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Publisher’s Message Earl “Skip” Cooper, II
“Get Ready to Grow in Twenty-Twelve” Black Business News Blalack Business News 011 22001 alll 201 Fall 5.00 5.0 D$$$5.0 D USD
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Welcoming Committee President an d Ms. Obama with Z a m b i a ’s A m bassador Ma dam Sheila Siwel a
Contents
Black Women Making neSoweuthstSuNNadadaattioin,nonthe Great Strides in Business
page 28 en Impact Investm page 34 rgyy Sustainable Ene ca page 38 ica fr A Afri h th t u ut o Sou So rs Ms. Obama Tou page 48 ortt The Wealth Rep
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page 45
In The Spotlight 32 T d
32 I The Spotlight
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s we wrap up 2011, and look forward to a promising 2012, the Black Business News Group wishes to celebrate, inspire, and acknowledge high-growth African American entrepreneurship throughout the nation. During the upcoming year, the Black Business News Group will continue to bring together an alliance of entrepreneurs, corporations, universities, foundations, and other leaders, working in concert with a wide range of opportunities in both the private and public sectors to dramatically increase the prevalence and success of American African entrepreneurs. One of the core goals of our publication set is to promote innovative strategies for achieving sustainable growth and access to local and international markets. The objectives are to: • assist with increasing the number and scale of new high-growth African American firms that are creating
story begins on page 6 Impact Investm en page 28 Sustainable Ene rgy page 34 Ms. Obama Tou rs South Africa page 38 The Wealth Rep ort page 48
economic growth, innovation, and quality jobs; • celebrate and honor entrepreneurship as a core American value and source of competitive advantage; and • inspire and empower an evergreater diversity of communities and individuals to build great American companies. While there is much discussion as to the outcomes of current and future political races, from the national to local levels, for most small and minority owned businesses the greater emphasis is: • what is your competitive position in the marketplace, • where can you secure adequate capital for future development, and • access to decision-makers. Regardless of who is elected to political office and what party lines are drawn, business owners always keep a firm eye on their bottom line. Business Accelerator Thrust The Black Business News Group
applauds the Black Business Association (BBA), headquartered in Los Angeles’ for its mentorship program. In partnership with U.S. Small Business Administration and a host of corporate stakeholders, the BBA has established an integrated business accelerator program focused solely on helping African American business owners launch and sustain their own businesses. The first accelerator program offers an interactive website that provides a comprehensive roadmap of the starting a small business and provides assistance in utilizing the diverse set of resources available to support Black entrepreneurs. Visit this valuable website at www.bbala.org. HAPPY NEW YEAR!!! Again, on behalf of all at the Black Business News Group - Black Business News, Black Business News International and the upcoming Black Business News Travel Africa, we wish you a tremendously successful 2012!
3 January 2012 Black Business News www.blackbbusinessnews.net
About the 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: •
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increasing the use of business enterprises owned by USA-based blacks, by advocating for greater access to leading finance lenders and successful business managers. working to merge resources, values, profits, technology throughout the public and private sectors.
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balancing major public and private sector contracting methods with positive outcomes of black-owned and operated enterprises.
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providing an affirmative influence for emerg-ing entrepreneurs sharing innovative design n and creative cultural content that exposes them to the history of black enterprises and excite them to participate in the USA’s future.
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advocating and promoting on behalf of black-owned businesses by promoting the need for expanding an economic foundation that supports an unfettered and self-sustained urban society with USA job creation and economic opportunity, where blacks work, live and operate viable business enterprises.
Black Business News P.O. Box 43159, Los Angeles, CA 90043 323-291-9334 Fax: 323-298-5064
PUBLISHER/EDITOR-IN-CHIEF Earl “Skip” Cooper, II
ASSOCIATE EDITOR Steven D. Turner
PRODUCTION MANAGER Narishima Osei
CONTRIBUTING WRITERS LaSandra Stratton • Dean Jones • Steven Turner
GRAPHIC DESIGN Sarah Harris
ENTREPRENEUR EDITOR Kim Anthony
STORY EDITORS Wanda Flagg ▪ Jennifer Marie Hamilton
PHOTOGRAPHY Ian Foxx ▪ Sabir • Narishima Osei
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.
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 January 2012 Black Business News www.blackbbusinessnews.net
FEATURES… January 2012
3
Publisher’s Message
GOVERNMENT… 8 20 23 27 29 35
Obama Ends War With Iraq Start Up America Policy Challenge - Clean Energy Obama Administration News WHO Manufacturing Policy SBA - Go Direct MBDA - Charting the Cost of Starting a Business
BUSINESS… 39 40 47 48 50 53 55 57 59 63 67 69
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Editorial - Growing Business in 2012 Grants.Gov Listings Benefits Corporation - A New Operating Formation Prosper in the Innovation Age Learn from Apple Event Marketing Predictions 7 Tips for Small Businesses Top Retail Trends Trade Show Technology 10 Rules of Great Companies Optimistic About Tech Innovation 10,000 Small Businesses Program Opens Again
PUBLIC INTEREST/COMMUNITY… COLUMNS 61 - Take A Look! 87 - Books to Consider... 91 - Calendar ACTION ALERTS 02 - AEG Supplier Portal SPONSORS 06 - Black Business Association
71 73
MIT to Offer Free Courses to All Operation Hope Financial Literacy Program Funded
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Let’s Move Breaks A Record
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The African World TV Network
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The African Union Symposium on Trade Development
78
Resources for Going Global
INTERNATIONAL…
Cover image - Phallu Morgan
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5 January 2012 Black Business News www.blackbbusinessnews.net
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;
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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.
Upcoming 2012 Events February
38th Annual Awards Dinner March
Salute to Black Women Business Conference & Awards Luncheon April
Administrative Professionals Day Awards Luncheon June
Black Business Association
Music Awards Dinner
P.O. Box 43159, Los Angeles, CA 90043 USA Tel: 323-291-9334 Fax: 323-291-9234
• Call 323-291-9334 for information on sponsorship and participation •
mail@bbala.org www.bbala.org www.facebook.com
7 January 2012 Black Business News www.blackbbusinessnews.net
Government
President Barack Obama shows military officials the White House Christmas Tree in the Blue Room following a meeting. The 18-foot-6 inch balsam fir is decorated with holiday cards created by military children and ornaments featuring medals, badges, and patches from all of the military branches. (Official White House Photo by Pete Souza).
President & Mrs. Obama at Fort Bragg: “Welcome Home” From Iraq Remarks by the President and First Lady on the End of the War in Iraq MRS. OBAMA: Hello, everyone! I get to start you all off. I want to begin by thanking General Anderson for that introduction, but more importantly for his leadership here at Fort Bragg. I can’t tell you what a pleasure and an honor it is to be back here. I have so many wonderful memories of this place. A couple of years ago, I came here on my very first official trip as First Lady. And I spent some -- a great time with
some of the amazing military spouses, and I visited again this summer to help to put on the finishing touches on an amazing new home for a veteran and her family. So when I heard that I had the opportunity to come back and to be a part of welcoming you all home, to say I was excited was an understatement. And I have to tell you that when I look out at this crowd, I am simply overwhelmed. I am overwhelmed and proud, because I know the level of strength and commitment that you all display every single day. Whenever this country calls, you all are the ones who answer, no matter the circumstance, no matter the danger, no matter the sacrifice.
And I know that you do this not just as soldiers, not just as patriots, but as fathers and mothers, as brothers and sisters, as sons and daughters. And I know that while your children and your spouses and your parents and siblings might not wear uniforms, they serve right alongside you. AUDIENCE: Hooah! (Applause.) MRS. OBAMA: I know that your sacrifice is their sacrifice, too. So when I think of all that you do and all that your families do, I am so proud and so grateful. But more importantly, I’m inspired. But like so many Americans, I never feel like I can fully convey just see Welcome Home From Iraq on page 9
8 January 2012 Black Business News www.blackbbusinessnews.net
President Barack Obama and First Lady Michelle Obama greets troops at Fort Bragg, White House Photo, Pete Souza.
Welcome Home From Iraq from page 8
THE PRESIDENT: Hello, everybody! (Applause.) Hello, Fort Bragg! All the way! AUDIENCE: Airborne! THE PRESIDENT: Now, I’m sure you realize why I don’t like following Michelle Obama. (Laughter.) She’s pretty good. And it is true, I am a little biased, but let me just say it: Michelle, you are a remarkable First Lady. You are a great advocate for military families. (Applause.) And you’re cute. (Applause.) I’m just saying -gentlemen, that’s your goal: to marry up. (Laughter.) Punch above your weight. Fort Bragg, we’re here to mark a historic moment in the life of our country and our military. For nearly nine years, our nation has been at war in Iraq. And you -- the incredible men and women of Fort Bragg -- have been there every step of the way, serving with honor, sacrificing greatly, from the first waves of the invasion to some of the last troops to come home. So, see Welcome Home From Iraq on page 11
9 January 2012 Black Business News www.blackbbusinessnews.net
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how thankful I am, because words just don’t seem to be enough. And that’s why I have been working so hard, along with Jill Biden, on a campaign that we call Joining Forces (www.whitehouse.gov/joiningforces). It’s a campaign that we hope goes beyond words. It’s a campaign that is about action. It’s about rallying all Americans to give you the honor, the appreciation and the support that you have all earned. And I don’t have to tell you that this hasn’t been a difficult campaign. We haven’t had to do much convincing because American have been lining up to show their appreciation for you and your families in very concrete and meaningful ways. Businesses are hiring tens of thousands of veterans and military spouses. Schools all across the country and PTAs are reaching out to our military children. And individuals are serving their neighbors and their communities all over this country in
your honor. So I want you to know that this nation’s support doesn’t end as this war ends. Not by a long shot. We’re going to keep on doing this. We have so much more work to do. We’re going to keep finding new ways to serve all of you as well as you have served us. And the man leading the way is standing right here. (Applause.) He is fighting for you and your families every single day. He’s helped more than half a million veterans and military family members go to college through the Post-9/11 G.I. Bill. (Applause.) He’s taken unprecedented steps to improve mental health care. He’s cut taxes for businesses that hire a veteran or a wounded warrior. And he has kept his promise to responsibly bring you home from Iraq. So please join me in welcoming someone who’s your strongest advocate, someone who shows his support for our military not only in words, but in deeds, my husband, our President, and your Commander-inChief, Barack Obama. (Applause.)
Welcome Home From Iraq from page 9
as your Commander-in-Chief, and on behalf of a grateful nation, I’m proud to finally say these two words, and I know your families agree: Welcome home! (Applause.) Welcome home. Welcome
Airborne Corps -- the Sky Dragons. (Applause.) We’ve got the legendary, All-American 82nd Airborne Division. (Applause.) We’ve got America’s quiet professionals -- our Special Operations Forces. (Applause.) From Pope Field, we’ve got Air Force. (Applause.) And I do believe we’ve got some Navy and
nation’s highest military decoration, the Medal of Honor, to the parents of one of those patriots from Fort Bragg who gave his life in Afghanistan -- Staff Sergeant Robert Miller. I want to salute Ginny Rodriguez, Miriam Mulholland, Linda Anderson, Melissa Helmick, Michelle Votel and
home. (Applause.) Welcome home. It is great to be here at Fort Bragg -- home of the Airborne and Special Operations Forces. I want to thank General Anderson and all your outstanding leaders for welcoming us here today, including General Dave Rodriguez, General John Mulholland. And I want to give a shout-out to your outstanding senior enlisted leaders, including Command Sergeant Major Roger Howard, Darrin Bohn, Parry Baer. And give a big round of applause to the Ground Forces Band. (Applause.) We’ve got a lot of folks in the house today. We’ve got the 18th
Marine Corps here, too. AUDIENCE MEMBER: Yes! (Laughter.) THE PRESIDENT: And though they’re not here with us today, we send our thoughts and prayers to General Helmick, Sergeant Major Rice and all the folks from the 18th Airborne and Bragg who are bringing our troops back from Iraq. (Applause.) We honor everyone from the 82nd Airborne and Bragg serving and succeeding in Afghanistan, and General Votel and those serving around the world. And let me just say, one of the most humbling moments I’ve had as President was when I presented our
all the inspiring military families here today. We honor your service as well. And finally, I want to acknowledge your neighbors and friends who help keep your -- this outstanding operation going, all who help to keep you Army Strong, and that includes Representatives Mike McIntyre, and Dave Price, and Heath Shuler, and Governor Bev Perdue. I know Bev is so proud to have done so much for our military families. So give them a big round of applause. (Applause.) Today, I’ve come to speak to you about the end of the war in Iraq. Over the last few months, the final work of see Welcome Home From Iraq on page 13
11 January 2012 Black Business News www.blackbbusinessnews.net
Government
President Barack Obama and First Lady Michelle Obama deliver remarks on the end of America’s war in Iraq, at Pope Army Airfield, Fort Bragg, North Carolina.(Official White House Photo by Lawrence Jackson)
Welcome Home From Iraq from page 11 leaving Iraq has been done. Dozens of bases with American names that housed thousands of American troops have been closed down or turned over to the Iraqis. Thousands of tons of equipment have been packed up and shipped out. Tomorrow, the colors of
will move south on desert sands, and then they will cross the border out of Iraq with their heads held high. One of the most extraordinary chapters in the history of the American military will come to an end. Iraq’s future will be in the hands of its people. America’s war in Iraq will be over (www.whitehouse.gov/ iraq). AUDIENCE: Hooah! THE PRESIDENT: Now, we knew
was one constant: your patriotism, your commitment to fulfill your mission, your abiding commitment to one another. That was constant. That did not change. That did not waiver. It’s harder to end a war than begin one. Indeed, everything that American troops have done in Iraq -– all the fighting and all the dying, the bleeding and the building, and the training and the partnering -– all of it has led to this
United States Forces-Iraq -- the colors you fought under -- will be formally cased in a ceremony in Baghdad. Then they’ll begin their journey across an ocean, back home. Over the last three years, nearly 150,000 U.S. troops have left Iraq. And over the next few days, a small group of American soldiers will begin the final march out of that country. Some of them are on their way back to Fort Bragg. As General Helmick said, “They know that the last tactical road march out of Iraq will be a symbol, and they’re going to be a part of history.” As your Commander-in-Chief, I can tell you that it will indeed be a part of history. Those last American troops
this day would come. We’ve known it for some time. But still, there is something profound about the end of a war that has lasted so long. Now, nine years ago, American troops were preparing to deploy to the Persian Gulf and the possibility that they would be sent to war. Many of you were in grade school. I was a state senator. Many of the leaders now governing Iraq -- including the Prime Minister -were living in exile. And since then, our efforts in Iraq have taken many twists and turns. It was a source of great controversy here at home, with patriots on both sides of the debate. But there was one constant -- there
moment of success. Now, Iraq is not a perfect place. It has many challenges ahead. But we’re leaving behind a sovereign, stable and self-reliant Iraq, with a representative government that was elected by its people. We’re building a new partnership between our nations. And we are ending a war not with a final battle, but with a final march toward home. This is an extraordinary achievement, nearly nine years in the making. And today, we remember everything that you did to make it possible. We remember the early days -– the American units that streaked across see Welcome Home From Iraq on page 15
13 January 2012 Black Business News www.blackbbusinessnews.net
Government
President Barack Obama delivers remarks on the end of America’s war in Iraq, at Pope Army Airfield, Fort Bragg, North Carolina.(CNN News)
STIMULATING OUR ECONOMY... WELCOMING TOURISTS & CONVENTIONS... CREATING JOBS FOR OUR WORKERS...
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Welcome Home From Iraq from page 13
drawdown of our forces. In handing over responsibility to the Iraqis, you preserved the gains of the last four years and made this day possible. Just last month, some of you -members of the Falcon Brigade -AUDIENCE: Hooah! THE PRESIDENT: -- turned over the Anbar Operations Center to the Iraqis in the type of ceremony that has
been wounded, and those are only the wounds that show. Nearly 4,500 Americans made the ultimate sacrifice -- including 202 fallen heroes from here at Fort Bragg -- 202. So today, we pause to say a prayer for all those families who have lost their loved ones, for they are part of our broader American family. We grieve with them. We also know that these numbers
see Welcome Home From Iraq on page 17
15 January 2012 Black Business News www.blackbbusinessnews.net
Government
the sands and skies of Iraq; the battles from Karbala to Baghdad, American troops breaking the back of a brutal dictator in less than a month. We remember the grind of the insurgency -– the roadside bombs, the sniper fire, the suicide attacks. From the “triangle of death” to the fight for Ramadi; from Mosul in the north to Basra in the south -– your will proved stronger than the terror of those who tried to break it. W e remember the specter of sectarian violence -– al Qaeda’s attacks on mosques and pilgrims, militias that carried out US troops return home from Iraq through a military base in Kuwait. (arabianbusiness.com) campaigns of intimidation and campaigns of assassination. And become commonplace over these last don’t tell the full story of the Iraq war in the face of ancient divisions, you several months. In an area that was -– not even close. Our civilians have stood firm to help those Iraqis who put once the heart of the insurgency, a represented our country with skill their faith in the future. combination of fighting and training, and bravery. Our troops have served We remember the surge and we politics and partnership brought the tour after tour of duty, with precious remember the Awakening -– when promise of peace. And here’s what the little dwell time in between. Our the abyss of chaos turned toward the local Iraqi deputy governor said: “This Guard and Reserve units stepped up promise of reconciliation. By battling is all because of the U.S. forces’ hard with unprecedented service. You’ve and building block by block in Baghdad, work and sacrifice.” endured dangerous foot patrols and by bringing tribes into the fold and That’s in the words of an Iraqi. Hard you’ve endured the pain of seeing partnering with the Iraqi army and work and sacrifice. Those words only your friends and comrades fall. You’ve police, you helped turn the tide toward begin to describe the costs of this war had to be more than soldiers, sailors, peace. and the courage of the men and women airmen, Marines and Coast Guardsmen And we remember the end of our who fought it. –- you’ve also had to be diplomats and combat mission and the emergence We know too well the heavy cost development workers and trainers and of a new dawn -– the precision of of this war. More than 1.5 million peacemakers. Through all this, you our efforts against al Qaeda in Iraq, Americans have served in Iraq -- 1.5 have shown why the United States the professionalism of the training of million. Over 30,000 Americans have Iraqi security forces, and the steady
Welcome Home From Iraq from page 15
deeds. You stood up for America; America needs to stand up for you. AUDIENCE: Hooah! THE PRESIDENT: That’s why, as your Commander-in Chief, I am
Government
military is the finest fighting force in the history of the world. AUDIENCE: Hooah! T H E PRESIDENT: As Michelle mentioned, we also know that the burden of war is borne by your families. In countless base communities like Bragg, folks have come together in the absence of a loved one. As the Mayor of Fayetteville put it, “War is not a political word here. War is where our friends and neighbors go.” So there have been missed b i r t h d a y parties and graduations. There are bills to pay and jobs that have to be juggled while picking up the kids. For every soldier that goes on patrol, there are the husbands and the wives, the mothers, the fathers, the sons, the daughters praying that they come back. So today, as we mark the end of the war, let us acknowledge, let us give a heartfelt round of applause for every military
family that has carried that load over the last nine years. You too have the thanks of a grateful nation. Part of ending a war responsibly is standing by those who fought it. It’s
Some of the last troops leaving Iraq. (nydailynews.com) not enough to honor you with words. Words are cheap. We must do it with
committed to making sure that you see Welcome Home From Iraq on page 18
17 January 2012 Black Business News www.blackbbusinessnews.net
Government
Welcome Home From Iraq
effort to put our veterans to work. We’ve worked with Congress to pass a tax credit so that companies have the incentive to hire vets. And Michelle has worked with the private sector to get commitments to create 100,000 jobs for those who’ve served. AUDIENCE: Hooah! THE PRESIDENT: And by the way,
finally collapsed, covered with burns. When they told him he was a hero, Alvin from page 17 disagreed. “I’m not a hero,” he said. “A hero is a sandwich. “ (Laughter.) “I’m get the care and the benefits and the a paratrooper.” opportunities that you’ve earned. For AUDIENCE: Hooah! those of you who remain in uniform, THE PRESIDENT: We could do well we will do whatever it takes to ensure to learn from Alvin. This country needs the health of our force –- including your to learn from you. Folks in Washington need to learn from you. AUDIENCE: Hooah! T H E P R E S I D E N T: Policymakers and historians will continue to analyze the strategic lessons of Iraq -- that’s important to do. Our commanders will incorporate the hard-won lessons into future military campaigns -that’s important to do. But the most important Secretary Clinton announces the withdrawal of U.S. troops from Iraq. lesson that we can take from families. We will keep faith with you. we’re doing this not just because it’s you is not about military strategy –- it’s We will help our wounded warriors the right thing to do by you –- we’re a lesson about our national character. heal, and we will stand by those doing it because it’s the right thing to do For all of the challenges that our who’ve suffered the unseen wounds for America. Folks like my grandfather nation faces, you remind us that there’s of war. And make no mistake -- as we came back from World War II to form nothing we Americans can’t do when go forward as a nation, we are going the backbone of this country’s middle we stick together. to keep America’s armed forces the class. For our post-9/11 veterans -– AUDIENCE: Hooah! strongest fighting force the world has with your skill, with your discipline, with THE PRESIDENT: For all the ever seen. That will not stop. your leadership, I am confident that the disagreements that we face, you remind AUDIENCE: Hooah! (Applause.) story of your service to America is just us there’s something bigger than our THE PRESIDENT: That will not stop. beginning. differences, something that makes us But our commitment doesn’t end when But there’s something else that we one nation and one people regardless you take off the uniform. You’re the owe you. As Americans, we have of color, regardless of creed, regardless finest that our nation has to offer. And a responsibility to learn from your of what part of the country we come after years of rebuilding Iraq, we want service. I’m thinking of an example -- from, regardless of what backgrounds to enlist our veterans in the work of Lieutenant Alvin Shell, who was based we come out of. You remind us we’re rebuilding America. That’s why we’re here at Fort Bragg. A few years ago, one nation. committed to doing everything we can on a supply route outside Baghdad, he And that’s why the United States to extend more opportunities to those and his team were engulfed by flames military is the most respected institution who have served. from an RPG attack. Covered with in our land because you never forget That includes the Post-9/11 G.I. Bill, gasoline, he ran into the fire to help his that. You can’t afford to forget it. If you so that you and your families can get fellow soldiers, and then led them two forget it, somebody dies. If you forget the education that allows you to live out miles back to Camp Victory where he your dreams. That includes a national see APEC CEO Summit on page 18 18 January 2012 Black Business News www.blackbbusinessnews.net
Welcome Home From Iraq from page 18
it, a mission fails. So you don’t forget it. You have each other’s backs. That’s why you, the 9/11 Generation, has
Kandahar, and delivered justice to those who attacked us on 9/11. Looking back on the war that saved our union, a great American, Oliver Wendell Holmes, once paid tribute to those who served. “In our youth,” he said, “our hearts were touched with fire. It was given to us to learn at the outset that life is a profound and passionate thing.” All of you here today have lived through the fires of war. You will be remembered for it. You will be honored for it -- always. You have done something profound with your lives. When this nation went to war, you signed up to serve. When times were tough, you kept fighting. When there was no end in sight, you found light in the darkness. And years from now, your legacy will endure in the names of your fallen comrades etched on headstones at Arlington, and the quiet memorials across our country; in the whispered words of admiration as you march in parades, and in the freedom of our children and our grandchildren. And in the quiet of night, you will recall that your heart was once touched by fire. You will know that you answered when your country called; you served a cause greater than yourselves; you
19 January 2012 Black Business News www.blackbbusinessnews.net
see APEC CEO Summit on page 21
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earned your place in history. Because of you -- because you sacrificed so much for a people that you had never met, Iraqis have a chance to forge their own destiny. That’s part of what makes us special as Americans. Unlike the old empires, we don’t make these sacrifices for territory or for resources. We do it because it’s right. There can be no fuller expression of America’s support for self-determination than our leaving Iraq to its people. That says something about who we are. Because of you, in Afghanistan we’ve broken the momentum of the Taliban. Because of you, we’ve begun a transition to the Afghans that will allow us to bring our troops home from there. And around the globe, as we draw down in Iraq, we have gone after al Qaeda so that terrorists who
threaten America will have no safe haven, and Osama bin Laden will never again walk the face of this Earth. AUDIENCE: Hooah! THE PRESIDENT: So here’s what I want you to know, and here’s what I want all our men and women in uniform to know: Because of you, we are ending these wars in a way that will make America stronger and the world more secure. Because of you. That success was never guaranteed. And let us never forget the source of American leadership: our commitment to the values that are written into our founding documents, and a unique willingness among nations to pay a great price for the progress of human freedom and dignity. This is who we are. That’s what we do as Americans, together. The war in Iraq will soon belong to history. Your service belongs to the ages. Never forget that you are part of an unbroken line of heroes spanning two centuries –- from the colonists who overthrew an empire, to your grandparents and parents who faced down fascism and communism, to you –- men and women who fought for the same principles in Fallujah and
Startup America Policy Challenge: Clean Energy by Secretary Steven Chu,
U.S. Department of Energy
Government
I
’ve met with researchers, entrepreneurs and students across the country and I can say without hesitation that the United States is the world’s most innovative country. At those same meetings, I’ve also learned firsthand about obstacles that clean energy entrepreneurs face. To compete in the global economy, we need to unleash the creativity and ingenuity of our citizens in high-growth markets like clean energy. We also need to remove unnecessary barriers to startups – to increase the chances for a clean energy entrepreneur to be successful in starting and scaling a high-growth business. Trillions of dollars will be invested in clean energy over the coming decades. Countries around the world recognize this enormous economic opportunity and are racing to get ahead. Our country faces a simple choice: we can develop and produce clean energy technologies today or we can import them tomorrow.
…a simple choice: we can develop and produce clean energy technologies today or we can import them tomorrow. President believes that P id t Obama Ob b li th t the th United States can, must and should lead the world in clean energy and he wants
to make sure that our businesses are in the best position to be successful. Earlier this year, he launched the Startup America initiative ( w w w. w h i t e h o u s e . gov/issues/startupamerica) to promote
entrepreneurship in key areas like energy and to make it easier for America’s innovators to turn a great idea into a great business. Now the Startup America Policy Challenge (http://challenge.gov/ White%20House/257-startup-americapolicy-challenge?preview_token=%2Ba33 oSZRZspL1kZRuAEIuH0voAwxMW7DB5 5tGW4fqMQ%3D) is looking to tap into
our greatest resource – the American people – for ideas on how we can accelerate innovation in energy and position the United States to lead in this critical sector. America’s entrepreneurs are on the front lines of the global clean energy race, and the Department of Energy andthe Administration want to hear from you about the barriers that are standing in your way and what we can do to help remove them. Through Quora, an idea-sharing platform, you can share your thoughts and ideas directly with senior Administration officials (www.quora.com/ Aneesh-Chopra-1/Startup-America-PolicyChallenge-We-Want-to-Hear-from-You) .
Specifically, we are interested in your answers to these questions: • What do you see as the primary barriers to moving clean energy technologies and innovations into the market place?
• What policy tools do you recommend to dismantle these barriers in order to grow the U.S. clean energy sector? The stakes are too high for the United States to miss out on the clean energy opportunity. We look forward to hearing from you about how we can move ahead in clean energy and lead in the 21st century.
Startup America Policy Challenge In the spirit of the Obama Administration’s commitment to open and participatory government, the White House is announcing the Startup America Policy Challenge in collaboration with the U.S. Department of Health and Human Services, the U.S. Department of Energy, and the U.S. Department of Education. Major transformations are underway in the U.S. economy, opening up unprecedented opportunities for entrepreneurs: • Education is shifting from paper to digital. • Energy is shifting from dirty to clean. • Healthcare is shifting from volume to value.
20 January 2012 Black Business News www.blackbbusinessnews.net
see Policy Challenge on page 21
Policy Challenge from page 20
How do we get there faster? A lot of entrepreneurs have an idea about how the federal government could help knock down some of the barriers they face every day. But they probably don’t have time to translate this idea into a rigorous policy proposal – after all, they’ve got businesses to run. Meanwhile, other members of the public, including students, have time
IMPORTANT DATES
Submission Period: Start: Dec 08, 2011 12:00 AM EST End: May 31, 2012 12:00 AM EDT Winners announced: Jul 02, 2012 12:00 AM EDT Welcome Home From Iraq helped forge a just and lasting peace with Iraq, and among all nations. I could not be prouder of you, and America could not be prouder of you. God bless you all, God bless your families, and God bless the United States of America. (Applause.). www.whitehouse.gov/the-pressoffice/2011/12/14/remarks-president-andfirst-lady-end-war-iraq
By the Numbers: 1.5 Million More than 1.5 million Americans have served in Iraq between 2003 and 2011. More than 30,000 troops were wounded in the fighting, and 4,500 lost their lives. As the war draws to a close in the coming days, we thank every one of them for their service, their sacrifice, and everything they’ve done to help end the war. At Fort Bragg, President Obama said that these numbers don’t come close to
• http://www.quora.com/AneeshChopra-1/Startup-America-PolicyChallenge-We-Want-to-Hear-fromYou telling the full story of the Iraq war. Our civilians have represented our country with skill and bravery. Our troops have served tour after tour of duty, with precious little dwell time in between. Our Guard and Reserve units stepped up with unprecedented service. You’ve endured dangerous foot patrols and you’ve endured the pain of seeing your friends and comrades fall. You’ve had to be more than soldiers, sailors, airmen, Marines and Coast Guardsmen –- you’ve also had to be diplomats and development workers and trainers and peacemakers. Through all this, you have shown why the United States military is the finest fighting force in the history of the world. The President has pledged to stand by the service members that have fought so hard once they come home, and will make sure they get all the care and benefits they’ve earned. After years of rebuilding in Iraq, we want to enlist our veterans in the work of rebuilding America, President Obama said, which is why we’ve committed to doing everything we can to extend
• http://www.quora.com/AneeshChopra-1/ Phase II: Students and solvers-stay tuned! Consistent with the Startup America Policy Challenge, a network of universities has decided to analyze the issues posed by the Cabinet Secretaries. These universities will make the responses from Phase I available to students and solvers across the country. Solver teams will choose an idea and develop detailed “Policy Business Plans” for Federal government action. The winning Policy Business Plans will be shared with the relevant Cabinet Secretary: Secretary Kathleen Sebelius (Dept. of Health and Human Services), Secretary Arne Duncan (Dept. of Education), or Secretary Steven Chu (Dept. of Energy).
opportunities to those who have served. This commitment includes the Post-9/11 GI Bill that will help service members and their families get a college education. It includes launching a nationwide effort to connect veterans with companies that want to hire them, and offering tax credits as incentives for businesses to make those hires. Take a minute to write a note that troops all over the world will see (www. whitehouse.gov/joiningforces/thanks) . Thank them for their service and sacrifice, and let them know as they return home that you’ll stand by them, too. www.whitehouse.gov/blog/2011/12/14/ numbers-15-million
21 January 2012 Black Business News www.blackbbusinessnews.net
Government
from page 19
to do that research. But they may not know what barriers are most important. Enter the Startup America Policy Challenge: President Obama’s Administration will ask entrepreneurs and the American public how to knock down barriers to innovation in healthcare IT, clean energy, and learning technologies. Entrepreneurs and other members of the public will post their ideas online. The public, including students and other solvers, will be invited to translate the best ideas into “Policy Business Plans,” which will be shared with President Obama’s Cabinet. How to Participate Phase I: Entrepreneurs and others: Post your response to the White House and Cabinet Secretaries:
SERVING THE INDUSTRY and the TRADE PIPE - VALVES - FITTINGS - METALS - TOOLS PROCESS CONTROLS - INSTRUMENTATION - WATER WORKS
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ALL MAJOR CREDIT CARDS ACCEPTED
Obama Administration News President Obama has Appointed More Minorities Than Before
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those voters — many of whom were drawn to the polls for the first time in 2008 by the historic nature of his candidacy coupled with an aggressive registration program — even with a rate of joblessness among blacks that far exceeds national figures. The president himself, at a highend Los Angeles fund-raiser Monday after a visit to an ethnically mixed neighborhood, warned donors like the actor Will Smith and Magic Johnson that the coming presidential election “will not be as sexy as the first one,” suggesting it might lack the electricity that motivated many black voters in 2008. “The challenge is going to be for the people who were completely inspired by him in 2008 who were atypical voters — to get those people to come back out and vote for him in 2012,” said Jamal Simmons, a Democratic strategist who worked with the Gore campaign in 2000 and the Obama campaign in 2008. Obama campaign officials say they recognize the difficulty of renewing see Obama Administration News on page 25
Black Voters’ Support for Obama is Steady and Strong
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bdul Malik seems the prototype of a disenchanted Barack Obama voter. Mr. Malik, 48, President Barack Obama, First Lady Michelle Obama, and their daughters, Malia, left, and Sasha, right, lost his job as sit for a family portrait in the Oval Office, December 2011. (Official White House Photo by Pete Souza) a grading and
23 January 2012 Black Business News www.blackbbusinessnews.net
Government
o far, nearly half of Obama’s 73 appointments to the federal bench have been women, 25% have been African American, 11% Asian American, and 10% Hispanic. About 30 percent of Obama’s nominees were white males. By contrast, twothirds of George W. Bush’s nominees were white males. Obama’s rate of appointing women and people of color is higher than those of any of his predecessors during the first year of their terms. Unfortunately, Republicans have shown a historically high level of obstruction in blocking Obama’s appointees. While Presidents Jimmy Carter and Ronald Reagan had 91% of their judicial appointees confirmed in their first year of office, Obama only had 36% of them approved by the U.S. Senate.
landscape worker a year and a half ago, another victim of the housing bust. Since then, he has been searching for something, anything, to help make ends meet. Yet, Mr. Malik, who is black, says he has every intention of again voting for President Obama next year. So does Bobby Hart, 46, a former construction worker here. And Dorothy Artis of Greensboro, N.C., who is looking for a job to help support her grandchildren while her daughter is deployed in Kuwait. And Larry Bennett, who worked for 27 years at Cooper Industries before he lost his job when his division moved out of state. “I don’t blame Obama,” said Mr. Malik, who had never voted before 2008. “I don’t blame him at all.” Despite a school of thought in Washington that Mr. Obama’s support among blacks has weakened because of the poor economy and a sense of unmet expectations, interviews and public opinion surveys show that his standing remains remarkably strong among African-Americans. The question now for the Obama campaign is whether it can energize
Obama Administration News
from page 23
the virulent opposition to Mr. Obama that pollsters believe is sometimes connected to his race. It is impossible to know how many voters make up their minds even partly because of race and what the net effect on Mr. Obama’s chances will be. In the 2008 national exit poll, one in five voters said that race played a factor in their vote, but extrapolating how that hurts or helps Mr. Obama is tricky. While many African-Americans may be inclined to vote for Mr. Obama because he is black, there are substantial numbers of white voters who might be less likely to do so for the same reason, pollsters say. To improve Mr. Obama’s chances, campaign officials say they are planning outreach in places where black voters — and women and Hispanic voters — are known to congregate. Sitting in a chair at the Ultimate Choice Barber Shop in Charlotte, Brian Gainey, 28, a truck driver, initially hesitated when asked if he was going to vote again for Mr. Obama. “Yes,” he said finally, adding: “I’d almost like to see someone else win though. Maybe then they’ll see how much better Obama was than whoever will come after him.” To Lemar Foster Jr., 48, a barber at Ultimate Choice, the Obama family
epitomizes a bigger cultural change. “It’s like we got the Cosbys in the White House,” said Mr. Foster, referring to the fictional affluent black family headed by Bill Cosby in the 1980s television show. “I grew up with ‘Sanford and Son’ ” — a show rife with demeaning stereotypes. “So having the Obamas in the White House?” he asked. “Yeah, I’m very proud. And I’m definitely voting for him again.” New York Times // Helene Cooper
25 January 2012 Black Business News www.blackbbusinessnews.net
Government
the enthusiasm that spurred black turnout, but they also say there are still new black voters to be reached. Democratic campaign strategists say they also expect African-Americans to be motivated to vote by Republican attacks on the president and the desire to make certain that Mr. Obama’s historic tenure in the White House extends beyond one term. They are already building staffs in swing states with significant black populations, like Florida, North Carolina and Virginia, for an intensive effort called Operation Vote, which will focus on AfricanAmericans, women and Hispanics. “Already the foundation is beginning to eclipse what they did in 2008,” said Mike Henry, campaign manager for former Gov. Tim Kaine of Virginia, a Democrat running for the Senate. Democratic candidates have historically struggled to elevate turnout among blacks, and 2008 was the first time nationally that the black share of the electorate was slightly more than the black share of the voting-age population. In North Carolina, where more than one in five residents are black, Mr. Obama scored perhaps his most unlikely victory with the help of what his campaign said were more than 300,000 black voters who went to the polls for the first time. He needed almost all of them, winning the state by fewer than 14,000 votes out of the more than 4 million cast. Some believe the president will be hard-pressed to reproduce those results, with a political narrative emerging in Washington that AfricanAmericans have begun to sour on the president. Various black leaders — including Representative Maxine Waters of California, the television host Tavis Smiley and Cornel West, a prominent professor — have criticized Mr. Obama for what they see as not doing enough for black Americans. Mr. Obama fed the story line in a speech last month to the Congressional Black Caucus, when he said AfricanAmericans should “stop crying” and fight for his jobs bill.
Outside Washington, however, the story is markedly different. Mr. Obama’s support among African-Americans appears strikingly strong, even among many who are out of work, who might be expected to complain the loudest. In a recent Pew Research Center poll, black voters preferred Mr. Obama 95% to 3% over Mitt Romney, “which is at least the margin he got in 2008,” said Michael Dimock, associate director for research at Pew. “There’s no erosion at all.” Even more noteworthy, less than 10% of black voters in a New York Times/ CBS News survey taken last month said that Mr. Obama had failed to meet their expectations as president, while nearly 3 in 10 said he had exceeded expectations. Among nonblack voters, 4 in 10 said he performed worse than expected, while only 5 percent said he had done better. For many African-Americans, the main reason to support Mr. Obama is easy to cite. They argue that the modern Republican Party protects the rich at the expense of the poor, is hostile to social programs and thinks the way to fix the economy is solely through a trickle-down approach. “We already know what the Republican Party is offering,” said Mr. Bennett, 57, the former Cooper Industries employee, a plant supervisor before he lost his job. “And we don’t want that.” Mr. Hart said, “Look at the choice we got with those Republicans.” Beyond issues, many AfricanAmericans feel an emotional connection to Mr. Obama that seems unshakable, saying that nothing can compare with seeing someone who looks like them in the White House. That bond still brings tears to the eyes of Sheila Gorham, an elementary school principal in Greensboro, when she talks about the first time she saw Mr. Obama in Charlotte in 2008. “It was pouring rain and I stood out there with my sister,” she said. It was only one day before the election, and Mr. Obama’s grandmother had just died. “He was solemn,” Ms. Gorham said. But “he talked about how change was going to come.” This phenomenon is the flip side of
Commerce Secretary Bryson, NEC Chair Sperling Named as Co-Chairs of White House Office of Manufacturing Policy
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27 January 2012 Black Business News www.blackbbusinessnews.net
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resident Obama has announced that Secretary John Bryson would join National Economic Council Director Gene Sperling as co-chair of the White House Office of Manufacturing Policy. The Office of Manufacturing Policy is part of the National Economic Council in the White House and works across federal government agencies to coordinate the execution of manufacturing programs and the development of manufacturing policy. “At this make or break time for the middle class and our economy, we need a strong manufacturing sector that will put Americans back to work making products stamped with three proud words: Made in America,” said President Obama. “I am grateful that Secretary Bryson and Gene Sperling will head up this office to continue our efforts to revitalize this great American industry and fight for American workers and jobs.” “John Bryson brings to this role decades of business leadership, a passion for manufacturing, and a strong understanding of its importance for jobs and our nation’s economic competitiveness. He will play a key leadership role for the President and his economic team on these critical issues,” said Gene Sperling. Secretary Bryson led Southern California Edison as Chairman and CEO for 18 years, served as Boeing’s
longest-serving director, as well as served as an adviser to Coda Automotive. Secretary Bryson’s business experience, combined with the Commerce Department’s strengths, including promoting U.S. exports, advising small manufacturers, developing tomorrow’s cutting edge standards, commercializing federally funded research, and protecting America’s intellectual property, uniquely position Secretary Bryson to help lead the Administration’s manufacturing efforts. “Supporting the manufacturing sector will further our ability to innovate at home and compete around the world while generating more high-wage American jobs,” Secretary Bryson said. “Since day one, President Obama has been focused on supporting the entire United States manufacturing sector but especially small and medium sized businesses on the cutting edge of advanced manufacturing. We are introducing an ‘all hands on deck’ approach that coordinates all of our assets - public and private, federal, state, and regional.” The White House Office of Manufacturing Policy will convene cabinet-level meetings to aggressively implement the Administration’s priority manufacturing initiatives. In his first month in office, Secretary Bryson has led trade talks with China to level the playing field for American companies and workers. He is reaching out to CEOs, has met with the Steering Committee of the President’s Advanced Manufacturing Partnership, and has directed the Manufacturing Extension Partnership (MEP) housed within the Department’s National Institute of Standards and Technology (NIST) to expand their efforts to connect competitive, U.S. based suppliers
with upper tier domestic and foreign companies, wherever located. Upon taking office, the President made the tough choice to provide the auto industry temporary support – assistance which has helped the auto industry add back more than 140,000 jobs and positions the United States to lead the world in advanced vehicle manufacturing. In addition, the Administration has taken steps to reduce costs for manufacturers, expand markets abroad, and invest in infrastructure and innovation to make our manufacturers globally competitive. Those actions have included passing three free trade agreements that will significantly boost exports as well as support tens of thousands of good-paying American jobs. These agreements also support the President’s National Export Initiative launched in 2010, with the goal of doubling U.S. exports by 2014. Over 60% of exports are manufactured goods, and exports support over one quarter of all U.S. manufacturing jobs. The initiative is on track to reach that goal, and has already helped U.S. businesses expand exports 17% in 2010 and 16% so far this year. The President has also called on Congress to help revitalize American manufacturing, including continuing to push for an expanded, simplified, and permanent research and development tax credit which would provide the certainty and predictability manufacturers need to invest in innovation. In addition, the President’s American Jobs Act would extend the 100% capital purchase expensing provision signed into law in December 2010 and make an immediate $50 billion investment for highway, highway safety, transit, passenger rail, and aviation activities. Since the bottom of the recession in 2009, manufacturing production has grown 14% while real goods exports have grown 29%. Over this same period, U.S. manufacturing has added over 300,000 jobs, the first time the sector has experienced sustained job growth in over a decade, but more must be done to revitalize American manufacturing.
Federal Benefit Payments Are Going All-Electronic
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of these changes? Walt Henderson: The small business community needs to be aware -- I mean, the small business community is a trusted resource for the people that are approaching retirement or perhaps already retired and small business owners perhaps who are thinking about retirement or have employees, so they’re in a great position to pass along this information about this requirement to their employees. And it’s just that it’s an additional thing that they -- service that they can provide their employees. Ron Johnson: And why are electronic payments a better option than paper checks? Walt Henderson: These days, electronic payments are so commonplace, but we still have about eight and a half million people who receive paper checks each month. So that’s eight and a half million paper checks that we mail out, and a lot of problems can happen. They can be taken from mailboxes, they can be forged and cashed without permission, and getting payments electronically can protect people from financial crimes like check theft and fraud. In fact, last year, more than 540,000 Social Security and supplemental security income checks were reported lost or stolen and had to be re-issued. It’s estimated that there’s cost savings, $93 million in checks issued by the Treasury were fraudulently endorsed in 2010. It’s also going to save money; it’s estimated over the next 10 years that there’ll be a billion dollars in savings and taxpayers will no longer incur that $120 million a year price tag which is associated with printing and mailing those paper checks. Ron Johnson: Do individuals still have a choice as to how they receive their money? Walt Henderson: People can opt to go with Direct Deposit to their
Karen G. Mills, Administrator Small Business Administration
existing bank or credit union account, or we have something available called the Direct Express Prepaid Debit MasterCard, and we recommend those as both options for receiving payments electronically. Direct deposit is easy, people can sign up, as I mentioned, at their bank or credit union and the money goes into their account on the morning of the payment date, it’s available. The Direct Express card, it’s a prepaid debit card and it’s a safe, low-cost alternative to paper checks for federal benefit payments. You can use like any prepaid debit card out there on the market to make retail purchases, get cash back for no charge, no bank
account’s required, no credit check is required as well, and for information on the fees and features we have a website at www.godirect.org. Ron Johnson: Now, what happens if an individual doesn’t have a bank account? Walt Henderson: Well, that’s exactly why we have the Direct Express prepaid see Benefit Payments on page 31
29 January 2012 Black Business News www.blackbbusinessnews.net
Government
Transcript from the podcast featuring Walt Henderson, Director, EFT Strategy Division, U.S. Department of the Treasury: n December 2010, the U.S. Department of the Treasury announced that all federal benefit payments such as veterans and Social Security will be paid electronically by March 1st of 2013, and that means paper checks will no longer be an option. And if you’re a small business owner with employees set for retirement or who receive federal benefits, it’s important to let them know that things are about to change. Hello, I’m Ron Johnson with the U.S. Small Business Administration, Your Small Business Resource, and with us today is Walt Henderson. He’s the director of the Electronic Fund Transfer Strategy Division at the U.S. Department of the Treasury Financial Management Service. Walt, I’d like to welcome you to the program. Walt Henderson: My pleasure to be here, thanks for having me. Ron Johnson: Tell us all about the new regulations to pay all federal benefits electronically. Walt Henderson: Well, last December we published this regulation and it’s a two-step process. First, as of May 1, 2011 of this year, anyone applying for a benefit for the first time such as Social Security or veteran’s benefits will need to select an electronic payment option. Secondly, if you’re an existing check recipient, you’ve already been receiving your benefits and you’re receiving those by paper check, you have until March 1, 2013 to switch over to an electronic payment method. We give them a little more time because they’ve been getting the checks and they need to educate themselves about the options that are available. Ron Johnson: Why will our small business community need to be aware
Benefit Payments from page 29
and talk to the call agent and provide your checking or savings account information for direct deposit or they can sign you up for the Direct Express card. You can also contact your federal benefit agency directly and they can sign you up. You can visit your bank or your credit union and they can sign you up for direct deposit. So we make it that there are a lot of options and we make it very easy for people. Ron Johnson: To learn more about the U.S. Treasury’s Electronic Payment Plan to federal employees, go to www. godirect.org or call 1-800-333-1795. For more information about SBA’s programs and services visit www. sba.gov. Until next time, I’m Ron Johnson with the U.S. Small Business Administration, Your Small Business Resource. www.sba.gov/content/federal-benefitpayments-are-going-all-electronic
www.marketingprofs.com/events/register.asp?evid=49 31 January 2012 Black Business News www.blackbbusinessnews.net
Government
card. It was designed specifically for the federal benefit recipient that does not have a bank account. And many people have had bank accounts in the past, or have perhaps had a bad experience with one, and this is a low-cost option to receive their payment in a safe and convenient way. It’s fully FDIC insured, it has consumer protections. In fact, we have more than 2.5 million benefit recipients who have enrolled for the Direct Express card since we launched it in 2008. And we always do custumer surveys and consistently we find that 95% of our Direct Express cardholders are satisfied or very satisfied with the Direct Express card. Ron Johnson: Can you tell us what the Treasury is doing to inform the people about the change to how federal benefits will be paid? Walt Henderson: Well, we have this campaign called Go Direct and I manage the Go Direct program here at Treasury, and it is a nationwide public education campaign about electronic payments, about direct deposit and the Direct Express Card. And it’s very partner-oriented; we just don’t want people hearing from the Treasury Department the reasons we’re doing this. The campaign reaches out to trusted voices in the community, agencies such as the Small Business Administration, to pass along the information so people can hear the same information from that trusted voice in the community. And I’ve mentioned the website earlier and I encourage people to go to www.godirect.org to find out more information about the campaign
and about the electronic payment alternatives that are available. Ron Johnson: If someone is about to apply for federal benefits, what is it they need to know? Walt Henderson: When they go to the federal agency to apply for their federal benefits, they really just need to have their bank account or credit union account information. It typically has the routing number and the account number, that’s at the bottom of your personal check. You need to know the type of account you have, whether it’s a checking or a savings account you’re using for direct deposit, and that’s it. It’s fairly simple. For Direct Express, for people that perhaps don’t have a bank account, they just need to tell the person at the federal agency that they would like the Direct Express card to receive their payment electronically and the agency person will sign them up right there on the spot. Ron Johnson: If you’re already receiving federal benefits by paper checks, what do you need to do? Walt Henderson: Well, we make it very easy for those check recipients; we have the website that I’ll mention again, www.godirect.org. You can, as I mentioned, learn more about the alternatives, you can also sign up online, that’s a really great feature that a lot of people take advantage of. We also operate a call center at 1-800333-1795 and you just simply call up
Comerica Expands the needs of high net-worth clients and institutions.
Comerica Tower
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omerica Incorporated (www. comerica.com) is a financial services company headquartered in Dallas, Texas. The corporation has expanded its foothold throughout the State of Texas with the acquisition of Sterling Bacshares. In doing so, it has strategically aligned its business and retail bank operations, as well as wealth management services. The Business Bank provides companies of all sizes with an array of credit and non-credit financial products and services. The Retail Bank delivers personalized financial products and services to consumers, whereas the Wealth Management Division serves
As evident by this transaction, valuable things are not cheap. That’s our view of Comerica, Inc.’s purchase of Sterling Bancshares Inc. in Houston, which investors initially hated. Yes, Comerica Chairman and CEO Ralph Babb agreed to pay more than twice the value of Sterling’s tangible book at a time when most banks are changing hands at little or no premium to book. Yet Comerica now has twice as many branches in Houston and a new toe-hold in San Antonio, and it can sell treasury and wealth management services to Sterling customers. Even before the acquisition of Sterling Banc, Comerica Bank was the largest U.S. banking company headquartered in Dallas, Texas. Comerica Bank operates 217 banking centers in Michigan. In California, Comerica Bank operates 104 banking centers In Arizona, Comerica Bank operates 17 banking centers in Phoenix/Scottsdale. In Florida, Comerica Bank operates 11 banking centers. Select businesses of Comerica Bank also can be found in several other states, as well as in Canada and Mexico.
32 January 2012 Black Business News www.blackbbusinessnews.net
Congresswoman Maxine Waters, center, and Congressman Barney Frank, far right, attend a presidential signing.
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nly a few hours after Rep. Barney Frank announced he would not seek re-election in 2012, U.S. Congresswoman Maxine Waters has been designated as the logical choice to assume Frank’s leadership role on the powerful House Financial Services Committee. Thus, Congresswoman Waters maybe one of the most powerful figures in the world of finance during this new 2012 year. The House Financial Services Committee has jurisdiction over all issues pertaining to the economy, including the banking system, housing, insurance, and securities and exchanges. Additionally, the Committee also has jurisdiction over
monetary policy, international finance, international monetary organizations, and efforts to combat terrorist financing. The Committee oversees the Nation’s economy through its oversight of the Federal Reserve Board and individual reserve banks, the Treasury, the production and distribution of currency, and the Nation’s capital markets. Agencies under oversight by the Committee include: the Federal Reserve, Treasury, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Department of Housing and Urban Development, the Federal
Housing Finance Agency, and the Export-Import Bank. Congresswoman Waters is the No. 2 Democrat of the full panel and ranking member on the panel’s housing subcommittee. She also is ranking member of the House of Representatives subcommittee on Capital Market and Government Sponsored Enterprises. While it is not a guarantee that Congresswoman Waters will take over Congressman Frank’s position given she still has to win House democrates’ support, she is a proven consensus builder and winner. Watch out for her in 2012.
33 January 2012 Black Business News www.blackbbusinessnews.net
Government
Congresswoman Maxine Waters May Replace Congressman Barney Frank as Chair of House Financial Services Committee
Minority Business Development Agency How to Estimate the Cost of Starting a Business from Scratch
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ow much does it cost to start your own business? Of course, the answer depends on your business model and your chosen industry. However, a useful estimate based on a 2009 study conducted by the Ewing Marion Kauffman Foundation puts the average cost of starting a new business from scratch at just over $30,000. Many small businesses, particularly freelance, online and home-based businesses come in a lot lower than this, often needing only a few thousand to get started. But averages aside, what can you do to calculate your specific startup costs?
fees, state incorporation fees, etc. You can write off up to $5,000 in business startup costs and another $5,000 in organizational expenses in the year that you start a business. 2. Assets – Also known as capital expenses or expenditures, these are the one-time costs of buying assets such as inventory, property, vehicles, or equipment as well as making upfront payments for security deposits. These startup assets don’t usually qualify for deduction, however, some can be written off through depreciation at tax time. You can read more about the
Before you do any estimating it’s important to understand how startup costs are categorized. All startup costs (meaning the period before you start generating income) include two kinds of spending: expenses and assets. 1. Expenses – These are the costs for operations that occur during the startup phase, although they will continue throughout the life of the business.Startup expenses include deductible items such as travel, payroll, rent, office supplies, marketing materials, etc. Expenses also include initial organizational costs like legal
difference between these two and why it’s important to keep good expense records in SBA’s Small Business Expenses and Tax Deduction Guide (www.sba.gov/content/small-businessexpenses-and-tax-deductions).
Define What You Need to Spend Money On To estimate your startup costs, start by creating two lists – one for your startup expenses and one for your assets. Your
list should be informed by the aspects of your business that will have costs associated during the startup phase, such as facility improvements or the equipment and inventory you need. But don’t forget to consider items such as brochures, business cards, and website development costs or any security deposits you need to make. Do you need the help of a consultant, tax advisor or lawyer to help you get started? Next, categorize these items as essential or optional – do you really need to spend money on these before you start making any kind of income?
Assign Costs Now we come to crunch time – assigning costs to your startup “to do” list. This process is always going to be a best guess, but be realistic and use past experience, research, and advice from other entrepreneurs to guide your cost estimates. Organizations such as your local MBDA Business Center (www.mbda.gov/main/offices), SCORE (www.sba.gov/content/score) and your
35 January 2012 Black Business News www.blackbbusinessnews.net
see Startup Costs on page 37
Government
Understand the Types of Costs a Startup Will Incur
David Hinson, National Director, MBDA
Government
36 January 2012 Black Business News www.blackbbusinessnews.net
Startup Costs from page 35
It’s All in the Timing Remember, as mentioned above, startup costs are accrued before you have income to supplement your business. So develop your budget with this in mind. For example, startup expenses such as rent and payroll are only that until your business is operational, once you reach that point they become running expenses that you take out of your profits as deductible against your taxable income. So you may want to delay some of your depreciable costs until your business is up and running.
Related Articles and Guides • SBA Guide to Preparing your Small Business Financing (www.sba.gov/ category/navigation-structure/starting-managing-business/starting-business/preparing-your-finances) • How to Determine your Business Financing Needs (www.sba.gov/
SBA guest blogger and credit expert Marco Carbajo • Crowdfunding Can Help You Sell a New Product or Idea (http://community.sba.gov/community/blogs/guest-blogs/ industry-word/crowdfunding-can-helpyou-sell-new-product-or-idea) by SBA
guest blogger, TJ McCue Blogged By: Caron Beesley www.mbda.gov/blogger/startingbusiness/how-estimate-cost-startingbusiness-scratch
The Minority Business Development Agency (MBDA) has announced a solicitation for competitive applications from prospective candidates to operate MBDA Business Centers in the three locations shown below. Applications must be submitted electronically and time-stamped at www.grants. gov by 11:59 p.m. Eastern Standard Time (EST) on January 17, 2012. Applications that are time-stamped after the deadline will not be considered. Houston, TX Federal Funding Years 1-4: $300,000 Competition ID#: 2262336 MBDA Dallas National Enterprise Center Baton Rouge, LA / New Orleans, LA / Shreveport, LA* Federal Funding Years 1-4: $300,000 Competition ID#: 2262337 MBDA Dallas National Enterprise Center Biloxi, MS / Gulfport, MS / Jackson, MS / Memphis, TN / Nashville, TN* Federal Funding Years 1-4: $250,000 Competition ID#: 2262338 MBDA Atlanta National Enterprise Center Visit ww.mbda.gov/main/grantcompetitions/mbda-business-centerfy-2012 for details.
MBDA GRANT COMPETITION
www.mbda.gov
Black Business News Group Wishes You a Happy, Healthy, & Prosperous 2012
The
37 January 2012 Black Business News www.blackbbusinessnews.net
Government
local Small Business Development Center (www.sba.gov/content/smallbusiness-development-centers-sbdcs) can provide valuable advice about how to calculate your startup costs. If you use a smartphone, another option that you might find useful is the SBA Mobile App (www.sba.gov/content/sbamobile-app) which includes a handy tool for calculating startup costs. Whatever you do, don’t underestimate your costs, or try to force your costs to fit the amount of money you have available. If the costs are too high, consider another approach to starting a business. • Could you run a homebased business? • Instead of buying inventory upfront could you have manufacturers drop ship? • Could you subcontract rather than hire employees? • What about buying surplus office equipment and furniture from the government at or below cost?
content/determining-your-financingneeds) • SBA Small Business Loans and Grants (www.sba.gov/category/navigation-structure/loans-grants) • 10 Cost Saving Ideas for Small Business Owners (http://community.sba.gov/community/blogs/guestblogs/industry-word/10-cost-savingideas-small-business-owners) by
38 January 2012 Black Business News www.blackbbusinessnews.net
7 Business Strategies to Make 2012 a Huge Success By Kim Anthony
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1) Get clear about what worked and what didn’t work in 2011. “Those who do not learn from history are doomed to repeat it, right? So take a moment to look back at where you’ve been over the past 12 months. For projects and initiatives that didn’t work, ask yourself why. Was it the timing, the offer, the target market? Could you have done more marketing? Better marketing?
2) Create a marketing plan. I know, this is nothing new. But many
times this very important task slips through the cracks. You know you need a marketing plan but who has the time – or know how – to put one together? That’s why I suggest writing a simple 2-page marketing strategy. On the first page, list where you are now (gross and net income, numbers of new and repeat clients or customers, amount you currently work and earn, etc.). Then set goals for where you’d like to be in a year for each of those. On page two, choose three marketing strategies you’re going to use to achieve those goals (public speaking, email marketing, direct mail, etc.). Include an actual to-do list of steps you need to take to implement each one, as well as due dates for each step.
3) Look to external partners and strategic alliances. Great businesses aren’t built by going it alone. Any entrepreneur can find someone else to interview, refer clients to, or trade promos to each other’s lists. So seek strategic partnerships and Joint Ventures. And develop a support network of at least one other entrepreneur who’s headed in your same direction you can go to for advice – or hire an experienced coach or consultant. That way you don’t waste a lot of time and money reinventing the wheel.
4) Focus on helping, not selling. If your business is only about making money, you’re likely to run into big problems trying to grow. Instead, think about your customer is going through, their needs, wants, challenges and goals – and ask yourself how you can
help them. Help them achieve their goals, and you’ll automatically achieve your own.
5) Freshen up your website. The Web is one of the least expensive and most effective places to market your business. But with all the competition out there, you can’t just throw up a basic Website and expect it to do much for you. Your site needs to be planned out and built to be an effective salesperson that connects with your ideal client – not just an online brochure that’s all about you and what you do.
6) Stop doing everything yourself. As an entrepreneur, if you want something done the reality is you probably shouldn’t be doing it yourself. Focus your time and energy on the things you’re best at, and that grow your business and make money. Leave the rest to a team of skilled Virtual Assistants. Also consider outsourcing.
7) Put YOURSELF on the Agenda It’s wonderful if you’re passionate about what you do. But all work and no play makes anyone unhappy and eventually burned out. And if you’re married or in a relationship I’d be willing to bet it’s making two (or more) people unhappy. Do something you love outside of work, get some exercise every day, and make time for friends and family. You’ll be more successful, and happier!
39 January 2012 Black Business News www.blackbbusinessnews.net
Business
e all know that our business world is rapidly changing— and not just technology-wise. People aren’t spending as they once did, manufacturing and shipping costs are all over the map, and the green/ sustainability movement has finally been ushered in. On top of that, the Internet has finally really changed the way consumers get their products and services – let alone how we entrepreneurs market our businesses. If you don’t adapt your business and your marketing tactics to the changing times you can easily become another statistic. Consider this…five years ago MySpace was all the rage. Since then, its barely mentioned as one of the tenets of an effective social media strategy, which now for the most part includes Facebook, Twitter, LinkedIn, YouTube. Unless in the music or entertainment industries, you never run into a business owner giving MySpace any time or thought these days. So to help “make lemonade” from all the lemon-flavored economic news of late -- here’s my list of seven things you can do to make 2012 your best ever!
GRANTS.GOV LISTINGS The following grant opportunity postings may be found on the Grants.gov Find Opportunities service: DOC Department of Commerce Economic Development Administration FY 2011 Public Works, Economic Adjustment, and GCCMIF Programs Opportunity, Modification 2 www07.grants.ov/search/search. do?&mode=VIEW&oppId=58457
Business
DOD Department of Defense Dept. of the Army -- USAMRAA Forward Surgical, Enroute Care, Shock, and Tissue Stabilization (FSECSTS), Modification 2 www07.grants.ov/search/search. do?&mode=VIEW&oppId=124673 DOS Department of State Bureau of Near Eastern Affairs Middle East Partnership Initiative MEPI Local Grants Annual Program Statement, Modification 1 www07.grants.gov/search/search. do?&mode=VIEW&oppId=126193 DOS Department of State Bureau of South and Central Asian Affairs U.S. - Afghan National Museum Partnership, Modification 2 www07.grants.gov/search/search. do?&mode=VIEW&oppId=126933 DOD Department of Defense Dept. of the Army -- USAMRAA Clinical Functional Assessment Investigator-Initiated Award, Modification 1 www07.grants.gov/search/search. do?&mode=VIEW&oppId=127813 HHS Department of Health and Human Services Health Resources & Services Administration
Regional Hemophilia Network, Modification 1 www07.grants.gov/search/search. do?&mode=VIEW&oppId=131013 HHS Department of Health and Human Services National Institutes of Health Practical Interventions to Improve Medication Adherence in Primary Care (R21), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131333
National Institutes of Health Behavioral Interventions to Address Multiple Chronic Health Conditions in Primary Care (R01), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131375 USAID Agency for International Development All Children Reading Competition, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131376
HHS Department of Health and Human Services National Institutes of Health Practical Interventions to Improve Medication Adherence in Primary Care (R01), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131334
HHS Department of Health and Human Services National Institutes of Health Alcohol impairment of immune function, host defense and tissue homeostasis (R01), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131394
HHS Department of Health and Human Services National Institutes of Health Lasker Clinical Research Scholars Program (Si2), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131353
HHS Department of Health and Human Services National Institutes of Health Alcohol impairment of immune function, host defense and tissue homeostasis (R21), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131396
HHS Department of Health and Human Services National Institutes of Health Application of Genomic Advances to Wound Repair (R21), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131373 HHS Department of Health and Human Services National Institutes of Health Application of Genomic Advances to Wound Repair (R01), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131374 HHS Department of Health and Human Services
HHS Department of Health and Human Services National Institutes of Health Effects of adolescent binge drinking on brain development (R01), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131413 HHS Department of Health and Human Services National Institutes of Health Effects of Adolescent Binge Drinking on Brain Development (R21), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131414 HHS Department of Health and
40 January 2012 Black Business News www.blackbbusinessnews.net
GRANTS.GOV LISTINGS Human Services National Institutes of Health Screening and Brief Alcohol Interventions in Underage and Young Adult Populations (R03), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131433 HHS Department of Health and Human Services National Institutes of Health Screening and Brief Alcohol Interventions in Underage and Young Adult Populations (R21), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131434
HHS Department of Health and Human Services National Institutes of Health Myalgic Encephalomyelitis/Chronic Fatigue Syndrome: Etiology, Diagnosis, Pathophysiology, and Treatment (R01), Grant /www07.grants.gov/search/search. do?&mode=VIEW&oppId=131453 HHS Department of Health and Human Services National Institutes of Health Myalgic Encephalomyelitis/Chronic Fatigue Syndrome: Etiology, Diagnosis, Pathophysiology, and Treatment (R21), Modification 1 www07.grants.gov/search/search. do?&mode=VIEW&oppId=131454 NSF National Science Foundation Physical and Engineering Sciences in Oncology, Grant
NSF National Science Foundation Grant Opportunities for Academic Liaison with Industry, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131474 NSF National Science Foundation Advancing Health Services through System Modeling Research, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131475 DOC Department of Commerce Economic Development Administration FY 2012 Public Works and Economic Adjustment Assistance Programs Opportunity, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131493
Modification 11 www07.grants.ov/search/search. do?&mode=VIEW&oppId=56757 NSF National Science Foundation Manufacturing Enterprise Systems Modification 9 www07.grants.ov/search/search. do?&mode=VIEW&oppId=56758 NSF National Science Foundation Manufacturing and Construction Machines and Equipment Modification 11 www07.grants.ov/search/search. do?&mode=VIEW&oppId=56760 NSF National Science Foundation Geomechanics & Geomaterials Modification 6 www07.grants.ov/search/search. do?&mode=VIEW&oppId=57239
NSF National Science Foundation Innovation and Organizational Sciences, Modification 11 www07.grants.ov/search/search. do?&mode=VIEW&oppId=46253
NSF National Science Foundation Materials Processing and Manufacturing, Modification 7 www07.grants.ov/search/search. do?&mode=VIEW&oppId=58096
NSF National Science Foundation Assembling the Tree of Life Modification 3 www07.grants.ov/search/search. do?&mode=VIEW&oppId=50630
NSF National Science Foundation Biomechanics and Mechanobiology Modification 7 www07.grants.ov/search/search. do?&mode=VIEW&oppId=58546
NSF National Science Foundation Geotechnical Engineering Modification 6 www07.grants.ov/search/search. do?&mode=VIEW&oppId=56348
HHS Department of Health and Human Services National Institutes of Health Limited Competition: Fogarty International Research Collaboration - Basic Biomedical (FIRCA-BB) Research Award (R03), Modification 1 www07.grants.ov/search/search. do?&mode=VIEW&oppId=58805
NSF National Science Foundation Civil Infrastructure Systems Modification 8 www07.grants.ov/search/search. do?&mode=VIEW&oppId=56361 NSF National Science Foundation NanoManufacturing
NSF National Science Foundation Cyber-Physical Systems Modification 3 see Grants.gov on page 42
41 January 2012 Black Business News www.blackbbusinessnews.net
Business
HHS Department of Health and Human Services National Institutes of Health Screening and Brief Alcohol Interventions in Underage and Young Adult Populations (R01), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=131435
www07.grants.gov/search/search. do?&mode=VIEW&oppId=131473
GRANTS.GOV LISTINGS www07.grants.gov/search/search. do?&mode=VIEW&oppId=60697 HHS Department of Health and Human Services HHS - Office of the Secretary Ofc. of Consumer Information & Insurance Oversight Consumer Operated and Oriented Plan, Modification 1 www07.grants.gov/search/search. do?&mode=VIEW&oppId=109093
Business
USAID Agency for International Development, Uganda USAIDKampala USAID/Uganda Literacy and Health Education Program, Modification 4 www07.grants.gov/search/search. do?&mode=VIEW&oppId=131053 USAID Agency for International Development All Children Reading Competition Modification 1 www07.grants.gov/search/search. do?&mode=VIEW&oppId=131376 HHS Department of Health and Human Services National Institutes of Health Radiological/Nuclear Medical Countermeasure Product Development Program (SBIR[R43/R44]), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=132933 USAID Agency for International Development Kenya USAID-Nairobi National Training Mechanism (NTM) Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133353 USAID Agency for International Development East Africa USAID-Kenya APHIAplus Northern Arid Lands
(APHIAplus NAL), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133373
Carson City District Office Community Fire Assistance Program, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133473
HHS Department of Health and Human Services Centers for Disease Control and Prevention, National Center for HIV/AIDS, Viral Hepatitis, Sexually Transmitted Diseases and Tuberculosis Prevention, Public Health Conference Support, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133394
EPA Environmental Protection Agency FY 2012 National Network for Environmental Management Studies (NNEMS) Fellowship Program, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133493
DOI Department of the Interior National Park Service Operation of Cuyahoga Valley Scenic Railroad, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133395
DOS Department of State Bureau Of Educational and Cultural Affairs Empowering Women and Girls Through Sports, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133513
DOI Department of the Interior National Park Service Development/maintenance of North Country National Scenic Trail, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133413 USAID Agency for International Development Mexico USAID-Mexico City GDA APS Addendum - Mexico, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133453 HHS Department of Health and Human Services Centers for Disease Control and Prevention, Development and Evaluation of a Clinic-Based Screening and Brief Intervention (SBI) for Changing Behaviors Related to Cytomegalovirus (CMV) Transmission in Pregnant Women, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133454 DOI Department of the Interior Bureau of Land Management, BLM NV
HHS Department of Health and Human Services National Institutes of Health Limited Competition: Comprehensive Partnerships to Advance Cancer Health Equity (CPACHE) (U54), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133533 EPA Environmental Protection Agency Environmental Justice Small Grants Program, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133553 USAID Agency for International Development Draft Fiscal Year 2012 Title II Development Food Aid Programs for Haiti, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133573 DOS Department of State International Narcotics and Law Enforcement Affair Mexico Merida Initiative Culture of
42 January 2012 Black Business News www.blackbbusinessnews.net
GRANTS.GOV LISTINGS Lawfulness Program, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133593 NSF National Science Foundation Plant Genome Research Program, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133613 NSF National Science Foundation Historically Black Colleges and Universities - Undergraduate Program, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133614 NSF National Science Foundation Math and Science Partnership, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133615 NSF National Science Foundation Nanomanufacturing, Grant ://www07.grants.gov/search/search.
do?&mode=VIEW&oppId=133633 NSF National Science Foundation Biomechanics and Mechanobiology Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133634
Manufacturing Machines and Equipment, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133638 do?&mode=VIEW&oppId=45802
NSF National Science Foundation Manufacturing Enterprise Systems, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133635 NSF National Science Foundation Geotechnical Engineering, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133636 NSF National Science Foundation Civil Infrastructure Systems, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=133637 NSF National Science Foundation
The United States Agency for International Development (USAID www.usaid.gov) and the Western Union Company (www.westernunion.com ) have launched the second African Diaspora Marketplace (ADM II) Business Plan Competition. ADM II is focusing the business plan grant awards toward priority, high-impact sectors in Africa, including agribusiness, renewable energy, and information and communication technology (ICT). The top 100 business plan applicants will be invited to submit full business plans for review. ADM II will select the top fifty (50) from this pool as finalists. The finalists will be invited to Washington, DC, where an “ADM II Marketplace” will be held in June 2012. The marketplace will allow them to showcase their business ideas/concepts directly to the judges who will select the winners. The top twenty (20) ventures will receive grants that will be provided in the form of cash funding and/or technical assistance. The target for the cash portion of the grants is approximately USD 50,000. Additionally, each winner will be given a separate grant for Technical Assistance that will be from USD 10,000 to USD 20,000. The deadline to submit a proposal is February 3, 2012. Read the details at the website www.diasporamarketplace. org them submit your (winning) business proposal. 43 January 2012 Black Business News www.blackbbusinessnews.net
Business
AFRICAN DIASPORA MARKETPLACE BUSINESS PLAN COMPETITION
March 5-7, 2012 Hyatt Regency, New Orleans www.growcoconference.com At GROWCO 2012 you’ll be charged and supercharged with immediately actionable take-aways - and reap huge benefits: •Be motivated by like-minded entrepreneurs. Are you enough of a “shark” to position your company to secure capital and attain entrepreneurial success? Take self-made millionaire Daymond John’s proven advice and jump in! •Gain a clear vision of your business goals. Are you struggling through this tough economy with an outdated business model? See how to get back on track by attending Alexanderst Osterwalder’s eye-opening session on Growth & Innovation. •Learn innovative business strategies and solutions. Are you maximizing the business-building technologies available to you: Hardware, software, social networking, apps? Let tech-savvy trend-setter Megan Duckett show you how it’s done. •Learn from simply being in New Orleans. Despite a devastating hurricane, small businesses here are not just thriving - they are the key drivers in job creation and the city’s recovery. Be inspired by networking with these courageous, innovative leaders.
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hen you donate $5 or more to the Create Jobs for USA Fund you’ll receive an American-made “Indivisible” wristband so you can show your ongoing support. Make your donation online at www.createjobsforusa.org or visit your nearby Starbucks company-operated store. 45 January 2012 Black Business News www.blackbbusinessnews.net
Business
Starbucks Invites You to Help Create American Jobs
WHY ARE MORE BLACK OWNED BUSINESSES USING SLATON INSURANCE GROUP? BECAUSE THEY DELIVER! Insurance Management Services As a client of Slaton Insurance Group you’ve already made the decision to work with proven resources to help your business manage its risk exposure and to stay within compliance. The independent insurance agents of the Slaton Group will help you manage risk and reduce loss while maintaining adherence to your insurance budget. We are an integrated, single source provider for your insurance needs.
STEVEN D. TURNER Slaton Group License #0G12789 Financial Advisory / Insurance Services 16161 Ventura Boulevard, Suite 382 Encino, California 91436 Telephone: 818-585-1374 E-mail: sturner@slatongroup.com Website: www.slatongroup.com
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Business Owner’s Policy (BOP) - Property & General Liability Coverage in one Policy form, generally for small and midsized practices. The package includes coverage for business interruption, valuable papers, accounts receivables, employee dishonesty and numerous other pertinent coverages.
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Commercial Package Policy (CPP) - Generally for larger practices/facilities; incorporates several policy forms including but not limited to general liability, property, automobile and crime policies.
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Professional Liability - Provides protection for rendering professional services; may apply to both individual professionals and/or businesses.
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Commercial Umbrella - An additional layer of liability protection that applies across policies to give you increased coverage limits.
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Inland Marine - Coverage for specialized, valuable equipment or equipment that is mobile.
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Commercial Auto Insurance - Protection for your owned, borrowed, or rental autos.
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Worker’s Compensation - Social insurance program designed to resolve disputes between injured employees and their employers.
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Directors & Officers
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Health Care Industry: Steven Turner and his team provide solutions across the continuum of care in medical facilities coverage, ranging from small clinics to specialized facilities and hospitals. As the environment evolves in the medical services industry, Slaton Insurance Group is ready to assist you in managing risk. Private Client Services: You’ve worked hard to provide a comfortable living for yourself and your family - we work hard to protect it. We work with you to help find personal insurance solutions that provide you the protection you need. Some of the coverage, we offer through our Private Client Services are Home insurance, Auto coverage, Board insurance, Umbrella policies, and many more converges to meet your needs.
Slaton Group is an independent insurance agency dedicated to providing quality commercial and personal insurance programs. Since we are not limited to any one company, we can shop the marketplace to give you the best protection at the most competitive price.
Get Ready to Grow in Twenty-Twelve! Benefit Corporations: Back to Purpose by Salem Kimble
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B Labs and B Corps The organization behind the B Corp brand is a non-profit called B Labs. Their vision is to harness the potential of business with a mission, stewardship, and accountability. B Labs is working to create a new model for business (www.bcorporation.net/why): “When you support a B Corporation, you’re supporting a better way to do business. Governments and nonprofits
B Corps in California The California version of Benefit Corporations bill states that Benefit Corporations must: • Have a corporate purpose to create a material positive impact on society and the environment • Redefine fiduciary duty to require consideration of non-financial interests when making corporate decisions • Report on overall social and environmental performance using recognized third party standards Surprisingly, during the efforts to get the bill approved in California, the primary opponent of Benefit Corporations was the California Association of Nonprofits. Addressing why this might be, Ben Rose writes in Defining Social Good: Nonprofits Worry About Calif. Bill on Philanthropy.com, “The fear is that some wealthy Americans would
take money they would otherwise have given to charity and invest it in for-profit corporations pursuing social goals.” However, he adds, “Advocates for the new corporate structures argue that charitable donations might in fact rise, since companies that explicitly pursue social or environmental goals also tend to be generous with their corporate philanthropy.” Doing good in the most effective manner while ensuring long-term adherence to a mission is a complex challenge. Priya Haji, founder of World of Good (an importer and reseller of handcrafted products from cooperatives - www.worldofgoodinc. com) made her purpose-driven project into a company in order to scale, but split off a connected non-profit (World of Good Foundation - www. goodworldsolutions.org) in order to preserve the mission aspect of her project. (This occurred before the existence of Benefit Corporations but is an interesting case study of the challenges and merits inherent in both companies and nonprofits.) Some great examples of B Corps that are putting people and planet alongside profits include Method (http://methodhome. com), Seventh Generation (www. seventhgeneration.com), and Numi Tea (www.numitea.com). The social and environmental challenges of the future will affect all the structures within our society, whether corporate, governmental, or nonprofit. The hope for this new type of corporation is to trigger a wave of culture shift and priority shift in corporations as a whole, to change the winning strategy to one that is accountable, ethical, and fair. http://forums.techsoup.org/cs/ community/b/tsblog/archive/2011/12/09/ benefit-corporations-back-to-purpose. aspx?utm_source=newsletter&utm_ medium=email&utm_campaign=npa
47 January 2012 Black Business News www.blackbbusinessnews.net
Business
istorically, businesses in America were given a charter for a specific public purpose that allowed them to operate and expired upon the completion of the chartered project. Profits were allowed, but they were legitimized by the mission within the business charter. In modern-day America, businesses are held legally accountable to maximize profits for shareholders, frequently at the exclusion of all else. However, some entrepreneurs and businesses don’t want this to define the character of what their company is all about. They want to ensure that the mission of their company stays intact over time and factors like environmental stewardship, community involvement, and employee well-being are legally recognized in the DNA of their founding documents. A structure has emerged to serve this purpose, called the Benefit Corporation. Recently, California joined New Jersey, Virginia, Hawaii, Vermont, and Maryland in passing legislation to create this new type of legally recognized company. A Benefit Corporation, or B Corp, is a business entity that creates a public benefit and meets tests of transparency and accountability.
are necessary but insufficient to solve today’s most pressing problems. Business is the most powerful force on the planet and can be a positive instrument for change. Companies have come under scrutiny for greenwashing and cause marketing that espouse civic engagement and environmental commitment but are not verified by an independent third party. B Labs seeks to address this problem by weeding out the good companies from the companies with good marketing. They make their full Impact Assessment (http://b-lab.force. com/GIIRS/BCorpRegistration) available for free as a resource for companies interested in learning about areas in which they could green their operations and what steps they could take to improve their corporate citizenship, even if they are not ready to become a B Labs-certified Benefit Corporation.
Get Ready to Grow in Twenty-Twelve!
Five Ways to Prosper in the Innovation Age by Tarak Modi
Business
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hy are some companies, such as Google and Apple, successful at innovation while others aren’t? The simple answer is that these thriving companies have mastered the principles of innovation. They are not afraid to venture into new, uncharted waters; on the contrary, they embrace innovation. In his 1985 book, Innovation and Entrepreneurship, management guru Peter Drucker described innovation as “the specific instrument of entrepreneurship and the act that endows resources with a new capacity to create wealth.” In Managing Creativity and Innovation, authors Richard Luecke and Ralph Katz defined innovation as “the successful introduction of a new thing or method and the embodiment, combination, or synthesis of knowledge in original, relevant, valued new products, processes or services.”
measure of its value. This concept of “value” is what distinguishes innovation from invention. In his 2011 State of the Union address, President Barack Obama challenged the United States to win the future by “out-innovating” the rest of the world. “Out-innovating” is the essence of what the Innovation Age is all about. So how does an organization thrive in this new era? Here are five principles that can help you prosper in this fundamentally unique era.
Principle 1: Innovation is 1% ideation and 99% implementation. Successful innovation is not just a brilliant idea. Rather, as noted in Equation 1, executing a successful
innovation requires both an invention and successful commercialization. In The Other Side of Innovation, authors Vijay Govindarajan and Chris Trimble noted that turning ideas into breakthrough products, services and process improvements requires a trustbased partnership with the performance engine of the organization. This partnership is essential because an idea by itself is just an abstraction. To be useful, the idea must be implemented in the form of a demonstration, prototype or product.
Principle 2: Innovation is a journey, not a destination. Innovation is an iterative process requiring continuous refinement that builds on previous successes and failures. In fact, Art Fry, the co-creator of Post-it Notes, describes innovation as a “numbers game in which you might have to go through 5,000 to 6,000 raw ideas to find one successful business.” Companies that are successful at innovation realize this. For example, Google’s philosophy of “innovation, not instant perfection” is what allows it to explore ideas by launching them early, see Prosper Through Innovation on page 49
Equation 1: Innovation = Function (Invention, Commercialization) Innovation, then, is something “new” that consumers are willing to buy and that results in a profit for the innovating organization. Equation 1, above, shows that innovation is a function of invention and commercialization, in which the combination of the invention’s practicality and the ability to commercialize it is a
“where no one has gone before” 48 January 2012 Black Business News www.blackbbusinessnews.net
Prosper Through Innovation from page 48
iteratively learning what the market wants and gradually taking the idea from being good to being great.
Principle 3: Innovation is “where no one has gone before.”
Principle 4: Innovation seeks to be free. “Information seeks to be free,” said author and futurist Stewart Brand at the first Hacker’s Conference in 1984. Since information is the lifeblood of innovation, it can be presumed that innovation also seeks to be free. The Open Government Directive issued by the Obama Administration provides a framework that can help define what freedom means in the context of innovation. To be free, innovation needs to be open, transparent and participatory. One such innovation trend is crowdsourcing, a term coined by author and contributing editor at Wired Magazine Jeff Howe. Crowdsourcing is the act of outsourcing tasks traditionally performed by an employee or contractor to an undefined, large group of people or community (the crowd) through an open call. A model for this is what Vivek Kundra did while serving as CTO of Washington, DC. He wanted to make the district’s revolutionary Data Catalog, DC.gov, more useful to the public. So he launched a contest, Apps for Democracy, which cost D.C. only $50,000 and resulted in 47 iPhone, Facebook and Web applications that have an estimated value in excess of $2,600,000. The $10,000 final prize winner is an innovative app that enables iPhone and Facebook access to the district’s 311 city service site, allowing users to submit and view service requests by category and location on an interactive map. Another form of unconstrained innovation is “open innovation,” a term coined by author Henry Chesbrough in his book Open Innovation. This concept encourages organizations to use external ideas in addition to internal ideas. Dell and Starbucks have used open innovation successfully since 2008 and have implemented hundreds of ideas from their customers. Dell’s thin notebook is the result of the idea “thin is in,” generated on Dell’s IdeaStorm open innovation platform.
Principle 5: Innovation takes
many forms. Clayton Christensen, an author and professor of business administration at the Harvard Business School, coined the term “disruptive innovation” in his book The Innovator’s Solution to describe an innovation that creates a new and unexpected market by applying a different set of values. Examples of disruptive innovation include the steam engine, automobiles, phones, plastics, personal computers and digital photography. Unfortunately, Christensen’s success in popularizing this term has, in a way, been a disservice to the field of innovation, for it is the only perception of innovation most people have. The reality is that there is much more to innovation than disruption. In fact, Christensen discussed another type of innovation, called “sustaining innovation,” which is not as radical. In Dealing with Darwin, author Geoffrey Moore identified a complete taxonomy of 15 innovation types based on a product’s or service’s life-cycle maturity. In this taxonomy, disruptive innovation is most useful in growing markets, but it’s much less useful in mature and declining markets. Innovative organizations realize that innovation comes in many forms. Therefore, rather than worrying about the disruptiveness of an idea, they focus on whether the idea can be effectively “sold” to a targeted market by adding value or meeting unmet customer needs. Innovation must be a continuous activity, so organizational leaders need to reevaluate how they think about and approach innovation. They must realize that continuous innovation that can drive sustainable competitive advantage is much broader than disruptive “eureka” moments. Creating an organizational culture that embraces a philosophy of continuous innovation requires leaders to invest, nurture and sustain an open, collaborative environment in which innovation is viewed as a long-term journey that goes “where no one has gone before.” www.baselinemag.com/c/a/Innovation/ Five-Ways-to-Prosper-in-theInnovation-Age-628097/?kc=BLBLBE MNL12192011STR2
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Most executives would give almost anything to “fix” their innovation process. It seems intuitive that if the company is not innovating enough, there must be something wrong with its innovation process. However, as Adam Richardson, a creative director at global innovation and design consultancy Frog Design, points out in his book Innovation X, “The problem is not innovation; the problem is the problem.” Richardson contends that efforts to innovate are thwarted by “X-problems,” a new class of 21st century challenges posed by an increasingly global, competitive economy that defies conventional planning. Dealing with such problems requires out-of-the-box thinking and facing tough—sometimes uncomfortable—questions that challenge the status quo. In a recent article in the Harvard Business Review, Bhaskar Chakravorty, a partner at McKinsey & Co. and a faculty member of the Harvard Business School, explained that constraining factors can be the impetus for innovation. For example, Cadbury India wanted to sell chocolate in a market where temperatures are routinely above the 100 degrees Fahrenheit. This motivated Cadbury to develop Cadbury Bytes and Chocki, which have melted chocolate in a casing of caramel that is not vulnerable to heat. These products are now “hot” sellers around the globe. Innovation can be spurred by imposing constraints where none currently exist. Indian industrialist Ratan Tata, chairman of Tata Motors, challenged his engineers to design a car to retail for the equivalent of $2,000-$2,500, making it affordable for moderate-income families in India. The result was the Tata Nano, a model for
affordable, no-frills cars worldwide.
Get Ready to Grow in Twenty-Twelve!
Innovation Lessons That Any Retailer Can Learn From Apple
Business
by Reena Jana
O
ne retail success story that numerous companies would love to emulate is that of Apple Stores. Of course, not every retailer is Apple, and not every company makes a blockbuster product like an iPad. But to figure out what specific innovation lessons that any retailer can learn from Apple, I turned to John Edson, president of the design firm Lunar, whose client list includes Apple–as well as Google, Intel, Nike, and numerous other leading companies. Edson, a lecturer on design at Stanford University, is currently writing the forthcoming book Design Like Apple: Ten Principles for Creating
Insanely Great Products, Services and Experiences, due out next summer from publisher John Wiley and Sons. Here’s our exchange: SmartPlanet: What are the most exciting retail concepts you’ve noted recently–and are they all practiced at Apple Stores? Edson: Technology has been trying to move into the retail space, promising to increase efficiency or even make for a better and cooler customer experience. How long have we been hearing about “contactless payment” systems–wireless technology at the grocery checkout that can sense
everything we have in our carts at once to speed us out of the store? We are definitely starting to see some of these future payment visions come to life. Most people have encountered a self-checkout system, and electronic wallets are finally available on some cell phones and at some retailers, especially in my homeland, Silicon Valley. These are inevitable improvements to streamline the payment process. Apple has done this best. Their enormous, friendly and
50 January 2012 Black Business News www.blackbbusinessnews.net
see Retail Innovation on page 51
Retail Innovation from page 50
Electronic Wallet
other events. Apple recognizes that the future of retail resides in leveraging place, people and product in a way that cannot be replicated by competitors, including their own online store. And of course, unlike the Gateway experience,
Zambezi Bazaar
process? How can they celebrate the products themselves in an enticing way that gives consumers the feeling of a test drive? Lots of retailers are doing this well, perhaps most notably Ikea, which forces consumers through a scripted experience of their products staged in pseudo home environments. You can’t even purchase Ikea products online. The second exercise could be more instructive for finding future retail innovations. The second question is what would their stores be like without any of their product available in them? People are increasingly comfortable with buying stuff online, so what do they have in their stores that would bring customers by? What’s their Genius Bar? It’s hard to find a book store these days that doesn’t have a coffee counter, for instance. A beautiful store, a free experience, or a how-to class are all elements that you cannot get online. ww.smartplanet.com/blog/designarchitecture/q-a-john-edson-presidentof-lunar/2730?tag=nl.e660
51 January 2012 Black Business News www.blackbbusinessnews.net
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knowledgeable sales team is armed with portable scanners. They can help you pick out the right iPhone case, and then whisk you out of the store with your purchase. “Do you want me to email you your receipt?” Absolutely! No waiting in line, because, again, it’s all about the product, and once you have your product, you should go start using it immediately. SmartPlanet: What role does store design play in terms of Apple’s influence on business innovation? Edson: The most promising and successful retail design innovations can all be found at the Apple Store. When Apple launched their retail stores a decade ago, I thought they were nuts. Gateway Computers had just about sunk their ship by opening retail stores, and Apple had definitely turned their ship with the successful iMac, but they were still in a somewhat frail position to make such a big bet. Their vision has become an enormous success. The primary source for their success is that they don’t treat the store as merely a place to buy computers. You can buy computers online. But the store is the beautiful embodiment of the Apple brand and a wonderland where consumers can experience products, get help and even attend classes and
you can actually walk out of an Apple Store with a computer; Gateway stores were merely places you could go to order a computer. The genius behind the Genius Bar is that consumers are lured to the store for free assistance with their Apple stuff, and in the process, they are exposed to all the wonderful new products, accessories and services that Apple offers. Not only that, but through the Geniuses, Apple gets one-to-one access to their customers, creating the perfect sales situation, especially for technology products that many customers find confusing. Who better to recommend the right product than a “Genius” in the softest of sells in retail? Apple stores maximize the best things about a store and minimize the minutiae. The stores are organized like a museum where you can touch the exhibits. They have lots of working units on display to get people experiencing their products firsthand. After all, it’s all about the products. SmartPlanet: Can you suggest actual innovation exercises that companies can engage in to improve their retail design strategies? Edson: There are at least two exercises for other retailers to consider based on lessons from Apple’s–and other innovative retailers’–stores. First, they should ask themselves how can their stores become wonderful playgrounds for the products they are selling while simplifying the actual purchase
Get Ready to Grow in Twenty-Twelve!
Four Event Marketing Predictions for 2012 by Kristin Veach
S
o what will 2012 bring? How can marketers embrace the latest trends to make their events more exciting and engaging? Here are my four event-marketing predictions for 2012. 1. The use of RFID and socialenabled sharing will increase Because of smartphones, photosharing and location check-ins are no-brainers. And marketers, as well as tradeshow and event attendees, have been using smartphones to share their event experiences via Facebook photo albums, TwitPic, Flickr, and so on. But 2012 could well bring automatic social-enabled sharing thanks to radio frequency identification (RFID-http:// en.wikipedia.org/wiki/Radio-frequency_ identification). The Ushuaia Beach Hotel
automatically posts to their Facebook page. Or, companies could use an RFIDenabled strategy to set up a photosharing station for event attendees to automatically post pics of themselves with an industry expert or celebrity. Or, attendees could be rewarded for multiple RFID demo-station visits, with fun product facts being posted to Facebook at each check-in. A show organizer could create an RFID show-floor tour that would guide attendees to booths introducing new products. That strategy would increase attendee engagement and stretch the event experience to guests’ social networks—greatly increasing visibility for a company and its offerings.
Press_Events/Press_Releases/2011/9/ comScore_Releases_August_2011_U.S._ Online_Video_Rankings), nearly 200
million users watched online video content in August 2011. 2012 will offer tradeshow and event marketers new opportunities to embrace the power of online video. Go beyond the best-practice of using an event to generate video content
in Ibiza, Spain, and Great Wolf Lodge in the US began pilot RFID programs that automatically share guests’ photos and activity on Facebook. With RFID, no computers or smartphones are needed to make social updates. Hotel guests set up a RFID wristband at check-in and connect it to their Facebook profile. When they swipe their wristbands at special check-in locations, a photo or other content
(www.livemarketing.com/smarter-eventspending-tips/creating-web-videos-atevents), such as vlogs, customer
testimonials, product demonstrations, or expert interviews. Consider using live video streaming to extend your event’s reach to a larger audience. For example, a keynote session could be broadcast to your event-specific microsite, allowing nonattendees to hear trends or an executive’s high-level vision. Or, remote product experts could be brought into
3. Event marketers will have more ways to go mobile More than five billion people worldwide are mobile users—meaning more than three-quarters of the planet is mobile! Mobile app downloads are projected to reach 98 billion by 2015! In 2012, show organizers will start embracing more robust event mobile apps. Sundance Film Festival organizers developed an event app that allowed users to subscribe to email updates, tell friends about the app with pre-filled messages, and make Gowalla (a location-based service) check-ins. Mobile event apps can create a better attendee experience. Real-time conference information, enhanced onsite networking, surveys and polling, and better measurement could mean big payoffs. 4. Cause-related marketing activity will rise In recent years, companies have been increasing initiatives around social and charitable causes. As shows and industries limit or suspend giveaways, marketers will incorporate more cause-related marketing activities within their events in the upcoming year. Cause-related marketing is ripe for PR and buzz, and doing good in the world builds brand goodwill. Including a cause-related initiative at your show will allow attendees to feel part of something meaningful. Creating a cause-related activity doesn’t have to cost a lot of money, and it can be very simple. You could use a booth photo activity to create a living “charity wall,” with every photo taken resulting in a donation or event attendees could collaborate in building playground equipment or a bench for a local school. www.marketingprofs.com/ articles/2011/6584/four-eventmarketing-predictions-for2012?adref=nl121211&utm_ source=mpt&utm_ medium=howto&utm_ campaign=basic&utm_ term=events&utm_content=article
53 January 2012 Black Business News www.blackbbusinessnews.net
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2. New video marketing opportunities will emerge The power of video continues to generate big headlines. According to a ComScore report (www.comscore.com/
booth panel discussions via video, saving travel costs and limiting time away from the office.
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Before you grill, Before you bake,
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& Shake, Shake, Shake!
Order Via the Internet Wines of the Black-Owned wineries of South Africa. Register at TheArtfulGrape.com. The Artful Grape will do the rest. The wines will be delivered to your door.
54 January 2012 Black Business News www.blackbbusinessnews.net
Get Ready to Grow in Twenty-Twelve!
7 Small Business Tips to Make 2012 a Huge Success by Stacy Karacostas
N
o one could argue that our world isn’t changing fast—and I don’t mean just technology-wise. Consumers aren’t spending like they once did, manufacturing and shipping costs are fluctuating wildly, and the age of the environment is slowly (finally) being ushered in. On top of that, the Internet has finally really changed the way people shop and buy – not to mention the way we entrepreneurs market our businesses.
1) Make a list of what worked and didn’t work in 2011. Those who do not study history are doomed to repeat it, right? So take a
2) Create a marketing plan. Yeah, I know. You know you need one but who has the time – or know how – to put one together, right? That’s why I advocate writing a 2-page marketing plan. On the first page, list where you are now (gross and net income, numbers of new and repeat clients or customers, amount you currently work and earn, etc.). Then set goals for where you’d like to be in a year for each of those. On page two, choose three marketing strategies you’re going to use to achieve those goals (public speaking, email marketing, direct mail, etc.). Include an actual to-do list of steps you need to take to implement each one, as well as due dates for each step. 3) Look to external partners. Great businesses aren’t built by sitting alone in an office. Any entrepreneur can find someone else to interview, refer clients to, or trade promos to each other’s lists. So seek strategic partnerships and Joint Ventures. And develop a support network of at least one other entrepreneur who’s headed in your same direction you can go to for advice – or hire an experienced coach or consultant. That way you don’t waste a lot of time and money reinventing the wheel. 4) Focus on helping, not selling.
If your business is solely about making money, you’re likely to run into big problems trying to grow. Instead, think about your customer’s wants, needs, problems and goals, and how you can help them. Help them achieve their goals, and you’ll automatically achieve your own. 5) Update your Website. The Web is one of the least expensive and most effective places to market your business. But with all the competition out there, you can’t just throw up a basic Website and expect it to do much for you. Your site needs to be planned out and built to be an effective salesperson that connects with your ideal client – not just an online brochure that’s all about you and what you do. 6) Stop doing everything yourself. As an entrepreneur, if you want something done the reality is you probably shouldn’t be doing it yourself. Focus your time and energy on the things you’re best at, and that grow your business and make money. Leave the rest to a team of skilled Virtual Assistants. 7) Have a life. It’s wonderful if you’re passionate about what you do. But all work and no play makes anyone unhappy and eventually burned out. And if you’re married or in a relationship I’d be willing to bet it’s making two (or more) people unhappy. Do something you love outside of work, get some exercise every day, and make time for friends and family. You’ll be more successful, and happier! www.startupnation.com/businessarticles/9757/1/small-business-tips2012-huge-success.html
55 January 2012 Black Business News www.blackbbusinessnews.net
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If you don’t change your business, and your marketing, to keep up with changing times you can easily become another failure statistic. Think about it…five years ago MySpace was all the rage. Since then its usage has dropped dramatically, you hardly ever hear about it anymore. You never run into a business owner giving MySpace any time or thought now. So to help you thumb your nose at all the dire economic news and make 2012 your best ever, here’s my list of 7 things you can do to make it happen.
step back and look at where you’ve been. For those initiatives that didn’t work, consider why. Was it the right timing, the right offer, the right target market? Could you have done more marketing? Better marketing?
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.
Get Ready to Grow in Twenty-Twelve!
Top Retail Trends for 2012 by Jim DeBetta
F
or inventors and entrepreneurs, the time to bring that product idea in your mind to life is now! By creating products that match well with current consumer demand, you may be well positioned to offer consumers innovative items that they are seeking and reap the rewards of your hard work. Popular websites who regularly monitor retail trends and consumer buying habits such as Trendwatching. com, euromonitor.com, retailingtoday. com, reuters.com, and cesweb.org have conducted various studies with consumers as well as manufacturers to learn what types of products people may wish to purchase in the coming year. Combined with conversations with leading retail chain buyers and our own perceptions of social trends, here is what we predict will be HOT.
HOT CATEGORIES FOR 2012
play items like backyard toys such as inflatables, playhouses, sand and play boxes, and even board games continue to sell well despite a digital world. Pet Products According to Packaged Facts, a leading market research firm, the pet
Juvenile Products All natural and organic are hot buzz words when it comes to baby products! Items such as strollers, eco-friendly teddy bears, and convenience items for moms that care for babies all day will be in high demand as parents are craving lifestyle items that make their days easier and less stressful. Baby Boomer Products This is and will continue to be a fast growing category as the first wave of baby boomers that turn sixty will be in the tens of millions. This group continues to demand more relevant products that keep them looking and feeling young. From technology products such as gadgets, brain games, and fitness items, there are abundant opportunities for inventors to create products that will be needed
for years to come. I have spoken with a few buyers that mentioned they are seeking magnification products, items that amplify sound, and technology items such as sleep assistive devices that help people to fall asleep easier. Video Game Accessories
Here is a category that just gets getting bigger and better. According to Fox News, this ever growing market may surpass the 20 billion dollar mark in 2012 for the consoles and software alone! The accessory market for items such as game pads is already in excess of 1 billion dollars leaving inventors with a lot of opportunity to cash in on this fast growing segment. There are millions of kids and adults who regularly play video games. With in demand video consoles such as Wii, Xbox 360, and Playstation 3, there is a great opportunity to create accessory items and devices that make the personal gaming experience more enjoyable. Organic Products Organic products are in demand and will be desired at by retail buyers. Organic does not only mean food items. Clothing, handbags, and bath and body products are just a few examples of products that are made of organic materials. Consumer Electronics According to the Consumer Electronics Association, slim multimedia cell phones (MP3, web a c c e s s ) , cameras, functional watches, tablet PC’s, and flat screen TV’s will continue to be popular while decreasing in price. Creating accessories for these items will be in demand according to retail buyers such as computer accessories and organizational products such as unique furniture to keep files and media in one place. www.startupnation.com/businessarticles/9753/1/retail-trends-2012.htm
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Toys and Games Always a popular category! I have read numerous articles from manufacturers who plan to expand their product line to include outdoor
products industry is still growing and could surpass the 12 billion dollar mark in 2012. Convenience items such as travel accessories for pets will make up a large portion of the growth and all natural products will be in demand.
Artwear
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Handpainted Handbags • Skirts • Tees Accessories • Calendars • Wall Hangings And More! http://gbabysworld.blogspot.com Gbabyartwear@hotmail.com or Gbabyart345@gmail.com Find Gbaby Products at the “Collective” http://www.atthecollective.com 280 Elizabeth Street, Atlanta, GA
Get Ready to Grow in Twenty-Twelve!
Using Technology in Your Trade Show Booth by Michael Flavin
S
of attendees, and contact / meeting technology that allows the attendees to look at all the business profiles and contact exhibitors in advance for appointments. 2. Interactive Activities. It’s a lot more fun to touch and feel something
tap into the technology available. Here are some effective options that clients often consider: 1. Pre-Show Technology. Before you even set up your trade show booth you will encounter technology options offered by the trade show organization. Investigate what’s available and take full advantage of those items that can maximize your effectiveness. Shows typically offer exhibitors with sponsorship opportunities on their web site, email lists & addresses
than to passively observe a product in action. If you want your trade show exhibit to be the show stopper you can use interactive technology to give your prospects an opportunity to be entertained and informed. The type of device you use will vary according to your product line. Touch screens allow companies to gain attendees interaction and help them to quality or disqualify them as a potential customer. Games can be incorporated in a number of ways, such as a prize game
www.skylinetradeshowtips.com/usingtechnology-in-your-trade-show-booth
59 January 2012 Black Business News www.blackbbusinessnews.net
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uccess at a trade show requires finding a way to capture the attention of the largest number of attendees. Nothing can catch the eye like light, sound and motion. If you want to make the most of your trade show opportunity you need to
like slot machines, Plinko boards, TossN-Win games among others, but make sure the game is tied to your product offering. 3. Video Loops. An attention getting video will use vivid imagery, music, color and movement. The video should eye-catching while being concise and to the point. Make sure the material is up-to-date — don’t use one from last year that has out-of-date products featured. Many trade show exhibits can hold monitors of all sizes, even portable displays, like the Skyline Mirage with Monitor Mount or Stratus Table Workstation. 4. DVDs and Flash drives. After you draw the viewers into your trade show exhibit you need to have something more than a key chain to offer qualified prospects. Be prepared to follow-up your conversation with promise to mail or FedEx DVDs or flash drives that contain relevant product presentations to give to anyone who shows more than a passing interest. The combination of video or an interactive digital piece is a complimentary marketing tool to printed materials such as brochures. 5. Social Media. A newer addition to the trade show technology toolbox, social media, can be a cost effective marketing medium. Many people use smart phones — sites like Facebook, Twitter and Foursquare allow exhibitors and attendees connect before, during and after trade shows. Post updates about your trade show exhibit & show experience on your Facebook Fan Page. Follow Twitter hash tags for the show to find & interact with attendees. Create a check-in for your booth space for attendees to create an interactive experience. 6. iPads & Tablets. While these items are also new trade show technology additions, they can be added to your booth experience as more than just a giveaway. Create an app for attendees to download on their tablets. Use iPads to demo your web site or share product photos. Create a testimonial video with a satisfied customer, which you can share during a conversation. Take notes and develop a digital lead card for booth staffers.
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.asknature.org Need help and inspiration with creating designs and approaches for for eco-friendly living and working? Visit AskNature. Nature’s elegant solutions to building challenges include the Scots pine’s adaptive growth, the thorny devil’s passive water collection, and a leaf’s on-site energy
world. From the day we launched the very first Connectify beta in late 2009, it was clear that we weren’t the only ones who wanted more control over our wireless networks. Today, with Connectify Pro, users are increasingly taking advantage of new value-added premium features that go beyond WiFi sharing, allowing users to interact with connected computers and devices, and much more. And while our users’ networking needs continue to grow, the Connectify team is hard-atwork developing additional features and new, cutting-edge Connectify applications across an increasing number of computer and mobile operating systems.
www.delta.com/app
www.connectify.com Connectify was born in a marathon of late-night software development. We simply wanted to connect to each other, share Internet connections, and get our devices online, without paying a fortune or carrying more hardware in our already overstuffed computer bags. The Connectify software has garnered millions of downloads in a matter of eighteen months, becoming an essential app for people all over the
http://oli.web.cmu.edu/ openlearning/index.php The Open Learning Initiative (OLI) is an open educational resources project that began in 2002. We use knowledge from learning science and the affordances of the web to transform instruction, significantly improve learning outcomes and to achieve significant increases in productivity in post secondary education. Our courses are designed based on learning science research and contribute to that research. We provide open access to our courses and materials. Like many open educational resources projects, ours makes its courses openly and freely available. OLI online courses are designed to support an individual learner, who does not have the benefit of an instructor. Submitted by LaSandra Stratton, Chief Content Administrator of the Black Business News.
61 January 2012 Black Business News www.blackbbusinessnews.net
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production. AskNature can help you solve your design challenges. AskNature is the online inspiration source for the biomimicry community. Whether you’re a biologist who wants to share what you know about an amazing organism, or a designer, architect, engineer, or chemist looking for planetfriendly solutions. AskNature is where biology and design cross-pollinate, so bio-inspired breakthroughs can be born.
Want to keep track of your checked luggage? Now, Delta says it has an app (free) for that. The airline’s app, available for Android, Windows, and iPhone platforms, will now allow travelers to track their check bags. Delta says a BlackBerry version of the app is in the works. Delta users are able to track the location of their bags online. Passengers enter the number (or scan the barcode) on their baggage receipt
and can then track their bag’s progress throughout the trip. The app also tells passengers at which carousel they can retrieve their luggage. The app also helps you take care of key travel tasks on the go like: • check in within 24 hours for domestic flights. • download mobile boarding passes (where available). • rebook canceled or misconnected flights. • view a seat map and select or change your seat. • check your status on the upgrade or standby list. • check the latest flight status and get terminal and gate info. • track and pay for bags • map flights en route with an interactive flight tracker. • see your SkyMiles balance and current Medallion status. • save a photo and make note of your parking spot. (note: this feature requires camera permissions) • get detailed info about Delta’s fleet American Airlines and several other services offer similar apps.
Get Ready to Grow in Twenty-Twelve!
Ten Rules of Great Companies by Dennis McCafferty conventional wisdom, and authority figures than original research and evidence.
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uccessful organizations should stress long-term planning and an intense focus on understanding their own businesses and markets, say
University of California, Berkley. For more about the book visit www. harpercollins.com/books/GreatChoice.
3) THE LONG MARCH Leaders pursue long-term, lasting success; they don’t measure gains by the quarter.
4) POINTERS AND PERSPECTIVE Set clear performance markers and a timeframe that is long enough to manage but short enough to see results.
5) FIRE BULLETS THEN CANNONBALLS Instead of plunging in, invest in lowrisk tests to validate what works.
6) OBSERVATION TRUMPS INTUITION
7) BEWARE OF THE MORTAL THREAT Recognize that a bad event can wipe out good companies at any time. authors Jim Collins and Morten T. Hansen in the book, Great by Choice: Uncertainty, Chaos, and Luck: Why Some Thrive Despite Them All (HarperBusiness/Available now). While many firms charge ahead with gambles on what consumers will want next, Collins and Morten advise a more measured approach. The authors base their findings on nine years of researching top companies, during which they deployed a 20-member team. They dub the companies in focus as the “10Xers,” meaning they’ve built enterprises that constantly outperform their industry averages. A former Stanford Graduate School of Business instructor, Collins is a Boulder, Colo.based management expert. Hansen is a management professor at the
1) EYES ON THE PRIZE
8) PREPARE FOR DISASTER
Preach consistency of action in goals and performance standards to cultivate focus.
10Xers are much more liquid in terms of assets than other companies.
2) SHOW YOUR WORK Seek answers less from peers,
9) MAXIMIZE ROL (RETURN ON LUCK) Good businesses that stumble into fortune have the talent base and work ethic in place to exploit it.
10) HEDGE YOUR BETS Don’t put yourself in a position where one bad bet wipes out the house. www.baselinemag.com/c/a/ITManagement/Ten-Rules-of-GreatCompanies-179774/?kc=BLBLBE MNL12092011INDEPTH
The Long March
63 January 2012 Black Business News www.blackbbusinessnews.net
Eyes on the Prize johnnymyersstudio.com
Business
Big bets based on hunches go wrong more than choices backed by research and experience.
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65 January 2012 Black Business News www.blackbbusinessnews.net
The
Black Business News Group Wishes You a
Happy, Healthy, & Prosperous
2012
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infrastructure needed up and running Get Ready to Grow in Twenty-Twelve! to get a new venture off the ground. to capital: It may be 5 Reasons to be Optimistic About diffi3)cultAccess to convince banks or venture that your idea is the next Technology Innovation in 2012 capitalists big thing, but many entrepreneurs
by Joe McKendrick
J
sizes, as well as government agencies to develop new ideas from experts and thinkers from across the spectrum. 2) Entrepreneurial resources: There was a time when launching a serious startup required serious capital for hiring talent, marketing and promotion, office space, and for technology to make it all happen. Thanks to the availability of powerful and low-cost on-demand technologies, innovators now have access to computing and information resources unheard of even a few years ago. Thanks to cloud computing and social networking resources, it now costs virtually pennies to secure and get the
Quote of Note...“It’s harder to end a war than begin one…we are ending a war not with a final battle, but with a final march toward home.”
President Barack H. Obama
67 January 2012 Black Business News www.blackbbusinessnews.net
Business
ust as the moribund economy of the early 1980s was fueled in part by Silicon Valley and the software industry, and the moribund economy of the early 1990s exploded into the Internet and dotcom boom, entrepreneurs and innovators are laying the seeds to a new economic boom. And, again, technology is driving things. The recent economic slowdown was and still is painful for many, but it was also met by the converging forces of social, on-demand and mobile computing, which dramatically tilted the scales toward consumers, employees and entrepreneurs alike. Consider areas of opportunity which are occurring under the radar of government unemployment statistics: 1) New innovation: Previously, innovation was limited to the imagination of staff members within organizations. Now, everyone can participate in projects that interest them. The “crowdsourcing” approach is being employed by companies of all
are doing their own fundraising. The “crowdfunding” approach, as explained in Knowledge@Wharton (http://knowledge.wharton.upenn. edu/article.cfm?articleid=2647), helps get projects off the ground by tapping support from fans and other interested parties. This has long been practiced by politicians and charities, but now “the adoption of social networking makes crowdfunding feasible even for the average citizen with a dream and some creative talent.” 4) Economic boosts for distressed communities or regions: Thanks to the Internet and social networking, residents of communities falling out of the mainstream of economic activity — because of plant closings, for example — have access to the same information and educational opportunities as those in thriving areas. Cloud and social technologies reach and serve any location with Internet connectivity. Residents of Appalachia or impoverished areas of the Southwest who seek greater learning and opportunity now can access online courses from the Massachusetts Institute of Technology (http://ocw. mit.edu/index.htm) or CarnegieMellon University (http://oli.web.cmu. edu/openlearning/index.php). 5) Recruiting and employment tools: A survey from Jobvite reveals more than 22 million Americans used social networks (LinkedIn, Facebook and Twitter) to find their most recent job opportunity — up 7.7 million from last year’s survey. One in six members of the workforce say an online social network was one of the sources they used to find a job, and those with more contacts get better results. For example, every Wednesday on Twitter, for example, many people swap knowledge of job openings with messages via the #WorkWednesday trending hashtag. This time around, many people have been empowered, rather than being victims as in previous economic troughs.
YEAR-END PLANNING TIPS TO REDUCE 2011 TAXES
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here is still time for you to take steps that can lower your 2011 taxes. However, you usually need to take action no later than Dec. 31 in order to claim certain tax benefits. Here are six tax-saving tips for you to consider as the calendar turns to 2012:
1. Make Charitable Contributions - If you itemize deductions, your donations must be made to qualified charities no later than Dec. 31 to be deductible for 2011. You must have a canceled check, a bank statement, credit card statement or a written statement from the charity, showing the name of the charity and the date and amount of the contribution for all cash donations. Donations charged to a credit card by Dec. 31 are deductible for 2011, even if the bill isn’t paid until 2012. If you donate clothing or household items, they must be in good used condition or better to be deductible. 2. Install Energy-Efficient Home Improvements - You still have time this year to make energy-saving and green-energy home improvements and qualify for either of two home energy credits. Installing energy efficient improvements such as insulation, new windows and water heaters to your main home can provide up to $500 in tax savings. Homeowners going green should also check out the Residential Energy Efficient Property Credit, designed to spur investment in alternative energy equipment. The credit equals 30 percent of the cost of qualifying solar, wind, geothermal, or heat pump property. For details see Special Edition Tax Tip 2011-08, Home Energy Credits Still Available for 2011 on the IRS.gov website. 3. Consider a Portfolio Adjustment - Check your investments for gains and losses and consider sales by Dec. 31. You may normally deduct capital losses up to the amount of capital gains, plus $3,000 from other income. If your net capital losses are more than $3,000, the excess can be carried forward and deducted in future years. 4. Contribute the Maximum to Retirement Accounts - Elective deferrals you make to employer-sponsored 401(k) plans or similar workplace retirement programs for 2011 must be made by Dec. 31. However, you have until April 17, 2012, to set up a new IRA or add money to an existing IRA and still have it count for 2011. You normally can contribute up to $5,000 to a traditional or Roth IRA, and up to $6,000 if age 50 or over. The Saver’s Credit, also known as the Retirement Savings Contribution Credit, is also available to low- and moderate-income workers who voluntarily contribute to an IRA or workplace retirement plan. The maximum Saver’s Credit is $1,000, and $2,000 for married couples, but the amount allowed could be reduced or eliminated for some taxpayers in part because of the impact of other deductions and credits. 5. Make a Qualified Charitable Distribution - If you are age 70½ or over, the qualified charitable distribution (QCD) allows you to make a distribution paid directly from your individual retirement account to a qualified charity, and exclude the amount from gross income. The maximum annual exclusion for QCDs is $100,000. The excluded amount can be used to satisfy any required minimum distributions that the individual must otherwise receive from their IRAs in 2011. This benefit is available even if you do not itemize deductions. 6. Don’t Overlook the Small Business Health Care Tax Credit - If you are a small employer who pays at least half of your employee health insurance premiums, you may qualify for a tax credit of up to 35 percent of the premiums paid. An employer with fewer than 25 full-time employees who pays an average wage of less than $50,000 a year may qualify. For more information see the Small Business Health Care Tax Credit page on IRS.gov. And here is one final tip to remember: you should always save receipts and records related to your taxes. Good recordkeeping is a must because you need records to prepare your tax return, and it will help you to file quickly and accurately next year. Give us a call (310) 515-7316. We are here to help you. Sincerely, L C Green, Jr. LC Green & Associates www.lcgreen.net 68 January 2012 Black Business News www.blackbbusinessnews.net
Get Ready to Grow in Twenty-Twelve!
10,000 Small Businesses Program to be Offered by Los Angeles City College
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os Angeles City College (LACC) launched the 10,000 Small Business program in 2010. Over 40 businesses had the opportunity to participate. The LACC 10,000 Small Businesses program is open again for participants in the upcoming 2012 semester.
10,000 Small Businesses is a five year initiative created by Goldman Sachs (www2.goldmansachs.com/
and job-creation potential across the United States through greater access to business education, financial capital, and business support services. In recent decades, small businesses have created two-thirds of the net new jobs in this country. 10,000 Small Businesses’ objective is to help small business owners in communities across the country grow their companies and create jobs. The initiative will enable small business owners to access a dynamic combination of coursework, business advising, and other services that will help them grow their firms. The program will be delivered in three components:
LACC is seeking small business owners to participate in its next 10,000 Small Businesses cohort. Each business owner that is selected to participate in this four month program at Los Angeles City College will receive a scholarship to cover program costs and materials. The program is intended for business owners with limited financial resources and with few opportunities to otherwise access a business education designed to enhance small business success. Applicants should: • own a business that is poised for growth, • have been in operation for at least two years, and • have a minimum of four employees. They should also demonstrate that they have thought critically about opportunities to grow their firms and create jobs. The application deadline is January 23, 2012. Learn more and apply to participate in the LACC 10,000 Small Businesses program at www.lacc10ksb.com.
69 January 2012 Black Business News www.blackbbusinessnews.net
Business
citizenship/10000-small-businesses/index.
html) to unlock the economic growth
• Business and Management Education, • Business Support Services, and • Access to Capital.
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City of Los Angeles Business Inclusion Program The City of Los Angeles is striving to increase the participation of small, emerging, veteran, women and minorityowned 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
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M.I.T. to Offer Courses “Free of Charge” to Anyone
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to offer from the comfort of their own computer screen. However, that is all they can do: watch. Khan Academy (www.khanacademy.org), another notable online education site, offers a largely free interactive experience to its users through assessments and exercises, but it limits itself to K-12 education. By contrast, M.I.T.x will combine the interactivity of the Khan Academy with the collegiate focus of Academic Earth, while drawing primarily from M.I.T.’s advanced course material. “M.I.T. has long believed that anyone in the world with the motivation and ability to engage M.I.T. coursework should have the opportunity to attain the best M.I.T.-based educational experience that Internet technology enables,” said M.I.T. President Susan Hockfield in the university’s press release. According to the New York Times, access to the software will be free. However, there will most likely be an “affordable” charge, not yet determined, for a credential. The program will also save individuals from the rigors of the cutthroat M.I.T. admissions process, as online-only students will not have to be enrolled in the prestigious, yet expensive, university to access its online teaching resources.
The university doesn’t plan to launch a prototype of the platform until the spring of 2012 and the prototype might include only one course, but it would quickly expand to include many more courses. Once launched, M.I.T. officials expect the M.I.T.x platform to be a giant hit amongst other universities looking to create or expand upon their online course materials. “Creating an open learning infrastructure will enable other communities of developers to contribute to it, thereby making it self-sustaining,” said Anant Agarwal, director of the Computer Science and Artificial Intelligence Lab in the M.I.T. press release. Whether M.I.T.x will directly threaten the margins at for-profit online universities, such as the University of Phoenix, American Public University System (APUS), or DeVry remains to be seen. But as M.I.T.x starts to provide many of the salient virtues of for-profit online colleges, such as a robust learning management systems and real-time virtual interaction, these publicly traded education companies might have to lower fees in order to compete with M.I.T.x’s compelling free price. In addition, the success of M.I.T.x, OCW, and Academic Earth may push dramatic technological innovation at for-profits, so that they can maintain a unique selling proposition versus their free competitors. Moreover, as the rapidly growing number of what are termed “self educators” choose free college education, a cottage industry of social media support services might evolve to bring them together for free in-person study and help sessions. Which is all to say that, against this country’s sizable need for STEM (Science, Technology, Engineering, and Math) graduates, M.I.T.x is nothing short of revolutionary. This is especially true if you aren’t a credential freak and just want to improve your chops in a marketable subject area. www.forbes.com/sites/ jamesmarshallcrotty/2011/12/21/m-i-tgame-changer-free-online-educationfor-all/ http://web.mit.edu/newsoffice/2011/ mitx-education-initiative-1219.html
71 January 2012 Black Business News www.blackbbusinessnews.net
Community/Public Inerest
he Massachusetts Institute of Technology (M.I.T.) has announced that they intend to launch an online learning initiative called M.I.T.x, which will offer the online teaching of M.I.T. courses free of charge to anyone in the world. The program will not allow students to earn an M.I.T. degree. Instead, those who are able to exhibit a mastery of the subjects taught on the platform will receive an official certificate of completion. The certificate will obviously not carry the weight of a traditional M.I.T. diploma, but it will provide an incentive to finish the online material. According to the New York Times, in order to prevent confusion, the certificate will be a credential bearing the distinct name of a new not-for-profit body that will be created within M.I.T. The new online platform will look to build upon the decade-long success of the university’s original free online platform, OpenCourseWare (OCW) (http://ocw.mit.edu/index.htm), which has been used by over 100 million students and contains course material for roughly 2,100 classes. The new M.I.T.x online program will not compete with OCW in the number of courses that it offers. However, the program will offer students a greater interactive experience. Students using the program will be able to communicate with their peers through student-to-student discussions, allowing them an opportunity to ask questions or simply brainstorm with others, while also being able to access online laboratories and selfassessments. In the future, students and faculty will be able to control which classes will be available on the system based on their interests, creating a personalized education setting. M.I.T.x represents the next logical evolution in the mushrooming business
of free online education by giving students an interactive experience as opposed to a simple videotaped lecture. Academic Earth (http:// academicearth.org) has cornered the market on free online education by making a smorgasbord of online course content – from prestigious universities such as Stanford and Princeton – accessible and free to anyone in the world. Users on Academic Earth can watch lectures from some of the brightest minds our universities have
The World Bank
Bank of the West Commits $1.7 Million to Operation HOPE’s Efforts to Promote Financial Dignity
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activities include: • The launch of the Denver and Portland Banking on Our Future locations • The opening of a HOPE Center in Oakland • Support for HOPE Coalition America (financial emergency preparedness and disaster recovery) • Support for financial literacy town halls and forums in Oakland and Denver • Volunteer participation teaching school children about money at Banking on Our Future events. Headquartered in Los Angeles, Operation HOPE promotes financial dignity through financial literacy and education tools to underserved communities in more than 71 cities worldwide. In 2012, HOPE will celebrate two decades of making the free market system work for lowincome communities in an effort to eradicate poverty and build dignity. About Bank of the West Founded in 1874, $61.9 billion-asset Bank of the West (www.bankofthewest. com), member FDIC and equal housing lender, offers a full range of personal, commercial, wealth management and international banking services. The bank operates more than 700 retail and commercial banking locations in 19 Western and Midwestern states. Bank of the West is a subsidiary of
BNP Paribas, one of the world’s largest and best rated banks* with more than 200,000 employees in more than 80 countries. *Rated AA- by Standard & Poor’s as of October 14, 2011. About Operation HOPE Since 1992, Operation HOPE has been America’s leading financial literacy and empowerment nonprofit. Through its four principle portfolios: Banking on Our Future, HOPE Coalition America, HOPE Financial Literacy Empowerment Centers, and HOPE Corps, the organization addresses youth and adult financial literacy, economic preparedness, bridges the digital divide and promotes home ownership and assists with foreclosure prevention. With the support of more than 400 private sector companies, 5000 nonprofit organizations and schools and government partners. HOPE has reached over 2 million lowwealth individuals in 71 U.S. cities and South Africa. At the core of HOPE’s mission is a Silver Rights Movement, ensuring that free enterprise and capitalism work to provide a better future for underserved communities around the world. To learn more about HOPE, visit our blog or follow us on Facebook and Twitter.
73 January 2012 Black Business News www.blackbbusinessnews.net
Community/Public Inerest
lobal leader in financial dignity, Operation HOPE (HOPE) announced today a three-year, $1.7 million contribution, including cash grants and office space, by Bank of the West. The bank’s support will directly benefit HOPE’s award-winning youth empowerment program — Banking on Our Future — in Portland, Oakland and Denver, as well as the GallupHOPE Index, a national survey measuring financial literacy and the economic energy of U.S. students. Other programs and services that stand to benefit from Bank of the West’s contributions include HOPE’s financial literacy events and forums, and HOPE’s Financial Literacy Empowerment Center (HOPE Center), located with the bank’s branch in Oakland. Since 2005, the HOPE Center has served nearly 45,000 individuals. “We are pleased to work with a financial institution like Bank of the West that understands commitment to community. Through our partnership we have worked side by side to turn underserved communities into healthy ones,” said HOPE Founder, Chairman and CEO John Hope Bryant. “It is through partnerships like this that HOPE is able to deliver the financial literacy tools that empower individuals and change lives.” “Our support for community organizations allows us to reach deep into the neighborhoods we serve so we can help provide individuals and families with information that can help them move toward economic selfsufficiency,” said Rebeca Rangel, community affairs manager at Bank of the West. Since 2000, Bank of the West’s support has helped HOPE provide a range of services to neighborhoods within the bank’s footprint. Past
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n October 2011, something special happened. People around the world joined together towards the same goal: to set a Guinness World Record® for the most people doing jumping jacks in a 24-hour period. The challenge was to have more than 20,000
Let’s Move!
Breaking the Record people from around the world do jumping jacks for one minute. Joined by National Geographic Kids Magazine (http://kidsblogs.nationalgeographic.com/letsjump), First Lady Michelle Obama had the chance to launch the effort to break the record from the South Lawn of the White House: “I get to do a lot of cool things, but this is really exciting. I never thought in my entire life that I would be here today to break a Guinness World Record. Woohoo! And I’m here doing it with all of you and that makes it even
more fun, because the whole country -the world is going to see just how much fun we can have not just breaking a world record but also doing some exercise, right? Because that’s one of my big things. “Let’s Move” is about kids eating healthy and moving and staying active, so you all are ready for life and for all the challenges that you’re going to face. And what we’re going to show people today is that moving is fun, right? You can do it just dancing around in your backyard. You can get moving if you’re walking your dog. Or you can get moving doing some jumping jacks, right? There are so many ways to keep moving.”
75 January 2012 Black Business News www.blackbbusinessnews.net
Community/Public Inerest
First Lady Michelle Obama leads a group of 400 local children on the South Lawn of the White House to help break the Guinness World Records title for the most people doing jumping jacks in a 24-hour period. (Official White House Photo by Chuck Kennedy)
The African World: the premiere public affairs television program about Africa in the United States
International
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e at The African World are pleased to announce our new and improved website! www. theafricanworld.tv. The site continues The African World’s tradition of providing context, perspective and analysis to help our audience understand the people and forces shaping events across Africa and the African Diaspora. Our video driven site provides original reporting, interviews, and documentaries highlighting the broad range of challenges confronting Africa and the bold and innovative approaches to solving them. In this maiden edition of our new site, for example, we present interviews with the President of Botswana and the Ambassador of Mauritius to the United States. Our A-File Series features Alex Cummings of the Coca-Cola Company and Isibor Joy Nosegbe, founder of a highly-rated nursing school in Northern Virginia, as Africans who have succeeded against the odds in the US. On our Development Matters page, we present a documentary on cutting edge research on developing a malaria vaccine. Our News And Analysis page looks at Fatou Bensouda’s appointment as Chief Prosecutor of the ICC and why former President Pires of the Cape Verde is most deserving of the $5 Million Mo Ibrahim Prize. Finally, our Diplomatic Circles page presents a video of the celebrations of Africa Day 2011 hosted by the African Diplomatic Corps at the Willard Hotel in Washington, DC. For more than six years now, The African World has produced and broadcast the premiere public affairs television program about Africa in the United States.
The program is aired on MHz Networks, an independent public television station that covers the entire Washington, DC Metro Area (please see below for information on channels on which you can watch the programs and check your local listing for date and time of broadcast). Our programs are available to our global audience on our website at www. theafricanworld.tv. Contact us at: editor@theafricanworld.tv.
Cable Provider Comcast Cox Verizon Fios RCN DirecTV Dish Network
Channel 271 470 451 30 56/2183 8077/8084
2012 Africa Business Briefing Series
January thru December 2012 Coming to major cities around the United States “A REGION 7 Initiative” Hosted by: Diversity Restoration Solutions, Inc.
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e are kicking off our 2012 Africa Business Briefing Series in Chesapeake, Virginia on January 24, 2012 at the “R” Realty Building, 638 Independence Parkway, Chesapeake, Virginia in the first floor Boardroom. The discussions will focus on opportunities in the Republic of Ghana. Our recent trade visit to Ghana resulted in immediate opportunities for business and/or investment. We had appoximetly forty Ghananian businesses attend our trade visit business forum in Accra. We also had government officials from the Tema Metropolitan Assembly brief us on their city projects and priority needs. The projects range from small import/export opportunities to major construction projects. We will cover
a variety of industry sectors from agriculture to renewable energy in the briefing. In addition, we will share information on the anticipated opportunities in the U.S. and Ghana on the Wall of Return and Restoration Center Project. We are inviting trade representatives from African countries to attend our briefing series as their schedules permit. We will keep registered attendees updated on representatives from African embassies confirming to attend a specific briefing. Registration deadline for the Chesapeake briefing is January 17, 2012. Please complete the registration form on the website and make payment online at www.diversityrestoration. com. We are not accepting on-site registration.
76 January 2012 Black Business News www.blackbbusinessnews.net
African Union Symposium on Expanding US – Africa Trade Reported by: The African World
including quota and duty free entry into the United States, for certain goods exported from Africa. Participants at the symposium also called on African governments to build an enabling environment for trade, with a focus on improving infrastructure across the Continent and investments in skills training to help African entrepreneurs take advantage of business opportunities created by AGOA. There was a general consensus at the Symposium that African economies would benefit immensely from the harmonization of business laws and tariffs and the establishment of broad Free Trade Zones that widen markets and knock down trade barriers on the Continent. The Symposium also signed off on the creation of a new organization, Center for U.S.-Africa
Economic Cooperation (CUAEC), that will bring together trade groups and chambers of commerce in Africa and the African Diaspora to promote and foster investments in Africa. Speaking at the Symposium, the African Union Permanent Representative to the US, Ambassador Amina Ali, said African economies have performed relatively well over the last decade, posting. on average, the highest rates of growth in the world. She noted, however, that increased trade between Africa and the rest of the world was critical to ensuring long term and sustained growth on the Continent. Please watch video at www. theafricanworld.tv/diplomaticcircles/the-african-union-diasporatrade-symposium for more on the Symposium.
77 January 2012 Black Business News www.blackbbusinessnews.net
www.theafricanworld.tv
International
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he African Union Diplomatic Mission in Washington, DC held a Diaspora Trade Symposium at the World Bank on December 21, 2011 that discussed economic trends and investment opportunities in Africa, and engagement of the African Diaspora for business development on the Continent. The Symposium, sponsored by the World Bank African Diaspora Program, brought together African government representatives, US policy decision makers, officials of the World Bank and the Economic Commission for Africa, as well as African and US business leaders. Participants stressed the critical need for US lawmakers to enhance and extend the soon to expired African Growth and Opportunity Act (AGOA), a trade legislation that provides preferences,
RESOURCES FOR GOING GLOBAL Dear International Executive, Below are upcoming U.S. Commercial Service initiatives designed to connect you to business opportunities around the world.
International
1. Event: Addressing Business and Personal Security Issues Threatening U.S. Companies Working in Mexico 2. Event: Hot Market Watch: Selling to Brazil, China, South Korea and Vietnam/ASEAN 3. Promote Your Products Worldwide for $295 with a STEP Match 4. Display Your Products in the USA Export Expo Online Trade Show 5. Commercial News USA Offers Buy 2, Get 1 Free Promotion 6. Read the New Online Edition of Commercial News USA 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: Addressing Business and Personal Security Issues Threatening U.S. Companies Working in Mexico Venue: Spellman Center, Lindenwood University, St. Louis, Missouri Date: March 1, 2012 Learn more/register: http://export.gov/ missouri/build/groups/public/@eg_us_ mo/documents/webcontent/eg_us_ mo_041484.pdf For U.S. companies doing business in Mexico, physical and personal security should be a major priority. General street crime and criminal groups specifically targeting foreign companies have drastically increased over recent years and these threats should be addressed in every company’s business plan. Companies who are currently op-
erating in Mexico should assess their operations including facilities, logistics and the security of their employees. Those companies considering startup operations in Mexico should have a security risk assessment as part of their consideration when identifying a venue. Companies can significantly decrease security threats against their operations and employees by taking the time to identify risks and proactively addressing them. This program will feature leading security experts who will discuss current and future security threats of which businesses and travelers should be aware of. Attendees will learn more about how the U.S. Embassy, FBI, State Department, U.S. Department of Commerce and State of Missouri can assist you with both proactive and reactive approaches to your company and employee needs. In addition, a major global U.S. company will provide a case study on addressing risks in Mexico. Allied Intelligence, along with other private sector service companies, will offering advice based on years of experience supporting companies. ********************************** Event: Hot Market Watch: Selling to Brazil, China, South Korea and Vietnam/ASEAN Venue: Cincinnati, OH Date: March 21-22, 2012 Learn & register: http://export.gov/ohio/ southernohio/tradeevents/index.asp This conference is an annual event organized by the U.S. Commercial Service in Cincinnati. This year’s conference will focus on the “hot markets” of Brazil, China, South Korea and ASEAN region and will provide market updates, tools, and resources for U.S. companies interested in selling to or expanding further into these countries and regions. There will also be an evening networking reception the night before (March 21). Presenters will include U.S. Department of Commerce
Commercial Officers from the U.S Commercial Service, who will also be available for one-on-one meetings to discuss your company’s market potential in Brazil, China, South Korea and/ or ASEAN region. In addition to plenary sessions, there will be several breakout sessions to choose from. Selected topics for each country/region include: market overviews; corporate perspectives; economic outlooks; customs, tariffs and logistics; financial considerations; legal considerations; taxation/ accounting; and more. For more information, please contact Marcia.Brandstadt@trade.gov or call: 513-684-2944. ********************************** Promote Your Products Worldwide for $295 with a STEP Match Commercial News USA, the official export promotion magazine of the U.S. Department of Commerce, will provide a $300 additional discount to exporters who receive a $500 STEP grant award from their state. These discounts can be used for a 1/9 color listing ad, or larger, in Commercial News USA. The State Trade and Export Promotion Grant (STEP) Pilot grant initiative offers grants to help small businesses. The aim of the STEP Initiative is to increase the number of small businesses that are exporting and increase the value of exports for those small businesses that are currently exporting. Commercial News USA reaches more than a quarter-million buyers worldwide in print and 23,000 per month online. Reserve your space in the next issue today. For information, contact a U.S. Export Assistance Center near you, call 1-800-581-8533, x822, go online to http://www.thinkglobal.us, or send email to advertise@thinkglobal.us. ********************************** Display Your Products in the USA Export Expo Online Trade Show Commercial News USA, the official export promotion magazine of the U.S. Department of Commerce, offers ex-
78 January 2012 Black Business News www.blackbbusinessnews.net
Going Global from page 78
porters an inexpensive way to promote their products and services in 178 countries worldwide. Now, advertisers in the March-April 2012 issue will receive free booth set-up ($495 value) in the USA Export Expo Online Marketplace (http://www.usaexportexpo. com), sponsored by Commercial News USA. Reserve your space in the next issue today. For more information, call 1-800-581-8533 x 822, visit http://www. thinkglobal.us or email advertise@ thinkglobal.us. ********************************** Commercial News USA Offers Buy 2, Get 1 Free Promotion
********************************** Read the New Online Edition of Commercial News USA Commercial News USA, the official export promotion magazine of the U.S. Department of Commerce, has launched a new interactive PDF edition. The new edition is available for free at http:// cnusa.thinkglobal.us Commercial News USA offers exporters an affordable way to promote their products and services in 178 countries worldwide. Commercial
African Repatriation is an invaluable online resource for any African national who is thinking about returning to Africa. Our industry articles and specialist editorials provide the latest sector information. Why not find out for yourself and become a part of our growing community today?
www.africanrepatriation.com
Career Opportunities in Africa Search and apply online for the latest vacancies in Africa with African Talent. We provide candidates and employers with the tools and resources needed in today’s competitive job market. For employers, we offer numerous options to feature your jobs in Africa and for candidates, reviewing the most recent job vacancies in Africa is a fast, easy process. Uploading your CV is simple and takes just a few moments.
www.africantalent.com News USA reaches more than a quartermillion buyers worldwide. Reserve your space in the next issue today. For more information, call 1-800-581-8533 x 822, visit http://www.thinkglobal.us, or e-mail advertise@thinkglobal.us
********************************** The U.S. Commercial Service - Your Global Business Partner. With offices across the United States and in more than 75 countries, the U.S. Commer-
cial 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://export.gov/ california/ca/socal/index.asp.
79 January 2012 Black Business News www.blackbusinessnews.net
International
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. 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. In addition to free Portuguese translation, 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). Commercial News USA reaches more than a quarter million buyers worldwide. Reserve your space in the next issue today. For more information, contact your U.S. Commercial Service trade specialist, or call 1-800581-8533 x 822, or visit http://www. thinkglobal.us/499, or send e-mail to advertise@thinkglobal.us
Returning to Africa?
F
or fiscal year 2011, Ex-Im Bank approved over $32 billion in financing, an all-time record for the Bank and up 110% from 2008. These financings supported approximately 300,000 U.S. jobs and included more than 3,000 small business transactions - up nearly 20%. Fiscal year 2011 marks the third consecutive record-breaking year, with significant growth seen in industries such as aircraft, renewable energy, and infrastructure as well as key markets including Colombia, India, Turkey, and Sub-Saharan Africa. Ex-Im Bank is steadfast in achieving the goals of the President’s National Export Initiative (NEI) in doubling exports by 2015. In addition, significant progress was made in accomplishing Ex-Im Bank’s goals to add 5,000 new small businesses to the Ex-Im Bank portfolio, double the small business volume to $9 billion, and approve $30 billion in total small business transactions.
• Double its annual small business volume to $9 billion ($6 billion as of 9/30/11 - GOAL $9 billion) • Approve $30 billion in total small business transactions ($15.3 billion as of 9/30/11 - GOAL $30 billion) Preliminary FY’11 Highlights Include: • 3,750 transactions • 1,019 companies new businesses to Ex-Im portfolio • $6.0 billion in small business export financing, an all-time record • $719 million in minority- and woman- owned export financing • $720 million in renewable financing, up from $30 million in 2008 • Over $1.3 billion in Sub Saharan Africa - first time we have passed the billion dollar mark in Africa
• $2.9 billion increase to India, a direct result of the President’s efforts to build a strategic alliance Ex-Im Bank Issues Over 100 Express Insurance Policies Since its launch at Ex-Im Bank’s 2011 Annual Conference, express insurance has proved to be a much-needed shortterm export insurance product, which is available only to small businesses. One hundred and twelve exporters purchased an express insurance policy in fiscal year 2011 leading to over $50 million in authorizations. Thirty-two of our insurance broker partners distributed more than 90% of the express insurance policies, with Trade Acceptance Group of Minnesota and Global Business Solutions of North Carolina tied for the most express policies sold.
Ex-Im Bank Profile Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital loan guarantees, export-credit insurance, and financing
Looking Ahead FY2012 2012 Goals include: • Support Goals of National Export Initiative - continue the financing of U.S. products and services to double U.S. exports by 2015. • Increase Small Business Authorizations & Transactions create new products and engage new partners to focus on reaching out to more small businesses. • Government at the Speed of Business - target 80% of all Ex-Im Bank’s transactions to be completed within 30 days. • Increase Infrastructure & Renewable Financing - meet global need for infrastructure demand and capitalize on new opportunities.
to help foreign buyers purchase U.S. goods and services. Ex-Im Bank is self-sustaining and is able to cover all operating costs and potential losses while also producing revenue. The Bank has generated $1.9 billion for U.S. taxpayers over the past five years. Follow Ex-Im Bank on Twitter at http://twitter.com/eximbankus. Join the Ex-Im Bank network at http://www. linkedin.com/company/export-importbank-of-the-united-states. The complete quarterly report, including video presentations, may be viewed at www.exim.gov/newsletter/volume6/ newsletter_October18.cfm#four
81 January 2012 Black Business News www.blackbusinessnews.net
International
• Add a total of 5,000 new small businesses to the Ex-Im Bank portfolio (1,500 as of 9/30/11 - GOAL 5000)
www.exim.gov
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
82 January 2012 Black Business News www.blackbbusinessnews.net
Continental Africa Chamber of Commerce USA in Collaboration with U.S. Department of Commerce Illinois Department of Commerce and Economic Opportunity (Office of Trade and Investment) Cook County Planning and Development Department City of Chicago and Illinois Black Chamber of Commerce
Cordially invite you to the 7th US-Africa Trade & Investment Forum, Conference and Exposition
The President’s “E” and “E Star” Awards
T
he President’s “E” Award was created by Executive Order of the President on December 5, 1961, to afford suitable recognition to persons, firms, or organizations which contribute significantly in the effort to increase United States exports.
Africa - The Next World Market May 16-18, 2012, Chicago, IL This historic event will take place during the G-8 Summit to be hosted in Chicago May 2012, where four African Presidents will be in attendance. Africa offers great potential for American businesses and investors. The Forum will provide a dynamic platform that:
This Forum provides an important opportunity for US companies to understand and engage business interests across the vast and diverse markets of a new Africa.
Join us! For more information, please contact us at: www.continentalacc.org Email: info@continentalacc.org 1-312-987-1892 tel 1-312-987-1893 fax 28 E. Jackson Boulevard Suite #600, Chicago, IL 60604
The President’s “E Star” Award, which was authorized by the Secretary of Commerce on August 4, 1969, affords continuing recognition of noteworthy export promotion efforts. Winners of the “E” and “E Star” Award are authorized to fly the blue and white banner, to display the accompanying certificate of commendation which is signed by the Secretary of Commerce in the name and by the authority of the President, to wear and issue to employees an “E” lapel pin, and to refer to the award in their advertising.
HOW TO APPLY Applications for the 2012 President’s E-Awards will be accepted between November 7, 2011 and January 23, 2012. The President’s E Award for Exports is awarded to a firm or
http://export.gov/exportawards
www.SUYA.com PrePackaged African Foods
Coming to Your Supermarket
83 January 2012 Black Business News www.blackbbusinessnews.net
International
•Presents to American corporate and public-policy makers the wide array of investment opportunities in Africa; •Discusses the ways in which these opportunities can be realized; •Meets participants’ strategic interests by creating networking opportunities and an avenue for the development of bilateral investment possibilities; •Provides one-on-one negotiation opportunities; •Encourages American companies to exhibit their products and services; and •Invites African businesses to exhibit their products under AGOA
organization that has made significant contributions to the increase of American exports. The President’s E Award for Export Service is awarded to organizations that may or may not export directly, but which assist or facilitate export activities. The primary criterion for the “E” Award is four years of successive export growth, usually accompanied by a rising percentage of export sales within total sales. The application should demonstrate export expansion that is measurable, innovative, sustainable, and has broad impact. Previous recipients of the “E” Award may apply for the President’s “E Star” Award for continued superior performance in increasing or promoting exports. “E Star” Award applicants should show three years of successive export growth since winning the “E” Award. Applications must be reviewed by the local U.S. Export Assistance Center and approved for submission by the U.S. and Foreign Commercial Service Network Director. Applications should be submitted electronically. To assist applicants, we have links to sample applications: • 2012 Application - http://export.gov/ static/Fillable%20E%20Award%20 Application%20expires%20 09302014_1_118531_eg_ main_021208.pdf • Sample “E” & “E Star” Award for Exports Application - http://export.gov/static/ sample%20e%20award%20 for%20exports_1_118412_eg_ main_041444.pdf • Sample “E” Award for Export Service Application - http:// export.gov/static/sample%20 E%20Award%20for%20 export%20service_1_118411_eg_ main_041443.pdf
Thursday Blues at
Uncle Darrow‛s High Noon-2pm Every Thursday
Come by for lunch and relax to blues and jazz from our house band! 2560 S. Lincoln Blvd. Marina del Rey North East corner of Washington & Lincoln
International
“LA Times Magazine favorite cajun food”
310-306-4862
www.uncledarrows.com
FAME ASSISTANCE CORPORATION FREE CREDIT MANAGEMENT WORKSHOPS HELD EACH MONTH AT
Order Via the Internet Wines of the Black-Owned wineries of South Africa. Register at TheArtfulGrape.com. The Artful Grape will do the rest. The wines will be delivered to your door.
1968 W. ADAMS BLVD., LOS ANGELES CALL FOR INFORMATION OR RSVP 323-730-7720
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84 January 2012 Black Business News www.blackbbusinessnews.net
Rainbow PUSH LA Trade Bureau The Rainbow PUSH LA Trade Bureau (RPC/Bureau) is focused on the implementation of economic, social, and education initiatives, as well as growing the office to become a strong voice for our constituents and Trade Bureau Members. Rainbow Push LA is connecting our Trade Bureau members with our Trading Partners for the purpose of doing business. Rainbow Push LA is committed to connecting our members to new opportunities that will not only bring us through the recession, but beyond it. Our innovative ideas are expressed through powerful programmatic pieces that are designed with everyone in mind. Please use the information below to contact the Los Angeles office to request a contact information form that may be completed then faxed or e-mailed to us. The information will reconnect us with you and will aid Mr. Israel in his upcoming meetings with corporate trading partners. Regina Black, Office Manager Rainbow PUSH/CEF Los Angeles, 1313 W. 8th Street, Suite 232, Los Angeles, CA 90017 Office Number: 213.483.3500 Fax Number: 213.483.3577 Email: rblack@rainbowpush.org Website: www.rainbowpushla.org
85 January 2012 Black Business News www.blackbbusinessnews.net
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
Jamaal Wilkes Financial Advisors, LLC:
New Report Confirms Gold as an Excellent Portfolio Diversifier New research confirms gold’s unique role as a diversifier and foundation asset in the portfolios of euro-based investors, especially at a time of heightened currency and investment risk.
D
uring a period of extraordinarily serious economic uncertainty in the Eurozone, continued concerns about economic growth in the US heading into an election year, and the possibility of an economic slowdown in China, The World Gold Council (WGC) wanted to examine the relevance of gold as a strategic asset for euro-based investors to protect their portfolios and to mitigate the systemic risks being faced. Thus, a new study from New Frontier Advisors (NFA) entitled, ‘Gold as a strategic asset for European investors’, was commissioned by the WGC to address these concerns. The NFA’s respected optimiser is used to analyse the statistical significance of gold for adding diversification value to an investment portfolio from the currency base and perspective of a Euro based investor. It takes a conservative strategic return expectation that the long-term real return of gold is equal to zero. The findings suggests that an optimal strategic allocation to gold for euro-based investors ranges from 2-3% for the most diversified and lowest risk portfolios, to between 4-9% for portfolios split 50/50 between equities and bonds and as high as 10%, for
portfolios with the majority of assets in equities. The NFA study makes a valuable contribution towards the World Gold Council’s own body of investment research, adding further third-party evidence to the case for gold as a foundation asset which provides insurance against extreme events. The WGC believes that the relevance of gold as a strategic asset is likely to continue to grow in a world characterised by sluggish economic performance, poor investment returns, currency wars and high individual and systemic risk. Gold has unique properties which can protect European investors’ portfolios against the systemic risks being faced. Author: World Gold Council
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 87 January 2012 Black Business News www.blackbbusinessnews.net
Give the Gifts of Knowledge, Inspiration, Entertainment. This Holiday Season Shop the
Black Book Stores!
Eso Won Books African American Books 4331 Degnan Ave., Leimert Park, Los Angeles Check out our unsurpassed collection of books, music, video, children’s books, and games!
Holiday Gift Giving Time Christmas, Graduation, Kwanzaa
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
www.Malikbooks.com www.autogrpahbooks.com malikbooks@att.net 818-564-5694
A Positive Economic Turn Around in the USA is in Our Hands
•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 88 January 2012 Black Business News www.blackbbusinessnews.net
Books to Consider...
Reader: History and Culture in the United States
RED, WHITE, BLACK AND BLUE:
Edited by Miriam Jiménez Román, Juan Flores
Black Anger and White Ignorance in Obama’s America by A. Christian van Gorder & Lewis T. Tait Jr.
R
ed, White, Black and Blue: Black Anger and White Ignorance in Obama’s America examines contemporary expressions
of subtle racism and looks at how our present political climate affects issues of lingering racist inequality. Drs. van Gorder and Tait provide a historical and theoretical context for their analysis of America’s present intercultural tensions and offers concrete steps forward in addressing our seemingly entrenched polarities: Black Anger and White ignorance. This book is up-to-date and prescient in addressing modern issues of systemic racism with clarity and resolve. www.africaworldpressbooks.com
The Afro-Latin@
a John Hope Franklin Center Book
The Afro-Latin@ Reader focuses attention on a large, vibrant, yet oddly invisible community in the United States: people of African descent from Latin America and the Caribbean. The presence of Afro-Latin@s in the United States (and throughout the Americas) belies the notion that Blacks and Latin@s are two distinct categories or cultures. Afro-Latin@s are uniquely situated to bridge the widening social divide between Latin@s and African Americans; at the same time, their experiences reveal pervasive racism among Latin@s and ethnocentrism among African Americans. Offering insight into Afro-Latin@ life and new ways to understand culture, ethnicity, nation, identity, and antiracist politics, The Afro-Latin@ Reader presents a kaleidoscopic view of Black Latin@s in the United States. It addresses history, music, gender, class, and media representations in more than sixty selections, including scholarly essays, memoirs, newspaper and magazine articles, poetry, short stories, and interviews. While the selections cover centuries of Afro-Latin@ history, since the arrival of Spanish-speaking Africans in North America in the mid-sixteenth-century, most of them focus on the past fifty years. The central question of how AfroLatin@s relate to and experience U.S. and Latin American racial ideologies is engaged throughout, in first-person accounts of growing up Afro-Latin@, a classic essay by a leader of the Young Lords, and analyses of U.S. census data on race and ethnicity, as well as in pieces on gender and sexuality, majorleague baseball, and religion. The contributions that Afro-Latin@s have made to U.S. culture are highlighted in essays on the illustrious AfroPuerto Rican bibliophile Arturo Alfonso Schomburg and music and dance
g e n r e s from salsa to mambo, and from boogaloo to hip hop. T a k e n t o g e t h e r, these and many more selections help to bring AfroLatin@s in the United States into critical view. www.amazon.com
Million Dollar Conversations Women Entrepreneurs Share Strategies for Mastering Business Life & Relationships
N
o one in the world is ever successful without great people to support, assist and believe in them. As women in business who are multi-taskers, driven to succeed by any means necessary, we are asked by many girls and women, “How do you do it?” These women are not just asking us to tell them technically how to run a business; they ey are asking us to o be their mentorss and guide them m along the way.. The women n entrepreneurs who we spoke with for this book are much like us: They get asked the same questions about how they became successful entrepreneurs, and they want to respond by giving back a gift from the heart. Million Dollar Conversations is that gift. //milliondollarconversationsbook.com
89 January 2012 Black Business News www.blackbusinessnews.net
HOW TO DO BUSINESS WITH METRO MONTHLY WORKSHOP January 10, 2012 - TIME: 9:30AM TO 12:00PM METRO BOARD APPROVED 30% ANNUAL SMALL BUSINESS ENTERPRISE (SBE) GOAL! Victor Parker: District Director, U.S. Small Business Administration Doug Failing: Executive Officer, Highway Programs, Metro Rose Cote: Business Outreach Coordinator,Los AngelesWorld Airport Thomas Knox, Jr: SBE Administrator, Department of Transportation, District 7 Debbie Cabreira-Johnson: Program Director, Los Angeles County Office of Small Business Procurement Metro Headquarters Building 3rd Floor Board Room One Gateway Plaza Los Angeles, California 90012 Parking is $6.00 Metro hosts a two-hour orientation/business workshop on the second Tuesday of every month to advise firms how to do business with Metro. The session includes information on certification programs, vendor registration, contract lookaheads and other information. Metro’s procurement staff conducts one-on-one interviews with firms during the workshops. Please note that the workshop starts promptly at 9:30 AM. For further questions, please contact Sherman Gay at 213.922-3502. Attendance is by RSVP only. Please RSVP at Sonya Turner (turners@metro. net) with your name, company name, contact information, your product and or service.
Tuesday, January 10th “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.
BLACK MEETINGS & TOURISM DIGITAL MAGAZINE
T
he digital version of Black Meetings & Tourism magazine is 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. The 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 AfricanAmerican travel market.
International Edition
Black Business News View the International Edition at www.bbala.org and www.blackbusinessnews.net
90 January 2012 Black Business News www.blackbbusinessnews.net
U.S. Sm
Reach Thousands of Southern California’s Most Influential African Americans
all Bus
in
ess Adm 2007 A inistra tion WARD W “Journ alist of INNER! the Yea r”
YOUR LINK TO BLACK BUSINESS ENTERPRISE IN SOUTHERN CALIFORNIA The Black Business Association, SBA 2007 Journalist of the Year, is pleased to invite you to be an integral part of our publication. Black Business News - Your Link to Black Business Enterprise in Southern California. The Black Business News is the ofÀcial voice through which public and private entities advertise contract opportunities available to black business enterprise. 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 BBA members, 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!
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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 th ck B e u si Profi ness le Succ Dicker ess 9 Fo son Employee reclo sure Benefits $8.68 R 31 Sm Billion Settlem elief ent. all Adm Business inistr Online Train ation ing for
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Reserve Your Ad Space Today! Call (323) 291-9334 Deadline: Every third Friday of the Month! 50% Discount for Regular Financial BBA Members Presid
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For more information contact: Earl “Skip” Cooper, II at 323-291-9334 E-mail: mail@bbala.org
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Calendar February 2012… 9th-20th Pan African Film Festival (PAFF) 20th anniversary of this international film festival held in Los Angeles, California. Applications to submit films for the festival are available via the PAFF website at www.paff.org, by emailing inquiry to ao@paff.org or calling 310337-4737.
The Los Angeles Press Club to Host Panel Discussion to Celebrate Dr. Martin Luther King Jr. Birthday
H
aving recently elected Dr. Gloria Zuurveen, Founder/ Owner and Publisher of PACE NEWS, as the first African American woman to its Board of Directors, the Los Angeles Press Club, located at 4773 Hollywood Boulevard, LA, CA, 90027 on Thursday, January 12, 2012 at 7:00pm, will host an informational and educational panel discussion to ponder the question:
23rd Black Business Association’s 38th Annual Awards Dinner Designed to recognize African American, corporate and government leaders the annual event will be held in Los Angeles, California in recognition of Black History Month. For event details visit the BBA website at www.bbala. org, by emailing an inquiry to mail@ bbala.org or calling 323-291-9334.
March 2012… 28th-31st African American Leadership Weekend: Revitalizing the Urban Agenda California Black Chamber of Commerce Foundation, California Black Health Network, California Black Legislative Caucus will conduct this educational event at the DoubleTree Hotel, Sacramento CA. For event details visit the chamber’s website at www.cbcc. org.
31st Salute to Black Women Business Conference & Awards Luncheon Designed to recognize successful African American women in business and civic life and provide training in subjects and issues that are relevant to women. For event details visit the BBA website at www.bbala.org, by emailing an inquiry to mail@bbala.org or calling 323-291-9334.
“What if the Rev. Dr. Martin Luther King, Jr. Had Tweeted the Social Movement?” The illustrious and distinguished list of panelists includes: Former U.S. Congresswoman, Diane Watson; Robert Farrell, Former Los Angeles City Councilman and a Freedom Rider; Rev. William Smart, Chairman of the Board, SCLC-LA and a Union Organizer; Charlene Muhammad, Journalist and Blogger; and Jasmine Cannick, Journalist and Blogger. The discussion will be moderated by Author/Columnist/Scholar, Dr. Anthony Asadullah Samad. All the happenings with the social media in our world today, such as Occupy Wall Street and Main Street, to effect social change, it leaves one to wonder what would the late great oratorical genius Rev. Dr. Martin Luther King Jr., who changed the world with his prophetic voice of non-violence, think about what is going on today with the new phenomenal of social media. It is for this reason that the Los Angeles Press Club thought it befitting to hold this critical discussion, especially during the week of Dr. King’s birthday, when so many people all over the world will be focused on the life and legacy he left us to reflect on. Admission and parking is free and refreshments will be served. To RVSP contact Diana at the Los Angeles Press Club at (323) 669-8081.
April 2012… 28th-31st Administrative Professionals Day
Awards Luncheon For event details visit the Black Busi-
ness Association’s website at www. bbala.org.
93 January 2012 Black Business News www.blackbbusinessnews.net
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