Business - Page 15

There are ‘definitely merits’ to reparations, says the first Black Fed president

By Matt Egan Raphael Bostic, president of the Federal Reserve Bank of Atlanta, is one of the most prominent government officials yet to publicly express support for reparations as a way to address the consequences of racism and inequality in America. “There are definitely merits to it in the sense that, if people have been harmed by laws, then there should be a discussion about redress,” Bostic told CNN Business in an exclusive interview. “The legacies of past racism are still present in our society,” said Bostic, who in 2017 became the first Black president of a regional Fed bank.

First Boulevard partners with Terrence J to launch Project Tassels

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First Boulevard announced that Academy Award-nominated executive producer, actor, author and entertainment reporter, Terrence J, will be its new Strategic Advisor of the digital neobank. Together they have launched Project Tassels: 1,000 students, 1,000 degrees, 1,000 new outlooks on life. Terrence J will also spearhead the Financial Education initiative to promote financial literacy among HBCU students through a video series created by First Boulevard in which Terrence J will educate HBCU students about credit scores, student loans, credit cards, life off-campus and the importance of budgeting and savings. The goal of Project Tassels is to help 1,000 Black students reclaim

American Airlines clearing the skies for HBCU women in STEM

While STEM fields have been largely white, male domains, American Airlines is changing that. Four HBCU alumni are at this push’s center, doing everything from coding to ensuring safety. With an engineering degree from Southern University and A&M College, Candace Johnson works with the Federal Aviation Administration to keep American’s fleet safe. Proving herself at first was challenging, and she stresses mentorship, including support in childhood. “Engineering is great for people who like to solve problems,” Johnson said. “The support I received growing up made me feel comfortable choosing a path that was not female-oriented.” Prairie View A&M University grad

Patrick Mahomes partners with NFL and others to support HBCU Legacy Bowl

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Kansas City Chiefs’ phenom Patrick Mahomes’ 15 and the Mahomies Foundation announced a long-term partnership with the HBCU Legacy Bowl. The first game will be at Tulane University the Saturday after 2022’s Super Bowl LVI. At 25, quarterback Mahomes’ has won a Super Bowl, led the Chiefs to another, and he’s been league MVP. Still, he’s restless. In 2019 he established the 15 and the Mahomies Foundation, dedicated to improving the health and well-being of children. That mission will now extend to young adults through the HBCU Legacy Bowl. Appearing on the NFL network, the bowl will be an all-star

Fashion brands support and celebrate HBCUs

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Spike Lee’s 2000 movie “Bamboozled” scorched white-owned fashion mogul Tommy Hilfiger for targeting Black markets. Black fashion responded. Led by HBCU alumni, that response is now flourishing. Black designers have dovetailed a sense for flair with an urge to promote HBCUs. Support Black Colleges puts that right in its name. “A lot of people don’t talk about HBCUs, especially big businesses,” said Corey Arvinger, co-founder of Support Black Colleges, to CBS News. “They don’t want to highlight something they don’t know about. That’s where we come in.” HBCU apparel was featured in 90’s sitcoms like The Fresh Prince of Bel-Air

Milton Jones Jr. named first Black chairman of UNCF board of directors

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Milton H. Jones Jr. is making history as the first Black man to be elected as chair of the United Negro College Fund (UNCF) Board of Directors. Jones succeeds William F. Stasior Sr., retired Chairman and CEO of Booz Allen Hamilton, who served as UNCF’s Chair for 11 years. A business and civic leader, Jones held several senior executive positions throughout his 32-year career at Bank of America. He is also a founding member of Peachtree Providence Partners Holding Company LLC, an Atlanta-based private investment and consulting firm specializing in providing income for small and mid-level businesses. As a founding member,

Organic & Natural Health Association partners with Williams-Franklin Foundation to increase diversity in natural products industry

The Organic & Natural Health Association has teamed up with Williams-Franklin Foundation to raise at least $50,000 over the next five years. Their goal is to assist HBCU students financially and create meaningful connections between the HBCU community and professionals within the health and natural products industry. Karen Howard, executive director of Organic & Natural Health, which unites consumers and corporations to support the health of people and the planet, hopes the initiative will help establish diversity and inclusion in the natural products industry. “We want to make this an industry-wide initiative for diversity and inclusion, and we want it

Google faces scrutiny for recruiting algorithm, claims of discrimination

A college ranking system has driven Google’s recruiting strategy for onboarding engineers. According to several former Google employees, Historically Black Colleges and Universities (HBCUs) are missing from the hiring algorithm, despite the company’s promise of racial diversity and inclusion.  Although there was an alleged push for diversity in recent years, since 2014 the number of Black technical workers at Facebook, Google and Microsoft hasn’t even increased by a single percentage point, and still sits below 4% for all three companies. Google’s University Program’s recruiting division called HBCUs “long tail” schools, meaning that it could take a substantial amount of time

Nation’s largest Black mortgage lender, Legacy Home Loans, partners with HBCU Career Marketplace

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As the first Black realtor with 55 years of experience, LEGACY Home Loans’ Founder & CEO Ben Slayton is all too familiar with the challenges African Americans face while working in mortgage and real estate.  Slayton and other leaders at LEGACY are determined to open the door for future generations by equipping them with the tools needed to succeed. LEGACY Home Loans is the nation’s largest Black mortgage lender, and it has partnered with the HBCU Career Development Marketplace to increase the representation of African Americans in the mortgage industry. Currently, only 3% of the mortgage industry’s loan originators are

Killer Mike’s Greenwood banking platform raises nearly $40 million in Series A funding

By Chauncey Alcorn Some of the biggest names in finance are betting big on the success of Greenwood, the digital banking platform introduced last year by co-founders Ryan Glover and rapper/activist Michael “Killer Mike” Render. The burgeoning fintech startup — named for the early 20th century African-American business district in Tulsa, Oklahoma, that earned the nickname “Black Wall Street” — has raised more than $40 million in Series A funding since its website launched in October, according to a joint announcement unveiled Thursday. “The challenge of the racial wealth gap can only be effectively addressed by a coalition focused on

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