Business - Page 38

Black CEOs Lead Fight Against Voter Suppression in Georgia

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Opinion by Peniel E. Joseph Black business leaders’ efforts to stop voter suppression in the wake of Georgia’s recently enacted voting bill illustrate the vanishing separation between protest and politics in America today. They also embody the work of Georgia’s most famous civil rights activist, Dr. Martin Luther King Jr. Over 70 Black executives, led by former American Express CEO Ken Chenault, signed a letter released at the end of March that pressed corporate America to take a stand on voting rights, one of the central moral and political issues in the United States today. “The new law and those

Ex-Time Warner CEO Dick Parsons Slams Georgia Voting Law

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By Matt Egan Dick Parsons had to make countless difficult decisions during his storied corporate career. The decision to speak out on Georgia’s voting law was not one of them. “This was an easy one. There is simply no excuse for what the Georgia legislature has done,” Parsons told CNN Business in his first public comments on the controversial law. Parsons, who in the early 2000s became one of the first Black CEOs of a Fortune 500 company, is among the 72 Black corporate leaders who signed a letter calling on companies to fight Republican voting restrictions. In the interview,

How to Find a Career Sponsor and Accelerate Your Growth

By Jazmin Goodwin Moving up the career ladder takes more than just hard work. Gaining the support of someone with more experience than you helps, too. One way to do this is to find a sponsor. Although much has been said about mentorship, sponsors can advance your career in a way that mentors can’t. And while the two are often confused, there are distinct differences. In a mentorship, a more experienced person gives guidance to a more junior person. In a sponsorship, a more senior person proactively invests social capital and clout in a more junior person, according to Sylvia

IMF: Biden’s $1.9T Stimulus to Boost US and Global Growth

By Charles Riley President Joe Biden’s $1.9 trillion stimulus package will boost the US economy and drive faster global growth this year, the International Monetary Fund said Tuesday, though it warned that many countries continue to suffer from the pandemic and are at risk of being left behind. The US economy will surpass its pre-pandemic size as growth reaches 6.4% this year, the IMF said, up 1.3 percentage points from the group’s forecast in January. The rebound will help the global economy expand 6% in 2021, an upgrade of 0.5 percentage points from the IMF’s previous outlook. The estimates are

Sheila Johnson Champions Black Arts and Hospitality Diversity

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by Chauncey Alcorn Promoting diversity in the arts has become a mainstream mantra in the entertainment industry since the first #OscarsSoWhite controversy in 2015, but it’s something Sheila Johnson has been doing her entire adult life. It’s been 41 years since the Salamander Hotels & Resorts owner and CEO co-founded the BET network with then-husband Robert Johnson, creating a national platform for African-American music videos, television shows and movies at a time when they were often excluded from the airwaves. Now the 72-year-old hotel industry mogul and part-owner of three professional sports franchises in Washington — the Wizards, the Mystics

WW, TFQ & Tai Life Support HBCU Student Mental Wellness

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Weight Watchers International, Inc. (WW) has joined The Female Quotient (TFQ) and Tai Life Media Agency for a free wellness and self-love masterclass series for HBCU students. Premised on the well-being of students of color, the series started on Feb. 25 in conjunction with the WW Wellness Club’s launch. A second event, Thriving Like Me, was held on March 31. Hosted by Howard University student Taylor Crawford, the event stressed the importance of mental health care for Black college students. The keynote was given by Spelman alumna Tai Beauchamp, Co-Founder of Brown Girl Jane. Other participating HBCU alumna included Dr.

Detroit’s Neighborhood Grocery Revives Black-Owned Food Access

By Carly Ryan When Raphael Wright thought about what he could do to build back his community in Detroit, he realized that food sovereignty, or the ability for a community to control the food it consumes, is often the bedrock of a healthy neighborhood and economy. But in Detroit, where 78 percent of the population is Black, there hasn’t been a Black-owned grocery store since 2014. What’s more, 39 percent of Detroit households face food insecurity, a number only exacerbated by the pandemic. “In the 1960s we had up to 20 Black-owned grocery stores,” said Wright. “By 2010 there were

Southern University Launches Black Business Growth Initiative

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In an effort to invigorate the Black business community, Southern University will launch the Deep South Economic Mobility Collaborative (DSMEC). Partnered with the Hope Enterprise Corporation with up to $130 million from Goldman Sachs’ 10,000 Small Businesses, DSEMC will support Black entrepreneurs in the Deep South. Seven cities and eight additional HBCUs will join. “Southern University is excited to partner with national leaders to advance small business opportunities for Black entrepreneurs in our community,” said Ray Belton, Southern University president-chancellor. “As an anchor institution, and with the support of Hope and Goldman Sachs, we are poised to assist thousands of Black

Pandemic Job Market Shifts: Industries Thriving in Recovery

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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 Launches Program Supporting 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.”

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