Business - Page 23

College Cost Reduction Act Threatens HBCU Funding

First introduced in January 2024 by Congresswoman Virginia Foxx, the College Cost Reduction Act (CCRA) would represent a significant shift in higher education finance and the student loan repayment system for millions of students and the institutions they attend. From replacing affordable student loan repayment programs to fully repealing regulations meant to protect students from for-profit and predatory colleges, the CCRA would leave many students without protections that ensure they have access to an affordable and accessible college education. Additionally, many of CCRA’s proposals would significantly impact historically underinvested institutions or institutions that serve low-income or minority students, such as Historically Black

Google Scales Back DEI Goals Amid Legal and Policy Shifts

By Alex Heath Google is joining Meta, Amazon, and other big tech companies in winding down its diversity, equity, and inclusion (DEI) programs. In a Wednesday memo to employees that I obtained (and you can read below), Google’s head of HR, Fiona Cicconi, said there will no longer be DEI hiring targets due to the company’s status as a federal contractor and recent “court decisions and US Executive Orders on this topic.” As The Wall Street Journal notes, Google also removed a line included in previous annual SEC reports saying that it’s “committed to making diversity, equity, and inclusion part of everything we do.”

Saint Augustine’s Saved by $70M Deal With 50 Plus 1 Sports

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Courtesy of Saint Augustine’s University It’s been a challenging few years for one of North Carolina’s oldest HBCUs. In December 2022, Saint Augustine’s University was placed on probation after failing to meet accreditation standards. The Southern Association of Colleges and Schools Commission on Colleges (SACSCOC) removed the HBCU’s membership following significant financial issues, including a $32 million debt and an IRS battle. But the HBCU is inching one step closer to the light at the end of the tunnel after the Black-owned development company 50 Plus 1 Sports invested $70 million to save the university. “We were introduced to the University back in October,

Google Donates $1M to Trump’s 2025 Inauguration Fund

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By Steve Overly Google has donated $1 million to President-elect Donald Trump’s inauguration fund, the company confirmed to POLITICO Thursday, matching contributions from Meta, Amazon, OpenAI CEO Sam Altman and Apple CEO Tim Cook. Tech companies have clamored to win Trump over in the months since his election, with Google’s CEO Sundar Pichai among a line of executives who have flocked to Mar-a-Lago for meetings with the incoming president. “Google is pleased to support the 2025 inauguration, with a livestream on YouTube and a direct link on our homepage. We’re also donating to the inaugural committee,” Karan Bhatia, Google’s global head of

Black Women-Owned Businesses Launch at JFK Terminal 8

By Samantha Dorisca Several Black women-owned businesses are making their way to JFK airport. According to TRBusiness, six small, women-owned businesses based in New York will now have a new home at Terminal 8 (T8) due to a $125 million redevelopment program. They were selected through an accelerator program launched by Unibail-Rodamco-Westfield (URW) Airports. The chosen entrepreneurs were also offered adaptable deal structures and smaller storefront spaces to minimize entry hurdles and lower design expenses. “Helping local businesses access concessions opportunities at Terminal 8 is an asset for our passengers, who will enjoy products unique to New York that are made and sold by local artisans and vendors,” said

Morehouse MIEC Unveils Report on Black Business Growth

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By Ashley Brown The Morehouse Innovation & Entrepreneurship Center celebrated its 20th anniversary on Dec. 11, 2024, with a special awards ceremony at Morehouse College, unveiling the significant “Building Black Business 2024” report. This comprehensive document examines the systemic barriers that Black businesses face while offering strategic solutions to enhance access to capital, technical assistance, and ecosystem support. Over the past two decades, the MIEC has established itself as a leader in fostering Black entrepreneurship and as a model for collaboration between higher education and industry. The center’s recent report highlights the challenges and pathways to success for over 3.5 million Black-owned businesses in

Walmart Sued for Secretly Creating Driver Pay Accounts

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By Alina Selyukh A federal lawsuit alleges that Walmart deceived more than a million delivery drivers by creating deposit accounts without their knowledge or consent, using their Social Security numbers and other personal information. The Consumer Financial Protection Bureau on Monday accused Walmart and payments platform Branch Messenger of costing delivery drivers over $10 million in fees through these accounts since 2021. Walmart, in turn, accused the agency of filing a rushed lawsuit full of errors. The government’s lawsuit says Walmart told drivers, who deliver its shipments to customers’ homes, that they would lose their jobs if they didn’t use Branch accounts

Reebok Partners with WNBA in Major Comeback to Basketball

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Reebok is making a comeback in the world of basketball. On Thursday, Dec. 19, 2024, Reebok and the WNBA announced a multi-year agreement designating the global sports culture brand as an authorized footwear supplier for the league. “The WNBA continues to grow with iconic brands, and we look forward to Reebok joining us in driving women’s basketball to new heights and inspiring the next generation,” WNBA Chief Growth Officer Colie Edison said in a statement. “As we continue to capitalize on increased brand awareness, our work with Reebok is another step in bringing more fans to the game.” Reebok has been

Teamsters Lead Historic Strike Against Amazon Nationwide

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By Alina Selyukh Amazon faced a coordinated picket effort as drivers and warehouse workers at multiple locations around the U.S. on Thursday pressed the retail giant to recognize their unions. The campaign launched by the Teamsters union comes during the holiday-shopping rush, though Amazon says it has not affected operations. The union had said workers would strike at seven locations in major delivery hubs: around the cities of New York, Atlanta, Chicago, Los Angeles and San Francisco and that it had organized the “largest strike against Amazon in U.S. history.” By the afternoon, according to NPR’s reporters and media photos, picketers

Howard’s LaNiece Tyree Elected First Black NACAS President

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Courtesy of Howard University Assistant Vice President for Auxiliary Enterprises LaNiece Tyree, MPA, CASP, was recently elected president of the National Association of College Auxiliary Services (NACAS), making her the first woman of color, as well as the first from an HBCU, to hold the title.  Elected on October 29 during the C3X Annual Conference and Expo in Kissimmee, Florida, Tyree now leads the association’s 12-member board, providing strategic oversight and direction for key initiatives and shaping the future of auxiliary services in higher education. Taking on the highest NACAS leadership role, she will guide the organization in its mission

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