l
The A r
ea
t
h t e f D o
IN THIS ISSUE...
Publisher’s Message…page 3 Accelerating Job Growth…page 8 Urban Entrepreneurship…page 48 Let’s Move.....page 71
AEG Invites Current and Interested Supplier Partners to our
Supplier Portal, an online communication tool designed to enhance the relationship between AEG and our partners. The portal is an online and paperless tool that will provide you with: Increased visibility for AEG business opportunities Extended Company Profile in online directory Direct email updates from AEG clients and buyers Easy accounts payable information sharing Increased exposure for MBEs, WBEs, and DBEs It is important that you register your business so that we have the ability to contact you for participation in future opportunities. Suppliers seeking to initiate business with AEG are encouraged to register as well. Registration is simple and we invite you to visit our Supplier Portal at your earliest convenience:
https://supplier.aegworldwide.com
Publisher’s Message
Earl “Skip” Cooper, II The Art of the Deal - The Business of Buying, Selling, Acquiring and Merging Businesses by African Americans
Y
es, we also acknowledge Independence Day on the 4th of July with barbecues, picnics, fireworks, and carnivals; however, there is probably be no better way for Black entrepreneurs to celebrate their independence than to start paying homage to the age-old art of putting together a business deal. African Americans’ independence should be centered on having economic and financial freedom. It was also 30 years ago this month, that I had the pleasure of meeting one of America’s most successful and skillful dealmakers, Reginald Lewis. He was general counsel for the American Association of Minority Enterprise Small Business Investment Companies (MESBIC) (See information on MESBICs at the end of this article). Later, he would leave purchasing law to focus on putting business deals together. He orchestrated a series of business transactions during the 1980s that included the purchase of the McCall Pattern Company and Beatrice International Foods. His talents and expertise made his company, TLC Beatrice International, the first black-owned company to have more than $1 billion in annual sales in the history of the United States. At the time of his untimely death at the age of 50 in 1993, TLC Beatrice had sales of over $2 billion. While many of us, including myself, might disagree with the political beliefs of Herman Cain, we applaud him as an entrepreneur dealmaker. Before Pillsbury named Herman Cain CEO and President of the Godfather’s Pizza in 1986, he had an exemplary corporate
background of turning around a region of Burger King restaurants from one of the least profitable to one of the most profitable groups of Burger Kings in the country. While not being content of just being the CEO of Godfather’s Pizza, Cain led a group of investors to purchase the Godfather’s brand from Pillsbury. Cain sold his equity stake in Godfather’s Pizza, and pursued other interests, including running for U.S. President on the Republican ticket. Often a deal can be structured by combining the talents and resources of others. That’s what J. Bruce Llewellyn, one of America’s most successful Black entrepreneurs had done. Before he died last year, Mr. Llewellyn had a demonstrated and distinguished career in law, banking and broadcasting. One of the highlights of his career was in 1985 when he teamed up with Bill Crosby and Julius “Dr. J” Irving to buy a majority share of the Philadelphia Coca-Cola Bottling Company first of the Coca-Cola bottling plant to be owned by African Americans. Kevin Cohee, Chairman and CEO of OneUnited Bank also serves an example of a successful dealmaker. Implementing an acquisition strategy mirroring those used by mainstream banks during the 1990s, Kevin Cohee has acquired a number of black-owned banks in Boston, Miami, and Los Angeles to create the first black-owned interstate bank in the nation. However, much of success before this can be attributed to teaming up with American Express executive Teri Williams to purchased a credit card company. The two of them, along with an investment
team, acquired a credit card company that specialized to military troops and their families. They sold the company to First Chicago Corporation and made a small fortune. Kevin and Teri Williams used $1 million of their own funds to purchase controlling interest in the Boston Bank of Commerce. Later, Mr. Cohee purchased the People’s National Bank of Commerce from the Federal Deposit Insurance Corporation (FDIC). Then, in 2000, he used a stock swap, worth reportedly $10.2 million to acquire Founders National Bank in Los Angeles. The star power of investors Magic Johnson, Janet Jackson, and former Motown President Jheryl Busby also helped in the deal. Subsequently, he acquired Family Savings, thus making OneUnited one of the largest African American-owned financial institutions in the nation. From banks to hair care companies,
3 July 2011 Black Business News www.bbnews.org
see Publisher’s Message on page 19
About the Black Business News…
Black Business News
The mission of The Black Business News is to inspire and inform public and private sector industry representatives on the importance of smart small business growth. As a versatile source of socioeconomic development activity, the Black Business News imparts current local, national and international industry trends related to small businesses across the United States of America (USA), detailing greater access to financial capital, management efficiencies, business education, mentors and networks. The goals of the Black Business News include: •
increasing the use of business enterprises owned by USA-based blacks, by advocating for greater access to leading finance lenders and successful business managers.
P.O. Box 43159, Los Angeles, CA 90043 323-291-9334 Fax: 323-291-9234
PUBLISHER/EDITOR-IN-CHIEF Earl “Skip” Cooper, II
PRODUCTION MANAGER Narishima Osei
CONTRIBUTING WRITERS LaSandra Stratton • Dean Jones • Steven Turner
GRAPHIC DESIGN Sarah Harris
STORY EDITORS
•
working to merge resources, values, profits, technology throughout the public and private sectors.
Wanda Flagg ▪ Jennifer Marie Hamilton
•
balancing major public and private sector contracting methods with positive outcomes of black-owned and operated enterprises.
Ian Foxx ▪ Sabir • Narishima Osei
•
providing an affirmative influence for or emerging entrepreneurs sharing inno-vative design and creative cultural con-tent that exposes them to the history off black enterprises and excite them to o participate in the USA’s future.
•
advocating and promoting on behalf of black-owned businesses by promoting the need for expanding an economic foundation that supports an unfettered and selfsustained urban society with USA job creation and economic opportuniwhere blacks work, live and operate able business enterprises.
PHOTOGRAPHY CONTENT ADMINISTRATOR LaSandra Stratton
LAYOUT/TYPESETTING Lion Communications Copyright © 2011 by Black Business News All Rights Reserved. The posting of stories, commentaries, reports, documents and links (embedded or otherwise) on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such posted material or parts therein.
t y, vi-
AWARDS U.S. Small Business Administration (SBA)
2007 Journalist of the Year Award LA/Minority Business Opportunity Center (LA/MBOC)
2010 Media Firm of the Year 4 July 2011 Black Business News www.bbnews.org
FEATURES…
3
April 2011
8 10 12 14 21 23
Publisher’s Message: The Art of the Deal
8 GOVERNMENT… Accelerating Job Growth & Competitiveness Meeting the Job Creation Challenge Fiscal Policy Challenges President Obama Visits Puerto Rico MBDA: Helping Corporations Find Minority Business Partners SBA & Partners Disseminate Exporting Information
26 BUSINESS…
46
Resources for Going Global
2 28 30 3 36 3 46 4 48 4
Editorial-AT&T/T-Mobile Merger
52 5
Review-Black Business Association’s 37th Annual Awards Dinner
Black Farmers Settlement Fund-Are You Eligible? Review-Procurement Opportunity Day, Los Angeles Urban Entrepreneurship: John Hope Bryant, Russell Simmons, Institute for Entrepreneureal Leadership
60 PUBLIC INTEREST/COMMUNITY… 66 69 71 Columns 41 - Take A Look! 93 - Books to Consider... 99 - Calendar Action Alerts 02 - AEG Supplier Portal 64 - Help for Haiti Sponsors 07 - Black Business Association
Emory University Launches African Origins Project NAACP Fighting for National Education Equity, Join Today Let;s Move - Child Care Guidelines for Parents and Service Providers
70 INTERNATIONAL… 80 81 84
Resources for Going Global al AGOA Forum 2011 - Africa a is Open for Business First Lady Michelle Obama a Visits Southern Africa
Cover image - Sarah Harris
5 July 2011 Black Business News www.bbnews.org
79 King Memoria l to Open In August
SERVING THE INDUSTRY and the TRADE PIPE - VALVES - FITTINGS - METALS - TOOLS PROCESS CONTROLS - INSTRUMENTATION - WATER WORKS
Brandon Supply Corporation is a world class distributor of industrial supplies. Brandon has been proven to be a dependable source of supply to the petrochemical, power generation and waterworks industries providing fast and reliable service. Brandon, in maintaining the policy of selling only superior products, represents only the nation's top manufacturers.
SBA CERTIFIED We offer a full range of valves for all piping applications, pressure tubing in all sizes and schedules, a complete line of fittings, flanges and couplings in all metallurgies. We also offer a full range in PVC, HDPE and other materials.
Clarence D. Scott, CEO CORPORATE HEADQUARTERS 14120 Gannet Street Santa Fe Springs, CA 90670
MAILING ADDRESS P.O. Box 5354 Buena Park, CA 90623
Phone: 562-921-0407 | FAX: 562-921-5945 800.238.5906 (Outside California) www.brandonsupply.com | cdavis@brandonsupplycorp.com
ALL MAJOR CREDIT CARDS ACCEPTED
Over 40 years of service Founded 1970
About the BBA…
Since 1970, the Black Business Association (BBA), a 501(c)(3) non-profit organization, headquartered in Los Angeles, has been instrumental in the incubation and development of more than 15,000 African-American businesses. Nationally, we have access and influence with more than 85,000 African-American-owned and women/ minority-owned firms via strategic alliances with more than 100 women/minority trade associations in more than 42 states nationwide.
___ Our Mission ___ The Black Business Association’s mission is to advocate and promote the development of African-American owned businesses with the goal of creating a firm economic base that support the self-determination and survival of the African-American and urban community by: •
Identifying and creating financial opportunities for the growth and stability of African-American owned businesses;
•
Being a community voice that advocates for the success of small businesses;
•
Being a conduit for the merging of resources, values, profits, technology and people;
•
Promoting development and support of minority business enterprises within the domestic and international economies by encouraging and generating greater access to market opportunities and capital;
•
Providing training for entrepreneurial professional development;
•
Supporting and contributing to the economic base and progress of the African-American community; and
•
Developing coalitions that support our political endeavors to effectively achieve public recognition and political influence for African-American business owners.
___ Advocacy ___ The Black Business Association maintains very effective working relationships with elected and appointed officials for the support of African-American business development. Locally, statewide and in Washington, DC, we are constantly aware of pending legislation that might affect our member’s businesses, their growth and even their ability to conduct business. When legislation is being considered that affects our mission, the BBA quickly mobilizes to work with key policy makers to support, defeat or modify the bill and pursue the BBA position. As an organization, we are constantly at the helm, securing innovative means and policies that protect our constituency and their business interests.
2011 Events
July 19th Reception for FCC Commissioner Mignon Clybourn Thursday, 5:30pm - 7:30 pm City Club, Los Angeles RSVP by July 15th at mail@bbala.org
November 3rd
8th Annual Procurement Exchange Summit & Awards Luncheon
Black Business Association P.O. Box 43159, Los Angeles, CA 90043 USA Tel: 323-291-9334 E-mail: mail@bbala.org
honoring African American entrepreneurs and offering one-on-one opportunity exploration
• Call 323-291-9334 for information on sponsorship and participation •
www.bbala.org www.facebook.com 7 July 2011 Black Business News www.bbala.org
Government
President Barack Obama delivers remarks at Cree, Inc., in Durham, N.C.. (Official White House Photo by Samantha Appleton)
Ideas to Accelerate Job Growth and America’s Competitiveness Presented at Jobs Council Meeting
P
resident Obama traveled to Durham, NC to meet with the Jobs and Competitiveness Council at the corporate and U.S. manufacturing headquarters of Cree, a leading manufacturer of energy efficient LED lighting. While at Cree, the President toured the company’s LED lighting product assembly facility, met with the Jobs Council and delivered remarks to Cree employees, Jobs Council members, local business owners and representatives from nearby engineering colleges and universities. The President’s Council on Jobs and Competitiveness is led by GE Chairman and CEO Jeff Immelt and is composed
of representatives from various sectors of the economy andleaders in diverse industries -- people running large and small companies that represent millions of Americans helping the economy run every single day. The Jobs Council held their first meeting at the White House on February 24, 2011. At that time the Council committed to holding their second meeting outside of Washington, DC. Cree’s facility, located in the heart of North Carolina’s Research Triangle Park area, was selected to hold the second meeting. In his remarks today, the President commended Cree for exemplifying the potential of American innovation, manufacturing and advanced
technology: Today the small business that a group of NC State engineering students founded almost 25 years ago is a global company. It’s got 5,000 employees. Next month, your new production line will begin running 24/7. And soon you’ll add another 400,000 square feet of space on a new site next door. So you’re helping to lead a clean energy revolution. You’re helping lead the comeback of American manufacturing. This is a company where the future will be won. He also discussed the role of his Council on Jobs and Competitiveness and detailed some of the
8 July 2011 Black Business News www.bbnews.org
see Small Business Agenda on page 9
Job Growth from page 8
recommendations to address shortterm, medium-term and long term economic growth and job creation that they presented to him today: And today, with the leadership of the Jobs Council, we’re announcing an allhands-on-deck strategy to train 10,000 new American engineers every year. So -- and by the way, our Jobs Council, led by Jeff Immelt, they’re doing this not counting on a whole bunch of federal funding. Private sector companies are
administration has invested heavily in clean energy manufacturing, because I want to see the LEDs and solar panels and wind turbines and electric cars of tomorrow made right here in the U.S of A. I want them made right here. We invested in this company with a tax credit that allowed you to boost capacity and lower costs and hire hundreds of new workers. And with a grant from the Department of Energy, you’ve made incredible breakthroughs in smart grid technology to transmit clean, renewable energy across the country more efficiently at less cost. Now, breakthroughs like these have
American workers. Now, that brings me to a second idea that we discussed backstage. At Cree, you’re putting people back to work in a field that has the potential to create an untold number of new jobs and new businesses right here in America -– and that’s clean energy. And my
the potential to create new jobs in other sectors of the economy as well. Think about it. Cree makes energy-efficient lighting that can save businesses and consumers a lot of money. And there are a lot of buildings out there that need upgrading. And there are a lot
Government
today. And Paul is heading up our task force for the Jobs Council in helping to figure this out, because he understands Intel’s survival depends on our ability to get a steady stream of engineers. I’ve been, by the way, to the Intel plant out in Oregon. It is unbelievable. It’s out of -- something out of science fiction. And I pretended like I understood what they were saying the whole time. But that’s what’s going to drive our competitiveness in the future. We know that if we’re going to maintain our leadership in technology and innovation, our best companies need the world’s brightest workers –-
President Barack Obama tours the manufacturing facilities at Cree, Inc., a leading manufacturer of energy efficient LED lighting, in Durham, NC. With the Presient are: Chuck Swoboda, Chairman and CEO of Cree, Inc., left, and Matthew Rose, Chairman and CEO, Burlington Northern Santa Fe Railway, right. (Official White House Photo by Pete Souza)
teaming up to help us promote STEM education, to offer students incentives to finish those degrees, and then to help universities fund those programs. They’re going to double their summer internship hiring. We’re talking about companies like Intel, whose CEO Paul Otellini is here
9 July 2011 Black Business News www.bbnews.org
see Small Business Agenda on page 10
How We’re Meeting the Job Creation Challenge By JEFF IMMELT AND KEN CHENAULT The President’s Jobs and Competitiveness Council, comprised of 26 private-sector leaders, is developing ideas that will accelerate job growth and improve America’s competitiveness The U.S. economy is resilient, but the inescapable truth is that we have a persistent jobs challenge that demands an aggressive response. That's why earlier this year President Obama asked 26 private-sector leaders to develop ideas that will accelerate job growth and improve America's competitiveness. The President's Jobs and Competitiveness Council is made up of industry leaders, people running large and small companies, and people standing up for the rights of workers.
Job Growth Government
from page 9
of workers ready to do the upgrades. Construction workers were hit harder than anybody by recession. Almost one in six construction workers are out of work. And that makes no sense at a time when we’ve got so much of America that needs to be rebuilt. So this is what led us to create what we’re calling the Better Buildings Initiative (www.whitehouse.gov/thepress-office/2011/02/03/presidentobama-s-plan-win-future-makingamerican-businesses-more-energy) -– putting people back to work doing the work that America needs done. Upgrading buildings for energy efficiency could save America’s businesses up to $40 billion a year on their utility bills. And obviously that $40 billion could be better spent growing and hiring new workers. It will boost manufacturing of energy-efficient products like those made here at Cree. It will put contractors and construction
We've been at work for the past 90 days to develop recommendations for a series of immediate, actionable steps to accelerate job creation. Today we are presenting an initial "progress report" to the president that includes a series of steps that can help spur hiring in the short term in areas like construction, manufacturing, health care and tourism. No single idea, however wellconceived, will solve our nation's employment challenge. So we're taking a comprehensive approach with eight teams focused on specific areas such as skills and training, regulatory reform, and innovation. We analyzed which actions are critical to accelerating job growth in high-potential sectors, while also addressing areas of concentrated unemployment. We believe that the workers back on the job. It is a winwin-win-win proposition. So today, the members of my job council updated me on their efforts to push this initiative in the private sector. And they’re working closely with a champion for this kind of energy innovation, President Bill Clinton, who I asked to co-lead the effort with them. With fifteen straight months of private sector job creation and seven straight quarters of growth we are moving in the right direction, but the President is not satisfied with the pace of job creation and we all agree that there is more that can be done to accelerate job growth. Additionally, the president acknowledged that these ideas aren’t solutions to every problem we face, but stressed that: Slowly, steadily, they’re helping us to move forward. We’re going to pursue these ideas and any good ideas that are out there, no matter where they come from. Because even though this is a big country with a great diversity of opinion -- as you discover when you’re
following "fast-action" steps can support the creation of more than one million jobs within these industries. • Train workers for today's open jobs. There are more than two million open jobs in the U.S., in part because employers can't find workers with the advanced manufacturing skills they need. The private sector must quickly form partnerships with community colleges, vocational schools and others to match career training with real-world hiring needs. • Streamline permitting. Cut red tape so job-creating construction and infrastructure projects can move forward. The administration can take a few simple steps to streamline the process of obtaining permits, without undercutting the protections that our regulatory system provides. • Boost jobs in travel and tourism. This industry is one of America's largest employers, but the U.S. has lost significant market share. By making it easier to visit the U.S. through improved visa processes, we see Jobs Creation on page 11
President -- we won’t agree with each other on everything, we can agree on some basic things. We can agree on educating our children and training our workers to be the best in the world. We should be able to agree on investing in the research and technology that leads to new ideas and new industries. We should be able to agree on developing clean energy and manufacturing jobs that come with it. It makes sense for us to rebuild our infrastructure and all the jobs that it can create. That’s what’s going to be required to grow our economy. That’s what it takes to help our people prosper. That’s how we’re going to get to the future that we dream about for our children and our grandchildren. You may find a summary of the ideas that were presented to the President and information about the Council at www. jobs-council.com. www.whitehouse.gov/blog/2011/06/13/presidentobama-presented-ideas-accelerate-job-growthand-america-s-competitiveness-
10 July 2011 Black Business News www.bbnews.org
Jobs Creation from page 11
can win back market share in travel and tourism and create hundreds of thousands of jobs. • Facilitate small-business loans. Help small-business owners obtain the information and support they need to access Small Business
step up to create good jobs and save energy. Our objective for this first set of recommendations was to identify areas where the private sector and the administration could accelerate job creation immediately without the need for major legislation from Congress or actions that would have a long runway. But it's not enough.
September. By year-end we also will have looked at and made recommendations on building and improving systems for national competitiveness, including R&D investment, tax policy, visa reform and high-skilled immigration, as well as applying business concepts (like the Lean Six Sigma approach) to regulatory processes. Some of
Administration funding. At Jobs Council town halls in Dayton and Minneapolis, small-business owners expressed frustration about the challenges in obtaining financing and assistance. We must move quickly to allow easier access to SBA funding. SBA Administrator Karen Mills is already tackling this challenge, and the administration should accelerate and prioritize these efforts. • Put construction workers back to work. More than two million construction workers don't have work. Every city in America has commercial buildings that can be made more energy efficient. Both the private and public sectors can
To truly bend the curve over the longer term, we need a more strategic view. Over the next 90 days, we will turn to addressing the actions needed to make a more significant, longer-term impact. This strategic approach will emphasize a number of areas for job growth. First, we need to focus on fastgrowth companies and small business. Second, we need to make America the most attractive place on Earth for high-tech services and manufacturing jobs and to accelerate foreign direct investment in the U.S. Finally, we need to address the competitiveness of America's infrastructure. The Jobs Council will deliver recommendations on these more strategic questions in
these ideas, by their nature, require bipartisan legislation and therefore may take longer to move forward, but they are all critical. America needs more growth. The United States needs to reverse trends that developed over a long period of time, and the solutions aren't easy politically, socially or economically. The economic decisions we make now will determine American job creation and competitiveness in the years to come. Government, business and labor need to work together to get this done. Mr. Immelt is the chairman and CEO of GE and chairman of the President's Jobs and Competitiveness Council. Mr. Chenault is the chairman and CEO of American Express Co.
11 July 2011 Black Business News www.bbnews.org
Government
Getty Images/Imagezoo
Fiscal Policy Challenges Chairman Ben S. Bernanke, Federal Reserve Board
Government
A
t about 9% of gross domestic product (GDP), The federal budget deficit is approximately nine (9) percent of the gross domestic product (GD), and has grown appreciably since the onset of the recent recession in December 2007. However, as the economy continues to expand and stimulus policies are phased out, the budget deficit should narrow over the next few years. Unfortunately, even after economic conditions have returned to normal, the nation faces a sizable structural budget gap. Both the Congressional Budget Office and the Committee for a Responsible Federal Budget project that the budget deficit will be almost 5 percent of GDP in fiscal year 2015, assuming that current budget policies are extended and the economy is then close to full employment. Of even greater concern is that longerrun projections that extrapolate current policies and make plausible assumptions about the future evolution of the economy show the structural budget gap increasing significantly further over time. For example, under the alternative fiscal scenario developed by the Congressional Budget Office, which assumes most current policies
are extended, the deficit is projected to be about 6-1/2 percent of GDP in 2020 and almost 13 percent of GDP in 2030. The ratio of outstanding federal debt to GDP, expected to be about 69% at the end of this fiscal year, would under that scenario rise to 87% in 2020 and 146% in 2030. One reason the debt is projected to increase so quickly is that the larger the debt outstanding, the greater the budgetary cost of making the required interest payments. This dynamic is clearly unsustainable. The nation’s long-term fiscal imbalances did not emerge overnight. To a significant extent, they are the result of an aging population and fastrising health-care costs, both of which have been predicted for decades. The Congressional Budget Office projects that net federal outlays for health-care entitlements--which were 5% of GDP in 2010--could rise to more than 8% of GDP by 2030. Over the longer term, rising federal debt will crowd out private capital formation, and thus reduces productivity growth. To the extent that increasing debt is financed by borrowing from abroad, a growing share of our future income would be devoted to interest payments on foreign-held federal debt. High levels of debt also impair the ability of policymakers to respond effectively to future economic shocks and other adverse events. Even the prospect of unsustainable deficits has costs, including an increased possibility of a sudden fiscal crisis. As we have seen in a number of countries recently, interest rates can soar quickly if investors lose confidence in the ability of a government to manage its fiscal policy.
Although historical experience and economic theory do not show the exact threshold at which the perceived risks associated with the U.S. public debt would increase markedly, we can be sure that, without corrective action, our fiscal trajectory is moving the nation ever closer to that point. Perhaps the most important thing for people to understand about the federal budget is that maintaining the status quo is not an option. Creditors will not lend to a government whose debt, relative to national income, is rising without limit; so, one way or the other, fiscal adjustments sufficient to stabilize the federal budget must occur at some point. These adjustments could take place through a careful and deliberative process that weighs priorities and gives individuals and firms adequate time to adjust to changes in government programs and tax policies. Or the needed fiscal adjustments could come as a rapid and much more painful response to a looming or actual fiscal crisis in an environment of rising interest rates, collapsing confidence and asset values, and a slowing economy. The choice is ours to make.
Achieving Fiscal Sustainability The primary long-term goal for federal budget policy must be achieving fiscal sustainability. A straightforward way to define fiscal sustainability is as a situation in which the ratio of federal debt to national income is stable or moving down over the longer term. This goal can be attained by bringing spending, excluding interest payments, roughly in line with revenues, or in other words, by approximately balancing the primary budget. Given the sharp run-up in debt over the past few years, it would be reasonable to plan for a period of primary budget surpluses, which would serve eventually to bring the ratio of debt to national income back toward pre-recession levels. Fiscal sustainability is a long-run concept. Achieving fiscal sustainability, therefore, requires a long-run plan, one that reduces deficits over an extended period and that, to the fullest extent possible, is credible, practical, and enforceable. In current circumstances,
12 July 2011 Black Business News www.bbnews.org
see Jobs Creation on page 13
Policy Challenges from page 12
Making Fiscal Plans It is easy to call for sustainable fiscal policies but much harder to deliver them. The issues are not simply technical; they are also closely tied to our values and priorities as a nation. It is little wonder that the debates have been so intense and progress so difficult to achieve. Recently, negotiations over our longrun fiscal policies have become tied to the issue of raising the statutory limit for federal debt. I fully understand the desire to use the debt limit deadline to force some necessary and difficult fiscal policy adjustments, but the debt limit is the wrong tool for that important
of the U.S. government to pay its bills. In raising this concern, I am by no means recommending delay or inaction in addressing the nation’s long-term fiscal challenges--quite the opposite. I urge the Congress and the Administration to work in good faith to quickly develop and implement a credible plan to achieve long-term sustainability. I hope, though, that such a plan can be achieved in the near term without resorting to brinksmanship or actions that would cast doubt on the creditworthiness of the United States. What would such a plan look like? Clear metrics are important, together with triggers or other mechanisms to establish the credibility of the plan. For example, policymakers could commit to enacting in the near term a clear and specific plan for stabilizing the ratio of debt to GDP within the next few years and then subsequently setting that ratio on a downward path. Indeed, such a trajectory for the ratio of debt to GDP is comparable to the one proposed by the National Commission on Fiscal Responsibility and Reform. To make the framework more explicit, the President and congressional leadership could agree on a definite timetable for reaching decisions about both shorterterm budget adjustments and longerterm changes. Fiscal policymakers could look now to find substantial savings in the 10-year budget window, enforced by well-designed budget rules, while simultaneously undertaking additional reforms to address the long-term sustainability of entitlement programs. Such a framework could include a commitment to make a down payment on fiscal consolidation by enacting legislation to reduce the structural deficit over the next several years.
Conclusion The task of developing and implementing sustainable fiscal policies is daunting, and it will involve many agonizing decisions and difficult tradeoffs. But meeting this challenge in a timely manner is crucial for our nation. History makes clear that failure to put our fiscal house in order will erode the vitality of our economy, reduce the standard of living in the United States, and increase the risk of economic and financial instability.
13 July 2011 Black Business News www.bbnews.org
Government
an advantage of taking a longerterm perspective in forming concrete plans for fiscal consolidation is that policymakers can avoid a sudden fiscal contraction that might put the still-fragile recovery at risk. At the same time, acting now to put in place a credible plan for reducing future deficits would not only enhance economic performance in the long run, but could also yield near-term benefits by leading to lower long-term interest rates and increased consumer and business confidence. While it is crucial to have a federal budget that is sustainable, our fiscal policies should also reflect the nation’s priorities by providing the conditions to support ongoing gains in living standards and by striving to be fair both to current and future generations. In addressing our long-term fiscal challenges, we should reform the government’s tax policies and spending priorities so that they not only reduce the deficit, but also enhance the longterm growth potential of our economy-for example, by increasing incentives to work and to save, by encouraging investment in the skills of our workforce, by stimulating private capital formation, by promoting research and development, and by providing necessary public infrastructure. We cannot reasonably expect to grow our way out of our fiscal imbalances, but a more productive economy will ease the tradeoffs that we face.
job. Failing to raise the debt ceiling in a timely way would be self-defeating if the objective is to chart a course toward a better fiscal situation for our nation. The current level of the debt and near-term borrowing needs reflect spending and revenue choices that have already been approved by the current and previous Congresses and Administrations of both political parties. Failing to raise the debt limit would require the federal government to delay or renege on payments for obligations already entered into. In particular, even a short suspension of payments on principal or interest on the Treasury’s debt obligations could cause severe disruptions in financial markets and the payments system, induce ratings downgrades of U.S. government debt, create fundamental doubts about the creditworthiness of the United States, and damage the special role of the dollar and Treasury securities in global markets in the longer term. Interest rates would likely rise, slowing the recovery and, perversely, worsening the deficit problem by increasing required interest payments on the debt for what might well be a protracted period. (www. federalreserve.gov/newsevents/ s p e e c h / b e r n a n k e 2 0 11 0 6 1 4 a . htm#fn3) Some have suggested that payments by the Treasury could be prioritized to meet principal and interest payments on debt outstanding, thus avoiding a technical default on federal debt. However, even if that were the case, given the current size of the deficit and the uneven time pattern of government receipts and payments, the Treasury would soon find it necessary to prioritize among and withhold critical disbursements, such as Social Security and Medicare payments and funds for the military. Moreover, while debt-related payments might be met in this scenario, the fact that many other government payments would be delayed could still create serious concerns about the safety of Treasury securities among financial market participants. The Hippocratic oath holds that, first, we should do no harm. In debating critical fiscal issues, we should avoid unnecessary actions or threats that risk shaking the confidence of investors in the ability and willingness
Historic Presidential Visit to Puerto Rico
Addressing status, economic development, job creation, education, health care and making Puerto Rico a model of clean energy
R
Government
ecently history was made not just because President Obama commemorated President John F. Kennedy’s visit to Puerto Rico 50 years ago, but because of the historic engagement this Administration has carried out with Puerto Rico. The visit wasn’t just a stop on the President’s
ecstatic Puerto Ricans waving Puerto Rican and American flags. There, the President addressed specific ways the Administration is working to ensure we address the most pressing challenges for Puerto Rico, saying: “First of all, we’ve addressed the question of political status. In March, a
“the difficult problems of education and housing and employment.” In that same spirit, we’ve been trying to make sure that every family on the island can find work and make a living and provide for their children. That’s why our economic plan and our health care reform included help for Puerto Rico. That’s why we’re increasing access to broadband and investing in education. That’s why we’re helping to grow local tourism and health care and cleanenergy industries. We’re giving Puerto Ricans the tools they need to build their own economic futures.” In addition, President Obama addressed the contributions of
President Barack Obama meets with Governor Luis Fortuno and Rep. Pedro Pierluisi in the Library at La Fortaleza, the official residence of the Governor of Puerto Rico, in San Juan, Puerto Rico. (Official White House Photo by Pete Souza) itinerary but rather an opportunity to highlight the federal government’s comprehensive approach to addressing critical issues that matter to the people of Puerto Rico including status, economic development, job creation, education, health care and making Puerto Rico a model of clean energy. After the President landed at Luis Muñoz Marin International Airport and when he stepped off Air Force One walked from the plane to an hanger where he was greeted by over 1,000
report from our presidential task force on Puerto Rican status provided a meaningful way forward on this question so that the residents of the island can determine their own future. And when the people of Puerto Rico make a clear decision, my administration will stand by you. I also know that there are plenty of other issues that the island is facing. When President Kennedy was here, he addressed the relationship between Washington and San Juan, and he also spoke about tackling what he called,
Boricuas (persons born in Puerto Rico) to American society – noting the contributions of people like Marc Anthony and JJ Barera, but also highlighting the Puerto Rican men and women who serve in our country’s uniform – specifically highlighting the stories of Juan Castillo and Chief Master Sergeant Ramon Colon-Lopez recently returned from Afghanistan. “I also want to take a moment to see Puerto Rico Tour
14 July 2011 Black Business News www.bbnews.org
on page 15
President Barack Obama talks with Puerto Rican Senator Alejandro Garcia Padilla during a lunch stop at Kasalta, a local restaurant in the Ocean Park neighborhood of San Juan, Puerto Rico. (Official White House Photo by Pete Souza)
Puerto Rico Tour from page 14
their lunch, S e n a t o r G a r c i a Padilla and the President ordered a Medianoche, a traditional sandwich made of roast ham, pork, mustard, swiss cheese, pickles served on sweet bread. So in all, while the President’s visit yesterday is one for the history books, it is really a signal of how this Administration sees Puerto Rico as a critical piece of where our country needs to go in order to win the future. Today, members of the President’s Administration stayed behind to lead an economic summit with Puerto Rican leaders to continue the dialogue about how the federal government can bolster the economic recovery of the island. Our work continues.
15 July 2011 Black Business News www.bbnews.org
by Stephanie Valencia is Associate Director of the Office of Public Engagement www.whitehouse.gov
Government
acknowledge all the Puerto Rican men and women who serve in our country’s uniform. One of those veterans is Juan Castillo. Juan fought in World War II, and he fought in the Korean War. Today, he’s two months away from his 101st birthday. Juan’s legacy is carried on by Puerto Ricans in Iraq and Afghanistan; men and women like Chief Master Sergeant Ramon ColonLopez, of the United States Air Force. In 2004, Ramon’steam was going after a high-value target in Afghanistan. His helicopter was seriously damaged by hostile fire. In the thick of battle, he didn’t know how large the force that he was up against. But he pressed on anyway, and his team killed or captured 12 enemy fighters. Because of his bravery, he was the first Hispanic American to be awarded the Air Force Combat Action Medal. (Applause.) And I tell this story because for decades, Puerto Ricans like Juan and Ramon have put themselves in harm’s way
for a simple reason: They want to protect the country that they love. Their willingness to serve, their willingness to sacrifice, is as American as apple pie –- or as Arroz con Gandules. The aspirations and the struggles on this island mirror those across America.” From there President Obama motorcaded thru the streets of San Juan where thousands of spectators lined the streets en route to La Fortaleza for a private tour and meeting with Governor Fortuño, First Lady Luce Vela and Resident Commissioner Pierluisi. La Fortaleza, a UNESCO heritage site, was built in 1533 and it is the oldest executive mansion in the western hemisphere. Following the tour the motorcade then navigated the narrow cobblestone streets of Old San Juan to the Ocean Park neighborhood of San Juan to La Kasalta Bakery. President Obama asked local Senator Alejandro Garcia Padilla to take him to a local spot where he could meet with the people of Puerto Rico and a get some local flavor. After shocking local patrons during
THE WHITE HOUSE PRESIDENTIAL EXECUTIVE ORDER ESTABLISHMENT OF THE SELECTUSA INITIATIVE ------By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to support private-sector job creation and enhance economic growth by encouraging and supporting business investment in the United States, it is hereby ordered as follows: Section 1. Policy. Business investment in the United States by both domestic and foreign firms, whether in the form of new equipment or facilities or the expansion of existing facilities, is a major engine of economic growth and job creation. In an era of global capital mobility, the United States faces increasing competition for retaining and attracting industries of the future and the jobs they create. My Administration is committed to enhancing the efforts of the United States to win the growing global competition for business investment by leveraging our advantages as the premier business location in the world.
Government
As a place to do business, the United States offers a hardworking, diverse, and educated workforce, strong protection of intellectual property rights, a predictable and transparent legal system, relatively low taxes, highly developed infrastructure, and access to the world’s most lucrative consumer market. We welcome both domestic and foreign businesses to invest across the broad spectrum of the U.S. market. The Federal Government lacks the centralized investment promotion infrastructure and resources to attract business investment that is often found in other industrialized countries. Currently, States and cities are competing against foreign governments to attract business investment. Our Nation needs to retain business investment and pursue and win new investment in the United States by better marketing our strengths, providing clear, complete, and consistent information, and removing unnecessary obstacles to investment. Section 2. SelectUSA Initiative. (a) Establishment. There is established the SelectUSA Initiative (Initiative), a Government-wide initiative to attract and retain investment in the American economy. The Initiative is to be housed in the Department of Commerce. The mission of this Initiative shall be to facilitate business investment in the United States in order to create jobs, spur economic growth, and promote American competitiveness. The Initiative will provide enhanced coordination of Federal activities in order to increase the impact of Federal resources that support both domestic and foreign investment in the United States. In providing assistance, the Initiative shall work to maximize impact on business investment, job creation, and economic growth. The Initiative shall work on behalf of the entire Nation and shall exercise strict neutrality with regard to specific locations within the United States. (b) Functions. (i) The Initiative shall coordinate outreach and engagement by the Federal Government to promote the United States as the premier location to operate a business. (ii) The Initiative shall serve as an ombudsman that facilitates the resolution of issues involving Federal programs or activities related to pending investments. (iii) The Initiative shall provide information to domestic and foreign firms on: the investment climate in the United States; Federal programs and incentives available to investors; and State and local economic development organizations. (iv) The Initiative shall report quarterly to the President through the National Economic Council, the Domestic Policy Council, and the National Security Staff, describing its outreach activities, requests for information received, and efforts to resolve issues.
www.SelectUSA.gov
(c) Administration. The Department of Commerce shall provide funding and administrative support for the Initiative through resources and staff assigned to work on the Initiative, to the extent permitted by law and within existing appropriations. The Secretary of Commerce shall designate a senior staff member as the Executive Director to lead the Initiative. The Executive Director shall coordinate activities both within the Department of Commerce and with other executive departments and agencies that have activities relating to business investment decisions.
(e) Department and Agency Participation. All executive departments and agencies that have activities relating to business investment decisions shall cooperate with the Initiative, as requested by the Initiative’s Executive Director, to support its objectives. Section 3. General Provisions. (a) Nothing in this order shall be construed to impair or otherwise affect: (i) authority granted by law to an executive department, agency, or the head thereof, or the status of that department or agency within the Federal Government; or (ii) functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals. (b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations. (c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
BARACK OBAMA
Government
(d) Federal Interagency Investment Working Group. (i) There is established the Federal Interagency Investment Working Group (Working Group), which will be convened and chaired by the Initiative’s Executive Director, in coordination with the Director of the National Economic Council. (ii) The Working Group shall consist of senior officials from the Departments of State, the Treasury, Defense, Justice, the Interior, Agriculture, Commerce, Labor, Veterans Affairs, Health and Human Services, Housing and Urban Development, Transportation, Energy, Education, and Homeland Security, the Environmental Protection Agency, the Small Business Administration, the Export-Import Bank of the United States, the Office of the United States Trade Representative, the Domestic Policy Council, the National Economic Council, the National Security Staff, the Office of Management and Budget, and the Council of Economic Advisers, as well as such additional executive departments, agencies, and offices as the Secretary of Commerce may designate. Senior officials shall be designated by and report to the Deputy Secretary or official at the equivalent level of their respective offices, departments, and agencies. (iii) The Working Group shall coordinate activities to promote business investment and respond to specific issues that affect business investment decisions. (iv) The Department of Commerce shall provide funding and administrative support for the Working Group to the extent permitted by law and within existing appropriations.
Publisher’s Message from page 3
the acquisition of existing businesses often is fueled by an array of financial instruments, including but not limited to equity capital, debt financing and stock swap. As illustrated in the May 2011 issue of the Black Business News (Eric Brown and Renee Cottrell-Brown’s acquisition of Johnson Products, May 2011 page 250) one of the major keys for success acquisition is access to investment capital. Facebook, Microsoft, Google and others grew as a result of equity infusion, not layers of debt. Knowing how to structure a deal financial is a critical element of the deal. The exist strategy is another. The acquisition of a business is only one part of the equation. The structuring of how and when to sell a business is often where dreams are made and reality takes hold. Take Berry Gordon of Motown Records. From borrowing $800 from a family member to start Motown Records, Berry Gordy sold his interest to MCA and Boston Ventures for $61 million dollars in 1988. Later, he sold most of his interests in the Jobete publishing concern to EMI Publishing. Another example is Robert “Bob” Johnson, founder of BET. Bob Johnson walked away with more than $3 billion when sold his interest to Viacom. Bob Johnson became the richest black person in the United States until surrendering the title to Oprah Winfrey (when then-wife Sheila Johnson claimed much of his billion in divorce). Not only is the acquisition of a existing business operation often less risky than starting a business from scratch, it also allows one to grow business exponentially as opposed to linear growth. The art of the deal is to know what to look for, what resources are available, and how to structure the deal.
the Small Business Administration (SBA) to license private “Small Business Investment Companies” (SBICs) to help with financing and managing small entrepreneurial businesses in the United States. Passage of the Act addressed concerns of many Black entrepreneurs of the lack of access to capital markets for long-term funding for growth-oriented small businesses. The passage of the Small Business Investment Act of 1958 by the federal government was an important incentive for prospective venture capital organizations as well. The act provided venture capital firms structured either as SBICs or Minority Enterprise Small Business Investment Companies (MESBICs) access to federal funds which could be leveraged at a ratio of up to 4:1 against privately raised investment funds. Minority En-
terprise Small Business Investment Companies were government-chartered venture firms that can invest only in companies that are at least 51 percent owned by members of a minority group or persons recognized by the rules that govern MESBICs to be “economically disadvantaged.” However, in 2005, in response to extensive losses incurred in connection with tech boom investments, the SBA decided to wind down its participating securities SBIC program, which had provided equity-like SBA backing for equity-oriented SBIC funds. But activity of SBIC program that provides both debt and equity has continued to grow. Some of SBIC’s success stories include FedEx, Costco, Amgen, AOL, and Jenny Craig. Please visit SBA website at www.sba.gov/about-offices-content/1/2890.
-- MESBICs -Critical components to the path of economic success for not only African Businesses, but all small and minority business enterprises is private equity and venture capital. This was a key element of the passage of the Small Business Investment Act of 1958. The 1958 Act officially allowed
19 July 2011 Black Business News www.bbnews.org
Minority Business Development Agency MBDA Assists Corporate America with Locating Minority Business Enterprises with Scale and Capacity
F
ord Motor Company announced recently (http://corporate.ford. com/news-center/news/pressreleases) that it had exceeded its supplier diversity sourcing goal, purchasing $4.1 billion in goods and services from minority-and women-owned companies.
Make Yourself Known Minority-owned suppliers with potential to be recommended to major corporate buyers may make themselves
David Hinson, National Director, MBDA The success of Ford’s supplier diversity efforts illustrates how valuable minority-owned business enterprises are to our country’s top companies and our economy overall. From heavy equipment to financial services, no matter what the demands of your supply chain are, there’s a minority-owned firm that can fulfill them. In fact, the number of high-quality minority-owned businesses spread across every sector of the economy totals 5.8 million. To better assist corporate America in locating minority business enterprises with scale and capacity, supplier diversity executives should put the Minority Business Development
known to and avail themselves of the services of the MBDA through the regional MBDA centers and offices
(www.mbda.gov/main/offices).
MBDA’s Business Centers MBDA and the centers serve minority entrepreneurs who are pursuing growth in size, scale and capacity. MBDA’s Business Centers can be found in the following regions: Atlanta, Chicago, Dallas, New York, and San Francisco. Atlanta Region: Atlanta National Enterprise Center, 401 W. Peachtree Street, Suite 1715, Atlanta, GA 30308, Telephone: 404-730-3300, E-mail: aroinfo@mbda.gov. Chicago Region: Chicago National Enterprise Center, 55 E. Monroe Street, Suite 2810, Chicago, IL 60603, Telephone: 312-353-0182, E-mail: croinfo@mbda.gov. Dallas Region: Dallas National Enterprise Center, 1100 Commerce Street, Room 726, Dallas, TX 75242, Telephone: 214-767-8001, E-mail: droinfo@mbda.gov. New York Region: New York National Enterprise Center, 26 Federal Plaza Room 3720, New York, NY 10278, Telephone: 212-264-3262, E-mail: nyro-info@mbda.gov. San Francisco Region: San Francisco National Enterprise Center, 221 Main Street, Room 1280, San Francisco, CA 94105, Telephone: 415-744-3001, E-mail: sfro-info@mbda.gov Los Angeles Regional Enterprise Center, Pasadena Office Tower, 50 South Los Robles Avenue, Suite 460, Pasadena, California 91101, Telephone: 626-768-1015. For more details on the resources MBDA has to offer your company and about MBDA go to www.mbda.gov.
21 July 2011 Black Business News www.bbnews.org
Government
Agency (MBDA), a bureau of the U.S. Department of Commerce, on speed dial. MBDA can help you find these firms and put you in contact with them so you can establish the kinds of profitable partnerships that more and more Fortune 500 companies are seeking out. In 2010, with the help of the MBDA network of business centers, MBDA helped the private sector secure more than $850 million in products and services from minority firms. So, leverage the growing power of U.S. minority-owned businesses as part of your winning strategy for the 21st century global economy. With the help of our MBDA Business Centers located throughout the country, we can match your company with a minorityowned supplier tailored to suit your needs.
Explore your universe with an Android OS and access to over 100,000 of the latest apps and widgets. Update your status, fill a shopping cart, upload videos and download files in a flash with your favorite Google services and Wi-Fi. Plus get unlimited nationwide talk, text, and MetroWEB access for only $60 a month including taxes and regulatory fees. And no annual contract. It’s the best deal in the galaxy. Only from MetroPCS.
No annual contract.
metropcs.com
4GLTE coverage and services not available everywhere. Handset not available on all rate plans. Handset not shown actual size. Screen images simulated. Visit metropcs.com or a MetroPCS store for information on specific Terms and Conditions of Service, coverage areas, handset capabilities and any applicable restrictions. Rates, services and features subject to change. Nationwide long distance available only to continental U.S. and Puerto Rico. Nationwide coverage and services not available everywhere. MetroPCS-related trademarks, service marks, and other intellectual property are the exclusive properties 17347_Ad of MetroPCS Wireless, Inc. All other marks are the properties of their respective owners. ©2011, MetroPCS Wireless, Inc.
SBA & Corporate Partners Offer Informational Videos Why Export? • • •
Karen G. Mills, Administrator Small Business Administration
I
Getting Started in Exporting • Why export? • Finding Your First Customer
Connecting with Foreign Buyers • Meet Your Customers – Traveling There • Identifying Marketing Channels/Activities • Understanding Partnerships and Distributors • Getting Your Product from Here to There • Providing Good Customer Service • Understanding Legal Considerations • Financing
Do you have questions? The SBA Community has answers (http://community.sba.gov). Discuss, share and get insight from your fellow business owners as well as industry and government experts. Find the information you need to start, grow and run your business.
Case Studies • ATC International • Nanmac • Omega Technologies • CA Wireless • The Produce Connection To view the series of videos link to the special website from the SBA website at www.sba.gov or go directly to the education site at www.inc.com/ exporting.
Locations: Downtown Culver City: 9537 Culver Blvd. 310-202-5453 City of Compton: 2600 E. Alondra Blvd. 310-638-7871 www.honeyskettle.com Open Sunday-Thursday 11am-10pm Friday-Saturday 11am-11pm
23 July 2011 Black Business News www.bbnews.org
Government
nc., AT&T and the U.S. Small Business Administration bring you video success stories from small business exporters and interviews with expert trade specialists. With 96 percent of the world’s customers living outside the U.S., small businesses that export are realizing increased sales and profit. Why not take your business global? The video titles include:
Knowing the Export Environment Marketing Strategies/Market Research Creating an Export Business Plan
T
OCC Issues Guidance To Banks Regarding Foreclosure Practices
The Office of the Comptroller of the Currency was created by Congress to charter national banks, to oversee a nationwide system of banking institutions, and to assure that national banks are safe and sound, competitive and
profitable, and capable of serving the banking needs of their customers in the best possible manner. OCC information is available at www.occ.gov. Other links of interest are: www.Helpwithmybank.gov and www.BankNet.gov.
25 July 2011 Black Business News www.bbnews.org
Government
he Office of the Comptroller of the Currency (OCC) has clarified expectations for the oversight and management of mortgage foreclosure activities by national banks. While the interagency reviews of 14 large mortgage servicers (www. occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47a.pdf) conducted in the fourth quarter of 2010 and subsequent enforcement actions (www.occ.gov/news-issuances/newsreleases/2011/nr-occ-2011-47.htm) address the majority of the mortgage servicing market, the guidance issued today is intended to ensure that all mortgage servicers under OCC supervision adhere to appropriate foreclosure management standards. OCC Bulletin 2011-29 stresses that banks engaged in mortgage servicing must ensure compliance with foreclosure laws, conduct foreclosures in a safe and sound manner, and establish responsible business practices that provide accountability and appropriate treatment of borrowers. The bulletin provides additional clarification on expectations regarding governance of foreclosure process to include adequate staffing and training, dual-track processing, management of affidavit and notary practices, documentation, oversight of third-party service providers, and adherence to all laws and regulations related to mortgage foreclosure. The bulletin also directs all national banks to conduct a self-assessment of foreclosure management practices no later than September 30, 2011 and correct any weaknesses identified. National bank examiners will review the self-assessments and corrective actions in the next quarterly review or examination of the bank. Review Bulletin OCC 2011-29 at www.occ.gov/news-issuances/bulletins/2011/bulletin-2011-29.html and Interagency Review of Foreclosure Policies and Practices at www.occ. gov/news-issuances/news-releases/2011/nr-occ-2011-47a.pdf.
RESOURCES FOR GOING GLOBAL
Business
Below are upcoming U.S. Commercial Service initiatives designed to connect you to business opportunities around the world. Please read the article to learn more about each opportunity and find contact information. 1. Webinar: Doing Business in Turkey 2. Webinar: Taking American SMEs Global With Google 3. Event: Business Development Mission to Peru and Chile 4. Watch Videos on some of the National Export Initiative Priority Markets 5. Commercial News USA Offers Free Korean Translation 6. Sell Your Products Worldwide in the USA Product Showcase 7. Promote Your Company on the New Commercial News USA Website If you have any questions about these initiatives, please contact your local U.S. Commercial Service trade specialist. To find the trade specialist nearest you please visit www.buyusa.gov/ home/us.html. ᏊᏊᏊᏊᏊ 1. Webinar: Doing Business in Turkey Venue: Your Computer Date: July 14, 2011 Time: 11:00 AM est Learn more/register: https://emenuapps.ita.doc.gov/ePublic/newWebinarRegistration.jsp?SmartCode=1Q9J The U.S. Export Assistance Center in Baltimore, MD will host this webinar on short and medium-term export sales opportunities in Turkey, focusing on the renewable energy and energy efficiency sectors – an industry poised for sharp growth in the coming years and
with major opportunities for American export sales. Access one of the world’s dynamic markets – with a special presentation by U.S. Ambassador to Turkey Francis J. Ricciardone (TBC) and a presentation by Commercial Counselor, Michael Lally, U.S. Embassy Commercial Service Ankara, Turkey. Turkey’s rapidly expanding economy, the growing purchasing power of industry and consumers, and its effort to join the European Union have attracted the increasing attention of American exporters. The Webinar will feature a brief overview of the Turkish commercial environment, a review of hot sectors in Turkey, and a focus on specific short and medium-term business opportunities in the renewable and energy efficiency sectors. The webinar will also cover specific case studies in successful U.S.-Turkish energy business partnerships. Participants will be able to ask live questions of U.S. Commercial Service staff during the webinar. In addition, U.S. Commercial Service staff in Turkey will highlight a U.S. Department of Commerce Executive-Led Renewable Energy and Energy Efficiency Trade Mission to Ankara, Istanbul, and Izmir, Turkey, to occur later this year. For more information please visit www.buyusa.gov/fresno/105.html, or contact: Steve.Morrison@trade.gov, telephone: 410-962-4576, Paul.Matino@trade.gov, telephone: 410-9624581, Glen.Roberts@trade.gov, telephone: 661-637-0136. 2. Webinar: Taking American SMEs Global With Google Venue: Your Computer Date: July 19, 2011 Time: 10:00 am PST/1:00 pm EST Learn more/register: https://emenuapps.ita.doc.gov/ePublic/newWebinar-
Registration.jsp?SmartCode=1Q9T Google Directors Alan Moss and Aliza Knox will present this one hour free webinar on the web tools that are available to help American small businesses expand internationally. During this webinar, you will hear just how big the global online opportunity is for your company and discover how Google clients have significantly expanded their businesses by selling to the world. You will learn how to use innovative tools, such as Google Global Market Finder which uses data from Internet searches conducted around the world to show the number of times people search for your keywords in Arabic, Chinese, English, or one of 56 languages; Google Translate Web Element which can translate webpages (or parts thereof) to help foreign customers navigate your site; Translator Toolkit , an online tool that allows you to potentially reduce your translation costs and lag times by providing an automatic machine translation of your website as well as allowing you to share your files through a web portal. Finally, you will learn how you can leverage Google AdWords to take your business global with a few clicks of a button. 3. Event: Business Development Mission to Peru and Chile Date: August 21-27, 2011 Learn more/register: http://www. buyusa.gov/neworleans/78.html Registration Deadline: June 24, 2011 Discover the opportunities that exist in these two vibrant marketplaces. This U.S. Department of Commerce Certified Business Development Trade Mission to Peru and Chile organized by
28 July 2011 Black Business News www.bbnews.org
see page 29
Going Global from page 28
4. Event: Watch Videos on some of the National Export Initiative Priority Markets Watch videos on these markets to discover why they are important and to learn about a few of the many sectors where U.S. companies are competitive. 58 percent of U.S. exporters export to only one market, mainly Canada. Many small and midsized companies that work with the U.S. Commercial Service have found new customers in dozens of markets. Among the best prospect markets for U.S. companies are Vietnam, India, Indonesia, China, Taiwan and Thailand. From these short videos,
5. Activity: Commercial News USA Offers Free Korean Translation Commercial News USA, the official export promotion magazine of the U.S. Department of Commerce, offers exporters an inexpensive way to promote their products and services in 178 countries worldwide. Now, you can take advantage of a special offer: Buy two ads and get the third ad for free (Based on one-time rates. This does not include the Showcase section). Moreover, advertisers in the September-October issue will receive a free listing ad online in Korean. Commercial News USA reaches more than a quarter-million buyers worldwide. Reserve your space in the next issue today. For more information, call 1-800-581-8533, x 822, or visit www.thinkglobal.us, or e-mail advertise@thinkglobal.us. 6. Marketing: Sell Your Products Worldwide in the USA Product Showcase Commercial News USA, the official export promotion magazine of the U.S. Department of Commerce, offers exporters an affordable way to promote their products and services in 178 countries worldwide. Now, you can advertise in the USA Product Showcase section of the magazine for just $499. Commercial News USA reaches more than a quarter million buyers worldwide. Reserve your space in the next issue today. For more information, call
1-800-581-8533, x 822, go online to www.thinkglobal.us/499, or send e-mail to advertise@thinkglobal.us. 7. Marketing: Promote Your Company on the New Commercial News USA Website The newly redesigned Commercial News USA website makes it easier for buyers around the world to find American companies with products and services ready for immediate export. Commercial News USA features hundreds of products and services from U.S. exporters. Participants in the current issue of the magazine are featured in a rotating carousel at the top of the page. Now, international buyers can search the site by company name or industry category. There also is a search box at the top of the page that enables searching by keyword. The site currently attracts 23,000 international buyers per month. Advertisers in the print magazine are included for free on the website. For more information and/or to review the current issue of the magazine, please visit www.thinkglobal.us. ᏊᏊᏊᏊᏊ The U.S. Commercial Service - Your Global Business Partner. With offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce’s International Trade Administration uses its global Network and international resources to connect U.S companies with international buyers worldwide. If you have any questions about these initiatives, please contact your local U.S. Commercial Service trade specialist. To find the trade specialist nearest you please visit www.buyusa. gov/home/us.html or contact Bobby Hines at bobby.hines@trade.gov.
29 July 2011 Black Business News www.bbnews.org
Business
LeCentre International will provide an excellent opportunity for U.S. firms to initiate or expand their business and exports into the Peruvian and Chilean markets by providing business-tobusiness introductions, meetings and networking with selected foreign participants as well as extensive market access information. Best prospects for U.S. exports to Peru and Chile include: Mining equipment, oil and gas equipment and services, marine, environmental, construction equipment, transportation, industrial and electrical machinery, pumps, valves and compressors, refined petroleum products, plastics, computers and telecommunications equipment, Electric power, power generation and transmission, renewable energy equipment, Construction equipment, Machinery and Supplies, Mining Equipment, Pollution Control Equipment, Water resources equipment and technologies, water and wastewater treatment equipment and technologies, engineering, and consulting services, Desalination equipment/ technologies, Healthcare and Medical Equipment; Computer Hardware and Software; Food Processing and Packaging; Travel and Tourism, Franchising, Consumer oriented products for retail. All U.S. companies are encouraged to apply. For more information, please contact: Delilah.DeSouza@ trade.gov; nyamusi.igambi@trade.gov; or PGustin@lafayettela.gov.
you’ll learn why these markets are important. You’ll also learn about a few of the many sectors where U.S. companies are competitive. Importantly, you’ll also meet the top U.S. commercial diplomats in these markets who, along with their staff of local market and industry experts, will help you evaluate, enter and succeed. Please visit http:// export.gov/nei/eg_main_033266.asp
If You are African American and Suffered Farm Loan Discrimination by the USDA Between 1981 and 1996, You may be eligible for money from a $1.25 billion class action Settlement Fund (Heirs/Kin may be included)
Business
There is a proposed class action Settlement with the U.S. Department of Agriculture (USDA) involving racial discrimination against African American farmers between 1981 and 1996. This Settlement is only for certain people who tried to file a late claim in the original Pigford case, or their heirs (kin) and legal representatives. The current Settlement (sometimes called Pigford II) provides benefits in some of those late filers.
received a payment in the original Pigford case. What does the Settlement provide? You may be eligible for a substantial cash payment and USDA loan forgiveness from the Settlement. You will need to file a claim to be eligible for these benefits. The claims deadline may be as early as February 28, 2012. The Court has appointed lawyers to help you file a claim under the Settlement. You do not have to pay them or anyone else to help you with the claims process.These attorneys will ask the Court for fees and expenses of between 4.1% and 7.4% of the Settlement Fund, and the Court will decide how much they are paid. You may hire your own lawyer, if you wish, at your own expense. If you have questions or need more information, call 1-877-810-8110.
Am I Included? You may be included if you: • Between 1981 and 1996, were discouraged or prevented from applying for or were denied a USDA farm loan or other benefit, or you were given a loan with unfair terms because of racial discrimination, • Were eligible for a payment in the original Pigford case, and • Submitted a late-filing request that was What else should I know? denied or never considered because it was The Court will hold a hearing on September late. 1, 2011 to consider whether to approve the Settlement and a request for attorney’s fees If you are the heir or kin of someone who and expenses. If you want to object to or died who fits this description, you may file a comment on the Settlement or appear at the claim for a payment that would become part hearing, you need to file a letter with the Court of the deceased person’s estate. If you are not by August 12, 2011. If the Court approves sure if you (or someone for whom you are the the Settlement, you will not be able to sue legal representative) are included, please call the USDA about your farm loan discrimination 1-877-810-8110. You are not included if you claims in the future.
For more information or to begin the claims filing process: Call: 1-877-810-8110 Visit: www.BlackFarmerCase.com 30 July 2011 Black Business News www.bbnews.org
Search for 50 Startups with High-Growth Potential Begins with Launch of 2011 Startup Open Competition Promising young companies with a ‘startup moment’ can vie for recognition and prizes announced during Global Entrepreneurship Week second year, is open to entrepreneurs who have a “startup moment” between GEW 2010 and GEW 2011 (Nov. 22, 2010 to Nov. 20, 2011). A startup moment is defined as any action related to launching a new business, such as incorporating a company; officially opening the doors for business; completing a first sale; or securing outside funding. Startup Open applicants will be judged on concept, growth projections and knowledge of their industry. A handful of companies winning the top honors and prizes will be announced on Nov. 14 as GEW 2011 gets underway. The Startup Open 2010 grand prize winner received a trip to Richard Branson‘s privately owned Necker Island. Winner Olivier Ceberio, founder of Resolute Marine Energy (RME) in Boston, MA, recently returned from his trip, where he took part in multiple networking sessions with Branson and other successful entrepreneurs. Additional activities included a sailboat race with Branson and a trip around the island in the “Necker Belle” catamaran.
31 July 2011 Black Business News www.bbnews.org
Business
S
tartup Open, a competition that recognizes startups with highgrowth potential, has launched its search for the 50 most promising new startups around the world as part of Global Entrepreneurship Week (GEW) 2011. The “GEW 50” will be announced on October 15, 2011, with those companies then competing for the top honors and prizes. “Economic growth and job creation is directly tied to young businesses with the potential to become part of tomorrow ‘s Fortune 500, so recognizing and rewarding those most promising startups on the path to success may inspire others to follow their examples,” said Carl Schramm, president and chief executive officer of the Kauffman Foundation. Startup Open is a featured competition of GEW (www. unleashingideas.org), an initiative founded by the Kauffman Foundation to spur new ideas, ingenuity and firm creation through local, national and global activities in more than 100 countries. The competition, now in its
Ceberio won the top prize at GEW 2010 for his RME plan to develop wave energy converters that generate clean energy from ocean waves. The goal of RME is to aid the 1.2 billion people worldwide who lack access to safe drinking water. “During my stay in Necker Island, I had the opportunity to learn from and exchange ideas with some the brightest and most inspiring entrepreneurs in the world,” said Ceberio. “I am very grateful to the Kauffman Foundation for providing me with this invaluable experience that will help expand my network as I improve and grow my business.” Last year‘s second and third places winners received two days of mentoring at Kauffman Labs for Enterprise Creation, a Kauffman Foundation program. Entrepreneurs Stas Samarin of PulmoCAD, LLC in St. Louis and Kahoru Watanabe of Wing Power Inc in Sarasota, FL, had the opportunity to hear new ideas and feedback on how to improve their business models from every angle. Startup Open applicants will have until September 15, 2011 to submit their startup moment. For more information on how to enter and the 2010 winners, please visit www.startupopen.com. For more information, visit www. unleashingideas.org, and follow @ unleashingideas on Twitter.
Business | Technology | Green | Health Expo
SAVE THE DATE August 12, 13 & 14, 2011 Los Angeles Convention Center This is an OurWeekly/Urban Media Foundation event
Join us for Business Workshops, Job Fair, Jr. Business Camp, Celebrity Fashion Show, Gospel Show, Healthier You Competition, Celebrity Chefs, Food Demonstrations, LA-Live VIP Mixer, and much more!
Search for West Coast Expo on Facebook
$5 in advance, $7 at the door Exhibit space available. Reserve you booth before March 31 and mention this ad to receive 10% off. Call today (323) 905-1306
www.westcoastexpo.biz
PRESENTING SPONSORS
5 Must-Have Tech Tools for the Organized Entrepreneur by Brandie Kajino for startupnation.com
M
y mind runs faster than my fingers can carry me. I have a thousand ideas, a full calendar (life, business, volunteer work) and a task list that keeps me on my toes. If you’re an entrepreneur, this might sound vaguely familiar. I, like my clients, need technology to step in and help me keep things straight. Essential tools? Let me tell you a few of my favorites. Why do we need these things? Allow me to elaborate:
Business
Smartphone A smartphone is my virtual assistant, right in my pocket. I can be reached when it’s necessary, and screen calls when I’m occupied. My phone fits in my bag or pocket, and it’s always handy when I need to take a note, shoot off a quick email or phone call. It’s a convenience that, to me, is indispensable for an onthe-go entrepreneur.
Backup If you’re not backing up your laptop or desktop, you’re baiting disaster (and possibly a mental breakdown.) A few days ago, I started up my computer, and got the “blue screen of death” (ok, it was gray, but you know what I mean). Something was amiss with my beloved laptop workhorse. I went through the motions, and as
it was processing the “fix it” mode, I started to think. “What if it doesn’t come back up? What if I fried it? What if a small bug got in there and died right on my hard drive, messing it up for all eternity? What if....” Then, I remembered, I have backup. I subscribed to this service two years ago. It works in the background, saving everything I make or modify in my laptop memory. So, what would happen if my laptop went belly up? I would get it fixed or replace it, and restore my files with a few clicks of my (new) mouse. Why do you need backup? Why wouldn’t you?
Password Manager I bet you have more than a handful of passwords. I’ll be honest, I die a little inside when someone says to me, “Oh, I remember my password: it’s all the same...” Wait. Did you really just say that? Say it with me: “Having the same password for everything is an invitation to the ‘bad guys’ to take over.” It’s a bad idea, K? If keeping track of a list of passwords seems daunting (and an index card isn’t cutting it), let me put your mind at ease. Get yourself a good password manager (some of them even generate tricky passwords) and rest easy. My favorite has a password protecting my password list.
Idea Catcher Some like a notebook, which is all well and fine. Problem for me is, I don’t always have that notebook on my person when a good idea hits. Keeping a program that works between your smartphone (see above), desktop/ laptop and online is a sneaky little way to catch those ideas before they vacate the inner chambers of the mind. Get them out of your head and capture
them in a medium allowing you to get at them at a later date.
Contact Manager I fought this one for a while. I knew I needed to keep up with clients, contacts and other important people, but I couldn’t find a solution that was “right sized” for my business. I did some research, and found a great service that fit my needs. Why do you need a contact manager? I’ve been able to keep tabs on clients, follow up when I said I would, and close more sales. It’s all those good intentions and information I had floating around in a few different places. Now, that information is working for me.
Tech Tools Part II
I
love to organize things. It’s how I started my business (Professional Organizer), before I decided I’m all about tech consulting for entrepreneurs. I’m also an entrepreneur, and a woman, which means life is insanely crazy at times. I counteract that by keeping things as organized as I can stand without being obsessive (most of the time). And so I now get to combine two areas that I’m most passionate about: technology and staying uberorganized! This article is Part II to the article “5 Must-Have Tech Tools for the Organized Entrepreneur (Part I)”, because there have been questions about WHICH specific tools and brands to use. This follow-up article presents you with my hands-down favorite choices for these five must-have tech tools for entrepreneurs. Could you live without them? Sure, but I don’t recommend that - to my clients or you. (Note: I’ve given a couple options within each category, so that you can choose the
34 July 2011 Black Business News www.bbnews.org
see Tech Tools on page 35
Tech Tools tool that best matches your particular needs.) Here’s the list of tech tool all-stars for organized entrepreneurs:
download all my files. I don’t have to think or worry to much to get back up and running. I like that. Another option: Mozy is also a fantastic, super easy-to-use backup service. Bonus: You can backup two computers for one subscription. Nice.
Smartphone
Password Manager
from page 34
My fave: Yes, I took a bite out of the round fruit, and I have an iPhone. I chose it because it was easy to use, and a friend (also an entrepreneur) raved about hers. I played with it a bit, and well, I decided it was the tool for me. It’s simple to use, there are lots of apps for this curious techie girl, and I feel I can manage just about anything wherever I am. And with my stylin’ case, it doesn’t look too shabby either. Another option: If I didn’t have this phone, I’d go with a Droid. The physical keyboard, and growing number of apps
Tech Tool Recommendations…
integrate with other tools. Sayonara neglected spreadsheet of follow-ups. Bonus: It works with Google Apps. Another option: Salesforce is a classic, or ZOHO CRM for a lower priced (or free) option.
Source: http://www.startupnation.com/ business-articles/9654/1/tech-toolsentrepreneuer-5.htm Source: http://www.startupnation.com/ business-articles/9663/1/tech-toolsorganized-entrepreneur-part2.htm
My fave: I use SplashID, and have for a couple years. SplashID has a password that protects all your other passwords, so I only have to remember one. Very nice, but make sure you choose one that is not your dog’s name, or your address, or something else that’s easy to figure out. Also, if Bad Guy tries to login, he better be smart, because he has ten tries and then he’s locked out. Take that! Another option: There are many. RoboForm and 1Password are good choices, and just like SplashID, they do “auto-fill”, meaning a couple clicks and you are logged in. (Make SURE you password protect your laptop if you use it though!)
City of Los Angeles Business Inclusion Program
Idea Catcher My fave: Evernote is my handsdown favorite. I’m a convert, because in the beginning, Evernote’s simplicity was a challenge for me. So, if you decide to use Evernote, it’s a software you can use on your computer or mobile phone, and keep text notes, pictures and audios tagged and grouped in notebooks. Search, email and share to your heart’s content, or keep them all to yourself. Apply your personality and flair from there. Good-bye (unsearchable) piles of sticky notes! Another option: One Note, which is quite similar.
Contact Manager
make this set of smartphones a solid choice for entrepreneurs.
Backup My fave: I use and recommend Carbonite. All you do is subscribe, download a little piece of software, and all your files are backed up in real time. The backup is also stored remotely, which means if Bad Guy decides to be uncool and swipe my laptop, I don’t lose all my files. Get the new machine,
My fave: BatchBook by BatchBlue. I looked all over to find a CRM to keep in touch with clients, leads, and referral partners. There’s no shortage of big players in this area. There’s also no shortage of big price tags. I didn’t need to have 40 users, it was just me and maybe an occasional assistant. BatchBook does everything I need it to: keep track of who I talked to, where we met, when I last talked to them, what we talked about and when I needed to call them again. It also does some other things like run reports, print labels and
The City of Los Angeles is striving to increase the participation of small, emerging, veteran, women and minority-owned businesses in City contracts. All City departments utilize the City’s electronic marketplace, Los Angeles Business Assistance Virtual Network (www.labavn.org), to post all opportunities subject to advertising. We encourage business owners to register on www.labavn.org to receive notifications of contracting opportunities as well as updates on implementing the program. Visit www.losangelesworks. org for additional information regarding doing business in and with the City of Los Angeles. Mayor’s Office of Economic & Business Policy
35 July 2011 Black Business News www.bbnews.org
Business
iPhone Droid Carbonite Mozy SplashID RoboForm 1Password Evernote One Note BatchBook Salesforce ZOHO CRM
Editorial Earl “Skip” Cooper, II
AT&T’s Acquisition of T-Mobile
O
n behalf of the Black Business Association (BBA), one of the oldest African American business organizations in the United States, its 1,000 members, and its board of directors, we support AT&T’s acquisition of T-Mobile. The BBA, a 501(c(3)non-profit organization, headquartered in Los Angeles, is optimistic that the proposed acquisition by AT&T’s will truly be beneficial not only for Black businesses, but all small and minority business enterprises. We are hopeful that this acquisition will also further advance increased access to affordable and sustainable wireless broadband services and in turn stimulate job and business creation throughout our country. Since 1970, when the BBA was formed, it has been an advocate for economic development and business creation for not only African American businesses, but all small and minority businesses throughout the country. In this global competitive economy, the acquisition could not only provide small and minority businesses greater access to wider array of communication services, but also provide same level of technology to many of our communities of color that other nations provide their citizens. The U.S. ranks 15th in the world in broadband adoption. Additionally, it ranks 25th in the world in average Internet connection. The statistics are dramatically appalling for our communities of colors. While we once led the world in the development of Internet technology, we are facing a digital dividend amongst our own citizens. Based on AT&T’s commitment to expand its high speed wireless technology coverage to roughly 95% of the U.S. population, including rural and smaller communities, this acquisition has the tremendous potential of dramatically reducing the economic
and technological barriers, as well as this growing digital gap that exist in under-served rural and low-income urban areas. Not only does this business acquisition represents a real opportunity to accelerate deployment of number of communications sectors, but also create new jobs and business opportunities for African American businesses. T-Mobile would augment AT&T’s product and service offering with small and minority firms. This is particular true for smaller firms that rely heavily on cell phone carriers for their business operations. This will create new business opportunities in assisting AT&T in reaching the small and
minority business marketplace for such services and products as marketing, logistics, transportation, staffing and recruitment. Special attention should be paid to the fact that with this acquisition AT&T may become the largest player for small and minority businesses. Based on a number of reports, currently AT&T is the No. 2 player among small businesses with 28% of the market share, while Verizon Wireless is No. 1 with 32% market share, Sprint Nextel is No. 3 with 12% and T-Mobile is No. 4 with eight percent. In short, this acquisition has enormous upside potential for AT&T in the small and minority market. Wireless broadband is an integral tool in promoting business collaboration and networking, as well as communications and product delivery. Communications, specifically wireless high speed is crucial to for small business development.
36 July 2011 Black Business News www.bbnews.org
Gil Scott-Heron: 1949-2011
A
s he turned 60, the American author, poet, and musician was once again thrust into the public eye as he released his solo recording, I’m New Here, and follow-up remix album. Remembered for his poetry set to melodic jazz and soulful protest songs in the 1960s and 70s, he was an unmistakable influence on an emerging generation of rappers and hip hop artists. Yet he was quick to reject some of the more grandiose epithets such as the “Godfather of rap” and “the black Bob Dylan”. ‘Fierce intelligence’ It was typical of the discerning, lanky artist who shunned the limelight. “He had a fierce intelligence and a way with words which was untouchable; an incredible sense of humour and a gentleness and humanity that was unique to him,” said Richard Russell, the head of XL Records who signed him and produced his last album. The artist’s father, Gil Heron, was known as “the Black Arrow” at Celtic “Gil shunned all the trappings of fame and success. He could have had all those things. But he was greater than that. He seemed wholly uninterested in money.” Born in 1949, Scott-Heron was the son of a Jamaican footballer who was the first black man to play for Glasgow Celtic. He was raised by his mother and grandmother in Jackson, Tennessee, where he discovered the verse of the
black poet Langston Hughes whilst at college - an obvious early influence. In an interview with BBC 6 Music last year, Scott-Heron recalled: “My grandmother bought a piano for about $8, I think it was. I began to listen to the radio and try to pick out what they were playing by ear. “There were a lot of blues progressions that I was able to give some life to on the piano, there, and I enjoyed it very much.” In 1968, aged 19, he wrote his most famous work, The Revolution Will Not Be Televised, a satirical spoken-word piece released on Small Talk at 125th by a small label two years later. A kind of oral blog from the projects, it became a phrase which would enter the language and lead on to pop music about the inequities of apartheid. Other songs addressed poverty and racism as well as contemporary issues such as nuclear power (We Almost Lost Detroit) and celebrity (Show Bizness). By 23, he had published two novels and a book of poems and recorded three albums. He also successfully campaigned alongside fellow artists Stevie Wonder and Bob Marley for a US public holiday to be named in honour of civil rights campaigner Martin Luther King. Public Enemy’s Chuck D said: “Gil Scott-Heron was one of the foundations that rappers could perform themselves off of.
“I think a lot of it happened with the word, the meaning and the definition - or the redefinition - of the words he used, but also the pacing. “Mr. Heron delivered his words with a feeling and with a rhythm that was a great basis for rap. It was a fundamental start for rap to trigger itself from.” Scott-Heron’s repertoire included tracks about addiction such as Down Some Dead-end Street There Ain’t No Turning Back and The Bottle, which mirrored his own struggle. In 2001, he was jailed in New York State for cocaine possession and in 2006 for violating a plea deal on a drug-possession charge by leaving a rehabilitation clinic. It was while he was doing time that Scott-Heron received a visit from Richard Russell, who guided him into the studio for his comeback album. Russell said in a tribute on his blog: “To my knowledge he never accepted an award. He always wanted everyone else to receive credit for their work. “He is the only artist I’ve ever worked with who requested that the studio engineer’s photo be given equal prominence to his own on his website. “Gil meant a massive amount to me, as he did to so many people. His talent was immense. He was a master lyricist, singer, orator, and keyboard player. “His spirit was immense. He channeled something that people derived huge benefit from.”
37 July 2011 Black Business News www.bbnews.org
Mobile Kills the Website by Samuel Greengard
C
hange at warp speed has become a given. The business cards I printed two years ago aren’t any good because they don’t include a QR barcode. The CRM
ANDRO
ID LOG
Business
QR Barcode system you put in place three years ago requires an upgrade in order to accommodate social networking and mobile connectivity. And rapid change ripples out and affects businesses in unanticipated ways. Nowhere is this more apparent than in the mobility arena. Market research firm In-Stat reports that the Internet was the number one desired cellphone application in 2010. Users want GPS capabilities, location-based services, video and an array of other goodies. The ripple? Many business and IT executives are trapped in a 2002 time warp and they aren’t responding. That spectacular website you created? You still need it, but it may not be reaching the audience you need to reach. For example, Millennials, who live almost exclusively on their smartphones, may rarely, if ever, use a computer. If your site isn’t optimized for a smartphone or you don’t have a custom app available you may be out of luck...and out of a customer. The e-brochure or video clip you offer at your website? It may prove useless
O
to anyone who can’t download it onto a smartphone or tablet. It’s amazing how many businesses lack dedicated mobile apps, or operate sites that aren’t optimized for mobile browsers and easy data entry. I
a mobile app just doesn’t cut it. Several major airlines, retail giants and others still haven’t introduced smartphone apps. C’mon, this is 2011! News bulletin: both the iPhone and Android operating systems have been around since 2007! Waddle at your own risk. All while your brand name takes a hit and smarter and swifter competitors eat your lunch. Heck, I’ve gotten to the point where it’s so easy to buy items on Amazon that I constantly add them on my iPhone and
order them later or when I’m back at a computer. This used to be someone else’s sale. Who would have thought that Websites would be passé in just over 15 years? Welcome to the new reality: if you’re standing still you’re actually moving backwards.
iPhone understand the need to get things right. But taking months or years to develop
SOURCE: www.baselinemag.com/ c/a/IT-Management/Top-IT-GroupsLeave-Rivals-In-Dust-646801/?kc=BL BLBEMNL05192011STR3Phone
38 July 2011 Black Business News www.bbnews.org
Meetings are a $263 Billion Industry
Landmark survey gives statistics to the value of face time
T
he U.S. meetings industry directly supports 1.7 million jobs, represents $263 billion in spending and contributes $106 billion to the GDP annually, according to a landmark study released on Feb. 17, conducted by PwC US and spearheaded by an alliance of 14 meetings industry associations. “The Economic Significance of Meetings to the U.S. Economy” is a quantitative analysis of face-to-face meetings. Among primary supporters of the effort, under the umbrella of the Convention Industry Council, were the Meeting Professionals International Foundation, the Professional Convention Management Association/Education Foundation, the Association of Destination Management Executives and the U.S. Travel Association. Findings were based on 3,510 surveys, with questions based on 2009 figures. Of respondents, 2,700 were meeting organizers; venue managers, exhibitors and destination marketing representatives make up the rest of the sample. For the study, meetings were defined as gatherings of 10 or more participants for a minimum of four hours in a contracted venue. Among findings: Of the $263 billion in overall spending, $151 billion was related to the cost of planning and producing meetings, while another $113 billion was spent in related travel and tourism.
•
The meetings industry’s direct contribution to the U.S. GDP in 2009 was $106 billion, more than that of auto manufacturing ($78 billion).
•
In supporting 1.7 million jobs, the meetings industry employs more people than the combined truck and rail transportation industries
Also, 1.7M U.S. jobs are directly supported by the meetings industry, more than the following U.S. industries, among many others: broadcasting and telecommunications (1.3M), the combined truck and rail transportation industries (1.5M) and computer systems design and related services (1.4M).
Business
•
From the Editors: Here are some more figures from the report: The meetings industry’s direct contributions to the U.S. GDP are $106B. This direct contribution to the U.S. GDP is more than the following U.S. industries: auto manufacturing ($78B), performing arts/spectator sports/museums ($71B) and information and data processing services ($76B).
(1.5 million jobs) and computer systems design and related services (1.4 million). Meetings employment generated $60 billion in labor income in 2009. •
The industry generated $14.3 billion in federal tax revenue and $11.3 billion in state and local tax revenue in 2009.
•
A total of 1.8 million meetings held in 2009 were attended by 205 million people.
•
Delegates, exhibitors and others spent $145 billion to participate in meetings in 2009. The majority of that spend (46 percent) was on registration fees.
“We cannot be in the same place we were two years ago, when nobody understood the value this industry brings to cities, states, the country and the world,” noted Deborah Sexton, president and CEO of PCMA. She added, “We have a long way to go in terms of education on what this industry truly means.” Next steps call for a widespread awareness campaign targeting regulatory officials, politicians and the public. For a report summary, go to http://bit. ly/eum1aJ. by Sarah J.F. Braley and Loren G. Edelstein for Meetings & Conventions www.meetings-conventions.com
39 July 2011 Black Business News www.bbnews.org
County of Los Angeles Supervisor Mark Ridley-Thomas, 2nd District
SMALL BUSINESS CONTRACTING CONNECTIONS July 13, 2011 8:00 am to 12:30 pm University of Southern California Tutor Campus Center – Grand Ballroom (on USC campus) Parking available at USC - $8.00 ¾ Learn to read “Government Contracts in Plain Language” ¾ Connect with government agencies, defense primes, and USC buyers ¾ Certify as a Local Small Business and reap rewards No cost to attend Pre-register on-line at www.laosb.org Click on the Events & Training Courses Link Office of Small Business/PTAC Toll Free: (855) 230-6430
Sponsored by: ¾ Los Angeles County Internal Services Department ¾ Office of Small Business & Procurement Technical Assistance Center ¾ USC Supplier Diversity Services 40 July 2011 Black Business News www.bbnews.org
Technology:
Take a Look! by LaSandra Stratton Check out what these firms and organizations have to offer for your personal interests, personal wealth building, and business expansion opportunities.
www.myskillsmyfuture.org mySkills myFuture helps laid-off workers and other career changers find new occupations to explore. Users can identify occupations that
of privacy, security, borderless international transactions, non returnable payments and low fees. Digital Trade Network Ltd owns the offshore bank accounts that we use to store fiat currency and acts as the interface between our wholesale clients (Exchangers) and the actual payment system. Our system is designed to be simple and extremely safe to use. We do not store credit card, bank account or other digital currency account details, as they are not used in our system. We only ask for minimal personal details and only require verification for transactions over certain limits. We are free trade advocates and with our low fee structure, we have opened up a new trading universe for existing and emerging economies.
http://bigthink.com
www.globaldigitalpay.com Global Digital Pay is fully owned by Digital Trade Network Ltd, a British Virgin Islands company, incorporated in 2008. Its owners have been involved in the digital currency exchange industry since 2002. Our objective is to provide a unique experience encompassing the business model of the ‘classic’ digital currency, which in our eyes consists
“But I think it’s important for us to note the progress that’s been made just in the last two and a half years. I just want everybody to think about this. (Applause.) It was here, in the East Room, at our first Pride reception, on the 40th anniversary of the Stonewall riots, a few months after I took office, that I made a pledge, I made a commitment. I said that I would never counsel patience; it wasn’t right for me to tell you to be patient any more than it was right for folks to tell African Americans to be patient in terms of their freedoms. I said it might take time to get everything we wanted done. But I also expected to be judged not by the promises I made, but the promises I kept.” President Barack H.Obama
Submitted by LaSandra Stratton, Chief Content Administrator of the Black Business News. 41 July 2011 Black Business News www.bbnews.org
Business
require skills and knowledge similar to their current or previous job, learn more about these suggested matches, locate local training programs, and/or apply for jobs. This site is part of the CareerOneStop (www. careeronestop.org) system of service sites sponsored by the U.S. Department of Labor. The system of sites provide employment information and inspiration, a place to manage your career, pathways to career success and many tools to help job seekers, students, businesses and career professionals.
At Big Think, we believe that success in the future is about knowing the ideas that allow allow you to manage and master the universe of information. Therefore, we aim to help you move above and beyond random information, toward real knowledge, offering big ideas from fields outside your own that you can apply toward the questions and challenges in your own life. Big Think’s editorial team packages and presents these ideas to you, our users, using the range of multimedia tools the Internet makes possible, with the aim of distilling each idea to its essence. We think of it as optimizing the “speed of knowledge,” conveying ideas’ value as efficiently and effectively as possible, so you have the time to explore, and absorb, more of them. Because as we move from the information age to the knowledge era, the more ideas you command, the more you will be able to guide the course of your own life and positively impact the lives of those around you.
Quote of Note...
Business Development
Building Your Business for Success: The Importance of Ownership
O
ne of the keys to economic independence for African American business owners is the acquisition and ownership of commercial real estate. By controlling the buildings and land that house the means of generating revenue, an entrepreneur can better attain the goal that underpins what being in business is all about: maximum self-determination. With interest rates now at historically low levels and the economy growing at a slow pace, now is a prime time for many business owners to consider the purchase of commercial real estate. The benefits and drawbacks to commercial real estate ownership vary from business owner to business owner, but potential buyers should educate themselves about the obvious and sometimes hidden benefits to the ownership of a commercial property. Below are some of the major benefits to real estate ownership, versus leasing a commercial space.
Tax Deductions
Added Value To Business
For many Black business owners, a primary benefit of commercial real estate ownership is the tax deductibility of property that can be taken on the interest portion of the monthly commercial loan payment. These deductions can be substantial and each business owner should consult a qualified tax specialist about his or her unique situation.
Unlike some residential loans, many commercial loans are assumable. This makes the business and its real estate much easier for a buyer to acquire, and enhances the value of the business tremendously.
Equity Appreciation On average, commercial real estate properties will appreciate about two to three percent above inflation over the long term. Paying rent provides no appreciation or equity. Quite candidly, the BBA has members who have been paying rent for a decade or more, with no equity accrued and never having positioned themselves to benefit from any hope of equity appreciation. Using some of the most conservative estimates, potential equity appreciation can result in significant financial gains over a period of decades.
A Retirement Fund Through various circumstances, many minority and small business owners will not receive a pension when they decide to retire. In such cases, the equity appreciation on commercial property can be significant. An owner can decide either to sell the property upon retirement to cash in on equity appreciation, or lease the property to another business for a continuous retirement income stream. In fact, in some situations, a business owner may be able to lease out an unused portion of the property, such as a spare office, before retirement for additional income.
No Taxes To Pay On Your Rent When a business leases its real estate, sales tax is paid on the rent paid to the landlord. When you own the real estate there is no tax to pay on the rent. The savings can be significant.
Easy Access To Financing Historically-low, thirty-year fixed interest mortgage rates are now available for owner-occupied commercial properties. Furthermore, there are flexible interest-only options from which entrepreneurs can benefit. In fact, in some instances, with strong financials a business owner may qualify for loan financing up to 100% of the purchase price for commercial real estate. A business owner should consult an experienced commercial mortgage adviser before making an offer on a commercial property, so that in addition to the tangible benefits outlined above, the business owner will have the satisfaction that only comes with property ownership. Truer words have never been spoken: “God bless the child that’s got his own�. The Black Business Association will soon launch a program to assist African American business owners in acquiring commercial and industrial real estate.
Don Barden:
AfricanAmerican Casino, Cable Mogul 1943-2011
D
Bishop Charles Ellis III, senior pastor of Greater Grace, said AfricanAmericans were proud of Barden’s success because it showed what their race could do. “We were all part of Barden Cable,” he said. “We talked about it like we owned stock.” Barden, 67, died May 19 after a battle with lung cancer. He was the owner of Barden Companies Inc., the Majestic Star and Fitzgerald’s casinos and Waycor Development Co. The lavish service featured a 40page glossy program and several musical interludes, including songs by Baker and gospel singer Karen ClarkSheard. Among the 13 speakers were the chief operating officer of a Barden casino in Las Vegas and a representative of the African country of Namibia, where he owned an auto plant. The service, which was filmed by five cameras, was shown on two video screens inside the church and livestreamed on the church website. Speakers hailed Barden for building a $500 million conglomeration whose tentacles ranged from cable to casinos, from making cars to developing real
estate. His name was synonymous with business in Detroit, speakers said. Until stumbling late in his career, he was one of the most successful black businessmen in the world. “Don Barden was a trailblazer,” said Rudy Clay, the mayor of Gary, Ind., where Barden owned a casino. “His trail carried him places where no African-American had ever walked.” Barden’s far-flung enterprises ranged from a gambling palace in Mississippi to the auto factory in Namibia, Africa. But he remained loyal to Detroit even as he believed the city wasn’t loyal to him, rejecting his bid to open a casino here, speakers said. They lauded Barden for continuing to live in the city and run his disparate empire from a downtown office. “Detroit was Don Barden,” said Florine Marks, chief executive of Weight Watchers of Michigan. “He could have moved his business anywhere in the world, but he loved Detroit.”
45 July 2011 Black Business News www.bbnews.org
From The Detroit News: http:// detnews.com/article/20110528/ METRO01/105280363/Detroitmourns-‘dream-man’-DonBarden#ixzz1Nnq8uHc7
Business
on Barden will be remembered as a groundbreaking entrepreneur whose rise to the top of the corporate world showed African-Americans just how high they could soar. Barden has been lauded by civil and business leaders for his meteoric ascension from great-grandson of a slave to the first African-American to own a Las Vegas casino and a major cable TV franchise. “He stretched the limits of our imagination,” the Rev. Jesse Jackson told about 1,100 at Greater Grace Temple during a two-hour funeral. “He lifted others as he climbed.” He constantly referred to Barden as a “dream man” and “odds buster” who never stopped making dreams come true. Among the mourners, befitting Barden’s sway in entertainment and Democratic politics, were Anita Baker, Rep. John Conyers Jr., Tommy “Hitman” Hearns, former Rep. BarbaraRose Collins, TV judge Greg Mathis and Debbie Dingell. Speakers described Barden as a soft-spoken Horatio Alger with a big cigar jutting from his mouth and a thick roll of hundreds in his pocket.
Bringing Contract Opportunities to You!
S
outhern California Edison, Sempra Energy, San Diego Gas & Electric, and Southern California Gas Company held a Procurement Opportunity Day, on June 2, 2011 at the
Omni Hotel in downtown Los Angeles prior to the 37th Annual Black Business Association (BBA) Awards Dinner. The mid-year contract procurement session featured presentations by Cali-
fornia Public Utilities Commissioner Tim Simon and BBA Board Chairperson Gwen Moore. Supporting organizations included the Black Business Association, Greater Los Angeles African American Chamber of Commerce, California Black Chamber of Commerce, Young Black Contractors Assn., Black Chamber of Orange County. Over 300 businesses participated in the one-on-one sessions with corporate and government representatives during the afternoon event. Photo Legend: 1. Gwen Moore, Chair BBA 2. (L-R ) Representative from Southern California Edison; Chris Baker, San Diego Gas & Electric and Southern California Gas Company; Gwen Moore, GEM Communications and BBA Chairperson; Timothy Alan Simon, Commissioner, California Public Utilities Commission; Joe Alderete Southern California Edison and Joe Chow, Southern California Gas Company. 3. Joe Chow, Southern California Gas Company. 4. Commissioner Timothy Alan Simon. 5. Maurice Ortega, Owner of A.M. Ortega Construction meets with buyer. 6. Procurement Day participant 7. Vaughn William, Contracting Agent, Southern California Gas Company. 8. (L-R) Tim Simon, Gwen Moore; guest and Drexel Johnson 9. Participant 10. One-on- one procurement interview 11. BBA members Chef Marilyn Cole and Patricia Clark. ď ƒ
1
2
3
4
5
7
6
8
9
10
11 10
Editorial: John Hope Bryant
Silver Rights and Generation Entrepreneurship: What a President With Vision Can Do
Business-Urban Entrepreneurship
W
ith the launch of the first ever White House Urban Entrepreneurship Summit in Newark, New Jersey, President Barack Obamais showing us a powerful, yet practical and achievable, new vision for all of America, and not just urban America. After all, we are all in this together. What’s cooking in Newark today is not just the ingredients for success for, say, a future entrepreneur and future employer, but a fundamental, 21st century empowerment-based business plan for America, too. And it plays to our strength, as this stuff is really what America, and Americans of every race, color and creed, are absolutely best-in-class at: re-inventing ourselves, in the midst of challenge and crisis, giving birth to literally transformational ideas, and then doing something about them. When things get tougher, we tend to become stronger. The Great Depression not only didn’t break our nation, it ultimately made us much stronger. An entrepreneur’s creed: “Rainbows only follow storms. You cannot have a rainbow, without a storm first.” Whether you are an entrepreneur with an idea, or an intrapreneur working inside of a small or large company looking to grow, or maybe just a mother of two children, desperately trying to figure out how to balance a family budget with too much month left, at the end of your money, then this vision is for you. An entrepreneur’s creed: “I have been doing so much, with so little,for so long, I can almost do anything with nothing.” It’s called re-imagining our future, reframing our success, seeing opportu-
nity even in the midst of adversity, and never, ever giving up. Ever. An entrepreneur’s creed: “Success is going from failure to failure without loss of enthusiasm.” To quote my friends and partners
return now to our entrepreneurial roots. The next largest patent-originating countries are also the countries with the largest GDP. Ideas seem to not only track, but map, a nation’s future economic prosperity, and stability too.
John Hope Bryant at the Gallup Organization, America needs now to “focus on our strengths.” But our strengths are easy to forget, when fear and bad news seem to want to overtake your sense of hope, in the midst of this continuing global economic crisis. The good news is, even in tough times, our strengths are easy to see. The U.S. has produced more than two-thirds of the more than 4.5 million patents in the world today. It is then no coincidence that America remains today the largest economy in the world, and we can remain so still, if we can
Now, what about idea and innovation-starved countries such as, say, North Korea and Iran, you ask? They have one patent each -- for the entire country? And that’s the power of an idea, my friend. It can feed a nation and set people free, or literally lay the seeds of a country’s future stagnation, and failure. An entrepreneur’s creed: “An entrepreneur works 18 hours a day to keep from getting a job.” Getting down to the level of people and jobs, of the approximately 27 million companies in America, only 6
48 July 2011 Black Business News www.bbnews.org
served communities. We were not pointing the way to so-called poor neighborhoods, nor asking for charity or handouts for the poor. We were pointing the way forward, toward opportunity for all; as urban and inner-city communities in America are fundamentally under-served, and represent the last bastion of lost capitalism in America, and a future (responsible) market opportunity. In the riots of 1992, of 3,000 structures burned, and more than $1billion in economic damage, not one structure was a home. Message: you don’t burn that which is your own. What would happen if the people of a community had a business stake in that community? Their community. This is not rocket science. It is called enlightened self-interest, and it is the exact same business plan pursued by the original architects for America’s best and most prosperous cities. We selected financial literacy as the first silver rights issue, because in an economic era everyone needs to understand the universal language of money, or financial literacy empowerment. Soon, other silver rights would follow, from opening a bank account, to starting a business, becoming an entrepreneur or owning a home. Empowerment, we believed, would lead to more empowerment. And more empowerment would lead to individual economic freedom, which in turn leads to jobs for the community, a tax base for cities, resources for schools, safe streets and funded health care, too. We selected financial literacy because we thought that this is what Dr. King would be doing now. When Dr. Martin Luther King, Jr. was gunned down in Memphis in April 1968, he and my mentor, now HOPE Global Spokesman Ambassador Andrew Young, were focused on the Poor People’s Campaign, or what they viewed as the third and final chapter of the civil rights movement: ending poverty in America. Dr. King understood that poverty was more about class than race, and that there were more poor whites in America than poor anyone else, and so this new phase of the civil rights movement
was focused on lifting all boats, and not just black ones. He also understood something particular about capitalism. Dr. King said in 1968, “You cannot legislate goodness, nor pass a law to force someone to like or respect you... (that) the only way to social justice in a capitalist country is economic parity.” Oddly enough, Dr. King’s own father understood both civil rights and silver rights too, as he helped to found Citizen’s Trust Bank in Atlanta, Georgia, and served on its board of directors for 40 years. When members came to church, he encouraged them to get an education, of course to vote, but also, to become homeowners and stakeholders in their community too. Today, Operation HOPE is trying to grow a silver rights movement fromcivil rights soil, for a new generation of young people who may notknow the pains of racial segregation, but know all too well theeconomic depravity that comes from not understanding the language ofmoney, not having a good education, not attending the so-called “right schools,” or belonging to the socalled “right” social or business clubs, not knowing what to do when the social network of high level business relationships, access and opportunity, somehow doesn’t include you. That is why we are now building a HOPE Financial Literacy Empowerment Center at Ebenezer Church, in the King Center complex in Atlanta, in honor of Daddy King. And that is why we stand shoulder to shoulderwith President Barack Obama and his administration, as he strives to inspire Generation Entrepreneurship in urban America today. The White House Urban Entrepreneurship Summit, the brainchild of the Obama Administration, with the Rutgers University Business School, Newark Mayor Cory Booker and Russell Simmons as lead partners, andOperation HOPE, also as a supporting co-host, is a bold, public/private partnership attempt to frame out a new and progressive community. A community called Generation Entrepreneurship.
49 July 2011 Black Business News www.bbnews.org
Huffington Post
Business-Urban Entrepreneurship
million of them employ people, and of that 6 million, 5.9 million have between 1-100 employees; approximately 100,000 businesses have between 100-500 employees; 10,000 businesses have between 500-10,000 employees; and less than 1,000 businesses employ more than 10,000 people. America, the largest economy in the world, with 300 million people, only has 900 some odd businesses that employ 10,000 employees or more. That means that the majority of jobs in America come from small business owners and entrepreneurs, and the majority of those jobs come from startup and growing enterprises, in the first seven years of business growth. The reality is that every big business was once a small one, and before that, a simple idea in someone’s head. What were Facebook, Twitter, CNN, AT&T or Ford Motor Company at their origins? Someone’s idea. Now employing tens of thousands of people. Or take UPS, which started out simply as a one-man messenger company, and today is one of the world’s largest and most prosperous multi-national companies. Operation HOPE was my idea in 1992, immediately following the Rodney King Riots, the worst urban riot in U.S. history. HOPE got its start from a modest $61,000, SBA 7J grant. Today, we have served more than1.5 million people and 70 urban communities across America. This is a particularly useful vision for those that see traditional jobs drying up all around them, and want to help America create some more jobs, and quick. An entrepreneur’s creed: “Whether you are white, black, red, brown or yellow, we simply want to see more green (as in U.S. currency).” But responsible capitalism and fair enterprise are not just aboutmaking money. A drug dealer can make money. A financial predator, whether from Wall Street or your street, can make money. The new agenda is also about building something of value for society, and thisis also what an entrepreneur does. This is why Operation HOPE organized its first HOPE Bankers Bus Tours through inner city and under-
Editorial: Russell Simmons
Confessions of a LifeLong Entrepreneur
Business-Urban Entrepreneurship
O
n Monday, June 6th I delivered the opening keynote address at the Urban Entrepreneurship Summit at Rutgers Business School in Newark, which was co-hosted by the White House. It is a pleasure to work closely with this great president and his administration to support private/public relationships like this one. At the summit, I was with senior members of the Obama administration, business, community and academic leaders, amazing entrepreneurs, other elected officials and members of the non-profit sector in a day long program focused on creating a stronger public-private partnership that will increase minority and women owned business enterprises. This has been a life-long passion of mine, ever since I put my name on my first record and that is why I am humbled to share my story with the hundreds of people who will be in attendance. As many of you know, it has been a very long road for me to get to where I am at today. No one believed in hiphop or Def Jam in the beginning, and I mean no one. When I had the idea of Phat Farm, no one believed in the obvious white space that became the urban design phenomenon. And this was AFTER I had made a lot of people a lot of money. That’s just how it is... No one can see your vision but you, because your vision came from God to you and you alone, so most times you are the sole torch carrier ! No one believed in the idea for a virtual bank which became the RUSH Card, and almost everyone -- with the notable exception of my visionary partner Jim Breyer at Accel (Facebook and Groupon, among many) tried to warn me off of the natural integration or post racial direction of GlobalGrind.com. I think by now you get the point. So what is the reason that those dreams came true or are coming to fruition? All that mattered is that I believed in all of these visions and allowed my imagination to run wild.
our communities. So, when you have these dreams, there will be systems in place, in your local community, supported by our government and the private sector, that you can access to help y you achieve your g goals. Ok, so how do you D IT? Start at the DO b beginning. What do you love? One of the beautiful things about this country is that it affords you the freedom to do whatever you imagine. When you have an idea that you find yourself feeling very passionately about, then that’s one you need to go after. Pursue a career because you love it, not because you think people will love you for pursuing it. Once you’ve picked a vision that you feel passionate about, freeze it and be clear about it. I can’t stress this enough. If you have an idea, don’t wait until the next day to work on it...write it down now. Start with the big picture first, and then bring in the details. I remember a guy at a major sneaker company telling me that he always wanted to play in the NBA, because he loves basketball. The NBA only has a certain number of jobs if you want to be a player, 450 to be exact. But, there are tens of thousands of jobs working in and around basketball. So, this guy took a job working in basketball and loves it. Now, that you have frozen your vision and are clear about it, tell the world what you are going to do. Once you share your vision with the world, you are stuck with it. Have the courage to let people expect you to make it happen. This is a good thing. Focus on that one vision and go to work to make it a reality. Then set the right goal for you. In the end, the overriding factor is whether or not you realize your dreams FOR you. Not the world. You. So, look at your life, at your dreams, your opportunities as a blank canvas that you can paint on it any colors you want. Whether this is your first idea or your fifth company, be creative and paint the most beautiful painting ever painted. Now is the time to dream, and I am so proud to work alongside my friend, President Barack Obama to support every dream that you can imagine!
“I am not saying it is easy.”
That was the difference. As my great inspiration, the yogi Paramahansa Yogananda, said “the imagination is God” and the enlightened can perform miracles with faith alone, but us mere mortals have to work hard, be dedicated and resilient, to realize our dreams. My whole life I have never stopped dreaming. We all have dreams, but here is what is different about dreams today: now is the time to dream big, because even during tough times like these, you can still make your dreams happen. I know there’s a lot of pressure outside, inside -- economic pressure, social pressure. Remember, pressure can crack pipes. But it can also create diamonds. I am inspired that even during these hard times, the entrepreneurial spirit is alive in every city across this great nation. In fact it is alive more today than ever before. It is everywhere I look -- from the barbershop to the boardroom, from the corner store to the corner office, from the college dorm to the housing projects...the ideas YOU have will make this country more competitive, more productive and more peaceful. For the past six months I have been hearing about amazing business ideas while touring the country for my latest book, Super Rich, and people ask me on tour and on the website I founded, GlobalGrind.com, what they can do to be successful. I always say: “Do anything you want.” Remember you cannot fail until you quit! Because when you follow your dream with persistence and resilience, that dream will always become a reality. I am not saying it is easy. Right now things may be tough for you, but let’s make a promise to each other. Somehow, someway, let’s go to work on something you care about. That is why we are doing this summit, to figure out new ways to create opportunities for
www.huffingtonpost.com/russell-simmons 50 July 2011 Black Business News www.bbnews.org
Supporting the Next Generation of Urban Entrepreneurs In response the enthusiasm and energy surrounding the White House Urban Entrepreneurship Summit, the Institute for Entrepreneurial Leadership (IFEL) will open a 9,000 square foot small business office center in Newark, NJ. The goal of the center, which will open in mid-July in the heart of Newark’s cultural district, is to facilitate the launch or expansion of small businesses in the city. The facility will provide a myriad of services to its members, including furnished office spaces, conference rooms, training space, shared administrative support, and mentoring and consultation services. Learn more about the small business office center by visiting IFEL’s website (www.ifelnj.org/index.cfm?fuseaction=page. viewpage&pageid=682).
Institute For Entrepreneurial Leadership to Open Small Business Office Center in Newark Cultural District Facility to offer low-cost office space, shared business services, mentoring, and FREE technical assistance to members
urban centers like Newark.” This new facility will further expand the small business support system available to entrepreneurs that choose to locate in Newark; existing support resources include the Newark Office of the Urban Enterprise Zone, the NJIT Enterprise Development Center incubator for technology businesses, Brick City Development Corporation, GNEC, the Rutgers-Newark SBDC, IFEL and CUEED, our host for today. The facility is expected to open in mid-July, following final approval by the IFEL board of directors. The small business -- especially those that are woman or minority owned -- looking for space to startup or expand in Newark are encouraged to contact the IFEL team for more information. “This initiative fills a critical need for small businesses constantly seeking affordable space in order to get their businesses off the ground,” said Dr. dt ogilvie, Founding Director of CUEED. “There is a dearth of affordable space and that impedes the economic development of the City of Newark.”
51 July 2011 Black Business News www.bbnews.org
Business-Urban Entrepreneurship
The Institute For Entrepreneurial Leadership is excited to announce that starting mid-July, launching or expanding a small business in Newark will be more affordable than ever. Encouraged by the energy of the White House Urban Entrepreneurship Summit hosted by Rutgers Business School’s Center for Urban Entrepreneurship & Economic Development (CUEED), the respective management teams of the Institute for Entrepreneurial Leadership and 550 Broad Street negotiated a deal this past Friday to open a 9,000 square foot small business office center at 550 Broad Street, Newark, NJ. The facility will offer low cost virtual, cubicle and fully furnished office spaces in addition to conference rooms, training space, lounge space and shared administrative support. Facility members will be nurtured in a supportive, entrepreneurial environment designed to accelerate business startup and next level growth. The IFEL team and other experts will provide mentoring and consulting to member businesses. In addition, member businesses will be eligible for FREE technical assistance through the
Newark Urban Enterprise Zone Small, Minority and Women Owned Business Technical Assistance Program. “I am extremely excited that IFEL is launching this new center,” exclaimed Dr. Henry Johnson, Chairman of the IFEL Board of Directors. “This center will enable those small businesses that want to be a part of the Newark Renaissance locate at an affordable price in Newark’s cultural district.” The Institute for Entrepreneurial Leadership (IFEL) is a Newark-based nonprofit that provides affordable consulting expertise to growing businesses with a special outreach to women, minority and urban-based entrepreneurs. A Class A office building, 550 Broad Street is located near the Newark Bears’ stadium, across from the Newark Public Library and near the Broad Street train station in the heart of Newark’s cultural district. “Opening this facility will allow us to support economic development on multiple levels: providing affordable office space to small businesses; supporting small businesses with expert advice and mentoring; offering low-cost shared office services, all of which will help entrepreneurs and small business owners take their businesses to the next level,” said Jill Johnson, Chief Executive Officer of IFEL. “In addition, it will allow us to create jobs, a key element toward strengthening
Black Business Association 37th Award Dinner
1
4
7
10
2
5
3
6
8
11
9
12
Black Business Association Recognizes Small Businesses
O
Photo Legend: 1. Dean Jones, Executive Director, Southland Business Development Partnership.
23. Norma Hollis, Aubrey Stone, Chairman, California Black Chamber of Commerce, and guest
2. Timothy Alan Simon, Commissioner, California Public Utilities Commission
24. Natalie Cole, publisher, Our Weekly
3. Earl “Skip” Cooper, II, President/ CEO, Black Business Association 4. Business of the Year honorees, Eric V. Brown and Renee Cottrell-Brown, Johnsons Products 5. AEG President/CEO Tim Leiweke and Earl “Skip” Cooper, II 6. Don Fracchia, Executive Vice President/Head of California Business Banking at Wells Fargo Bank 7. Anthony Samad, Urban Issues Breakfast Forum 8. Gwen Moore, Chairman, BBA Board of Directors 9. Joann Quarles provides invocation 10. Renee Cottrell Brown 11. Earl “Skip” Cooper, II, Anthony Samad and Gwen Moore. 12. Cecil House, Southern California Edison
26. Gwen Moore 27. Monique Fortenberry, Interin Director, Los Angeles District, Small Business Administration 28. Eugene Eng, Verizon Foundation and Earl “Skip” Cooper, II 29. Aubrey Stone 30. Angela Gibson, ATT and Melrita Fortson 31. Don Fracchia 32. Heather Hutt and Tim Simon 33. Pat Watt, BBA Member 34. Earl “Skip” Cooper, II; Ezekiel Patten. President, Patten Energy Enterprises; Bill Freeman; Cecil House; Carl Dickerson; Clarence Scott; Gwen Moore. 35. Tim Leiweke, Gwen Moore
13. Bonita Perkins, UPS; Anthony Samad; Judge Mablean Ephriam
36. Candida Mobley; Debbie Lumpkins; Brett Byers
14. Cecil House, Tim Simon, Gwen Moore, William Hawkins
37. Barbara Stanton and students from Watts Star Theater
15. Chris Floyd and Byron Reed
38. Jacque Bee, Recycling Black Dollars, Earl “Skip” Cooper, II; Starletta Quarles
16. Bill Freeman and Ann Distefano 17. VIP Reception Signage 18. Joe Chow, Ann Smith, Southern California Gas; Earl “Skip” Cooper, II 19. Ted Davis and Joe Alderete 20. Steven D. Turner 21. Natalie Cole, publisher, Our Weekly and Tim Leiweke Gloria Zuurveen Zuurveen, Publish Publisher PACE NEWS
25. Foressee Hogan Rowles, Community Financial Resource Center
22. Isidra Person Lynn, Eric Brown, and Renee Cottrell-Brown, Johnson Products Company
39. Earl “Skip” Cooper, II; Rhonda Thompson 40. Tierre Condiff and Phullu Morgan 41. Dessert Reception Delights 42. More wonderful desserts 43. Tim Simon and Dave Ford 44. T.C. Richard, Top of the Line Productions 45. Earl “Skip” Cooper, II and Barbara Perkins, and guest
53 July 2011 Black Business News www.bbnews.org
Business
n Thursday, June 2, 2011 at the Los Angeles Omni Hotel the Black Business Association (BBA) celebrated its 37th Annual Awards Dinner which recognized Small Business Week. The dinner featured keynote speaker and Chairman’s Award recipient the Honorable Timothy A. Simon, Commissioner, California Public Utilities Commission; President’s Award recipient Timothy J. Leiweke, President/CEO of AEG, developers of Staples Center and L.A. Live; Majority Award winner Ted Craver, President/ Chairman/CEO of Edison International and Southern California Edison; Majority Financial Corporation winner John G. Stumpf, Chairman/CEO, Wells Fargo; Business of the Year Award winners Eric V. Brown, CEO and Renee Cottrell-Brown, Executive Vice President representing Johnson Products Company; and recipient of the Community Advocate of the Year Award Anthony Asadullah Samad, Ph.D. The audience of owners of both large and small busineses, business executives, government representatives and friends and family of award winners enjoyed an evening of social exchange and business information.
Black Business Association 37th Award Dinner
13
14
15
Bill Freeman and Guest
16
Ann Smith SCG
17
19
18
20
22
21
23
Black Business Association 37th Award Dinner
24
25
26
28
27
27
29
Merita fortner
30
33
31
34
32
35
Black Business Association 37th Award Dinner
36
38
37
39
41
40
42
43
44
45
ABCs of the Stock Market earnings four times a year (once each quarter).
Business
H
ave you considered adding stocks to your investment portfolio? Many financial experts consider owning stock one of the most profitable ways to grow wealth over the long term. An important factor in growing long-term wealth is the rate of return on your investment, and stocks have historically had an average return of around 10-12 percent. While stocks can help generate wealth, they also come with risks. A key to protecting yourself in the stock market is to educate yourself. Below are some basic terms that may help you when learning more about the stock market or when speaking with a financial advisor or stock broker: Stock: At some point every company needs to raise money. To do this, companies can either borrow it or raise it by selling part of the company, which is known as issuing stock.
Dividends: This is the portion of a company’s profit that is given back to the shareholder. Payments are made on either an annual or quarterly basis. The dividend is most often quoted in terms of the dollar amount each share receives (dividends per share). Stock Market: Stock markets are places where buyers and sellers of company stock meet to trade and determine prices of stock. For example, the NYSE (New York Stock Exchange) and the NASDAQ (National Association of Securities Dealers Automated Quotations) are two common exchanges in the United States. Stock Broker: A stock broker is a person who buys or sells stocks in exchange for a fee, which is called a commission. Bull Market: A bull market is when
Earnings: When a company makes a profit, it is called earnings. Public companies are required to report their
Bears: A bear market is when the economy isn’t doing so well and
stock prices are falling. If a person is pessimistic, believing that stocks are going to drop, he or she is called a “bear” and said to have a “bearish outlook.” Yield: The percentage of a dividend paid against the stock price. For example, if you receive a five dollar dividend on a $50 per share stock, your yield is 10 percent. Knowledge is key, so it is wise to educate yourself about the risks and opportunities that the stock market can provide. It may be helpful to seek the advice of a trusted financial advisor who will take into consideration your goals and risk tolerance.
Share: The stock of a business is divided into shares. Each share represents a fraction of ownership of a company, a claim on the company’s assets and earnings. Shareholder: A shareholder is one of the many owners of shares in a company or corporation. Shareholders own the stock, but not the corporation itself. As an owner, shareholders are entitled to a share of the company’s earnings as well as any voting rights attached to the stock.
a “bullish outlook.”
Tina Robinson, Senior Vice President and Regional Manager, Union Bank, N.A. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG, NYSE:MTU), one of the world’s largest financial organizations www.unionbank.com
the economy is doing well and stocks are rising. If a person is optimistic and believes that stocks will go up, he or she is called a “bull” and is said to have
The foregoing article is intended to provide general information about the stock market and is not considered financial advice from Union Bank. Please consult your financial or tax advisor.
58 July 2011 Black Business News www.bbnews.org
Black Lawyers Admitted to the Supreme Court
The National Law Group (NLG) co-founders Carlos E. Moore, John A. Moore, Trent A. McCain, Rodney F. Barganier, Carl L. Collins III, and Bethew Jennings III; and newest members Andre T. Young and Earnest A. DeLoach were admitted to practice before the Supreme Court of the United States of America.
T
Who Are We? The National Law Group (NLG) - the first-ever nationwide legal services company made up entirely of talented Black lawyers located all over the United States. Collectively, we have won over $50 million in verdicts and settlements, and have over 100 years of combined experience. Located in multiple cities across the United States, our attorneys offer representation to more than 70% of
all African Americans that live in this country. We are the only Black-owned company that can make this claim!
Our Commitment We serve clients of all ethnic backgrounds, but because African Americans are greatly under served when it comes to legal assistance and resources, we make great efforts to service and reach this demographic. Our goal is to provide affordable, accessible, and quality legal services to as many African American individuals, families, and businesses as possible.
There are thousands of lawyers in this country, but only approximately 3% of us are African American. Of that small number, most are women and very few are owners of their own law firms. However, a good number of us are African-American men who are providing quality legal representation for African-Americans, Hispanics, Caucasions and others across the country. Our firm has defied the odds three times by being a group of lawyers that are 1) African American, 2) men, and 3) owners of a successful legal services company, the National Law Group. We stand ready to work for you. Remember, we are the company with a nationwide reach and a local touch.
Why You Need Us You need our services because we truly care about you and your case. We look like you, we grew up in your communities, and therefore we truly understand your issues. Therefore, we take personal and keen interest in each and every case. Our experienced attorneys are experts in many areas including Racial
Discrimination, Gender Discrimination, Police Brutality, Family Law, Bankruptcy, Personal Injury, Wrongful Death, Wrongful Termination, Criminal Defense, Small Business Litigation, Medical Malpractice, and more. We are a full-service, one stop shop! NLG stands ready to assist you with any questions that you may have. Visit www.NLGAttorneys.com or www. BlackLawyers.NET.
59 July 2011 Black Business News www.bbnews.org
Business
he National Law Group (NLG) is a nationwide coalition of law firms committed to providing quality legal representation and compassionate advocacy on behalf of plaintiffs. Our mission is to assist individuals who have been harmed and hold those who are at fault accountable. NLG attorneys have over 100 years of combined experience and have won over $50 Million in verdicts or settlements on behalf of our clients.
Black Lawyer Statistics
Debra L. Reed Named Chief Executive Officer of Sempra Energy
T
he board of directors of Sempra Energy today announced that Debra L. Reed has been elected chief executive officer of the company and a new member of the company’s board. Reed, 55, succeeds Donald E. Felsinger, who will continue in the role of Sempra Energy’s executive chairman until his planned retirement at age 65 in late 2012. Neal E. Schmale, president and chief operating officer of Sempra Energy, will remain in his current role until his planned retirement later this year. “Our board of directors has worked diligently over the past year to ensure a smooth leadership transition in the wake of Neal Schmale’s and my planned retirements,” Felsinger said. “Early on in the process, we identified Debbie Reed as a top candidate. In her 33-year career with the Sempra Energy companies, Debbie has demonstrated outstanding leadership at every level of responsibility, a keen
ability to drive superior performance and a broad understanding of the energy industry. “Our board and I believe strongly that Debbie is the best person to take this company forward and continue our excellent track record of creating value for our shareholders while maintaining superior service for our millions of customers worldwide. “With all of our businesses operating effectively and the company performing well financially, we felt the timing was ideal to begin our transition to a new generation of leadership at the company.” Reed has been executive vice president of Sempra Energy since April 2010. Previously, she was president and chief executive officer of San Diego Gas & Electric (SDG&E) and Southern California Gas Co. (SoCalGas), Sempra Energy’s regulated California utilities. She also served as chief operating officer of the two utilities, after being initially appointed president of SDG&E in 2000. Reed first joined SoCalGas in 1978 as an energy systems engineer. In 1988, she became the first female officer appointed at the company. Reed serves on the board of directors of Halliburton Co. and Avery Dennison Corp. Previously, she was a board member of the American Gas Association, Genentech and Dominguez Services Corp. She also serves on the board of the San Diego Regional Economic Development Corporation (as chair),
as well as on the advisory councils of UCSD’s Jacobs School of Engineering and the Precourt Energy Efficiency Center at Stanford University. Additionally, Reed is a member of The Trusteeship, an affiliate of the International Women’s Forum. Reed graduated summa cum laude from the University of Southern California with a bachelor’s degree in civil engineering. Sempra Energy’s five principal subsidiaries are SDG&E, SoCalGas, Sempra Generation, Sempra Pipelines & Storage and Sempra LNG. Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2010 revenues of $9 billion. The Sempra Energy companies’ nearly 16,000 employees serve about 26 million consumers worldwide. http://sempra.com
61 July 2011 Black Business News www.bbnews.org
JULY 18, 2011
Haiti: Architecture for
Community/Public Inerest
Humanity works through Haiti Rebuilding Center
A
rchitecture for Humanity is a nonprofit design services firm founded in 1999. We are building a more sustainable future through the power of professional design. The Haiti Rebuilding Center run by Architecture for Humanity coordinates and collaborates with local professionals, educational institutions and other organizations on long-term Haiti reconstruction programs. The Rebuilding Center is a one-stop shop for professional design and construction services, workforce training, consumer education, professional referrals, and reconstruction bid and tender opportunities. Architecture for Humanity will transfer ongoing operations to Haitian hands within five years, following our long-term plan for reconstruction. The Rebuilding Center hosts a
monthly Meet & Greet in Pétionville to foster dialogue within the building professions and coordinate partnerships with universities including UPENN, Columbia, Parsons, the University of Minnesota, Université d’État d’Haiti and Université Quisqueya, among others. Read more about the Center’s work below on the individual project pages, and via our collected updates.
Haiti School Initiative The Haiti School Initiative focuses on the design and construction of at least 10 primary and secondary schools across Haiti. Designs will emphasize hurricane- and earthquake-proof construction, climate sensitive/passive cooling techniques, community-centered design and development, local materials and the stimulation of local economies. The Initiative is supported
in good part by Students Rebuild (http://studentsrebuild.org), a program coordinating youth philanthropic efforts from across the world.
Reconstruction of PME The Rebuilding Center supports economic recovery in the short and long term by aiding the redevelopment of economic corridors through the following means: • the mapping and documentation of economic corridors in collaboration with SMEs and creditors to understand the economic demand; • financial support of SME reconstruction work and anchor businesses in the corridors; • sustainable design and construction services; • professional training.
64 July 2011 Black Business News www.bbnews.org
see Help For Haiti on page 65
Help for Haiti from page 64
The program will influence professional and private lives of 30,000 people and will contribute to Haiti’s economic development by aiding, over the span of three years, more than 5,000 Haitians find work.
Bati Byen: Building Back Better The Rebuilding Center is additionally a one-stop shop for technical assistance, education and training for Haitian building owners and construction and design professionals. By tapping a network of more than 50,000 professionals willing to lend time and expertise to help those who would not otherwise be able to afford their services, we bring design, construction and development services where they are most critically needed. Design is important to every aspect of our lives. It informs the places in which we live, work, learn, heal and gather. We engage all stakeholders in the design process. We believe our clients are designers in their own right. Thoughtful, inclusive design creates lasting change in communities by: • Alleviating poverty and providing ac-
cess to water, sanitation, power and essential services • Bringing safe shelter to communities prone to disaster and displaced populations • Rebuilding community and creating neutral spaces for dialogue in postconflict areas • Mitigating the effects of rapid urbanization in unplanned settlements • Creating spaces to meet the needs of those with disabilities and other atrisk populations • Reducing the footprint of the built environment and addressing climate change Architecture for Humanity is a catalyst for innovation. We learn by doing. We know the value of sharing success stories and lessons learned—our own as well as those of others. To foster knowledge sharing and promote best practices, we developed the Open Architecture Network (www.openarchitecturenetwork.org). This groundbreaking on-line network empowers architects, designers, builders and
their clients to share architectural plans and drawings—including CAD files. All plans are shared through an opensource model and can be freely downloaded by all. Design is the ultimate renewable resource. Join us in building safer, more sustainable and more innovative structures—structures that are assets to their communities and an ongoing testament to the ability of people to come together to envision a better future.
Donate By making a donation (http://architectureforhumanity.org/support) you are supporting a grassroots network of architects, designers and building professionals lending their talents and expertise in communities where there services are most needed and can least be afforded. You know design matters. Help us use the power of design to build a more sustainable future in communities in Haiti and around the world. http://architectureforhumanity.org
Community/Public Inerest
65 July 2011 Black Business News www.bbnews.org
Community/Public Inerest
J
ust who are the Africans who helped shape the Americas, and where did they come from? It’s a question professor David Eltis and his team at Emory University (www.emory.edu/home/ index.html) in Atlanta are trying to answer with a new online project called “African Origins www. african-origins.org .” Launched in April, the online database could help trace the roots of more than 100,000 Africans who were shipped to the Americas during the transatlantic slave trade. “In the 19th century, when the slave trade was in the process of being suppressed, there were a set of international courts established around the Atlantic world and captured slave vessels were brought into these ports and adjudicated by the courts,” Eltis said. “The people on board those vessels had their information taken down in bound registers which have survived. And the most interesting thing about these bound registers is it provides information on the African name, which is actually quite rare in the history of the
black Atlantic,” he added. The key to the project’s success will be the general public. Anyone who knows about African naming traditions can help identify where individual slaves came from, based on their names. “The range of languages and practices in Africa are very great,” Eltis said. “There are over 300 languages in Nigeria alone and there is no way that anyone can possibly be in command of all the names associated with those languages.” Kwesi Degraft-Hanson, an Emory graduate student from Ghana, recognized several names on the database and realized he could be a part of history. “Exciting may sound like a strange word, but
it was exciting to me,” Degraft-Hanson said. “Exciting because I realized these are people who were embedded in these documents, and who have been lying dormant for so long, and who really, as I put it, are reaching out their hands to people like myself, Dr. Eltis, to all those who will interact with this, to say ‘here we are,’” he added. Many African names are rooted in specific regions, countries or even villages. For the most part, the naming traditions have persisted through the years, allowing those alive today to trace back the names with great accuracy. Degraft-Hanson explains that his first name, Kwesi, means “male born on Sunday” and is specific to the Akan -- a people and linguistic group from Ghana and Ivory Coast.
66 July 2011 Black Business News www.bbnews.org
Slaves
George E. Beaubian:
from page 66
“I was very surprised when I saw that if you go back to the 1600s you find lists with Akan on it -- it has currency all through the ages,” he said. Using the database is simple. Type in a name and a country and a list of names is returned that phonetically could be close to the spelling. Because the African names were originally written down by English and Spanish speakers at a time when many African languages had no written counterpart, the spelling is a phonetic representation of how the name might be spelled by an English or Spanish speaker. For example, typing in Kwesi and Ghana brings up 189 names, ranging in spelling from Cuesi to Quesi. Each individual name on the database also comes with additional details, such as a person’s gender, age and where he or she boarded the ship that took them to the Americas. One “Kwesi” on the database was a 22-year-old male, liberated by an international court in Havana, Cuba, in
1829. He had been onboard the slaving vessel “Voladora,” which departed from the port of Po-po before being intercepted and taken to Havana. If a user is confident of the geographic origin of the name they can send the information to the African Origins team, who then vet the submission. If consensus is reached, that slave -who once was just a number in a ship log -- will be given a name and an identity. Eltis says the ultimate goal of the
project is to create a geographic profile of the origins of the people pulled into the slave trade. “I think it will fill in a lot of gaps on how the slave trade operated and where it originated -- not necessarily where the enslavement process began, but the regions in Africa which were drawn on most heavily for people who were taken to the Americas,” he said. “It’s just as important, I think, for people who live in the Americas, the African Diaspora population.”
I
67 July 2011 Black Business News www.bbnews.org
Community/Public Inerest
t is with great sadness that we inform the public that George E. Beaubian, a former Executive Board Member and Past President of the New Frontier Democratic Club (NFD), passed away on Saturday, June 25, 2011. He was the first member to be elected to three consecutive terms as President and he served from January 1971 to December 1973. As a longtime NFD member, George had been a member of the Political Action Committee, Newsletter Staff, delegate to conventions of the California Democratic Council, Democrats of
Southern California, and he designed the graphics and logo for the club’s original letterhead. He relished being a part of NFD’s history and as a Past President, he was honored at its 50th Anniversary Celebration in October 2010. In addition to his active participation in New Frontier Democrats, he has a long record of commitment to and Board Member of The Brotherhood Crusade; he was the Director of Mayor Bradley’s Office of Small Business Assistance; former President and Vice President of the Los Angeles City Fire Commission; a Member of Assemblyman Julian C. Dixon’s Steering Committee for the 63rd A.D., as well as an outstanding political and community advocate. George also provided strong support for the Black Business Association. George was fully engaged in making significant contributions to the corporate, civic and cultural affairs of the City and the State. Also, he was proud to be one of the “Eastsiders” and had a great sense of humor. He leaves to mourn his lovely wife Lois Beaubian; daughter and sonin-law Jackie & Derick Majors; two granddaughters, a grandson, and a host of friends and relatives.
Caltrans Construction
Money for You Can
MEAN
Thursday Blues at
Uncle Darrow‛s High Noon-2pm Every Thursday
El Camino College offers the training and advising you need to enhance your ability to bid for and WIN state highway construction contracts. Now is the time to get bid ready with assistance in the areas of procurement, personnel, cash flow, marketing and more!
Come by for lunch and relax to blues and jazz from our house band!
Appointments with a business advisor are available at the SBDC at no charge to you. For more information, call the SBDC at 310.973.3177. Be sure to attend the free Economic Stimulus event on Thursday, November 19, 2009, in the City of Compton to learn more about stimulus opportunities available from Caltrans and other state and federal agencies. Visit californiasbdc.org for details.
2560 S. Lincoln Blvd. Marina del Rey North East corner of Washington & Lincoln
“LA Times Magazine favorite cajun food”
Small Business Development Center Hosted by El Camino College 13430 Hawthorne Blvd. Hawthorne, CA 90250 310.973.3177 southbaysbdc.org
310-306-4862
www.uncledarrows.com
FAME ASSISTANCE CORPORATION FREE CREDIT MANAGEMENT WORKSHOPS HELD EACH MONTH AT
Order Via the Internet
1968 W. ADAMS BLVD., LOS ANGELES
Wines of the Black-Owned wineries of South Africa.
CALL FOR INFORMATION OR RSVP 323-730-7720
Register at TheArtfulGrape.com. The Artful Grape will do the rest. The wines will be delivered to your door.
SPONSORED BY
68 July 2011 Black Business News www.bbnews.org
NAACP in the National Fight for Education Equality
N
ew York City has become the latest battleground in the national fight for education equal-
Sign the Petition at… http://action.naacp.org/page/s/ nycschools?utm_medium=email&utm_ source=NAACP&utm_campaign=20110606NY Cschools&source=20110606NYCschools Kansas, we have never hesitated to fight for what is right. Today the fight continues in the nation’s largest school district. You can help shed light on this inequality by signing the NAACP petition today and supporting New York City students. Last month, after a year of attempts to negotiate with the New York City Department of Education to correct these inequalities after they lost to us in court, the NAACP was forced to go to court
dents are forced into shorter playground periods than their charter school counterparts, or served lunch at 10 am so that charter students can eat at noon. The inequity could not be more glaring. And similar proposals are being considered in other states and counties nationwide. Throughout our history, the NAACP has fought for equal educational opportunities for all Americans. When we have seen inequality in school districts from Los Angeles, California to Topeka,
again to compel them to comply with state law. Our return to court has triggered a smear campaign against the NAACP. In recent days we have faced a coordinated media attack backed by funds from right wing opponents of public schools. Unable to dispute the facts of the case, they’ve chosen to cast aspersions on the NAACP, to question our motivations, and to sling mud at our legacy. This is a tactic meant to silence the
NAACP, but with your help, we will not be silenced. Will you join us in speaking out? Stand alongside the NAACP, New York City parents and students to let the Department of Education know that all students deserve a quality education. Sign the Petition now and let New York know that those who believe in justice will not back down. The NAACP will always work for the day when all students can access highquality public education. We will not tolerate the neglect of the hundreds of thousands of families depending on traditional public schools, nor will we stand by as public schools are illegally closed, communities are ignored in defiance of the law and student success is left to chance. And we will never be silenced by right wing attacks on our reputation. The NAACP has always believed that educating children in a separate and unequal system that provides a quality education to the lucky few at the expense of the many is the wrong kind of education, and we will continue to fight, as we always have, for equal opportunity for all. Thank you for standing with us. Sincerely, Benjamin Todd Jealous President and CEO NAACP www.naacp.org
69 July 2011 Black Business News www.bbnews.org
Community/Public Inerest
ity. In some schools, hallways serve as a stark dividing line. Classrooms with peeling paint and insufficient resources sit on one side, while new computers, smartboards and up-to-date textbooks live on the other. One group of students will be taught in hallways and basements while others under the same roof make use of fully functional classrooms. New York schools have increasingly co-located charter schools inside existing public schools as a cost cutting measure. Handled improperly, co-locations can lead to disparities, division and tension among students, which can impede learning. In many instances, traditional stu-
Let’s Move!
New Guidelines for Child Care Providers and Parents
W
day, and do not serve sugary drinks. For children age two and older, serve low-fat (1%) or non-fat milk, and no more than one 4-6 ounce serving of 100% juice per day. • Infant feeding: For mothers who want to continue breastfeeding, provide their milk to their infants and welcome them to breastfeed during the child care day; and support all new parents in their decisions about infant feeding. First Lady Mrs. Obama unveiled Let’s Move! Child Care while visiting children at CentroNia, a bilingual child care center in Washington, DC. “Everyone is going to see that these small changes can make a big difference. If our kids get into the habit of getting up and playing, if their palates warm up to veggies at an early age, and if they’re not glued to a TV screen all day, they’re on their way to healthy habits for life,” First Lady Mrs. Obama said. “That’s why I’m so excited about Let’s Move Child Care
– because I know that childcare facilities and home-based providers can be a real building block for an entire generation of healthy kids.” To best support child care providers who choose to meet these practices, Nemours (www.nemours.org) is leading an effort to provide free, comprehensive resources and tools in a newly developed website, and the National Association of Child Care Resource and Referral Agencies (www.naccrra. org) is committed to providing technical assistance to providers. Child care providers and parents can go to HealthyKidsHealthyFuture.org for these free tools and resources and to share success stories. Let’s Move! Child Care comes as a combined effort from the government, private, and nonprofit communities. Ending childhood obesity is a responsibility we all share, and working together, we will make a difference.
71 July 2011 Black Business News www.bbnews.org
www.letsmove.gov
Community/Public Inerest
e are pleased and excited to announce Let’s Move! Child Care (www.healthykidshealthyfuture.org/welcome.htm), a new effort to work with child and day care providers to help our youngest children get off to a healthy start. Everyone has a role to play in ending childhood obesity, and child and day care centers are certainly no exception. By providing a solid checklist on healthy nutrition, physical activity and screen time, we all can help take more responsibility for the healthy habits of our kids. We are starting off strong with commitments from the public sector: the Department of Defense and the General Services Administration; and also the private sector, Bright Horizons, the nation’s second largest childcare provider. All three are committing to implement the checklist which will reach over 280,000 children. The checklist, which can be used by both providers and parents, is comprised of these five elements: • Physical Activity: Provide 1-2 hours of physical activity throughout the day, including outside play when possible. • Screen Time: No screen time for children under two years. For children age two and older, strive to limit screen time to no more than 30 minutes per week during child care, and work with parents and caregivers to ensure children have no more than 1-2 hours of quality screen time per day, the amount recommended by the American Academy of Pediatrics. • Food: Serve fruits or vegetables at every meal, eat meals family-style when possible, and no fried foods. • Beverages: Provide access to water during meals and throughout the
Walmart Launches $2.6 Million Effort to Expand Summer Services for Children in Los Angeles
Donation will provide thousands of nutritious meals and help almost 1000 youth in the Los Angeles area access summer learning and employment programs
W
income youth is unequal access to summer learning opportunities and critical needs like healthy meals. At a time when many summer programs are being cut due to shrinking budgets, Walmart and the Walmart Foundation’s
food programs as a source of nutritious meals or seek access to enrichment opportunities while school is out,” said Kimberly Sentovich, Senior Vice President for the Pacific Division for Walmart. “Through our commitment
$23.5 million initiative to expand nutrition, learning and employment services for elementary, middle and high school students throughout the summer months. Grants will be provided to the Los Angeles Chamber of Commerce’s Los Angeles Youth at Work initiative, THINK Together, the Los Angeles Regional Food Bank, the Special Needs Network, Summer Night Lights and the Weingart-East LA YMCA. “This summer, we’re stepping up our efforts to invest in our youth and local communities,” said Los Angeles Mayor Antonio Villaraigosa. “This partnership with Walmart will help thousands of young Angelenos overcome barriers to employment during the summer months by providing skills training, access to nutritious meals, and educational opportunities.” According to the National Summer Learning Association (NSLA), the primary reason for the achievement gap between higher- and lower-
summer giving grants will assist in three key areas: • Providing healthy meals to approximately 1,000 school-age children in our area, and a total of 8 million healthy meals to more than 85,000 youth. • Helping 720 local kids enroll in summer learning programs, and helping 20,000 youth nationwide participate in programs that will better prepare them to return to school. • Providing jobs and skills training to more than 235 local teens and more than 5,000 youth nationwide. Additionally, Walmart is providing a $730,000 grant and supplies to support the annual Summer Night Lights program, an anti-gang initiative that keeps parks open after dark with free food and activities. With funding from Walmart, the program will expand to eight additional Los Angeles-area parks. “The summer months are an important time, especially for families with young children who depend on school
and partnership with organizations that provide vital services to youth and their families, we will continue to work together to help end hunger and foster healthy and safe communities in Los Angeles.” To find additional information on the summer programs that Walmart is supporting and learn more about how Walmart is bringing its commitment to hunger relief to life this summer, visit www.walmart.com/fightinghunger.
About Philanthropy at Walmart Walmart and the Walmart Foundation are proud to support initiatives that are helping people live better around the globe. In May 2010, Walmart and its Foundation made a historic pledge of $2 billion through 2015 to fight hunger in the U.S. The Walmart Foundation also supports education, workforce development, environmental sustainability, and health and wellness initiatives. To learn more, visit http://www.walmartfoundation.org.
73 July 2011 Black Business News www.bbnews.org
Community/Public Inerest
almart and the Walmart Foundation have announced $2.6 million in grants aimed at filling the gaps created in Los Angeles when schools close for the summer. The funding is part of a nationwide,
“How To Make Change” Series
T
hrough the summer, the White House will be rolling out events based on feedback during the “Your Future, Your Solutions” 100 Roundtables Initiative in a series called “How to Make Change”. The Office of Public Engagement will update the schedule with emails and on our website with specifics on timing of the events shown here and for added events here at the White House, and around the country.
Civic Engagement: Youth Incarceration, Environment, and LGBT Issues Not something we see in the mainstream media, but check out President Obama hearing real-life examples from young Americans on how specific policies he supported such as second chance programs, social work, health and human services, the environment, energy independence, national security, Don’t Ask/Don’t Tell, and LGBT issues have made an impact in the lives of young Americans. Join us for the opening session: “How to Make Change: Civic Engagement” at 4:30 p.m. EDT, July 5, 2011 on Whitehouse.gov/Live. Tackling Poverty Poverty is a global challenge that the President is committed to tackling both
E-Book Launch As we promised during the “Your Future, Your Solutions: 100 Youth Strategies for Winning the Future” Roundtables Initiative, we will be launching an E-book with results and outcomes from the roundtables you held and ways to connect with each other around the country. Join us for “How to Make Change: E-Book Launch” in July date and time is forthcoming. College Affordability, Student Financial Aid, and Pell Grants President Obama and Young Americans have achieved incredible successes on issues related to college affordability. From raising the Pell Grant to $5500 and increasing the American Opportunity Tax Credit to $2500 (and fighting hard to keep both), investments in education for our generation are a priority. Listen to what young advocates, Senior Advisor Valerie Jarrett, and President Obama himself had to say about college affordability, financial aid, and Pell: Join us for “How to Make Change: Pell Grants and Financial Aid” webchat on August 2, 2011.
Educational Awards, Low Income Housing, and Grants What have young folks been doing to alleviate a shortage in affordable housing? How about building 13 homes in 5 years. Not too shabby. Youth Advocate Layla Wright joins us to discuss her Youth Build project in Tennessee, helping communities in Appalachia. We will have at least three more events in August, including “How to Make Change: Affordable Housing and Impact on Young Americans,” “How to Make Change: Energy and Environment,” and “Closing Session: How We Did It: Success Stories and Scalable Models of Success” More events and opportunities to connect will be added throughout the summer! www.whitehouse.gov/ blog/2011/06/30/ how-make-change-series #AskObama at the First Ever Twitter @Townhall at the White House The White House is all a-Twitter about an exciting event that’s happening next week. On Wednesday, July 6th at 2pm ET, President Obama will answer your questions in the first ever Twitter Town Hall at the White House, and you’re invited. Starting today, you can tweet your questions about jobs and the economy using the hashtag #AskObama and follow @townhall for the latest updates. Then, come back to watch the President respond to your questions in a live event moderated by Jack Dorsey, Twitter co-founder and Executive Chairman.
75 July 2011 Black Business News www.bbnews.org
Community/Public Inerest
Kickoff Conference Call with President Obama and Administration Officials Obama Administration Officials conference call de-briefing the President’s commitment to youth issues and initiatives. President Obama will also hop-on the call at 12 noon on Friday, July 1, 2011. Please note that capacity has been reached by those who RSVP’d, but we will provide a read-out after this call.
here and abroad. Lots of movement has been made in this arena, but much more is left to be done. What have young Americans done substantively to stop the cycle of poverty in our communities? Xavier Jennings shares some insight here: Join us for “How to Make Change: Poverty and International Aid”, an interactive chat with U.S. Agency for International Development Administrator Raj Shah at 1:30 p.m. EDT on July 7, 2011, on Whitehouse. gov/Live. submit your questions in advance by clicking here.
Banks Need More Diverse Boards, Management
M
OUR ECONOMIC RECOVERY PLAN and OERP
Comedy Night Do Business with BBA Member Join the Fun! Businesses & Advertisers Share the Laughs!
77 July 2011 Black Business News www.bbnews.org
Community/Public Inerest
ajor bank boards of directors remain overwhelmingly white and male, reports The Greenlining Institute in its recently released latest study of bank board diversity. Focused on nine major institutions with a major California presence, Greenlining found that Citi’s board was most diverse, while eight of nine boards were at least 80 percent white and 80 percent male. Five banks had zero Latino representation, four had no Asian Americans, and two had no African Americans. People of color also tended to be seriously underrepresented in highlevel management positions. “We’re strongly urging banks to diversify their boards and upper management, not just for diversity’s sake, but because they’re missing opportunities,” said report author Preeti Vissa, Greenlining’s Community Reinvestment Director. “Communities of color are already the majority in California and will be nationally in the foreseeable future, and their buying power is growing. Projections for 2014 point to over $3 trillion in buying power for the combined African American, Asian American and Latino communities. “Diverse leadership can help financial institutions tap into this enormous market,” Vissa added. “And given the disproportionate impact of predatory lending in communities of color, having board members with connections to these communities might help discourage such practices.” The report urges banks to proactively interview diverse candidates for leadership positions and aim for at least 40 percent overall board diversity, with at least one African American, Asian American and Latino member. The full report is available online at www.greenlining.org/resources/pdfs/ GISDRCinteriorcoverforGIwebsite.pdf. Contact Bruce Mirken, Greenlining Institute Media Relations Coordinator at 510-926-4022.
T
he Dedication of the Martin Luther King, Jr. Memorial on the National Mall in Washington, DC will take place at 11 a.m. on Sunday, August 28, 2011, and this site, Dedicate The Dream (www. dedicatethedream.org) is the official information resource. The Dedication promises to be a historic event for the U.S. and nations around the world, as Dr. King’s vision and timeless beliefs continue to resonate with people of all lands. World leaders, civil rights pioneers, citizens who remember the hard days of segregation and those leading the next generation closer to Dr. King’s dream, will assemble together for the longawaited celebration and remembrance. This ceremony will be the culmination of a week of events, inspired by the establishment of a permanent honor to one of our nation’s greatest citizen leaders. Dr. King was a profound teacher, whose lessons were anchored in the primacy of human dignity. He enacted irreversible social change and led our country forward, relying exclusively on non-violent means. The
Memorial will be a lasting tribute to Dr. King’s legacy and will forever serve as a monument to the freedom, opportunity and justice for which he stood. Whether you live in the Washington, DC area, or are planning to visit for this momentous occasion, the Dedicate The Dream website will offer the latest available information to help you plan. Please visit often, for it will be updated frequently as Dedication planning progresses. We look forward to sharing with you a joyous and historic day for our nation.
Final Financial Challenge But I also can’t take my eye off our financial situation. We have one more challenge to overcome before we can unveil our magnificent statue to the world: to raise the final $8 million to complete this Memorial. That’s why I am reaching out to the community again and asking for a special “Three Month Countdown” Gift of $90 to the Memorial today. I know we all have a lot on our plates and have many financial responsibilities. But I hope many
of you will be able to donate to the Washington, DC Martin Luther King, Jr. National Memorial Project Foundation this year. While a symbolic donation of $90 would be a tremendous help, any amount that you can send will be deeply appreciated. Donations may be made online at www.mlkmemorial.org. From the bottom of my heart and on the behalf of everyone here at the Memorial, I want to thank you for your continued generosity that will enable current and future generations of Americans to remember and honor the life and legacy of Dr. Martin Luther King. Sincerely,
Harry E. Johnson, Sr. President & CEO Washington, DC Martin Luther King, Jr. National Memorial Project Foundation, Inc.
79 July 2011 Black Business News www.bbnews.org
Resources For Going Global
The U.S. Commercial Service - Your Global Business Partner. With offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce’s International Trade Administration uses its global Network and international resources to connect U.S companies with international buyers worldwide. If you have any questions about these initiatives, please contact your local U.S. Commercial Service trade specialist. To find the trade specialist nearest you please visit http://www.buyusa.gov/home/us.html.
International
Event: Export Controls: Application and Awareness Venue: Microsoft Conference Center, Redmond, WA Date: July 12-13, 2011 Cost: $195 Learn more/register: https://emenuapps.ita.doc.gov/ ePublic/newWebinarRegistration.jsp?SmartCode=1Q69 Do you need a firmer grasp of export controls and regulations to ensure your company is doing everything it can to comply with them? Join us for a July conference on export controls, hosted by Homeland Security Investigations, Microsoft and the U.S. Department of Commerce, Seattle U.S. Export Assistance Center. Raise your awareness of export controls and regulations and learn techniques to apply in your processes to help ensure you can avoid violations. Event: Export Compliance Workshop – Bureau of Industry & Security Venue: LAX Gateway Sheraton Date: August 10-11, 2011 More information or to register: http://www.buyusa.gov/ pacificsouth/bis.html The U.S. Commercial Service - Your Global Business Partner. With offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce’s International Trade Administration uses its global Network and international resources to connect U.S companies with international buyers worldwide. If you have any questions about these initiatives, please contact your local U.S. Commercial Service trade specialist. To find the trade specialist nearest you please visit http://www.buyusa.gov/home/us.html. Event: Discover Opportunities in South Africa Venue: Johannesburg and Cape Town Date: September 19-23, 2011 Learn more/register: http://www.export.gov/trademissions/ southafrica2011/ Registration Deadline: July 18, 2011 The United States Department of Commerce, International Trade Administration, U.S. and Foreign Commercial Service (CS) is organizing this trade mission. Led by a senior Department of Commerce official, this trade mission will introduce U.S. businesses and service providers to key business contacts and allow them to explore new business
opportunities. South Africa represents the largest economy and most sophisticated and diversified industrial and services sectors in Sub-Saharan Africa. The country also stands to benefit from rapid growth anticipated in many of its Sub-Saharan African trading partners. The mission will visit both Johannesburg and Cape Town, allowing participants to access two of the largest markets and business centers in the country. The itinerary consists of customized one-on-one business appointments with potential agents, distributors and partners, market briefings, and meetings with key government officials. For more information, please contact Teresa.Yung@trade.gov or telephone: 202-482-5496. AccessAmerica – Reach Chinese Investors and Clients “AccessAmerica” is our online Chinese-language directory of U.S. firms that provide customized services to Chinese investors and firms that want to do business in the U.S. The “AccessAmerica” Service Provider directory gives U.S.based companies and economic development agencies access and exposure to Chinese clients who seek U.S. expertise in global logistics, trade finance, HR, site selection, tax, insurance, legal and regulatory issues, marketing, and other support related to investing in the U.S. AccessAmerica is promoted extensively throughout China, featured on the U.S. Embassy Chinese webpage and featured at all Invest in America programs here and in China. Your listing will include company information, company logo, and contact details, all translated into Chinese, for a one-year subscription fee of $400. Increase your visibility in China and boost your service exports. Learn more: http://www.buyusa.gov/china/en/ access_america.html. For more information, please contact julie.carducci@trade.gov. Export Promotion Magazine Rolls Out Redesigned Website Exporters can take advantage of the newly redesigned Commercial News USA website to help them connect with buyers worldwide. The new website features a rotating carousel that highlights advertisers in Commercial News USA. International buyers can now search the site by keyword or by industry category. The site currently attracts more than 23,000 visitors per month. For more details and/ or to review the current issue of the magazine, visit http:// www.thinkglobal.us.
80 July 2011 Black Business News www.bbnews.org
AGOA 2011 Forum:
gramme (AWEP) was introduced under AGOA and in just a few months the grouping had already made remarkable strides. Mrs. Clinton announced that her government would contribute US$2million this year and next year to the grouping to enable them to continue their work. On the need for regional development, Mrs. Clinton said Sub Saharan Africa had the lowest intraregional trade and challenged the countries to engage in business between and among themselves before venturing out into the US market. Hon. Hillary She said that African reClinton, U.S. sources should benefit Africans Secretary of and emphasized that the US State government will elevate corruption as a major focus of its Mrs. Clinton, who is the first US Secdiplomatic efforts. retary of State to visit Zambia since Secretary of State, Hillary Clinton 1976 when her predecessor, Henry has said that Sub-Saharan Africa is Kissinger did so, reiterated that the now more ripe for massive investments Obama administration would work with and trade but challenged the countries Congress on a seamless renewal of to heighten moves towards regional the AGOA beyond 2015. integration to maximise the economic She said that between now and then, the eligible countries had a duty benefits. And Mrs Clinton, who yesterday ofto help in coming up with scenarios to fi cially closed the African Growth and convince the Congress on the need to Opportunity Act (AGOA) forum, said extend the Act beyond 2015 when it is the US government wanted the relascheduled to expire. tionship with developing countries to Mrs. Clinton said AGOA was all about be based on mutual partnership and the people of the eligiblecountries who not patronage. should be helped to attain better stanMrs. Clinton told the delegates to the dards of living through empowerment. just-ended AGOA forum at Lusaka’s Mrs. Clinton said it was for that reaMulungushi International Conference son that all stakeholders including centre that Africa had come a long way women and the youths should be acbut was now ready for increased intively involved in AGOA issues noting vestments and trade with the US and that by 2015, a quarter of the world’s the entire international community. young people would be residing in AfMrs Clinton, who is the first US Secrica. retary of State to visit Zambiasince She said women were still grappling 1976 when her predecessor, Henry with various barriers which made them Kissinger did so, reiterated that the fail to make it in their various ventures Obama administration would work with and that should be addressed. ”At the State Department, we have Congress on a seamless renewal of made it a priority to help women break the AGOA beyond 2015. Although this is Mrs Clinton’s first down these barriers. visit to Zambia as Secretary of State, Among our many efforts, we are she has visited Zambia before as First helping women entrepreneurs conlady of the United States of America. nect with potential partners around the
Sub-Saharan Africa Ripe for Business
S
world,”she said. She said that last year, the African Women’s Entrepreneurship Pro-
81 July 2011 Black Business News www.bbnews.org
By James Muyanwa www.times.co.zm/news/viewnews. cgi?category=4&id=1307786712
International
ecretary of State, Hillary Clinton has said the Sub-Saharan Africa is now more ripe for massive investments and trade but challenged the countries to heighten moves towards regional integration to maximise the economic benefits. And Mrs. Clinton, who officially closed the African Growth and Opportunity Act (AGOA) forum, said the US government wanted the relationship with developing countries to be based on mutual partnership and not patronage. Mrs. Clinton told the delegates to the just-ended AGOA forum at Lusaka’s Mulungushi International Conference Centre that Africa had come a long way but was now ready for increased investments and trade with the US and the entire international community. ”Although it still faces many challenges in many areas, the region is undeniably more stable, more democratic, and more prosperous than adecade ago.”Thanks to the hard work of the African people, productivity has beenrising. Consumer spending in the region is projected to grow by almost US$600 million and the GDP by US$1 trillion, in less than a decade,”she said. She said that in 2000, when her husband signed the AGOA into law, the chances of the Act bearing fruit in the Sub-Sahara Africa region were dismal and productivity was declining and there were 10 major conflicts while there were only four leaders who had peacefully handed over power to elected ones. Both sides, however, worked hard resulting in the quadrupling of exports to the US to US $4 million in the past decade without considering the figures from oil.
Zambia Welcomes Major Investment from Japan
H
International
is Excellency, Mr. Rupiah Banda, President of the Republic of Zambia, recently announced the construction phase of Japanese company, Hitachi Construction Machinery Zambia Limited in Lusaka, with an initial US$15 million investment. Hitachi is one of the world’s largest manufacturers of construction, mining and earthmoving equipment. This is the first ever investment into the manufacturing sector by a Japanese company and it is expected to add impetus to President Banda’s desire to create more jobs for the Zambian people. The President has expressed joy that Hitachi has picked on Zambia for its investment and that, as a regional hub of southern Africa, Zambia will provide valuable services to surrounding
countries. The first phase of the project is expected to be completed by December this year and, if successful, the company shall undertake an expansion programme that will extend the services to other major industrial entities in the region. Japan is one of Zambia’s largest cooperating partners and Hitachi’s ground-breaking investment is set to strengthen the two countries’ relations even further. Zambia was recently ranked among the top 10 countries worldwide that have improved the ease of doing business for local firms in the past year while The East African magazine ranked President Banda as the 12th best performing African president among the 52 on the continent.
Zambia’s Former President Frederick Chiluba Dies April 30, 1943 - June 19, 2011
You are invited to participate in one of two upcoming events to better understand the pending US/Korea Free Trade Agreement. Panel Speakers: • Bryant Trick, USTR Deputy Assistant for Korea • Joshua Pierce, Korea Desk Officer – Market Access & Compliance, US Department of Commerce • Bryan Erwin, Director, Trade Advocacy Center, US Department of Commerce • Wonsok Yun, Director General, Korea Trade Investment Promotion Agency (KOTRA) Thursday, June 16, 2011 – Presented by Women in International Trade – Los Angeles Moderator: Jim MacLellan, Port of Los Angeles Time: 11:00am-2:00pm Location: Torrance Holiday Inn, 19800 South Vermont, Torrance, CA 90502 Registration: www.wit-la.org/event_ detail_jun.asp Friday, June 17, 2011 – Presented by Bryan Cave LLP Moderator: David Stepp, Partner Bryan Cave LLP Time: 8:00am-10:00am Location: The Wilshire Hotel, 3515 Wilshire Blvd., Los Angeles, CA 90010 Registration: www.SignUp4.net/Public/ ap.aspx?EID=DOIN10E
T
he late President Chiluba’s spokesperson Emmanuel Mwamba confirmed the death of the former president who died at his resident in Lusaka’s Kabulonga area shortly after midnight on Saturday morning, June 19, 2011. Frederick Chiluba came to power as Zambia’s second president by defeating the nation’s first President Kenneth Kaunda in the first contested elections in the country for more than 20 years. Chiluba was the son of a copper miner, and was born in Kitwe, in what was then the British Protectorate of Northern Rhodesia. Under Frederick Chiluba, freedom
Understand the US/Korea Free Trade Agreement
of speech in Zambia flourished and its media became as lively as anywhere in Africa. Internationally, he helped broker a peace agreement in neighbouring civil war-torn Democratic Republic of Congo. Perhaps Frederick Chiluba’s greatest legacy is that he established a lasting principle of democracy in Zambian politics.
Panelist will be available for one-onone meetings with companies on June 16 & 17. For more information, please contact Terri Batch at Terri.Batch@ trade.gov or 310-882-1750. These events are organized in conjunction with the U.S. Commercial Service, Women in International Trade - Los Angeles, Bryan Cave LLP. Sponsorship is provided by FedEx with promotional support from the Port of Los Angeles, Los Angeles Mayor’s Office, and KOTRA.
82 July 2011 Black Business News www.bbnews.org
Export.gov
Trade Mission to South Africa
Sept. 19-23, 2011
T
83 July 2011 Black Business News www.bbnews.org
International
he United States Department of Commerce, International Trade Administration, U.S. and Foreign Commercial Service (CS) is organizing a Trade Mission to South Africa, September 19-23, 2011 (www.export. gov/eac/show_detail_trade_events. asp?EventID=31747&InputType=EV ENT). Led by a senior Department of Commerce official, the mission is intended to include representatives from a variety of U.S. industry suppliers and service providers with targeted industries being energy equipment and technologies, agricultural equipment, and educational services and skills development. South Africa is a country of 50 million people, rich in culture, people and natural heritage. With remarkable macroeconomic stability and a probusiness environment, South Africa is a logical and attractive choice for U.S. companies to enter Sub-Saharan Africa. Growth of South Africa’s consumer base also provides ample opportunity for U.S. exporters. With stops in Johannesburg and Cape Town, this trade mission will introduce U.S. companies to potential buyers and allow them to explore new business opportunities in the dynamic South African market. The mission will include one-on-one business appointments, briefings and evening receptions. The cost for a SME (fewer than 500 employees) is $2,125.00. The cost for a large company is $2,565.00. Each additional representative is $450.00. Pre-Register for this mission at: https:// emenuapps.ita.doc.gov/ePublic/newRegistration.jsp?SmartCode=1R1G
Contacts for this mission: Larry Farris, Johannesburg Senior Commercial Officer Phone: 27 11 290 3316 Larry.Farris@trade.gov Teresa Yung, Trade Event Programs International Trade Specialist Phone: 202-482-5496 Teresa.Yung@trade.gov.
First Lady’s Trip to Southern Africa
International
US First Lady Michelle Obama and her daughters met with 92-year-old Nobel Peace Prize winner
seum in Johannesburg. The First Lady, along with daughters Sasha and Malia, read “The Cat In The Hat” to children at the Zandspruit Township Daycare Center during an event at the Emthonjeni Community Center in Johannesburg. Before the museum tour, the First Lady met the 75 young women Youth
ABOVE: Ms. Michelle Obama with former President Nelson Mandela at his home. First Family arrives BELOW: South African First Lady Ms Nompumelelo in South Africa Ntuli-Zuma welcomed First Lady of the United States Michelle Obama at Mahlamba Ndlopfu in Pretoria on a he United States First Lady Nelson Mandela after visit to South Africa Michelle Obama today visited a visit to the the Nelson Mandela Centre M a n d e l a of Memory in Johannesburg on the Foundation. M r s . first leg of her trip to South Africa and Obama, her Botswana. daughters, Accompanied by her mother Marian a Robinson, her daughters Malia and mother, niece and Sasha and her niece Leslie and her nephew Avery, Mrs Obama met n e p h e w members of Nelson Mandela’s family were all welcomed into and his wife Graca Machel. Sello Hatang and Sahm Venter, the M a n d e l a ’ s co-editors of the soon to be released home in the book Nelson Mandela By Himself: The H o u g h t o n Authorised Quotations Book presented neighbourhood of JoMrs Obama with an advanced copy. Mr Hatang and the head of the Nelson hannesburg. are Mandela Centre of Memory Verne Visits increasingly Harris showed the First Lady a display of archival items housed in the Nelson rare since Mandela Centre of Memory including M a n d e l a prison desk calendars, notebooks and was hospidraft letters. She was introduced to talised with an acute respiratory infec- Leaders she will be adressing later. tion in January. These women came from across Africa Senior Archivist Razia Saleh. First Lady Michelle Obama, along and are the reason we are here. These Mrs. Obama expressed appreciation with daughters Sasha and Malia, women have personal and professional for the display, and said “You are doing toured the exhibits at the Apartheid Mustories that will blow you away - there very important work”.
T
84 July 2011 Black Business News www.bbnews.org
First Family at the Apartheid Museum
was a lot of mutual-admiration in the room, and the First Lady made sure to tell them how inspiring these women were to her! Speaking at Fuller Hall at the University of Cape Town (UCT) to over 50 pupils from five schools across the city, Michelle Obama said people of the world were looking to South Africa to become a world leader and that many Americans were behind the country. US First Lady Michelle Obama on Thursday praised South Africans who had grown up under apartheid, overcome the oppressive system and built a country based on equality that had
blue and black flag of Botswana. While in Gaborone, the First Family joined in to help paint a mural on the wall of a new clinic under construction that treats children living with HIV/Aids. The disease is a major public health challenge in Botswana, a country of 2-million people, including about 300 ,000 people living with HIV/Aids. The first lady is promoting health and wellness on her visit, with a special emphasis on HIV-prevention. The first lady then headed to lunch with women leaders from different generations. She will meet with President Ian Khama before taking the family to dinner at a nature park. allAfrica.com AP Photos White House Photos
First Family arrives in Botswana 85 July 2011 Black Business News www.bbnews.org
International
U.S. First Lady Michelle Obama and Archbishop Emeritus Desmond Tutu showed off their football skills while visiting Cape Town Stadium
become a role model for the rest of the world. Obama said through hard work the youth of today could achieve their dreams. “There is no magic dust that helps students achieve at a place like this, now-adays it is more how hard you can work and more importantly it’s about believing in yourself every step of the way.” She said even after getting accepted at a top school, despite her disadvantaged background, she still had doubts she could succeed, until she began seeing that she was performing just as well as others. Ms. Obama and her family started the second leg of the Africa visit in Gaborone, Botswana. They were welcomed with a performance of traditional African dances performed a group of children ages 6 to 18. The children wore traditional costumes of hide and sang to the family in greeting. They were also greeted by a group of children waving the American flag and the
Custom Culturally Inspired Wedding Rings & Fine Jewelry For The Entire Family. Unique One of a Kind Pieces Create your own designs. Transform old into new.
JendayiCollection.com 323.898.7468 877.898.7468 Baldwin Hills Crenshaw Plaza, First Floor
“A FEW NOTES ON AFRICA” Ethiopia to Host 2012 World Economic Forum on Africa Ethiopia will host the next World Economic Forum’s Africa meeting a year from now (May 2012). At a press conference in Cape Town, Deputy Prime Minister Hailemariam Desalegn said he is delighted that the WEF - host of a high-level global conference in Davos, Switzerland, each January - has chosen his country for its annual Africa conference. He said all attendees, including journalists, will be welcome.
Treat Small Farms as Businesses The International Fund for Agriculture Development (IFAD), focuses on agriculture and rural development, so we work only in rural communities in the developing world. Our experience has been that poor rural people are not waiting for a government handout. They want to be able to have opportunities to enter into economic activity. 60% of the African population is below the age of 24. So we focus on youth on the premise that if you invest in agriculture and rural development, you are able to transform the rural space into an economically viable space. Not only do you transform the community, the rural space, but you also stem the migration into urban areas.
Genetic Discovery Could Benefit Farmers Scientists have discovered two genes in cattle that may help African farmers improve their livelihoods by preventing premature deaths in their herds from the trypanosome parasite that causes “sleeping sickness”. The illness causes an estimated U.S.$5 billion in livestock losses annually for African farmers across an area roughly the size of the United States. The zone stretches from Senegal on the west coast to Tanzania on the east and from Chad in the north to Zimbabwe in southern Africa. It is known as the “tsetse fly belt” after the insect that transmits the trypanosome parasite. The parasite is best known for causing
Liberia Exports Iron Ore Dr. Kanayo Nwanze, President of IFAD In Africa, the majority of farm activities are conducted by women, so we focus on women’s empowerment. We invest in capacity building of the individual and the communities - particularly farmer organizations, women’s organizations - to build their own institutional framework and governance structures, so that they themselves can be able to enter into advocacy with their community leaders. That’s empowerment.
The first ore mined in Liberia in more than 20 years is part of a ‘test’ run to market before regular shipments begin in July 2011. Some 5,000 people have been employed during the construction phase of the mining project, he said. The workforce required for mining and export operations is about 500. Once full-scale operations begin, output is projected to total four million tons per year http://allafrica.com/photoessay/Ore/#photo SEE YOU ON THE CONTINENT.
87 July 2011 Black Business News www.bbnews.org
International
Ethiopia is predicted to have one of the world’s fastest growing economies over the next decade. Among the reasons for holding its Africa forum in Addis Ababa, said a WEF spokesperson, are that it is a diplomatic hub - including hosting the African Union, it is extending development to the rural poor, with lessons for the rest of Africa, and it has never been colonized.
illness in humans, but the more devastating effect on Africans has been on their cattle and livelihoods.
Because of the success of rural financing projects in Benin, the government in 2006 established a ministry of rural finance within the ministry of finance, headed by a woman. In many communities in the developing world - not only in Africa - women are not entitled to land. In Ethiopia, we worked with the government to support communities where women have the right to land, just as their husbands. The overarching issue for us here is the role of smallholder agriculture in food security. Eighty percent of farmers in the developing world, Africa included, are smallholder farms owning less than two hectares. You cannot bring about a transformation of agriculture and food security without smallholder population being part of the solution. We must stop looking at smallholder agriculture as a way of life where people have been condemned to poverty. Smallholders, whether they are farmers, or fishermen and women, or foresters, are engaged in an economic activity at a subsistence level. If we see this activity as a business that needs to make a profit, our role therefore is to say, ‘How can we transform this business into a profitable entrepreneurship? What is gratifying for me is that a few years ago you would not hear people talking smallholder agriculture as a business. At the World Economic Forum on Africa, I heard over and over again where top government officials and the private sector have come to recognize that global food security cannot be achieved without the engagement of smallholder agriculture. I think that is the message: governments should invest in agriculture as a business and create the environment for smallholders to enter into economic activities that are profitable.
JWFA
Jamaal Wilkes Financial Advisors, LLC M a n a g i n g We a l t h I n t e l l i g e n t l y
WHY OWN GOLD IN YOUR IRA/401k Changing jobs creates a great opportunity for you to switch, or rollover, your former employer’s retirement plan into an IRA. Plus, it usually provides you with more investment options than if you left the money in your former employer’s plan or rolled the money into your new employer's retirement plan. The early 1980s presented a once-in-a-lifetime opportunity to buy stocks. Today, economic and political conditions appear to offer a similar opportunity in tangible assets such as physical gold. With the global economic environment growing more uncertain, physical gold has become the #1 alternative for IRA, 401k, 403b, and Pension Plans, as well as for non-retirement funds. Gold is produced primarily for accumulation while other commodities are produced primarily for consumption. Gold’s value does not arise from its usefulness in industrial or consumable applications. It arises from its use and historical worldwide acceptance as a store of value. Gold is money. A healthy measure of gold clearly belongs in every portfolio for the “Four Ps” – Personal Purchasing Power Protection. There are six primary reasons why investors own gold: As a hedge against inflation. As a hedge against a declining dollar. As a safe haven in times of geopolitical and financial market instability. As a commodity based on gold’s supply and demand fundamentals. As a store of value. As a portfolio diversifier. According to Bloomberg.com, on October 15, 2009, Paul Tudor Jones of Tudor Investment Corp, who manages about $11.6 billion out of Greenwich, Connecticut, told its investors, “I have never been a gold bug… but Gold is just an asset that, like everything else in life, has its time and place. And now is that time…Gold appears to be cheap. In our view, gold’s value should increase as its scarcity relative to printed currencies increases.” JAMAAL WILKES FINANCIAL ADVISORS makes 401(k) rollovers easy with just a few simple steps. Please call us at (310)209-8298 or email gold@jamaalwilkes.com for a web seminar presentation. Jamaal Wilkes Financial Advisors is an independent Registered Investment Advisor www.jamaalwilkes.com Phone: (310)209-8330 6601 Center Drive West, Suite 500 Los Angeles, CA 90045
Advertorial-Jamaal Wilkes Financial Advisors, LLC:
Are We Running Out of Silver? Excerpt from the Casey Research 2011 Silver Investing Guide
S
ilver has been on fire over the last three years — substantially outperforming its spotlight-grabbing cousin, gold. Because we believe this bull run is far from over, we advise investors to always maintain exposure to the precious metals markets. Even if you haven’t yet participated in the run-up of both gold and silver, I’m glad you’re ready to take a look at the investment potential of silver. The question every investor faces in a bull market is: Do I buy now, anticipating prices will continue higher — and chance getting clobbered if a correction arrives? Or do I wait for a pullback and possibly miss out on big gains? There’s risk either way. Our goal in this report is to suggest various ways you can invest in silver, while underscoring the importance of patience and discipline. Investors must remain patient to avoid chasing silver, overpaying, and draining their cash. Instead, we recommend that you use temporary price declines to steadily accumulate the best silver stocks and your preferred form of bullion. Looking back after this bull market has finally run its course, we think gold and silver will have amply rewarded those who bought smart, had meaningful exposure, and stayed the course. Silver: The Lay of the Land There is ample data on the silver market to consider, but there are two specific issues regarding supply and demand that are critical to understand. The first is industrial use. Demand from a number of industries that use silver has been flat or falling. Household demand for silver like cutlery, flatware, and candlesticks hasn’t risen in ten years. Jewelry fabrication is up but a blip. With the shift to digital photography and image storing, use in photographic film processing continues to fall. And yet, total demand from industrial users keeps climbing. So what’s driving industrial demand? Uses for Silver Are Growing Since 1999, consumption in electronics has increased 120%. Silver use in solar panels began in 2000, and usage is up 640% since. Silver was first used in biocides (antibacterial agents) in 2002 and, while a small percentage of total silver use, it has grown six-fold. The point is that not only are the number of uses for silver growing, the demand within each of those applications is rising as well. This is important to keep in mind because, traditionally, the industrial component of silver tends to keep the
price soft in a poor economy – and Doug Casey is convinced we’re on the cusp of the Greater Depression. However, these increasing sources of demand are now more likely to keep a floor under the price in the future. In fact, the Silver Institute forecasts that total industrial use of silver will rise by 36% over the next five years, to 666 million troy ounces/year. That’s a lot of silver, meaning this portion of demand, which is roughly 60% of all fabrication, isn’t letting up anytime soon. The second issue is mine supply. Silver mine production has been increasing over the past decade, largely due to rising prices, allowing companies to ramp up production and bring more metal to the market. In fact, global mine production is up 33% since 1999. Meanwhile, total demand, as you’ll see in the chart below, is also rising. Mine Production Can’t Keep Up with Demand So what’s the concern? In spite of miners digging up more and more silver, production alone can’t meet global demand, and the gap has to be filled by scrap silver coming to market. And there’s a catch with scrap. While scrap metal com-
89 July 2011 Black Business News www.bbnews.org
Introducing the... AFRICAN AMERICAN ENGAGEMENT COLLABORATION
Sponsored by the National Black Business Council (NBBC) Black Business Association (BBA) & California Black Chambers (CBC)
Hosts of the new business resource websites:
Join us for
TheArtofBidding.com BlackSuppliers.com
EVERY 2nd Thursday of Each Month Presented by the National Black Business Council (NBBC)
The New Townhouse 6835 La Tijera Boulevard, Los Angeles, CA 90045
For more information call:
310.568.5000 90 July 2011 Black Business News www.bbnews.org
Silver from page 89
prises about 20% of silver’s total supply, many of these new applications are difficult to reclaim. Some applications contain such small amounts that they’re uneconomic to recapture, such as many biocidal and nanotechnology applications. With others it’ll be a long wait. Solar panels, for example, have a 20- to 30-year life. Still others are waiting on more effective recovery programs; more than half of all silver in cell phones, TVs, computers and other electronics, for instance, still ends up in landfills. In other words, a growing portion of the silver that’s consumed won’t be returning to the market anytime soon.
JAMAAL WILKES FINANCIAL ADVISORS Process to BUY Gold & Silver with Qualified Funds: 1. We use Sterling Trust, a division of Equity Trust Company, a national leader among IRA custodians that hold precious metals in IRA accounts. As an industry leader, Sterling Trust and its affiliates, provide services to over 140,000 individuals and businesses nationwide whose assets exceed $10+
billion; 2. A Sterling Trust Self-Directed Precious Metals IRA is established for your Client, or accountholder, the IRA annual fee of $75, a 1-time set up fee of $50, and first year gold storage fees of $125 totaling $250 are paid, and Sterling Trust receives the transfer, rollover, or contribution of funds into the IRA. A Precious Metals IRA kit and forms are available on-line at: www.SterlingTrustCompany.com; 3. We will consult and advise Accountholder on how to structure their investment in gold (precious metal bullion products). Preliminary Buy Order Quotes will be in writing by email and/ or fax to Accountholder, or the Accountholder’s designated representative; 4. JWFA will provide Accountholder
Introducing...
SoLaTea House presented by
Cultural Interiors West & Lucy Florence Cafe
Now Open for Business! 5669 W. Pico Blvd., Los Angeles vabeard@gmail.com 562-253-6347 Featuring High Tea, Princess Parties, Sunday Brunch and much more! A nice, quiet place to study or just want to grab a cup of tea? We offer free wi-fi to all customers and a variety of teas to suit your mood. You may also enjoy a warm slice of gingerbread cake, a delicious scone, or one of our scrumptious cupcakes. Our tea house features adequate space for groups up to 20 persons, with catering services for your next event. (Please call for more information.)
with an itemized invoice that shows the type and quantity of gold (precious metal bullion products) purchased and the respective purchase price which must be signed by Accountholder, or Accountholder’s designated representative, and payment instructions must be provided to Sterling Trust. Accountholder faxes invoice to Sterling Trust IRA Services group; 5. Sterling Trust will issue payment to JWFA following the instructions provided by the Accountholder which will include shipping/delivery instructions to its depository within the Delaware Depository Service Company (web: www.DelawareDepository.com). Please contact me at (310) 209-8298 or jkw@jamaalwilkes.com with any questions. Thank you.
Give the Gifts of Knowledge, Inspiration, Entertainment. Shop the
Black Book Stores!
Eso Won Books African American Books 4331 Degnan Ave., Leimert Park, Los Angeles “Give Books as Gifts to Friends & Family” Check out our unsurpassed collection of books, music, video, children’s books, and games!
323-294-0324 www.esowonbooks.com
Malik’s Books Online
M
alik’s Books has closed operations in the Baldwin Hills Mall. Malik’s is now operating as an online bookstore. Malik’s is now available to serve our customer’s needs 24/7 via the world wide web with bigger deals and a larger selection. We will remain as active in the South Los Angeles community as we have always been. Please visit us at www.Malikbooks.com and/or www.autographbooks.com. For other information give us a call at 818-5645694. If you want to coorespond with us, send letters to Malik’s Books, 3939 Crenshaw Boulevard, #324, Los Angeles, CA 90008. Thank You again for all your support and patronage over the years and visit us on the Web.
Malik’s Books
//esowon.booksense.com for Calendar of Events A Positive Economic Turn Around in the USA is in Our Hands
www.Malikbooks.com www.autogrpahbooks.com malikbooks@att.net 818-564-5694
•Buy Products Made or Assembled in the USA •Hire One New Employee •Eat an Extra Meal Out Each Week •Start/Grow a Business to Generate Wealth & Jobs
Buy Black Save Black Invest Black 92 July 2011 Black Business News www.bbnews.org
Books to Consider... t
Walter & Albertina Sisulu In Our Lifetime
by Elinor Sisulu Born only miles apart in the Eastern Cape hinterland, Walter Sisulu and Albertina Thethiwe went on from these humble beginnings to become two of South Africa’s most respected and beloved figures. For over five decades they were at the forefront of the struggle against apartheid and the injustices it wrought on black South Africans. Celebrated writer Elinor Sisulu, daughter-in-law of the Sisulus, has had unrivalled access to her subjects and to personal and family letters, as well as previosuly classified documents from the security police and prison files. Elinor details not only the history of their political battles against apartheid but also the marriage that lasted until Walter’s death at the age of 90. This is the definitive biography and moving story of an inspirational couple. “There can be no greater and more inspiring example in the history of our organisation, and hence of our country, than Walter and Albertina Sisulu: a couple whose every deed speaks of leadership that made the kind of differ-
ence that brought us to where we are today as a country and as a people... It is time that this story of our nation be told.” (Nelson Mandela, from the Foreword) “Sometimes it’s the small things when you look at a great political leader or a great person and ask how they managed to achieve what they did, it’s sometimes very mundane things which made them able to go, and it was support from ordinary people.” However, there was little mundane about the relationship between the two. Activists Walter first met Albertina in the 1940s, when he moved to Johannesburg, where Albertina was working as a nurse. They came from the same area so they had a lot in common - Albertina was also from a peasant family, and also from a family where sharing was emphasised, where the emphasis was on making everybody feel welcome. “They shared that ideal - and then later they shared a political ideal. “He always admired strong women, so he admired Albertina’s strength very much, and always celebrated it.”I think that was important for their relationship.” Housework Elinor also stressed that Walter’s view of women - extremely radical at the time - had also been important in sustaining the couple’s relationship. “He had quite an unconventional attitude towards women and relationships - he believed strongly that women should be able to participate in the public arena, that they should participate in politics, and that in the home they shouldn’t be constrained or pressed in any way,” she said. “So even in the ‘50s he was the person who thought nothing of doing housework. Indeed, Albertina was very much an activist in her own right, and kept the family together while Walter was imprisoned for 26 years. From August 1964, she was banned from meeting more than two people at a time due to her activism. There were also legal re-
strictions placed on her movements. In total, these restrictions were in place for 18 years - but Ms Sisulu added her mother-in-law had still been able to remain active. “She somehow managed to operate in a very discreet way,” she stated. “She was the type of person who would keep a confidence until death, so people felt really safe dealing with her.” There was great joy when the couple were reunited in 1989 following Sisulu’s release from prison. “That was one of the most special experiences in all our lives,” Ms Sisulu said. “Yet when it happened we really could scarcely believe it.” A year later Sisulu’s best friend Nelson Mandela was released from prison, and South Africa was well on the way to full democracy and the end of apartheid. Walter finally died in October 2003, two weeks before his 91st birthday - in the arms of the wife he had been with for 60 years.
For information and to order visit News From Nowhere, www.newsfromnowhere.org.uk/books/DisplayBookInfo.php?ISBN=034911711x.
93 July 2011 Black Business News www.bbnews.org
Legal Notice
If You Have or Had Medi-Cal or Medicare and Filled a Prescription in 2008 at a Pharmacy Other Than Target Your rights could be affected by a class action settlement
Shop, Eat, Relax in
Little Ethiopia
Experience Africa in America
Culture, Retail, Entertainment
A settlement has been proposed in a class action lawsuit called Rodriguez v. NDCHealth Corporation (Case No. 2:10-CV-3522), which is pending in the United States District Court for the Central District of California.
Fairfax Boulevard
Who Is Included? You are included in the Settlement as a “Class Member” if you live in California and (1) you obtained prescription drugs or related services from pharmacies other than Target Pharmacy between February 1 and December 31, 2008 (a “Non-Target Prescription”), (2) you were a Medi-Cal or Medicare cardholder at the time, and (3) you were included in a group of people whose Non-Target Prescription claim information was transferred to Target Pharmacy by a company called RelayHealth in October and November 2009. You can find out if you were included in this group by contacting the Settlement Administrator. What Is The Case About? The lawsuit claims that NDCHealth Corporation, more commonly known as RelayHealth, and McKesson Corporation (both called the “Defendants”) violated California law by transferring the Non-Target Prescription claim information to Target Pharmacy. Defendants deny that they broke the law and strongly deny they did anything wrong. Summary Of The Settlement Under the Settlement, which must be approved by the court, RelayHealth will put additional protections in place to help prevent future transfers of confidential medical information to unauthorized persons or companies. A list of the protections RelayHealth will put in place can be found at www.RXprivacyClass.com or by calling 1-888-270-9628. The Defendants have also agreed to pay $4,000,000 into a fund for patient and medical privacy purposes. After paying certain administrative fees and expenses, including court-approved payments to the class representatives and court-approved attorneys’ fees and expenses (which will not be more than 25% of the total of the $4,000,000 plus the administrative expenses), the money will be distributed to one or more organizations that focus on patient or medical privacy issues. THE SETTLEMENT DOES NOT PROVIDE FOR ANY MONEY TO BE PAID TO INDIVIDUAL CLASS MEMBERS (EXCEPT FOR THE CLASS REPRESENTATIVES WHO BROUGHT THE LAWSUIT).
between Pico & Olympic Los Angeles
Leimert Park Village An African American Cultural, Retail, Foods & Entertainment Center. Degnan Boulevard between
Do I Have A Lawyer? Yes. The court has appointed lawyers to represent Class Members (“Class Counsel”). You will not be charged for these lawyers. The lawyers appointed as Class Counsel are: Marcarian Law Firm, 15260 Ventura Boulevard, Suite 2250, Sherman Oaks, California 91403, (818) 995-8787. What Should I Do? You should get more information from the Settlement Administrator and make a decision about your legal rights. As a Class Member, you have three options. (1)You can do nothing. You will remain a Class Member. You will be bound by the court’s decisions in the lawsuit. You will not have the right to sue separately about the issues in the lawsuit. (2)You can remain a Class Member but object to the Settlement. You will be bound by the court’s decisions in the lawsuit. To object you must send, via first-class mail or overnight delivery, a written letter identifying yourself as a Class Member and explaining why you object. Your objection must be sent to the Settlement Administrator (not the court) and be postmarked no later than April 23, 2011. You may also choose to pay for and be represented by a lawyer who may send the objection for you. (3)You can exclude yourself from the Settlement completely and preserve your right to file a separate lawsuit by mailing a request form to the Settlement Administrator (not the Court). The form is available from the Settlement Administrator and must be postmarked no later than April 23, 2011. Can I Get Money From The Settlement? No, there is no money available to individual Class Members. Fairness Hearing The court will have a hearing on June 13, 2011 at 1:30 p.m. to decide whether to approve the Settlement. Class Counsel will represent the Class Members at the hearing or, if you object to the Settlement, you can have your own lawyer represent you at the Fairness Hearing at your expense.
For more information, contact the Settlement Administrator:
Visit: www.RXprivacyClass.com Call: 1-888-270-9628 Write: Prescription Privacy Settlement, Rust Consulting, Inc. P.O. Box 2438, Faribault, MN 55021-9138
94 July 2011 Black Business News www.bbnews.org
Crenshaw & Leimert Blvds. 43rd Street-43rd Place, Los Angeles
Bernahu Asfaw or Getahun Asfaw
1041 S. Fairfax Avenue Los Angeles, CA 90019
323-938-8827 or 323-938-8806 Fax: 323-932-6047 messob@gmail.com • www.messob.com
Open 7 days a week 11am - 11pm
Rooibos Tea House
African Red Tea Imports
323-658-7832 533 N. Fairfax Avenue Los Angeles
www.africanredtea.com Nira Levy Maslin, CEO
A Royal Blend of all natural West African herbs and fiery spices www.kingspepper.com 323.291.4267
Before you grill, Before you bake,
Buy King’s Pepper
& Shake, Shake, Shake! 95 July 2011 Black Business News www.bbnews.org
Artwear Artwear may be found at: Sika’s / 4330 Degnan Ave., Leimert Park Baldwin Hills Plaza Farmer’s Market each Saturday 10am-3pm
www.gbabyartwear.com
Choose to care. Choose to celebrate. Choose to dream. At Comerica Bank, we choose to care about the dreams and visions of Dr. Martin Luther King, Jr. We choose to celebrate equality and diversity among all people, and we’re dedicated to ringing the bells of freedom. Choose to celebrate the dream with us.
Crenshaw 3825 Crenshaw Boulevard Los Angeles
El Segundo 2321 Rosecrans Avenue El Segundo
Wilshire-Crescent Heights 6301 Wilshire Boulevard Los Angeles
800-888-3595
Member FDIC. Equal Opportunity Lender.
www.comerica.com
96 July 2011 Black Business News www.bbnews.org
BLACK MEETINGS & TOURISM LAUNCHES DIGITAL MAGAZINE
T
he digital version of Black Meetings & Tourism magazine is now available on-line. The current issues, as well as archived issues, can be viewed by visiting www.blackmeetingsandtourism.com and click on the image link located on the home page. The digital version is just a small part of BM&T’s expanded on-line presence, which includes a host of new departments, the twice-monthly e-newsletter, an increased focus on leisure travel, and many new marketing opportunities. Our newly designed website offers a guest blog page, a video page and a variety of interactive and custom advertising products that will allow vendors direct access to the more than 45 billion dollar African-American travel market.
International Edition
Tuesday, July 12th
Black Business News
“For everyone interested in doing business with Metro”
Watch & Support the Africa Channel! Time Warner • Comcast Don’t have the Africa Channel in your area? Call Time Warner at: 1-888-892-2253 and ask that the Africa Channel be broadcast to ALL regions of your state. For information on the Africa Channel visit www.theafricachannel. com or send an e-mail inquiry to info@theafricachannel.com.
View the International Edition at www.bbala.org and www.blackbusinessnews.net
97 July 2011 Black Business News www.bbnews.org
Reach Thousands of African American Entrepreneurs
U.S. Small B usiness Adm LA/Minority inistration & Business Op portunity Co mmittee
YOUR LINK TO AFRICAN AMERICAN BUSINESS OWNERS
AWARD WI NNER! 2007 “Journ alist of the Ye ar” 2009 “Media Firm of the Y ear”
The Black Business News, an award winning publication, is pleased to invite you to be an integral part of our information community Your Link to African American Business Owners. The Black Business News is the ofÀcial voice through which public and private entities advertise contract and business opportunities available to African American entrepreneurs. Gain access to a highly afÁuent target market via outreach and advertising opportunities. • Outreach to Black Businesses • Advertorial/Feature Story Advertising • Profiles and Business Listings • Classified Ads and Bid Opportunities
Black Business News
Our readers are members of business associations, Black business owners, corporate buyers, prime contractors, community organizations and elected ofÀcials, who all turn to the Black Business News for business development news and information to take their business and project efforts to the next level of proÀtability and success!
No
In Th vember 2008 is Iss ue…
5 Co ver S tory: we g Wher o e do Barack from h er Obam USA. a, 44th e? Preside 6 Bla nt of the ck Bu si Profi ness le Succ Dicker ess 9 Fo son Employee reclo sure Benefits $8.68 R 31 Sm Billion Settleme elief nt. all Bu sin Adm inistr ess Online Train ation
Don’t be left out. Advertise in this door-opening publication.
Reserve Your Ad Space Today! Call Tony Hayward 949-798-9844
ing for
Exporte rs
Deadline: Every third Friday of the Month! Special Offer: 50% Discount for Regular Financial BBA Members Advertising Opportunities (1x, 3x, 6x, 12x) Full Page Color w/Feature Story Full Page Color Half Page Color w/Feature Story Half Page Color Quarter Page Color Eighth Page Color Website Advertising Opportunity (1x, 3x, 6x, 12x) Webpage, Link & Marketing Message E-Blast Advertising Opportunity Issue Dedicated Marketing Message
Presid
The H o ent-E norable B ar lect o f the U ack H. O bama, nited States of Am er
ica
Ad Type Measurements Full Page 10.25”x12.75” Half Page 10.25”x 6.75” Half Page 5.00”x12.75” Quarter Page 5.00”x 6.75” Eighth Page 5.00”x 3.00”
For detail advertising rate information contact: Advertising Services at 949-798-9844 E-mail: mail@bbala.org
Calendar July… 13th Smal Business Contracting Connections Supervisor Mark Ridley-Thomas announces the Small Business Contracting Connections on July 13th from 8:00 am to 12:30 pm at the University of Southern California Tutor Campus Center – Grand Ballroom (on USC campus). Parking available at USC - $8.00. No cost to attend but pre-register on-line at www.laosb.org. Click on the Events & Training Courses Link Office of Small Business/PTAC or call toll free: (855) 230-6430.
18th-22nd Chamber Management Training The US Black Chamber School of Chamber Managemnt will conduct a training program at the University of Phoenix Washington, DC Campus entitled “Promoting Chamber Growth, Efficiency and Influence”. Learn more by emailing kathleen@usbci.org or visiting www.usbci. org.
bab&oeidk=a07e40qsfgx6460ebd4.
August… 12th-14th West Coast Expo
19th Navigating Global Economic Challenges Los Angeles Area Chamber of Commerce, Chase Bank and the Global Initiatives Council will conduct a special briefing on Foreign Exchange Risk Management from 9am to 10:30am in the Board Room of the chamber headquarters at 350 S. Bixel Street, Los Angeles 90017. For more information and to RSVP visit www.lachamber.com and view the Events Calendar or Events Registration sections.
28th 2nd Annual Small Business Development Technology Summit Presentations from HP, Cisco and Symantec will provide insight on technology solutions to help you improve productivity and grow your business! This year we have added a special presentation on Social Media for your business. You don’t want to miss it! Entrance is complimentary but RSVP is required. The event times are 8:00 a.m. - 12:00 p.m at Long Beach City College, 4901 East Carson, T1200, Long Beach, CA 90808. RSVP at http://events.r20. constantcontact.com/register/event?llr=hzelqy
For details on the event and to make contributions contact the Washington, DC Martin Luther King, Jr. National Memorial Project Foundation, Inc., 401 F Street, NW, Suite 334, Washington, DC 20001, 1.888.484.3373, www.dedicatethedream. org, www.mlkmemorial.org.
September… 19th-23rd West Coast Expo (WCE) is an exposition and trade show for small, medium, and large businesses with goods, products and services to market on the West Coast. Our featured pavilions: Business, Technology, Green Life, and Health & Beauty will offer attendees unique, informative and exciting opportunities to interact with experts, specialists and vendors enabling them to learn about, evaluate, test and purchase products and services. Visit www.westcoastexpo.biz for detailed information.
28th Dr. Martin Luther King, Jr. National Memorial Deducation Ceremony
Trade Mission to South Africa The US Department of Commerce, International Trade Administration, U.S. and Foreign Commercial Service (CS) is organizing a Trade Mission to South Africa, Sept. 19-23, 2011 (www. export.gov/eac/show_detail_trade_events. asp?EventID=31747&InputType=EVENT). The targeted industries are energy equipment and technologies, agricultural equipment, and educational services and skills development. For information or to register to participate contact Teresa Yung, Trade Event Programs International Trade Specialist, 202-482-5496 or Teresa.Yung@trade.gov.
99 July 2011 Black Business News www.bbnews.org
Black Business News Black Business News International • Get the News You Need • Find the Information that will Make a Difference • Promote Your Business to The BBN Community • Send Your Contact Information to info@blackbusinessnews.net and we will send BBN and BBN-I to You Name News Black Business Compamy Industry Website E-mail ion
International Edit
l African Economic
Serving the Globa
Community
Fall 2008 USD$5.00
Contents
g: EOY charitable Corporate Givin houshealth, education, opportunities in ing, and more.
in Africa’s tour-
t Tourism: Investment vital and is eviden ism industr y is active, nt. all across the contine
Feature Articles: Constructisve “Strategies For the Engagement with African Diaspora” gement: “Diaspora Enga Beyond” Remittances &
le: Moyo District InvestmentofProƤ Uganda of the Republic
tory Professional Direc tments
Charitable Inves
twins recently orpaned , III in Ghana with Rev. Leon R. Perrysee Corporate Giving page 21