Black Enterprise

Black-oriented business magazine.

Articles from Vol. 38, No. 6, January

A Community Affair: Jason Knight Helps Members Manage Their Finances
[ILLUSTRATION OMITTED] WHEN JASON KNIGHT WENT LOOKING FOR SOLUTIONS TO get out of debt, he instead uncovered a business opportunity. The CEO of the San Francisco-based startup Wesabe (www.wesabe.com) created an online community where people could...
A Piece of the Action: To Attract Top Chefs to His Sushi Restaurant, This Entrepreneur Used Equity as an Incentive
ANDRE WILLIAMS WAS IN A TIGHT SPOT. WHILE WORKING for a large software company in Chicago, he saw the firm's market capitalization plummet 99%. Sweeping layoffs were the norm, and morale couldn't be lower. It was the beginning of the high-tech meltdown....
A Winter Tune Up: Recommendations to Help You De-Stress from Holiday Pressures
AFTER THE DEADLlNES, BUDGETS, AND EVEN THE seasonal celebrations, it's time to start the process all over again. Before you begin scheduling a new set of appointments, take time out to refuel. A new year should introduce a new you. And we have spa...
Backtalk: With Sheila Johnson
OFTENTIMES, THE VOICES OF those in need go unheard. But Sheila Johnson is listening. It may come as a surprise that the multifaceted entrepreneur has the time for much. She operates a real estate development company, is part owner of the NHL's Washington...
Bad Time for Banking: Raymond Stewart's Portfolio Takes a Hit
WHO KNEW? AT THE TIME RAYMOND STEWART, PRESIDENT and chief investment officer of RASARA Strategies Inc. in Briarcliff Manor, N.Y., selected a portfolio of banking stocks in October 2006, the subprime lending crisis had yet to be revealed (see "Stock...
Barack Obama for President
No one asked if America was ready to see a black man in Major League Baseball. It wasn't--until the right man, Jackie Robinson, accepted the challenge and made the most of it, and in the process changed our nation forever and for the good. Nor did...
Before You Hit Send: Crafting Workplace E-Mails to Avoid Mishaps
A decade ago, Barbara Pachter told students, "E-mail is a word document that can and will come back to haunt you." "They [just] laughed. It was this new technology, and people didn't know its implications," she says. Pachter, an etiquette expert and...
Content Kings
There's an old saw among media professionals: Content is king. That attitude reverberates through every corridor, office, and conference room at BLACK ENTERPRISE. For decades, we have provided vital information to help improve your financial and business...
Don't Lie to Me: Dishonesty Can Ruin Professional and Personal Relationships
"LYING PROVED TO BE ONE OF THE WORST COPING mechanisms I've ever chosen," says Jayson Blair. Blair is the infamous New York Times reporter who resigned his position in May 2003 after admitting he plagiarized and falsely reported stories during his...
Get Fit on a Dine: Resolve to Be Healthy-And Wealthy-This New Year
NEARLY 43 MILLION PEOPLE ARE MEMBERS OF HEALTH clubs across the United States, according to the International Health, Racquet, and Sportsclub Association. "The first few months of the year are a popular time to join fitness clubs," says Rosemary Lavery,...
Get the Right Mix
[ILLUSTRATION OMITTED] "IT'S TIME FOR A CHANGE." AS the calendar turns to 2008, it's more than likely that you've made such assertion--whether it's about your diet, job, or even relationships. But you might want to add your finances to the list....
Jump Ship on Your Wireless Contract: Leave Your Cell Phone Carrier without Paving a Fee
The cell phone industry tops the Better Business Bureau's consumer complaint list with more than 28,000 complaints filed with the agency last year. It's not surprising that the typical two-year contract can feel more like a prison sentence for many...
Keeping It Green: Urban Planner Uses Business to Push Her Environmental Ideals
[ILLUSTRATION OMITTED] FOR MANY ENTREPRENEURS, THE NO. 1 CONCERN IS ADDING clients at any cost. But for Charnelle Hicks, it's more important to build an evironmentally responsible business, even if that has meant turning down work. "When I started...
Lee-Chin Sells Wealth Management Co.: Billionaire Shifts Investments to the Caribbean
MICHAEL LEE-CHIN OFTEN APPLIES THE WORDS OF A Canadian proverb to investing. "To be successful you have to make sure that you are where the puck is going." In August, Lee-Chin decided that the puck was no longer with Berkshire-TWC Financial Group Inc.,...
Looking for Values: The Housing Slump Has Beaten Up Some Stocks Unfairly. Take a Look before They Rebound
[ILLUSTRATION OMITTED] AS SOME OF THE MAJOR FINANCIAL INSTITUTIONS ON Wall Street post billion-dollar losses and even show their chief executives the door, the reality is that the subprime lending crisis is still at its earliest stages. The resulting...
Master P Makes It Happen
[ILLUSTRATION OMITTED] PERCY "MASTER P" MILLER HAS BEEN NAMED PRESIDENT of Udub Music, Urban World Wireless' digital music label. Miller will be responsible for marketing and branding the label as well as recruiting and developing a roster of independent...
Money in the Middle: Eric McKissack Says Investors Shouldn't Overlook Mid-Cap Stocks
[ILLUSTRATION OMITTED] Stock markets and families may have more in common than meets the eye. In both cases, the biggest and smallest members get the most attention, while those in the middle can often go unnoticed. So it was in 2007, a year when...
No Straight Lines: How Video Visionary Julien "Little X" Lutz Creates His Images
HE DOESN'T HAVE CLEAR RECOLLECTION, BUT his mother says he's been drawing since the age of 2. It's not hard for Julien Lutz to believe, though. As long as he can remember, creating images on paper has been his passion. In fact, he drew all the way...
Opportunity Investing: Africa, Megacaps May Offer a Great Balance of Risk and Reward
INVESTING IN AFRICA AND THE MIDDLE EAST THE EMERGING MARKETS IN AFRICA AND THE MIDDLE EAST HAVE TOO often been synonymous with corruption, volatility, or both. But T. Rowe Price has decided the potential rewards of investing in countries from Bahrain...
Politically Correct: How This Professional Protects the Legislative Interests of Her Company
How do you navigate the dynamic worlds of media and politics? Washington and Hollywood are both company towns. My division at Viacom deals with governmental policies and issues, while Hollywood is in the business of entertainment. Relationships...
Retirement in Black and White: We All Need to Help Close the Racial Wealth Gap in America
THE HEADLINE FROM THE LATEST Ariel-Schwab Black Investor Survey is that blacks are moving backward, not forward when it comes to achieving financial freedom. That was certainly a wake-up call for me, and I hope for all of us. Since this year marked...
Strength in Numbers
NO ONE CAN DISPUTE THAT AFRICAN AMERICANS represent an influential demographic that drives style and consumer trends. In fact, the buying power of African Americans is projected to grow to $1.1 trillion by 2011. Marketing communications giant Starcom...
The 'In-Crowd' Online: Professionals Take Networking to New Levels
Whatever your interests, or the Internet you're guaranteed to find a network of people who share them. Music free software, Goth culture? No problem. Increasingly, professionals are also finding their way to social networking sites such as Facebook.com....
The Next Generation: African Americans Are Successfully Launching Businesses Earlier in Life. Here Are Some Who Are Making Strides in Their Industries
WHO'S WAITING AROUND TO GROW up? Now more than ever, age is becoming less and less the qualifying factor in starting a business. Young people want to be their own bosses and aren't waiting to do so. Generation Y (born between 1981 and 1995) is three...
Touch and Go
THE HTC TOUCH SMARTPHONE HAS BEEN CALLED any number of names since it was unveiled in the European market earlier this year, "iPhone's rival" being just one. It's finally made it to our shores, and if size really matters to you, then it might have...
Tough Ride in Top Seat: From Forced Resignations T0 Planned Successions, CEO Turnover Remains High
IN ONE WEEK THE NUMBER OF BLACK CEOS OF the nation's top publicly-traded companies fell by two. Merill Lynch CEO Stanley O'Neal was ousted for making a bad bet on mortgage-backed securities. In an unrelated act, Richard Parsons announced he was retiring...
What's the Black Travel Market Worth?
THE AFRICAN AMERICAN MARKET IS ONE OF THE TOP three fastest growing markets in the travel industry, generating annual revenues of more than $40 billion. Ranked as the most stable and resilient market segment, African Americans are three times more...
Where Did It All Go? Nancy Nealious Made Some Missteps in Managing an Inheritance
[ILLUSTRATION OMITTED] NANCY NEALIOUS HAS BEEN THROUGH a lot in a short time--and it's taken a toll on both her emotions and finances. Just 26, she's been so stressed that her hair is falling out. Her most significant loss came in August of 2006,...
Why Barack Obama Should Be President: Six Reasons America Will Elect Him to the Whitehouse
[ILLUSTRATION OMITTED] ROUGHLY 9,000 DEMOCRATS PACK into Veterans Memorial Auditorium on a chilly mid-November night in Des Moines, Iowa. The attendees of the annual Jefferson Jackson Dinner percolate with excitement, wildly waving banners and cheering...
With a Smile: Customer Service Affects Every Aspect of Your Business
Providing an excellent consumer experience is essential to building and maintaining a thriving business. Poor customer service is among the top reasons customers desert businesses, never to return, according to a study by the Small Business Administration....
Without Consent: Compensation Sought for Victims of North Carolina's Sterilization Program
WHEN MARY ENGLISH, OF FAYETTEVILLE, NORTH CAROLINA, was 22, a routine trip to the doctor left her infertile. The doctor told her "they had a procedure and if I went with this procedure, I wouldn't have to worry about birth control," recalls English....