Couples and Money

Minority Business Programs in Jeopardy

2011-09-19T11:28:00.001-04:00

Hill Harper Breaks Down Money, Health and “True Wealth” In His New Book

2011-08-22T15:23:00.001-04:00

Fannie Mae, Freddie Mac Accused of Ruining Home Values in Detroit and Other Cities

2011-08-16T18:14:00.001-04:00

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Black Unemployment Drops Slightly, Remains Steady for Black Men

2011-08-05T10:46:00.001-04:00

by Dr. Boyce Watkins, Your Black World – Scholarship in Action

The recent release of data from the Bureau of Labor Statistics indicates that Black unemployment declined during the month of July. It had reached 16.2 percent and dropped over the course of the month to 15.9 percent. While the number is an improvement, it is still nearly double that of white Americans.

Stock Market Sees Worst Drop in Three Years

2011-08-04T23:24:00.001-04:00

Your Black World reports.

The stock market plunged to its worst day since the 2008 financial crisis. The Dow Jones Industrial Average moved down 512 points, the ninth biggest drop in history, as investors fears that there would be a global economic downturn.

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Getting the Wedding You Want with No Drama

2011-07-31T10:15:00.001-04:00

by George James

The summer is a time for warm weather, vacation, family reunions and weddings. Many couples plan their wedding during the summer and fall months. Planning a wedding can bring a lot of stress and drama to the couple. From deciding when and where to get married, to working on the guest list and to figuring out how you will pay for the wedding. Stress and drama can also come from what other people want for your wedding and from handling major conflicts such as faith, money or where to live after the wedding. It is possible to get the wedding you want and not have any drama, even with all the possibilities leading up to the wedding.

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Corporate America Now Has an Official Term for Excluding Black Businesses

2011-06-23T13:31:00.001-04:00

The code language was revealed at the Rainbow Push Convention.

click to read

38% of African Americans Have Lost Their Job in the Last Three Years

2011-06-15T07:58:00.001-04:00

click to read

Black Unemployment More than Double Whites for Michigan Residents

2011-05-02T02:28:00.001-04:00

Your Black World reports

A recent report by the Economic Policy Institute has revealed that the economic situation for African Americans is disproportionately bad for the state of Michigan. According to the report, African Americans in Michigan have had an unemployment rate above 20 percent for every quarter since the start of 2009. Their 2010 annual unemployment rate was 23.4%. White Michigan residents currently enjoy an unemployment rate of only 9.5% for last quarter.

The conditions are so bad that the lowest black unemployment rate since 2008 (12.2%) is only slightly lower than the highest unemployment conditions experienced by whites in Michigan (12.7%). So, their terrible times are our good times and our horrible times don’t get attention from political leaders whatsoever.

Perhaps we don’t live in a post-racial America after all, since the unemployment picture is clearly different for blacks and whites.

Please join the Your Black World Coalition by visiting YourBlackWorld.com

Regal Black Women from Around the World

2011-04-30T16:33:00.001-04:00

Click here to read about these women and others on Black Enterprise

Do Black Women Have a Preference for Thugs? (Video)

2011-04-29T11:33:00.001-04:00

In this episode of Your Black Love, Deborrah Cooper and I ask whether or not black women have a preference for dating men that are not good for them.

Do you know a woman who dates one bad guy after another and then seems to spend all of her time whining about the fact that she can never find a good man? Yea, I have too. Well, it seems to me that, at some point, we must all have some degree of accountability for our relationship choices.

Deborrah and I debate the issue in the video below – enjoy!

If you’d like to get Dr. Boyce commentary delivered to your email, please click here.

[blip.tv http://blip.tv/play/AYK3o2sC]

Should You Need a License to Braid Hair? A Woman Files a Lawsuit Over the Issue

2011-04-28T09:28:00.001-04:00

by Dr. Boyce Watkins, Your Black World – Scholarship in Action

Jestina Clayton is a woman in Utah who is originally from Sierra Leone in West Africa. She does African braiding part-time in order to make extra money. She is now being confronted with the loss of significant income, since a law in the state of Utah claims that you must have a full cosmetology license in order to braid hair.

Clayton filed suit this week in the court of law. She is being backed by the Institute for Justice, a Virginia-based organization that helps people like Clayton challenge unjust laws.

“African hair braiding is safe, and you shouldn’t need the government’s permission to practice this trade,” said Paul Avelar, her attorney. “Both the federal and Utah constitutions protect every individual’s right to earn an honest living in their chosen occupation free from pointless government interference. When the government imposes unreasonable regulations, as it has done here, courts must protect the individuals’ rights. No one should have to hire a lawyer or lobbyist just to braid hair.”

Clayton said that she’d originally called the Cosmetology Board to determine if a license was necessary for her to braid hair.

“They told me I did not need a cosmetology license as long as I was not using chemicals,” she said.

After someone reported her business, she is now faced with the daunting cost of trying to get the license, which can be as high as $18,000 and require 2,000 hours of coursework.

“Licensing laws are a convenient cover for protecting a regulated industry from competition,” explained Tim Keller, executive director of IJ-Arizona. “By forcing hair braiders to get an expensive license, cosmetology schools are
guaranteed tuition-paying students and licensed cosmetologists are protected from competition, forcing consumers to pay more.”

This case is an important one for Ms. Clayton to fight, because hair care is an important industry for slews of black women all across America. Additionally, black women should be insulted by the fact that the hair care industry that they put billions of dollars into is controlled by people who are not black. Ms. Clayton is right to fight fire with fire by taking this case to court, and other black hair care providers would be wise to take note to learn how to gain a greater stake in the industry that drains money out of the pockets of black women everywhere.

My God daughter went to “hair school” after she graduated from high school. Although I’d voted for her to attend college, I eventually embraced the idea and started doing my research. Once I found out about the massive amounts of money being spent by black women in this industry, I encouraged my God daughter to accompany her hair stylist training with a few lessons on entrepreneurship. This would hopefully position her to be able to independently provide for her family in an industry that is not going to disappear any time soon. Many black women would rather starve than to let their hair go south, so the money will likely be flowing in perpetuity.

The point in all this is to say that we’ve got to be more creative in how we live our lives. Black people have long been free, but we still haven’t learned how to be independent. As long as we’re depending on others outside our community to provide us with the things we need (especially jobs), we will always remain vulnerable.

Dr. Boyce Watkins is the founder of the Your Black World Coalition. To have Dr. Boyce commentary delivered to your email, please click here.

Black Unemployment Reaches Depression Levels in Many Major Cities

2011-04-28T00:26:00.001-04:00

by Janell Ross, Huffington Post

CHARLOTTE, N.C. -- In the decade leading up to the Great Recession, Wanda Nolan grew accustomed to steady progress.

From an entry-level job as a fill-in bank teller, she forged a career as a commercial banking assistant, earning enough to become a homeowner. She finished college and then got an MBA. Even after the recession unfolded in late 2007, her degrees and her familiarity with the business world lent her a sense of immunity to the forces ravaging much of the American economy. Nolan was an exemplar of the African American middle class and the increasingly professional ranks of the so-called New South.

But in September 2008, everything changed.

A bank human resources officer called her into a private conference room. “All I heard was, ‘Your position has been eliminated,’” says Nolan, 37, who, despite being one of the more than 13 million officially unemployed Americans, still spends most days in her self-styled banker’s uniform of pearls and pants and practical flats. “My mind started racing.”

More than two years later, Nolan is still looking for a job and feeling increasingly anxious about a future that once felt assured. Her life has devolved from a model of middle class African American upward mobility into an example of a disturbing trend: She is among the 15.5 percent of African Americans out of work and still looking for a job.

For economists, that number may sound awful, but it’s not surprising. The nation’s overall unemployment rate sits at 8.8 percent and the rate among white Americans is at 7.9 percent. For a variety of reasons -- ranging from levels of education and continuing discrimination to the relatively young age of black workers -- black unemployment tends to run twice the rate for whites. Yet since the Great Recession, joblessness has remained so critically elevated among African Americans that it is challenging longstanding ideas about what it takes to find work in the modern-day economy.

Millions of people like Nolan, who have precisely followed the oft-dictated recipe for economic success -- work hard, get an education, seek advancement -- are slipping backward. Even as they apply for jobs and accept the prospect of a future with less job security and lower pay, they remain stalled in unemployment.

Trading down has become a painful truth for much of working America, but this truth becomes particularly stark when seen through the prism of race. Only 12 percent of all Americans are black, but working-age black Americans comprise nearly 21 percent of the nation’s unemployed, according to federal data. The growing contrast between prospects for white and black job-seekers challenges a cherished American notion: the availability of opportunity and upward mobility for all.

A Black Prof Discusses Racial Bias in Financial Decisions

2011-04-27T08:22:00.001-04:00

Your Black World reports

Have you ever tried to get a loan, and felt that you weren’t being treated the same as if you were white? What about watching that promotion at work being given to the white guy down the hall when you were the one slaving night and day for 20 years? Well, this feeling is not uncommon. A recent survey at YourBlackWorld.com showed that nearly 90% of African Americans feel that they’ve experienced some kind of discrimination in the workplace. In spite of our having a black president and attorney general, new laws have not been introduced to help people of color fight discrimination in the workplace.

Another prominent type of discrimination is the racial bias in other kinds of financial decisions. Millions of black people were victims of predatory lending during the recent financial crisis, leading to a massive decline in black family wealth over the last decade. Additionally, the ability to build a business, get government contracts or do other things to create financial security for your family can be impacted by the color of your skin. Prof. Stephanie Yates Rauterkus at The University of Alabama Birmingham speaks on the topic in the video below.

Click here to watch the video

To join the Your Black World Coalition, please visit YourBlackWorld.com.

NAACP Report on Gulf Coast: Healing Is Nowhere Near Being Complete

2011-04-21T23:54:00.001-04:00

“My Name is 6508799”

State of the Gulf, One Year After the Oil Drilling Disaster

This numbered moniker is how a participant at the Destin, Florida Town Hall meeting with Gulf Coast Claims Facility Administrator Kenneth Feinberg introduced herself.

For many residents residing in communities along the Gulf of Mexico, they feel as if their lives have been reduced to a number in the Gulf Coast Claims Facility database which holds so much power over life, livelihood, health and overall wellbeing.

One year after the Gulf Oil Drilling Disaster of April 20, 2010, thousands of Gulf residents not only have not been “made whole” from the disaster, but many have faced elevated levels of toxins in their bloodstreams, community conflicts, destruction of families, culture erosion, loss of property, including homes, cars, boats, etc., and, for many, an end to their way of life for the foreseeable future. Only a fraction of Gulf residents truly believe that the systems that have been set up to serve them have made demonstrable strides towards “making it right”, as has become the mantra representing the aim of recovery and restoration processes.

Based on dozens of interviews with affected communities and the organizations that represent them, a review of consensus documents and other reports from technical experts as well as organizations representing thousands of gulf residents, and examination of response systems set up to address the Gulf Oil Drilling Disaster, this report tells the illustrative stories and shares the analysis of the pervasive unmet needs and gaps in the response system one year after the Deepwater Horizon Macondo Well explosion took 11 lives and dealt a crippling blow to the ecosystem, including the communities, of the Gulf of Mexico.

Click to read more.

Technorati Tags: naacp,civil rights,black politics

Deborrah Cooper Explains What It Means for a Woman to “Submit” To Her Man

2011-04-21T20:59:00.001-04:00

by Dr. Boyce Watkins, Your Black World

Given the importance of the critical theme of black relationships (which we’re hitting from various angles this week on YBW), I had to get another perspective on some of the things that folks are quoting from the bible as it pertains to how black relationships need to be structured. What does it mean for a black man to “lead” in his relationship? What does it mean for a woman to “submit?” One thing that many of us can agree on is the fact that black relationships have been falling apart for a very long time. The majority of our homes are being run by a single parent, and far too many children are growing up without their fathers in shouting distance. What some don’t acknowledge is that there is a direct correlation between the break down of the black family and the growth of the prison industrial complex. Locking up men for decades for the sale of drugs that were brought into our communities has devastated many of us, and urban decay in the 1980s led to job losses with few viable alternatives to illegal activity. A recent study in The Economist showed that a one percentage point increase in the incarceration rate leads to a 2.4 percent decline in the percentage of black women who eventually get married.

Forest Whitaker and the IRS: The Problems Keep Growing

2011-03-23T09:57:00.001-04:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

Hollywood superstar Forest Whitaker was recently hit with a large tax bill after failing to pay $185,000 he owed to the IRS. The tax collectors in California have cited Whitaker and filed a lien for the balance. Both he and his wife Keisha are named in the complaint, which was filed in the Los Angeles County Recorder of Deeds.
It was reported in 2009 that Whitaker owed $1.29 million in state and federal taxes. Whitaker is not the only Hollywood megastar to have tax problems. Actor Wesley Snipes is in prison until 2013 after being charged with failing to file tax returns for three years.
Chris Tucker was hit with some very serious tax problems himself, as the LA County Records Office showed that Tucker owed over $11 million in taxes up through 2006. Actor Nicolas Cage was also found to owe millions to the IRS.

Dr. Boyce Spotlight: Black Female Entrepreneur Teaches Math to Make Her Money

2011-03-21T22:29:00.001-04:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

What is your name, and what do you do?
My name is Stephanie Espy, and I'm the founder and president of MathSP (www.MathSP.com). MathSP is a math enrichment company that helps individuals to improve their math skills. Based in Atlanta, Georgia, MathSP provides instruction to middle school students, high school students, college students, adults who need additional math-based resources alongside their coursework, and students who need an added challenge beyond their coursework. MathSP also prepares individuals for the math section of various standardized tests such as the SAT or ACT, computer-adaptive exams such as the GMAT or GRE, and state exams such as the EOCT or GHSGT.

The Tom Joyner Cruise Sets Sail: How Black People Need to Network

2011-03-16T18:06:00.001-04:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

This morning, I got a text from my respected colleague, Roland Martin. I can't remember what Roland and I were talking about, but I do remember what he told me at the end of our conversation. Roland mentioned that he couldn't do anything next week because "the cruise is leaving in a couple of days." I immediately became jealous, because I knew he was talking about the Fantastic Voyage, hosted by Tom Joyner.

I'm not always big on black folks looking for another party, but there is something I love about the Tom Joyner Cruise. Anyone who's ever been on a cruise knows that seeing another black person on a cruise ship is like searching for Louis Farrakhan at a Klan rally. While cruises can be fun, comfortable and even exciting, there is a dryness that people of color experience from a lack of cultural diversity.

Sil lai Abrams: How to Deal with Financial Insecurity

2011-02-04T21:48:00.001-05:00

by Sil lai Abrams – Sepiaprocess.com

When times are difficult for us financially, we can become paralyzed by fear. As the fear grows in our mind we often get stuck focusing on the problem and not actively searching for a solution. Our attention becomes fixated on our creditors and as we look at our mountain of debt we can become weighed down in despair and shame. “I’m never going to get through this” or “This is more than I can handle” begins to play on a constant loop in our brain. Some of us respond to our problem with denial. Instead of facing our lack of money, we spend as if we have unlimited resources, compounding our original financial instability. Or, we may isolate from others and numb ourselves with food, alcohol or television. Sometimes we avoid dealing with our situation by throwing ourselves into a relationship that takes up all of our time. None of these counterproductive behaviors do anything to bring us closer to a solution. They only keep us stuck in our problem by postponing or delaying our eventual day of financial reckoning.

CEO Speaks Back to Bishop Eddie Long’s Financial Mismanagement Allegations

2011-02-04T16:57:00.001-05:00

Bishop Eddie Long did a Youtube appeal to former Capital City Corp CEO Ephren Taylor about members of New Birth Missionary Baptist Church who allegedly lost money as a result of their investments. Taylors reps have responded with this statement below:

FOR YOUR IMMEDIATE ATTENTION
January 31, 2011
MEDIA CONTACT:
Candace Reese J.
Envision Global
(678) 367-3117
C.Reese@EnviGlobal.com

STATEMENT FROM EPHREN W. TAYLOR ON BISHOP EDDIE L. LONG
YOUTUBE VIDEO APPEAL AND NEW BIRTH MISSIONARY BAPTIST
CHURCH WEALTH TOUR 2009

ATLANTA, GA (EnviGlobal.com) – Business Accelerator and entrepreneur, Ephren W. Taylor releases the following statement regarding the recent Youtube.com video appeal posted by New Birth Missionary Baptist Church pastor, Bishop Eddie L. Long:
Due to many inaccuracies, and based upon what I view as a direct character assassination and an attempt to paint a picture of an inability, on my part, to take responsibility for the actions of City Capital Corporation during my tenure as CEO, I am extending facts relative to the aftermath of the Wealth Tour at New Birth Missionary Baptist Church.

Dr. Boyce Spotlight: Black Relationships Guru Builds Career from Giving Advice

2011-01-12T10:59:00.001-05:00

Given that I've always been concerned about the breakdown of black families, I thought I would reach out to a woman who's made a career out of speaking to the challenges of black relationships. Her name is not Steve Harvey, so she's not a comedian. Instead, she's serious about figuring out what it takes to make our relationships work and she's even asked if the black church keeps women single and lonely. We can't let either black men or black women off the hook when it comes to the breakdown of our families, for both parties react in ways that are reflective of hundreds of years of societal abuse. As a result, black men and women end up angry and hurt by one another with both sides pointing fingers. But at the end of the day, you are the one who is responsible for your own behavior, so if your relationships are all falling apart, your journey must start by glancing into the mirror. While simply choosing better people to date might be part of the solution, that can also be a copout (since you spend your life searching for "the one" who can manage all of your own dysfunction). Instead, honest reflection on the manner by which you go about loving people who come into your life is probably more important. It is because of my concern on this issue that Deborrah Cooper is today's Dr. Boyce Watkins Spotlight for AOL Black Voices.

1) What is your full name and what do you do?
Deborrah Cooper is my given name. I'm a dating expert, writer/columnist and broadcast journalist. I've been writing controversial relationship based articles and dating advice columns under the pen name "Ms. HeartBeat" since 1992. As a matter of fact, I served as the relationship columnist on AOL's "other" Black channel (NetNoir) in the mid- to late 1990s.

Three Things Obama Can Do for Black People

2011-01-10T21:33:00.001-05:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

I was shaking my head over and over again in preparation for a conversation we are going to have on NPR tomorrow about President Obama. The show is called "Talk of the Nation," and I had the esteemed honor of being the resident black guy, as the other two guests are set to discuss various elements of foreign and domestic policy. I'm just joking about the "black guy" thing, since I'm just happy they didn't choose someone like Juan Williams.

At any rate, my brain started spinning on how President Obama can best use the remainder of his first term as it pertains to people of color. I thought carefully about what he's done, what he's doing, what he's up against and what matters to us. In my course of thought, I came to a few conclusions.

click to read.

Dr. Boyce Video: Black Economic Empowerment

2010-12-24T13:31:00.001-05:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

Zachary Rinkins is serious about money. He's been running a very popular financial blog for the past several years, and has positioned himself as one of the most respected financial bloggers in the black community. I love what Zachary is doing because he reflects a generation of young people who are interested in seeing themselves empowered through economic success.

Visit Your Black World for more black news, black politics, and black celebrity gossip!

Julianne Malveaux: Surviving and Thriving During the Holidays

2010-12-21T12:38:00.001-05:00

by Dr. Julianne Malveaux, President – Bennett College

When I look at the data that define the reality for African Americans in the economy, I am often alarmed and discouraged. One in four African American lives in poverty. Nearly one in three is out of work, according to unofficial data (official data says one in six). African Americans have lost billions of dollars worth of wealth in the foreclosure crisis. We aren't alone in our pain - our nation is hurting. But our pain is more pronounced, more acute, more debilitating.
This is hardly the first time African Americans have experienced disproportionate pain. Indeed, the story of our presence in this nation has been a story of us shouldering more than our share of economic pain. When people ask me about the wealth gap, I remind them that black folks used to be the wealth white folks accumulated. Under those circumstances, it is difficult to imagine that the wealth gap will ever be closed.

And yet we rise. I wrote my latest book, Surviving and Thriving: 365 Facts in Black Economic History, to remind me, to remind all of us, that even in harsh times African Americans have been more than survivors, we have been thrivers. We have made it despite horrible conditions, despite unfairness, despite racism. The playing field has never been level, and yet we have played on the slanted field, returning, returning, and sometimes winning. In the middle of a week of running around, talking about the book in Detroit and in Chicago, I had to smile at myself with air of satisfaction and acknowledge a job well done.

Visit Your Black World for more black news, black politics and black celebrity gossip!

Wells Fargo Says It Plans to Be Nicer to Black People: Oh Really?

2010-12-16T15:26:00.001-05:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

I got a call not too long ago. It was from Wells Fargo, the bank that has been sued by one county after another for engaging in predatory lending toward the African American community. My first question to my business manager was "What do they want? I'm probably not going to be interested." My personal negotiations with Wells Fargo didn't go very far. I had no interest in being associated with the company that many believe to have ripped billions of dollars in wealth from a community that has such little wealth to begin with. Also, after watching my grandparents lose the home they'd lived in for over 40 years, it was personal for me. I also applaud Tavis Smiley for ending his affiliation with Wells Fargo after the predatory lending allegations surfaced during the financial crisis.

You can imagine my dismay when the NAACP made a deal with Wells Fargo that led to the company immediately becoming the title sponsor of the organization's national convention this year. I spoke with NAACP President Ben Jealous about the matter, and I was ultimately left unsatisfied with the degree of transparency behind the deal. It's one thing to say that you're going into the demon's house to clean it up, but you must provide proof that you're not simply entering the house to enjoy the spoils of colluding with the demon. To date, the NAACP has not done an adequate job of describing the nature of its financial deal with Wells Fargo, and the group has also not made clear exactly how Wells Fargo is going to make up for the billions in losses that have been caused to the African American community. Having the most powerful civil rights organization in America as a "partner" effectively releases Wells Fargo from the threat of any significant criticism for their activities in the black community (other than conversations that occur behind closed doors). If this partnership is not clearly defined and empowered, Wells Fargo could hire thugs to rob old ladies in the hood and the NAACP wouldn't be able to say a thing.

Visit Your Black World for more black news and black politics!

Should You Be Able to Sue Someone for Taking Your Fiancee?

2010-12-03T21:29:00.001-05:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

Former NBA star Antoine Walker is being sued for $5 million dollars by a man who claims that Walker stole his fiancee. Kevin Jenkins says that he caught Walker and his fiancee in an "intimate moment," and confronted Walker about it. He said that Walker laughed in his face to deliberately cause him emotional distress.
Jenkins then says that he became so emotionally distressed that he thought about killing himself.
To date, I haven't heard of anyone being sued for cheating with another person's fiancee. However, I do know that in some states, you can be sued for cheating with someone else's spouse. These "alienation of affection" lawsuits are legal in several states: Hawaii, Illinois, Mississippi, New Mexico, North Carolina, South Dakota and Utah.

Visit Your Black World for more black news!

Dr. Boyce: Black Unemployment Keeps Going Up

2010-12-03T14:20:00.001-05:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

Today's release of November unemployment data is not good news for President Obama. Unemployment rose nationally to 9.8 percent, after holding steady at 9.6 percent for the previous three months. The jobless rate jumped for nearly every racial/gender demographic. White women still have the lowest unemployment rate of both genders, when comparing African Americans and whites. Black males have the highest.

Black unemployment rose again from 15.7 percent to 16 percent. This number is slightly lower than the high of 16.3 percent experienced back in August. When scaled with the white unemployment rate of 8.9 percent, the black unemployment rate is 79.8 percent higher than that of white Americans.

Jack Johnson, DC County Exec and Wife Arrested for Corruption: What Can We Learn from This?

2010-11-19T17:25:00.001-05:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

I was saddened to hear about the recent arrest of Prince George's County Executive Jack Johnson and his wife Leslie. Both Jack and his wife are well-respected in the DC area. Both have served their communities for decades, and both of them represent the essence of Prince George's County, the most affluent county in the United States with an African-American majority population.
Johnson was once an important ethical and legal protector of the county, serving as its lead Prosecutor. His wife has served the community for over 30 years in numerous capacities. He was also the first African American to become County Executive in the DC area. So, why are Johnson and his wife facing up to 20 years in prison for evidence tampering and destruction of evidence, among other charges? In fact, the story is quite bizarre, with reports of the FBI allegedly recording Johnson telling his wife to put nearly $80,000 in her underwear.

Former NFL Player Married to Two Women at Once

2010-11-16T12:00:00.001-05:00

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by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

A judge in Pennsylvania recently ruled that former NFL running back Tom Sullivan's death benefits should not go to the wife he was allegedly married to after his death. Instead, the benefits should go to a woman he married years earlier, but never divorced.
Tom Sullivan's ex-wife Barbara Sullivan has two daughters with the player from their 16-year marriage. Since Tom's death in 2002, Barbara and their two daughters were receiving $2,700 per month under the NFL's spousal benefit policy. Under South Carolina's bigamy law, the benefits do not legally belong to her and were stopped immediately.

Black Men See Biggest Dip in Unemployment

2010-11-06T17:04:00.001-04:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

How one analyzes the black unemployment numbers for the month of October really comes down to whether you see the glass as being half empty or half full. On one hand, most of the indicators of black unemployment went down, but they still remain remarkably high relative to the numbers for white Americans.
According to data released by the Bureau of Labor Statistics, black unemployment dropped by .4 percentage points, from 16.1 percent to 15.7 percent. The number is still nearly double that of white unemployment, which lies at 8.8 percent.
Black male unemployment actually saw the steepest decline among all race/gender groups, dropping from 17.6 percent to 16.3 percent. The number is still 83 percent higher than white male unemployment (which is 8.9 percent).
Black women saw a slight increase in their unemployment rate, which went from 12.6 percent to 12.7 percent. The unemployment numbers for black women are 74 percent higher than those for white females (at 7.3 percent, lower than any other group in America).

The Latest from The Invested Life – 10/29/10

2010-10-29T11:34:00.001-04:00

Chicago:

(video) Tom Forde talks about whether a Roth IRA is right for him, and what he’s learned as he’s researched it:

http://bit.ly/aGO9uC

(text) while Matt Sapaula says that financial security is important, but insuring yourself is every bit as vital:

http://bit.ly/bhh8eC

Portland:

(video) Kathleen Lansing explains why her road to retirement is scary, but it makes the small business owner proud to hear about the value of her life’s work:

http://bit.ly/9XdF7n

(text) While Jenn Meacham looks back on the most important financial lesson she learned, at age fourteen:

http://bit.ly/cY3cUS

Los Angeles:

(video) Lisa and Brandon Schindelheim explain how switching roles taught her about finance, and him about he difficulties in being Mr. Mom:

http://bit.ly/bkM7w5

(text) While Candace says that’s it important to educate not only yourself about finances, but your kids as well:

http://bit.ly/aDm6yX

New York:

(text) Jennifer Sherwood explains why shopping in fancy stores might be a rush, but so is saving money:

http://bit.ly/cAQsyV

(text) While Dr. Boyce Watkins says that you don’t need to have big money to build a portfolio:

http://bit.ly/a4e8YR

Colorado:

(text) Michael Jake is glad to hear that his business has grown enough to start hiring, but has his concerns:

http://bit.ly/ajLbzk

Dallas:

(text) On our show, we’ve seen former NFL star Winfred Tubbs thinking about buying a house. In this new blog, he reveals that he’s had to scrap those plans and live in his condo instead until the real estate market improves:

http://bit.ly/bZNNn6

(text) While Ed Butowsky talks up the value of utility stocks:

http://bit.ly/cQiuZW

Miami:

(text) Suzan McDowell reveals her list of the 10 must-by priorities she can’t live without, and what she learned about herself while compiling it:

http://bit.ly/bWYiX7

(text) While Ben Tobias explains that if you don’t know what’s important to you, you’ll never effectively maximize your happiness:

http://bit.ly/9e6k3c

Is Racism an Occupational Hazard for African Americans?

2010-10-25T01:00:00.001-04:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

Most of us know Hanes Brands as the company that has Michael Jordan peddling underwear. The company is also responsible for other leading brands such as Champion sports apparel and Playtex, among others.

The company is now in the middle of controversy after an African American employee, Yunusa Kenchi, filed suit for discrimination. An embarrassing email has allegedly surfaced in which Kenchi was referenced using the n-word. The employee has taken the case public, and Hanes has yet to respond.

New Birth, Eddie Long’s Church, Gets Sued Yet Again

2010-10-15T12:05:00.001-04:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

A woman who was once employed by the New Birth Missionary Baptist Church is suing, alleging that other employees retaliated against her when she complained about being sexually harassed. Tama Colson filed suit in the U.S. District Court of North Georgia, with the suit asking for unspecified damages.
Colson says that another employee showed her a picture of a penis on a cell phone. She says that when she complained about the incident, other employees retaliated against her. She is claiming that the church is responsible for the harassment she experienced, as well as the retaliation and emotional distress.
"New Birth has a strict policy against sexual harassment that requires employees to report the complaint within 48 hours of the abuse," Long and church spokesman Art Franklin told CNN.
"Tama Colson's complaint allegedly happened in October of 2009," the statement said. "Although, Tama Colson was aware of the New Birth sexual harassment policy she did not make her complaint known to New Birth authorities until August of this year. New Birth moved swiftly to launch an investigation that is ongoing.”

Dr. Boyce Gives More Coaching on MSN’s “The Invested Life”

2010-10-11T20:12:00.001-04:00

A new episode of our MSNBC special is out. You can watch it by clicking here.

CBC Joins Dr. Boyce Watkins in Call on Black Unemployment Issue

2010-10-11T12:46:00.001-04:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

From Black America Web via Clutch Magazine

On the heels of September's mixed unemployment report, the Congressional Black Caucus renewed its call for President Barack Obama and Congress to do something to specifically address the nation's high black joblessness rate.
The country's unemployment rate remained stuck at 9.6 percent, according to Bureau of Labor Statistics. The economic monthly report was a mix of good news and bad. The good: The private sector added 64,000 jobs last month. The bad: Government agencies cut 159,000 jobs, many of them federal Census workers and state and local employees.

Why are Corporations Not Hiring the way we need them to?

2010-10-05T18:20:00.001-04:00

Click here to watch Dr. Boyce Watkins on CNBC

Why Do Black Athletes Go Broke? Let’s Figure Out Why

2010-09-30T01:37:00.001-04:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

I am participating with MSN in a project called "The Invested Life." The program represents the launch of a series of web-based episodes that teach the fundamentals of investing to regular, everyday people. I've worked on the show for months, and I'll be engaged in the project for the rest of the year. It's been an interesting jump into the world of film making, with scripts, production schedules and all that good stuff. I've gained a newfound respect for how hard real actors and actresses actually have to work.
A guest on the show is a man named Winfred. Winfred is a former NFL athlete who found himself done with sports and trying to make sure that his wealth lasted until retirement. He made an interesting point that for many athletes, the challenge of retiring young with virtually no skill set can be a one way ticket to the poor house. As a man who is concerned about the plight of the black athlete, I constantly see men who've traded away their entire educational future in exchange for a very short and meaningless life of glamor in professional sports.

Did Eddie Bernice Johnson Take Scholarships from Deserving Black Youth?

2010-09-28T18:40:00.001-04:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

I watched 'Anderson Cooper 360' last night, and saw a black woman's face on the screen. Like most other African Americans, this was my cue to turn the volume up to find out what might be going on. As I watched Anderson stare at the screen with his piercing, cold, concerned eyes, I could see that he and his guests had made the Congressional Black Caucus their target for the night. The arrows hit the bull's-eye, and Anderson seemed to keep throwing them.

The subjects of their disdain were Eddie Bernice Johnson (D-Texas) and Sanford Bishop (D- GA). Both of the legislators are being accused of using CBC Scholarship funds as their personal family gift bag. Johnson was made into the worst of the culprits, giving $31,000 in scholarship money to her relatives. She also signed two letters written to the CBC Foundation specifically requesting that the funds be sent directly to her two grandsons and grand nephews, instead of their universities. Rep. Bishop is accused of giving three scholarships to his stepdaughter and wife's neice in 2003 and 2005.

African American Woman Says She’s Exhausted of Defending Obama

2010-09-21T14:20:00.001-04:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

A black woman stood up in the Town Hall Meeting held by President Barack Obama yesterday and made a comment that got the attention of the world. She mentioned that she was "exhausted" from trying to defend the president to his critics:
I am one of your middle class Americans and, quite frankly, I'm exhausted... I'm exhausted of defending you. I'm exhausted of defending your administration, defending the mantle of change that I voted for. And I'm deeply disappointed with where we are right now.
I have been told that I voted for a man who said he was going to change things in a meaningful way for the middle class. I am one of those people and I'm waiting sir. I'm waiting. I don't feel it yet. And I thought, while it wouldn't be in great measure, I would feel it in some small measure... And quite frankly Mr. President, I need you to answer this honestly: Is this my new reality? (Thelightnc.com)

Black in America on CNN: Their Incorrect Analysis of the Black Wealth Gap

2010-09-20T15:17:00.001-04:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

I was recently checking out some of CNN's special, "Black in America," the show they seem to do once a year. In the series, African Americans are analyzed like lab rats in a cage, with producers highlighting every dysfunction imaginable, as if we have a monopoly on counter productive behavior. Although I've always had a good relationship with CNN, I can barely stomach some of what I see. This is not to say that black folks are perfect: but the idea that we are somehow less perfect than whites is nothing short of paternalistic, White Supremacist thinking.
The segment that threw me through the roof was one covering the wealth gap between blacks and whites. In this particular Black in America segment, CNN shows that the wealth gap between blacks and whites is $28,000 to $140,000, with whites being the leaders. They then go on to state that African Americans save and invest less than whites. I give a "check" on most of these numbers, I have no problem with the data.

Black Scholars Watkins and Metzler on CNBC – 9/15/10

2010-09-15T13:19:00.001-04:00

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Black Scholars Dr. Boyce Watkins and Dr. Christopher Metzler Discuss "Keeping The Bush Tax Cuts" on CNBC

Dr. Boyce Writes an Open Letter to President Obama on AOL Black Voices

2010-09-13T18:39:00.001-04:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

Dear Mr. President,

I write this letter with all due respect to yourself, as well as the office of the presidency. Your historic rise up the political ladder has been nothing short of inspirational, and your extraordinary vision has positioned you as one of the most celebrated leaders in the history of the United States. As a fellow scholar and African American male, I applaud your achievements. I am especially excited about how you, Michelle, and your beautiful daughters present such a magnificent image of the African American family.
While the black community remains inspired by your achievements and overwhelmingly sympathetic to your challenges from conservatives, there are concerns that the economic plight of black Americans has not been a priority for the Obama Administration. To be sure, opinions on this matter are far from unanimous. But the numbers tell a story that needs to be heard.

Black Relationships 101: What’s Up With Black Couples?

2010-09-10T15:41:00.001-04:00

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action

I have a theory that I've wondered would hold up to empirical scrutiny. My theory is that there are quite a few women who might be willing to settle for part of a good man rather than having 100% of a mediocre man. For example, men like Tiger Woods might have more girlfriends than most of us can count, and some would wonder if any of those women expect him to be committed to just one person. Not to say that I condone one lifestyle over another, but we all know how things go down in the real world.

When You Die, Who’s Responsible For Your Debts?

2010-09-01T12:29:00.001-04:00

by Dr. Boyce Watkins, Syracuse University

You are going to live forever. Death is beneath you. Those who depend on you financially will always be able to rely on your immortality as a guaranteed source of financial security. I hope you don’t think I’m lying, being sarcastic or sounding flat out silly. Perhaps you do.

Ok yes, I was being silly. But the reality is that most of us are equally ridiculous when it comes to our perception of death and how our sudden passing could financially ruin those who care about us. Death doesn’t care how many appointments you have, how many projects you’re working on, or how many plans you have for the future. It just takes you, and it’s always at the least convenient time. That’s the nature of the Grim Reaper, who might not be nearly as malicious as the bill collectors seeking to get their money back after you’re gone.
While comprehensive financial planning is beyond the scope of this article, I can share a few tips on dealing with debt in the event of your death. This information could help you when dealing with a deceased relative, and it should also be shared with your relatives in case you pass on unexpectedly.

Dr. Boyce Watkins: How to Teach Your Kids About Money

2010-09-01T11:05:00.001-04:00

by Dr. Boyce Watkins, Syracuse University

Given that our children are likely our greatest expense and greatest love, perhaps it might be helpful to discuss how we teach them about money. If you raise your kids to be financially responsible, they can be assets to you during retirement. If they are taught about money in the wrong way, they become horrible economic liabilities that leave you riddled with guilt. So, although I don’t claim to know everything about child rearing, I thought I’d share some guidelines you might want to consider when it comes to teaching your kids about money.

Diddy's Son Gets a $350,000 Car - Is that too much?

2010-06-13T20:37:00.001-04:00

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Some think it's too much that Diddy's son got a $350,000 car for his 16th birthday - do you agree?

Did Gary Coleman's Wife Kill Him?

2010-06-07T10:38:00.001-04:00

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Did Gary Coleman get murdered by his wife? ;

Do Tiny and Toya Promote Prison Love?

2010-05-27T15:02:00.001-04:00

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Is it right for the BET Show, Tiny and Toya to overromanticize prison life? ;

LeBron James' Mother and Her Son's Teammate: Overkill?

2010-05-24T15:15:00.001-04:00

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Is it right for LeBron James to be so distracted by the rumor that his mother is sleeping with his teammate?

Tiger Woods' Wife Asks for $750 Million - Is She Crazy?

2010-05-24T15:07:00.001-04:00

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Dr. Boyce and Tia discuss Tiger Woods' wife, Elin Nordegren and her reportedly asking Woods for $750 million in the divorce settlement

Dr. Boyce Watkins on ABC News - Love and Money Questions to ask Your Partner

2010-04-24T08:16:00.001-04:00

by Dr. Boyce Watkins, Finance Professor - Syracuse University

As a Finance Professor, I find it incredibly ironic that many people get married without talking about money. They talk about every kind of compatibility from emotional, to spiritual, sexual, and professional, but they seldom take the time necessary to ensure that they can tolerate the idea of sharing their financial life with a person who may not be on the same page. This problem is compounded in black relationships, where many women describe economic hurdles as one of the reasons that black women have trouble finding the right mate.

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Dr. Boyce on ABC News: Asking the right questions of your partner

2010-04-19T11:25:00.001-04:00

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What questions should you ask your partner before you marry them?

Dr. Boyce Watkins Talks About Financial Effects of Divorce on ABC

2010-04-19T10:25:00.001-04:00

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Dr. Boyce Watkins Talks About Financial Effects of Divorce on ABC

Dr. Boyce Watkins on ABC News: Love, Money and Divorce

2010-04-18T23:21:00.001-04:00

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Watch Dr Boyce Watkins, Finance Professor at Syracuse University on ABC News discussing money and divorce - how to do it the right way.

Doing The Tiger-Tiki: Black Athletes Who Cheat

2010-04-09T22:27:00.001-04:00

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Doing The Tiger-Tiki: Black Athletes Who Cheat

Black News: Homeowners Walking Away from Mortgages

2010-02-03T17:34:00.001-05:00

updated 12:25 a.m. ET, Wed., Feb. 3, 2010

In 2006, Benjamin Koellmann bought a condominium in Miami Beach. By his calculation, it will be about the year 2025 before he can sell his modest home for what he paid. Or maybe 2040.

“People like me are beginning to feel like suckers,” Mr. Koellmann said. “Why not let it go in default and rent a better place for less?”

After three years of plunging real estate values, after the bailouts of the bankers and the revival of their million-dollar bonuses, after the Obama administration’s loan modification plan raised the expectations of many but satisfied only a few, a large group of distressed homeowners is wondering the same thing.

Woman Puts Cheater's Face on Billboards

2010-01-29T12:00:00.001-05:00

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Dr. Boyce and S. Tia Brown discuss the woman who puts cheater's face on billboards

Beyonce and Her Rapping Husband – As Rich as they Wanna Be

2010-01-21T18:20:00.001-05:00

What makes more than an uber-celebrity who earns millions per movie, album, or TV season? Two uber-celebrities who just happen to be married. Forbes is always giving us a behind-the-scenes peek at famous finances—don't tell us you weren't surprised by the top-earning dead celebrities—and their latest list shows the famous couples who made the most from June 2008 to June 2009. Topping the list—actually, clobbering the list (they made almost twice what the #2 couple grossed)—are Jay-Z andBeyonce. Together, they banked $122 million smackeroos. Interestingly, Beyonce is the one who brought home the most bacon—she earned $87 million to his $35 million. Also notable: While this is a massive amount of money, it's actually much less than these two made last year, when they pulled in $162 million cumulatively.

Black News: Study Finds Financial Benefits to Marriage

2010-01-20T09:26:00.001-05:00

Historically, marriage was the surest route to financial security for women. Nowadays it's men who are increasingly getting the biggest economic boost from tying the knot, according to a new analysis of census data.

The changes, summarized in a Pew Research Center report being released Tuesday, reflect the proliferation of working wives over the past 40 years — a period in which American women outpaced men in both education and earningsgrowth. A larger share of today's men, compared with their 1970 counterparts, are married to women whose education and income exceed their own, and a larger share of women are married to men with less education and income.

"From an economic perspective, these trends have contributed to a gender role reversal in the gains from marriage," wrote the report's authors, Richard Fry and D'Vera Cohn.

Why Black Women Are Not Getting Married

2010-01-08T23:04:00.001-05:00

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Dr. Boyce Watkins and S. Tia Brown discuss some of the reasons that Black women are deciding not to get married.

Why Black Women Are Not Getting Married

2010-01-08T16:50:00.001-05:00

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Dr. Boyce Watkins and S. Tia Brown discuss some of the reasons that Black women are deciding not to get married.

Tiger Woods Divorce might cost him a lot of Money

2009-12-03T23:44:00.001-05:00

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Tiger Woods and his financially costly divorce - what's he going to have to pay?

Why Are Black People Not Getting Married?

2009-11-29T22:35:00.001-05:00

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Are the men or the women to blame for the reason that black people are not getting married?

How Your Family Can Manage the High Cost of Health Care

2009-11-06T20:14:00.001-05:00

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Get health care tips from Dr. Elaina George - how is your family going to afford it?

Mother, Wife and Businesswomen: How do you Balance?

2009-10-27T18:11:00.001-04:00

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In this episode of Financial Lovemaking, Dr. Boyce and Tia talk with Towanna Freeman, an author, speaker, wife and mother on how to balance love, life, and success.

The Triple Threat: Wife, Mother and Business Woman

2009-10-22T22:19:00.001-04:00

by Dr. Boyce Watkins, AOL Black Voices, Your Black World

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."

Financial Lovemaking: Shooting Your Daughter's boyfriend

2009-10-21T13:52:00.001-04:00

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We all want to protect our kids, but does it make sense that Wade Edwards shot his daughter's boyfriend?

Economic News: Entrepreneurs Create their own Economic Recovery

2009-10-11T10:54:00.001-04:00

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.