Padres hire Red Sox’s Hoyer as GM (AP)
Jed Hoyer was once co-general manager of the Boston Red Sox for 44 days after Theo Epstein walked away from the job. Now Hoyer has a GM gig of his own. The San Diego Padres have hired Hoyer as their new general manager, a person with knowledge of the situation said Saturday. The person spoke to The Associated Press on condition of anonymity because the formal announcement won't be until Monday.
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Navigating an Awkward Interview
Most interviewers stick to job-related questions. But let’s face it: Some are socially awkward, untrained, rude, or even offensive. If you’re stuck with that interviewer, consider these tips:
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Dr. Boyce and Keith Murphy Discuss Economic Empowerment
Filed under: Interviews, Personal Finance, Dr. Boyce Money
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. -
DC Budget Cuts Can’t Overcome a Mother’s Love
Filed under: News, The Economy
My mother gave birth to me when she was 17-years old. As a teen mother who didn’t have a lot of money, she didn’t know the first thing about raising a child, taking care of her health, or preparing for her economic future. Fortunately, there were adults in community-based programs who cared enough to teach her the things that she didn’t yet understand.
It is for that reason I support programs like The Health Babies Project in Washington, DC. There is no more important job than that of a mother, and The Healthy Babies Project understands that. The great challenge for the organization is that politicians seem to remember that babies don’t vote. So, when the funds are low, programs like this one are among the first to be killed.
Due to recent budget cuts, DC Mayor Adrian Fenty has allowed for the program’s budget to lose a whopping $500,000 per year, well over half of the funding that the program needs in order to operate. Dr. Pierre Vigilance, Director of the Department of Public Health, has played his role in the process by allowing funding to be cut that had been previously promised to the organization. What’s worse is that the program has been doing a better job than the Department of Health itself when it comes to reaching benchmarks on the elimination of infant mortality.
The unborn babies can’t quite speak for themselves, but their mothers aren’t taking this lying down. The organization is planning a rally Tuesday, October 6 in Freedom’s Plaza, located on Pennsylvania Avenue. The women being supported by the program are also working the phones to hold local officials accountable and are even pushing to get the attention of First Lady Michelle Obama.
Programs like The Healthy Babies Project are important, since infant mortality in the black community is 2.3 times greater than that for white Americans. Additionally, persistent problems in the DC area, such as HIV infection and malnutrition require continuous dedication from public officials. One can understand the idea of cutting a program that isn’t working. But if a program is doing well, and goals are being reached, why would this be the program that gets one of the most significant funding cuts in the city?
Perhaps we are getting a chance to see DC politics at its finest. Politicians are going to be political, but our children need our support.
Dr. Boyce Watkins is a 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. -
Stafford wins Lions starting QB job (AP)
Matthew Stafford won the Lions' quarterback derby. Daunte Culpepper didn't lose the job. That's what Detroit's new coach, Jim Schwartz, emphasized Monday when he made the No. 1 overall draft pick the starter for Sunday in New Orleans, when the Lions try to win for the first time in 21 months.
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Super Bowl hero Tyree released by Giants (AP)
David Tyree has gone from Super Bowl hero to out of a job. Tyree was released by the New York Giants on Saturday in the final cutdown that also featured a late trade with backup tight end Michael Matthews, another Super Bowl veteran, being shipped to the New England Patriots for a conditional draft pick.
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Is College a Good Investment During a Recession?
Filed under: Personal Finance, Careers, Dr. Boyce Money
I was invited onto “Tell Me More with Michel Martin” to discuss college and whether or not it makes sense to invest in college during an economic downturn such as this one. I have written extensively on the value of going to college, since I argue that education plays a huge part in determining whether you end up being a true player in life or just end up getting played. Black college students must really note the significant impact of attending college, since people of color benefit the most when we get ourselves educated.
Here are some thoughts regarding whether or not college is a good idea during a recession:
1) You must decide if college is a necessity or a luxury item for you. If you are a wealthy kid who can rack up $80,000 in debt to major in Philosophy and Theatre, then God bless you. But just make sure you are aware that the major you choose plays a huge role in your ability to manage debt after graduation. This is not a slap at those who choose majors that don’t have a strong job market, it’s just a reminder to make sure you know what you’re stepping into. Personally, I majored in business, because college was not just my path toward educational enlightenment, it was my way to pay the bills when I got older.
2) Figure out what you hope to get out of college. If you want to simply get a good education and are not worried about the job market very much, then you don’t need an expensive school to do that. Education is what you make of it. I’d rather be a student at a state university who studies 7 hours a day than to be a frat boy at Yale living at the bottom of a beer bottle. The student who studies is going to learn; the one who doesn’t study won’t learn a thing. College is what you make of it. But if your goal is to use the name of your campus to open doors for great job opportunities, then this might justify the cost of an expensive university.
3) Parents, the debt is not all yours. You are getting ready for retirement, your children are young. Pretty soon, they will be earning more money than you. Does it make sense that you’ll spend your golden years paying student loans for an able-bodied adult? Perhaps it’s time for your children to learn how to take care of you? They will never learn to be financially independent if you don’t teach them. Allowing your child to manage some of his/her student loan debt doesn’t make you into a bad parent. You got them to age 18 in one piece, some would say that you’ve done enough.
4) Grad school anyone? Some majors require additional education for you to be competitive in that particular market, some do not. Think through this carefully when deciding if you want to make the massive investment of going to graduate school. I believe that an MBA is usually worth the investment, while a masters in Anthropology may not always get you the job you’re seeking. But outcomes can vary depending on the major, and you should do your homework.
5) Education gives you job security. One thing that many autoworkers learned during the recent economic downturn is that having a good job with little education makes you highly vulnerable to economic flucuations. African Americans were the hardest hit during the recession, and many of us lost our jobs when the auto industry tanked. Even if you earn a lot of money, you should never stop believing that additional education doesn’t have value for you. You don’t want your financial future to be in the hands of someone else.
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Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “Everything You Ever Wanted to Know about College.” To have Dr. Boyce Commentary delivered to your email, please click here. -
Obama Admin Planning to Revive Civil Rights Enforcement
The Justice Department is moving forward with plans to expand its civil rights division, pursuing cases of discrimination in the workplace, housing and voting rights. From his first day on the job, Attorney General Eric Holder has pledged to strengthen the Civil Rights Division he inherited from the Bush administration.
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Black CEO says that the MBA is Worthless
Filed under: Personal Finance, Careers, Dr. Boyce Money
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.