Mitchell, president and CEO of Washington, D.C.-based Industrial Bank (No. 8 on the BE Banks list with $382 million in assets), knew that while the bank hadn’t been involved in the subprime market, there was no way it could remain unscathed. A lot was at stake. Industrial is a third-generation family business that was founded in 1934 by Mitchell’s grandfather, in the midst of the Great Depression. The 49-year-old Mitchell wasn’t about to let it fail now.

But the economic climate at the time of the Great Recession meant nothing was safe. More than 35% of Industrial’s outstanding loans are tied to residential mortgages and home equity lines, 32% are linked to commercial real estate, 20% are with local churches, and 10% with small business loans. As the U.S. continued to hemorrhage jobs, tithing declined in churches, affecting their ability to make loan payments. “We’ve had quite a few problem loans—mostly in commercial real estate—that we’re still working through,” says Patricia Mitchell, executive vice president of sales/operations and sister to the CEO.

Despite these challenges, the bank managed to keep costs low in order to consistently remain profitable—even when the economy was the worst it’s been in a generation. And now, Industrial faces the challenge of increased regulation while eyeing the possible need to consolidate to grow assets and resources.

From Great Depression to Great Recession
In the 1930s, Jesse H. Mitchell was a vice president at Industrial Savings Bank, a black-owned bank that closed during the Great Depression. “So, my grandfather and a few of the people who had been associated with Industrial Savings got together and formed Industrial Bank because there wasn’t any other black-owned bank in D.C. at the time,” says Patricia, a graduate of Drexel University. In the middle of the Great Depression, Industrial Bank opened with $250,000 in assets and 470 shareholders on the corner of 11th Street NW and U, an area in the Shaw neighborhood known as Black Broadway since it was one of the few places where African Americans could go to enjoy nightlife. Over the years, the bank expanded and now has eight locations and 28 ATMs in the Washington, D.C., metro area.

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But that growth hasn’t been without its share of challenges, the most daunting of which came courtesy of a global financial crisis that left banks of all shapes and sizes scrambling to meet liquidity requirements and seeking government aid. “We didn’t think it would affect us as much as it did, but obviously that happened after September 2008, as panic went through Wall Street and the large banks,” says Mitchell. “We didn’t have any exposure to [mortgage-backed derivatives], but as the economy got worse it started to affect areas of our portfolio.”

As unemployment rose, the team began to identify potentially troubled loans as quickly as possible to ensure that the bank had the proper reserves. They began reappraising property—since values declined so sharply— and took write-downs on properties that were underwater. To ensure that borrowers could keep making payments, they contacted them and renegotiated terms.

“We’re still attempting to do modifications for some of our borrowers and shore up where we can,” Mitchell says, “but we’ve made provisions for loan losses.” Funds that would have gone toward the bottom line were reallocated, and reserves for bad loans were increased to $2.5 million in 2009, $2.1 million in 2010, and are likely to reach $2 million for 2011. “That’s a lot of money, but fortunately we did it before the examiners made us do it.”

But other measures needed to be taken as well. For example, vacant positions at the bank weren’t immediately filled. “We stopped officer bonuses, executive management bonuses.
We froze salaries for executive management,” says Mitchell, a graduate of Rutgers University. “We did everything we could to get through this. It didn’t feel good, but we have employees who understand that these are tough times.”

Financial results took a hit, but Industrial stayed in the black. Profits for 2008 totaled $1.8 million. For 2009, a year when many banks posted losses, Industrial netted $77,000. By 2010, profits grew to $303,000, and 2011 is forecast to come in at around $1 million.

Regulation Blues
While Industrial Bank deals with the aftereffects of the crisis, it must also contend with stricter regulation. Community banks have to comply with much of the regulation that’s aimed at curtailing the big banks that received bailout funds. But these smaller institutions, unlike the big banks, often struggle to secure the manpower and financial means they need to ensure compliance. As a result, Industrial is identifying new revenue lines.

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The traditional banking model is simple: Consumers deposit funds that a bank lends to businesses or other consumers while collecting fees for ATM use and other services. According to the Mitchells, Industrial is considering selling insurance and investment products, or offering such fee-based services as financial planning. Consolidation is also on the table. “We want to do an acquisition because the bank needs to be larger,” says Patricia. “There’s thousands of dollars in new compliance costs as a result of the new regulations, and the only way to absorb a lot of that is to grow. We are currently in a strategy to raise capital that will, in turn, lead to an acquisition.”

How to Obtain Bank Financing for Your Business

While small business loans slid 4.1% from 2009 to 2010, there was still some $310 million that banks extended. So while credit may be tight, capital is out there. But what do banks look for these days before extending a small business loan? “I think a lot of people have the impression that banking is rocket science,” says Douglas Dillon, senior vice president of commercial lending for Industrial Bank. “But even non-bankers can understand the basics.” He says banks look for the following criteria:

• Strong historical cash flows. A banker will first examine your income statement and bottom line, and then add back a few things that are fairly essential to the cash flow analysis, such as depreciation, a noncash expense. They’ll use the business’ interest expense to come up with a rudimentary cash flow number. “That’s important because bankers just want to have an idea of your capacity to repay their loan,” says Dillon.

•  A good debt-service coverage ratio. This is the ratio of cash available for debt servicing to interest, principal, and lease payments. The banker will calculate this by adding annual net income with amortization/depreciation, interest expense, and other items, and dividing that sum by the borrower’s loan principal, interest payments, and lease payments. “This is the key ratio that most bankers are going to look at,” Dillon says. He notes that most banks consider a debt-service coverage ratio of 1.20:1, or 1.25:1 to be very good.

•  Core financial strength versus just operational strength. Dillon cites loan applications from two restaurants, both of which look good operationally. “One has a little bit stronger following—both serve good food. But one negotiated a lease with a rent that’s below market and has low annual escalations. It’s also in an excellent location with major tenant improvement allowances from the landlord. Plus, it’s secured a contract, so some of its revenue is assured. The second did a good job establishing a financial foundation, but not as good as the first.” As a result, while both have operational strength, the first one also has a more established financial foundation.

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•  A solid credit score. There’s no getting around the fact that banks will look at the majority shareholder’s credit history. “It’s important to know your credit score. If it’s lower than 660 or 680, you need to start thinking about ways to improve it, if at all possible, before you walk into the bank,” says Dillon. “Now, if you don’t have a 660 credit score people may still take a look, but it makes it a bit harder. At some banks, your personal credit score for small business is one of the key determinants of whether the bank is willing to lend or not. That’s not necessarily the case with us, but a credit score is an indicator of ability and willingness to repay personal debt.”

•  Collateral. The C-word isn’t something many small business owners want to hear from a banker, but according to Dillon, collateral can come into play right behind cash flow in terms of importance. It is even more critical now as banks continue to try to mitigate risk. “We need to have a secondary source of repayment behind the operating cash flows of the business,” Dillon says. “That can be hard to find these days, so we sometimes use Small Business Administration guaranties to make loans where collateral strength is minimal. We’re utilizing the SBA’s CAPLines line of credit product and actively seeking out clients that need lines of credit. The SBA has made the product more attractive to lenders, and it helps mitigate some of the collateral concern so that we don’t necessarily need a 100% collateralized loan.” 

In fact, for some people, the holidays end up being a time of sadness and even stress-filled days. If you don’t live close to family members or don’t have anyone to celebrate the season with, the holiday season can sometimes be downright depressing. That’s when the symptoms of chronic depression, anxiety and other negative feelings can rear their ugly heads.

Add the cold and dreary days of winter in most regions to the mix, and you may not be in the mood to do anything close to celebrating.

Still, there are some ways to stay positive and even enjoy the season. Here are six effective ways to cope with depression during the holidays:

1. Don’t band-aid the problem

Don’t let negative emotions drive unhealthy habits, such as endless (and mindless) shopping sprees, binge eating episodes, or excessive drinking sessions.  Instead, refrain from engaging in any extreme behaviors that will only cause you additional mental, financial, or physical stress down the road. If you’re dealing with tough situations, take breaks, if only to clear your head and give yourself a little distance from stressful scenarios, people or environments.

2. Reach out for support

If close friends and family members have no idea what you’re going through, and you don’t feel you can clue them in on your troubles, look outside of your social circles and family for help. Seek out the help of a professional counselor or therapist so that you can talk about what you’re feeling. Your counselor can help you figure out what might have triggered your case of the “holiday blues” and give you a fresh perspective on situations that are making you feel sad.

3. Plan ahead

Feeling overwhelmed because you didn’t plan ahead or suddenly have too much on your plate can trigger stress and lead to depression. If you’re feeling “on edge” or anxious because there’s so much to do, start prioritizing and planning so you can take care of only the most important tasks. Taking the time to plan can make it easier to handle those hectic days ahead and might even keep depression at bay.

4. Talk to a trusted spiritual adviser

If difficult relationships with family members are making you angry, stressed, or depressed, seek out the help of a spiritual adviser to talk about your issues. Bottling up those emotions can backfire and make you feel even angrier or hostile. Many religious counselors have seen and heard it all. So don’t worry about shocking them or having them judge you. Just be honest about how you’re feeling so that your minister, clergy member or another trustworthy spiritual confidante can help you deal with any immediate problems and possibly help resolve the source of your anxiety or depression.

5. Maintain a healthy lifestyle

Skimping on sleep and eating unhealthy food can make this difficult time that much harder to cope with and successfully survive. So make sure you’re getting plenty of shuteye each night and eating well-balanced meals. If possible, try to also squeeze in a few workouts each week to take your mind off things and to promote overall physical well-being. Vigorous exercise will also release endorphins, lifting your overall mood as well.

6. Be realistic

Nobody has a “perfect” holiday and you may need to accommodate for some changes in your usual family traditions or rituals. Keep an open mind and don’t set your expectations too high. If you’re feeling tension between family members or things just aren’t working as planned, be willing to change direction and even try something new. Find ways to just enjoy your time together and make the most of it.

Even if mild or severe depression starts to kick in during the holidays, keep telling yourself that the situation isn’t permanent and neither are your feelings. If things get really bad, and you feel like you want to hurt yourself, do reach out to the toll-free hotline offered by the National Suicide Prevention Lifeline at 1-800-273-TALK (8255).

Otherwise, if all the December festivities occurring around you specifically triggered your case of the holiday blues, take comfort in knowing that – in all likelihood – your sad or negative emotions will pass after New Year’s Day has come and gone.

“Ask The Money Coach” is a syndicated column written by personal finance expert Lynnette Khalfani-Cox, co-founder of the free financial advice blog, AskTheMoneyCoach.com. Follow Lynnette on Twitter at @themoneycoach.

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The Monday blues and that feeling of not wanting to get out of bed can sometimes go beyond just a mood. More seriously, body aches, fatigue, headaches and weight gain can be symptoms of major health problems triggered by work-related stress.

Many workers are feeling the strain, both in their pockets as well as mind and body, but its never a good idea to jeopardize your physical and mental well-being all in the name of bringing home the bacon.

Madame Noire examines how to maintain good health while dealing with a stressful work environment.

Read more at Madame Noire …

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Though the U.S Senate recently voted against President Obama’s $447 billion jobs bill, everyday workers — employed and unemployed — still find ways to push forward, with persistence, faith and a will to remain positive by any means.

Despite continuously devastating setbacks, many professionals are finding motivation within themselves to triumph over the woes of unemployment. One of those is Marc, 32, a bachelor who managed to recently regain momentum after being out of work for two years.

THE DAY EVERYTHING CHANGED

When Marc went to work on February 18, 2009, he assumed it would be business as usual. He’d worked for one of the nation’s leading telecommunications companies for nine years, moving from a customer service rep to manager of large business accounts.  With a team of 13 staff members, Marc took pride in his career and enjoyed his work.

Though others had been laid off in the company, Marc was sure that he was safe and even joked at times that he’d be with the company forever. As a young, single professional with no kids, Marc was often the go-to guy for special projects and big accounts. His experience and ability to work long, late hours often resulted in more work, especially since so many others had been laid off.  When he was called into his boss’ office that day, he assumed it was to discuss a new project — until he saw another colleague leave in tears.

Marc was given 30 days notice of his termination.

Completely shocked and unprepared, Marc had no idea of what to do next.  He had never been unemployed and had spent almost of all his adult years working for a company that no longer needed him. For the first year, in a state of denial, Marc decided that he’d make the use his severance pay and unemployment insurance to  vacations, spend time with family, and live an adventurous stress-free life.  “I did all the things that I could never do because I was always working so much.”

A WAKE-UP CALL

Marc was in no rush to get back into the job market until the day his mom gave him a much needed wake-up call.  “She asked me how long I was going to live like this.”  This was the just the reality check that Marc needed especially since his money had begun to run out.

It had been years since Marc had been on the job market, and he honestly thought it wouldn’t be that difficult to find a new job.  “I never had a hard time finding work in the past. I didn’t think it would be this difficult.”

After a few months of sending out tons of resumes and even going on several interviews, Marc got no job offers. The intensity of being unemployed at the height of the recession began to take a toll on him. He found himself at a disadvantage because he never completed his bachelor’s degree. “I had friends with master’s degrees who also couldn’t find a job. So, I knew if they were having a hard time, it would be even harder for me.”

There was a slight gleam of hope when Marc took a position with another major telecommunications company in March 2010.  However, after three months he realized he couldn’t afford to keep the job because the cost of the commute was actually more than what he was being paid. He was once again back to being unemployed (this time with no unemployment insurance) and had become very discouraged. “There were days that I didn’t get out of bed until 4 p.m. I guess you can say I was depressed.”

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GETTING BACK IN THE GAME

There was one place that he’d always had a desire to be more involved in but didn’t have the time to fully devote to: church. Deciding to become more active, he began helping to develop his church’s community development corporation, lending his planning, creative, and technical skills to improve and spearhead much of the organization’s projects.  “I felt like God was telling me to put Him first.  When I had a job, I didn’t have time for the church. Now was the time to give back.”  As a result of his work with the church, Marc was asked to do work for other individuals and organizations which helped to bring in some income.

With the faith and support from his church, family, and friends, along with a new stream of income coming in, Marc got motivated to get back out there. He began getting up early every day as if he were going to work. “Looking for a job was my job.” He began to expanding his net, humbling himself and considering positions that hadn’t previously been on his radar.

Eventually, his hard work and humility paid off. He applied and landed an interview for a position as a dispatcher for a leading medical alert company. After three interviews, Marc was no longer being considered for the dispatch position but was asked to lead the company’s new quality assurance department.

Today, Marc is the quality assurance manager for the company, providing service to elderly and home-bound clients.  Though he doesn’t make as much as he did with the telecommunications company, Marc has a job that he loves and is proud of the work he does to help those in need.

LESSONS LEARNED

Don’t waste time: Marc spent his first year of unemployment traveling and visiting family and friends because he didn’t want to face the reality of being out of work.  He urges others who are unemployed not to put off getting back into the job market.  “The longer you’re out of work, the harder it is to find a job.”  Marc doesn’t regret the time spent with his family, but says if he had to do it over again, he would have been looking for a job at the same time.

Develop a schedule or routine for your day as if you’re employed: The hardest part of going back to work, Marc says, was having to get back into a regular schedule.  After almost two years of staying up late and waking up even later, it was difficult for Marc to get back into the routine of working.  Since looking for a job really is a full-time commitment, job seekers are encouraged to keep the same schedule that they would if they were working.  Fortunately, Marc learned this lesson early on and was able to smoothly transition into his new career.

Education is vital: Marc didn’t realize how significant a college degree was until he found himself out of work and competing with others who had several. As a result, he has registered and is scheduled to return to school in January 2012. With a major in Accounting and a minor in Marketing, Marc is confident that he’ll be in a much better position should he ever find himself unemployed again. Also, he wants to pursue a career in accounting, a skill that lends itself to full-time and freelance opportunities.

Aisha Taylor (@realTAYLORmade) is co-owner and chief consultant at TAYLORmade Professional Career Consulting, a Web-based, full-service career consulting company committed to “equipping, preparing, and empowering today’s professional” globally. Check out her weekly insights on job-seeking and interviewing success every Friday on BlackEnterprise.com.

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According to the United States Bureau of Labor, 9.1% of the labor force is currently unemployed. This rate is significantly higher among African Americans, at more than 16%, the highest among any group in the United States. These staggering statistics reflect the hard reality that so many professionals face each day. With  many qualified, educated, and experienced Black Americans out of work, the job market has become increasingly competitive and hard to navigate.

President Obama’s proposal of the American Jobs Act seeks to alleviate our country’s burden of record-high unemployment rates, but it could be quite some time before many American’s return to work. Even with unemployment insurance extensions, many are finding themselves unemployed longer than the average 2-year period of receipt.

So, what does one do in the meantime? Do we sit and hope and pray for a miracle? Or, do we regain momentum and strive to make the most out of being out of work? While being unemployed can be a very stressful and uncertain time for many, it can also become a time for reflection, rejuvenation, and renewal. With the right attitude, an assertive approach, and immense faith, unemployment can materialize into just the change one needs.

Here, we share the story of Marie, 60, stepped out on faith after losing a job she had for decades to transition into an industry she never even knew she could strive in. Be inspired by her perseverance and the lessons she learned in her journey back into the workforce:

NOT READY TO RETIRE

When *Marie learned that her position with one of our country’s leading insurance firms would be dissolved in 2009, she thought that her life had crashed in an instant. After 39 years on the job, she felt lost, afraid and didn’t know which way to turn. Marie was in no way ready to retire and had several years before she’d be able to collect social security. But for Marie, it was about more than not knowing how she’d survive financially. Marie enjoyed her job and the thought of not seeing or working with people that she had been with for so many years made her quite sad. “We were like family,” she says. “We watched each others kids grow up.” With no college education, Marie was convinced that there would be no place for her in today’s job market. She hadn’t written a resume in decades and couldn’t remember the last time she went on a job interview. She was a pro at what she did at the company, but didn’t feel that she had many skills outside of that job.

After a period of fighting depression, Marie began to regain her courage. She sought the help of a professional career consultant and had her resume professionally prepared. Though she feared rejection, she put her apprehensions aside and began searching for employment. Initially, she didn’t receive any responses from employers and started to feel discouraged. When her unemployment insurance was about to end, she became even more concerned about how she’d survive financially. Nevertheless, she continued to work toward her goal. She began taking computer classes in order to maintain and improve her technical skills. She asked colleagues, family, and friends to let her know about any job openings. She became active with her church’s health and wellness ministry and volunteered whenever she could. Marie was determined to not become consumed by the uncertainty of her future. Instead, she did as much as she could to stay busy and active, all while looking for a new job.

STUMBLING UPON SUCCESS

Besides her career in the insurance industry, there was one other thing that Marie was always good at: shopping. She, like most women, has always enjoyed shopping and often found herself participating in a little retail therapy while unemployed. When she went to return a purchase this summer at one of her favorite department stores, she ran into a young woman from her church who was out for lunch. After sharing her desire to work again, the young woman encouraged Marie to go apply at the very store where she was headed to make her return. Despite her fear of rejection, she took a step out on faith and headed to the HR department. Without even a resume in hand, Marie applied, interviewed, and was hired on the spot as a retail associate at one of the country’s largest department stores. Her infectious personality and winning communication skills landed her a new job, when she least expected it. “I still can’t believe they hired me. I always expected that employers would prefer someone younger.”

The reality is that Marie is the only one who was surprised by her new career in retail sales. “All of the managers, my friends, and even customers tell me that I’m a perfect fit for retail.” Since she began her new position, Marie has regained her confidence and has found a new career that she absolutely loves. “I love meeting new people and I love to shop. I never imagined that I’d find a new job that I love so much.” Marie is one of the most senior store employees, at 60, but she doesn’t let her age get in the way. “I’m just thankful to have a job. I enjoy coming to work and I love helping the customers. I’m just glad that I still have something to offer, even at my age.”

LESSONS LEARNED

Never give up: Though she was faced with a devastating job loss, and had been unemployed for almost two years, Marie was persistent. It’s extremely important that professionals don’t allow a job loss to get them stuck in a rut.

Use time being unemployed wisely: Don’t let your pride get in the way. Marie wasn’t afraid to ask for help. She let everyone know that she was looking for work and her candid approach ultimately led her to her new career. Oftentimes, we are ashamed or embarrassed and don’t want others to know that we aren’t working. However, hiding our need for employment only closes doors of opportunity that might otherwise be opened.

Tap into your passions and try something new: The greatest lesson that we learn from Marie is that we don’t know what we’re capable of until we try. “When I first started, I was terrified,” she says. “I hadn’t worked in almost two years and didn’t want to mess up. But once I got the hang of it, I realized that not only could I do this job, but I could do it well.” Sometimes we can surprise ourselves if we just take the initiative to try something new. Marie’s job loss was a huge challenge…one that she thought she’d never overcome. But with a little patience and much perseverance, she ended up right where she never knew she belonged!

Check us out during the next few weeks where we share real-life stories and lessons on how to triumph over unemployment.

Also, e-mail your job-seeking story or questions to careerquestions@blackenterprise.com.

Aisha Taylor (@realTAYLORmade) is co-owner and chief consultant at TAYLORmade Professional Career Consulting, a Web-based, full-service career consulting company committed to “equipping, preparing, and empowering today’s professional” globally. Check out her weekly insights on job-seeking and interviewing success every Friday on BlackEnterprise.com.

Practice Makes Perfect. You’ve got the 9 to 5 job. Your bills are getting paid, you’re making new friends, but in the back of your mind, you know you want to spend that 9 to 5 writing stories, designing layouts, making clothes–doing something that pertains to the degree you spent four or more years obtaining. So it’s 5 p.m. and you’re on your way home, now what? Free time available after you do your everyday gig should be spent honing the craft you’re most interested in. You like to write? Big on sharing your opinion with others? Create a colorful Tumblr page. You want to show off your design experience? Work on a website or re-construct some of your favorite ads to throw in your portfolio. Hope to be the next Alexander McQueen? Keep those sketches coming and continue crafting unique pieces. Look for freelance opportunities that are flexible, but keep busy. A true hustler uses free time to their benefit to become better at what they really want to do, so intern, volunteer, whatever you do, you better work!

Read more at Madame Noire …

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Kathy Slaughter often wakes up in the middle of the night, thinking off all of the what-ifs that could occur once her daughter Allison, 18, starts her freshman year of college at Stanford University next month.

What if Allison ends up disliking the school or needs something? Or what is she becomes sick and Slaughter, who lives in Evanston, Ill., is too far away to help? These are just a couple of the scenarios she entertains.

“I think about it all of the time, and I feel much stress any time I think that she’s going so far away,” Slaughter admits. “There’s no way I could get to her in a hurry if I needed to. It would literally take half a day and a whole lot of money,” she says, adding that Allison is her youngest child, and that her leaving means she and her husband will now be empty nesters.

Slaughter may sound like an overprotective parent, but the separation anxiety she’s experiencing is very common. Dr. Janet Sallo Joyce, a Boulder, Colorado-based clinical psychologist, says separation anxiety is mostly based on fears of letting go of someone vital in your life, as well as fears about what types of changes will occur as a result of that transition. When it comes to children going away for school, sometimes it’s parents who have a harder time adjusting, she says. In other instances it’s students who struggle with it.

But, she says, “if the feelings are there, but are manageable and are not negatively impacting relationships, home life or work life, then they probably fall within the category of ‘normal.’”

Dr. Pamela Ellis, a Dayton, Ohio-based educational consultant and founder of Campus Education Strategies, says there are things parents can do ahead of time to get in front of the emotions tied to separation anxiety. She recommends families visit the campus prior to enrollment and get a sense of the layout and the student’s classes and daily schedule.

Ellis also recommends parents make connections with any administrators, faculty or other people in the community who are near the campus, and seek out family members or other people within their professional networks who are in the area and establish those relationships with the students, steps Slaughter has taken with her daughter at Stanford.

“That’s important from the standpoint of the student having another adult resource there and helps with the transition process because often time when students start they may not know anyone else other than other students or people in the dorm,” says Ellis, also recommends the book Letting Go: A Parent’s Guide to Today’s College Experience, (Adler & Adler) as a resource for parents.

Staying conected (Image: Thinkstock)

Even with the excitement surrounding their new-found freedom, some students will have challenges making new friends, living in small accommodations with a stranger and facing the pressures of academic life, which could trigger depression.

A study published in January by the American Journal of Orthopsychiatry reports that roughly 25% of students visiting on-campus health clinics were diagnosed with depression.  Depression warning signs include increased anger or agitation, sudden changes in the number of times the student calls home, a sudden decline in grades, any kind of talk of suicide or of giving away personal possessions and excessive drinking or drug use, Dr. Joyce says.

Joyce also warns that African American students attending institutions where they are the minority may experience more social isolation and are more prone to depression than white students.

“There can be additional pressures that these students experience such as feeling like an ‘ambassador’ or feeling pressure to try to fit in. Sometimes Black male students feel that in order to fit in and to not ‘seem intimidating’ to white students, they can’t really be themselves,” Joyce says, adding this can increase their already existing stresses and can potentially cause an increase in anxiety and depression.

But getting African American students to open up about depression is a whole other animal.

“With black students, it’s a little different and more nuanced because generally we may suffer depression. But talking about it and seeking out services has always been a little different than other populations because it’s always been a little taboo in our community,” says Ellis.

Dr. Joyce says one of the crucial things for parents and students to remember is to keep the lines of communication open, and create an environment where both feel safe to express their feelings of fear, sadness or anxiety.  “I always encourage students and parents to talk openly about feelings of depression, and to never overlook talk of suicide. Often people have the idea that talking about suicide will give someone the idea to do it, but this is not the case,” she says.

Students experiencing any symptoms of depression are encouraged to seek professional support by visiting the on-campus student health center, which usually includes a mental health department, or a qualified professional in the community.

If you or someone you know is experiencing depression, there’s help. Please contact one of the resources below for assistance.

Suicide Hotline: 1-800-SUICIDE
National Suicide Prevention Helpline: 1-800-273-TALK
National Adolescent Suicide Hotline: 1-800-621-4000
NDMDA Depression Hotline: 1-800-826-3632
Crisis Help Line: 1-800-233-4357

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Recently, I was invited to give a speech on the economic empowerment of women. I’m usually pretty relaxed about public speaking, but this was a heavy duty group of mostly female politicians, philanthropists, entrepreneurs, executives, and internationally renowned women’s rights activists, including Kerry Kennedy Cuomo and Naomi Tutu.

The assigned topic was fodder for tons of statistics, some encouraging and others deeply disturbing. The speech had the potential to be very heavy, which I wanted to avoid. So, along with all the sober economic news and calls for ongoing vigilance in the fight for gender equality, I talked a lot about my mom.

Vera Clarke has always been a walking testimony to women’s financial independence. Most of her lessons in economic empowerment were stated explicitly and often. Others were self-evident but never lost on me, her only child.

First and foremost, she urged me to always have my own job and my own money, including a secret account—as in secret from my husband. A Depression-era child whose father worked several jobs while her mom raised five kids, she loved her own mother deeply but didn’t want her life. So, she became the first in her family to graduate from college, she got a master’s degree and began a career in education, a field that she knew would allow her to balance the work-mother scales well.

My mom insisted that any woman who works outside the home should pay someone else to clean the inside of her home. I know cleaning is therapeutic for some people but my mother is not one of them, and I’m here to testify that the apple doesn’t fall far from the tree! She made it clear that hiring other women to help with the house or my after-school care wasn’t just helpful to her, it was helpful to them, enabling them to do for their families and pursue their dreams as well.

“Money is freedom,” she always said. “If you have it, you can go where you want, buy what you want, and do what you want. If you don’t, you will always be trying to get someone’s permission.”

The amount of money one made was never her preoccupation. “Don’t measure yourself by what you have,” she’d say. “Measure yourself by what you have accomplished.”

The handling of whatever amount you had was what counted. As a New York City public school teacher, she never made a killing and, in 50 years of marriage, she never earned as much as my father did. But she had an equal say in the family’s financial decisions and she made the most of what she had on her own terms, treating herself to cultural events my dad had no interest in, trips he couldn’t get away for, and generally buying whatever she damn well pleased (which often meant surprise gifts for him or me).

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Don’t get me wrong: She lived well within her means. In fact, she lived below her means (another great lesson I wish I’d learned better). But my parents often disagreed about what those means were. My dad was more financially conservative (some might say cheap) than my mom was. She wasn’t a big spender, but she was a big giver and a big believer in indulging a fantasy from time to time. She often took the life’s-too-short approach to financial decisions (as in life’s too short not to get those shoes, go on that vacation or spring for those really good concert tickets)—something my dad never did.

Whenever my parents reached an especially tense impasse over financial issues, she’d end the argument by channeling her best Billie Holiday and belting out, “God Bless the Child That’s Got It’s Own.” This drove my father crazy, but he never figured out how to override her message, which was clear: “I’ve got mine, and I’ll decide what to do with it.” That, even to my child’s eye, was clearly a form of power and she wielded it well.

My mom’s other lessons in economic empowerment were gleaned less directly. She and my dad had a joint bank account, joint ownership of their home, they paid joint taxes and made all significant purchases jointly. But, in addition to their shared holdings, she made sure she had her own credit card accounts, her own investments, and her own credit rating. She was mindful of finding bargains but she understood quality and she never sacrificed one for the other.

“It’s not a steal if it’s garbage,” she’d say, whenever I spotted something she deemed unworthy of any price tag. “Unless they’re paying you to take it home, you’re getting taken.”

In a pinch, my mom could always “find” money in the house—and not just pocket change, but significant amounts tucked away in unused coffee cups, between the pages of books, or inside old boxes kept on high shelves. She never said a word about this, but I knew that if the world fell apart, she could buy enough food or gas or water to keep us afloat until somebody figured out how to put it back together.

When New York offered its most experienced teachers an early buyout package, she took it, maxing out her pension and benefits without putting in the extra time. Now widowed, she’s still stubbornly independent on every front and still as generous as the day is long.

She takes pleasure in giving to the causes she deems worthy and to her grandchildren often for no reason at all. Every once in a while, she asks them to lift an old coffee or juice jar for her, claiming to be testing their strength. Filled to the brim with coins, the jars weigh a ton, but if the kids can lift one, she says, they get to keep it. The record, so far, is held by my daughter, who emptied her jar into the CoinStar once and got back more than $100. That’s not a bad haul for picking up an old jar of loose change. And it’s not a bad lesson to learn young: Every little bit counts. It’s a lesson, like the ones my mother taught me, that will last a lifetime.

Government shutdown nears as G.O.P. and Democrats battle it out (Image: File)

• Possible Government Shutdown Approaches

Little progress was made after the White House emergency budget meeting last night. Majority Leader and Senator of Nevada Harry Reid said Thursday he was not optimistic about avoiding a Saturday shutdown, The New York Times reported. If the GOP and Democrats don’t come to a resolution before the clock strikes midnight Friday, it will be lights out on Capitol Hill.

The potential government shutdown stems from the Republicans and Democrats battle over Washington’s role in the U.S. economy, more specifically spending issues on abortion, health care and the environment.

The hostility was evident at Tuesday’s White House meeting, and again on Capitol Hill, as House Speaker John Boehner and Reid exchanged words over short-term and long-term government funding plans.

• Deputy Mayor Walcott Named New NYC Schools Chancellor

Cathleen Black’s three-month tenure as New York City Chancellor came to a halt today when the former Hearst Magazines executive stepped down, upon Mayor Michael Bloomberg’s request. Mr. Bloomberg announced at the news conference Black will be replaced by Deputy Mayor Dennis M. Walcott.

“For the past nine years, Dennis has been a key part of all our education reform issues,” Bloomberg said. “He has been involved in our schools at every level, as a student, as a teacher, as a parent and a deputy mayor.”

Walcott describes the opportunity as a blessing. “To me, the great equalizer in society is ensuring that every child receives a quality education, especially a quality education.”

• Donna Brazile Steps In As Interim DNC Chair

Former Clinton administration adviser Donna Brazile will serves as interim chairwoman for the Democratic National Committee until Rep. Debbie Wasserman Schultz of Florida is officially elected to the position, according to Politico.com.

Brazile, whose term is set at two weeks, is filling in the gap in leadership left by Tim Kaine who is running for Senate in Virginia.

• Opposition Forces Storm Presidential Residence in the Ivory Coast

Forces aligned with Ivory Coast’s elected President Alassane Ouattara stormed the residence of his rival, Laurent Gbagdo, on Wednesday, according to a spokesman for Ouattara—the official winner of last year’s presidential elections. While he remains in a bunker within his home, French forces rescued the Japanese ambassador, whose residence is in close proximity to Gbagdo’s compound.

The motive for the attack was “to seize Gbagdo physically and, if he is alive, to bring him to justice,” said spokesman Apollinaire Yapi, according to The Times. The onslaught comes after Gbagdo refused French and United Nations appeals to leave.

Japan and the U.N. called for the French to intervene, rescuing the Japanese ambassador and seven others, Wednesday night.

The Nov. 28 presidential election sparked the country’s second civil war in a decade.

• CDC Confirms Japanese Radiation Scare is at Bay

The Centers for Disease Control and Prevention Director Dr. Thomas Frieden confirmed Tuesday that the small amounts of radiation detected stateside does not pose a risk to Americans.

Friedman ensures that agencies such as U.S. Department of Agriculture, the Food and Drug Administration, the Environmental Protection Agency, including the CDC, are all actively monitoring the air, food and the water supplies in the U.S. for any traces of contamination.

“We do not expect radiation to reach problematic levels,” said the CDC director on a conference call with reporters.

• Health Magazine Lists Top 10 Most Depressing Careers

The day-to-day stress factors at one’s job can get a little out of hand (at times), but are some careers just down-right depressing?

According to Health magazine, which ranked the top 10 (out of 21 major job categories) depressing jobs, full-time workers are most likely to report a depression-linked episode in a given year, there are. The glossy’s list includes: nursing home/child-care workers; food service staff; social workers; health-care workers; artists, entertainers, writers; teachers; administrative support staff; maintenance and ground workers; financial advisors and accountants, and salespeople.

• NBA Star Carmelo Anthony Inks Deal with JPC

New York Knicks forward Carmelo Anthony signed a multiyear deal as the corporate spokesperson for ethnic hair care pioneer Johnson Products Company, promoting the company’s Ultra Sheen Men line.

The deal with Carmelo will feature the athlete in marketing, community outreach programs, advertising and promotional campaigns, as well as personal appearances for the brand.

“I am very excited about joining the team at Johnson Products Company. I have fond memories of Ultra Sheen products from my childhood days and they have such a long-standing and rich reputation that it was very easy for me to agree to be a part of this new effort,” said Anthony, in a press report. “Being a part of the Ultra Sheen Men launch and influencing young men to ‘Step Up Their Game’ in every aspect of their lives is truly what I am all about.”

Headline news (Courtesy of Thinkstock)

• Mo’ Money, Mo’ Problems: African American Males Making Over 80K at Greater Risk of Depression

Most men aspire to climb the ladder of opportunities, but does it cost them their mental health? According to a recent survey, it does.

A newly-released study reports Black men making $80,000 and over are more likely to report depression than males who make $17,000 and below.

• NPR Ousts CEO Vivian Schiller

Chairman of the National Public Radio’s board of directors, David Edward, released a statement announcing the media organization accepts the president and chief-executive-officer’s resignation, but David Folkenflik is tweeting a different story.

“The board for NPR NEWS has just ousted CEO Vivian Schiller in the wake of video sting by conservative activist of a top exec,” said the NPR Media correspondent via Twitter.

On the other hand, Edwards’ statement implies it was a resignation, not a provoked removal.“The board accepted Vivian’s resignation with understanding, genuine regret and great respect for her leadership of NPR these past two years.”

Schiller’s departure comes after her fellow executive, Ron Schiller, which she has no relation to, accused the Tea Party of being “seriously racist.” Vivian also received flack for firing Juan Williams.

• Quincy Jones Enters Into International Multi-Media Venture

Music industry veteran turned multi-media entrepreneur Quincy Jones has teamed up with United Arab Emirates entrepreneur Badr Jafar, entering into a joint business venture, The Global Gumbo Group, with plans of expanding multi-media opportunities across all entertainment platforms: publishing, film, music, television and digital applications.

“It is my hope that this partnership with my dear friend Badr Jafar will provide a cultural exchange between the West and the Middle East and North Africa that will foster a better understanding of these regions and an appreciation for our common values at this crucial time in the region’s history,” said Jones.

The business partners plan to expose the specific regions—the West, Middle East and North Africa—to live entertainment and new artists and talent. Jones will serve as chairman of the board, while Jafar will carry out the role of president.