New York Trend NYC: August 5-11, 2021

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NEW YORK TREND Serving New York City, Nassau & Suffolk Counties

NYC

THE ALTERNATIVE PERSPECTIVE

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NEWMAYOR YORK TREND DAVID DINKINS, REP. CHARLES RANGEL, Serving New York City, Nassau & Suffolk Counties

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THE ALTERNATIVE VOLUMEPERSPECTIVE 26 ISSUE 40

Since 1989 NYC $1.00 newyorktrendnyc.com

December 17, 2015 - December 23, 2015

VOLUME 31 ISSUE 17

Since 1989

August 5th, 2021 - August 11th, 2021

C E L E B R AT I N G HONORED WITH LIFETIME ACHIEVEMENT AWARDS 30

B L AC K-W H I T E W E A LT H G A P The Black Stars News 2015 Annual Widened During PANDEMIC Awards Dinner will honor Mayor

YEARS!

York and a former chancellor of the New York public schools system.

A new analysis from the Center for friends. Essentially, Black households  Among Black households that David Dinkins, Rep. Charles Pioneering producers Stephen American Progress thatClarke, the long- substituted more debt for limited borrowed from family and friends, 43.9 Rangel, Rep.shows Yvette Byrd and Alia Jones, through their standing wealth gapBarbara hurt emergency savings, widening the wealth percent canceled their postsecondary R. Black-white Donahue Peebles, Eliminating the Black-White company Front RowWealth Production, Black households’ abilityBarron, to weather the gap between typical Black and white plans, and another 12.9 percent Arnwine, Inez Sabrina Gap’s work over the course of 2020. brought “Cat on a Hot Tin Roof” COVID-19 pandemic. It also describes decided to take fewer classes. In Lamb, Dr. Rudy Crew, Stephen families. Those solutions include: Named Desire” and “A Streetcar how, without policy interventions, the comparison, 29.1 percent of white Improving access to unbanked and Byrd, Alia Jones, and the Central The fortunes of Black and white with a multi-ethnic cast to pandemic may lead to a widening of the households that mainly used their homeowners diverged during the underbanked households through postal Park Five survivors of gross injustice wealth gap between Black and white income for expenses decided to pandemic. A much larger share bankingBroadway. In 2016 they bring on December 18 from 6:00pm – of Black homeowners than white Americans. cancel their postsecondary plans, and “Eclipsed” Oscar Winner Increasing accesswith to federal research 10:00pm at MIST Harlem, 46 West another 10.1 percent decided to take homeowners—17.6 percent versus 6.9 Lupita Nyong ’O to Broadway. Even before pandemic, centuries and development funding for Black 116ththe Street. of policy choices by federal, state, innovators and inventors Honorees, the so-called Central “Each honoree led chosen and local governments to thefor Providing support forand Black A group of people walk past the "Dream in Flight" mural in Philadelphia— Parkadditional 5, are collectively typical recognition Black household holding has demonstrated entrepreneurs to start and grow part of the city's Mural Art Program—on September 17, 2013. individually heroes. Theytheir are just one-tenth of theleadership wealth of and vision in exceptional businesses survivors of one of the ugliest David Dinkins Charles Rangel the typical her white or hishousehold. respective In profession or Establishing greaterofaccess miscarriage justicetoin New York’s “Wealth Matters: The Black-White retirement savings through a national endeavor and in some significant history; having been railroaded majority. She now leads The was a member of the New York Wealthmeasure Gap Before During the saving plan hasand contributed towards and unjustly convicted for a crime Transformative Justice Coalition. City Council, representing the Pandemic,” authors Christian E. Investing in early childhood care and creating a more just society in this th theytodid notcosts commit and for which Weller and Richard Figueroa find that Arnwine was for 26 years executive 40 council district in Brooklyn, education lower and increase says Black Blackhouseholds Star News during country,” the pandemic, they served long prison sentences director of the Lawyers’ Committee succeeding her mother, Una S. income stability founder andemergencies publisher Milton th faced more financial with ranging from seven years to 13 years for Civil Rights Under the Law. T. Clarke. In the current 114 Providing financial support for higher Allimadi.resources, “Obviously much fewer economic resulting in work before being exonerated when the Congress Clarke serves on Inez Barron, honoree, formerly aeducation to shrink the wealth gap needs done here and a widening gapto in be economic opportunity actual rapist confessed. They are: the Energy and Commerce State Assembly member, is nowthrough lower debt burdens and higher around thewhite world.” between Black and households. Yusef Abdus Salaam; Raymond Committee, responsible for a New York City council membercareer earnings Key findings include: The gala starts at 6:00pm with a Santana Jr., Antronand McCray, Kevin Increasing homeownership consumer protection, food and a champion of education for  Manycocktail more white than by the hourhouseholds to be followed protecting housing assets from climate Richardson, and Kharey Wise. safety, energy development, public our youth. Black households were ableceremonies. to use change dinner and awards There health, communications, the The Black Star News, which focuses their savings theentertainment pandemic to fillby Honoree Imhotep Gary Byrd is “If left unchecked, the pandemic may will beduring musical environment, and interstate and on investigative journalism, has financial gaps left by job losses and/ a legendary radio talk show host result in the Black-white wealth gap opera singer Cassandra Douglas international commerce. been featured as a result of some if or higher health care costs. While 45.9 and executive producer, radio DJ,growing even larger,” said Weller. “The fromhouseholds harmonica that phenomenon percentand of white saw its news scoops, on CNN, The New Photo Credit: Getty/Corbis/Frédéric Soltan R. Donahue Peebles, honoree, is poet, songwriter, music recordingwealth gap is the result of policy choices Galison. David is a drop William in job-related income used Dinkins their York Daily News, The New York a leading developer and founder of artist and producer, rapper, writerdating back to centuries of slavery, Lifetime Achievement savingshonored to pay forfor current expenses, percent—fell behind on their mortgage fewer classes. Again, less access to Post, The Village Voice, and Brill’s The Peebles Co., the nation’s largest and community activist. He begandecades of Jim Crow policies, and — he was New York City’s first from August 2020 to March 2021. only 30.6 percent of Black households emergency savings often translates to Content magazine. African American-owned real his careerfrom as afriends radioand DJ in Buffalodiscriminatory policies that continue and also Homeownership among African did so. African Similarly,American more whitemayor households more borrowing family, estate firm with $3.5 billion worth pastStar andNews present don’t Pastthe Black honorees at ageopportunities, 15. For overand 30 less years, he’s today. But than Black households—28.5 percent to theAmericans welcomed Nelson Mandela fewer future grew moreunder slowly development than of properties have to be our future. Policymakers have included: Gil Noble (Like It versus city 18.8after percent—used savings been a talkfor show at WBLS and economic mobility Blackhost households, his releasetheir in 1990. it did for white households during can choose to shrink and eventually or management — he was one when they were out of work due to Is), Rep. Maxine Waters, Soledad compared withradio whiteinhouseholds. WLIB New York City. He the pandemic. Black Americans Charles Rangel, also honored close the wealth(CNN), gap. The of the developerswho health Rep. reasons. O’Brien Ms.Biden Camille Cosby, were less ablepioneering to take advantage of also has a Friday night radio talk The new CAP analysis makes the administration has already made for Lifetime Achievement, has helped around  During the pandemic, a higher historically low turn interest rates.and Therevitalize Black Voza Rivers (New Heritage Theatre), show onthe WBAI. case that given sheer size of the meaningful steps in the right direction, served Congress since 1971. He homeownership is the once-blighted percentage of in Black households rate stoodAnacostia at 44.1 Errol Louis (NY1 News), Amel Black-white wealthSabrina gap, it would take Honoree Lamb, founderbut truly closing the wealth gap and recipient of The had to aborrow money than Bronze white medal for in Washington, D.C. percentneighborhood by the end of 2020, almost Larrieux a wide range of policy measures addressing Black(Entertainer), families’ lack Dr. of William of World of Money, is a champion helping save soldiers behind enemyequal toA the households. For example, 44.5 percent champion of African-American 44 percent rate at the Pollard (Medgar Evers College), across of anfinancial extendedliteracy period of to shefinancial security and opportunity is a fortime youth-of whiteline households that used savings during the Korean War. end of economic 2019. In comparison, the white empowerment Peebles’ eliminate is it, including direct targeted Herm Edwards (NY Jets), Nayaba to pay for expenses also borrowed teaches knowledge about handlinggenerational challenge that will require homeownership rate rose from 73.7 contemplating a possible run for NYC financial transfers to African Americans Rep. Yvette Clarke is a Democratic Arinde (Amsterdam News), La-Verna on credit cards, and 16.1 percent money, budgeting and planning. sustained momentum from all levels of percentmayor to 74.5inpercent 2017. during the to overcome their inherent wealth member of the US House of government over (Columbia the coming University), years and Fountain borrowed from family and friends. In same time period. Simply put, Black disadvantages across generations. Dr. Rudy Crew, honoree, is one of decades.” Representatives from New Lillian Roberts (DC37), Desiree Dancy Honoree Arnwine, comparison, more Black households households faced Barbara more obstacles to civil The brief also takes a look at steps th the nation’s leading educators. He’s York whose 9 district covers Read the issue brief: “Wealth Matters: (New York Times), Greg Floyd (Local rights a champion of in this situation borrowed money, with becoming andlawyer, stayingishomeowners the Biden administration can take The Black-White Wealth Gap Before much of central Brooklyn. Before 237), Rev. Al Sharpton (National president of Medgar Evers College 45.8 percent taking out loans and 28.5 protecting voting rights of ethnic to close the racial wealth gap, based because they had less money to fall and During theNetwork), Pandemic”and by Christian Congress in 2007, percententering borrowing from family and she back on. Action many others. of The City University minority groups — the emerging on the National Advisory Councilof onNew E. Weller and Richard Figueroa

INSIDE T HIS ISSUE: IS SUE : INSIDE THIS

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PAGE 8 A HEALTH EQUITY REVOLUTION

December 17, 2015 - December 23, 2015

August 5, 2021 - August 11, 2021

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PAGE 10 CELEBRATING 30 YEARS

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