Business - Page 31

Historic Shift: Women and POC Lead Major US Newsrooms

By Kerry Flynn A new class of media executives who have taken top jobs at major publications in the US in the last year is much different than any that came before it. Notably, the class is not made up of predominantly White men. In fact, the cohort includes many firsts. For the first time, there is a Black executive running a major American broadcast news network. The new leaders of ABC News and MSNBC are not only the first Black people in the top roles, but also the first women. The new CEO of The Associated Press is the

Turning Corporate Pledges into Real Racial Equity Impact

Opinion by Dan Schulman, Robert F. Smith and Rich Lesser Amid the national reckoning over racial inequality, corporations and foundations across the country have pledged roughly $11 billion to support causes that promote racial equity. Yet to date, only about half of that promised amount — roughly $5.8 billion — appears to have translated into real investments in the many organizations that are working day in and day out to create lasting change in communities of color. This slow pace of investment must be addressed if we are to successfully tackle the urgent and pervasive challenges before us. The reasons

Infrastructure Bill Boosts Support for Minority Businesses

By Chauncey Alcorn The heads of some of the largest minority business advocacy groups on Capitol Hill are praising key elements of the latest infrastructure bill, which is currently being debated in the House after passing with bipartisan support in the Senate on Tuesday. “This was a win for us in a big way that may not necessarily be known by most people,” US Black Chambers of Commerce president and CEO Ron Busby Sr. told CNN Business. Busby’s organization advocates on behalf of 143 Black chambers of commerce in the United States and a total of 380,000 Black business owners

HBCUs See Record Corporate Recruitment After George Floyd

By Chauncey Alcorn Administrators and career service leaders at some of the nation’s top historically Black colleges and universities, also known as HBCUs, say recruitment of their students and graduates by major corporations has dramatically increased since the police murder of George Floyd more than a year ago. Public outrage spread globally after the widely viewed video of Floyd’s death at the hands of former officers in Minneapolis circulated in May 2020. That motivated many Fortune 500 companies to do more to improve racial equity in the United States, including bolstering the ranks of Black Americans working in Corporate America.

SEC Approves Nasdaq Rule Requiring Board Diversity

By Jazmin Goodwin The Securities and Exchange Commission approved Nasdaq’s proposal to increase diversity on the boards of companies listed on its exchange. The rule requires all Nasdaq-listed companies to have at least two diverse directors, including one woman and one member of an “underrepresented” minority group, including Black people, Latinos or members of the LGBTQ+ community. Companies that don’t have at least two diverse directors, will be required to provide in writing a reason for why they do not. Smaller companies and foreign companies on the exchange could comply with two female directors. Companies will also be required to publicly disclose

Target to Cover College Tuition for All US Employees

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By Alaa Elassar Target has announced that it will begin paying the college tuition and textbook expenses for its US-based part-time and full-time employees who attend select schools. The retail giant is following the lead of other large US companies offering more benefits to attract and retain talent in a tight job market. Starting as early as their first day on the job, more than 340,000 employees at Target stores and distribution centers will now be able to choose from 250 programs at over 40 schools and universities across the country, and they won’t have to pay a dollar, Target said in

NYC to Require Proof of Vaccination for Indoor Venues

By Alexis Benveniste New York City will require proof of vaccination to enter all restaurants, fitness centers and indoor entertainment venues, Mayor Bill de Blasio announced Tuesday. “If you’re unvaccinated, unfortunately, you will not be able to participate in many things,” de Blasio said. “If you want to participate in our society fully, you’ve got to get vaccinated.” The policy will take effect over the next few weeks. The city’s move comes as businesses across Corporate America begin rolling out vaccine requirements for employees, and in some cases for customers and clients to show their proof of vaccination as well. Broadway theaters have already

Empowering Women: Smart Career Moves Seminar on Pay Gap

By Vanessa Roberson    The gender pay gap between men and women is astounding and more companies and organizations are taking a stand to call attention to it. In the United States, on average, women make $0.82 to every $1 earned by men, annually. For black women, the disparities are even worse. The inequities of the gap have long standing impacts, resulting in issues such as misappropriated generational wealth and disproportionate numbers of leadership positions for women, when compared to men. The Female Quotient is actively working to combat the gap and has built an entire platform empowering women with

Business Leaders Must Protect Voting Rights Now

Opinion by Craig Robinson and Eddie Fishman Earlier this month, the Supreme Court ruled that two restrictive provisions in an Arizona voting law could remain in place. It’s a disheartening development in the ongoing voting rights battle waging across the country. Not only does the decision weaken the Voting Rights Act by making it harder to challenge racially discriminatory voting policies, but it also undermines the health of our democratic institutions at a time when voting rights reform is needed most. This disappointing decision arrives as we’re seeing a litany of partisan election law bills being proposed in states like Texas and

Black Women’s Group Sues J&J Over Talc Powder Cancer Risk

By Chauncey Alcorn A Black women’s advocacy group filed a lawsuit Tuesday accusing Johnson & Johnson of selectively marketing the company’s talcum-based products, including Johnson’s Baby Powder, to African-American women despite knowing for years that the items had been linked to ovarian cancer, an allegation J&J denies. The pharma giant sold talc-based powder for more than a century, according to its website, before issuing a recall of 33,000 bottles in 2019 and discontinuing its sale in the United States and Canada in May 2020. But even then J&J said it would allow existing inventory to be sold until it runs out. Attorneys for the National Council of

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