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“A MAGAZINE ABOUT BLACK ECONOMICS” Co-Publisher Essay Graphics

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Aaron Sanders

Special Adviser Westside Master J Black Economic Emancipation Proclamation Magazine Vol. 2 No. 2

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[CONTENTS] -EDITORIAL5. Aaron Sanders, Entrepreneur Summit Coming To Charlotte

-ESSAY9. Yram McIntire, NCAA: A Gentle Ask 16. Arasa Close, Link Between 2018 and 1918: A Re-Consideration

-FAITH15. Art & His Servants 1/12/2018

-IN MEMORIAM25. Winnie Mandela (1936 - 2018) 26. Lerone Bennett (1928 - 2018)

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www.blackenterprise.com/entrepreneurssummit

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[Editor’s Main Street]

Entrepreneurs Summit Coming to Charlotte By Aaron Sanders The general consensus is the number one obstacle for blackowned startups is by far access to capital. Quite the contrary by some estimates ‘scale’, not access to capital, is that elusive and unmet contingent. Scaling-up where your small businesses can hire workers, and grow your business from a sole proprietorship onto the next structured level of business ownership. Really, when was the last time you noticed a black-owned startup subscribe their intentions with investment bankers and with other potential investors, and then file their IPO (initial public offering) plans with the SEC ?

To challenge this elusive contingent is CONNECT + BUILD + ELEVATE yourself at the 2018 Black Enterprise Entrepreneurs Summit hosted by Nationwide, June 6-9, 2018 at the Charlotte Convention Center. Expect innovative sessions, high -powered speakers, access to investors, and an early peek at the products, trends, and services you’ll need to stay ahead of the curve. The Summit will enrich you for three days of information sharing, networking, deal-making, and will bring you closer to an impressive list of African American small business owners, as well as different levels of corporate professionals. Black Enterprise in the ‘QC’ (#BEINTHEQC) will include special workshops and sessions tailored just for Charlotte. The Summit 5


will be used to kick-off a new beginning for the ‘QC’. There will be business opportunities for black-owned businesses from national and local levels, not least of which include CLT Douglas Int’l Airport contracting sessions, as well as economic development opportunities through the 10-year $600M dollar New Brooklyn Village development spearheaded by Don Peebles, the nation’s largest black real estate developer. The Summit will serve as a showcase of black eateries through Black Food Truck Thursday; BLKTech Charlotte will be attending; and there will be college scholarships on hand to provide our more youthful new business startups with startup money. There will be hundreds of attendees on hand to enjoy the Summit’s business round tables, business development sessions and workshops. Special speakers who are successful themselves have helped the BE Summit become one of our nation’s most enterprising entrepreneurial summits. Previous summit speakers include Bishop T.D. Jakes, Magic Johnson, Lisa Nichols, Patti LaBelle, Janice Bryant Howroyd, Steve Harvey, Egypt Sherrod and Robert L. Johnson. Among the confirmed speakers for Charlotte is the owner of the NBA’s Dallas Mavericks, Mark Cuban. But the Black Enterprise Entrepreneurs Summit does more than provide the best business opportunity of 2018, it is committed to our right to Connect + Build + Elevate. To embrace and foster new business trends by collecting data, build our social media platforms, use our social capital to develop new business partnerships, further elevate ourselves through alternative funding sources like Charlotte City Councilman James angel investors. The connections with proMitchell (foreground left) and the #BEINTHEQC steering committee fessional business coaches, with notable top entrepreneurs and corporate professionals, are invaluable for any startup. And the Summit offers young entrepreneurs the opportunity to pitch their startups at a major business summit. 6


Trending way ahead of the competition as the nation’s foremost African American event for business information and networking, the BE Entrepreneurs Summit consistently attracts more than 1,000 of the nation’s most powerful corporate leaders, business owners, venture capitalists, and decision makers. The annual Summit is expected to deliver more than $4 million to Charlotte’s economy and heighten the profile of the region’s 13,000-plus African American- and minority-owned businesses. Black Enterprise (BE), your ultimate source of Wealth for Life, is the premier Press conference with Charlotte Mayor Vi Lyles business, investing, and wealth-building resource for African Americans. Since 1970, Black Enterprise has provided essential business information and advice to professionals, corporate executives, entrepreneurs, and decision makers.

Every month, black enterprise magazine provides 4 million readers with information on entrepreneurship, careers, and financial management. A multimedia company, BE also produces radio and television programming, business and lifestyle events, web content, and digital media. Black Enterprise is the definitive source of information for and about African American business markets and leaders, and the authority on black business news and trends.□ 7


www.blackenterprise.com/entrepreneurssummit

Charlotte, North Carolina

www.blackenterprise.com/entrepreneurssummit Results Wu-Tang Name Generator: Black Enterprise Entrepreneurs Summit 8


NCAA: A GENTLE ASK by Yram McIntire

Last fall the college basketball season began with the FBI charging ten people associated with college basketball with fraud and corruption. Four of the ten included basketball coaches. The remaining six were a mix of agents, college boosters, corporate sponsors and players. Some call it the under -belly of college basketball. The championship still took place even after college basketball itself was under federal scrutiny. Assistant coaches have been accused of bribery and corruption, and recently current and former players for UNC, Duke and NC State have been implicated. Billions of dollars exchanged hands last month before our very eyes as we again watched another post-season of NCAA college basketball. All across America and in our homes the Division I conference championships set the brackets for the NCAA Tournament which starts the ball rolling for the popular and faithfully supported post season nicknamed March Madness. Those brackets determine the 68 team field for the tournament’s inventory of ball games which in turn supply the 9


framework for another Division I men’s basketball playoff season. The four best teams in the regional rounds conclude their post season by representing their institutions in the Final Four Tournament. This year the city of San Antonio, TX hosted the Final Four. The tournament is a great display of sportsVillanova Wildcat players celebrating big win manship and athleticism, bookended by endless cheers and hugs as the Villanova University Wildcats on their way to becoming the national champions overwhelmed the University of Michigan Wolverines with a final score of (79-62). But off the ‘hardwood’ college basketball faces controversy and scandal. The NCAA is a non-profit athletic association which was founded in 1905. It was formed by the member schools, so it is by statute the governing body for all of competitive amateur college sports on those member campuses. It has morphed into a huge mega athletic association. Their corporate headquarters is located in Indianapolis, Indiana where they operate as policy-makers and hold the title of ‘ruling body’ for the member schools. Together with the schools, the NCAA decides how college sports will be run. At the heart of the FBI investigation is money, federal law enforcement, and the on-going debate whether college ath10


letes should be paid money for their services. NCAA rules state the players can’t have anymore than an academic scholarship. As restricted student-athletes their athletic scholarship is devoid of other types of compensation , particularly monies gained from non -amateur athletics, and namely professional sports. Meanwhile the member colleges and the NCAA earn billions of dollars off of these non-paid players. Their compensation policy is not easily defendable when you consider the wealth that is being generated

from the toil of these young women and men. The under lying issue is structural where the governing body and the colleges are unable to defend their policy in light of the economics of non-paid student athletics. A revenue generating system where coaches are paid millions of dollars and the NCAA is recognized as major league economics. Telling a player that she or he has to make a decision, 11


â€œâ€Śmake money or go to collegeâ€? is difficult to comprehend. In fact, no other college student has to make that kind of decision. Change is slow to come, but thank goodness for two things. First, players have the option of leaving school early, make their money in the professional ranks and then return to college to finish getting their degree at some point in their career. And thank goodness players can get a monthly stipend now that the NCAA has changed the rules to a certain degree. The stipends help close the gap between scholarship money and what it actually costs to attend school. The stipends range from about $2,000 to $5,000 annually, and to their credit some schools are reportedly offering a few thousand more, but this reform still does not fully address the entire situation. Families and friends of the athletes are begging for more Danielle Hammond '16 signed her National Letter change. For some of Intent to play basketball at NCAA I Virginia Commonwealth University people change means providing more compensation to the players where they have greater access to the income they generate for the colleges, and for some people change means taking them out of legal jeopardy of legal prosecution for accepting gifts from third parties. Rather than have a change in federal law, the change needs to come 12


from the NCAA and their member rule-making bodies. These rules violations should not be elevated to the privy of the FBI and the US Justice Department simply because by law the schools are federally funded. The families simply want changes in the NCAA rules so the decisions young women and young men are making are not criminal, won’t ruin their future prospects, and will not jeopardize their hard earned amateur status. Outside of these rules, there is no other student except a student athlete that is placed in this position. They are held hostage. The student athlete is disrespected, and told how much money they can make for themselves and their families. The question begs, “haven’t we all known about this sort of thing since 1905 when the NCAA was founded”? Now all of a sudden other powerful people are using their political cache to make these infractions into headlines for themselves and their own political careers. Fair compensation should be a basketball league and college sports issue. This is America. The methods have changed over the decades, but the means are the same… money. The stakes are much higher now than ever before. Coaches make upwards of $8M a game, players fly around in private plans to get to the games, colleges have doubled their enroll13


ments, giving rise to simultaneously increasing the size of their campus facilities. By extension they are using the athletes to serve their purpose while they using big-time college sports to advance their institutional footprint. In fact, the rules are set-up to be broken when the need on the part of the players and their families is so great. Nobody can live within the NCAA rules without breaking them‌it is near impossible. Who doesn’t sell their game tickets for some extra cash? From players to administrators, everyone is doing something. These recruiting scandals and ethics violation are hurting these athletes and their families while the money from campus facilities, the sneaker companies and the broadcast networks; $16 billion dollar multi-year deals with the networks for the right to broadcast March Madness less the conference deals and the regular season deals, continue to grow along with merchandising. The money deals keep getting bigger and bigger. Check USA Today Sports listings on how much coaches make in college sports. In football offensive coaches are making $2M a year to hold a clipboard. Basically, there should in a better way to share in this gigantic pile of money. Less the corruption charges, no FBI investigation will get in the way of that kind of gigantic success. This is America. A free market does what it does.▥

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Mat9.29 WALK IN EXCELLENCY: IN ROYALT Y: ACCORDING TO YOUR FAITH BE IT DONE UNTO YOU. Gal6:7 Whatsoever a man soweth that shall he also reap (Run to Him: press into your Lord and Savior. Are your hearts engaged.: are you doing things together? Do not remain isolated: do you believe I am able to do this? (Mat9:28). Gal6:8 He that soweth to his flesh shall of the flesh reap corruption (They were scattered abroad as sheep having no shepherd (Mat9:36). Steadily rely on Him: when things feel overwhelming it is the time to come to Him for help. Begin to follow Him with all your heart. If I may touch His garment I shall be whole (Mat9:21). judgment seat of Christ (How exciting will this day be knowing your union

Mat7:21 YOU SAY YOU ARE POOR BUT I SAY YOU ARE RICH: DON'T TAKE RISKS: DO THE WILL OF MY FATHER Act17:28 In Him we live and move and have out being (First choose to fellowship with God. A good tree cannot bring forth evil fruit neither can a corrupt tree bring forth good fruit: by their fruits ye shall know them (Mat7:18 -20).. Mat6:33 Seek ye First the kingdom of God and His righteousness It's not to late. Repent and obey the Lord Ps37:4 Delight thyself in the Lord and He shall give thee the desires of thine heart (Ask and it shall be given you.. Seek and ye shall find: knock and it shall be opened unto you (Mat7:7). Lay up treasures in heaven (Mat7:20). Mat22:37 Thou shalt love the Lord thy God with all thy heart with all thy soul and with all thy mind: thou shalt love thy neighbor as thvself (What really matters is finishing: for One is your Father which is in heaven (Mat23:9) Mat24:42-44 ALWAYS BE READY: WATCH: MAKE SURE YOUR FIRE DOES NOT GO OUT. 1Cor6:19 Your body is the temple of the Holy Spirit which is in you (Face the challenge: therefore whosoever heareth these saying of mine and doeth them I will liken him unto a wise man which built his house upon a rock (Mat7:24) Ps126:5 Those that sow in tears shall reap in joy (Jesus called them and said what will ye that I shall do unto you? He touched their eyes and IMMEDIATELY their eyes received sight and they followed Him (Mat20:32). Ps23:4 For thou art with ME (Jesus came to save you and make you a WHOLE person: go ye out into the vineyard: why stand ye here all the day idle (Mat20:6). Do not live as a pauper: open wide your heart and obey Me.. Ps27:4 That I may dwell in the house of the Lord all the days of mv life to behold the beauty of the Lord and to inquire in His temple (He desires to transform and enrich your life but they made light of it (Mat22:5) Bringing dignity to the poor: eternal life to the lost. Love you,

Arthur & HIS SERVANTS 01/12/2018â–Ą 15


Link between 2018 and 1918 in America: A Re-Consideration By Arasa Close In today’s Southeastern economies, where many black people live and raise their families, our link with the year 1918 is in some academic circles, monumental and should be marked with importance. The World War I era (1914-1918) was a global moment of change. Any examination of culture and history in the Southern region often times serves as a living record of the economic forces behind our culture and history. I think a reconsideration of this link between 2018 and 1918 is warranted, and can offer a clearer understanding of the similarities which rest on today’s economic platform and perhaps on our future. Economically, by the end of WWI the South was struggling between the old ways and the new ways. The suspicions of innovation and change caused a ragged back and forth process of how business was to be done. During this time, as a nation we had at our finger tips the innovation to create modern killing machines, but tactically our military leaders were still using less efficient military formations that proved to be very successful in the 19th century, but in hindsight not so effective at saving lives. The inefficiencies even with new technology in the end cost millions of 16


dollars and lives lost in battle. However, during this period of innovation there was also little movement in the Southern states toward adapting technological breakthroughs. Understandably, for everything you’ve heard about the South and its customs, there was also this ever present and constant pulling back as well among black families. Because the population was still mostly rural this period of inefficiencies in the South offers us several very important explanations to the suspicious attitudes and uneasiness with change. Just like now in 2018, the pace of change back then was like a constant rainfall overwhelming the population. Even with technological breakthroughs existing elsewhere, there still remained these large numbers of black people who economically were barely able to sustain themselves. Early 20th century was a period of flux and uncertainty, where productivity gains were high with the inclusion of technology, but Southerners still year-afteryear were not seeing themselves as doing any better economically. The question then was the same as the question now. …how are the lagging individual economies going to cope in parallel with the change?” The South was still wondering where investments are being made, and how they were going to cope with this invasion of outside phenomena. Back then it was automation, electrification, the telephone, automo biles….all this and more had to be handled in a rational and adaptive way? If we look back the world is barely recognizable by today’s standards. For most of modernity Britain was the great economic financier and military superpower throughout the world. Great Britain’s 17


interests had invested in cotton plantations in Egypt and India, resulting in an oversupply of the commodity. Cotton prices dropped well below the levels enjoyed in the 1850s. Nonetheless, after WWI America became the economic and military gold standard. In the post-war South the lack of cheap credit was changing how business was being done. In part, deficient access to financing set the stage for some of the fundamental changes in the South during The Great Migration (1916-1970) years. During this period black farmers who left the South and moved to the North, Midwest and West-

ern states witnessed the exploding technological and economic change that was mostly nonexistent in the South. The core of the South’s economic system before the Civil War and after Reconstruc18


tion had been mostly back breaking agriculture. The breakdown of the rural economic system after slavery ended played havoc on the South’s social order as well. The impact of this deluge of change which was mostly led by dramatic drops in global commodity markets, plunges the price of finished agricultural products and raises the price of raw materials, all of which had an enormous impact on

the individual economics of Southerners‌both poor and wealthy alike. During the first two decades of the twentieth century, falling prices were like a case of whiplash, where an over-planted farming industry was vulnerable to massive swings in global commodity prices, therefore impacting migratory trends both in America and elsewhere. This of course, along with deficient access to finances, set-off the migratory movement of an estimated 6 million AfricanAmericans who leave the rural south for the urban Northeast, the 19


productive Midwest, and the cattle ranching and mineralrich Western states. For example, after the Civil War upwards of billions of dollars in human capital just vanishes in the South. That capital was financing the southern economy, where the growing of cotton, and the associated human collateral provided the labor. As a result the South is capital starved well into what we refer to now as President Theodore Roosevelt’s New Deal era of the 1940s. Banking is scarce, railroads changed things, and our national banking system had been reorganized, leaving once productive land as worthless because nobody knows if there is any labor to farm the land. Also, something called a crop lien is created, where you mortgage your crop; but not just any crop, it had to be a cash crop like cotton, and not sweet potatoes or something of lesser value. The output had to be a crop that was immediately convertible into cash. For both black and white farmers alike that was the only way to get credit, as a secured collateral based loan. There was no more human capital to use as collateral. This begins the breakdown of self-sufficiency in the South. Prior to the Civil War, economic control and self-sufficiency were the underlying basis of a highly successful Southern economy. You could plant your land as you saw fit, and sustain yourself more readily, and still produce a marketable product with the abundance of free slave labor. All of a sudden the credit and mercantile business arrives from the northern states, and becomes the pivotal institution who was the primary supplier of goods, typically at a much cheaper wholesale prices per unit with the expansion railroad shipping. The new mercantile class had to borrow the money to buy supplies, and in turn 20


charged the farmer interest on credit as well as a higher price for merchandise bought on such credit. Another catch was the monetary currency of choice was “Greenback� US dollars, which became as scarce as free labor. The end result was farmers of all strips and size were for the first time in the long history of Southern culture, gradually losing their self-sufficiency. They are now forced to purchase the things they had previously been able to provide for themselves. Much higher interest rates had evolved where unplanted crops and indeterminable values became the norm. People are foreclosed-on, the number of tenant farmers sky rocket, farm size shrink as much as in half in some places as agriculture farming continues on a much smaller scale, and farming for profit was replaced by farming just for the sake of survival was now the norm. Culture and history where roughed individualism, a sense of independence and what was left of their self-sufficiency, had fractured. The psychological blow was enormous for whites in general. In the rural South crushing upwards of 60% of white farmers are the new tenant farmers, while black farmers are still understandably well represented as the majority of the sharecroppers by the end of the 1870s Reconstruction period. This shows how quickly things can turn bad when there is diminished opportunity and ac21


cess to capital. However, by the 1880s in the South a new highly available labor force is abundant. Off the farms come the unskilled white laborers who can by now make more money not planting the farm. Here again the individual economics lags behind the maturity of innovation and change, but In the decades following the Civil War, the America emerges as an industrial giant. Old industries expanded and many new ones, including petroleum refining, steel manufacturing, and electrical power, became prominent. Names like Carnegie, Duke, Harriman, Rockefeller, Stanford, and Vanderbilt eventually become household names. Railroads expanded significantly, bringing even remote parts of America into a national market economy. The industrial age in the South begins to shift the farmer into the beginning of a new industrial textile class that works for lower wages than his northern counterpart. There are many well documented stories that underscore how Southerners attempt to acclimate themselves to an ever present federal government who is now looking into their personal business. They are realizing they need the help of the government to make things better, but they have a sense that government intervention is unwarranted in their personal lives 22


when it comes to race and class. The value of textile production doubled in South Carolina alone between 1916 and 1918 from $168 million to $336 million on scale. All due to the resurgence of cotton globally as a highly valued cash crop once again. Even the tenant farmers were benefitting from global events in the world by this period. Coming forward 2018 is like a case of whiplash striking again, but in reverse. The economy is booming again and good stuff is happening. As I mentioned the push and pull of our 2018 economy, with its cultural attitudes and pulling back of change, with its noteworthy similarities to 1918, is also exploding with innovation and technological breakthroughs of all kinds. But now that massive migration of people is returning to the South. The ramp-up in 1918 was just the inverse, a massive migration of people to the north in the two decades that opened the 20th Century when World War I cuts off the supply of immigrants coming into America to fill factory jobs in the northern states. Scores of black farmers from states like North Carolina left the South during this important period in culture and history. It’s fair to say the economic context of re-considering the past continues to further explain more than ever how our economics are linked with yesterday, and today’s future.▥ 23


CHILDISH GAMBINO (DONALD GLOVER) SUMMER TOUR Friday 13 July 2018 – Saturday 14 July 2018 Lovebox 2018 Childish Gambino, Diplo, Wu-Tang Clan, Bonobo, SZA, N.E.R.D., Anderson .Paak, and Blackbear London, UK Wednesday 26 September 2018 Rae Sremmurd and Childish Gambino The Forum, Inglewood, CA, US

BEEP Music: Rising Startups

Saturday 08 September 2018 Rae Sremmurd and Childish Gambino United Center, Chicago, IL, US NNEKA EGBUNA SUMMER TOUR Friday 01 June 2018 – Saturday 02 June 2018 Elbjazz Festival 2018 Hamburg, Germany

Saturday 14 July 2018 Nneka with D'Angelo, Gary Clark Jr., and 3 others Grande Halle De La Villette - Nef Nord, Paris, France Saturday 14 July 2018 – Sunday 15 July 2018 Nneka AFROPUNK Festival 2018 Parc de la Villette, Paris, France

JADEN SMITH SUMMER TOUR Friday 11 May 2018 – Sunday 13 May 2018 Jaden Smith Rolling Loud Festival 2018 Hard Rock Stadium, Miami, FL, US www.blackenterprise.com/entrepreneurssummit

Sunday 27 May 2018 Jaden Smith Soundset 2018 Minnesota State Fairgrounds, St. Paul, MN, US Saturday 25 August 2018 – Sunday 26 August 2018 AFROPUNK Festival 2018 Line-up: Miguel, Tyler, The Creator, Erykah Badu, Janelle Monáe, Twin Shadow, The Internet, Yuna, Daniel Caesar, Willow Smith, Jaden Smith, and more…Commodore Barry Park, Brooklyn, NY, US 24


[IN MEMORIAM]

Nomzamo Winifred ZanyiweMandela (1936—2018) Known as Winnie Mandela, was a South African antiapartheid activist and politician, and the ex-wife of Nelson Mandela 25


[IN MEMORIAM]

Lerone Bennett (1928 - 2018) Editor, writer, author, scholar, and social historian 26


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