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Supplier Portal, an online communication tool designed to enhance the relationship between AEG and our partners. The portal is an online and paperless tool that will provide you with: Increased visibility for AEG business opportunities Extended Company Profile in online directory Direct email updates from AEG clients and buyers Easy accounts payable information sharing Increased exposure for MBEs, WBEs, and DBEs It is important that you register your business so that we have the ability to contact you for participation in future opportunities. Suppliers seeking to initiate business with AEG are encouraged to register as well. Registration is simple and we invite you to visit our Supplier Portal at your earliest convenience:
Publisher’s Message Earl “Skip” Cooper, II
s the world looks ahead with anticipation toward the 30th Summer Olympic Games in London this month, we cannot help but be aware that the world-class athletes who will come together will compete with others who are the best on the planet. That said, we should be mindful that particularly in the truly global economy of today, that same staging is how business is conducted today: on a worldwide basis. We will look at the sportsmen and women with admiration and respect for their deep senses of dedication as they have honed their skills, much as each of us should strive to be the best we can be in our business environments. The Black Business Association (BBA) is pleased to present its 9th Annual Procurement Exchange Summit, in recognition of National MED Week. Scheduled for Thursday, October 11, 2012 at the Omni Hotel in downtown Los Angeles, the Summit will feature workshops on various topics of interest to serious entrepreneurs, oneon-one matchmaking appointments with procurement personnel, and a dynamic awards luncheon. This year’s sponsors include Wells Fargo, Southern California Edison, Chevron, US Bank, Verizon and Comerica Bank. As co-chairs of the event, the BBA is proud to have California State Senator Curren D. Price, Jr., California State Assemblyman Steven Bradford, California Public Utilities Commissioner Timothy A. Simon and Los Angeles City Council President Herb J. Wesson, Jr. The reality of Olympic competition is that everyone cannot come away from the games winning gold; however, everyone can push and strive to do their utmost. The same is true in business: as
an entrepreneur, you might not win that golden contract or opportunity this time, but you will still come away a winner for having made the attempt. Along those lines, take a look at the article here in this issue on how President Barack Obama is encouraging innovation and entrepreneurship (page 10). We appreciate and follow his lead, because that attitude is key to succeeding in business today. Another article on the innovative method of gaining access to capital, known as Crowdfunding (page 46), may also be just what you need tune into right now to spur your enterprise’s progress. A third motivating piece in this issue applauds the success of Beyonce and Tina Knowles (page 42) in the fashion industry, and acknowledges the accomplishments of actress Ja’net DuBois (page 36), funny men Arsenio Hall and Steve Harvey, and entertainer LaToya Jackson as well (page 35). The California Black Chamber of Commerce (CBCC) will hold its 17th Annual Ron Brown Business and Economic Summit, August 9-11, 2012 at the Double Tree by Hilton Hotel in San Diego, California. This year’s theme, “Your High Speed Ticket to Success”, will be the foundation for
networking and information sharing at the highest level, as the CBCC again brings together the Golden State’s boldest and brightest African American business minds. The conference will also offer some great entertainment highlights as well, so be sure to plan on attending a genuinely worthwhile event. Last but not least, be sure to check out the Black Business Association’s “Upcoming Events” (page 6) listing included here in this issue of the Black Business News. So much is going on that you won’t want to miss out on, and from which you can find benefit to your business development efforts. Be sure to take note of the special Commemorative Edition (page 34) of the Black Business News, to be published October 2012, wherein we will pay tribute to the first term of President Barack Obama. We invite you to submit your advertisements for inclusion in an issue that will reach literally thousands of readers in business and government, across the nation and around the world. Thank you for your readership of the Black Business News (www. blackbusinessnews.net), and we look forward to your continued support.
3 August 2012 Black Business News www.blackbbusinessnews.net
About the Black Business News… The mission of The Black Business News is to inspire and inform public and private sector industry representatives on the importance of smart small business growth. As a versatile source of socioeconomic development activity, the Black Business News imparts current local, national and international industry trends related to small businesses across the United States of America (USA), detailing greater access to financial capital, management efficiencies, business education, mentors and networks. The goals of the Black Business News include: •
increasing the use of business enterprises owned by USA-based blacks, by advocating for greater access to leading finance lenders and successful business managers. working to merge resources, values, profits, technology throughout the public and private sectors.
balancing major public and private sector contracting methods with positive outcomes of black-owned and operated enterprises.
providing an affirmative influence for emerg-ing entrepreneurs sharing innovative design n and creative cultural content that exposes them to the history of black enterprises and excite them to participate in the USA’s future.
advocating and promoting on behalf of black-owned businesses by promoting the need for expanding an economic foundation that supports an unfettered and self-sustained urban society with USA job creation and economic opportunity, where blacks work, live and operate viable business enterprises.
Black Business News P.O. Box 43159, Los Angeles, CA 90043 323-291-9334 Fax: 323-298-5064
PUBLISHER/EDITOR-IN-CHIEF Earl “Skip” Cooper, II
ASSOCIATE EDITOR La Sandra Stratton
ENTREPRENEUR EDITOR Kim Anthony
ENTERTAINMENT EDITOR Belinda Foster
PRODUCTION MANAGER Narishima Osei
CONTRIBUTING WRITERS LaSandra Stratton • Dean Jones • Linda Ware
GRAPHIC DESIGN Sarah Harris • Phallu Morgan
STORY EDITORS Wanda Flagg ▪ Jennifer Marie Hamilton
PHOTOGRAPHY Ian Foxx ▪ Sabir • Narishima Osei
CONTENT ADMINISTRATOR La Sandra Stratton
LAYOUT/TYPESETTING Lion Communications Copyright © 2012 by Black Business News All Rights Reserved. The posting of stories, commentaries, reports, documents and links (embedded or otherwise) on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such posted material or parts therein.
AWARDS U.S. Small Business Administration (SBA)
2007 Journalist of the Year Award LA/Minority Business Opportunity Center (LA/MBOC)
2010 Media Firm of the Year 4 August 2012 Black Business News www.blackbbusinessnews.net
FEATURES… August 2012
GOVERNMENT… 10 13 17 18 1 26 2
Education Outcomes for African Americans Travel and Tourism Creating Jobs SBA Helping Veterans Become Entrepreneurs White House Encouraging Innovation Editorial: AB 32 Right and Wrong
Entertainment… E 35 3
New Shows Featuring African Americans Coming to TV this Fall
Ja’Net DuBois, Movin’ On Up
BUSINESS… 4 42 4 46 54 5
Knowles Duo Head House of Dereon Crowdfunding: All You Need to Know to Suceed USA Goes to Mars
PUBLIC INTEREST/COMMUNITY… 75 77 79 82
HIV Treatment Breakthrough Let’s Move, Hold Your Own Fun Day Meetup Operation Hope Launches America 2020 Predictive Analytics Use Increasing Nationwide
INTERNATIONAL… COLUMNS 67 - Take A Look! 104 - Books to Consider... 109 - Calendar ACTION ALERTS 2 - AEG Supplier Portal SPONSORS 06 - Black Business Association
87 Ghana’s President Mills Dies Unexpectedly 95 Nigerian Offers Low-cost Tablet Computer 100 FOCAC V Report
Cover image - Phallu Morgan
5 August 2012 Black Business News www.blackbbusinessnews.net
profits, technology and people; •
Promoting development and support of minority business enterprises within the domestic and international economies by encouraging and generating greater access to market opportunities and capital;
Providing training for entrepreneurial professional development;
Supporting and contributing to the economic base and progress of the African-American community; and
Developing coalitions that support our political endeavors to effectively achieve public recognition and political influence for African-American business owners.
Over 40 years of service Founded 1970
About the BBA…
Since 1970, the Black Business Association (BBA), a 501(c) (3) non-profit organization, headquartered in Los Angeles, has been instrumental in the incubation and development of more than 15,000 African-American businesses. Nationally, we have access and influence with more than 85,000 African-American-owned and women/minority-owned firms via strategic alliances with more than 100 women/minority trade associations in more than 42 states nationwide.
___ Our Mission ___ The Black Business Association’s mission is to advocate and promote the development of African-American owned businesses with the goal of creating a firm economic base that support the self-determination and survival of the African-American and urban community by: •
Identifying and creating financial opportunities for the growth and stability of African-American owned businesses;
Being a community voice that advocates for the success of small businesses;
Being a conduit for the merging of resources, values,
___ Advocacy ___ The Black Business Association maintains very effective working relationships with elected and appointed officials for the support of African-American business development. Locally, statewide and in Washington, DC, we are constantly aware of pending legislation that might affect our member’s businesses, their growth and even their ability to conduct business. When legislation is being considered that affects our mission, the BBA quickly mobilizes to work with key policy makers to support, defeat or modify the bill and pursue the BBA position. As an organization, we are constantly at the helm, securing innovative means and policies that protect our constituency and their business interests.
Upcoming 2012 Events October 11, 2012 Procurement Exchange Summit & Luncheon Black Business Association P.O. Box 43159, Los Angeles, CA 90043 USA Tel: 323-291-9334 Fax: 323-857-4610
• Call 323-291-9334 for information on sponsorship and participation •
firstname.lastname@example.org www.bbala.org www.facebook.com 7 August 2012 Black Business News www.blackbbusinessnews.net
Choose to care. Choose to celebrate. Choose to dream. At Comerica Bank, we choose to care about the dreams and visions of Dr. Martin Luther King, Jr. We choose to celebrate equality and diversity among all people, and we’re dedicated to ringing the bells of freedom. Choose to celebrate the dream with us.
Crenshaw 3825 Crenshaw Boulevard Los Angeles
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Wilshire-Crescent Heights 6301 Wilshire Boulevard Los Angeles
Member FDIC. Equal Opportunity Lender.
8 August 2012 Black Business News www.blackbbusinessnews.net
President Barack Obama signs the White House Initiative on Educational Excellence for African Americans Executive Order in the Oval Office, July 26, 2012. Standing behind the President, from left, are: Patricia Coulter, CEO National Urban League of Philadelphia; Rep. Danny Davis, D- Ill.; Reverend Al Sharpton; Dr. Freeman Hrabowski, President of University of Maryland, Baltimore County; Secretary of Education Arne Duncan; Benjamin Jealous, President of the NAACP; Ingrid Saunders- Jones, Chair of the National Council of Negro Women; Rep. Chaka Fattah, D-Pa.; Kaya Henderson, Chancellor of DC Public Schools; and Michael Lomax, President of the United Negro College Fund. (Official White House Photo by Pete Souza)
President Obama Creates Initiative to Improve Educational Outcomes for African Americans
uring his remarks at the National Urban League conference in New Orleans, President Obama announced an Executive Order to improve outcomes and advance educational opportunities for African Americans. On Thursday, he signed that Executive Order surrounded by some of the key leaders who have been at forefront of promoting those priorities. The President has made it a top priority to provide a complete and competitive education for all Americans
– from cradle to career. The White House Initiative on Educational Excellence for African Americans, created by this Executive Order, will work across Federal agencies and with partners and communities nationwide to produce a more effective continuum of education programs for African American students. The initiative aims to ensure that all African American students receive an education that fully prepares them for high school graduation, college completion, and productive careers.
In the nearly 60 years since the Brown v. Board of Education decision put America on a path toward equal educational opportunity, America’s educational system has undergone a remarkable transformation. Many African American children who attended substandard, segregated schools in the 1950s have grown up to see their children attend integrated and effective elementary and secondary schools, colleges, and universities. Nonetheless, substantial obstacles see Educational Outcomes on page 11
10 August 2012 Black Business News www.blackbbusinessnews.net
Educational Outcomes from page 10
to equal educational opportunity still remain in America’s school systems. Disproportionately, students of color, including African Americans, lag in equal access to highly effective teachers and principals, safe schools, and challenging college-preparatory classes. And they experience school discipline and referrals to special education at higher rates than their peers. Improving the educational outcomes of African Americans will provide substantial benefits for our country, like increasing college completion rates, employment rates, and the number of African American teachers. So, through this Executive Order, President Obama is taking an important step to promote a more promising future for all Americans.
Advancing Educational Achievement of African American Students
serve large numbers of African American students, including community colleges, HBCUs, Predominantly Black Institutions (PBIs), and other institutions; and • Improving the quality of, and expanding access to, adult education, literacy, and career and technical education.
The Presidential Advisory Commission and Federal Interagency Working Group The Executive Order also creates the President’s Advisory Commission on Educational Excellence for African Americans, to aid and advise the work of the Initiative. The Commission will advise President Obama and Education Secretary Arne Duncan on matters pertaining to the educational attainment of the African American community, including the development, implementation, and coordination of resources aimed at improving educational opportunities and outcomes for African Americans of all ages. The Commission will also engage the philanthropic, business, nonprofit, and education communities in a national dialogue on African American student achievement, and work with the Initiative to establish partnerships with stakeholders from these sectors to achieve the objectives of this Executive Order. The Executive Order also establishes a Federal Interagency Working Group on Educational Excellence for African Americans. The Working Group will be chaired by the Initiative’s Executive Director, and will convene senior officials from the Executive Office of the President and several Cabinet and sub-Cabinet agencies to coordinate the Federal investment in education programs and initiatives aimed at enhancing outcomes for African Americans in early childhood education; elementary, secondary, and postsecondary education; career and technical education; and adult education. www.whitehouse.gov/the-pressoffice/2012/07/26/president-obamasigns-new-initiative-improve-educationaloutcomes-africa
11 August 2012 Black Business News www.blackbbusinessnews.net
The President has set the goal for America to have the highest proportion of college graduates in the world by 2020. To reach this ambitious goal, and to ensure equality of access and opportunity in education for all Americans, the Obama Administration is dedicating new resources, through rigorous and well-rounded academic and support services, to enable African American students to improve their educational achievement and prepare for college and career. The White House Initiative on Educational Excellence for African Americans, housed within the U.S. Department of Education, will work with the Executive Office of the President and Cabinet agencies to identify evidence-based best practices to improve African American student achievement in school and college, and to develop a national network of individuals, organizations, and communities that will share and implement these practices. It will also help ensure that Federal programs and initiatives administered by the
Department of Education and other Federal agencies maintain a focus on serving and meeting the educational needs of African Americans. The Initiative will complement the existing White House Initiative that strengthens the nation’s Historically Black Colleges and Universities (HBCUs) by working with Federal agencies and partners nationwide to provide all African American students with a more effective continuum of education programs. To deliver a complete and competitive education for all African Americans, the Initiative will promote, encourage, and undertake efforts designed to meet several objectives, including: • Increasing the percentage of African American children who enter kindergarten ready for success by improving access to high-quality early learning and development programs; • Ensuring that all African American students have access to highlevel, rigorous course work and support services that will prepare them for college, a career, and civic participation; • Providing African American students with equitable access to effective teachers and principals in pursuit of a high-quality education, and supporting efforts to improve the recruitment, preparation, development, and retention of successful African American teachers and principals; • Promoting a positive school climate that does not rely on methods that result in disparate use of disciplinary tools, and decreasing the disproportionate number of referrals to special education by addressing root causes of the referrals; • Reducing the dropout rate of African American students and increasing the proportion of African American students who graduate from high school prepared for college and career; • Increasing college access, college persistence, and college attainment for African American students; • Strengthening the capacity of institutions of higher education that
resident Barack Obama and Vice President Joe Biden pose with the full Cabinet for an official group photo in the Grand Foyer of the White House, July 26, 2012. Seated, from left, are: Transportation Secretary Ray LaHood, Acting Commerce Secretary Rebecca Blank, U.S. Permanent Representative to the United Nations Susan Rice, and Agriculture Secretary Tom Vilsack. Standing in the second row, from left, are: Education Secretary Arne Duncan, Attorney General Eric H. Holder, Jr., Labor Secretary Hilda L. Solis, Treasury Secretary Timothy F. Geithner, Chief of Staff Jack Lew, Secretary of State Hillary Rodham Clinton, Defense Secretary Leon Panetta,
Veterans Affairs Secretary Eric K. Shinseki, Homeland Security Secretary Janet Napolitano, and U.S. Trade Representative Ron Kirk. Standing in the third row, from left, are: Housing and Urban Development Secretary Shaun Donovan, Energy Secretary Steven Chu, Health and Human Services Secretary Kathleen Sebelius, Interior Secretary Ken Salazar, Environmental Protection Agency Administrator Lisa P. Jackson, Office of Management and Budget Acting Director Jeffrey D. Zients, Council of Economic Advisers Chair Alan Krueger, and Small Business Administrator Karen G. Mills. Official White House Photo by Chuck Kennedy
12 August 2012 Black Business News www.blackbbusinessnews.net
Travel and Tourism Industry Vital to Job Creation
National Travel & Tourism Strategy Task Force on Travel & Competitiveness
2012 by strengthening public-private partnerships with the industry, which is the core of the new National Travel and Tourism Strategy (www.whitehouse. gov/blog/2012/05/10/nationaltravel-and-tourism-strategy-setsgoal-draw-100-million-internationalvisito). Already, we’ve reinvigorated the Tourism Policy Council – a Commerce-led team involving a dozen agencies that touch on travel and tourism. Also, the Trade and Tourism Advisory Board – involving many of the people at this Forum – has never been more active. In fact, they contributed many great ideas as we wrote the Strategy. For our part at the Department of Commerce, we’ve taken several concrete actions: • We have released data on international tourists via our travel dashboard that helps businesses and travelers with key decisions. • We are also moving forward to establish the National Travel and
Tourism Office at Commerce next year. This office will be coordinate travel and tourism issues across the federal government. • In addition, we’re working with industry leaders abroad who drive international travelers to the U.S. For example, this year we formed a VisitUSA Committee in India to build on the fact that Indian spending in the U.S. jumped 15% from 2010 to 2011. The Obama Administration’s number one priority remains strengthening our economy and creating jobs, and we will continue doing everything possible to make the U.S. welcoming to visitors to support even more American jobs. Increasing travel and tourism to the U.S. is an important way for us to expand our commercial ties and ensure balanced trade growth in services as well as goods. www.whitehouse.gov/blog/2012/08/03/ travel-and-tourism-industry-vital-jobcreation
13 August 2012 Black Business News www.blackbbusinessnews.net
ebecca Blank, Acting Secretary of Commerce, joined Secretary of the Interior Ken Salazar for a dialogue with leaders within the travel and tourism industry at the White House Business Council American Economic Competitiveness Forum. We held a very useful discussion about how the Administration can continue to help support travel and tourism and the millions of jobs associated with the industry. Travel and tourism has been a particularly bright spot in our economic growth over the past two years. Secretary Blank recently announced that 2012 will likely be another record year for international travel to the U.S. In fact, in May 2012 international travel to the U.S. reached nearly $14 billion – up 8% from May 2011. That caps 29 straight months of growth. Ken Salazar, Many people do Secretary of the Interior not realize that international travel to the U.S. counts as an export, since foreign citizens purchase U.S. goods and services when they travel here. Hence, the travel and tourism industry has been a critical factor in the Rebecca Blank, increase of export- Acting Secretary supported jobs, of Commerce which have grown by 1.2 million from 2009-2011. We can build on this momentum
Minority Enterprise Development Week Conference - 30th Anniversary
he National Minority Enterprise Development (MED) Week Conference is the Nation’s premier event for minority entrepreneurs and the public and private sectors. The MED Week Conference offers a venue for minority-owned firms to access information, tools and resources to grow their businesses both domestically and internationally. Each year, thousands of minorityowned firms across a variety of industries converge upon Washington, DC to connect with public and private sector buyers, explore avenues for business expansion, and develop thriving partnerships with firms across multiple industry sectors. This is done through networking
events, workshops and issue forums, ms, including: • Business-to-business matchmaking sessions with ith corporate procurement officials and nd capital providers; • Global networking events with th embassy officials from Latin n America, Asia, Africa and the e Middle East; • The MED Week Awards Program m honoring some of the fastestt growing minority-owned firms, entrepreneurs and advocates in the country. Download Awards Brochure (www. medweek.gov/sites/default/files/ AwardsProgram.pdf).
Date Sept. 25-27, 2012 Venue Omni Shoreham Ho te 2500 Calvert Stree l t NW at Connecticut Ave Washington, DC 20 008 Phone: (202) 234-0 700
15 August 2012 Black Business News www.blackbbusinessnews.net bbu busi sine ness ssne news ws.n .net et
How Can Organizations Participate? > Employers > Financial institutions > Non-profits and governments > Educators and Youth Organizations > Military > Media
How Can Individuals Participate? > Assess your savings progress > Join America Saves > Test your savings knowledge > Take action to save more effectively > View savings messages > Read saver stories
What is America Saves Week? About America Saves Week Our Purpose Participating Organizations America Saves Week 2011 America Saves Week 2010 America Saves Week 2009
www.TheArtofBidding.com is dedicated to the art and science of moving goods and services to market. This web site is useful to business managers responsible for their companies’ supply chain activities. This information is sponsored by the Southland Partnership Corporation that serves a wide range of supply chain management issues for large and small enterprises. Southland is in place to enhance supplier inclusion through the increased flow of goods and services by providing current information from initial sourcing all the way through to delivery to public and private sector end-users. Southland shares vital information of purchasing opportunities from production planning, order processing and fulfillment, inventory management, transportation, distribution, and professional service requirements. For some, this information on proposal estimating will be a refresher on how to submit an effective pricing plan, however, for other companies this may be just the information to create that winning response. All buyers seek to make the best investment when selecting outside resources. The supplier selection results from demonstrating efficiencies and generating the highest level of customer satisfaction at the most responsible lowest cost. In general all major buying entities look at the strategic, tactical, and operational functions of prospective suppliers. 16 August 2012 Black Business News www.blackbbusinessnews.net
he U.S. Small Business Administration (SBA) has joined with the Department of Veterans Affairs (VA) and the Department of Defense (DoD) to launch a training program for transitioning service members and veterans to help them become entrepreneurs and create jobs. Operation Boots to Business: From Service to Startup is a national initiative that will be piloted with the
U.S. Marine Corps. The announcement was made recently by U.S. Small Business Administrator Karen Mills and U.S. Marine Corps representatives at Quantico, VA. “Our service men and women have made incalculable contributions and sacrifices for our country, and supporting them as they pursue their dreams to start or grow their own business is one of our highest priorities,” SBA Administrator Karen Mills said. “Through this partnership, we stand ready with support, entrepreneurial training, and resources that are critical tools to help them start businesses, drive economic growth and create jobs for themselves and their communities.” Entrepreneurship and small business
ownership are valuable opportunities for transitioning service members and veterans. Each year, more than 250,000 service members transition out of the military. Transitioning veterans are natural entrepreneurs who possess the skills, experience and leadership to start businesses and create jobs. Veterans make up a large number of successful small business owners. Nine percent of small businesses are veteran-owned. These 2.45 million veteran-owned businesses employ more than 5 million individuals. In the private sector workforce, veterans are more likely than those with no activeduty military experience to be selfemployed. Operation Boots to Business: From Service to Startup will help support veterans as they grow businesses and create jobs by building on SBA’s role as a leader in entrepreneurship training. SBA will help connect veterans with its resource partner network – Small Business Development Centers (SBDCs), Women’s Business Centers (WBCs), SCORE, and Veterans Business Opportunity Centers (VBOCs) – for support throughout the life-cycle of their new businesses. Through its ongoing collaboration with Syracuse University’s Institute for Veterans and Military Families (IVMF), SBA also will provide comprehensive training materials specifically geared toward transitioning service members. SBA partners will coordinate training and services at military bases around the country, delivering a face-to-face introductory entrepreneurship course. In addition, an intensive eight-week
online business planning training will be provided by Syracuse University and its affiliated university partners for those service members who choose to continue to pursue entrepreneurship after the face-to-face introductory course. Following, service members and veterans will be referred to SBDCs, WBCs, SCORE chapters and VBOCs for counseling and training throughout the lifetime of their business. The program will pilot in four locations: Quantico, VA, Cherry Point, NC, Camp Pendleton, CA, and Twenty-Nine Palms, CA. It will be expanded across the nation during fiscal year 2013 with the goal of providing entrepreneurial training and awareness to transitioning service members from all branches of the military. For more information on Boots to Business training program, and on how to take part as a transitioning service member, please visit http://www.sba. gov/bootstobusiness. SBA currently engages veterans through its 68 local SBA district offices, 16 Veterans Business Outreach Centers nationwide, and its partnership with 1,000 Small Business Development Centers and some 12,000 SCORE – Counselors to America’s Small Businesses volunteers. Each year SBA helps more than 200,000 veterans, service-disabled veterans and reservists. To learn more about additional opportunities for veterans available through the SBA, please visit the website at www.sba.gov/vets. www.mbda.gov/pressroom/news-andannouncements/sba-launches-programhelp-transitioning-service-members-andveterans-become-entrepreneurs
17 August 2012 Black Business News www.blackbbusinessnews.net
Karen G. Mills, Administrator Small Business Administration
Minority Business Development Agency (MBDA) SBA Launches Program to Help Transitioning Service Members and Veterans Become Entrepreneurs
How President Obama Encourages Entrepreneurship and Innovation by Todd Park, Chief Technology Officer of the United States, www.uspto.gov/about/offices/cio/index.jsp
growth entrepreneurship, helping accelerate technology breakthroughs, and investing in the “building blocks” of innovation. This is by no means a comprehensive list of every Administration effort to foster innovation across the United States, but every example below is specific, impactful, and well underway.
Promoting High-growth Entrepreneurship Unlocking capital: This spring (2012) President Obama signed the Jumpstart Our Business Startups (JOBS) Act, a bipartisan bill that allows startups to raise capital from
investors more efficiently, among other initiatives, by allowing smalldollar crowdfunding investments, expanding mini-public offerings, and creating an “IPO on-ramp” consistent with investor protections. This is on top of an Administration commitment of $2 billion to match private investment in high-growth companies over the next five years through vehicles such as Impact Investment Funds (www. sba.gov/content/impact-investmentinitiative) and Early Stage Innovation Funds (www.sba.gov/sites/default/ files/files/EarlyStageWeb.pdf). The Small Business Investment Company) program just had a record
resident Obama’s efforts to fuel innovation and entrepreneurship are wide-ranging and unprecedented. As Chief Technology Officer of the United States (a position created for the first time by President Obama), I see these efforts first-hand throughout the Administration—and as an entrepreneur who cofounded a company at age 24 and took it public ten years later, I have a special appreciation for how startups and innovation create jobs and prosperity across the country. Let’s focus on three areas where the President’s leadership is making a huge impact: promoting high-
President Barack Obama signs the Jobs Act of 2012.
18 August 2012 Black Business News www.blackbbusinessnews.net
Entrepreneurship and Innovation from page 18
year in 2011 of helping over 1,000 businesses get $2.6 billion in capital. Nurturing entrepreneurial talent: President Obama has taken executive action to make it much easier for graduates to manage student loan debt (www.whitehouse. gov/blog/2012/06/07/income-basedrepayment-everything-you-need-know) and pursue an entrepreneurial path (www.whitehouse.gov/ b l o g / 2 0 11 / 1 0 / 2 6 / r e d u c i n g student-loan-burdens-america-sentrepreneurs). The Administration has launched new mentorship and training opportunities for thousands of entrepreneurs starting new highgrowth companies—including military veterans, undergraduate engineers, and clean energy entrepreneurs and students—and is engaged in sustained
efforts to attract and retain immigrant entrepreneurs who create jobs here in the US. Speeding up “lab to market” research: The President has directed all federal research agencies to help accelerate innovation by speeding up grants to startups. The National Science Foundation launched an Innovation Corps (www.nsf.gov/news/ special_reports/i-corps) to get teams of scientists out of the lab and starting new companies. Over twenty federal agencies have cooperated to fund regional entrepreneurial ecosystems
Helping Accelerate Technology Breakthroughs Biotechnology: The National Institutes of Health (NIH) has launched a new National Center for
Todd Park, Chief Technology Officer of the United States
Advancing Translational Sciences (NCATS - www.ncats.nih.gov) to speed up the development of new diagnostics, treatments, and cures by building new bridges between the lab and clinic. Nanotechnology: The National Nanotechnology Initiative (NNI http://nano.gov) is investing in areas such as nano-electronics, to foster a revolution in computing comparable to the transition from the vacuum tube to the transistor. Advanced manufacturing: President Obama launched the Advanced Manufacturing Partnership (AMP - http://manufacturing.gov/amp/amp. html), a national effort that brings together industry, universities, and the federal government to invest in the emerging technologies that create high-quality manufacturing jobs and enhance our global competitiveness (read the AMP Steering Committee report). As a first step in building a National Network for Manufacturing Innovation (http://manufacturing.gov/ amp/overview.html), the Administration is funding a pilot institute for additive manufacturing (3-D printing - http:// manufacturing.gov/amp/pilot-institute. html). The President has also launched a National Robotics Initiative (www. nsf.gov/funding/pgm_summ.jsp?pims_ id=503641&org=CISE) and a Materials Genome Initiative to help accelerate manufacturing innovation. Space exploration: Guided by the President’s National Space Policy (www.whitehouse.gov/the-press-office/ see Entrepreneurship & Innovation on page 21
19 August 2012 Black Business News www.blackbbusinessnews.net
(www.commerce.gov/blog/2011/09/29/ obama-administration-announces-12million-i6-green-investment-promoteclean-energy-i), and are dramatically streamlining patent licenses for entrepreneurs in clean energy and biotech. Liberating data to fuel innovation: The Administration has launched a series of Open Data Initiatives—in health, public safety, education, and energy—to stimulate entrepreneurial innovation using newly unleashed data from government and other sources. As a model, decades ago, the National Oceanic and Atmospheric Administration (www.noaa.gov) began making weather data available for free electronic download by anyone. Entrepreneurs utilized these data to create weather newscasts, websites, mobile applications, insurance, and much more. Today, entrepreneurs are using freely available government data (www.data.gov) and building apps and services that help Americans in an expanding number of ways – e.g., apps and services that help people find the right health care provider for their family, identify the college that provides the best value for their money, save money on electricity bills through smarter shopping, keep their families safe by knowing which products have been recalled, and much, much more. The Startup America Partnership: In response to the President’s call to action to support American entrepreneurs, the nonprofit Startup America Partnership (www.s.co) has mobilized well over $1 billion in private-sector commitments to help support startups and has launched entrepreneur-led coalitions in Startup Regions across the country.
STIMULATING OUR ECONOMY... WELCOMING TOURISTS & CONVENTIONS... CREATING JOBS FOR OUR WORKERS...
Entrepreneurship and Innovation from page 19
fact-sheet-national-space-policy), NASA, the Department of Defense, and other agencies are advancing U.S. capabilities and expanding American industry’s role in developing nextgeneration applications—including the historic docking of the SpaceX Dragon (www.whitehouse.gov/ blog/2012/05/25/dragon-spacecrafthas-berthed-international-spacestation) spacecraft with the International Space Station. Health care technology: Building
Investing in “Building Blocks” of innovation Research and development: The market innovations that drive economic progress so often depend on breakthroughs in fundamental science. President Obama has implemented the largest increase in federally funded research and development (R&D) in history, and is making continuous investments to fuel “Big Data” research and double funding for key basic research agencies. Education: The President has led the charge to provide every K-12 student in America with a worldclass education, including the historic Race to the Top investments to drive comprehensive reform at the state and district levels. The Investing in Innovation (I3) fund supports school districts and nonprofit partners to develop, validate, and implement innovative evidence-based practices that accelerate student learning and achievement. And the President has doubled down on education in science, technology, engineering, and mathematics (STEM) by launching a STEM Master Teacher Corps along with public/private investments to scale up high-quality STEM programs, prepare 100,000 STEM teachers over the next decade, and graduate 10,000 more engineers every year. Internet: The President signed
legislation to invest $7 billion in broadband infrastructure, computers, and training for consumers and businesses nationwide, and has moved to dramatically expand highspeed wireless service for consumers and first responders through both direct executive action and legislation. Through the US Ignite partnership, the Administration has also laid the groundwork for next-generation ultra-fast broadband networks. And during the national debate over the Stop Online Piracy Act (SOPA) and related legislation, the Administration made clear that the important task of protecting intellectual property online must not threaten an open and innovative internet. Smart grid: To build a 21st century electric system, the President led the charge to make over $4.5 billion in smart grid investments for electricity delivery and energy reliability modernization, along with new smart grid initiatives to empower consumers, improve the reliability of the electric grid, and spur innovation. Patent system: President Obama signed the bipartisan America Invents Act after nearly a decade of efforts to reform the nation’s outdated patent laws. The new law is helping entrepreneurs and inventors avoid costly delays and unnecessary litigation so they can focus instead on innovation and growth. Again, this list is not comprehensive— for more details, check out the White House Startup America Initiative and the President’s Strategy for American Innovation. And I have barely touched on all the ways that President Obama has fostered massive innovation within government, from unprecedented use of prizes and challenges to the new Presidential Innovation Fellows program that pairs top innovators from outside and inside government to implement cutting-edge solutions for the American people. To stay up to date on President Obama’s innovation agenda, you can follow me on Twitter @todd_park and @whitehouseostp. www.whitehouse.gov/blog/2012/07/31/ quora-response-fueling-innovation-andentrepreneurship
21 August 2012 Black Business News www.blackbbusinessnews.net
on the Recovery Act and the Affordable Care Act, the Administration is continuously engaged in major efforts to promote health information technology adoption, reform payment incentives to reward value instead of volume, and liberate health information for the benefit of patients while protecting privacy. Educational technologies: To advance technologies that will transform teaching and learning, the President launched the Digital Promise partnership and championed a new Advanced Research Projects Agency for Education (ARPA-ED). Clean energy: The Administration is
working to accelerate game-changing energy breakthroughs by funding the Advanced Research Projects Agency – Energy (ARPA-E) and d Energy Innovation Hubs, while pursuing 21st century grand challenges like SunShot (making solar energy cost-competitive with fossil fuels) and EV Everywhere (making electric vehicles as affordable and convenient to own and drive as today’s gasoline-powered vehicles).
New “Shopping Sheet” Will Make It Easier for Students to “Know Before They Owe” by Cecilia Muñoz is the Director of the White House Domestic Policy Council
lmost every day, President Obama gets letters from students who are swimming in student loan debt, and every week it seems we see another newspaper article about how the cost of college is becoming prohibitively expensive for too many American families. We know that college remains an excellent investment. Increasingly however, it is a financed investment, with the monthly loan payments to prove it. And, while we don’t want would-be students to be scared away from going to college because of the price, we aren’t doing students any favors by obscuring the reality of this commitment until after they’ve graduated. While this Administration continues to do everything we can to make sure that college remains affordable and available to families in the middle class and those aspiring to the middle class, we also are focused on making it easier for families to understand the costs and benefits of higher education up-front, so that they can more easily choose a college that is both high-quality and affordable. That’s why the Administration today released the final version of the Financial Aid Shopping Sheet—an individualized standard financial aid award letter that will help students and families understand the costs of college before making the final decision on where to
enroll. The Shopping Sheet is the culmination of a joint effort between the Consumer Financial Protection
Bureau and the Department of Education to provide individuals with
23 August 2012 Black Business News www.blackbbusinessnews.net
see Shopping Sheet on page 25
more than a million students across the country, committed to provide important financial information on cost, financial aid options, estimated monthly payments, and student outcomes to all of their incoming students. And today, Secretary Duncan sent an open letter to colleges across the country, encouraging them to follow this example and adopt the Shopping Sheet for next school year. As the parent of one college student, with another who will be applying to college this year, I have learned that we all have something to contribute to make sure that college remains affordable and accessible. The Obama Administration is making sure the federal government is doing its part by expanding Pell Grants and the American Opportunity Tax Credit, and by proposing innovative new reforms. President Obama has called on States to do their part by ensuring that education is a priority in their budgets. And while the Administration works with leaders of colleges and universities to make sure that they do their part in keeping costs manageable, students and parents can also do their part by becoming informed consumers when they make college decisions. As a parent, I will be grateful that the Shopping Sheet will provide my family with a clear and useful tool to help us – and millions more like us -- assess our children’s college choices. Editor’s Note: You can read more about the Shopping Sheet in a post on the official blog of U.S. Department of Education (www.ed.gov/blog/2012/07/ unraveling-the-mystery-of-collegecosts).
25 August 2012 Black Business News www.blackbbusinessnews.net
As President Obama has said, students must “know before they owe” and be empowered with the facts to from page 23 accurately compare the true costs of college from one institution to another critical information about their financial before making a decision. While every decision to attend college in a clear, college is unique, there are a few concise, and standardized format that key pieces of information that every facilitates easy comparisons across college provides -- or should provide -- to its students. The goal of this institutions. Shopping Sheet is to make sure this information is available in a clear and consistent format to ensure that students understand their financial responsibilities in a layout that makes sense to them, and in a manner that allows for easy comparisons across schools. Today’s announcement builds on the Obama Administration’s continued commitment to address the growing cost of college. Last year, the President convened leading college presidents from around the nation to discuss innovative solutions and proposals to keep costs down while maintaining quality in higher education. In January, President Obama emphasized the responsibility shared by the federal government, states, colleges, and universities to rein in college costs, and outlined a comprehensive proposal to ensure that we make progress. He also launched what was ultimately a successful effort to spur Congressional action in time to prevent the interest rates on federal student loans from doubling by July of this year. Just recently, in June, Vice President Biden and Education Secretary Arne Duncan called on all college presidents to provide greater transparency in college costs in financial aid information, and several key An example of the easy-to-read information on institutions, representing the Shopping Sheet
Hold on to Your Checkbook AB 32 Regulations are about to Kick In Editorial
by Earl “Skip” Cooper, II, Publisher/Editor-In-Chief, Black Business News
asten your seat belfs. California’s rocky economic ride is about to get even bumpier, thanks to the impending onset of new global warming regulations that are goint to hit small businesses smack in the checkbook. The Black Business Association (BBA) has been actively engaged in monitoring the progress of rules being developed by the California Air Resources Board (CARB) to reduce carbon emissions under AB 32, the state’s gobal warming law, not only for the purpose of figuring out what those regulations will cost but also to keep an eye out for opportunities for the minority small business community. Now those rules are moving from the planning stage to actually taking effect, and it’s looking more and more like the costs are going to far outweigh the opportunities. Think your fuel costs are too high already? Guess again. A new study by
the Boston Consulting Group took a look at the combined financial impact of CARB’s most ambitious policies, like the low carbon fuel standard and the cap and trade auction, and found those rules could add $250 or even more to the cost of manufacturing a gallon of gas. And three of the state’s largest utilities have warned the Public utilities Commission that even if 100% of cap and trade auction revenues were returned to ratepayers, those rebates would fall far short of the $32 billion that program and others are expected to cost. Some have suggeted that since most small businesses are not energyintensive they won’t be affected by all this. Clearly they haven’t thought this through. Anyone who operates a small business like a printer, florist, maintenance company, restaurant or just about anything else knows that
when fuel and utilities go up, the cost of everything goes up. That means not just a higher electric bill or higher tab at the pump, but higher prices for supplies and shipping as well. Boston Consulting also observed that these AB 32 regulations could cause half of the state’s refineries to close down. And that’s just one industry. We’re already seeing companies from other sectors, like manufacturing, computers and Internet services, move out of California or expand anywhere but here. They can afford to leave, but small businesses can’t. And when those big companies leave, they no longer need the services of our small businesses, so small businesses will suffer the most. On top of this, according to the folks at Boston Consulting, we’re looking at thousands of lost jobs, which also means less customers for our
26 August 2012 Black Business News www.blackbbusinessnews.net
see AB 32 Regulations on page 27
reducing worldwide global warming. The time to amend these regulations is now, before we lose any more businesses or jobs. California already has enough problems, starting with the state’s deficit, unfunded public employee pensions, and the worst regulatory climate in the country. Let’s not make it worse by going ahead with global warming regulations that won’t reduce anything but our small businesses’ changes of survival.
AB 32 Regulations
businesses. This could lead to a domino effect where, as our businesses shrink, so do our payrolls. Translation: more unemployed workers and even fewer customers. And despite promises of new green jobs and business opportunities, California still has the country’s third highest unemployment rate, with joblessness among Blacks and Hispanics a shocking 18.6% and 13.5% respectively. But what about global warming? The BBA has always been supportive of doing something about climate change, but even CARB has acknowledged that California acting alone can’t do anything to reduce global warming. And Boston Consulting has observed that AB 32 could actually cause an increase in carbon emissions as production moves elsewhere. In our book “doing something” should not mean higher overhead for small businesses, higher energy prices and lost jobs without 27 August 2012 Black Business News www.blackbbusinessnews.net
from page 26
USDOC Export Regulations Seminar Los Angeles August 8-9, 2012 The Bureau of Industry and Security, in cooperation with the Southern California Regional District Export Council, and the U.S. Commercial Service in Southern California, invites you to attend a workshop on the Export Administration Regulations and Export Management Compliance Program. This program is well suited for those who need a comprehensive understanding of their obligations under the Export Administration Regulations (“EAR”). The workshop will explain: • The scope of the Export Administration Regulations. • How to determine the export licensing requirements for your product. • When you may export without applying for a license. • What an Export Management Compliance Program (“EMCP”) is, and how it can help meet your regulatory responsibilities. • What the Enhanced Proliferation Control Initiative is, and how it affects you. Dates/Time: Aug. 8 – 9, 2012 8:30 am - 4:00 pm Registration/Continental Breakfast 7:30 - 8:30 am Cost: $450 for both days includes continental breakfast, lunch and training materials. Location: Sheraton Gateway Hotel Los Angeles 6101 W. Century Blvd., Los Angeles, California 90045 **Registered attendees will be able receive a preferred rate of $119 per night. Preferred rate ends July 24, 2012.
REGISTRATION: www.regonline.com/bis2012la Questions? For more information on the topics covered, please call BIS Western Regional Office at (949) 660-0144 and for arrangement or registration, please call the Irvine U.S. Export Assistance Center at (949) 660-1688. NOTE:The Western Regional Office of the Department of Commerce, Bureau of Industry and Security is a State Bar of California approved MCLE provider. This course is worth 12 hours of MCLE credit. However 0 hours will apply to legal ethics/law practice management; prevention, detection and treatment of substance abuse and emotional distress; and elimination of bias. Americans with Disabilities Act: If special arrangements are required for a disabled individual to attend any of these programs, please notify the contact person at least one week prior to the program.
29 August 2012 Black Business News www.blackbbusinessnews.net
Mayme A. Clayton Library & Museum in association with Foxx Media Group presents
Rescue at Pine Ridge / Part One Based on the novel by Erich Hicks “Historic Rescue of the 7th Cavalry by America’s Unsung Heroes, the Buffalo Soldiers”
“We Can; We Will” What: When: Who: Director: Location: Telephone: Time: RSVP:
“Rescue at Pine Ridge” Celebrity Stage Reading August 2, 2012 Keith David, Richard Gant, Brent Jennings Ian Foxx Mayme A. Clayton Library & Museum 4130 Overland Avenue, Culver City, California 90230 310-202-1647 7:00 p.m. 818-760–9948
To donate to support this project, please visit “Rescue at Pine Ridge” on KICKSTARTER.COM
Call for Submissions from Pan African Film Festival emailing email@example.com or calling 310-337-4737.
hose three words are the mantra of This is My Vote. They represent the most effective way to fight back against voter suppression and to make your voice heard in November. Over and over again we see the impact lawmakers can have on our lives. By registering to cast your ballot and educating yourself on the requirements for voting, you can have the effect on our country that proponents of these these laws are seeking to prevent. Registering to vote takes only 5 minutes. Head to the This is My Vote site, fill out your application, and mail it in today:
http://action.naacp.org/ voter-registration I know you’ve heard it before but I will keep on saying it: There is strength in numbers. We proved this in Sanford, Florida, and I’ve seen it proven all over the United States in the 100+ campaigns I’ve worked on. I know what can be achieved if our nationwide effort to register voters is successful: Elections will be swung, civil rights and social justice will take their rightful place on the policy agenda, and voter suppression laws will be rendered useless. Don’t overestimate the time it takes to register to vote. It only takes 5 minutes, the same amount of time it takes to send our registration link to your family and friends if you’re already registered. Together, we can have a monumental impact. Register to vote, or send our link to your family and friends: http://action.naacp.org/voterregistration Thank you, Marvin Randolph Senior Vice President for Campaigns NAACP - www.naacp.org
33 August 2012 Black Business News www.blackbbusinessnews.net
The PAFF is currently accepting applications for films and videos made by and/or about people of African descent. (Please note: the filmmaker(s) need not be of African Ayuko Babu, or African American PAFF Executive descent.) Films should Director preferably depict positive and realistic images and he Pan African Film Festival can be of any genre -- drama, comedy, (PAFF) is ready to take movie horror, adventure, animation, romance, goers on a cinematic journey science fiction, experimental, etc. with international film screenings from PAFF accepts features and shorts around the globe with the announcement both narrative and documentary. The of its call for submissions. The 21st film festival will accept submissions of annual PAFF will be held on February works in progress; however, the final 7-18, 2013 in Los Angeles. The film version of the film must be completed festival is the nation’s largest and most no later than January 5, 2013. prestigious Black film festival. Over the years, it has showcased films from COMPETITION: The PAFF competition categories all parts of the world, representing such countries as Angola, Austria, are: Best Narrative Feature, Best England, Bermuda, Canada, Egypt, Narrative Short, Best Documentary, Ethiopia, Brazil, Kenya, Mexico, South Best Director -- First Feature, plus, Africa, Nigeria, and of course, the Audience Favorite Awards for Narrative United States. With the pulse on the Feature and Favorite Documentary. international film market, PAFF has Films in competition must be opened the minds of its audiences, and copyrighted no earlier than 2012. With transported them to lands far away and the exception of Audience Favorite back home again. “Over the years, the Awards, all films are judged by industry filmmakers from around the world have professionals, selected by PAFF. In become more sophisticated in telling addition to competition awards, other their stories,” says Asantewa Olatunji, programming and festival special prizes will be awarded. the director of programming for PAFF. Last year, more than 40,000 folks SUBMISSION: attended the festival. “This is certainly For information about the festival, proof that Black audiences will respond submission procedures, fees and to good stories and positive depictions registration, visit www.paff.org or call of ourselves on the big screen,” added 310-337-4737. Submissions will be Olatunji. accepted from July 2, 2012 through Currently, PAFF is accepting October 15, 2012. Late submissions submissions of independent features, will be accepted until November 21, shorts, narratives and documentary 2012. Official selection announcements films made by or about people of African will be made beginning December 15, descent. Applications are available via 2012. the PAFF website at www.paff.org, by
Registration and Education
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Popular Stars Arsenio Hall, Steve Harvey, La Toya Jackson Each Announce New TV Series Deals by Linda Ware several hit film blockbusters creating unforgettable roles such as “Semmi” in the hit, Coming to America, alongside comedian, Eddie Murphy. Hall Is set to go into production on his new late night show during the fall season of 2012 with a power deal penned in writing with CBS Network, where the show will be introduced on 17 stations owned by Tribune Co., including television outlets in New York, Los Angeles and Chicago. The one hour talk show will air at 10pm or 11pm on CBS as well as on Tribune affiliates that will include Fox and CW. Oprah Winfrey and La Toya Jackson, have shaken hands to bring viewers a new exciting reality series.
top comedian and Family Feud game show host, Steve Harvey, to a new
Oprah Winfrey Oprah’s OWN network has signed the King of Pop’s sister, La Toya Jackson, on to officially launch her very own reality show, “Life With La Toya”, set to go into production for a 2013 debut on OWN. “Life with La Toya” will show MJ’s sister in her daily life showing how she juggles the many demands of her famous family, friends, and her growing entertainment company and career. NBC Television Network announced their elation over signing
These new shows join the growing array of shows featuring African Americans. Cable channels owned by African Americans include: The Africa Channel, OWN, TV ONE, and ASPIRE. Support these shows and channels by viewing when shown or OnDemand. Everytime you make a selection you are voting for them to stay on the airwaves.
35 August 2012 Black Business News www.blackbbusinessnews.net
TV series, self-titled, “Steve Harvey”. The one hour daily show will debut on daytime television with Harvey discussing relationships bringing his sense of humor to topics that include dating, friendship, marriage, and work relationships. Steve Harvey and his business partner, Rushion McDonald, will serve as executive producers.
rsenio Hall is on a roll with recently being crowned by Donald Trump as the winner of the Celebrity Apprentice. As reality TV can spill over into a celebrity’s real life, Arsenio continues his momentum returning to the late night airwaves at the helm of his new syndicated talk show set to air on CBS Network. Arsenio’s comedy career took off when he was spotted as a top talent at the Hollywood C o m e d y Store. From that point on, Hall took on late night television with a successful talk show that received rave reviews and high Nielson ratings. In addition, La Toya A r s e n i o Jackson starred in
Good Times Star, Ja’Net DuBois, Upclose and Personal Story About “Movin’ On Up” in the Hollywood Scene by Linda Ware
he starred as the popular lovable neighbor of Florida Evans as the legendary character of Willona Woods in the hit CBS television series, “Good Times”. She starred as Redd Foxx’ high school crush, Juanita, on the hit comedy series, “Sanford and Son”. She is by far one of America’s most celebrated actresses with some of the most memorable, signature character roles that she has brought to life in top television sitcoms to date. She is legendary television and film actress, Ja’net DuBois. Although America is familiar with her resume of popular television roles, American television fans were not privy to one of her most outstanding accomplishments in her career... Notably the fact that she is the mystery singer/songwriter behind one of the top songs to have hit the television airwaves. Ja’net has surpassed some of the top artists in the music industry… a fete accomplished with one song... a song that America and the world embraced and continues to cherish throughout the decades. A song that we first heard on the debut of the hit CBS series, “The Jeffersons”. “We’re movin on up to the eastside”…is by far the most popular lyric and song in television history. The song caught on like wildfire from its debut and moved up from being the signature song of the Jeffersons to one that was sung across the board in households throughout the United States and the world. “Movin on Up” is the hit classic television theme song that Ja’net penned. Moreso, she is the singer who everyone was trying guess the identity of, the vocalist with the power vocals filled with emotion, strength, and conviction at the top of every episode timeslot of the Jeffersons. Little did she know that after writing the song and recording it that it would soon
become the most popular theme song in the history of television sitcoms. In essence, the song became an American National Anthem of hope for the people of America from all walks of life, a song where families and individuals could envision “movin up” in their economic status, homes and overall status of living. A song that dared us to dream of a better life. The song was fitting and proper for the storyline of the Jeffersons, starring Sherman Hemsley and Isabel Sanford. George and Weezy
represented the successful African American couple who moved out of the projects and into a gorgeous abode one that most Americans at the time of the series debut could only dream of; and Ja’ net DuBois masterfully and humbly was given the assignment to write and sing about it ultimately solidifying a major accomplishment in her career as a bonafide hit singer/songwriter. Yet, with all of the success of the song she had yet to be given accolades and recognition for this incredible musical see Fashion Designers on page 37
Ja’Net DuBois Upclose from page 36
creation until now. In a recent interview with Black Business News magazine, Ja’net Dubois shared her poignant story of the making of the song, “Movin on Up”, and how it all came into fruition. Her
male performers step on stage. He sang, dance, told jokes faster than a seasoned comic, and basically stole the show to the delight of the pleased crowd in attendance. The performer she learned later was actor, Sherman Hemsley. Watching him perform, she knew within her heart and spirit that he was going to make it big someday. Ja’net was having a conversation
story began with her role on GOOD TIMES. She was absolutely content with her role as Willona, the happy go lucky friend of Florida Evans, on the series. Her role became even more prominent and beloved as America soon saw our Willona step into the role of a loving mother with her adoption of Penny, played by Janet Jackson. With the success of her role on GOOD TIMES, Ja’ net became one of the most successful African American television sitcom actresses of the time. Yet within her spirit, she felt that there was more she had to give. While on a theater outing, she took in a musical theater show and was absolutely riveted with excitement after watching one of the show’s
with her producer Norman Lear on one occasion and she asked him about what other projects he was working on. It was at that time that Norman Lear shared with Ja’net about a new sitcom series he had put together. She asked if she could submit a song for his new show. He said,”OK”, with a big grin and she said,” I’ll bring it in after the three day weekend”. Then he left. After accepting the challenge to write a theme song she was excited beyond words. Ja’net sat down at her piano with a pen and yellow pad and began writing some words for the pitch song. Ja’net began to reflect about a conversation that she and her mother had about her career and the future; and it was at that moment that
37 August 2012 Black Business News www.blackbbusinessnews.net
Good Times cast (clockwise) Ja’Net DuBois, Bern Nadette Stanis, John Amos, Jimmy Walker, Esther Rolle and Ralph Carter.
Ja’net felt chills that something was happening that she was blessed to be a part of. Ja’net immediately contacted her mother and told her about the opportunity to write the song for the new series. Her mother knew that Ja’net could sing like none other. Her mom shared with her the conversation they had before Ja’net entered the industry about the fact that one day she (Ja’net) was going to move her up to the east side. Ja’net’s close relationship with her mother stemmed from a strong mother daughter bond and a deep faith based foundation. Her mother believed in Ja’net with the belief of a loving mother as no one can describe in an article. From that love and belief, the words flowed naturally in a conversation between mother and daughter, the most popular conversation that has ever occurred in the history of America. A conversation that drove Ja’net to play a melody that gave birth to the words of America’s favorite television theme song, “Movin On Up”. “It was nothing but God that brought that song to life… the words to that song. It’s personal because of my mother and I spoke about how she knew that God was going to move things in my life to break open doors in show business and…sharing with me in her loving voice and spirit that I was going to make it and that when I do, I was going to move her up to the east side. I had no idea that the song was going to be used for a new show starring Sherman Hemsley, the same man who I saw perform and who I was a fan of. God is amazing”, says Ja’net. Without a doubt, the lyrics of Movin on Up are not just the lyrics of a sitcom theme song; they are the faith based words of the dialogue between a strong loving mother daughter relationship... one specifically of Ja’net DuBois and her mom that will forever stand as one of America’s most beloved theme songs and more importantly and poignantly, now revealed as their personal dialogue shared with the world. The song has a purpose that is timeless and profound...from mother to daughter to inspire Ja’net and as for today, to inspire anyone who hears it. Ja’net believes “it was God who used “Movin On Up” as a message of hope and love to all mankind.
Aubrey Stone, CBCC Chairman
MC Townsend, Chair, Council of Chambers
Celebrating the Legacy of Sherman Hemesley Star of CBS Hit Series “The Jeffersons” by Linda Ware
Sherman Hemsley’s acting career was unique in the unparalleled selection
herman Hemsley starred as the unforgettable “George Jefferson” on the hit CBS television series “All in the Family”. Audiences across America cheered as George and his wife, Weezy, transitioned from struggling financially to getting a break and were suddenly “movin on up to the eastside” with their own CBS series entitled “The Jeffersons”. The song, “Movin On Up” was written by Television Actress, Janet Du Bois, and well known for her role of Willona on “Good Times”. The theme song just as popular as did the new series spinoff. Janet shared with us in an exclusive interview “ I was in New York and I went to see a show called “Pearly”. This man could sing, dance, act...he could throw lines at you...I said WO this man is incredible. I found out his name was Sherman Hemsley. When I got back home, I wrote a theme song called “Movin On UP” for Norman Lear... I never dreamed it was for the theme song for the show starring that same terrific actor who I just saw in New York. Sherman Hemsley”.
of outstanding character roles including the unforgettable Deacon Ernest Frye on the NBC Series, “Amen”, guest
spots on “The Fresh Prince of BelAir” and other notable projects.
39 August 2012 Black Business News www.blackbbusinessnews.net
40 August 2012 Black Business News www.blackbbusinessnews.net
Black Enterprise/Pepsi Golf & Tennis Challenge! For more information, call (800) 209-7229 or REGISTER now at www.blackenterprise.com/gt. Take advantage of our special discount pricing: COUPLES PACKAGE (SAVE $100!) - Two (2) people registering at the same time, using the same credit card will receive a $50 registration rate discount per person. (This offer does not include the Social Package.) GROUP PACKAGE (SAVE $400!) Four (4) or more people registering at the same time, using the same credit card, will receive a $100 registration rate discount per person. (This offer does not include the Social Package.)
Mother-Daughter Fashion Designer Duo: Beyonce and Tina Knowles By Linda Ware
eyonce is recognized as one of the top female artists of the decade selling over 75 million records worldwide in her career so far. One of the music industry’s top female entertainers, Beyonce has picked up 16 Grammy Awards, 11 MTV Music Video Awards, 3 American Music Awards, and a prestigious Billboard Millenium Award. She is one of the few artists to have been presented a star on the Hollywood Walk of Fame in the early stages of her career. In addition to her stellar music career, she has found success as an innovative entrepreneur in the fashion industry with her mother, Tina Knowles. The successful motherdaughter duo launched their very own fashion company, The House of Dereon (www. houseofdereon.com),
providing creative elegant fashion for ready to wear as well as evening apparel. The mother-daughter duo picked the name House of Dereon to honor Beyonce’s grandmother, Agnes Dereon Beyince. The company’s
42 August 2012 Black Business News www.blackbbusinessnews.net
see Fashion Designers on page 43
from page 42
branding phrase, “Couture. Kick. Soul”, represents all three women of excellence. Agnez Dereon Beyince is the Soul. Tina Knowles is the couture. Beyonce is the kick. The whole idea behind the fashion line came through the creative energies between the mother-daughter team during Beyonce’s initial launch as a musical artist in the entertainment industry. Through her innate abilities to create fashion, Tina designed and sewed custom dresses and gowns for Beyonce to wear in her concerts and
red carpet appearances during the inception of her career. Tina’s gift in creating fashion wear was strongly nurtured from her exposure to her mother Agnez and her unparalleled gifts to look at a piece of fabric and create a stunning fashion piece. While her mother Agnez grew up in Abbeville, Lousisiana, the family discovered her innate genius at fashion design as she became a self-taught seamstress creating tailored dresses and gowns decorated with gorgeous embroidery, lace, beads and jeweled buttons. Her designs were sought after by a large clientele in Louisiana. Fast forward to 2012, her gifts in
43 August 2012 Black Business News www.blackbbusinessnews.net
fashion continue through the next generation through the vision of Tina and Beyonce as they continue to present new fabulous fashion wear through their very own House of Dereon. The mother daughter duo introduced a colorful, elegant Spring/Summer fashion line that is innovative in that the clothing pieces can be worn throughout all 4 seasons with accessories and other complimentary pieces. They are currently preparing to launch next season’s line which is anticipated to put smiles on the faces of fashion editors and ladies around the world with their signature designer flavors of femininity, elegance, power, and fashion all in one. Beyonce and Tina Knowles. Entrepreneurial Women of Excellence of Fashion..
GRANTS.GOV LISTINGS The following grant opportunity postings may be found on the Grants.gov Find Opportunities service: DOS Department of State Bureau of South and Central Asian Affairs U.S. Embassy Islamabad PAS Grants Program, Modification 8 www07.grants.gov/search/search. do?&mode=VIEW&oppId=114273
USAID Agency for International Development Afghanistan USAID-Kabul Public Private Innovative Development Initiative, Modification 3 www07.grants.gov/search/search. do?&mode=VIEW&oppId=129593 USAID Agency for International Development Kazakhstan USAID-Almaty Development Through Regional Cooperation, Modification 5 www07.grants.gov/search/search. do?&mode=VIEW&oppId=172393 DOT Department of Transportation DOT/Office of Small & Disadvantaged Utilization Notice of Funding Availability for the Small Business Transportation Resource Center Program, Modification 3 www07.grants.gov/search/search. do?&mode=VIEW&oppId=177273 HHS Department of Health and Human Services Centers for Disease Control and Prevention Immunization and Vaccines for Children Program, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178334 DOI Department of the Interior Fish and Wildlife Service
Assessing Management Needs to Enhance Recovery for the Eastern Massasauga, year four Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178353 HHS Department of Health and Human Services National Institutes of Health Population Architecture Using Genomics and Epidemiology (PAGE), Phase II Study Investigators (U01), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178354 HHS Department of Health and Human Services National Institutes of Health Population Architecture Using Genomics and Epidemiology (PAGE), Phase II, Coordinating Center (U01), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178355 HHS Department of Health and Human Services Centers for Disease Control and Prevention Cooperative Agreement for the Development, Operation, and Evaluation of an Entertainment Education Program, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178356 DOI Department of the Interior Bureau of Land Management BLM CA Lassen Land and Trails Trust LLTT Modoc Line, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178357 ED Department of Education Upward Bound Math and Science Program - CFDA 84.047M, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178373
ED Department of Education National Institute on Disability and Rehabilitation Research (NIDRR)-Disability and Rehabilitation Research Projects and Centers Program-RERCs--Recreational Technologies Exercise Physiology Benefiting Individuals Disabilities, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178393 NASA National Aeronautics and Space Administration NASA Headquarters E.2 Leading Edge Aeronautics Research for NASA (LEARN), Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178394 ED Department of Education National Institute on Disability and Rehabilitation Research (NIDRR)-Disability Rehabilitation Research Projects and Centers Program-Disability, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178413 USDOT Department of the Treasury Community Development Financial Institutions FY 2012 Bank Enterprise Award Program, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178433 DOI Department of the Interior Fish and Wildlife Service University of California, Davis Species Project, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178453 NASA National Aeronautics and Space Administration NASA Headquarters COMMUNITY ANNOUNCEMENT ON ASTROPHYSICS EXPLORER MISSIONS OF OPPORTUNITY, Grant
44 August 2012 Black Business News www.blackbbusinessnews.net
GRANTS.GOV LISTINGS from page 44
www07.grants.gov/search/search. do?&mode=VIEW&oppId=178473 DOI Department of the Interior Bureau of Land Management BLM NV Nevada Ecological Site Descriptions State and Transition Models Development, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178474 DOI Department of the Interior National Park Service Estimating grizzly bear use of large ungulate carcasses with GPS telemetry data, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178493
DOI Department of the Interior National Park Service Developing Chesapeake Youth Corps Network, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178496 DOI Department of the Interior Bureau of Land Management BLM WY 2012 Challenge Cost Share Program, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178497 DOI Department of the Interior National Park Service Signage and Related Interpretive Media Along the Star-Spangled Banner National Historic Trail in Metro DC, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178513
DOI Department of the Interior National Park Service War of 1812 in Southern Maryland: Traveling Exhibit and Traveling Trunks, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178515 DOI Department of the Interior National Park Service Assisting in Development of Potomac River Segment of the Captain John Smith Chesapeake and Star-Spangled Banner National Historic Trails, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178516 DOI Department of the Interior National Park Service Interns CLI/LCS, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178517 DOI Department of the Interior National Park Service Development of LandScope Chesapeake, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178533
Irrigation Water Delivery Metering Project, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178573 DOI Department of the Interior Fish and Wildlife Service Regional Mark Processing, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178574 DOI Department of the Interior National Park Service Technology Enhanced Interpretation Development, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178593 DOS Department of State Bureau of Near Eastern Affairs Middle East Partnership Initiative Tomorrow’s Leaders Scholarship, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178594 DOI Department of the Interior Fish and Wildlife Service DURHAM DAM, Modification 1 www07.grants.gov/search/search. do?&mode=VIEW&oppId=178613 DOI Department of the Interior Fish and Wildlife Service Chumstick Barrier Removal Phase 4, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178633
DOI Department of the Interior National Park Service Cooperative Agreement for the identification of sites and structures significant in Hispanic heritage, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178553 DOI Department of the Interior Bureau of Reclamation Bureau of Reclamation - Pacific Northwest Region
45 August 2012 Black Business News www.blackbbusinessnews.net
DOD Department of Defense Air Force Academy STEM Outreach to K-12 Schools in Southern Colorado, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178494
DOI Department of the Interior National Park Service Heritage Partnerships Program 3D Digital Documentation, Grant www07.grants.gov/search/search. do?&mode=VIEW&oppId=178514
The Promise of Crowdfunding for Social Enterprise
n early July 2012, the White House hosted a briefing for the American Sustainable Business Council, a national network serving social enterprises from early-stage startups to established success stories, like Patagonia and Ben & Jerry’s. Senior White House staff took time to meet with chief executives and thought leaders, such as Seventh Generation founder Jeffrey Hollender and Stonyfield Farms pioneer Gary Hirshberg, to discuss many aspects of the President’s agenda to support overall economic growth, including the Impact Economy. As part of the conversation, the discussion focused on the Jumpstart Our Business Startups (JOBS) Act. The JOBS Act is a bipartisan bill signed by the President into law in April that will allow small businesses and startups to raise capital from investors more efficiently, leading to faster growth and hiring. One of the key features of the JOBS Act is to enable “crowdfunding” – letting companies raise up to $1 million in small increments from many investors. As the President said, this is “a potential game changer”: Right now, you can only turn to a limited group of investors -- including banks and wealthy individuals -- to get funding. Laws that are nearly eight decades old make it impossible for others to invest. But a lot has changed in 80 years, and it’s time our laws did as well. Because of this bill, start-ups and small business will now have access to a big, new pool of potential investors -- namely, the American people. For the first time, ordinary Americans will be able to go online and invest in entrepreneurs that they believe in. In many ways, nonprofits and social enterprises are already adept at raising money through crowdfunding – think of donation-based tools like Network for Good or zero-interest microfinance platforms like Kiva. What the JOBS Act
will do is allow micro-investors to purchase a stake in the venture. Many social enterprises already have benefited from donationbased crowdfunding platforms, and they are looking forward this new opportunity to attract impactminded investors. Two such companies guest-posted on the White House blog, and their founders attended the JOBS Act signing ceremony: Stockbox Grocers builds tiny grocery stores in urban “food deserts,” while LuminAID Lab manufactures solar-powered lights for disaster relief. Both companies stress the power of crowdfunding to connect social enterprises with their communities and customers. At a time when nonprofits are struggling for revenue, as charitable donations have slowed and government budgets are tight, the social sector needs to find new strategies to attract resources. The Obama Administration has taken some important steps toward this end, developing policies and programs to unlock capital and to increase investment. For example, the Administration launched the Social Innovation Fund to provide growth capital to high impact nonprofits. In two years, it has catalyzed nearly $400 million toward communities’ solutions. The U.S. Treasury Department recently updated the example Program Related Investments, providing guidance that should facilitate the flow of impact investing from foundations and philanthropists to support businesses and nonprofits pursuing charitable purposes. Building on this momentum, crowdfunding offers tremendous promise. Some believe that it has the potential to revitalize underserved communities by improving access to capital for small businesses. As the leader of a major group representing Main Street microenterprises recently wrote, “Given the tremendous demand for credit among microbusinesses
and entrepreneurs, crowdfunding offers real promise for underserved business entrepreneurs and may allow the organizations that serve them the ability to reach even deeper into the entrepreneurial community.” To be clear, investment-based crowdfunding is not legal just yet. Congress required the Securities and Exchange Commission (SEC) to write new rules of the road for crowdfunding, which will be finalized in 2013. Some open questions include the following: • Any company raising money through crowdfunding must use an SECregulated intermediary. How should these intermediaries be required to educate investors, safeguard investor privacy, reduce the risk of fraud, and ensure other investor protections? • In any given year, investors are limited in the total amount they can invest across all crowdfunding investments (5% of annual income or net worth if less than $100,000, or 10% of annual income or net worth if greater than $100,000). How should intermediaries be required to verify that investors stay within these limits? • What disclosures should be required of the companies raising money through crowdfunding, above and beyond those spelled out by Congress? The SEC has invited members of the public to submit comments to inform their rulemaking. These comments could include considerations unique to social enterprises, along with those investors willing to trade some financial return for greater social or environmental benefits.
46 August 2012 Black Business News www.blackbbusinessnews.net
Crowdfunding: Four Changes in the Next Generation
rowdfunding began as a social experiment and has been validated by thousands of consumers in a short period of time. New data suggests that this type of funding has facilitated more than $1.5 billion in global business transactions. Crowdfunding is known as an individual contribution for non-monetary benefits. In spite of the recent success of websites like KickStarter, most Internet platforms were designed as places to discover odd products. Now, they are seen as capital formation entities that help entrepreneurs bring new products to the market.
rowdfunding is asking a crowd of people to donate a defined amount of money for a specific cause, project in exchange for various rewards. There are three general categories crowdfunding can fall under: Equity, Donation, and Debt. • Equity-based crowdfunding is asking a crowd to donate to your business or project in exchange for equity. • Donation-based crowdfunding is asking a crowd to donate to your project in exchange for tangible, non-monetary, rewards such as an ecard, t-shirt, pre-released CD, or the finished product. • Debt-based crowdfunding is asking a crowd to donate to your business or business project in exchange for financial return and/or interest at a future date.
a continuous feedback loop. 3. Creativity and inspiration will be supported by organizations and individuals. Community support will continue to pour into crowdfunding and will compete with individual contributions. Donors.org highlights this trend. The site has recently shifted its focus from individual to corporate clientele. 4. Benefits-based funding will enhance equity-based approaches. Both platforms address distinct areas, and they can mutually coexist. The community-based platforms will ultimately serve as a vessel for investors and entrepreneurs. It does not matter if you are a consumer or supplier, crowdfunding is sure to be influential in the future.
The Good • Crowdfunding is useful for a variety of opportunities, whether fundingraising for disaster-releif, creative projects, creating a salable product, or creating a start-up. • Crowdfunding platforms allow you to market your project, generate interest, and recieve funds. • Crowdfunding backers can provide useful feedback about your project. • Once you get a sollid base of support, there is no limit to the amount of projects you can fund.
The Bad • Crowdfunding your project exposes your ideas protential copycats. • Crowdfunding platforms may limit the amount of funds you can recieve. • Crowdfunding regulations and taxation can be difficult to work with.
The Excellent • Crowdfunding is not limited to certain kind of project , there is no discrimination! Only great ideas! • Crowdfunding can be fast, efficient, and effective if done right.. • There can be little risk involved compared to other business ventures • The more creativity and fun you have, the more likely you’ll get funded.
Kim Anthony is a crowdfunding coach, consultant and author of “Crowdfund Your Dreams: The Definitive Guide to Raising Seed Capital Through Crowdfunding.” She is also the producer of Crowdfund L.A. Summit and founder of UrbanAngelFunding.com, the first and only crowdfunding platform that is specifically dedicated to serving communities of color. For more information call 310-7736140.
47 August 2012 Black Business News www.blackbbusinessnews.net
Here are four ways that the funding will continue to change: 1. Vertical platforms are slowly emerging and will start to focus on select segments. This phenomenon has already been seen in the boutique stores that cater to mobile apps, gaming, film, science and photojournalists. Specialized platforms are most likely to thrive in the fertile conditions that have an obvious funding gap. Some sites are even devoted to aiding small towns in the disaster recovery process. 2. The platforms will evolve into full-service sites. Engaging individual users on a personal basis will continue to foster the development of sites and encourage expansion. This effort is already in place on sites like KickStarter and IndieGogo. Both sites focus on the user experience and offer a variety of resources that enable
Crowdfunding: The Good. The Bad. The Excellent.
Minority-Owned Businesses Come Up Short in Access to Capital: It’s Time to Change the Equation for MBEs
starting a viable business is most feasible for high net-worth individuals. Whether invested directly into small businesses or used as collateral to obtain loans, high wealth levels make it easier to fund a startup. Again, entrepreneurially inclined AfricanAmericans and Latinos find themselves at a disadvantage as their wealth levels are generally lower than whites. Obtaining financing can be challenging for any young firm, but because minority-owned firms face additional obstacles, their chances of success can be compromised. Adequate capitalization provides young ventures a buffer against the liabilities of newness. As they establish administrative procedures, define their institutional identity, and gain credibility with customers and suppliers, startups with greater access to capital are better equipped to survive the learning process. Without such a buffer, poorly capitalized firms may not survive an unexpected shock and be forced to close before they become sustainable. Easing the credit constraints that impede MBEs must be a national priority. The payoffs are substantial and long-term for business owners, their employees, customers and the communities they serve. Bank small-business discriminatory lending practices coexist with laws prohibiting such discrimination, but the regulatory authorities charged with enforcing such laws at the national level have chosen not to act. The problem, as we see it, lies primarily in a lack of political will. Bank regulatory authorities and the U.S. Department of Justice must start enforcing the laws
http://papers.ssrn.com/sol3/papers. cfm?abstract_id=1989448 http://papers.ssrn.com/sol3/papers. cfm?abstract_id=1028775 http://www.mbda.gov/sites/default/ files/DisparitiesinCapitalAccessReport. pdf
49 August 2012 Black Business News www.blackbbusinessnews.net
n America, the land of opportunity, it’s increasingly clear that opportunities to acquire capital come more readily to some subsets of entrepreneurs than others. Limited access to financing restricts the ability of minority business enterprises (MBEs) to achieve viability, generate new jobs and, in general, fulfill their potential to contribute to the development of communities in which they operate. Based on our research, MBEs rely more heavily on financial institutions for loans than all other borrowing sources combined. However, when compared to white-owned firms, MBEs typically encounter higher borrowing costs, receive smaller loans and see their loan applications rejected more often. Black- and Latino-owned MBEs are the most likely to experience such negative results. Although lower owner net worth, credit ratings, firm age, size and other risk factors account for some of the differences in access to credit, studies consistently show that blackand Latino-owned firms with identical firm and owner traits (other than race) and credit histories gain less access to bank credit than matched white-owned firms. The borrowing challenges are compounded for MBEs operating in minority neighborhoods. Absent bank loans, the firms rely on consumer forms of credit – most often credit card balances – and informal sources that provide smaller loans at higher costs. Tightened credit market conditions since 2008 have further complicated the borrowing efforts of MBEs, weakening their growth and profitability potential. There’s no arguing the fact that
that are already on the books. Greater access to affordable loans from financial institutions would: • lower barriers to entry and expansion faced by MBEs, which are very costly to U.S. productivity, especially as minorities represent an increasing share of the total population; • enable MBE employers to strengthen their balance sheets, improve their credit ratings and lessen their reliance on more expensive forms of consumer credit like credit-card balances • equip cash-strapped MBEs to pay their bills in a timely manner, enhancing their credit ratings and, in turn, increasing their access both to bank loans and trade credit extended by suppliers; • force fewer firms out of business due to illiquidity; and • allow firms to capitalize on opportunities to expand and better compete for new clients. A financially stronger MBE community would experience faster growth and create new jobs. Since MBEs are geographically concentrated in minority neighborhoods and often cater to local shoppers, new jobs created would be filled largely by minority employees, extending the benefits into communities plagued by high unemployment and underemployment. Likewise, existing jobs would be preserved as expanded loan availability rescues MBEs from their liquidity problems. Finally, aspiring entrepreneurs who observe the improved access to financing may be encouraged to enter into business ownership at higher rates. The potential of today’s minority business community will be fully realized only when the capital access barriers are overcome. Only with a level playing field can entrepreneurs, regardless of race or ethnicity, compete fairly, based on the skills, ingenuity and resourcefulness they bring to the game.
How People Use Their Smartphones [Infographic]
Timothy Alan Simon, Advocate for Small Business Owners and Underserved Communities
ommissioner Timothy Alan Simon serves on the California Public Utilities Commission (CPUC). Commissioner Simon was appointed to the CPUC by the then Governor Arnold Schwarzenegger. As a one of five Commissioners, Commissioner Simon is responsible for regulating privately owned electric, natural gas, telecommunications, water, railroad, rail transit, and passenger transportation companies. He also serves the public interest by protecting consumers and ensuring the provision of safe, reliable utility service and infrastructure at reasonable rates, with a commitment to environmental enhancement and a healthy California economy. Commissioner Simon is committed to small business enterprises and General
Order 156 – the CPUC’s Supplier Diversity Programs for investor-owned utilities; and to the communities in which he serves. Because of his public service commitment, Commissioner Simon has netted numerous awards recognizing him for his leadership. At the Black Business Association Dinner in 2011, Gwen Moore, the author of General Order 156 and Chairperson of the BBA, presented Commissioner Simon with the Chairperson’s Award for his outstanding leadership on the CPUC. Most recently, he was awarded the National Association of Securities Professionals Maynard Jackson’s Pacesetter Award. This award is given to the individual who insured the full involvement and participation of diverse financial firms within the investor-owned utilities. He
also received the prestigious One Million New Internet Users award known as “El Promotor.” This award is given to individuals for their engagement in technology. Commissioner Simon has presided over n u m e r o u s decisions of the CPUC affecting Californians, including a recent decision that passed unanimously by the CPUC adopting a new financing rule. This decision moves utility financing activities towards a more accurate reflection of California’s growing diverse ratepayer base, and it promotes the full involvement of diverse firms in financing transactions. A signature program of Commissioner Simon is known as “New Connections.” Under his leadership, the program was established as a collaborative between the CPUC, women, minorities, and service disabled veterans’ business enterprises, and investor-owned utilities with a transactional focus to increase procurement. New Connections has held quarterly symposiums covering topics including diverse financial services, certified public accountant services, clean technology, and legal services. Commissioner Simon has held more than 17 such events. The program has helped to shape the focus on the investor-owned utilities. Last year, these utilities reported more than $7 billion in procurement spend with diverse businesses. Commissioner Timothy Alan Simon has established himself as a formative leader, a leader for our time.
53 August 2012 Black Business News www.blackbbusinessnews.net
NASA’s Curiosity Rover Scores Touchdown on Mars
fter eight years of planning and eight months of interplanetary travel, NASA’s Mars Science Laboratory pulled off a touchdown of Super Bowl proportions, all by itself. It even sent pictures from the goal line. The spacecraft plunged through Mars’ atmosphere, fired up a rocket-powered platform and lowered the car-sized, 1-ton Curiosity rover to its landing spot in 96-mile-wide (154-kilometer-wide) Gale Crater. Then the platform flew off to its own crash landing, while Curiosity sent out a text message basically saying, “I made it!” That message was relayed by the orbiting Mars Odyssey satellite back to Earth. A radio telescope in Australia picked up the message and sent it here to NASA’s Jet Propulsion Laboratory. Because of the light-travel time between Mars and Earth, throngs
of scientists and engineers — along with millions who were monitoring the action via television and the Internet — celebrated Curiosity’s landing 14 minutes after it actually occurred. Even the engineers who drew up the unprecedented plan for the landing admitted that it looked crazy. But the plan actually worked. Minutes after the news of the landing broke, commentator Allen Chen brought more good news: “We have thumbnails!” Odyssey delivered pictures showing the view from hazard avoidance cameras mounted on the rover.
Super Bowl pride The touchdown marked a $2.5 billion triumph for what Doug McCuistion, director of the Mars Exploration Program at NASA Headquarters, called “the Super Bowl of planetary
exploration.” Curiosity’s primary mission is scheduled to last one full Martian year, or almost two Earth years — but scientists hope the nuclearpowered rover will keep going for years longer than that. The successful landing sparked a swell of American pride for the mission team as well as for NASA and the White House. The biggest heart-swelling moment came during a post-landing news conference, when the blueshirted team behind Curiosity’s entry, descent and landing marched through the packed auditorium and high-fived their leaders. “EDL! EDL!” the flag-waving troop chanted, but it might as well have been “USA! USA!” President Barack Obama’s science adviser, John Holdren, said that
54 August 2012 Black Business News www.blackbbusinessnews.net
see USA Goes to Mars on page 55
Administrator Charles Bolden (left) congratulates NASA Associate Administrator for the Science Mission Directorate John M. Grunsfeld after the Mars Science laboratory rover Curiosity successfully landed on Mars, Sunday, Aug. 5, 2012.
USA Goes to Mars from page 54
NASA Announces $1.1 Billion in Support for a Trio of Spaceships
ASA has committed $1.1 billion over the next 21 months to support spaceship development efforts by the Boeing Co., SpaceX and Sierra Nevada Corp., with the aim of having American astronauts flying once
NASA will provide further support for the development of the Boeing Co.’s CST-100 capsule (left), Sierra Nevada Corp.’s Dream Chaser space plane (middle) and SpaceX’s Dragon capsule (right).
55 August 2012 Black Business News www.blackbbusinessnews.net
if anyone had any doubts about American technological leadership, “there’s a one-ton, car-sized piece of American ingenuity, and it’s sitting on the surface of Mars right now, and it certainly should put any such doubts to rest.” Obama himself issued a late-night statement via Twitter: “Tonight, on planet Mars, the United States of America made history. I congratulate and thank all the men and women of NASA who made this remarkable accomplishment a reality.” NASA Administrator Charles Bolden said the successful landing marked a significant step toward the
Obama administration’s vision of sending astronauts to Mars and its moons in the 2030s. “The wheels of Curiosity have begun to blaze the trail for human footprints on Mars,” Bolden told reporters.
more on American spacecraft within five years. The space agency is setting aside $460 million for Boeing, $440 million for SpaceX and $212.5 million for Sierra Nevada. The next phase of NASA’s commercial spaceflight effort — known as Commercial Crew Integrated Capability, or CCiCap — calls for these three companies to take their design and testing program through a series of milestones by May 2014. Optional milestones could lead to crewed demonstration flights in later years. NASA wants to have at least one commercial space taxi carrying astronauts to and from the International Space Station by 2017. The three companies say they can meet or beat that schedule, provided that they continue to receive NASA support. NASA Administrator Charles Bolden told reporters that the space taxi program “is a top priority of the Obama administration.” In the wake of last year’s retirement of the shuttle fleet, the space agency has had to depend on the Russians to fly American astronauts at a cost of roughly $60 milllion a seat. He said the move to U.S. commercial transport would guarantee “that we never find ourselves in the situation where we find ourselves today,” at the mercy of a sole provider.
City of Los Angeles Business Inclusion Program The City of Los Angeles is striving to increase the participation of small, emerging, veteran, women and minority-owned businesses in City contracts. All City departments utilize the Cityâ€™s electronic marketplace, Los Angeles Business Assistance Virtual Network (www.labavn.org), to post all opportunities subject to advertising. We encourage business owners to register on www.labavn.org to receive notifications of contracting opportunities as well as updates on implementing the program. Visit www.losangelesworks.org for additional information regarding doing business in and with the City of Los Angeles.
Mayorâ€™s Office of Economic & Business Policy
San Diego World Trade Center
“Access China 2012” September 5-13, 2012
www.wtcsd.org/asia-desk/access-china-2012 ORLD TRADE CENTER San Diego, with the support of the California State Trade and Export Promotion (STEP), is leading a trade mission to China (September 5-13, 2012) to promote California exports. The delegation will participate in the 16th Annual China International Fair for Investment and Trade (CIFIT) in Xiamen. USDOC’s U.S. & Foreign Commercial Service staff in China will provide briefings and support. The remainder of the trade mission includes trips to three (3) dynamic cities in the prosperous Yangtze River Delta: •Nanjing •Changzhou •Shanghai
• Develop export markets and business opportunities in southern and eastern China, two major hubs for China’s commerce and industry • Provide exposure for your products and services to visitors from all regions of China and the world during CIFIT • Attend CIFIT’s investment and trade seminars/forums • Gain access to key players and business leaders in China through pre-arranged meetings and matchmaking services • Minimize your costs and time with our travel logistics services and pre and post-fair assistance
OPPORTUNITY COST OF GOING SOLO:
• Qualified California SMEs are eligible to receive $1,000 towards their trade mission participation • Join business/government leaders from throughout California • Pre-arranged matchmaking meetings in each city • Harness the World Trade Center Association’s global network for facilitating international trade
WTCSD Trade Mission: $5,500 Individual Trip Estimate: $10,300+
For questions, or additional information, please contact: Ethan Devine, Asia Desk Manager WORLD TRADE CENTER San Diego (619) 615-0868 firstname.lastname@example.org
61 August 2012 Black Business News www.blackbbusinessnews.net
SERVING THE INDUSTRY and the TRADE PIPE - VALVES - FITTINGS - METALS - TOOLS PROCESS CONTROLS - INSTRUMENTATION - WATER WORKS
Brandon Supply Corporation is a world class distributor of industrial supplies. Brandon has been proven to be a dependable source of supply to the petrochemical, power generation and waterworks industries providing fast and reliable service. Brandon, in maintaining the policy of selling only superior products, represents only the nation's top manufacturers.
SBA CERTIFIED We offer a full range of valves for all piping applications, pressure tubing in all sizes and schedules, a complete line of fittings, flanges and couplings in all metallurgies. We also offer a full range in PVC, HDPE and other materials.
Clarence D. Scott, CEO CORPORATE HEADQUARTERS 14120 Gannet Street Santa Fe Springs, CA 90670
MAILING ADDRESS P.O. Box 5354 Buena Park, CA 90623
Phone: 562-921-0407 | FAX: 562-921-5945 800.238.5906 (Outside California) www.brandonsupply.com | email@example.com
ALL MAJOR CREDIT CARDS ACCEPTED
63 August 2012 Black Business News www.blackbbusinessnews.net
We are very excited to announce the collaboration between
Money for You Can
El Camino College offers the training and advising you need to enhance your ability to bid for and WIN state highway construction contracts. Now is the time to get bid ready with assistance in the areas of procurement, personnel, cash flow, marketing and more!
Appointments with a business advisor are available at the SBDC at no charge to you. For more information, call the SBDC at 310.973.3177. Be sure to attend the free Economic Stimulus event on Thursday, November 19, 2009, in the City of Compton to learn more about stimulus opportunities available from Caltrans and other state and federal agencies. Visit californiasbdc.org for details.
Small Business Development Center Hosted by El Camino College 13430 Hawthorne Blvd. Hawthorne, CA 90250 310.973.3177 southbaysbdc.org
Artwear Handpainted Handbags • Skirts Tees • Accessories • Calendars Wall Hangings and More! http://gbabysworld.blogspot.com Gbabyartwear@hotmail.com or Gbabyart345@gmail.com Find Gbaby Products at the “Collective” http://www.atthecollective.com 280 Elizabeth Street, Atlanta, GA
Cultural Interiors West &
in the Pico Fairfax Area.
Cultural Interiors West 5573 West Pico Blvd. Los Angeles, CA 90019 Check out our diggs inside a 1934 Bungalow. Stop by and experience our exciting array of products from Cards to Cupcakes, African Masks to Asian Teacups. Come taste and educate yourself about the benefits our new Healthy Herbal Teas. See the new Gourd Purses by 3G Relative Art. Sample our new candle scents by Votivo and Voluspa. Watch for the arrival of CI’s new furniture line. Hope to see you soon!!! In the meantime visit us on Facebook www.facebook.com/ pages/Cultural-InteriorsWest/140688362658236
64 August 2012 Black Business News www.blackbbusinessnews.net
OFFICE FURNITURE LA The Office Furniture team you’ve always trusted is still in your neighborhood!
Greetings! If you’ve known and trusted the Office Furniture LA brand, then you’ve known and trusted Frank Denkins. You have kept Frank in business over the years because you’ve experienced his integrity in providing quality products and delivering
it with excellence and grace. Frank would like to acknowledge your support. Visit his newly renovated facilities at 7625 Crenshaw Boulevard in Los Angeles.
Ergonomics of Sitting One common complaint from office workers everywhere is back fatigue and sometimes, back pain from bad seating posture. Office Furniture LA provides ergonomically designed seating solutions for maximum back support.
When you need it in a hurry! Frank and the Office Furniture LA Team can get your office up and ready in grand style, practically overnight!
65 August 2012 Black Business News www.blackbbusinessnews.net
Honor National Sisters Day with Flowers! YES!!
Take a Look! by LaSandra Stratton Check out what these firms and organizations have to offer for your personal interests, personal wealth building, and business expansion opportunities.
www.triposo.com At Triposo we make the best travel guides (over 8,000 destinations) for your iOS or Android mobile device using algorithms. What we end up with is a complete overview of the things to see and do, places to eat and to go out, all ordered by relevance from a traveler’s perspect i v e . Downl o a d the app f r o m your Appstore. We crawl data from the web, apply some clever algorithms and fully automatically generate travel guides of high quality that cover the entire world. We use data from World66, Wikitravel, Wikipedia, Open Street Maps, TouristEye, Dmoz, Chefmoz and Flickr. Where we find incorrect data, we try to contribute back of course. From each source we try to extract information about the places like villages, cities and countries, and the points of interest (restaurants, museums, shops, trees, etc). Once our algorithms have determined which points of interest are most important, we start creating guides for countries and cities. We combine the descriptions from open sources with maps made using data from the Open Street Map project and there you go: a complete travel guide comes out.
fully prepared so you can just snap components together like Lego in your web browser. Babycad is available as a Free Tool and as a Pro Tool for a monthly fee.
www.safeshepherd.com Safe Shepherd finds and removes your family’s personal info from websites that sell it. We’ll scan across the internet
Babycad is the latest web design tool for exhibition professionals. It lets you play with exhibit design ideas in a web page. It’s free and incredibly easy-to-use. Babycad concentrates on enabling booth designers to respond rapidly to enquiries. In today’s ‘instant gratification’ marketplace, the positive impact Babycad will have on your business can be profound. In Babycad we’ve brought together the award winning 3DStandards™ exhibition design software with the Babycad set of virtual 3D exhibition products. Each model is care-
www.giveforward.com GiveForward pages empower friends and family to send love and financial support to patients as they navigate a medical crisis. Start a GiveForward page today and ease the burden of your loved one’s out-of-pocket medical expenses. For Donors:GiveForward makes it really easy and safe to support a favorite cause or a loved one in need. We use the latest encryption technology to make sure your information is secure. And, we never give out your contact information unless you decide you want to share it with the beneficiary. Submitted by LaSandra Stratton, Chief Content Administrator of the Black Business News.
67 August 2012 Black Business News www.blackbbusinessnews.net
for your personal information which has been made public or is being sold. Then easily remove records which violate your privacy, are risky, or are inaccurate. We’ll do all the work. You’ll receive real-time alerts when your personal info appears on the web, whether you put it there or not. Sign up for Free. Select the business model that suits your needs - always free, monthly or annual fee.
SEPT. 12-13 FIND DETAILS AND REGISTER AT
WWW.LACHAMBER.COM Don’t miss this opportunity: You too can do business with Canada, Mexico, Brazil, Colombia, Peru and other growing Latin American markets without leaving California.
EARLY BIRD SPECIAL: $199 After Aug. 15, registration is $250 for the two-day forum or $150 for the conference on Sept. 12 only.
Wednesday, Sept. 12 – Learn what to do and what not to do when doing business in the Americas, and hear about the Asian presence in the region. Participate in round table discussions on economic and political assessments; legal considerations; finance and logistics. Includes continental breakfast and lunch. Thursday, Sept. 13 – Individualized one-onone meetings with U.S. Senior Commercial Officers representing the commercial and industrial interests of U.S. firms in the Americas.
69 August 2012 Black Business News www.blackbbusinessnews.net
Building Your Business for Success: The Importance of Ownership
ne of the keys to economic independence for African American business owners is the acquisition and ownership of commercial real estate. By controlling the buildings and land that house the means of generating revenue, an entrepreneur can better attain the goal that underpins what being in business is all about: maximum self-determination. With interest rates now at historically low levels and the economy growing at a slow pace, now is a prime time for many business owners to consider the purchase of commercial real estate. The benefits and drawbacks to commercial real estate ownership vary from business owner to business owner, but potential buyers should educate themselves about the obvious and sometimes hidden benefits to the ownership of a commercial property. Below are some of the major benefits to real estate ownership, versus leasing a commercial space.
Added Value To Business
For many Black business owners, a primary benefit of commercial real estate ownership is the tax deductibility of property that can be taken on the interest portion of the monthly commercial loan payment. These deductions can be substantial and each business owner should consult a qualified tax specialist about his or her unique situation.
Unlike some residential loans, many commercial loans are assumable. This makes the business and its real estate much easier for a buyer to acquire, and enhances the value of the business tremendously.
Equity Appreciation On average, commercial real estate properties will appreciate about two to three percent above inflation over the long term. Paying rent provides no appreciation or equity. Quite candidly, the BBA has members who have been paying rent for a decade or more, with no equity accrued and never having positioned themselves to benefit from any hope of equity appreciation. Using some of the most conservative estimates, potential equity appreciation can result in significant financial gains over a period of decades.
A Retirement Fund Through various circumstances, many minority and small business owners will not receive a pension when they decide to retire. In such cases, the equity appreciation on commercial property can be significant. An owner can decide either to sell the property upon retirement to cash in on equity appreciation, or lease the property to another business for a continuous retirement income stream. In fact, in some situations, a business owner may be able to lease out an unused portion of the property, such as a spare office, before retirement for additional income.
No Taxes To Pay On Your Rent When a business leases its real estate, sales tax is paid on the rent paid to the landlord. When you own the real estate there is no tax to pay on the rent. The savings can be significant.
Easy Access To Financing Historically-low, thirty-year fixed interest mortgage rates are now available for owner-occupied commercial properties. Furthermore, there are flexible interest-only options from which entrepreneurs can benefit. In fact, in some instances, with strong financials a business owner may qualify for loan financing up to 100% of the purchase price for commercial real estate. A business owner should consult an experienced commercial mortgage adviser before making an offer on a commercial property, so that in addition to the tangible benefits outlined above, the business owner will have the satisfaction that only comes with property ownership. Truer words have never been spoken: â€œGod bless the child thatâ€™s got his ownâ€?. The Black Business Association will soon launch a program to assist African American business owners in acquiring commercial and industrial real estate.
Researchers Have Discovered The Achilles’ Heel Of HIV myhealthnewsdaily
Though this discovery only explains the virus’s tricks during the early stages of infection, it may help researchers understand how the virus continues to evade the immune system well into infection. The researchers based the study on their previous research, which showed that early stages of HIV infection impaired the human immune system’s response.
The discovery of proteins in the virus is critical for developing HIVantiviral drug treatments, because the virus is constantly adapting to become resistant to current medications, Gale said. www.businessinsider.com/proteinenables-hiv-to-thwart-the-immunesystem-2012-7
Quote of Note... “NASA’s success reminds us that our preeminence – not just in space, but here on Earth – depends on continuing to invest wisely in the innovation, technology, and basic research that has always made our economy the envy of the world.”
Locations: Downtown Culver City: 9537 Culver Blvd. 310-202-5453 City of Compton: 2600 E. Alondra Blvd. 310-638-7871 www.honeyskettle.com
President Barack H. Obama
Open Sunday-Thursday 11am-10pm Friday-Saturday 11am-11pm
75 August 2012 Black Business News www.blackbbusinessnews.net
ne reason the human body cannot fight off an HIV infection is because a single protein the virus produces thwarts human defenses, a new study says. When HIV enters the human body, it produces a protein called vpu that directly combats a critical defense protein of the human immune system, the study showed. Normally, this immune system protein stops invading viruses from replicating and spreading throughout the body. But vpu disables this defense mechanism, allowing HIV to invade. When the researchers genetically engineered the virus to lack vpu, human immune system cells could fight back against the virus, the researchers’ experiments with cells in lab dishes showed. “We have effectively identified a new Achilles heel in the arsenal that HIV uses to overcome the defenses present in the body’s immune system,” said Michael Gale, an immunology professor at the University of Washington in Seattle. “This knowledge can be used to design new HIV antiviral therapeutics.”
The Next Big Steps in Robotic Surgery This is part of a 30-part series called “Game Changers.” This special series investigates the most remarkable advancements in science, energy and health — and how they will impact the way we live. This series is brought to you by Samsung’s Galaxy S3.
obotic surgery, the amazing technology that allows surgeons to operate on patients with greater efficiency and precision via a surgeon-controlled robotic device, is poised to change the nature of surgery forever. Here’s what the future of robotic surgery might bring:
Tele-surgery Doctors are anticipating the growth of tele-medicine and long-distance operations, where a doctor could conceivably operate on a patient in another city, state, or even a different continent. Practically, this would mean that surgical centers would be set up in different parts of the world and a doctor could go to a surgical center and sit in a control console while a patient in a different surgical center would be operated on by a robot controlled by that doctor. Already a long-distance operation was performed via robotic surgery between New York and Strasbourg, France, in 2001. The surgery, which was dubbed “Operation Lindbergh” for its pioneering qualities, was performed successfully, but there was a delayed lag time that made this long-distance surgery impractical. However, as the internet becomes faster and bandwidth becomes cheaper, this will undoubtedly change. Dr. Michael Palese, a urological surgeon and the Director of Minimally Invasive Urology at Mount Sinai Hospital in New York City, specializes in robotic, laparoscopic and endoscopic surgery and performs over 800 surgical procedures each year--many of which he uses the robot for. “In the future there will be telemedicine, where you can operate on someone somewhere else in the world,” Palese said. “I don’t think that’s
far-fetched science f i c t i o n anymore. I think that I’ll see that in my lifetime.” Palese added that the growth of telemedicine will also mean a higher level of competition between doctors who are vying for surgical bids. This could mean that doctors in places like India and China could be competing with doctors in America and Europe. This would raise the bar and push surgeons to be the very best in the field.
Single-Incision “Snake Hole” Ports The other possibility that we could see in the future is the single-incision port, where a doctor could make a tiny incision--perhaps through a patient’s bellybutton--and then insert the snakelike arms of the robot through that incision. Currently, the robot makes a few small incisions, through which its slender robotic arms are inserted. “The next generation of this
technology will mean that you put one little hole in the patient and then put snake-like arms through that hole,” Palese said. “That will be a real technology buster. That would change the nature of surgery forever.”
30 Innovations That Will Change The World Track other innovations by visiting: www.businessinsider.com/30-gamechanging-innovations-2012-8 www.businessinsider.com/robotic-telesurgery-and-snake-holes-2012-7
76 August 2012 Black Business News www.blackbbusinessnews.net
Celebrate the Summer Games at Your Local Let’s Move! Olympic Fun Day
About Let’s Move! Meetups Everywhere 3,775 Movers 983 cities Let’s Move! has a national goal of solving the problem of childhood obesity within a generation. We want to spark face-to-face meetings and activities to find local solutions. A Let’s Move! Meetup is flexible -- i.e. a discussion, a physical activity in the park or a healthy cooking class -- just be sure to include the details in the event notes. It’s going to take all of us to tackle the challenge, so Let’s Move! to end the epidemic of childhood obesity together.
77 August 2012 Black Business News www.blackbbusinessnews.net
irst Lady Michelle Obama is leading the U.S. Delegation to the 2012 Olympic Games and she’s calling on families around the country to support Team USA, not just by cheering on our athletes, but by getting active in their own communities. Saturday, July 28th is the first day of the competition in London. We’re calling on families around the country to join us by participating in an existing “Olympics-inspired” Meetups in your neighborhood or by planning one of your own. Plan your local Let’s Move! Olympic Fun Day Meetup. Missed the Olympic games time period? Plan a Fun Day Meetup for the kids in your neighborhood anyway. Visit www. meetup.com/lets-move for guidelines and ideas. www.letsmove.gov
Operation HOPE and Gallup Announce Launch of the America 2020 Campaign
Index” in February of this year, as the company’s flagship intervention program to stem the high school dropout rate and promote entrepreneurship in America. “HOPE Business-in-A-Box (HBIAB) will unlock the entrepreneurial energy residing dormant among the 30 million middle school and high school students who are the future leaders of America and the bench strength for the playoff game of our lives as the country competes in the global war for jobs,” said Taylor. “The America 2020 Campaign will raise $10M in operating capital enabling the national roll out of HBIAB over the next three years. “ HOPE Business-in-A-Box consists of 25 business all $500 dollars or less easy to start, fund and operate entrepreneurial endeavors designed for youth. The core difference maker for HBIAB is the active engagement between the student and his/her HBIAB business role model. “The big failure of our leadership in America is that only 5% of the 30 million middle school and high school students
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inancial dignity nonprofit Operation HOPE (www. operationhope.org) and Gallup, (www.gallup.com) the co-creators of the Gallup HOPE Index, today announced the launch of the America 2020 Campaign, a national campaign to crush the high school dropout rate and unlock the entrepreneurial energy residing dormant among the 30 million middle school and high school students in the US. “The campaign will be led by America 2020 Campaign Chairman, Landon V. Taylor, Vice President of Business Development for CoreLogic Dorado and Co-Chairman of the Gallup-HOPE Index Advisory Board,” said John Hope Bryant, Operation HOPE founder, chairman and chief executive office. “With the passion and relentless drive that Landon brings to the campaign, the America 2020 vision is certain to be realized.” Operation HOPE introduced HOPE Business-in-A-Box (www. operationhope.org/business-in-abox) “Powered by the Gallup-HOPE
are in internships in companies or organizations. What these future leaders need are positive business role models. If city leaders were to change that 5% to 20%, it would transform the United States of America more than anything else ever done in our country,” said Gallup CEO, Jim Clifton. “HBIAB and the America 2020 Campaign have set out a great plan to reach 20% nationwide by December 2020 and we at Gallup have pledged our support for the next 100 years.” The America 2020 Campaign has attracted world class supporters and partners including: • Endorsed by the White House Summer Jobs+ Initiative • Endorsed and announced as commitment best practice at the White House Financial Capability Summit • Gallup, who has made a 100-year commitment • Denver Public Schools as HBIAB pilot partner • Oakland Unified School District as HBIAB pilot partner • Featured on main stage at former President Bill Clinton’s CGI America 2012 • BBDO World Wide as designer of the HBIAB product packaging • Endorsed by Ambassador Andrew Young who arranged the Atlanta pilot to be led by Jean Childs Young Middle School Gallup and HOPE began work together in 2010 to identify hope, wellbeing, engagement, financial literacy, and economic energy, polling American students, in an effort to help educators factor in the voices of students when tailoring education curriculum and determining schooling interventions. Ultimately, this work stands to become one of most powerful initial forecasts for the nation’s GDP, job growth, and overall leadership role in the world. In December 2012 the America 2020 campaign will take center stage at the 2nd Annual Gallup HOPE Index Forum where the companies will announce the America 2020 founding signature partners along with the Gallup HOPE Index 2012 results.
The Fate of the University in the YouTube Era By Wade Roush
raditional American universities are suddenly running scared of the Internet, and for good reason. They successfully weathered the rise of online, open-enrollment degree programs like the University of Phoenix, but now they’re confronting a much more terrifying enemy: YouTube. Not just YouTube, of course—there’s also Vimeo (http://vimeo.com) and 5min (www.5min.com) and iTunes U (www.apple.com/education/itunes-u/) and TED (www.ted.com) and the Internet Archive (www.archive.org). But without YouTube, Sal Khan could never have turned the remote mathtutoring sessions he began offering to his cousin Nadia back in 2006 into a global Internet phenomenon reaching 4 million unique viewers a month. Khan Academy (www.khanacademy.org) is, essentially, a creature of the Google era. The search giant gave the nonprofit its first big grant back in 2010, and YouTube is still the storehouse for all 3,200 of its videos, which have been viewed 170 million times. The threat to universities is this: Internet video sharing technology means that talented people from outside the education establishment can make and publish free educational videos that are sometimes just as compelling as what’s on offer inside university classrooms. Universities are scrambling to respond: this spring’s unveiling of edX (www.edxonline. org), a joint online-education venture between Harvard and MIT, is just one example. But even as universities rush to put their lectures on the net, they’re vying with an explosion of new online learning resources like Coursera (www.coursera.org), Dabble (http://dabble.co), Skillshare (www. skillshare.com), Udemy (www.udemy. com), and Udacity (www.udacity.com). Most are free, and most revolve around video.
From one perspective, this kind of competition is healthy and long overdue. For 40 years now, fouryear universities have been jacking up tuition and fees at three times the rate of inflation. They’ve got more professors and nicer sports stadiums to show for it, but there’s no evidence that faculty are more productive or that students are getting a better education for their money. If online channels can deliver college-level material in a more efficient and exciting way, while at the same time opening up knowledge to millions of people who can’t afford tuition or don’t meet admissions standards, that’s a great thing, right? Well, probably. As pricey as our universities have become, they’re still the envy of the world. International enrollment is at an all-time high as students from China, India, Saudi Arabia, and other countries clamor for an American university education. A college d e g r e e confers a significant w a g e premium, a n d provides s o m e level of insurance against unemployment. Clearly, students at Harvard aren’t paying $208,000 in tuition just for classroom knowledge—they’re also buying a credential from a brandname institution, not to mention the professional networking opportunities that can get them a head start on their careers. If you put the whole curriculum online, can you still charge a premium for these other benefits? No one knows yet. But universities have no choice but to experiment.
The point came home to me this week when I realized just how aggressively Khan Academy is expanding into the “casual learning” market. This is a genre that couldn’t have existed before YouTube. It consists of semiprofessionally-shot videos starring enthusiastic domain experts who want to share a bit of their knowledge in an
entertaining way. And it turns out that two of my favorite casual-learning series on YouTube—Smarthistory and Doodling in Math Class—have recently been absorbed by Khan Academy. Smarthistory is the creation of Beth Harris, formerly director of digital learning at the Museum of Modern Art in New York, and Steven Zucker, former chair of the History of Art and Design at the Pratt School. The two started off making free audio-guide podcasts for MOMA visitors, but the project rapidly expanded into an ambitious multimedia survey of the history of all art. A typical
episode consists of a video screencast focused on a single painting or sculpture—say, Cézanne’s Still Life with Apples. On the audio track, Harris and Zucker discuss the artist, the work, and its place in the canon. The audio is always recorded live as they’re standing in front of the actual work, and they often disagree or talk over one another, which is part of the fun. Smarthistory (http://smarthistory. khanacademy.org) won a Webby
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Online University from page 80
Award for best education site in 2009, but it was always a low-budget operation, scraping together funds from places like the Kress Foundation, the Portland Art Museum, and even a Kickstarter (www.kickstarter. com) campaign. Last October, to my astonishment, Smarthistory merged with Khan Academy, where Harris and Zucker now share the title Dean of Art and History. Their 300 videos have become part of the Khan course lineup—in fact, they’re the first Khanbranded videos that aren’t narrated by Sal Khan himself. In a blog post about the merger, Khan said the move represented just a beginning of a push into arts and the humanities. That’s a key addition to a curriculum that’s otherwise extremely heavy on math, science, economics, and test preparation. It was less surprising to find out that Victoria “Vi” Hart, the creator of the Doodling in Math Class (http://vihart. com/doodling) series and many other fun videos, has also joined forces with Khan Academy. The holder of a music degree from Stony Brook University,
and art history. But today they’re in danger of ceding that role to the new YouTube celebrities. At any real college, professors like Harris, Zucker, Hart, Reich, and Khan would be the stars— their lectures would be the ones you’d
remember 30 years later. But to hoover up the knowledge they’re sharing, you don’t have to enroll anywhere, and you don’t have to pay a cent. That’s obviously a bit of a problem for the old guard of higher learning. MIT and Harvard are responding with a $60 million effort called edX, which will put courses from both universities online using “massive open online course” or MOOC (en.wikipedia.org/ wiki/Massive_open_online_course) technology developed for MIT’s own online courseware project, MITx. The prototype MITx course, Circuits and Electronics, ran from March through June, and involved a combination of videos (hosted on YouTube, of course), an online textbook, an interactive lab, and a course-wide wiki. Stanford is going in a slightly different direction. Rather than launch a rival to edX, it’s turning to its own faculty to build education startups, and then partnering with them. Coursera, founded last year by Stanford computer scientists Daphne Koller and Andrew Ng, offers online versions of 15 Stanford courses, and announced this week that it has signed up a dozen more research universities to contribute material, including Caltech, Johns Hopkins, and Duke. Meanwhile, Stanford roboticist (and Xconomist www.xconomy.com) Sebastian Thrun attracted so many people to his free online course on artificial intelligence last year (there were more than 160,000 students from 190 countries) that he decided to
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Hart calls herself a “recreational mathemusician.” She became famous (in geek circles, anyway) back in 2010 when she started publishing frantically sped-up math videos on YouTube, usually using fanciful characters like slugcats (felines with long slug tails) to illustrate obscure-but-fascinating aspects of geometry. Topics like fractals and infinite series came alive through Hart’s anthropomorphic
drawings, but that was only part of what made the videos enchanting. Throughout, she also sprinkled fairly barbed criticisms of how deadening traditional math education can be. (Why doodle in math class, she asks in one video? “Maybe you have an incompetent teacher and it’s too heartbreaking to watch her butcher what could have been such a fun subject full of snakes and balloons.”) My favorite Doodling videos are the ones on Fibonacci numbers, which turn up with amazing frequency in the spiraling patterns of leaves and seeds in many plants. But as awesome and popular as these videos were—Hart’s riff on Infinity Elephants (www.youtube. com/watch?v=DK5Z709J2eo) has been viewed more than 1.5 million times—they weren’t exactly earning her a living; she says in one video that she got by for a long time on speaking fees. That’s why it was such a perfect match when Khan Academy hired her and assigned her to keep going. Now “I show up at an office and do whatever I want and get paid for it,” Hart says. She adds that while her own videos make nice teasers for cool corners of mathematics, the Khan curriculum is a gateway to the deeper technical details. “I want to share cool stuff you can do [with math], and it is very important to be able to amuse yourself in class,” she jokes. “But when people ask me how do I go farther than that, how do I get down some basics, Khan Academy is such a perfect way to do this.” There are plenty of other people making great, free educational videos on YouTube. One source that came in extremely handy a couple of weeks ago, during the hoopla over the Higgs boson, was Minute Physics, the creation of animator Henry Reich. His explanation of how the Higgs field imparts mass was the best I’ve seen, hands down. As far as I know, Reich hasn’t taken a job at Khan Academy yet, but he has fans who think he should. My overall point is this: it’s always been the job of universities to inspire students to undertake careers in intellectually challenging fields like math, chemistry, linguistics, physics,
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give up his faculty position to pursue online education full time. His startup Udacity now offers 11 MOOCs, from “Intro to Computer Science” to “Applied Cryptography.” But when it comes to Web traffic and the volume of courseware available, Khan Academy has a huge lead over all of these other projects. And since none of the online courseware projects are offering actual degrees yet, this is a space where having a premium brand name like Harvard, MIT, or Stanford isn’t such a big advantage.
Just to keep things competitive, Khan launched an iPad app this spring offering access to all 3,200 videos. It’s currently ranked 12th in the free-education-apps category of the iTunes App Store. (Apple’s own iTunes U is ranked 3rd.) If the organization keeps expanding to new platforms, acquiring properties like Smarthistory and Doodling in Math Class, and filling out its catalog with material that’s entertaining as well as educational, it will be tough to beat. Stanford president John Hennessy was right to tell New Yorker writer Ken Auletta earlier this year that “there’s a tsunami coming” in online education. Universities will probably find a way to survive—as they’ve been doing for a thousand years—but they’re going to have to swim for it. www.xconomy.com/ national/2012/07/20/can-anyonecatch-khan-academy-the-fate-of-the-uin-the-youtube-era/?single_page=true
Police Using ‘Predictive Analytics’ to Prevent Crimes Before They Happen By Agence France-Presse
rime fighters have long used brains and brawn, but now a new kind of technology known as “predictive policing” promises to make them more efficient. A growing number of law enforcement agencies, in the US and elsewhere, have been adopting software tools with predictive analytics, based on algorithms that aim to predict crimes before they happen. The concept sounds like something out of science fiction and the thriller “Minority Report” based on a Philip K. Dick story.
Without some of the sci-fi gimmickry, police departments from Santa Cruz, California, to Memphis, Tennessee, and law enforcement agencies from Poland to Britain have adopted these
new techniques. The premise is simple: criminals follow patterns, and with software — the same kind that retailers like WalMart and Amazon use to determine consumer purchasing trends — police can determine where the next crime will occur and sometimes prevent it. Colleen McCue, a behavioral scientist at GeoEye, a firm that works with US Homeland Security and local law enforcement on predictive analytics, said studying criminal behavior was not that different from examining other types of behavior like shopping. “People are creatures of habit,” she said. “When you go shopping you go to a place where they have the things you’re looking for… the criminal wants to go where he will be successful also.” She said the technology could help in cities where tight budgets were forcing patrol reductions. “When police departments are laying off more sworn personnel, they can do more with less,” she said. The key to success in predictive policing is getting as much data as see Predictive Analytics on page 83
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Predictive Analytics from page 82
system has had a dramatic impact, allowing Memphis to get off the list of worst US cities for crime. “If the data is indicating a hot spot, we are able to immediately deploy resources there. And in a lot of instances we are able to make quality arrests because we’re in the right area at the right time,” he told AFP.
that we can plug into.” While use of such analytics generally wins plaudits for helping “smarter” policing, it does raise concerns about Big Brother-like snooping. Andrew Guthrie Ferguson, a law professor at the University of the District of Columbia, said the use of technology could be positive but that it could lower the threshold for constitutional protections on “unreasonable” searches. “To stop you and frisk you and search you, a police officer needs reasonable suspicion, so my question is how will this affect reasonable suspicion?” he said. If the search is based on a computer algorithm, Ferguson said, and the case comes to court, “How do you crossexamine a computer?” IBM’s Cleverly said the technology can in many cases improve privacy. “You can pinpoint the record of who has access to information, you have a solid history of what’s going on, so if someone is using the system for ill you have an audit trail,” he said. As for “The Minority Report” and its predictive software, Cleverly said, “It was a great film and great short story, but it’s science fiction and will remain science fiction. That’s not what this is about.” www.rawstory.com/rs/2012/07/29/ police-using-predictive-analytics-toprevents-crimes-before-they-happen
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possible to determine patterns. This can be especially useful in property crimes like auto theft and burglary, where patterns can be detected. “You can build a model that factors in attributes like the time of year, whether it is hot and humid or cold and snowy, if it is a payday when people are carrying a lot of cash,” says Mark Cleverly, who heads the IBM unit for predictive crime analytics. “It’s not saying a crime will occur at a particular time and place, no one can do that. But it can say you can expect a wave of vehicle thefts based one everything we know.” IBM has worked with dozens of agencies such as London’s Metropolitan Police, the Polish National Police and a number of US and Canadian cities. In Memphis, officials said serious crimes fell 30% and violent crimes declined 15% since implementing predictive analytics in a program with IBM and the University of Memphis in 2006. The program known as CRUSH — Criminal Reduction Utilizing Statistical History — targeted certain “hot spots” to allow police to deploy more efficiently. John Williams, crime analysis manager for the city’s police, said the
Although beat officers can use their instincts for similar results, Williams said the software could be far more precise, such as predicting burglaries in a small geographic area between 10 pm and 2 am. In one case, the software was able to help police break up a group that was committing armed robberies on the city’s Hispanic population. “There were 84 robberies, but we had no idea it was so organized,” Williams said. By crunching the numbers, police were able to pinpoint the zone and time of likely holdups: “We caught a group of robbers in progress, we had leads on additional robberies,” he said. Williams said police officials from as far away as Hong Kong, Rio de Janeiro and Estonia have come to review the experience in Memphis. In Los Angeles, another program developed by scientists at the University of California-Los Angeles and Santa Clara University was tested in a single precinct, and resulted in a 12% drop in crime while the rest of the city saw a 0.2% increase. That test and others led to the creation of a company called PredPol. And Los Angeles will expand its use of the program under contract with PredPol, said CEO Caleb Baskin. Baskin said the system is based on a model from mathematician G e o r g e M o h l e r which “is very effective in predicting the time and location for crimes that have not yet taken place.” PredPol had begun working with other cities in California and “we’ve had inquiries from a lot of places in the US and international locations,” Baskin said. “The science that underlies the tool will work anywhere. The question is does the agency maintain a database
Report: The Power of the African-American Consumer
frican-Americans’ buying power is expected to reach $1.1 trillion by 2015, according to The State of the African-American Consumer from Nielsen and the National Newspaper Publishers Association (NNPA), a federation of more than 200 Black community newspapers across the U.S. This growing economic potential presents an opportunity for Fortune 500 companies to examine and further
understand this important, flourishing market segment. Likewise, when consumers are more aware of their buying power, it can help them make informed decisions about the companies they choose to support. “Too often, companies don’t realize the inherent differences of our community, are not aware of the market size impact and have not optimized efforts to develop messages beyond
coincide with Black those that co History Month,” said Cloves Campbell, chairman, NNPA.
85 August 2012 Black Business News www.blackbbusinessnews.net
• With a b buying power of nearly $1 o ttrillion annually, if African-Americans were a country, they’d be the 16th largest country in the world. • The number of African-American households earning $75,000 or higher grew by almost 64%, a rate close to 12% greater than the change in the overall population’s earning between 2000 and 2009. This continued growth in affluence, social influence and household income will continue to impact the community’s economic power. • African-Americans make more shopping trips than all other groups, but spend less money per trip. African-Americans in higher income brackets, also spend 300% more in higher-end retail grocers more than any other high income household. • There were 23.9 million active African-American Internet users in July 2011 – 76% of whom visited a social networking/blog site. • 33% of all African-Americans own a smartphone. • African-Americans use more than double the amount of mobile phone voice minutes compared to Whites – 1,298 minutes a month vs. 606. • The percentage of AfricanAmericans attending college or earning a degree has increased to 44% for men and 53% for women. Find out more by downloading the free report: The State of the AfricanAmerican Consumer (www. nielsen.com//us/en/insights/reportsdownloads/2011/state-of-the-africanamerican-consumer.html).
Count Me In’s Urban Rebound Program is Coming to a City Near You! Count Me In, with support from the Sam’s Club Giving Program, is pleased to present the Count Me In Urban Rebound Program, coming to Los Angeles, CA (Spring), Detroit, MI (Summer) and Charlotte, NC (Fall) 2012. Urban Rebound is an exciting initiative for
women entrepreneurs ready to grow their businesses to $250,000 or more in annual revenues. In the coming weeks, we’ll be announcing pitch parties, webinars and, of course, a fabulous pitch competition for women with businesses based in these areas. We’ll be looking for 100 women from each city to participate in our Business Accelerator Program so don’t miss out on your chance to be a part of this exciting opportunity! Sign up for Count Me In’s Urban Rebound Program event alerts and updates at: http://makemineamillion.org/webform/Upcoming-Events
Count Me In for Women’s Economic Independence, Inc. is a leading 501(c)(3) nonprofit organization dedicated to helping women grow their micro business into million dollar enterprises.
John Atta Mills Dead: Ghana President Dies Unexpectedly By Reuters
hana’s President John Atta Mills has died unexpectedly, a presidential statement said, and an aide said his death occurred on Tuesday, July 24, 2012, after he took ill on Monday night. The death of the president of the world’s No. 2 cocoa grower comes months before Mills was due to stand for re-election at the helm of the West African country that posted double-digit growth in 2011 and has been praised for its strong democracy in a turbulent region. Vice President John Dramani Mahama was scheduled to be
sworn in later Tuesday. According to the country’s constitution, Mahama will complete Mills’ term that was due to end with elections in December. “It is with a heavy heart ... that we announce the sudden and untimely death of the president of the Republic of Ghana,” a statement sent to Reuters by the president’s office said. It said that Mills, 68, died a few hours after being taken ill but no further details were given. A presidential aide, who asked not to be named, said the president had complained of pains on Monday evening and died early on Tuesday afternoon when his condition worsened. Mills, who oversaw the start of oil production in Ghana, returned from
medical checks in the United States several weeks ago. The BBC reported he had recently suffered from throat cancer. Mills was married to Ernestina Naadu Mills, an educator, and has a son, Sam Kofi Atta Mills, according to his official online profile. In March, President Barack Obama received the Ghanaian president in the Oval Office and praised him and his country as “a good-news story” in Africa. On Tuesday, the U.S. State Department said it “learned with sadness” about Mills’ death. “Our thoughts go to his family and to see Atta Mills Dies on page 89
President Barack Obama shakes hands with President John Evans Atta Mills of Ghana in the Oval Office of the White House in Washington, Thursday, March 8, 2012. (AP Photo/Susan Walsh) 87 August 2012 Black Business News www.blackbbusinessnews.net
Former President George Bush helps paint and refurbish a clinic used to screen and treat cervical cancer in Kabwe, Zambia.
Atta Mills Dies from page 87
the people of Ghana, who have lost a beloved leader,” said Victoria Nuland, State Department spokeswoman.
Ghana’s election commission said December’s presidential and parliamentary elections would go ahead as planned. “The election calendar remains unchanged - it’s purely a party matter,” election chief Kwadwo Afari-Gyan told Reuters, explaining that it was up to the ruling National D e m o c r a t i c Congress to find a candidate to replace Mills. Ghana has seen democratic elections decide its leadership no fewer than four times since the last military coup in 1981, a rare feat in a region where power is still just as often determined by the bullet as by the ballot.
A Glance at Ghana’s Recent History:
http://worldnews.nbcnews.com/_ news/2012/07/24/12929632-ghanapresident-dies-unexpectedly?lite&ocid =ansmsnbc11
89 August 2012 Black Business News www.blackbbusinessnews.net
July 1960: Kwame Nkrumah becomes president of the Republic of Ghana, months after a republican constitution is ratified by a referendum. Nkrumah is overthrown after a military coup in February 1966. A u g u s t 1969: A new constitution is ratified leading to a transfer of power to the civilian government of Kofi Busia. Busia is ousted in coup in January 1972 led by Colonel Ignatius (l-r) President Thomas Yayi Boni of Benin and Chairman of the A c h e a m p o n g . African Union, US President Barack Obama, and President G e n e r a l John Mills of Ghana at the G-8 summit.
Frederick Akuffo takes over in 1978. June 1979: Akuffo is deposed in a coup led by Flight Lieutenant Jerry Rawlings. Elections are held and in September Rawlings hands over power to a new president, Hilla Limann. Limann is also overthrown in coup in 1981, again led by Rawlings, after two years of weak economic policies. Rawlings is elected president in November 1992. June 1994: Leaders of Ghana’s warring northern tribes sign a peace accord after fighting erupted in the north in February, pitting landless Konkombas against three allied tribes. Independent sources estimated up to 5,000 people were killed by mid-April. January 2001: Former opposition leader John Kufuor is sworn in as president after Rawlings served the two elected terms he was allowed. June 2007: London-based Tullow Oil Plc says it has found up to 600 million barrels of oil offshore. January 2009: Electoral Commission declares John Atta Mills winner after he defeated Nana Akufo-Addo of the ruling New Patriotic Party in run off presidential elections. July 2009: Visiting U.S. President Barack Obama assures Africa it will not be sidelined from world affairs and hails democratic Ghana as a model for other African countries. December 2010: Mills opens the valves in a ceremony at a floating oil platform off the country’s Atlantic coast. Initial production of around 120,000 bpd will rank Ghana as sub-Saharan Africa’s seventh largest producer. July 2011: Mills is chosen as ruling National Democratic Congress party’s candidate for the 2012 presidential election, defeating Nana Konadu Agyemang-Rawlings, wife of the former president. December 2011: Ghana says it has exported 23.5 million barrels of crude oil from the Jubilee oilfield in its first year of production. Tullow Oil is the lead company of the consortium operating the Jubilee field.
South Sudanese Athlete Runs Marathon in Olympics Without a Team
uor Marial, a South Sudanese refugee who lives and trains in the United States, will be able to compete in the marathon at the London Games as an independent Olympic athlete, officials said Saturday, July 21, 2012. The International Olympic Committee’s executive board approved Marial’s request to run as an independent, ending months of negotiations between the committee and Marial’s representatives. Marial hit the Olympic A standard last October, but South Sudan has yet to form a national organizing committee. He could not run for the United States team because he is not a citizen, and he refused to compete under the Sudanese flag, as its security forces killed 28 members of his family. The men’s marathon was held on Aug. 12, 2012 and Marial was 47th. The Men’s Marathon Gold was won by Uganda’s Steven Kiprotich.
Guor Marial, left, will run independently at the London Games because South Sudan does not have an Olympic committee.
www.blackchristiannews.com/ news/2012/07/south-sudanese-athlete-torun-marathon-in-olympics-without-a-team. html
A Positive Economic Turn Around in the USA is in Our Hands
•Buy Products Made or Assembled in the USA •Hire One New Employee •Eat an Extra Meal Out Each Week •Start/Grow a Business to Generate Wealth & Jobs
Buy Black Save Black Invest Black
RESOURCES FOR GOING GLOBAL Dear International Executive,
f you have any questions about these initiatives, please contact your local U.S. Commercial Service trade specialist. To find the trade specialist nearest you please visit http://www. buyusa.gov/home/us.html. Happy Exporting!
Event Name: WORLD TRADE CENTER San Diego Trade Mission to China Location: Xiamen, Nanjing, Changzhou, and Shanghai, China Date/Time: September 5-13, 2012 Cost: WTCSD Trade Mission: $5,500 Link to register: http://www.wtcsd.org/ asia-desk/access-china-2012 WORLD TRADE CENTER San Diego, with the support of the California State Trade and Export Promotion (STEP), is leading a trade mission to China to promote California exports. The delegation will participate in the 16th Annual China International Fair for Investment and Trade (CIFIT) in Xiamen. The U.S. Department of Commerce’s U.S. & Foreign Commercial Service staff in China will provide briefings and support. The trade mission will also include trips to Nanjing, Changzhou, and Shanghai. Three dynamic cities in the prosperous Yangtze River Delta. Key benefits of the mission: • Qualified California SMEs are eligible to receive $1,000 towards their trade mission participation • Join business/government leaders from throughout California • Pre-arranged matchmaking meetings in each city • Harness the World Trade Center Association’s global network for facilitating international trade • Develop export markets and business opportunities in southern and eastern China, two major hubs for China’s commerce and industry
• Provide exposure for your products and services to visitors from all regions of China and the world during CIFIT • Attend CIFIT’s investment and trade seminars/forums • Gain access to key players and business leaders in China through pre-arranged meetings and matchmaking services • Minimize your costs and time with our travel logistics services and pre and post-fair assistance For questions, or additional information, please contact: Ethan Devine, Asia Desk Manager; WORLD TRADE CENTER San Diego; (619) 615-0868 and firstname.lastname@example.org ************************* Event Name: Free Trade with Colombia & Panama – Tapping in to the Opportunities Location: Institute of the Americas, UC San Diego Campus, La Jolla, CA Date/Time: September 10, 2012, 8am – 1pm (followed by afternoon counseling sessions by appointment) Cost: $50 Link to register: www.iamericas.org [contact USCS Commercial Officer Geoff Bogart; geoffrey.bogart@trade. gov] Join us for a unique workshop to learn from the experts about market opportunities in Panama and Colombia, featuring market briefings and one-onone counseling with the U.S. Senior Commercial Officers who run the Commercial Sections in these U.S. embassies. ************************* Event Name: 4th Annual The Americas Business Forum Location: UCLA Covel Commons Date/Time: September 12-13, 2012; 8:30 a.m. – 5:30 p.m. Cost: $250 for 2-day program; $150 for the conference on September 12 only Link to register: http://www. lachamber.com/webpage-directory/
global-initiatives/the-americasbusiness-forum/ Join the Los Angeles Area Chamber of Commerce, the UCLA Anderson School of Management, the U.S. and Foreign Commercial Service, and the City of Los Angeles to learn about business and exporting opportunities in the Americas, primarily in Latin America during the 4th Annual “The Americas Business Forum – Creating Jobs Through Exports”. On the first day of the conference you will earn what to do and what not to do when doing business in the Americas and hear about the Asian presence in the region. You will also be able to participate in roundtable discussions on economic and political assessments, legal considerations, finance and logistics. A continental breakfast and lunch will be provided. On the second day, individualized one-on-one meetings with U.S. Commercial Service Senior Commercial Officers will be available. For more information, please contact Carlos J. Valderrama at 213.580.7570 ************************* Event Name: EXPO PAKISTAN Location: Karachi, Pakistan Date/Time: October 04-07, 2012 Cost: See link for more information Link to register: http://expopakistan. gov.pk/index.html Every year Trade Development Authority of Pakistan (TDAP) organizes an international trade show ‘Expo Pakistan’, which is the biggest one stop sourcing event of quality products in Pakistan. This year ‘Expo Pakistan’ is being held on October 04-07, 2012 and we would like to invite you to join our US delegation of businessmen/ buyers to visit this event as the guest of Government of Pakistan. The website of TDAP (www.expopakistan.gov.pk) contains additional details about the event. The broad categories of products include: textile, fabrics & apparel, home
92 August 2012 Black Business News www.blackbbusinessnews.net
see Going Global on page 93
Going Global from page 92
Interested in a Career in International Affairs, Foreign Relations, Trade Promotion and Commercial Diplomacy? The U.S. Commercial Service is looking for dedicated professionals to add to its
complement of nearly 250 Foreign Service Officers serving in Embassies and Consulates around the globe. The U.S. Commercial Service of the U.S. Department of Commerce is pleased to announce that it will take applications for Foreign Service Officers starting August 2012 and will hold the Foreign Service Officer Assessment in Winter 2012/2013. The competitive assessment process selects the next generation of commercial diplomats to serve in the US Embassies and Consulates abroad. We are looking to recruit a diverse and well-qualified pool of candidates able to represent the U.S. Government and our country’s international trade and investment interests. To read a detailed description of the position and application process, express your interest and sign up to receive alerts, please visit http:// simplesend.com/simple/t.asp?S=221& ID=55171&NL=5996&N=69348&SI=2 676111&URL=http://www.trade.gov/cs/ employment.asp or e-mail CSCareers@ trade.gov.
********************************** The U.S. Commercial Service - Your Global Business Partner. With offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce’s International Trade Administration uses its global Network and international resources to connect U.S companies with international buyers worldwide. If you have any questions about these initiatives, please contact your local U.S. Commercial Service trade specialist. To find the trade specialist nearest you please visit http://export.gov/ california/ca/socal/index.asp.
93 August 2012 Black Business News www.blackbbusinessnews.net
& décor, food and ingredients, leather goods, surgical & pharmacy, carpets & rugs, Gems & jeweler, auto & auto parts, industrial & engineering goods, information technology and services. ************************* Event Name: Multi-Sector Trade Mission to South Africa and Zambia Location: Lusaka/Ndola, Zambia, and Johannesburg/Cape Town, South Africa Date/Time: Nov 26 - 30th, 2012 Cost: $4,350 for small and medium enterprises, $4,900 for large firms, $450 for each additional firm representative. Expenses for travel, lodging, most meals, and incidentals will be the responsibility of each participant. Link to register: www.export.gov/ trademissions/SouthAfricaZambia The purpose of this trade mission is to deepen trade ties with South Africa and to explore export opportunities to Zambia. The Commerce Department will help U.S. firms find customers and business partners in Johannesburg and Cape Town, South Africa, and Ndola, and Lusaka, Zambia. Targeted sectors for the trade mission are: Electric Power and Energy Efficiency Technologies; Equipment and Services; Productivity Enhancing Agricultural Technologies and Equipment; Transportation Equipment and Infrastructure, and Mining Equipment and Technology **************************** Export Promotion Magazine Offers Free Korean Translation Commercial News USA, the official export promotion magazine of the U.S. Department of Commerce, offers exporters an affordable way to promote their products and services in 178 countries worldwide. In addition to free Korean translation, you can take advantage of a special offer: Buy two ads and get the third ad for free (Based on one-time rates. Does not include Showcase section). Commercial News USA reaches more than a quarter million buyers worldwide. Reserve your space in the next issue today. The deadline is July 20th. For more information, call 1-800-581-8533 x 822, go online to
www.thinkglobal.us, or send e-mail to email@example.com. Follow Commercial News USA on LinkedIn and Twitter @comnewsusa. Sell in 178 Countries for $499 Commercial News USA, the official export promotion magazine of the U.S. Department of Commerce, offers exporters an affordable way to promote their products and services in 178 countries worldwide. Now, you can advertise in the USA Product Showcase section of the magazine for just $499. Commercial News USA reaches more than a quarter-million buyers worldwide in print and 23,000 per month online. Reserve your space in the next issue today. The deadline is July 20th. For more information, call 1-800-581-8533 x 822, go online to www.thinkglobal.us, or send e-mail to export@thinkglobal. us. Follow Commercial News USA on LinkedIn and Twitter @comnewsusa Read the Digital Edition of Commercial News USA The digital edition of Commercial News USA, the official export promotion magazine of the U.S. Department of Commerce is now available online. Commercial News USA, offers exporters an affordable way to promote their products and services in 178 countries worldwide. To read the digital edition, go to http://cnusa.thinkglobal.us **********************************
Thursday Blues at
Uncle Darrow‛s High Noon-2pm Every Thursday
Come by for lunch and relax to blues and jazz from our house band! 2560 S. Lincoln Blvd. Marina del Rey
North East corner of Washington & Lincoln
“LA Times Magazine favorite cajun food”
FAME ASSISTANCE CORPORATION FREE CREDIT MANAGEMENT WORKSHOPS HELD EACH MONTH AT
Order Via the Internet Wines of the Black-Owned wineries of South Africa. Register at TheArtfulGrape.com. The Artful Grape will do the rest. The wines will be delivered to your door.
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94 August 2012 Black Business News www.blackbbusinessnews.net
Nigeria’s Low-cost Tablet Computer
igeria’s Saheed Adepoju is a young man with big dreams. He is the inventor of the Inye, a tablet computer designed for the African market. According to the 29-year-old entrepreneur, his machine’s key selling point is its price - $350 (£225) opposed to around $700 for an iPad. He believes that, because of this, there is a big market for it in Nigeria and elsewhere in Africa, particularly amongst students.
He is also hoping to sell his tablet - which runs on the Google Android operating system - to the Nigerian government and plans to have at least one computer in each local government area. “The Inye is a mobile internet device. It gives you access to the internet; it allows you to play media files and watch movies. What we have is an 8-inch device, a device that is half-way between a laptop and a mobile phone,” he told the BBC’s series African Dream. “You have the standard software applications that come pre-installed and then you have the ones that we are working with various local developers to bundle on,” he added. Among those local apps there is one designed to raise awareness about
‘Word of mouth’ Mr. Adepoju has a background in software development and is a Suncertified Java programmer. After doing a first degree in maths and computer science in Nigeria, he completed another one in advanced computing by research at Bournemouth University, in the United Kingdom. Upon graduation in 2009, he returned to his home country and started working for a consulting firm. “Within eight months I got fired, primarily because of differences in approach to doing business. In the middle of all this, the Apple iPad launched, back in January of 2010, which inspired us to actually look to build such [a] product within the African marketplace,” the entrepreneur told the BBC Africa’s Chris Ewokor. He said that, with that goal in mind, he borrowed money from friends and family, raising a total of about $60,000. According to him, all of that went on the devices and the logistics - there was no budget for marketing, so early advertising was “word of mouth” on social media. The first 100 units of the Inye, which means One in Nigeria’s Igala language, were built in China and, after receiving feedback from its users, a second version was launched in May 2011. Encipher Group, the company he cofounded with web developer Anibe Agamah, also offers customised IT services and products, including cloud computing, which are mostly based on
open technology to keep costs down.
Raising capital According to Mr. Adepoju, the company and the apps it develops are focused on preserving local culture through technology and making products which are specific to the local market. Another product that the firm has been working on is Encipher TV, a box where people can watch African television, plays and films. However, he says that it has not been easy to raise capital in order to develop the business faster. “Here venture capital (VC) is still in its infancy and most VC firms wound want to invest in tried and trusted companies that have gained some form of traction,” he said. “We face the challenge of getting people to listen to the various propositions. We’ve been to a number of private investors and also to the government,” he explained. Not surprisingly, his immediate plan is to “try and raise capital from whatever sources we can get - locally, internationally or privately - and to try and still to push the brand forward as much as we can”. Will his tablet computer succeed in such a competitive environment? Only time will tell but Mr. Adepoju and his colleagues are adamant that it will, not only in Nigeria but also in other African markets. African Dream (www.bbc.co.uk/ news/world-africa-15340893) is broadcast on the BBC Network Africa programme every Monday morning, and on BBC World News throughout the day on Fridays.
95 August 2012 Black Business News www.blackbbusinessnews.net
HIV and others related to water and sanitation. “We work with local developers that have expertise in particular areas so that we don’t end up doing so much work and we just have a collaborative way of doing things together,” he said.
Multi-Sector Trade Mission to South Africa & Zambia
Agricultural, Energy, Transportation, and Mining Technologies Why South Africa and Zambia?
Apply Now, Space is Limited
SOUTH AFRICA is the most advanced, broad-based industry and productive economy in Africa.
- South Africa became the newest country to join the leading emerging market group, BRICS.
Nov 26 - 30th, 2012
Lusaka/Ndola, Zambia, and Johannesburg/Cape Town, South Africa
- In 2011, U.S.-South Africa trade increased 18 percent from its 2009 trade level. ZAMBIA is geographically well placed to become a regional hub as it shares its border with eight countries.
Registration Deadline: Oct. 5, 2012 Cost:
- Zambia was recently ranked one of the fastest growing economies in the world by The Economist Magazine. - Zambia is emerging into focus with a U.S.-Zambia trade increase of 83 percent in 2011 over its 2010 level.
Which Sectors? Electric Power and Energy Efficiency Technologies Productivity Enhancing Agricultural Technologies and Equipment
t $4,350 for small and medium enterprises (<500 employees) t $4,900 for large firms t $450 for each additional firm representative t Expenses for travel, lodging, most meals, and incidentals will be the responsibility of each participant
Transportation Equipment and Infrastructure Mining Equipment and Technology For More Information:
Why Participate? - Welcome reception at the U.S. Ambassadorâ€™s residence - Pre-screened one-on-one meetings with potential partners, distributors, and end-users - Access to South African, U.S. and Zambian government officials
Frank Spector (202) 482-2054 Frank.Spector@trade.gov Larry Farris (2711) 290-3316 Larry.Farris@trade.gov
- Meetings with U.S. Commercial Service industry specialists from U.S. Embassy South Africa and Zambia - Pre-departure briefings
U.S. Commercial Serviceâ€”Connecting you to global markets.
Leimert Park Village An African American Cultural, Retail, Foods & Entertainment Center. Degnan Boulevard between Crenshaw & Leimert Blvds. 43rd Street-43rd Place, Los Angeles
Shop, Eat, Relax in
Little Ethiopia Experience Africa in America
between Pico & Olympic, Los Angeles
Gathers Strategies, Inc. has expanded to new offices.
Our new location is in the heart of Downtown LA at
City National Plaza. Our address is:
Gathers Strategies, Inc. 515 South Flower Street, 36th Floor Los Angeles, CA 90071 USA Phone: 213-236-3554 Fax: 213-236-3501 Please stay in touch!
www.gathersstrategies.com Follow us on Twitter @gathersstrat We appreciate your friendship and support and look forward to our continued association with you.
2012 August 30 - September 2 International Gastronomy Fair
97 August 2012 Black Business News www.blackbusinessnews.net
Culture, Retail, Entertainment
We are pleased to inform you that
U.S. Commercial Service Seeks Comments on Proposed Fee Increase Federal Register Notice details proposal for fee increases
Comments Due: August 14, 2012
he U.S. & Foreign Commercial Service (U.S. Commercial Service) within the U.S. Department of Commerce recently published a notice in the Federal Register to solicit public comment from the business community and stakeholders on proposed user fee increases. The information will be used to evaluate whether the proposed user fee schedule should be implemented; to evaluate options for seeking an exemption from the full cost recovery requirements of OMB to offer a discount to small and medium businesses; and to request for OMB approval
of the pricing methodology. The user fee for both Standard Services and Customized Services will be set at one flat rate per hour multiplied by the estimated number of hours for service delivery to determine full cost. Therefore, the cost of each Standard Service previously offered at one global price will increase, but the service will continue to be delivered in the same manner throughout U.S. Commercial Service global operations. The pricing methodology developed by the U.S. Commercial Service was designed to bring the organization into compliance with full cost recovery requirements set forth by the Office of Management Budget (OMB). The process of developing the pricing methodology involved analysis of actual costs as defined by OMB and level of effort required to deliver each service. The proposed percentage increase on affected services would range from 11% to 171%, depending on the type of service provided. Standard Services that will no longer be offered at one global price include: Business Service Provider; Featured U.S. Exporter, Gold Key Service; International Company Profile; International Partner Service; and Quicktake. For more information and to comment on the proposed user fee changes, go directly to the link at http://www.regulations. gov/#!documentDetail;D=ITA-2012-0001-0001. Please contact Erin Sullivan at Erin.Sullivan@trade.gov if you have questions.
OCTOBER 10-13, 2012
frica Fashion Week Los Angeles (AFWLA) was founded in response to the growing need in the Greater Los Angeles area to provide a platform for established and emerging African designers to showcase their talents to a broad audience, as well as to raise awareness about human rights issues that are currently being faced in several African countries. We define African in diasporic terms, which includes designers and affiliates with links to the African continent from all parts of the globe. AFWLA is committed to exhibiting collections of excellence and we aim to provide potential buyers with a diverse array of looks that can be incorporated into
future seasons. AFWLA will be a multifaceted week long event that will include runway shows, industry networking mixers, vendor exhibitions, and more. The event, tentatively scheduled for October 2012, will link international partners, local buyers, agents, editors, celebrities, and industry insiders to the vibrant fashions that Africa has to offer. Information for designers, sponsors, attendees, etal is at www.afwla.org.
Social Investment AFWLA is committed to using our platform to raise awareness and impact a change in Africa. This year, AFWLA is partnering with The MacDella Cooper Foundation as our non-profit
beneficiary. The MacDella Cooper Foundation (MCF) is a 501(c)(3) international charitable organization dedicated to providing youth, especially orphans and abandoned children, with an education and the basic necessities of food, clothing, and shelter. Their vision is to give as many Liberian children as possible the chance to escape the poverty cycle and grow in the nurturing environment of an MCF Academy, so that they can lead Liberia toward an economically strong and politically stable future. For more information visit: www.macdellacooper.org.
98 August 2012 Black Business News www.blackbbusinessnews.net
SAVE THE DATE!! 3rd Annual Pan African Global Trade & Investment Conference (PAGTC) September 6 - 7, 2012 California State University Dominguez Hills
The Decade of the African Diaspora (January 1, 2010 - December 31, 2020)
For PAGTC 2012 Information Packet contact:
Al Washington, Conference Organizer 626.321.7041 or firstname.lastname@example.org www.panafricanglobaltradeconference.com
99 August 2012 Black Business News www.blackbbusinessnews.net
Africa: FOCAC V Brings Billions More
eijing hosted the Fifth Forum on China-Africa Cooperation (FOCAC) on 19-20 July with the usual dash of multibillion-dollar promises. President Hu Jintao outlined a set of five new pledges to Africa. The first was on finance and includes US$20 billion in assistance to the continent, double the amount pledged three years ago in Sharm el Sheikh, Egypt, in 2009. The theme of this year’s meeting was - to ‘build on past achievements and open up new prospects for the new type of China-Africa strategic partnership’. Yet, with little competition, China finds it hard to outdo itself every three years at the FOCAC meetings. Ahead of the summit, Zambia’s Foreign Minister Given Lubinda advised African countries to form a united front instead of competing separately for attention from Beijing. Despite such calls for unity, the 2012 Beijing Declaration showed no signs of an African united front. Although no formal audit exists on the fulfilment of China’s pledges to Africa at FOCAC, the general consensus is that they have been delivered. According to President Hu, the Chinese government has cumulatively built more than 100 schools, 30 hospitals, 30 anti-malaria centres and 20 agricultural technology demonstration centres in Africa. Beijing has also successfully rolled out US$15 billion in preferential lending, trained close to 40,000 African personnel in various sectors and provided more than 20,000 scholarships to students from African countries. But analysts still argue that FOCAC will be of only limited effectiveness if the institution does not include a monitoring body or engagement and follow-up from the African counterparts.
Africa’s Largest Financier In addition to becoming Africa’s largest trading partner, these loans
will make China Africa’s largest financier, ahead of the World Bank and International Monetary Fund. Hu said the move was designed to stop ‘the big bullying the small, the strong domineering over the weak and the rich oppressing the poor’. The loans will go towards supporting infrastructure, manufacturing and the development of small businesses. Yet China Export-Import Bank, the usual instrument for rolling out the Chinese credits announced at FOCAC, is not a micro-financier and the bank’s minimum loan amount is far in excess of what most small African businesses can hope to manage, so this presumably refers to Chinese small businesses. The second pledge this year is training. Beijing will launch an ‘African Talents Programme’ to train 30,000 people in various sectors and set up vocational training centres. It will also offer 18,000 government scholarships, send 1,500 medical personnel to Africa and continue with the ‘Brightness Campaign’, which provides free cataract treatment to African patients. The third pledge is to build infrastructure partnerships. The fourth is people-to-people exchanges. These so-called ‘friendship actions’ promote exchanges between Chinese and African journalists and researchers, among others. The final pledge relates to security, led by the Initiative on China-Africa Cooperative Partnership for Peace and Security. While China has maintained its focus on African infrastructure, Chinese
Commerce Minister Chen Deming announced that such projects would now be approached from a regional perspective, rather than bilaterally as has been the case. China usually focuses on bilateral ties, leaving Japan to take the lead on multilateral forms of engagement. Although African diplomats universally praised China’s moves, the businessman and analyst A.L. Kitenge Lubanda of Congo-Kinshasa’s Synergy-Group suggested that the promise to double loans is a small measure and that Beijing could afford to do much more. Several new deals that will boost
China-Africa trade were developed outside of the confines of FOCAC. China Development Bank officials announced in early July that the China-Africa Development Fund, which encourages smaller Chinese companies to invest in Africa, would have an additional $2 bn. to spend after investing its first $1 bn.
100 August 2012 Black Business News www.blackbbusinessnews.net
Tell the US Government that North Africa is Africa Too!
oin with and support the United Africa Organization’s campaign to petition the U.S. Department of State to include the whole African continent under its Bureau of African Affairs.
Why? The State Department’s Bureau of African Affairs, led by Assistant Secretary Johnnie Carson, currently excludes Algeria, Egypt, Libya, Morocco, Tunisia and Western Sahara from its agenda. Instead, the aforementioned countries are grouped with the Bureau of Near Eastern Affairs, together with Iran, Iraq, Israel and others. This artificial distinction between North Africa and the rest of Africa
negatively impacts US foreign policy relations throughout the entire continent of Africa. We unequivocally reject the argument that North African countries are outside the scope of African affairs. North Africa is geographically and historically part of the African continent, and all fifty-three (53) independent African states, including North African countries, are represented in the African Union (AU). It would be far more productive for the State Department to engage with the entire continent of Africa, including North Africa, under its Bureau of African Affairs. We are one Africa, from the Cape to Cairo, indivisible and bound together! Therefore, no square inch of African
land should be excluded from African affairs.
Sign The Petition!!! Go to www.change.org/petitions/ one-africa-tell-us-state-departmentthat-north-africa-is-part-of-africa and sign the online petition to support this important proposition. Next tell everyone you know to sign. www.uniteafricans.org
Bernahu Asfaw or Getahun Asfaw
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101 August 2012 Black Business News www.blackbbusinessnews.net
Jamaal Wilkes Financial Advisors, LLC M a n a g i n g We a l t h I n t e l l i g e n t l y
WHY OWN GOLD IN YOUR IRA/401k Changing jobs creates a great opportunity for you to switch, or rollover, your former employer’s retirement plan into an IRA. Plus, it usually provides you with more investment options than if you left the money in your former employer’s plan or rolled the money into your new employer's retirement plan. The early 1980s presented a once-in-a-lifetime opportunity to buy stocks. Today, economic and political conditions appear to offer a similar opportunity in tangible assets such as physical gold. With the global economic environment growing more uncertain, physical gold has become the #1 alternative for IRA, 401k, 403b, and Pension Plans, as well as for non-retirement funds. Gold is produced primarily for accumulation while other commodities are produced primarily for consumption. Gold’s value does not arise from its usefulness in industrial or consumable applications. It arises from its use and historical worldwide acceptance as a store of value. Gold is money. A healthy measure of gold clearly belongs in every portfolio for the “Four Ps” – Personal Purchasing Power Protection. There are six primary reasons why investors own gold: As a hedge against inflation. As a hedge against a declining dollar. As a safe haven in times of geopolitical and financial market instability. As a commodity based on gold’s supply and demand fundamentals. As a store of value. As a portfolio diversifier. According to Bloomberg.com, on October 15, 2009, Paul Tudor Jones of Tudor Investment Corp, who manages about $11.6 billion out of Greenwich, Connecticut, told its investors, “I have never been a gold bug… but Gold is just an asset that, like everything else in life, has its time and place. And now is that time…Gold appears to be cheap. In our view, gold’s value should increase as its scarcity relative to printed currencies increases.” JAMAAL WILKES FINANCIAL ADVISORS makes 401(k) rollovers easy with just a few simple steps. Please call us at (310)209-8298 or email firstname.lastname@example.org for a web seminar presentation. Jamaal Wilkes Financial Advisors is an independent Registered Investment Advisor www.jamaalwilkes.com Phone: (310)209-8330 6601 Center Drive West, Suite 500 Los Angeles, CA 90045
102 August 2012 Black Business News www.blackbusinessnews.net
From-Jamaal Wilkes Financial Advisors, LLC:
Why do so Few Investors Seem to Understand the Silver Story? By Peter Cooper
t is a mystery story really: why do so few investors seem to understand the case for silver? After all, the track record is formidable. Silver prices have risen 10-fold in a decade, out performing gold and pretty much any other investment available to the ordinary investor. You would need to have been a private equity investor like Mitt Romney to have done better or some kind of hedge fund rocket scientist trading derivatives in a favorable market. Silver is a boring lump of metal and anybody could have owned it. Those who did, and held their nerve during the volatility, are laughing.
Tempus fugit The die-hards who miss every major investment call through excessive caution would now have it that silverâ€™s game is somehow up. Industrial use will plummet in another global recession producing a panic crash in the silver price. Well yes we saw that in 2009, except that silver prices rebounded faster than almost anything else and went to record a record high of almost $50 in April 2011. They then corrected by half and have been trading in a narrow range ever since, the classic market correction before another price advance. So if we have already seen the silver price have a major correction recently why should it do so again if the rest-of-
the-world decides to do the same? Or if it does then why should it be anything so dramatic? In short, this time the volatility factor favors investment in silver rather than argues against it. Some serious investors probably will catch on to this point very soon and indeed the technical data from the futures market suggests those bets are already being placed. The stage for another very powerful upswing in silver is being set.
$50-60 target Readers of Arabian Money will recall the predictions in the Old Dubai Gold Souk of $50-60 silver by September. We doubt this will be far wrong and it may be that these prices are reached in advance of a global financial crash of some variety in October that pulls silver down again. Will silver then correct back to current prices or are these prices a floor in the market that will not be seen again. We wonder. With so much money printing by global central banks, currency instability and the banking system under severe pressure, silver is bound to shine sooner or later. The latecomers to this investment party will then ask themselves why they did not understand the silver story earlier. ď ƒ
Books to Consider... Doing Business by the Good Book: Fifty-two Lessons on Success Straight From the Bible by David L. Steward
ur prayer for this book and our newsletter is that they help, inspire and guide you in your business endeavors. Whether you are an inspired entrepreneur, loyal
employee or committed home-maker, God has a glorious plan and destination just for you -- one that is limited only by your faith and corresponding actions. “I believe in applying biblical principles to all my life, because it’s not about what’s right for business. It’s about what’s right. Our whole life is God’s business!” – David L. Steward In each of the 52 short chapters (one for each week of the year), David illustrates through personal anecdotes and supporting scriptures the lessons he learned as he built World Wide Technology, Inc. from $0 to $1.2 billion in less than 14-years. “David Steward has demonstrated how to apply Biblical principles and Christian ethics on a daily basis while
David L. Steward
Malik’s Books Online
see Books to Consider on page 105
Eso Won Books African American Books 4327 Degnan Boulevard Leimert Park, Los Angeles
Available Now! And check out our unsurpassed collection of books, music, video, children’s books, and games!
323-294-0324 www.esowonbookstore.com //esowon.booksense.com for Calendar of Events
alik’s Books has closed operations in the Baldwin Hills Mall. Malik’s is now operating as an online bookstore. Malik’s is now available to serve our customer’s needs 24/7 via the world wide web with bigger deals and a larger selection. We will remain as active in the South Los Angeles community as we have always been. Please visit us at www.Malikbooks.com and/or www.autographbooks.com. For other information give us a call at 818-5645694. If you want to coorespond with us, send letters to Malik’s Books, 3939 Crenshaw Boulevard, #324, Los Angeles, CA 90008. Thank You again for all your support and patronage over the years and visit us on the Web.
Malik’s Books www.Malikbooks.com www.autogrpahbooks.com email@example.com 818-564-5694
104 August 2012 Black Business News www.blackbbusinessnews.net
Books to Consider from page 104
doing business with integrity.” —Reverend Jeremiah A. Wright, Jr., Senior Pastor, Trinity United Church of Christ, Chicago, IL www.bythegoodbook.com
BRAND: YOU - Personal Branding for Success in Life and
Business by Julius E. Rhodes, SPHR In 1994 Mr. Rhodes began the mpr group, a broad based human resources consulting firm providing customized training, consulting and project management services. Mr. Rhodes has facilitated numerous human resources related activities in manufacturing, health care, consumer products and electronics, information technology, educational and the cultural arts for public and private firms in the profit and not-for-profit sectors. He has combined the knowledge, training and insight garnered throughout his career to produce a guidebook for small business and personal branding. BRAND: YOU – Personal Branding for Success in Life and Business examines these critical issues from the following four areas: • The Principles of Brand Establishment • Promoting Your Brand • Challenges to Your Brand • Change, and • Presenting Your Brand The text concludes with an afterward that examines the issue of, where do we go from here and provides a strategic template of actions needed to establish and solidify your brand. Presented in a highly practical and experiential format this book is an
Julius E. Rhodes
essential read for anyone who wants to gain further insights into the benefits of personal branding in order to obtain the success we all want on a personal and professional basis. The 2nd Edition of “BRAND: YOU”, has just been released and contains updated information including content on presentation skills in face-to-face and electronic situations. To place an order for the book ($16.95), please visit the CONTACT US section of the MPR Group web site - www.mprgroup.info.
105 August 2012 Black Business News www.blackbusinessnews.net
Returning to Africa? African Repatriation is an invaluable online resource for any African national who is thinking about returning to Africa. Our industry articles and specialist editorials provide the latest sector information. Why not find out for yourself and become a part of our growing community today? www.africanrepatriation. com
Watch & Support the
Time Warner • Comcast Don’t have the ASPIRE Channel in your area? Call Time Warner at: 1-888-892-2253 and ask that the ASPIRE Channel be broadcast to ALL regions of your state. For information on the ASPIRE Channel visit www.theafricachannel. com or send an e-mail inquiry to firstname.lastname@example.org.
Career Opportunities in Africa Search and apply online for the latest vacancies in Africa with African Talent. We provide candidates and employers with the tools and resources needed in today’s competitive job market. For employers, we offer numerous options to feature your jobs in Africa and for candidates, reviewing the most recent job vacancies in Africa is a fast, easy process. Uploading your CV is simple and takes just a few moments. www.africantalent.com 106 August 2012 Black Business News www.blackbbusinessnews.net
BLACK MEETINGS & TOURISM DIGITAL MAGAZINE
he digital version of Black Meetings & Tourism magazine is available on-line. The current issues, as well as archived issues, can be viewed by visiting www.blackmeetingsandtourism. com and click on the image link located on the home page.The digital version is just a small part of BM&T’s expanded on-line presence, which includes a host of new departments, the twice-monthly e-newsletter, an increased focus on leisure travel, and many new marketing opportunities. The newly designed website offers a guest blog page, a video page and a variety of interactive and custom advertising products that will allow vendors direct access to the more than 45 billion dollar AfricanAmerican travel market.
Tuesday, September 11th “For everyone interested in doing business with Metro”
Watch & Support the Africa Channel! Time Warner • Comcast Don’t have the Africa Channel in your area? Call Time Warner at: 1-888-892-2253 and ask that the Africa Channel be broadcast to ALL regions of your state. For information on the Africa Channel visit www.theafricachannel. com or send an e-mail inquiry to email@example.com.
Black Business News View the International Edition at www.bbala.org and www.blackbusinessnews.net
107 August 2012 Black Business News www.blackbbusinessnews.net
Reach Thousands of the Nation’s Most Influential African Americans
ess Adm 2007 A inistra tion WARD W “Journ alist of INNER! the Yea r”
YOUR LINK TO AFRICAN AMERICAN BUSINESS ENTERPRISE The Black Business Association, SBA 2007 Journalist of the Year, is pleased to invite you to be an integral part of our publication. Black Business News - Your Link to African American Business Enterprise throughout the nation. The Black Business News is the ofÀcial voice through which public and private entities advertise contract opportunities available to black business enterprise. Gain access to a highly afÁuent target market via outreach and advertising opportunities. • Outreach to Black Businesses • Advertorial/Feature Story Advertising • Profiles and Business Listings • Classified Ads and Bid Opportunities
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Our readers are BBA members, Black business owners, corporate buyers, prime contractors, community organizations and elected ofÀcials, who all turn to the Black Business News for business development news and information to take their business and project efforts to the next level of proÀtability and success!
In Th vember 2008 is Iss ue…
5 Co ver S tory: we g Wher o e do Barack from h er Obam USA. a, 44th e? Preside 6 Bla nt of the ck Bu sines Profi s Succ le Dicker ess 9 Fo son Employee reclo sure Benefits $8.68 R 31 Sm Billion Settleme elief nt. all Adm Business inistr Online Train ation ing for
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Reserve Your Ad Space Today! Call (323) 291-9334 Deadline: Every third Friday of the Month! 50% Discount for Regular Financial BBA Members Advertising Opportunities Full Page Color w/Feature Story Full Page Color Half Page Color w/Feature Story Half Page Color Quarter Page Color Eighth Page Color Business Card Ad/Listing
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Calendar August… 8th - 9th USDOC Export Regulations Seminar This workshop explains the Export Administration Regulations and Export Management Compliance Program. This program is well suited for those who need a comprehensive understanding of their obligations under the Export Administration Regulations (“EAR”). Visit www.regonline.com/bis2012la for information and to register.
9th - 11th 17th Annual Ron Brown Business and Economic Summit The California Black Chamber of Commerce and Foundation event in San Diego will feature exploration of business and contract opportunities within the California High Speed Rail development project. The all day Youth Summit will take place on the 9th. Go to www.calbcc.org for details.
20th - 24th Leon H Sullivan Summit IX 2012 The 9th Africa Rising international business conference will be held in Malabo, Equatorial Guinea. Go to www. thesullivanfoundation.org for details.
24th - 26th
information visit www.panamagastronomica.com.
30th - 09/3rd Black Enterprise/Pepsi Golf and Tennis Challenge Call (800) 209-7229 or REGISTER at www.blackenterprise.com/gt.
September… 5th - 13th Trade Mission to China The delegation will participate in the 16th Annual China International Fair for Investment and Trade (CIFIT) in Xiamen to promote California exports. Please contact: Ethan Devine, Asia Desk Manager, WORLD TRADE CENTER San Diego, (619) 615-0868 or email@example.com.
6th - 7th 3rd Annual Pan African Trade and investment Conference For information contact: Al Washington at 626.321.7041 or alwash9727@aol. com or visit www.panafricanglobaltradeconference.com.
25th - 27th Minority Enterprise Development Week Conference The 30th anniversary MED WEEK conference will be held at the Omni Shoreham Hotel in Washington, DC. For information visit www.medweek.gov.
10th - 13th African Fashion Week Los Angeles The event will link international partners, local buyers, agents, editors, celebrities, and industry insiders to the vibrant fashions that Africa has to offer. Information for designers, sponsors, attendees, etal is at www.afwla.org.
11th 9th Annual Black Business Association Procurement Exchange Summit Features: One-on-One Matchmaking Appointments, Business Development Workshops, and the Annual Awards Luncheon. Omni Hotel, Los Angeles. Go to www.bbala.org for details.
November… 26th-30th USDOC Trade Mission to South Africa and Zambia SOUTH AFRICA is the most advanced, broad-based industry and productive economy in Africa. ZAMBIA is geographically well placed to become a regional hub as it shares its border with eight countries. Registration deadline is October 5, 2012. Go to www.export. gov/trademissions/SouthAfricaZambia for information and registration.
February 2013… 7th-18th Pan African Film Festival Details are available at www.paff.org.
Black Business Network Convention 2012 Come experience the biggest weekend of Black business training ever, along with the inspiration, the motivation, the networking and more in Atanta, GA! www.BlackBusinessNetwork.com.
30th - 09/2nd Panama Gastronomic 2012 Market your gastronomic products and services at this international fair. For 109 August 2012 Black Business News www.blackbbusinessnews.net
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