Vol. 50 No. 52
April 16, 2020 -April 22, 2020
Power concedes nothing without a demand. It never did and it never will. Find out just what people will submit to and you have found out the exact amount of injustice and wrong which will be imposed upon them and these will continue till they have resisted either with words or blows or words or with both. The limits of tyrants are prescribed by the endurance of those whom they suppress. âFredrick Douglass (1849)
Black Businesses Matter, But Will They Get Fair Share Of Olympian is target of racial slurs COVID-19 Aid Money? during USA Fencing Zoom chat Publisherâs Corner
Publisher of The San Bernardino AMERICAN News
Email: sbamericannews@gmail.com
Clifton Harris Editor in Chief
By Derrel Jazz Johnson
By Barrington M. Salmon, Contributing Writer, The Final Call @bsalmondc
Olympian Nzingha Prescod attends The Women's Sports Foundation's 39th Annual Salute To Women In Sports And The Girls They Inspire Awards Gala in New York City. (Photo by Michael Loccisano/Getty Images for Women's Sports Foundation)
President Donald Trump and Congressional leaders announced the $2 trillion economic stimulus packageâthe Coronavirus Aid, Relief, and Economic Security (CARES) Act to great fanfare, touting the deliverables of different aspects of the provisions and their belief in its ability to slow the economic tsunami exacerbated by the novel coronavirus pandemic. One of the major selling points is a $1,200 one-time payment to adults. The pandemic has cut a wide and deadly swathe through communities across the country, overwhelmed the medical infrastructures of places like New York City, Detroit and New Orleans, and brought much of Americaâs economic activity to a standstill. At press time the grisly tally in the U.S. stood at 356,942 confirmed cases and more than 10,524 deaths. New York is still the epicenter with more than 122,031 confirmed cases and almost 4,159 deaths. In a desperate effort to blunt the spread of Covid-19, state governors have ordered as many as 230 million people to stay home, which has brought commerce to a virtual standstill. Along with the sudden and brutal decline of the much vaunted, record-setting stock market, the economy began a freefall dragging with it jobs, businessesâlarge and smallâ and the destinies and fortunes of tens of millions of American workers. Compared to other small business owners, African Americans have generally had to face more daunting challenges such as smaller cash reserves to draw from, difficulty in securing bank loans and other financing and being sole proprietors or âmom and popâ establishments that are ineligible for most small business loans. Businesses, big and small, have been savaged, with the hardest hit sectors being the travel and hospitality industries and the retail sector. Financial planner and wealth manager Ivory J. Johnson
acknowledged that Covid-19 has shaken up U.S. businesses and hit Black customers hard. âItâs having a tremendous effect,â he said. âCash flow just stops. Ten percent retail, 10 percent of restaurants, 20 percent of the population just stopped. This is the end of the business cycle, weâre at peak employment where wages go up, corporate money gets squeezed and they fire Bob,â he explained. âPeople didnât have time to pivot. For Black business, access to capital may not be there and Black customers are going to be hit very hard. Itâs going to be a challenge for all businesses. You have to figure what you need to do now.â He characterized the relief package as, âkeep the light on money,â likened the U.S. economy to a Ponzi scheme with the U.S. government printing money âout of thin air,â and said now that corporationsâwho are carrying between $4 trillion and $10 trillion worth of debtâface an economic reckoning, the realization is dawning that the way theyâve been doing business is untenable. âThey are now seeing that this isnât sustainable,â said Mr. Johnson, who for the past two decades has helped families and small businesses create and protect wealth, and who has guided them to see the benefits of developing a financial gameplan. âNobody ever shoots Santa. People donât care and werenât complaining when they were making money.â Mr. Johnson said the Covid-19 pandemic merely accelerated what has been happening to the economy, just at a slower rate. âHereâs the reality: what happened is that they are creating money out of thin air, buying assets, feeding the Ponzi scheme,â he said. âThey were rigging earnings, strip-mining stocks and buying back stocks, while the Federal Reserve pushed down interest rates and have been buying bonds and assets.â Mr. Johnson, who founded Delancey Wealth Management. LLC in 2012, said 35 percent of
small businesses couldnât sustain a three-month shutdown, while 70 percent wouldnât survive past six months. He said the country is staring at the abyss. The unemployment rate during the Great Depression was 25 percent and financial experts are predicting that unemployment figures could reach that figure before all this is done. In late March and early April, about 10 million Americans filed for unemployment. The next jobs figures are expected to be considerably higher. Veteran labor organizer Bill Fletcher, Jr. said there are a couple of layers to consider when contemplating the effect coronavirus will have on African Americans. âOne is the question of the impact of the crisis on Black America and Black businesses. One of the things that weâre going to have to deal with in this country, irrespective of race, is going to be trauma,â he said. âI think that it will have a particular type of impact on Black Americaâlooking at illnesses and a further elimination of wealth, along the lines of 2008 crash,â added Mr. Fletcher. âAfrican Americans never really recovered from the housing crash and economic meltdown and that reality is going to be a very important factor for Black people, especially since the U.S. may be going into some form of depression,â said Mr. Fletcher, former president of TransAfrica Forum and a senior scholar with the Institute for Policy Studies. âI saw a report last week that shows the Washington metropolitan area could lose 35 percent of small businesses. Add a layer of race onto thatâlower savings rates and profit margins and most small biz not able to sustain themselves for three months and the problem becomes clear.â What comes out of this crisis will be equivalent to the aftermath of a war, he said. âItâs not like coming out of a recession with the infrastructure intact. Even if the number of
people who die isnât as high, weâre looking at high levels of devastation economically,â Mr. Fletcher explained. Marc Morial is one of a number of critics who donât believe the package goes far enough and said he and others in the Civil Rights and business communities will have to push just as hard as they have to ensure that more is done for African American businesses. He said he doesnât have to look too far to see the impact of the pandemic on small Black businesses owners in New York, where he lives. âMy barber is closed down. Thatâs where three people work. Itâs their livelihood,â he said soberly. âEvery barber shop, every hair salon has been closed down.â Mr. Morial, president and CEO of the National Urban League, said he, other Civil Rights organizations and their allies fought fiercely to ensure that Congress wouldnât pass a bill that completely ignored African American businesses at perhaps their time of greatest need. âThe $2.2 trillion recovery relief plan is a down payment,â Mr. Morial told The Final Call. âIn the best case scenario, it will offer two months relief for small business owners and four months relief for unemployed worker. There is a need for them to go back. We fought hard in discussions, along with the Congressional Black Caucus (CBC), to ensure, for example that lending platforms would be open to non-profits, sole proprietors and mom and pop stores.â âThe language is broad and inclusive, and the execution may take a while. We have to lean in on this opportunity hard. African American business owners shouldnât sit around and wonder if they should apply. Apply! We have to put pressure on the process for it to serve us.â Mr. Morial said, âThere will definitely be a need for more money and weâre working with Rep. Karen Bass to see what the (continued on page 6)
Nzingha Prescod is a two-time Olympian, having competed for Team USA in both the 2012 and 2016 Olympic Games as a fencer. In 2015, she became the first Black woman to win an individual medal at the world championships. Sheâs also a graduate of the prestigious Ivy League, Columbia University, which boasts President Barack Obama and Lauryn Hill as alums. But on Tuesday evening, during a Zoom session organized by USA Fencing with about 70 people, none of Prescodâs accolades seemed to matter. She was instead met with racism. The 27-year-old decorated athlete tells theGrio that she and USA Fencing Sports Performance Manager Brandon Dyett became victims of repeated racial slurs during the call that was sanctioned by the fencing organization.he Zoom session, she says, was created to encourage members of USA Fencing to interact with each other while quarantine due to the coronavirus pandemic. âI was really excited about the session because it was a celebration of our world championship win in 2018 and we were going to stream our gold medal finals, which is one of the highlights of my career,â Prescod tells theGrio. âI was really excited to watch it and celebrate it and talk to viewers about it and engage with them.â But the Zoom session, which featured about 60 fans in addition to USA Fencing athletes, staff and a coach, went sour almost immediately. âTwo or three minutes after the session began, someone in the chat wrote ânigger, nigger, nigger, nigger!'â Prescod recalled. âI didnât see it at first. I wasnât monitoring the chat. But when I did click on the chat, someone wrote ânigger, nigger, nigger, nigger!â âI wasnât the first person to see it. Other people saw it and didnât say anything, and I think they were trying to hush it up and act like it wasnât happening and try to delete it as soon as possible.â But as the call continued, so did the racial slurs. âI couldnât believe what I saw and I was appalled,â Prescod said. âI was literally speechless. My jaw dropped. I couldnât believe it because this is right in my face on Zoom. Iâve been fencing almost 20 years and I
consider this community my family. It was a really traumatizing and terrorizing experience. Itâs literally a crime.â Prescod spoke up during the Zoom session, but said no action was taken. âWhatâs going on?â she asked. âThis is crazy! I canât believe this. For anyone who thinks racism is not real or that it doesnât exist anymore, here you go!â Prescod felt a range of emotions as the racial slurs continued intermittently throughout the entire length of the session, which was an hour. âThis is incredibly mean because Iâve literally sacrificed my whole body for this sport. I had a hip replacement last month,â she said. But again, nothing was done. âAre we going to end the call?â Prescod asked. The call, however, continued. âOne of the US fencing officials said they were trying to remove the person from the Zoom sessionâ she said. âI was visibly very disturbed. I was about to cry. It was very clear that this was negatively affecting me. But we proceeded with the call and the person wasnât removed from the Zoom session.â Everyone in the session ignored the racial slurs, and, remarkably, questions about fencing continued. And so did the slurs. âEveryone turned a blind eye to it at my expense,â Prescod said. âI had thoughts to leave the session, but decided to stay because I know thatâs what was expected of me,â she said. But later, she felt conflicted. âI felt like a punk for not getting up and leaving the session,â she said. On Thursday, two days after the incident, USA Fencing issued an official statement regarding the celebration gone wrong. The initial statement did not mention the Black team members on the call. âIt wasnât an authentic or substantial apology,â Prescod argued. USA Fencing later followed up with a second statement. âUSA Fencing is deeply disturbed by a recent Zoom session with U.S. National Team members, where an attendee directly aggressively targeted one of our Olympic athletes, Nzingha Prescod, and a staff member, Brandon Dyett, with racist and (continued on page 2)