Date: November 20, 2000
Topic: #1 in November 2000 Series
Author: William Reed
Article ID: article_ema112000a

Business Briefs for Blacks

Compiled for African American Press in the tenet that business informationproduces economic power

Black political leaders and community activists have been running acrossthe country saying, "The Black Vote makes a difference!" The realityis that if we aren’t in the cash flow we are simply voting for someonewho’s already in somebody else’s pocket.  Both parties doubledtheir record soft money takes in the 1995-96 election cycles.  Almostall corporate donors are "double-dippers", equally giving to bothparties.  What do you think the Democrats/Republicans’ Chairman’sCircle fat cats expect in return for their $500,000 or more contributions? Do you really think that voters’ post-November wishes will beable to countermand those of the nation’s fat cats?

The race between Democrats and Republicans for control of the White Houseand Congress cost over $3 billion.  The NAACP Voter Fund spent $10 millionthat was donated to the organization for Black Voter education, registration and to get out the vote.   

President Clinton has called on Congress to give workers a $1 raise in theminimum wage over two years.  He reports that more than 10 million Americanswork for the current $5.15 minimum wage.  Seventy percent are adults,60 percent are women.  In many cases these are the sole breadwinners,raising a family on $10,700 a year.  The dollar an hour raise is likelyto be passed and will increase these workers’ hourly wage, providingthem $2,000 more a year.

A study by the Economic Policy Institute says the prosperity many Americanfamilies enjoy is due not only to rising wages, but also to having more membersof their families working.  This is especially true among black and Latinofamilies.  An average middle-class family’s income rose by 9.2percent, after inflation, from 1989 to 1998.  But they also spent 6.8percent more time to reap it.  The additional family time in the workplaceis attributed to more women working.  While only 40 percent of adultwomen worked in 1969, today a record 60 percent of women are in the work force. Blacks have gained job market share with a record low unemployment rateof 7.2 percent.  (The national "full employment" rate is 5percent) With the additional family member work participation, black familieswork an average of 9.4 hours more per week than their white counterparts.

Looking for work?  Logging on-line is becoming the preferable step towardwhite collar jobs.   Check onto job-info sites such as: Monster.com.and headhunter.net

Dan Rather, Tom Brokaw and Diane Sawyer each have annual salaries of $7 millionor more.  However, according to the Radio-Television News Directors Association(RTNDA), the median salary of the typical news anchor is $45,000 – thoughthe range is $14,000 to $950,000, depending on the size of the viewing market. Weather forecasters earn an average $40,000; sportscasters, $35,000;and reporters, $24,000.

 (The Black Business Exchange accepts information via mail at: 2054National Press Bldg., Washington, D.C.  20045 - e-mail at: [email protected])

Compiled for African American Press in the tenet that business informationproduces economic power

BET expects to be seen a lot more this year.  The black-owned entertainmentcompany, which reaches more than 60 million American homes, dished out $12million in paid advertising to promote its network programming.  Lastyear the company spent only $5 million.  The larger advertising budgetwas used in 20 markets across the nation to support BET’s increase inoriginal programming in the Fall 2000 lineup.   BET also has increasedthe fees it pays stand-up comedians on its 10th season of the "ComicView"series.  Comics receive $1,000 each for appearing on the show, comparedto the $150 they were paid in the past.

Make Your Airline Flight Less Stressful
To make your air travel more efficient and relaxed, it’s recommendedthat you: 1) Fly Early In The Day –Early morning flights are less likelyto be delayed or cancelled; 2) Check With Your Travel Agent Or The InternetFor The Next Available Flight To Your Destination – Know your optionsif your scheduled flight is delayed or canceled;  3) Build In Extra Time– You might not make your connecting flight, especially during peaktravel times;  4) Arrive At Least One Hour Early; 5) Carry Your PhotoID Where It Can Be Reached Easily – Do not pack ID or travel or businesspapers; 6) To Register A Complaint – Call the Department of Transportationat (202) 366-2220 or write to: Aviation Consumer Protection Division, C-75Room 4107, 400  7th Street, SW, Washington, D.C.  20590; 7) UseThe Web – Get information on flight delays at www.fly.faa.gov on theWeb.

With today’s high gas prices, here are some tips to get the most ofevery drop: 1) Fill Your Tires Filled Up – Inflate them as prescribedby the owner’s manual; 2) Change Oil, Spark Plugs and Filters As Recommended;3) Stop Speeding – Driving 65 mph rather than 55 increases gas consumption20%; at 75 mph it jumps 25% more; and 3) Buy The Proper Octane Gas –Use gas as recommended by owners manual.

Check out a new guide from the Consumer Literacy Consortium for 66 usefultips like these:  Save 50% or more by buying generic drugs, not brandnames; Shop around for the best bank interest rates at Web sites like www.money.com,www.quicken.com and www.consumerworld.com.  For a free copy, send a self-addressed,stamped envelope to "66 Ways To Save Money," Dept. P, P.O. Box 12099,Washington, D.C.  20005-0999, or visit www.pueblo.gas.gov.

Edward Lewis, co-founder and publisher of "Essence Magazine" hasbeen elected to the board of directors of the Great Atlantic & PacificTea Company (A&P).  The food store giant operates 750 stores and65 franchises in 16 U.S. states, the District of Columbia and Ontario, Canada.

(The Black Business Exchange accepts information via mail at: 2054 NationalPress Bldg., Washington, D.C.  20045 - e-mail at: [email protected])

Compiled for African American Press in the tenet that business informationproduces economic power

The Financial Assistance Network has published a booklet, "Credit –Your Financial Power Tool", that includes information on how and whereyou can get credit even if you are having problems paying bills and instructionson how to legally rebuild your credit.  The 48-page booklet covers allaspects of credit.  It is available for $5.  Write: Financial AssistanceNetwork, Credit Book Offer, Dept. CR-0801, P.O. Box 60944, Washington, D.C. 20039-60944.

Charles Allen, a 52-year-old Detroit-based businessman, has been electedto a second three-year term as chairman of AAA.  Co-founder of GraimarkRealty Advisors, Inc. and former president of First Independence NationalBank of Detroit, Allen is a native of Atlanta who attended Morehouse College. Allen is chair of a 20-member board that controls AAA operations with83 clubs and 42 million members.

High-tech gadgetry now meets high-impact worship at Bishop T.D. Jakes’mammoth, $32 million sanctuary in southwest Dallas.  Built to accommodatea congregation of more than 26,000, the church has over 200 seats that have200 data terminals so worshipers can download sermon notes and Microsoft PowerPointpresentations on laptop computers.

The so-called "digital divide" between blacks and whites is narrowingin the U.S., with the number of blacks who use the Internet almost doublingin the past year, a recent poll shows.  Still, 50 percent of whites nowhave access, compared to 36 percent of blacks, says the Pew Internet and AmericanLife project report.  Women have led the fourth in the black populationgoing on line, and out number black men.  Black women make up 56 percentof the black on-line population.  One-third of blacks with access goon line on a typical day, compared with 56 percent for whites.  

College graduates who entered the work force this past summer got recordstarting salaries.  Computer  Science, $46,765; and Engineering,$47,001  graduates led the pack.   Among other job categories,graduates in Education got $38,999; Sales and Marketing, $34,840; Businessand Management, $36,041; Accounting and Finance, $35,591; and people enteringCommunications/Media got $28,802.  The average American worker’sannual pay is $31,908.

Minister Louis Farrakhan has called for each American family to contribute$100 a year to a economic development fund that will assist in urban developmentand renewal efforts across America.  The head of the Nation of Islamasks that contributions be sent to: The Million Family March Economic DevelopmentFund, c/o Seaway National Bank of Chicago, P.O. Box 19522, Chicago, IL  60619.

Texaco, Inc., the White Plains, NY-based oil giant, subject of a multi-milliondiscrimination lawsuit brought by African-American employees, has been boughtout by San Francisco-based Chevron Corp. for $35 billion.  The combinedcompanies create the world’s fourth-largest publicly-traded oil company.

© 2002 William Reed - www.BlackPressInternational.com