Black Enterprise

Black-oriented business magazine.

Articles from Vol. 39, No. 9, April

Add Punch to Your Portfolio: Investing Heavyweight Wayne Weddington Wants to Teach You the Hedge Fund Industry's Best Defensive Moves
DO YOU RECALL YOUR MOTHER'S ADVICE ABOUT HOW a single piece of bad fruit doesn't condemn everything in the produce department? That's how former hedge fund executive Wayne P. Weddington III feels about Bernard Madoff and his alleged multibillion-dollar...
A Home to Call Our Own: Jessica and Joseph Bembry Are the Winners of Our Fourth Annual Homeownership Contest
[ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] JOSEPH AND JESSICA BEMBRY HAD PLENTY OF REASONS to give thanks this past Thanksgiving--two days earlier they had closed on their first home. Despite the financial crisis, the couple was able to purchase...
A Woman's Guide to Wealth Preservation: Don't Sit Back and Let Someone Else Decide Your Financial Future
[ILLUSTRATION OMITTED] PRESERVING WEALTH is often an afterthought, but to truly ensure that your wealth lasts, you need to give thought to preservation at the time you begin building wealth. Financial experts agree that the fundamentals of any wealth...
A Woman's Wealth
When BLACK ENTERPRISE last featured the topic of women and money management in 2003, we boldly declared, "A Man Is Not a Plan." This year, we're reinforcing that message by showing women how to take control of their financial future in a special three-part...
Backtalk with Chef Leah Chase
CHEF LEAH CHASE IS CREDITED WITHIN THE CULINARY world as bringing Creole cuisine--a blend of African, Spanish, Caribbean, and French influences--to the front burner. For more than 60 years, locals, tourists, and notables alike (including President...
Black Enterprise Exclusive: Interview with President Barack Obama: The Nation's 44th President Discusses How He Plans to Fix the Economy and Strengthen Minority Business
[ILLUSTRATION OMITTED] ON A CHILLY WINTER NIGHT, I RECEIVED A CALL on my BlackBerry that most journalists wait for their entire career. "I'm just calling to let you know that BLACK ENTERPRISE will be the first black publication to get an interview...
Business without Borders: How to Run a Company Abroad
INCREASINGLY, AFRICAN AMERICAN ENTREPRENEURS ARE looking beyond U.S. borders to do business. And thanks to technology, the opportunities overseas have never been greater. From voice-over-IP (VoIP) to Web 2.0 applications, for those who dare to venture,...
Create Your Own Economic Stimulus Plan
As our editors closed this issue, President Barack Obama was in the process of making good on a number of his campaign promises. In whirlwind fashion, he unveiled planks of his audacious economic program. He signed the American Recovery and Reinvestment...
Dealing with a Large Tax Bill: Having Trouble Paying the IRS? Consider These Options
AFTER DE'LANTE A. RAWLS, 34, LEFT his job as an insurance agent in 2002 to open his own agency, he was hit with a $7.000 tax bill because he hadn't withheld taxes on his self-employment earnings. When he couldn't pay the entire bill immediately, he...
Finding Redemption: Chef Jeff Overcomes His Past and Helps Others Do the Same
[ILLUSTRATION OMITTED] JEFF HENDERSON, BETTER KNOWN as Chef Jeff, knows about success. At 44, he's already served as one of the country's premier executive chefs, authored a bestselling book, and sold the rights to his life story to blockbuster...
Finding Shelter from the Storm: Stock Mutual Funds Were All Wet in 2008 Here's Where to Invest Now to Avoid Getting Soaked
[ILLUSTRATION OMITTED] When comes to wealth building most investors would prefer Never to hear (or read) another word about 2008. And frankly, We agree. But in order to move forward, it's important to face up to the past. So now might be a good...
Global Dividends: BE 100s CEO Sees the Value in Thinking (and Doing Business) Internationally and Encourages Small Businesses to Do the Same
CHALLENGED TO GROW HIS REAL estate investment firm amid a slumped market and economic recession, Quintin E. Primo III has set his sights overseas. "Business opportunities are abroad in emerging economies such as China, India, and Saudi Arabia,"...
Heading Back to the Big Easy: Glenda McKinley Says New Orleans Still Has a Lot to Offer Visitors and Business Professionals
[ILLUSTRATION OMITTED] IT'S THE MOSAIC OF CULTURES, CUISINES, NEIGHBORhoods, and architecture that makes New Orleans a jewel of a city. There is a litany of discoveries--from the decadence and European charm of the French Quarter with its cobbled...
In a Time of Crisis, We Must All Step Up
We are closing in on the symbolic 100th day of the presidential administration of Barack Obama, and America has witnessed a standard of leadership that is as rare as the complexity of the crises confronting our nation. Facing daunting economic challenges...
I Will Survive: Crises of All Kinds Require a Clear-Headed-But Flexible-Program of Action. What's Your Plan?
THE BEAR MARKET THAT BEGAN LATE IN 2007 TURNED into a full bore stock market crash last fall. It is important to distinguish between the two. A bear market is a prolonged, substantial downturn--typically 15% to 20% over several months. A crash, on...
Keeping the Brand Sacred: A Hospitality Veteran Shares How Standards and Consistency Build and Maintain Credibility in the Marketplace
[ILLUSTRATION OMITTED] What's your perception of the value and function of standards to a brand? We have standards within Four Seasons to make sure the customer experiences the same high level of service at all times. We have learned that one...
Make Lemonade from Lemons: Turn Your Investment Losses into a Sweet Tax-Time Advantage
DON'T FEEL TOO BAD IF YOUR BASKET OF STOCKS AND mutual funds turned sour last year. The average stock fund lost nearly 40% in 2008. The favorite stocks of mutual fund managers, such as ExxonMobil, GE, and Microsoft, all suffered double-digit losses....
Minding Their Money: Shannon and Bill Nash Are Serious about Managing Their Household Finances
[ILLUSTRATION OMITTED] Principle No. 3 I will effectively manage my budget, credit, debt, and tax obligations WHEN SHANNON NASH AND HER HUSBAND, Bill, got married in 1996 they began holding regular meetings about their finances. At the time,...
Not Quite a Bull's-Eye: Target-Date Funds Make Investing Easy, but They Sometimes Miss the Mark
[ILLUSTRATION OMITTED] IMAGINE AN INVESTMENT THAT MAGically adjusts itself over time to reflect your financial needs--as you approach retirement or as your child gets closer to college. With this miraculous tool, your only duty would be to add money...
Outsmart! A Competitive Advantage Keeps Customers Loyal and Rivals at Bay
WHEN MONICA G. COLEMAN AND JAMARR E. RAWLINSON opened their barbershop, they wanted it to stand out from the crowd. So rather than set up shop and wait for customers to come to them, they took their Lithia Springs, Georgia-based business on the road...
Regaining Your Balance: Move on from Last Year's Steep Losses by Realigning Your Portfolio
YOU KNOW THE GOLDEN RULE OF INVESTING; BUY LOW, sell high. But putting this old axiom into practice when it comes to balancing a portfolio means summoning the courage to sell winning investments and buy others that have plunged. After 2008's tumultuous...
Resistance to Changing the Status Quo: After Decades of Discrimination Protests, Will a Civil Rights Attorney Finally Force Change in the Advertising Industry?
WHILE THE NEW FACE OF PENNSYLVANIA Avenue in Washington, D.C., reflects today's multicultural society, the business community of Madison Avenue bares almost no resemblance to its immediate environment--considered one of the most culturally and ethnically...
Staring Down Disaster: Sound Planning Can Provide Life Support to Small Businesses When Catastrophe Strikes
[ILLUSTRATION OMITTED] FOR DAYTON, OHIO-BASED COMTACTICS L.L.C., 2008 WAS TURNING OUT to be a banner year. The five-year-old marketing and Internet solutions firm, which develops Websites, logos, and videos, finished 2008 with $540,000 in sales...
Stash Your Cash: Three Ways to Safeguard Bank Deposits That Exceed the FDIC Limit
THE SHAKY FINANCIAL FOOTING OF some big banks might be causing you concern. There were 25 bank failures last year, including Washington Mutual, the largest bank failure in U.S. history. Even so, the best advice is not to panic. "As long as your money...
The Angst of Acquisition: Distribution Company Thrives despite Rocky Transition
[ILLUSTRATION OMITTED] WINSTON MCDONALD SAYS HE NEVER really saw himself as a corporate man, even though that was where his career path veered. "Everyone in college talked about working 20 or 25 years for a company, but in the back of my mind I...
What's New for '09: Netbook the Big Hit at Consumer Electronics Show
BY NOW, WEBSITES AND BLOGS have reported ad nauseam on January's Consumer Electronics Show (CES) in Las Vegas. Much has been made of the roughly 10% drop in attendance, shorter taxi lines, and reduced hotel rates; and subsequent news that Microsoft...
What's Your Next Move? Making the Switch from For-Profit to Nonprofit
AN UNPRECEDENTED DEMAND FOR SOCIAL SERVICES, a rapidly retiring workforce, and a shortage in experienced successors all contribute to a growing employee deficit in the nonprofit sector, reports The Bridgespan Group, a strategic consulting firm serving...