African American Unemployment Rises 700% More Than White

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

This weekend, I was on the radio with Rev. Jesse Jackson. He'd just completed a march in Detroit, for jobs, peace and justice, only to find that his SUV was stolen upon arrival. But when I asked him if he was OK, his response was quite telling of the leader that he is: He simply said that the car doesn't matter at all when there are so many people suffering across America.
Well, the nation-wide suffering for African Americans has just intensified with the recent unemployment data delivered by the Bureau of Labor Statistics. It's most recent report showed that while white unemployment only went up from 8.6 percent to 8.7 percent, black unemployment went up from 15.6 percent to 16.3 percent. This increase of seven percent is at a rate that is 700 percent of the increase of white Americans.

 

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Kodak Pays $21 M for discrimination

• Kodak Set to Pay $21.4 Million in Racial Discrimination Lawsuit

  6:40 PMSep 4

  Source: BV on Money

  I'm not sure if the company's executives would consider this to be a Kodak moment, but it's certainly a moment in racial history. Kodak, the large film company based out of Rochester, New York, just had a racial discrimination suit settled for the ... Read More

• Regina King to the Emmys: Racist as Ever

  6:00 AMSep 4

  Source: Blackvoices Main

  From The Huffington Post: Since the Emmy ceremony, I have been going back and forth about whether or not I should compose this letter. I try hard in my daily life not to engage in uncomfortable situations regarding race. But sometimes it's very ... Read More

• Tom Joyner Helps HBCUs to Start Online Programs

  12:35 AMSep 4

  Source: BV on Money

  Radio show host Tom Joyner has decided to start making investments in the educational arena. Joyner has announced that he will help found a company designed to support Historically Black Colleges and Universities (HBCUs) in their quest to create ... Read More

• Sean Bell's Fiancee May Run for City Council

  8:26 PMSep 3

  Source: BV Black Spin

  Nicole Paultre-Bell, the young woman who lost her unarmed, would-be husband Sean Bell on the day before their nuptials nearly four years ago in an out-of-control hail of police bullets, is mulling over possibly running for the position of Queens City ... Read More

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

by Dr. Boyce Watkins, Syracuse University 

 

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

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

 

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How to Teach Your Kids About Money

by Dr. Boyce Watkins, Syracuse University 

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

 

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Bad Financial Decisions of Fantasia

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

One of the most magnificent voices in all of music is owned by Fantasia Barrino, the singer out of North Carolina. Most of us know that Fantasia attempted suicide recently. Of course the suicide attempt led to instant national media attention, and she was all over the news telling her story. Her management team, understanding the value the incident could have for her brand, pushed out the Vh-1 special before you could say the words "publicity stunt."
Now, I'm not here to say that I know what happened to Fantasia or whether the suicide attempt was genuine. But one thing that remains fundamentally true is that she'd been highly upset over the decline of her career. Also, we know that the television specials and additional PR from the incident have put Fantasia in the limelight in a way that far exceeds what she had access to last month. The final thing we know is that Fantasia is working furiously in the studio to get an album out in order to profit from the re-establishment of her celebrity status. Unfortunately, her team may be looking to replicate the experience of Jennifer Hudson after her difficult experience last year.

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

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

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

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