Black Money and Black Wealth, made simple

Black wealth, African American money: the future for Black America

Secretary’s Error Costs Pepsico over $1 Billion Dollars

What’s the cost of not showing up to court? For PepsiCo Inc., it’s a $1.26 billion default judgment. A Wisconsin state court socked the company with the monster award in a case alleging that PepsiCo stole the idea to bottle and sell purified water from two Wisconsin men.

Now the company is scrambling to salvage the situation. The damages award was handed down on Sept. 30. PepsiCo filed motions to vacate the order and dismiss the claims on Oct. 13, saying it wasn’t even aware of the lawsuit until Oct. 6.

The litigation began in April when Charles Joyce and James Voigt sued the soft drink maker and two of its distributors, alleging they had misappropriated trade secrets from confidential discussions the plaintiffs had with the distributors in 1981 about selling purified water. The information was illicitly passed to PepsiCo, which used it to develop and sell Aquafina bottled water, the plaintiffs allege in the case filed in the Circuit Court of Jefferson County before Judge Jacqueline Erwin.

 

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October 28, 2009 Posted by | african american money, african american wealth, black enterprise, black money | Leave a comment

Managing Money and Relationships: Towanna Freeman

by Dr. Boyce Watkins, AOL Black Voices 

An entrepreneur doesn’t think like everyone else. She is willing to take chances, disciplined enough to focus on a dream and passionate enough to pursue that dream. Towanna Freeman is in that category. AOL Black Voices had the chance to catch up with Towanna, to get some advice on striking out on your own, as well as managing a marriage, children and career, all at the same time.
1) What is your name and what do you do?
Have you noticed how so many people seem to be living an unbalanced life or living beneath their full potential? Well, I assist people, particularly women, who are ready to take life changing action to get that sense of balance back along with that greater feeling of fulfillment and happiness. I am also the principal consultant of Towanna Freeman & Associates, a management consulting firm with the primary emphasis on leadership coaching and employee performance improvement; the founder of the Young Women’s Empowerment Network a nonprofit organization that produces empowerment workshops, conferences, and other special events for teen girls; and the author of "Purposeful Action, 7 Steps to Fulfillment."

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October 23, 2009 Posted by | african american money, african american wealth, black wealth, home ownership | , , | Leave a comment

People Fight Over Stimulus Money

Detroit residents, right, pick up forms to apply for federal ...

Scuffles erupted as several thousand Detroit residents jockeyed, pushed and shoved Wednesday to get free money being offered to only 3,500 of the city’s recently or soon to be homeless.

Several received medical treatment for fainting or exhaustion while frantically trying to obtain the applications for federal housing assistance. The long lines and short tempers highlighted the frustration and desperation that Detroit residents feel struggling through an economic nightmare.

The line around Cobo Center, a downtown convention center, started forming well before daybreak. Anger flared within a few hours as more people sought out a dwindling number of applications for the program.

Members of the Detroit Police Department’s Gang Squad and other tactical units were called in for crowd control. Several people reportedly passed out from exhaustion and had to be treated by emergency medical personnel. Some minor injuries were reported, and no arrests were made.

 

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October 14, 2009 Posted by | african american money, african american wealth, black money | , , | Leave a comment

News: Entrepreneurs Create their own Economic Recovery

Back in August, Federal Reserve officials suggested that the Great Recession was ending and the U.S. could expect "a gradual resumption of sustainable economic growth." But even with stock market indexes and the bottom lines of large financial firms bouncing back, small businesses can expect a longer slog to economic health.

"Small business performance is a lagging indicator of recovery in the same way that unemployment is," says Villanova University business school professor John Pearce II.

And it’s likely that small businesses will find this recovery even slower than previous ones. The downturn has especially hurt construction firms, retailers and food service providers, the vast majority of which employ fewer than 20 workers. To make matters worse, more than 110 banks have failed since early 2008, most of them community thrifts catering to the financial needs of local firms.

 

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October 11, 2009 Posted by | african american money, african american wealth, black enterprise, black money, black wealth | , | Leave a comment

Fenorris Pearson: What Matters Beyond the Resume when it comes to Corporate Success?

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by Fenorris Pearson, CEO – Global Consumer Innovation, Inc. 

Education is critical for success, but when everyone has the same education from the same Ivy League schools with the same GPA… how do you stand out? Other factors beyond education – business etiquette, dress, playing well with others, teamwork and dedication are easy to measure and log. But what of those immeasurable traits that count for just as much in the corner office: passion, drive, commitment and stamina?

How can we measure the immeasurable?

When it comes to playing at the top, it’s often the intense, burning desire of the candidate that makes the difference between success and failure. At the end of the day, performance and results are two of the most important traits a top performer can possess. Work harder than your competition, and you’ll win the battle every time.

Another thing that people can’t measure with grades, paychecks, promotions or time cards is what’s inside your heart.

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October 8, 2009 Posted by | african american money, african american wealth, black enterprise, black money, black wealth | , | Leave a comment

Senate Could Vote to Extend Jobless Benefits

With U.S. unemployment rising, lawmakers hope to resolve a logjam this week on a measure that would extend jobless benefits for those who already may have exhausted them, Senate aides said on Tuesday.

Congressional leaders had hoped to extend benefits before the end of September, when some 400,000 recipients were expected to use them up. But while the House of Representatives last month passed a bill, jobless benefits legislation stalled in the Senate due to a dispute over how many workers should be eligible.

While some details remained unresolved, the measure could come up for a vote in the Senate within days, said an aide to Democratic Senator Jeanne Shaheen, who argued that the legislation was too narrowly targeted.

Shaheen objected to legislation passed by the House that would extend benefits for jobless workers only in states where the unemployment rate is above 8.5 percent. The unemployment rate was 6.8 percent in August in Shaheen’s home state of New Hampshire.

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October 7, 2009 Posted by | african american money, african american wealth, black enterprise, black money | , | Leave a comment

Professor Says We should Stop Buying Black Haircare Products

Atlanta, GA October 5, 2009 – Professor Devin Robinson, an economics professor at Oglethorpe University in Atlanta, GA and best-selling author of Taking it Back: How to Become a Successful Black Beauty Supply Store Owner, will lead a one week long boycott against Non- Black Owned Beauty Supply stores.

Robinson stated, "Blacks make up 96% of the consumers of these stores, yet represent less than 5% of the retail ownership." As a previous owner of 3 locations, Robinson understands the industry inside out and offers comprehensive solutions for Blacks to recapture this industry. "The problem is with the distributors. Distributors are mainly Non-Blacks and they handpick who they will distribute products to. This oftentimes leaves aspiring black owners disenfranchised", said Robinson.

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October 6, 2009 Posted by | african american money, african american wealth, black enterprise, black money | , , | Leave a comment

Get Sponsored!—Identifying the One Person Who Can Change Your Career Overnight

by Fenorris Pearson 

Even when I was a Vice President at Dell Computers, one of the most cutting edge companies on the planet, our problems remained the same. The variables changed, but the bottom line always came down to figuring out how to sell to one customer at a time. Reaching this critical objective becomes more complex as technology changes and the world becomes more advanced. As complacent as we’ve gotten with new technology and global opportunities, this much has become clear: what got you here won’t get you there. In fact, what positioned you here, might not even keep you here…

…At least, not without a sponsor.

These days competition isn’t just stiff, it’s rigid. You need every advantage you’ve got, particularly if you’re a recent grad, female or minority. Think hard work, an MBA and a well-rounded resume will get you to the top? Think again; that might be what got you here, but to get there – the proverbial corner office or CEO’s chair – you’ll need more than just a spotless resume and a 4.0 GPA; you’ll need a sponsor.

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October 5, 2009 Posted by | african american money, african american wealth, black enterprise, black money | , | Leave a comment

Black News: Tiger Woods earns a Billion

Tiger Woods has become the first sportsman to break through the billion-dollar earnings barrier, Forbes magazine reported on Thursday.

The 33-year-old American, who has won 14 majors, reached the latest landmark of his career when he won a 10-million-dollar bonus for his FedEx Cup victory last weekend.

According to the magazine’s calculations, Woods went into the 2009 season on 895 million dollars which included prize money, endorsements, appearance fees as well as money earned through his golf course design business.

Even before picking up his end of season bonus, Woods had earned 10.5 million dollars on the USPGA Tour this year, winning six titles.

 

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October 2, 2009 Posted by | african american money, african american wealth, black enterprise, black money | | Leave a comment