Black Man Black Woman

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  • Tom Joyner Morning Show, Roland Martin, Money and Power

    This morning I had the great pleasure of having a conversation with my respected colleagues, Tom Joyner and Roland S. Martin. I have always loved the Tom Joyner Morning Show. My respect for Tom came when I found out that he once commuted daily between Chicago and Dallas in order to host shows in both cities. I appreciate anyone willing to sacrifice to reach their goals. Roland Martin has an equally compelling story about how he was forced into bankruptcy in order to become successful.

    The truth is that there are a whole bunch of people who want success, but they usually want it for free. These brothers understand that you usually have to pay a high price to get what you want.

    We were discussing the case of Heather Ellis. Heather Ellis is a 24-year old college student now facing 15-years in prison after being accused of cutting line at a Walmart. We are planning a rally for Heather in Kennett, MO on November 16, with thousands coming from around the nation in order to save her life. Tom Joyner, Roland Martin, and Michael Baisden are just a few of the names of brothers and sisters around the nation willing to step up to tell Heather’s story to the public.

    After the show was done, I called my assistant and confidant Shauntay, in order to talk about the events planned for the day. Shauntay is a stern reminder to me that you are only as good as the people who work for you, and she is the greatest assistant on Earth. During our conversation, Shauntay asked me, “Did you notice how they seemed to get nervous and rush you off at the end?”

    I said, “Yeah, I noticed that. But I don’t blame them, I might have done the same thing.”

    Why was I rushed off at the end of the segment? It all has to do with Walmart being one of the key corporate sponsors for the Tom Joyner Morning Show. During the interview, I first mentioned that it was reported as far away as Memphis that Walmart employees were being asked not to discuss the Heather Ellis incident. Tom started to deflect the conversation away from the merchant.

    “Well, that could have happened in any store, right?” said Tom.

    I then went on to explain that, while it could have happened in any store, there was no getting away from the fact that it happened in Walmart: A Walmart employee was the one who chose not to serve Heather after accusing her of cutting line, the family reports that nearly every Walmart employee involved in the incident has been transferred to another store, and there are Walmart employees on the affidavits filed after the incident took place. There is no way to disconnect Walmart from this incident.

    Unlike our supporters in Detroit, who are ready to boycott Walmart and stage a complete “black out” of the store, I have not asked for such a thing. Instead, I’ve only requested that Walmart use its influence to help Heather during her trial. I honestly believe that one sincere phone call from the right executive can make this situation go away. A daughter of a pastor, in college, with no criminal record is hardly the kind of thug that should be rotting away in the penitentiary. Anyone can understand that.

    This discussion of The Tom Joyner Morning Show is not a negative reflection on the righteousness of Tom Joyner or his choice of having Walmart as a corporate sponsor (if it were Wells Fargo, then we might have an issue). The incident is reflective of how the power of media is driven by corporate sponsorship. Given that corporate sponsors controlled by the descendants of the historical oppressors of black people are financing most African-American media, the ability to pursue true and meaningful activism is sometimes muted. In other words, nobody disrespects their daddy, especially if their daddy is the one putting food on the table. The life of one black woman is not, to some, worth the loss of millions of dollars in corporate money (I do not agree with this assessment). One of the limitations of capitalism is that it forces us to put a dollar value on human life. I personally think human life has infinite value, and that is why I am fighting for Heather.

  • Appeals court: Vick can keep $16M bonus (AP)

    A federal appeals court is backing the judge who ruled against the NFL and let quarterback Michael Vick keep more than $16 million in roster bonuses from the Atlanta Falcons. The 8th U.S. Circuit Court of Appeals on Tuesday affirmed Judge David Doty's order saying Vick had already earned the bonuses before his dogfighting conviction, so the money wasn't subject to forfeiture.

  • Exercise With An Elliptical

    Exercise is something that numerous of us are finally getting the hang of. The older we get the more we realize that in order to stay thin and to keep up with our athletic and much younger kids we have actually have to exercise. I discover that one of the…

  • Dr Boyce Money: Learning Entrepreneurship from Madam CJ Walker

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    The other day, I caught up with Fenorris Pearson, CEO of Global Consumer Innovations. Fenorris is not only a highly successful entrepreneur, he was also one of the youngest Vice Presidents at Dell Computer and a highly successful speaker in the African American community.

    When asked about the keys to success, he points to a quote by Madam CJ Walker, the first female millionaire in American history.

    Here is what Walker had to say:

    “I am a woman who came from the cotton fields of the South. From there I was promoted to the washtub. From there I was promoted to the cook kitchen. And from there I promoted myself into the business of manufacturing hair goods and preparations….I have built my own factory on my own ground.”

    National Negro Business League Convention, July 1912

    What’s the lesson from Madam Walker’s quote?The lesson from Walker’s experience is that when she thought like a laborer, she earned the wages of a laborer. When she began to think like an owner, that is when she opened the door for true wealth.

    Mr. Pearson spoke this week at the Congressional Black Caucus Event alongside the Honorable Barbara Lee, a Democratic Congresswoman from California. In the seminar, Fenorris uses his experience as an entrepreneur and corporate titan to make the following points:

    1) 95% of all new businesses eventually fail. In order to have a different set of outcomes, you must engage in a different set of activities. In order to ensure that you are not part of the other 95%, you should be fully committed, willing to take a few calculated risks, and do an extraordinary amount of planning in order to make your business succeed. You should also expect the unexpected – you never know what it’s like to run a company until you’ve done it.

    2) Most of these business fail for the following reasons: Lack of access to capital, poor management, expanding too quickly or starting the business for all the wrong reasons. Pearson argues that many of these problems can be avoided if a company engages in proper planning and organizational strategies. One of the things I’ve noticed is that you can’t run a large company the way you once ran a smaller one. Many black entrepreneurs run into challenges as their companies grow, because they have not gotten used to the idea of delegation. Once your business reaches a certain size, you should find ways to share the more trivial tasks with others so you can focus on the more important objectives. A billionaire once said to me, “Running a company is not a matter of what you do, it is what you get others to do that actually matters.”

    3) There are ways to avoid this kind of failure. With his company, Global Consumer Innovations, Inc., Pearson teaches business owners how to avoid the common causes of small business failure. He argues that by using specific steps toward proper product innovation and market delivery, a firm can find itself in a strong position in its chosen market.

    When starting a business, the bottom line is this: The truest path toward wealth creation and social power within the black community is not through politics. The path to power is economic prosperity, combined with a conscientious desire to improve the plight of those around you. True activism is not achieved through charity and personal freedom is not achieved by hoping for it. By thinking like an owner and having a willingness to take intelligent risk, you can achieve your wildest economic dreams.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University, a prominent black 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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  • Regulators Issue Cease and Desist Order to Chicago Bank

    Chicago-based Highland Community Bank received a cease and desist order earlier this month from federal and state regulators that charges the company with engaging in unsafe and unsound banking practices. The order also suspends the bank’s authority to pay cash dividends or increase assets without regulator permission.