Black Asset Managers and the Fight for Investment Capital
Whether working in academia, a municipal, state or federal department or within Corporate America, Black employees contributing to their retirement plans have one thing in common: their retirement assets are managed almost entirely by people who look nothing like them. And this longstanding dynamic is draining wealth from Black communities. The asset management industry, one of the remaining bastions of the old boy network, is not only frighteningly non-diverse at the upper levels, but those professionals of color within the industry find themselves struggling to raise capital from
Study Shows Black Farmers Lost $326 Billion Worth Of Land Over Decades
Zuri Anderson, Black Information Network A new study is highlighting how state-sanctioned discrimination has financially disenfranchised Black farmers for generations. Black farmers lost over $326 billion worth of land during the 20th century, according to research published Sunday (May 1) in the American Economic Association’s Papers and Proceedings journal, per Reuters. Researchers found that racial discrimination and violence permitted by state laws ultimately led to a steep decline in Black-owned acreage between 1922 and 1977. They reportedly analyzed U.S. Department of Agriculture census data to determine their findings. Land ownership can provide
Report Confirms the U.S. Tech Ecosystem Is Still Failing Black Communities
The 2022 State of Tech Diversity report by the Kapor Center and the NAACP breaks down disparities across the tech industry, from K-12 and post-secondary academic institutions, to recruiting, hiring, retention, and VC funding. Today, the Kapor Center, a nonprofit addressing racial inequities in STEM education and the tech industry, in partnership with the NAACP, released their 2022 report titled State of Tech Diversity: The Black Tech Ecosystem. The report analyzes and synthesizes the latest data, demonstrating the continual exclusion of Black talent across the tech ecosystem, which represents a
CROWN Act Passes In The House, Banning Race-Based Hair Discrimination
By Cherranda Smith, Black Information Network In a landmark vote Friday (March 18), lawmakers in the House passed the CROWN Act, which prohibits race-based hair discrimination in the workplace, school, and more. The Creating a Respectful and Open World for Natural Hair Act passed in a 235-189 vote, with only 14 Republicans supporting the legislation. The bill failed last month after Democrats put the legislation on a fast-track vote typically used for pieces of legislation not considered controversial. Supporters of the bill have tirelessly argued that banning hair discrimination is necessary for Black people who are far too often
First-of-its-kind Partnership Aims to Increase Number of School Principals of Color
In an effort to dramatically boost the number of principals of color leading K-12 schools across the country, national nonprofit New Leaders is forming a first-of-its-kind partnership with distinguished historically Black institutions Morehouse College and Clark Atlanta University to launch the Aspiring Principals Fellowship. The Fellowship is an online principal certification and master’s degree program designed to train the next generation of equity-focused school leaders who better reflect the students they serve. Half of all students in K-12 public schools identify as people of color, while only 1
Digital Privacy: Is data ownership the next frontier?
As internet usage has become a routine activity, so has the mining, analyzing and monetizing of personal information – much of it done without the individuals’ knowledge. According to a Gallup poll, two-thirds of employees in white-collar jobs work from home at least part of the time, meaning there is more activity and personal data in cyberspace than at any other time in history. Unsurprisingly, the cybersecurity industry has exploded. ResearchAndMarkets.com valued the global cybersecurity market at $183.34 billion in 2020 and predicts it will reach $539.78 billion
Black Female WWII Military Unit Honored By Congress
Here's yet another history lesson they didn't teach in school, and it's right in time for the end of Black History Month and the start of Women's Month. On Monday (February 28) the US House of Representatives voted 422-0 to award the only all-Black, all-female military unit that served in Europe during World War II the Congressional Gold Medal. The 6888th Central Postal Battalion is credited with solving an urgent mail crisis in England when they arrived in Europe. The 855-membered group has for decades gone without proper recognition, but in recent years that has changed. In
Why Black Health is Wealth: Financial Experts Talk Black Retirement
By Megan Kirk The ever-growing racial wealth gap leaves little room for savings. As African Americans earn roughly 30 percent less than their white counterparts, putting away money for a rainy day can prove to be difficult. As African Americans age, financial stability becomes a major concern. Planning for the golden years is essential to survival of older generations, yet African Americans are falling behind. According to a 2021 study from Investopedia, more than half of African American households have no retirement savings at all. On average, white Americans
Dr. William F. Pickard and Cincinnati Business Leader Judson Pickard Receive Morehouse Honors
Morehouse College President, David A. Thomas presents Judson Pickard (left) and Dr. William F. Pickard (right) with Candle in the Dark Awards as actor Clifton Powell, Morehouse students look on. Photo Credit Alex JonesIn a city renowned for an elevated standard of living for Black Americans and celebrating the accomplishments of African American professionals, few events can rival Morehouse College’s Candle in the Dark scholarship benefit and gala. Fresh off the heels of a raging pandemic, The Candle in the Dark Gala took center stage, throwing open the
Who’s Who In Black Profile: Ernest Greer
Ernest Greer, a St. Louis native, is a President of Greenberg Traurig, a firm of over 2,100 attorneys and 41 locations. Ernest is one of the highest ranking African-Americans in a global law firm. Ernest has served in several leadership roles within his law firm, including Vice President of the firm (2013-2015) and the Atlanta office's Managing Shareholder for nearly a decade. Throughout the course of his career he has also maintained an active legal practice, trying cases across the country. His practice consists of the representation of