Business - Page 16

Jobs in these industries are already back to pre-pandemic levels

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By Chris Isidore As the pandemic took hold in America last March, personal trainer Ross Pennise shut down the studio he had run for 20 years. He figured it would be for a relatively short period of time. “I never thought it would last,” said the 52-year old Bloomfield, NJ, resident. “I figured I’d weather it. But my clientele was an older clientele, and there were safety concerns. I couldn’t even meet with them away from the studio.” By June he was shutting down the business for good and looking for a new job. He found one loading hundreds of

Hennessy, Nas, Marcus Graham Project uplift Black entrepreneurs

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International leader of cognac sales, Hennessy, is furthering its historical commitment to Black communities with the Never Stop Never Settle Society, which launched March 29. In collaboration with the Marcus Graham Project (MGP) Hennessy will offer qualified Black entrepreneurs funding, NYC office space and mentorships. “The Never Stop Never Settle Society builds on Hennessy’s ongoing mission to champion cultural diversity by pushing the limits of potential for Black entrepreneurs,” said Jasmin Allen, Hennessy US Senior Vice President. “We aim to expand on that legacy by providing access to capital and resources to those demonstrating the ability to reshape Black communities.”

Swizz Beatz and Timbaland bring Verzuz to Peloton

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By Chauncey Alcorn Peloton and Verzuz, two success stories of the pandemic economy, are joining forces in a deal they hope will add to their growing fortunes. The home fitness company unveiled its new “Peloton Verzuz” music collaboration series on Monday. Verzuz (pronounced “versus”) is the immensely popular webcast series that pits hip-hop and R&B legends like Kenneth “Babyface” Edmonds and Teddy Rileyagainst one another in friendly competitions to determine whose music catalog is superior. Producers Kasseem “Swizz Beatz” Dean and Timothy “Timbaland” Mosley launched Verzuz on Instagram last April to lift the spiritsof Americans stuck at home because of

Nike sues the maker of Lil Nas X ‘Satan Shoes’ for trademark infringement

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By Chauncey Alcorn Nike is suing the art collective behind the Lil Nas X “Satan Shoes” that have sparked a social media backlash. In a lawsuit filed Monday, Nike accuses MSCHF Product Studio, Inc. of trademark infringement over the designer’s 666 pairs of modified Nike sneakers made in collaboration with the “Old Town Road” singer. All 666 pairs sold out Monday. MSCHF has not responded to repeated requests for comment about the lawsuit. In its complaint, Nike asked the court to order MSCHF to “permanently stop” fulfilling orders for the “unauthorized” Lil Nas X Satan Shoes. The lawsuit notes that

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,

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