Baker Botts and Official Black Wall Street to Provide $10 Million in Legal Services to Support Black Entrepreneurship

Embarking on the path of entrepreneurship, one of the most expensive costs that business owners can incur is legal expenses. In efforts to help Black entrepreneurs amid the COVID-19, or the novel coronavirus, pandemic, the Official Black Wall Street organization, a platform and directory for Black-owned businesses across various sectors within the United States, is teaming up with Baker Botts, an international technology and energy firm, to provide financial support for legal service for Black-owned businesses.

Baker Botts announced the news this week with the firm promising to commit $10 million in free legal services over the course of three years for members within the organization. “Over the past several months, we have had the opportunity to conduct a series of listening and learning sessions across our offices and with our colleagues,” said Baker Botts Managing Partner John Martin in a press statement.

“We must acknowledge the pervasive racial inequality in our society, take ownership of it, and take action to contribute something enduring to solve the problem. This strategic collaboration is one small step in that direction. Providing equitable access to legal services is a necessary part of ensuring that Black-owned businesses thrive.”

“We are excited to work with Baker Botts and their extensive network of talented attorneys,” said Founder and CEO of Official Black Wall Street, Mandy Bowman in a press statement. “Black entrepreneurs often lack the exposure and resources needed to grow a business. Familiarizing Black-owned businesses with these services will benefit them and empower the Black community through economics and ownership.”

 

 

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We’re proud to announce today that we entered a strategic collaboration with @officialblackwallstreet, an organization with a membership of more than 5,500 Black-owned businesses globally, to provide legal support to the organization’s member businesses. The firm has committed to providing $10 million of free legal services over the course of three years, contributing to the growth and development of the organization and its member businesses. “We must acknowledge the pervasive racial inequality in our society, take ownership of it, and take action to contribute something enduring to solve the problem,” said Managing Partner John Martin. “This strategic collaboration is one small step in that direction. Providing equitable access to legal services is a necessary part of ensuring that Black-owned businesses thrive.”

A post shared by Baker Botts (@bakerbotts) on Sep 16, 2020 at 6:40am PDT

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This Black Student Loan Strategist Wants To Help Black Student Loan Borrowers With New Book

According to a 2016 Brookings Institute report, Back students on average owed $7,400 more than white and other POC counterparts upon graduation. Another study conducted in 2018 also found Black students held 85.8% more debt than white students. As economic resources become more scarce under the COVID-19, or novel coronavirus, pandemic, many are looking for more financial resources to help them ease their debt. Finance expert Dr. Tisa Silver Canady is bringing her answer to the problem with a new book meant to help Black student loan borrowers.

The financial wellness advocate is helping more student loan borrowers get control of their debt with the release of her new book, Borrowing While Black, which discusses different ways for Black and other marginalized groups to take control of their debt.

“Not everyone is good at virtual studying, not everyone has a strong Wi-Fi connection, not everyone has a quiet space to learn,” Dr. Canady said in a press statement.

“The pandemic is absolutely going to affect the success of students, and any disruptions stand to affect Black students even more because they are already more vulnerable. It may mean they have to repeat classes, stay in school longer, and ultimately end up borrowing more.”

Dr. Canady went on to explain how this knowledge is more critical than ever amid the COVID-19 pandemic which has displaced numerous college students around the country and leaving graduates with little income to pay back their debt. “COVID-19 could really exacerbate the student loan crisis for Black borrowers because we typically borrow more and graduate less,” Dr. Tisa added. “Black students cannot afford to ignore their student loan debt situation during this pandemic.”

 

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I’ve been working on this book since January. It is so rewarding to see a project through from vision to reality! #melaninmoneymatriculation #comingsoon

A post shared by Dr. Tisa Silver Canady (@tisasilver) on Jun 16, 2020 at 7:54am PDT

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Biden Campaign Will Run Commercials During Every NFL Game Until Election Day

As the November election is approaching, Joe Biden and his team have decided to focus some of its advertising toward fans of football. 

NPR is reporting that the Biden campaign is intending to utilize its budget to place commercial spots during every NFL game for the remainder of the election season.

As the 2020 NFL season started this past weekend, the Biden campaign debuted the first ad called “Fresh Start” that was aired nationally. “We need to get control over the virus,” the narrator says midway through the ad. “Donald Trump failed. Joe Biden will get it done.”

The Biden team has purchased at least one advertising slot for every game between now and Election Day, a campaign spokesperson confirmed to NPR. Tracking firm Advertising Analytics says those prebookings add up to $25 million.

“I’ve never seen that before in a presidential race,” said Ad Analytics’ John Link. “That is the first time we’ve seen something of that magnitude.”

Ad Analytics said it found that Biden’s campaign had also aired seven different ads in 18 local media markets during last Thursday’s opening game. This translates to mean that Biden’s team was trying different messages for different markets. Biden’s ads aired in the so-called “blue wall” states of Wisconsin, Minnesota, Michigan, and Pennsylvania, plus Florida, North Carolina, Nevada, and Arizona. Back in the 2016 presidential election, Hillary Clinton won two of those states, Nevada and Minnesota.

“The NFL, even pre-COVID, is the most powerful advertising vehicle,” said Link. “In some markets, you get Super Bowl-like numbers on a Sunday.”

Last Thursday night, the opening game between Super Bowl Champion Kansas City Chiefs and the Houston Texans drew some 20 million people.

Ad Analytics has reported that the Trump campaign spent $1.1 million in 21 local TV ads in swing states during the season opener.

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Black Husband, Wife and Son Launch Online Course on Investing in the Stock Market

Kevon Chisolm, Esq. founder and president of Black Wallstreeter Consultation Services, is teaming up with his wife, Kim, and their 13-year old son, Kamari, to launch a weekend series that teaches African American families financial literacy skills and how to invest in the stock market. The weekend series is geared towards encouraging families and individuals to build generational wealth together while also learning about African American history and culture.

The goal is to continue the success that they had with the Junior Wallstreeters Summer Camps. One parent wrote: “I just wanted to thank you for the educational and impactful experiences you provided through the Jr Wall Street camp. I appreciate the tools used to empower our children through the convergence of African American history while teaching strategies and the importance of building future wealth.”

Kevon comments, “In addition to topics like budgeting, establishing and maintaining good credit, banking, and investing in the stock market, the weekend series teaches generational wealth building through investment clubs.”

Saturday’s series is titled: Empowering Youth & Parents with Financial Wellness. The Sunday’s series is titled: Empowering Youth & Parents with Financial Wellness and African American History and Culture. Both sessions will provide life-long financial education and resources, which can be applied to address the lack of generational wealth in the African American community.

“Our goal is to teach financial knowledge to eliminate the wealth gap by showing young people and their parents how to properly use money as a tool,” he adds. The online series will primarily be taught by Stanley Anderson and Isaiah Cromwell, a high school teacher who helped Kevon develop the curriculum.

The weekend series will be held every other Saturday (11am-1pm EST) and Sunday (1pm-4pm EST), starting on October 3rd and 4th. All ages are encouraged to attend the series, but youth under 12 must be accompanied by an adult. Participants must have a computer with Internet access. The cost of the Saturday series is just $250. While the cost for Sunday’s series is $350 because it is an hour longer and includes additional materials. This fee includes course materials such as an electronic student handbook, Junior Wallstreeters Envelope Budgeting System with tracking sheets, and a Stock Tracker Lite Notebook.

Limited spaces are available.

Register online for the SATURDAY series at:
www.theblackwallstreeter.com/shop/weekend-series-saturday

Register online for the SUNDAY series at:
www.theblackwallstreeter.com/shop/weekend-series-sunday

This article was originally published by BlackNews.com.

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Retired Harvard B-School Professor to Black People: Own Your Anger and Grief To Combat Brutal, Systemic Racism

In his latest podcast, retired Harvard professor Steven Rogers departed from his usual format to focus on “the business” of helping Black people respond to the alarming number of casualties from police shootings.

“I do not believe there is any value at this time to tell Black people to suppress their anger and hurt until the voting booths open in November,” asserts Rogers, discarding recent statements made by numerous Black politicians and entertainers. “My advice is that Black people should be authentic and own these feelings. Continue to march and protest.”

In dealing with the “multi-step grieving process,” the leading Black business authority and BlackEnterprise.com contributor urges African Americans to “not let any one hoodwink you into trying to skip important steps in the process of grief when a Black man has been lynched by a white cop.”

Rogers usually uses his incisive, witty “Lessons on Black Excellence in Business” podcast to offer advice on areas such as startup financing, operational excellence, and strategic management. A recent episode aptly titled, “Say it Loud, I’m Black And I’m Proud…And I’m Angry And Hurting“—merging the lyrics from R&B legend James Brown’s 1968 classic with a statement from his daughter and co-host, Ariel, that echoes the sentiment of Black people nationwide—was designed to help listeners cope with the painful history of brutal and systemic acts of racism.

He shares his own unshakeable anguish over examples of inhumanity: “I still hurt and grieve from hearing as an 11-year-old my mother crying in her bedroom 52 years ago when the news reported that Dr. Martin Luther King Jr. had been murdered. I still hurt and grieve from attending a church service at Mother Emanuel Church in Charleston, South Carolina, 100 days after a white man murdered nine black parishioners during a prayer service meeting in 2015. And I still hurt and grieve from the photo that I saw of a black family—a father, a mother, and two children—lynched, hanging from a tree by their necks when I visited the lynching museum last year in Montgomery, Alabama.”

In the podcast, Rogers suggests listeners engage in four actions to help African Americans find spiritual upliftment, combat racism, and gain economic empowerment. For instance, he encourages them to “love the Black community” by patronizing those firms that develop products and services that benefit Black consumers and donate to Black causes. “Remember the greatest private sector employer of Black people are Black-owned businesses.”

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5 Ways Black Real Estate Investors Can Increase Returns As Business Shows Little Progress in Boosting Diversity

Real estate investing has long been a proven approach to helping individuals become their own bosses, build wealth, and achieve financial independence.

In fact, an immense 90% of millionaires reportedly made their fortunes by investing in that asset class.

But little progress has been achieved in the Black real estate investing community, with investors continuing to experience a lack of diversity and overall opportunities afforded to them, a new study by Millionacres shows. A Motley Fool firm, Millionacres is a real estate investment service.

In August, Millionacres surveyed more than 650 people about diversity in the real estate investing world. Five percent of the respondents identified as Black or African American. The real estate world encompasses  many categories, including rental properties, real estate crowdfunding, commercial real estate, real estate stocks, REITs (real estate investment trusts), flipping houses, and second or vacation homes to name a few.

Among the most startling survey findings is that 7 out of 10 Black investors feel that their race affects their real estate investing opportunities. Here are other top findings of what the Black real estate investing community has to report about diversity:

• Nearly 63% say racial diversity is lacking or severely lacking in the real estate investing community.
• About 56% believe that their race affects their real estate investing returns.
• Around 48% think that early financial education (including information on real estate investing) for under-represented groups would help with lack of diversity.

To reverse matters, Black respondents offered feedback on what should be done about the lack of diversity in the business. Fourteen percent recommend more online content and resources specifically for underrepresented groups. And 11% suggest government intervention on behalf of underrepresented groups.

The findings are also significant from a financial viewpoint. For instance, the combined value of every residential home in the United States alone was $33.6 trillion by late 2019, according to real estate and rental marketplace Zillow.

Real estate investor Lisa Phillips says the 70% of Black investors who feel that their race affects their real estate opportunities is startling to some but very accurate. She says it means that most Black investors are actively navigating the racial burden of trying to invest in addition to the complexities of building a portfolio. “The consequences of that is a much higher burden to obtain just even the same results of bridging the wealth gap,” she says.

Phillips says it is a big deal because it shows that Black investors need to ensure they are deliberately going to sources for funding, education, and opportunities, such as funds and investment groups that understand these nuances. These are generally Black-owned investment platforms that will speak to these issues in a way that mainstream real estate investing platforms cannot articulate. She added this is one way of ensuring the racialized component does not inhibit the accessibility of the Black investor.

So what needs to occur to get more African Americans involved in real estate investing nationwide?

A best-selling author of Investing In Rental Properties For Beginners, Phillips says she personally has found success in training Black investors in a culture of targeting undervalued Black communities, ethically and responsibly (not gentrifying). This way, she added, the cost of entry is a lot lower with homes that run anywhere from $20,000 to $50,000, offering a much lower startup cost.

And if more Blacks were involved in real estate investing, it could potentially help them and their community economically.

Phillips says she has seen investors go from one rental property to 10, and are now major players in the local REIAs (real estate investing associations) and active politically and judicially as homeowners. “We have also seen a pooling of resources, noting which banks are Black investor-friendly (meaning, more likely to give a mortgage loan), as well as which cities and municipalities are investor-friendly,” she says.

“Also, having investors in vulnerable low-income minority neighborhoods who are sensitive and conscious of not escalating rents in order to not displace residents, is having a positive effect individually on streets—this is really grassroots level, which are the best way to get change in my opinion—on our own, not waiting for government or outside validation.”

For Black investors looking to get higher returns from the investing world, Phillips offered some tips:

1. Focus on word of mouth recommendations for banks, lenders, appraisers, real estate agents, educators, investment groups, etc.

2. Focus on portfolios that align with your pocketbook. If you have $10,000 to invest in a property, focus on properties that cost $20,000 to $50,000, generally in minority neighborhoods, and learn how to ethically invest in long-term rentals for relatively low down payment amounts but extremely high cash flow.

3. Ensure you are receiving guidance and education from investors who understand and can speak to navigating the racialized components of getting funding and implementing strategies.

4.  Learn how to find these low-cost markets, be it an hour’s drive away or a plane trip away, and learn how to successfully manage them through long-distance investing so you can easily achieve great deals without having to manage it hands-on.

5. Show up in the energy so you can create the business that you have always wanted, and financial freedom, and give back and stabilize communities at the same time.

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Meet the All-Black Female Fishing Team From North Carolina Who Are Making History

The Ebony Anglers, an all-Black female fishing team from Morehead, North Carolina, have recently made history after winning in the King Mackerel division of the Spanish Mackerel & Dolphin Tournament. This is the first major tournament that they’ve ever competed in.

Gia Peebles, a salon owner and entrepreneur, first thought of the idea of forming the group after she and her husband watched the annual Big Rock Fishing Tournament last June.

“When I saw women of all ages coming from their fishing boats with fish and winning prizes, I noticed that there were no women of color competing,” Peebles told Spectacular Magazine. “I said to myself, ‘We can do this. I already know accomplished women who are leaders and know how to win in other aspects of their lives. We can do this.’”

She then reached out to the women who are also entrepreneurs including festival owner and educator Lesleigh Mausi, nail tech entrepreneur Glenda Turner, digital marketing specialist & editorial model Bobbiette Palmer, and Gourmet Catering Company owner Tiana Davis.

As a competitive women’s fishing team, they reeled in a 48 lb. King Mackerel in their first competition, earning them the coveted citation from the North Carolina Wildlife Resources Commission.

Now, they are preparing to compete in qualifying events until 2021 and hopefully join the Big Rock Blue Marlin Fishing Tournament in June 2021.

This article was originally published by BlackNews.com.

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How This Riding Club Is Preserving The Legacy Of Black Cowboys

When one thinks of a cowboy or a cowgirl, a Black person may not be the first image that comes to mind. Despite being erased from most history books, the legacy of the Black cowboy and cowgirl has a strong culture throughout the country, particularly the South.

One group is continuing its fight to preserve the heritage of these unsung heroes, even through the COVID-19 pandemic.

The Circle L Five Riding Club is the oldest Black riding club in Texas and a staple within the Fort Worth community for over 70 years. Founded in 1951, the founders wanted to create a club where they ccould keep their cowboy traditions alive during Jim Crow.

“They came up with the club name as they were sitting in a circle talking about organizing a riding club. [Ed] “Pop” Landers (one of the founders of the riding club) had a stick in his hand and made a circle in the dirt,” said Marcellous “Mo” Anderson, president of Circle L 5, in an email interview with BLACK ENTERPRISE. 

“They decided on ‘Circle,’ and, as it was Lander’s idea, they used his last name’s initial ‘L.’ Since it was just the five of them, they came up with the name Circle L 5 Riding Club. ‘Pop’ Landers had the vision and desire to create the riding club’s existence because he wanted to be able to ride as a Black cowboy in any parade or rodeo he desired.”

Despite numerous attempts to derail the group, including an incident during the Fort Worth Stock Show during segregation where many of the riders faced discrimination from their White counterparts, the members are committed to preserving their culture while showing others in the Black community that riding horses and being a cowboy or cowgirl isn’t just in White culture.

“Black Cowboys go back to the very beginning of American cowboy history when groups of men on horseback would take months-long trail drives from their hometowns–usually in Texas, Oklahoma, Colorado, California, North Dakota, or South Dakota–to connect with Midwestern railroads, herding their cattle along the way,” Anderson explained.

“The journeys were long and dangerous, and whether you were Black, White, or Mexican, you slept in the same spaces, ate the same food, performed the same tasks, and took the same risks. Those who survived the journeys formed bonds that would last a lifetime.”

Although the spread of COVID-19 has canceled all club events for the rest of the year, Anderson says that still hasn’t deterred riders from spending time with their horses.

“Once we get down here, we wear our masks and social distance while taking care of our horses,” he says.

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Dr. Anthony Harris On How Employers And Managers Can Support Employee’s Mental Health Issues Amid COVID-19

For Mental Health Awareness week, BLACK ENTERPRISE is interviewing numerous individuals within the wellness community to talk about the racial disparities that affect the Black community in the hopes of creating a safe place to talk about mental health. 

According to the World Economic Forum, 1 in 4 Americans has reported issues with depression and anxiety as a result of the COVID-19 pandemic. The rate of cases of adults dealing with mental health-related issues since COVID-19 climbed to 27.8% by mid-April 2020. Finances have been attributed to one of the leading causes of driving their depression as a result of job loss from the viral outbreak.

Dr. Anthony Harris is the chief innovation officer and associate medical director for WorkCare, a physician-directed occupational health company aimed at helping businesses practice healthy procedures and attitudes in the workplace, including mental health. In an interview with BLACK ENTERPRISE, Dr. Harris discusses how businesses and managers have had to learn to work with their employees who may be struggling internally due to the public health crisis.

BE: How can business owners be there for employees who are dealing with mental health issues?

Dr. Harris: I think businesses can be checking in on their employees to see how they are doing. Some people are more affected by what’s going on, some have family members that might be getting sick so just checking in to see if there is anything they can do to help. This even includes giving them access to resources that can help.

At WorkCare, we can do initial assessments for employees and then give them recommendations for what their next step should be based on the assessment— we call it Mental Health Well Checks & Triage. Mental health disorders, such as depression, are being regarded as the next impending pandemic resultant from social disconnectedness during current COVID-19 conditions. Taking a proactive approach to identifying those amongst your employees who may need assistance will be key to maintaining a strong, productive remote workforce.

What initiatives can managers implement to make sure employees are prioritizing their mental health?

Managers should encourage their employees to reach out to people they are comfortable with and talk about whatever they could be struggling with. Maybe even reach out professionally too. Optimal mental health boosts workplace productivity so it’s something that managers should care about and think about with their employees. Initiatives such as Mental Health Well Checks performed by trained clinicians can be an affordable intervention that surveys individuals and triages them appropriately to resources and clinicians that can identify ways to help.

Why is important to have conservation on mental health with your workforce?

Having these conversations creates a better camaraderie between you and your team as well as building up your team so that they can feel better working together and feel better about their work performance. Mental health isn’t something that just turns off when you get to work and we become robots, it very much affects our work and our relationships there so it only seems natural that it should be something we hold each other accountable for.

Moreover, when the situation calls for it, it’s important to recognize as an employer when the conversation with employees should transition from HR to a trained clinician. Solutions are emerging that make such a transition easy and natural for both employers and employees.

Do you think COVID-19 will inspire more businesses to provide more mental health resources?

Absolutely. People are working from home which creates quite a bit of isolation, a factor that typically exacerbates already existing mental health issues. Businesses are learning to reach out in different and more creative ways to check in on their people.

There is no more ‘talking at the water cooler’ so it requires more intentionality to keep up with your co-workers and employees. We have already seen the increased partnerships between businesses and providers to serve workers in the community toward mental health wellness.

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A Judge Asked Harvard To Find Out Why So Many Black Residents Are In Prison, Guess What They Found

When a judge tasked researchers at Harvard University to explain why Massachusetts’ Black and Latinx incarceration was so high, a four-year study came up with one conclusion: systemic racism.

In 2016, Massachusetts Supreme Judicial Court Chief Justice Ralph Gants asked Harvard researchers to “take a hard look at how we can better fulfill our promise to provide equal justice for every litigant.”

Harvard researchers gathered the raw numbers from nearly every government agency in the state’s criminal justice system, examined the data, and researched the disparate outcomes to reach a conclusion Black and Latino men and women in the state already knew.

Harvard Law School’s Criminal Justice Policy Program found that Blacks and Latinos defendants in the state received more severe charges, harsher sentences, and less favorable outcomes than their white counterparts.

Researchers looked at more than one million cases, from the initial charges through conviction and sentencing and discovered disparities that blew their minds.

“White people make up roughly 74% of the Massachusetts population while accounting for 58.7% of cases in our data,” the study explained. “Meanwhile, Black people make up just 6.5% of the Massachusetts population and account for 17.1% of cases.”

Researchers found those numbers are the result of a criminal justice system that treats Black and Latino people unfairly on every level.

Cops in the state are more likely to stop Black and Latino drivers and search or investigate Black and Latino residents. Police charge Black and Latino suspects with infractions that carry harsher penalties and are less likely to offer a plea deal or pre-trial intervention. Judges also sentence Black and Latino defendants to longer prison sentences.

The study also found the average White felon in the state has committed a more severe crime than the average Black inmate.

Researchers also looked at poverty rates, the family structures of convicted felons, and the neighborhoods they lived in. Eventually, they decided systemic racism was the only explanation.

One thing the researchers could not figure out through the data was why Black people are always initially charged with more serious crimes than white people.

Researchers initially thought it was because Black suspects commit worse crimes than white people, but the data disproved that assumption. They also thought prosecutors may be overzealous when it came to convicting violent cases but the data debunked that theory as well.

When they looked at convictions however, they found Black people were surprisingly less likely to be convicted than white people. Basically, a white person has to have done something egregious to be charged while a Black person just has to be in the wrong place at the wrong time.

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Starbucks Has Officially Abandoned Plastic Straws For Iced Beverages

Starbucks is following up on its commitment to get rid of plastic straws and is bringing in its long-awaited “sippy cup” lids for iced beverages.

The coffee giant announced in July 2018 it would begin phasing out plastic straws from all its stores by 2020, the modified plastic lid with a drinking spout is now making its official debut.

However, blended beverages, including frappuccinos, and other drinks with whipped cream will still come with a domed lid. In places where plastic straws are prohibited by local law, straws with alternative materials will be used.

The straw-free lids will be fully adopted in company-operated and licensed Starbucks stores in both the United States and Canada by the end of the month. The new lids contain 9% less plastic than Starbucks previous flat lid and straw combination. The lids are also made of polypropylene, a commonly accepted recyclable plastic.

“Recyclable, strawless lids for customers across the US and Canada is another step in our journey to reduce our environmental footprint,” Michael Kobori, Starbucks’ chief sustainability officer told CNN. “As we move closer toward our 2030 target of a 50 percent reduction in waste sent to landfills, the long-standing history of innovation within Starbucks, partnership across the industry and changing consumer behavior remain fundamental to our purpose and our prosperity as an organization.”

Plastic straws have been known to increase ocean pollution and microplastics can harm marine wildlife. Starbucks say it’s trying to eliminate more than one billion plastic straws per year.

Miami Beach, Florida; Monmouth Beach, New Jersey, Oakland and Berkeley, California, have all banned the use of disposable plastic straws.

A 2020 study by the academic journal Science Advances said that as of 2015, only 9% of plastics are being recycled, 12% is incinerated and the other 79% ends up in the environment.

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Mom and Daughter Make History, Open Black-Owned Shell Gas Station in Florida

Meet 51-year old Lashawn Flowers and her 35-year old daughter, Shanita Vickers, the new owners of the only Black-owned gas station in Hollywood, Florida, and possibly the only Black-owned gas station in all of South Florida. As Shell franchisees, they are making history as women entrepreneurs and causing quite a stir on social media.

Lashawn and her daughter, who both grew up in Deerfield Beach, Florida, began their roots in entrepreneurship as the owners of a local hair and nail salon called Girlz Collectionz and later a local bar and nightclub called Groove City Bar & Lounge, which is currently closed because of the pandemic. Having to pivot sparked the idea of purchasing a gas station.

“We actually purchased two Shell gas stations,” says Lashawn. “We were able to negotiate a two-for-one deal.”

She says the process of purchasing two franchises was not hard, but it was a fairly tedious process. After completing a credit application, she had to prove that financially she really did have the capital to complete the purchase. The whole process, however, took just three weeks.

Keeping it in the family

Lashawn says that she and her daughter are partners in this business, and are partners in their other businesses as well.

“I really value having a family-owned business because family is who you can trust,” she says. “My daughter, Shanita, is a wonderful mom of two beautiful children and also a phenomenal entrepreneur who is awesome to work with. We work well together because we understand each other.”

Hard work pays off

But having her daughter at her side doesn’t mean that she underestimates the value of hard work. “I don’t believe in failing in anything I do,” Lashawn adds. “If you don’t work your business, it won’t be a success. You absolutely must put in the hard work.”

Their work ethic is already paying off because they are already receiving on-air shout outs from the likes of Rickey Smiley, not to mention that their story has already gone viral on social media which has sparked a huge influx of new customers.

Their Shell gas station is located at 2501 North University Drive, Hollywood, FL 33034, and they are already planning to open their second gas station in early 2021 possibly in West Palm Beach.

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This Mother-Daughter Duo Came Together To Start Their Own Cosmetics Brand

For many entrepreneurs, it is important to teach their children important lessons that they will be able to use one day in creating businesses to secure financial independence. For one Black woman entrepreneur, creating a new business was one way to create new opportunities for her daughter through their shared love of cosmetics.

Danielle and Samiah Pasha are the founders of The Beat House Cosmetics company that opened on Juneteenth earlier this year. The beauty brand offers an assorted collection of color eye shadow palettes, lipsticks, false eyelashes, and more. While Danielle serves as the brainchild and founder of the company, she enlisted the help of her 14-year-old daughter, Samiah, to work as the interim CEO while she was deployed in Afghanistan for three years.

“I am so blown away by all of the positive feedback I have received from everyone, it’s so surreal,” says Danielle in an interview with Black News. “I remember Facetiming my daughter, giving her instructions and tasks to help me out with the business in my absence and now we are partners!”

Samiah says while the job was hard, she was happy to have a chance to work with her mother, who also has a love for makeup, on her brand. “Most teenagers are irritated by their parents and wouldn’t dare want to work with them—I’m still irritated at times,” says Samiah in an interview with Black News. “But I remember missing my mom and not knowing when I would see her again, so I enjoy every second we get to spend together. Besides, I absolutely love makeup.”

 

 

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The 2020 Palette is now available www.thebeathousecosmetics.com

A post shared by The Beat House Cosmetics (@the_beat_house_cosmetics) on Aug 10, 2020 at 9:18am PDT

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A Simple Way to Increase Your Income and Build Wealth in the Stock Market

Many high-achieving professionals and entrepreneurs accumulate over $1 million in lifetime  earnings before they reach 40. Unfortunately, those earnings do not automatically translate into a higher net worth within the African American community.

According to “The Road to Zero Wealth“ report published by Prosperity Now and the Institute for Policy Studies, the median wealth of Black Americans will fall to zero by 2053 if current trends continue. One way to reverse that net worth trend is to move from everyday consumer to strategic investing in the stock market. 

There are multiple ways to invest in the stock market, but if you’re looking to earn an extra stream of income, you should harness the power of dividends. In my book, Dividends Are a Queen’s Best Friend, I describe dividends as the “money that a company gives you as a reward for investing in them.” It’s typically much better than the rewards you get for shopping at some of your favorite stores. Not only do you get “rewards points” when you purchase dividend-paying stocks, but you can gain a piece of ownership in the company.

Dividends are a great way to generate passive income in the stock market and start earning an extra stream of income from the world’s top companies. You can reinvest your earnings and gain access to more dividend income in the future due to the power of compounding. If you’re strategic, consistent, and committed to learning as much as you can, you can create a dividend portfolio that allows you to fund your future lifestyle and pay your bills every month! 

Are you ready to get started on your dividend journey? Here are three things you should consider as you seek to build an extra stream of income from your investments.

1.) Stock dividends don’t discriminate 

Many asset-building strategies have come with decades of discrimination that have made it more difficult for African Americans to generate wealth. This isn’t the case with dividends. It doesn’t matter if you are Black or White, you can get access to dividends as long as you invest in dividend-paying assets. No credit check is required and you don’t need thousands of dollars to start your dividend journey. The amount of dividend income you can make is based on your participation in the stock market. If you want to increase your dividend income, all you have to do is buy more shares of a company stock.

2.) You can get an automatic pay raise 

Before investing in any company, it’s important to do your research and due diligence. You want to make sure that the companies you invest in align with the goals you have. If you have a goal of expanding your dividend portfolio every year without being heavily involved in the process, you might want to look into dividend growth companies. These are companies that increase their annual dividend amount frequently. 

Let’s say you have 1,000 shares of a stock and a company pays an annual dividend of $4 per share. You would earn $4,000 in dividend income. Next year, the company increases the annual dividend to $4.25 per share. You would earn $4,250 in dividend income without lifting a finger. That means you just earned an automatic pay raise in your account! If you’re interested in dividend growth companies, you can start by researching companies that have paid dividends for over 10, 25, and even 50 consecutive years. 

3.) Dividends come with special tax benefits 

While many are solely looking at income opportunities to build wealth, you can’t neglect the impact managing your expenses can have on your wealth building goals. Taxes are the single largest expense most people have. If you can allocate your money in a way that allows you to reduce your tax bill, you can achieve your wealth building goals at a faster rate. 

Did you know that you can pay less taxes for dividend income than earned income from salaries and wages? The U.S. tax system rewards investors with special tax incentives that are not available to those who only have one source of income from a job. Depending on the type of dividends you have and how long you’ve had them in your portfolio, you are eligible for reduced tax rates. Speak to your CPA or tax adviser about long-term capital gains rates and how you can structure your dividend portfolio to reduce your tax liability. 

If you want to start your wealth-building journey in a stress-free way, dividend investing is a simple way to get started. Plan your future success right now and prepare to earn an extra stream of income for a lifetime.

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Celebrity Therapist Jeff Rocker On Black Men Dealing With Anxiety And Depression Amid COVID-19

For Mental Health Awareness week, BLACK ENTERPRISE is interviewing numerous individuals within the wellness community to talk about the racial disparities that affect the Black community in the hopes of creating a safe place to talk about mental health. 

According to the U.S. Department Office of Minority Health, suicide became the second-leading cause of death for African Americans between the ages of 15-24 in 2017. In the same year, data showed that the rate for African American men who died by suicide was four times greater than African American women.

Celebrity therapist and licensed mental health counselor Jeff Rocker sees the effects it has on his clients and has created a platform for black men to talk about the mental health issues they may be facing.

In an interview with BLACK ENTERPRISE, Rocker discusses the stigma around discussions about mental health among black men and how the COVID-19 has contributed to increasing the number of people who say they are suffering mental health issues due to the fallout from the health crisis.

What has the COVID-19 pandemic contributed to mental health ailments amongst Black men?

The coronavirus disease has adversely affected the mental health of Black men in a myriad of ways. 2020 has brought a lot of frustration to many Black men that have heightened their anxiety to new levels to the point where they find themselves constantly worrying about the safety of their families, financial stability, and reevaluating their short term and long goals.

Sadly enough, research reveals that 44% of African Americans have experienced pay cuts or job loss. In comparison, 73% lacked emergency financial reserves to cater to their three-month expenses due to the epidemic. As you can see, the significant decrease in household income imposes a substantial financial burden on Black men as they try to provide for their families.

To make matters worse, African Americans have recorded the highest COVID-19 hospitalizations and death rates. This devastating situation attributes to increased chronic health conditions, poverty, and racial discrimination that endanger their well-being. In other words, “It’s tough being a Black man in today’s society, but they don’t have to deal with their issues on their own.”

What are some of the things keeping Black men from seeking out help?

Black men refrain from pursuing professional help due to various reasons such as finding therapists who are knowledgeable about Black culture, false representations, or hostile generalizations of therapy, fear of being judged, and being misdiagnosed.

For example, some mental health professionals have developed biased and negative perceptions, which influence them to misdiagnose Black men with mental illnesses such as schizophrenia, while diagnosing White males with similar symptoms as experiencing mild mood disorders. Culturally unskilled therapists discourage Black men from enrolling in counseling sessions due to fear that clinicians may incorrectly diagnose them with mental illness that they do not have in reality.

Additionally, fear of judgment hampers African American males from finding help. The conventional masculinity beliefs that force men to endure challenges, as well as the fear of their families identifying them as crazy due to their mental health diagnoses, elevates their resistance to psychological assistance. The negative depiction of counseling sessions in movies or television impedes Black men from seeking help because filmmakers portray mental health patients as unpredictably violent while depicting counselors as unethical or unhelpful. Hence, these factors hinder Black men from pursuing professional assistance.

Do you think attitudes toward mental health among Black men are changing? Why or why not?

I believe that Black men’s attitude toward mental health is heading in the right direction. More African American therapists have received commendations from the public for helping their communities through innovative therapeutic approaches.

Since the death of George Floyd, mental health agencies have been forced to hire more Black therapists to deal with the vicarious trauma experienced in the Black community. There has been a huge need for Black mental health professionals for many years, and now it feels like something is being done about it. The confessions of Black celebrities such as Trevor Noah, Taraji P. Henson, and LeBron James ailing from mental disorder has encouraged African American men to change their attitude toward mental health. Unlike in the past, where African Americans viewed dialogues regarding mental health as an embarrassment, Black families have currently started discussing psychological well-being issues.

As a celebrity therapist, this is why I focus the majority of my time discussing mental health issues that are prevalent in the Black community and coping skills to overcome them. We need to continue to have these conversations amongst each other to promote mental health awareness.

It’s National Suicide Prevention Month, and recent studies have shown an increase in the number of young Black boys committing suicide. What are some factors causing these numbers to increase?

Suicide rates among Black youths continue to increase exponentially due to various reasons. First and foremost, traumatic experiences instigated by massive killings of African American men by police officers has impacted the suicide rates in young Black males.

From 1991 to 2017, incidences of suicide among Black adolescents have increased by 73% due to exposure to racial discrimination and violence, which bolsters stress and depression. Besides, the integration of masculinity and racial norms, which mandate Black men to develop emotional resilience, triggers suicidal thoughts, especially when they fail to withhold their feelings.

The lack of social relations or emotional support from peers has impacted suicide rates drastically in young Black teens. At the same time, the lack of health insurance and high treatment expenditures hampers Black families from enrolling their children in counseling sessions. Therefore, there needs to be more resources and programs in place to offset these issues that contribute to the inflating cases of suicide among Black adolescents.

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New Book Shows How Much President Trump Doesn’t Care About Black Pain

A new book written by journalist Bob Woodward details President Donald Trump’s lack of empathy and interest in the livelihood of Black Americans.

For his book, titled Rage, Woodward conducted, and recorded, nearly 20 interviews with Trump over several months detailing the president’s thoughts on George Floyd’s death and resulting protests. In a phone conversation with Trump three weeks after Floyd’s death, Trump downplayed concerns Black people have about racism in America.

During the call,  Woodward told the president they’re both “privileged” older white men and have to be more aware of how Black people feel. In response, Trump mocked him, saying they do not need to understand the “anger and pain” felt by Black communities.

“No…You really drank the Kool-Aid, didn’t you? Just listen to you. Wow. No, I don’t feel that at all,” Trump told Woodward.

Woodward tried to keep the conversation on race but the President began to pivot toward the economy, again claiming he “has done more for the African American community than any other president in history besides Lincoln.”

“I’ve done a tremendous amount for the Black community. And, honestly, I’m not feeling any love,” Trump said during a conversation on July 8.

In a separate conversation days later, Woodward brought up race again, however, this time Trump said systemic racism isn’t limited to just the United States.

“Well, I think there is everywhere. I think probably less here than most places. Or less here than many places,” the president told Woodward.

Trump also expressed issues with several Black leaders including Barack Obama who he referred to as “Barack Hussein.”

“I don’t think Obama’s smart. I think he’s highly overrated. And I don’t think he’s a great speaker,” Trump told Woodward, adding that North Korean leader Kim Jong Un called Obama an “a**hole” when they spoke privately.

The book also had a number of admissions made by the president regarding his response to the coronavirus pandemic.

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Arizona Police Officer Suspended After Holding Black Hotel Employee at Gunpoint While Looking for White Suspect

A police officer in Tempe, Arizona, is under investigation because, while searching for a white suspect, he held a Black hotel employee at gunpoint according to AZFamily.

The police officer, Ronald Kerzaya, has been reassigned due to the incident that took place at a hotel. He stopped and had a gun pointed at the Black hotel worker who was wearing a light gray shirt and black pants, telling him he matched the description of a reported gunman. But, the reported suspect had been described as white, with a black shirt and tan pants.

Based on a news release from the Tempe Police Department, Officer Kerzaya had gone to the Hawthorn Suites hotel near Loop 101 and Southern Avenue last month on Aug. 29 on a call reporting that there was a man there with a gun. The manager of the hotel told Kerzaya the suspect was a white man wearing a black T-shirt and tan pants. The manager stated that the suspect left out of the west side of the building.

As Kerzaya went to the west side of the building, he encountered a Black employee wearing a light gray shirt and black pants as he was exiting the building and the Black man identified himself as an employee. Kerzaya then held the man at gunpoint “until he could confirm that he was an employee of the hotel.”

The body camera footage released by the Tempe Police Department shows Kerzaya holding the man at gunpoint for three minutes while confirming with dispatch that the man was an employee at the hotel. Kerzaya is heard telling the Black employee, “I am responding to somebody with a firearm who matches your description,” although Kerzaya had just confirmed with the hotel manager two minutes before encountering the Black employee that the suspect with the gun was a white man.

Mayor Corey D. Woods released a statement regarding the Hawthorn Suites incident.

“While the matter is under investigation and we will await the outcome of that examination, from our early review of the body camera footage, the Officer’s actions were not a demonstration of the quality of service or treatment of people that Tempe seeks to, can and must provide. The fact that no one was injured is a great relief, but that does little to reduce the dissatisfaction with this incident.

“City Manager, Andrew Ching, and I have been reviewing this and other recent incidents closely as we continue to formulate the City’s plans to address these challenges. In this instance, I have spoken several times to the hotel manager and the employee who was wrongly identified as the suspect who prompted the original call for service. We all can imagine the horrible feelings—the humiliation and fear—that the employee felt during the incident and since.”

Kerzaya is currently under investigation by the Tempe Police Department and has been placed in an administrative role.

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Dr. Shaun Fletcher On the Rising Rates Of Depression And Anxiety Among Young Black Americans

For Mental Health Awareness week, BLACK ENTERPRISE is interviewing numerous individuals within the wellness community to talk about the racial disparities that affect the Black community in the hopes of creating a safe place to talk about mental health. 

According to a new study by the Commonwealth Fund, Latinx and Black people are among the groups with the highest risk for mental health concerns due to the impact of the COVID-19: roughly 40% of Latino and Black people reporting mental health issues to the pandemic as oppose to 29% of white people.

For Dr. Shaun Fletcher, the findings aren’t surprising. The professor and mental health advocate spoke about the mental health discourse within the Black community for his 2018 TEDx Talk, highlighting how depression and anxiety specifically affect young Black Americans.

BE: How has the COVID-19 pandemic and protests negatively impacted young Black Americans in terms of mental health? 

Dr. Fletcher: The confluence of COVID and social unrest sparked by police shootings of young Black people can have significant negative consequences. African Americans are already 20% more likely to experience serious mental health problems than the general population (Health and Human Services Office of Minority Health), and our children are more likely to be exposed to violence and violent crimes, which are risk factors of mental health anxiety. It stands to reason that seeing more violence and social unrest in our communities only exacerbates those contributing risk factors.

Access to–and trust in–the health care system has been a historical barrier for the Black community, and now with COVID restrictions, many aren’t able to have regular access to culturally familiar mental health coping mechanisms, like family, community, and faith-based gatherings. On top of that, many young Black Americans are trying to reconcile their place in the fight for social justice, which can bring about undue emotional labor, cultural taxation, and even imposter syndrome. All of which are associated with significant mental health anxiety.

With more public figures talking openly about their mental health struggles, do you think more young Black Americans are changing their opinions of mental health? Why or why not? 

Yes, I do. We’ve long-realized the power of the media and cultural representation in shaping and shifting opinions on critical subjects. Mental health is no different. While we still have more work to do in terms of surmounting historical barriers to mental health access and utilization, I believe we are certainly moving in the right direction. Celebrities and influencers often serve as cultural gatekeepers in “normalizing” what may have been culturally taboo topics like mental health and suicide prevention.

We’ve seen public figures across sport and entertainment begin to do that, along with including mental health care as an option in their advocacy for quality health care for the Black community, in general. Through generational knowledge-gaining and actively confronting barriers to self-care, younger generations are far less saddled with the obstacles that their parents and grandparents faced. Feelings of embarrassment, isolation, and weakness stigmas can be challenged when credible public figures speak up about their own personal issues with mental health. I hope to see more public figures have the courage to speak out and empower those who may feel they’re alone.

How can schools be of better service when their students express they are dealing with mental health issues? 

Schools can provide more mental health practitioners as well as more mental health advocacy resources to continue the normalization of self-care as a standard in our society. Preventative care should be as important as responsive care. I also feel it’s extremely important that we provide our students and communities with culturally representative and competent mental health practitioners. Lack of culturally competent health care practitioners has been shown to have negative impacts on health outcomes in communities of color, including misdiagnosis. I’ve spoken with students who met with a mental health specialist and left feeling unheard and unseen due to cultural incompetence and sensitivity. Representation also matters in mental health care as much as any other field.

It is National Suicide Prevention Month. Recent studies have shown that more and more younger Black adults have experience dealing with thoughts of suicide. How can we be more supportive toward those in our circle who may be struggling?

I believe supporting others begins with taking inventory of our mental health status and feelings regarding mental health care. It’s incumbent upon any support system to not only be aware and sensitive to the needs of someone struggling but also to know the levels of support needed. We must educate ourselves on the resources available and when to access them. Many of the needs of someone struggling with mental health can be addressed within the confines of their inner circle, while others require the support of licensed professionals.

Understanding the risk factors and warning signs in behavior, mood, and conversation can help us all be equipped to support a loved one in need. While educating oneself is extremely important, having the courage to act once the warning signs begin to show is equally, if not more critical. I can speak from personal experience that seeking professional help or calling the national suicide prevention hotline on behalf of a loved one can be scary, but it can also save their life. In my opinion, the responsibility to support the mental health of a loved one comes along with the social contract of love and friendship.

What are some challenges you see when dealing with students who are hesitant to reach out for help? 

Many students are struggling to find balance during these unusual times. For many, it has only complicated the underlying challenges they already faced. Balancing personal obligations with their jobs and schoolwork has reached a dangerous peak. Students are facing financial difficulties and lost jobs, which won’t allow some to register on-time or adequately prepare for school or even meet their living standards. Finding the strength and words to articulate those very personal challenges can create even more mental anxiety than the actual challenges themselves.

For others they are very concerned about their futures, with a lack of internships and entry-level jobs available. Not only has it altered their career and personal goal trajectory, for some, it has impacted their ability to earn a living to support themselves and their families. I’ve seen this manifest in poor attendance, lack of engagement and withdrawal, and even potentially over-disclosing of very personal information. Even when students can’t articulate the need for help, the signs are usually there–we simply need to remain sensitive and open to support.

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