business, growth, new, year, strategies, 2024, customer service, technology

by Jaimee Ratliff

September 8, 2023

Millionaire Mastermind Academy Invests $30K Into Arizona Black-Owned Businesses

The Millionaire Mastermind Academy, a nonprofit organization that seeks to address the barriers to economic mobility for systemically underserved Black entrepreneurs, announced that it will give $30,000 in grants to small minority-owned businesses in Arizona.

According to Benzinga, Millionaire Mastermind Academy will partner with Elevate Together(R) powered by Round It Up America(R) to invest in the upward mobility of Black-owned businesses and the eradication of the ever-present racial wealth gap. “We are thrilled to partner with Elevate Together to offer grants to business owners within the Impact AZ Program, which is working to close the racial wealth gap through supplier diversity readiness technical assistance,” said Founder and CEO Dr. Velma Trayham. Through the partnership, Elevate Together continues its mission to help accelerate the creation, growth, and prosperity of Black- and Hispanic-owned small businesses through education, access, and aid.

The organization has been a longtime collaborator with the National Urban League‘s Entrepreneurship Centers and the United States Hispanic Chamber of Commerce.

The Millionaire Mastermind Academy and Elevate Together will also have the corporate backing of The ODP Corporation—the parent company of Office Depot, ODP Business Solutions, Veyer, and Varis—which made an initial investment to help kickstart the initiative. “We’re excited to collaborate with the Millionaire Mastermind Academy to provide cash grants and certified small business mentors to help them elevate their business,” said Sharu Goodwyn, Community Investment Manager for The ODP Corporation. “With support from our associates, customers, community partners, and other like-minded businesses, we look forward to fostering additional opportunities for Black- and Hispanic-owned small business owners to innovate, grow, and prosper.”

To date, the Millionaire Mastermind Academy has supported 8,000 women through technical assistance and economic empowerment programs; while also having a committed focus on empowering minority entrepreneurs with professional networks and tools for sustained growth.

by BLACK ENTERPRISE Editors

September 8, 2023

Black Non-Profit Organization Alleges Systemic Financial Discrimination by PNC Bank

In a shocking turn of events, questions arise about potential systemic financial discrimination within the banking sector as Prodigal Sons and Daughters (PSD), a longstanding black non-profit organization, alleges that PNC Bank has denied them crucial funding. The incident has drawn attention to the broader issue of fairness and equity in financial services.

Prodigal Sons and Daughters (PSD), a community-focused non-profit with a track record of over 25 years of service to minority communities, is facing an unexpected hurdle. After an eight-month wait, PSD finally received an Employee Retention Tax Credit (ERTC) refund of $488,000. This funding was earmarked for supporting community initiatives such as food banks and youth programs in New Jersey, Florida, and Georgia. However, PNC Bank has put the funds on hold, citing the need to investigate PSD’s legal status.

The delay and potential freeze of funds have caused significant disruptions to PSD’s operations, affecting numerous individuals who rely on their services. The timing and nature of PNC Bank’s actions have raised eyebrows, prompting concerns about whether this incident is an isolated procedural matter or indicative of a larger pattern of systemic bias against minority entities.

“PSD’s commitment to our communities has been unwavering for decades,” said Dennis Porter, Founder of Prodigal Sons and Daughters. “We find it deeply disheartening that our access to funds vital to our mission has been impeded in such a manner. This incident raises serious questions about the treatment of Black and minority organizations in the financial landscape.”

While PNC Bank has not officially commented on the incident, advocates and supporters of PSD are rallying to shed light on the situation. Historically, financial discrimination against black and minority entities has left a lasting impact, and incidents like these fuel concerns that such biases may still be prevalent in the modern financial sector.

In response, the public is being urged to engage with the issue and demand transparency and fairness from financial institutions. The Prodigal Sons and Daughters case serves as a stark reminder that non-profit organizations working to uplift communities deserve equitable treatment, free from unnecessary obstacles.

This article first appeared on blacknews.com

by Sharelle B. McNair

September 8, 2023

Former NFL Player Ricky Williams Advocates For Cannabis Use To Treat Players

Cannabis is used for more than just feeling good.

Former NFL player Ricky Williams, whose legal name is now Errick Miron, advocates for the league to use cannabis to treat its players, CBS Sports reports. The Heisman Trophy winner has spoken out numerous times on how the NFL could benefit from it beyond just allowing players to use it. “I think the next step, though, is at the end of a game, if we’re on the plane ride home, the trainer is walking down the aisle and has two capsule cases — one of Ambien, and the other one of Vicodin,” Miron said.

“And the truth is, for football players, we do need something because it hurts, and you’re all revved up, and it’s hard to calm down and go to sleep. And I’d love to see cannabis as being one of those things that the trainer is walking down the aisle and offering to those players.”

The league has changed its testing policies. In 2021, the new policy stated that players are to be tested at the start of training camp, and punishments are far less harsh than in the past. When Miron was playing for the league, he was suspended multiple times for marijuana use. In May 2004, Miron was suspended just a few months shy of his stunning retirement decision. After coming out of retirement in 2005, he was suspended for the entire 2006 season for violating the NFL’s drug policy.

Eventually, he was reinstated in 2007 and officially retired in February 2012.

Miron has been outspoken about how marijuana has been effective for his mental health and started his own lifestyle brand, Highsman, according to TMZ Sports. He says his entrepreneurial journey has been nothing but positive. “We have an authentic message, and people are growing some really amazing flower that can really help people feel better,” Miron added. “If we can be a person that can make that connection on the cannabis side, that feels great to us.”

With the NFL changing its policy, more players are expected to use marijuana. In an interview, Kansas City Chiefs star Travis Kelce said that he estimates 50% to 80% of players currently use cannabis.

by BLACK ENTERPRISE Editors

September 8, 2023

Stock Trading Experts Create Fun Online Game to Teach African Americans How to Trade Options

Meet J.R. Fenwick (known as “The Stock FLipper”) and Eric V. Johnson (known as “The Options Professor”), the creators of an online game called FLip That Option. The two have been trading in the stock market for over 15 years. After meeting each other over 8 years ago and becoming fast friends and business partners, they have since helped over 35,000 people learn about the stock market.

Many perceive the stock market as too complex, time-consuming, and expensive to get involved in. African Americans lag behind others drastically when it comes to investing and trading in the stock market, which accounts for much of the wealth gap between Blacks and whites. J.R. and Eric are changing that. They specialize in teaching beginners a fun, non-complicated, and non-intimidating way to learn the stock market and become active traders.

Most recently they collaborated and developed “FLip That Option” a fun, easy, and interactive online game to teach beginners how to trade options. Trading Options offers the unique ability to make money daily and weekly which can be used to pay for bills, travel, or anything else you want to use the money for. Once you learn to play the game, it takes less than 5 minutes to place a trade during the day on your laptop, tablet, or smartphone. You can even do it while at work.

“This is a skillset you can use the rest of your life and we are committed to teaching as many of our people as possible the valuable and life-changing skill of trading options,” says J.R. and Eric.

The FLip That Option game teaches what is an option, how to make money trading options, how to open a special account to trade options, how to find options to trade, and various option strategies, all while using the latest technology to trade.

Additionally, they have a private online community that includes live weekly training, teaching modules, live chat, and daily “thought bubbles” which are live commentaries about trading opportunities each day.

If you have ever wanted to learn about the stock market and trading options, now is your chance.

To learn to play the FLip That Option Game and generate income, visit FLipThatOption.com

This news first appeared on blacknews.com

credit cards, personal finance, credit scores, debt, credit karma, FTC

by Jeffrey McKinney

September 8, 2023

Four Ways To Reduce What You Owe As Credit Card Debt Exceeds $1 Trillion

As credit card delinquencies rise nationally, Black Americans facing financial disadvantages could be impacted even more.

That is a view from Monique White, the Head of Community at Self Financial, a credit-building platform with products geared to make building credit accessible for consumers with low or no credit. White has over 10 years of experience in the financial industry and was formerly a financial coach with Operation HOPE.

White provided BLACK ENTERPRISE email commentary of new studies indicating that 46% of Black adults have been denied in their application for credit versus 22% of white adults. Further, the finding comes amid reports of an increasing number of Americans sliding behind on monthly credit card payments.

Credit card debt surged by $45 billion to a banner level of $1.03 trillion in the second quarter of 2023, per the Federal Reserve Bank of New York. Another report revealed the Fed’s barometer of credit card debt 30 or more days late climbed to 7.2% in the quarter, the largest increase since the first quarter of 2012.

White shared some of the biggest repercussions of missing credit card payments. According to her, many people underestimate the impact of credit on your ability to build lasting wealth and achieve your financial goals. For example, a good credit score can help you apply for a mortgage or take out a loan, all of which will bolster your future financial profile.

However, she added, establishing a strong credit history is not easy.

“And with missed payments making up 35% of your credit score, high delinquency rates will lead to lower credit scores—putting more boundaries between you and those big milestones in life. Late payments can stay on your credit report for up to seven years. And rebuilding your credit, after several missed payments, can cost you more time and money,” she explained.

Here are some steps that White says credit card users can take to mitigate the impact of late payments and work toward fixing their credit score:

“Set up automatic payments: Most credit card companies give you the option to set up automatic payments to avoid missing your payments. This will not only protect your credit score but ensure that you are not paying extra late fees or penalties.”

“Utilize your existing bills to build credit: Many people don’t know there are multiple ways to increase your credit score. For example, you can now report your biggest monthly payments, such as your rent and utilities, to the three major credit bureaus to help bolster your credit. This adds new trade lines and payment history to your credit report, important factors in your score.”

“Make sure you are constantly reviewing your credit report: Having a clear sense of what is impacting your credit score–any errors or changes– is crucial to make the necessary changes to bolster your score.”

“Create a budget: Inevitably, your credit score is linked to your overall finances. As you work toward increasing your financial profile, take some time to evaluate what works and what doesn’t when it comes to your finances. Nobody knows your finances better than you, so make sure that you are creating a budget that is sympathetic to your needs, your income, and your long-term goals. Make necessary changes that can benefit you in the short term, including canceling subscriptions or identifying areas in your life where you can cut spending.”

Check out more informative tips here.

Mississippi Officers Terminated, Facing Disciplinary Action After Arrest Of Black Child

by Lauren Nutall

September 7, 2023

Mississippi Officers Terminated, Facing Disciplinary Action After Arrest Of Black Child

A Mississippi police officer has been terminated after taking a 10-year-old Black child into custody for public urination, according to Senatobia Police Chief Richard Chandler. In a statement posted to Facebook, Chandler relayed the events of Aug. 10, when the former officer discovered the young boy urinating behind a vehicle. His mother, who was not present at the time and was at a nearby business, was informed that her son would receive a Youth Court Referral. The boy was then transported to the local police station and released into his mother’s care.

The decision to take the child into custody sparked controversy across social media. In the statement, Chander responded to the backlash, saying, “Under these circumstances, it was an error in judgment for us to transport the child to the police station since the mother was present at that time as a reasonable alternative. Mistakes like this are a reminder in this profession as to the continual need for training and refreshers on the various topics that we encounter each day.”

The boy’s mother, Latonya Eason, spoke to CBS News outlet WREG about her dissatisfaction with the police chief’s response. “His apology is not good enough for me,” she said. Eason shared her recollection of events with FOX13 Memphis, saying she had been at a nearby attorney’s office when the officer notified her about her son. “I was like, son, why did you do that? He said, ‘Mom, my sister said they don’t have a bathroom there,’ I was like you knew better; you should have come and asked me if they had a restroom. He was like you handled it like a mom. He can get back in the car,” Eason shared. Though the child initially received a warning, the situation escalated as more officers arrived at the scene. This escalation eventually culminated in the child’s arrest. Upon arrival at the police station, he was kept in a holding cell while awaiting further action.

“No, him urinating in the parking lot was not right, but at the same time, I handled it like a parent and for one officer to tell my baby to get back in the car it was OK and to have the other pull up and take him to jail. Like no,” Eason said. “I’m just speechless right now. Why would you arrest a 10-year-old kid?”

The police officers involved in the incident are currently facing disciplinary action, and Eason has revealed that she will seek legal recourse.

by Cedric 'BIG CED' Thornton

September 7, 2023

‘Real Sports With Bryant Gumbel’ Will End After 29 Seasons

After 28 seasons on the air, it was just announced that HBO’s longest-running show will embark on its last season.

According to Variety, the newsmagazine started and hosted by Bryant Gumbel, Real Sports will end its run after season 29.

“Since day one at Real Sports, we’ve consistently tried to look beyond the scoreboard and focus instead on the many societal issues inherent in the world of sports,” Gumbel said in a written statement. “In the process, we’ve had the opportunity to tell complex stories about race, gender, class, opportunity, and so much more. Being able to do so at HBO for almost 3 decades has been very gratifying. I’m proud of the imprint we’ve made, so I’m ready to turn the page. Although goodbyes are never easy, I’ve decided that now’s the time to move on.”

The decision to end the series comes the same year that Gumbel received the Sports Emmys Lifetime Achievement Award, as reported by Deadline. Along with that accolade, Real Sports has won 37 sports Emmys and three Peabody awards.

“For 29 seasons, Real Sports With Bryant Gumbel has delivered a masterclass in sports storytelling, garnering 37 Sports Emmy Awards and 3 Peabody awards in the process,” said Casey Bloys, chairman and CEO of HBO and Max Content. “As the longest-running HBO series, Bryant and his ‘Real Sports’ team have long been a cornerstone of HBO programming. The series will continue to resonate in the realm of sports journalism, and we are so proud to have been part of such a remarkable odyssey.”

Gumbel was a co-host of NBC’s NFL pregame show GrandStand from 1975 to 1982 before becoming a co-host of NBC’s Today. He stayed with the popular morning TV show for 15 years, from 1982 to 1997. He eventually moved over to CBS to co-host The Early Show.

Gumbel first launched Real Sports in 1995, and the show has aired over 300 episodes—no word on when the last episode will air.

by Derek Major

September 7, 2023

Phildelphia 76ers Discussed James Harden Trade With Knicks And Clippers, But Are Stuck With Him

The Philadelphia 76ers have had a rocky offseason dominated by trade rumors surrounding point guard James Harden, who requested a trade in June and called Sixers owner Daryl Morey a liar during a trip to China in August.

ESPN’s Ramona Shelburne reports that since Harden’s harsh words for Morey, for which Harden received a $100,000 fine from the NBA, the Sixers have stepped up efforts to trade the three-time scoring champion.

The Sixers locked in on the Los Angeles Clippers and New York Knicks in their attempt to trade Harden.

“(After the China outburst), Morey left Harden alone,” Shelburne wrote. “He said he would make a good faith effort to trade Harden and had initial conversations, league sources said, with Harden’s preferred team, the Clippers, as well as the New York Knicks.”

According to Shelburne, however, neither the Knicks nor Clippers were willing to meet Morey’s trade demands for Harden, so he remains in Philadelphia with less than two months to go before the start of the 2023-’24 NBA season.

Morey and Harden once had a strong working relationship, but money got in the way like many failed partnerships.

Morey, who was the general manager of the Houston Rockets from 2007 to 2020, brought Harden to Houston in 2012 from Oklahoma City. When Morey became president of basketball operations for the Sixers in 2020, he again traded for Harden, believing the move would revive his career.

Harden came to Philly thinking he would be compensated the same way he was in Houston. After his first season with the Sixers, Harden declined a player option and took $14 million less so the team could sign forward P.J. Tucker.

The move was sold to Harden as a sacrifice to improve the team, and Harden knew the Sixers were still evaluating him after the mid-season trade that brought him to Philadelphia.

With championship aspirations in 2022, Harden and the Sixers had a tough but solid season. He didn’t make the all-star team, breaking a 10-year streak. He took issue with it and ignored requests to be an injury replacement until it was too late, and Toronto Raptors Forward Pascal Siakim was named to the team instead. Additionally, Harden and Sixers Head Coach Doc Rivers bumped heads several times.

The Sixers were knocked out of the second round of the playoffs by the Boston Celtics, and Rivers was fired in May. Early in the offseason, Morey said signing Harden was the team’s top priority. Harden was eligible for a four-year, $210 million contract provided he declined his $35.6 million player option and became a free agent.

However, the Sixers were slow to offer him any deal, and Harden had little leverage as a potential return to the Houston Rockets broke down after they hired former Celtics Coach Ime Udoka. So, instead of waiting for Morey to offer him a deal, Harden signed the player option and requested a trade.

Three months later, the Sixers are still looking for a trade partner, and Harden is still looking to leave Philadelphia, and it’s anyone’s guess how the story will end.

by Jaimee Ratliff

September 7, 2023

Brandon Phillips And Jade Cargill Reflect On Being Black Co-Owners Of A Professional Sports Franchise

Less than a year ago, Brandon Phillips and Jade Cargill began their journey as co-owners and decision-makers for the Austin-based professional softball franchise, Texas Smoke. Under their ownership, the team secured the Women’s Professional Fastpitch softball championship in its first season.

Now, Phillips and Cargill are reflecting on what it means to be one of the very few Black owners of sports franchises in history—and what it means to do it together. “How many people can really say that I was co-owner with my queen?” Phillips said. “And we won a championship.” According to NBCDFW, the couple have their own storied careers in sports to thank for their passion to change the landscape of ownership across leagues. Phillips was a World Series champion, All-Star, and Gold Glove winner during his 17-year MLB career, while Cargill played Division I college basketball for Jacksonville and is now a premiere performer for All Elite Wrestling, where she’s already notched a championship.

Across major league sports, only basketball icon Michael Jordan was considered a majority owner in 2023 before he sold his stake in the Charlotte Hornets in August.

Though the NBA, MLB, and NFL are filled with Black talent, the decision-makers and power players are not representative of a diverse landscape. By and large, sports ownership is white and male. Minority stakes in sports teams by former athletes and Black entertainers have risen over the last decade; however, Phillips and Cargill have turned over a new and exciting leaf by venturing outside the more popular sports leagues to attain more ownership and control. “That’s a statement by itself and can be a signal to other potential Black owners — that they don’t have to have an ownership in an NBA team or an NFL team,” said Richard Lapchick, director of the Institute for Diversity and Ethics in Sport. “They can get ownership in a different sport where the buy-in is going to be something I can afford, yet I can still have an impact.”

For Phillips and Cargill, it’s all about representation and showing the next generation what’s possible. “In the new generation, just people that look like us in general, they’ll be like, ‘Oh my God, it’s been done before,’” Phillips said. “I mean, (President Barack) Obama — nobody thought there’d be a Black president. But guess what? It happens.”

by Sharelle B. McNair

September 7, 2023

Black While Eating: Black Truckers Racially Profiled and Denied Service at South Dakota Denny’s

Two truck drivers are telling their story of racism they experienced at a Denny’s in South Dakota.

Damon Whitfield and his driving partner, Hector Madera, say they were denied service at the gas station restaurant in Sioux Falls based on their race, KKTV reports. On Aug. 13, the two truckers stopped for a quick bite to eat and shower off Interstate 29. Whitfield says he was seated, given a menu and orange juice while he waited for Hector. He noticed while he waited his server never returned to take his order. “Then she walked away, and I didn’t hear from her. She was serving people that came in before us. People that came in after us,” Whitfield said. “She was cleaning up tables. She was just walking by us.”

Hector finally arrived and decided to try and get the server’s attention. When he alerted her that the pair was ready to order, she responded unexpectedly: “I don’t appreciate you yelling at me,” Hector says the server said. Whitfield defended his partner, saying, “He just said, excuse me. He didn’t yell.”

The employee then allegedly said, “I don’t need you people calling me over to this table.”

Things took a turn for the worse after the server yelled back, snatched the menus, and said she wouldn’t serve them and that if they didn’t leave, she would call the police. After Whitfield tried to get the attention of another server, they also asked them to leave. When the truck driver asked the server what they did wrong, she replied, “No idea.”

After the incident, both truckers reached out to Denny’s corporate offices but were ignored, according to Atlanta Black Star, until the video went viral on social media and reached company executives. “Denny’s has a zero-tolerance policy when it comes to discrimination at all Denny’s locations,” a statement read on behalf of the restaurant by Kris Garvey Graves, managing partner FINN Partners.

“We embrace diversity and foster an inclusive environment where every guest feels welcome.”