Tiffany Haddish Joins America’s First Black-Owned Digital Bank’s Virtual Financial Conference on Juneteenth
OneUnited Bank announced that it will be hosting a OneTransaction Conference, from 1-6 p.m. on June 19, 2021.
According to a press release, the free virtual financial conference, which is co-sponsored by Visa and Fidelity Investments® will focus on closing the racial wealth gap. A lineup on the event page listed sessions that include information about owning a profitable business, fixing the racial wealth gap, saving/investing, homeownership, life insurance, wills, and other topics. Additionally, the press release indicated that presenters include Tiffany Haddish, Daymond John, and other personal finance experts who will participate on Juneteenth.
Over 20,000 have already registered for the online conference which is scheduled to address six core transactions related to closing the racial wealth gap. According to One United Bank’s website, OneUnited Bank is the first Black-owned digital bank. It is also the largest Black-owned bank in the U.S. The financial institution aspires to ‘empower our community and close the racial wealth gap.’
In a Forbes article, Teri Williams, president and COO of OneUnited Bank said that OneTransaction’s Conference message is tied to provide education. Selecting one of the six outlined transactions in 2021 to build wealth is was a critical takeaway in the interview.
Kevin Cohee—the chairman and CEO of the bank—added additional points about the virtual conference.
“We designed this event to provide financial information on building net worth in plain language, so it’s easily understood by everyone in attendance,” Cohee said to Forbes. “We then use digital banking technology to motivate participants to continue the process until they complete their one transaction.”
Forbes further explained that OneUnited Bank has used technology as a tool to support the pursuit of achieving racial and economic justice on behalf of African Americans.
Please visit this link to secure a ticket for the online June 19 event. Space is limited.
Family Left Heartbroken Over Cashier Killed After Telling Customer to Wear A Mask
The family of 41-year-old Laquitta Willis is speaking out and expressing their grief over her senseless death on Monday.
Willis was working her shift at the Big Bear Supermarket in DeKalb County Atlanta when customer Victor Lee Tucker came in without a face mask, CBS46reports. After telling the customer that he needed a mask to enter the store, Tucker left the store, came back with a gun, and shot Willis in her head.
Her family has been left heartbroken over Willis’ death and described her as a loving person who took care of everyone.
“Just loving, funny, she was quiet at times but once you got to know her, just an amazing person,” Alexis Breland said of her sister. “A dependable person, you always have in your corner. She loved people”
Tucker was hospitalized following a shootout with an off-duty deputy cop who was working a security shift at the store shot him. The officer was also wounded in the shooting but is expected to survive. Another cashier was grazed by a bullet during the violence.
“This person meant so much to so many people and this was a senseless death.” Breland continued, “So whatever is deemed justice for his actions– I think everything should be thrown at him.”
A GoFundMe was set up to help with Willis’s funeral costs. The United Food and Commercial Workers (UFCW) have since released a statement in response to the murder raising awareness around the dangers essential workers face during the pandemic.
“For too long, many of our leaders have failed to consider how the changing COVID guidelines affect America’s essential workers who face daily exposure to individuals who are not vaccinated and refuse to wear masks. When workers are forced to play mask and vaccination police, they put their lives at risk. This has now resulted in the heartbreaking murder of an innocent grocery store cashier who was simply doing her job.”
“Our country must do more to acknowledge the real and present dangers these workers continue to face on the front lines of the pandemic. As the union for essential food and retail workers, the UFCW is calling on leaders to address the safety threats and concerns of essential workers and act promptly to ensure that these workers and the communities they serve will be protected.”
Tucker is facing murder and aggravated assault charges, court records show. In past cases, he has previously pleaded guilty to charges including battery, cruelty to children and illegally carrying a concealed weapon, Heavyreports.
Businesses Begin To Fret As Canada Extends Non-Essential Travel Ban Through July 21
Reuters – Canada is extending a ban on non-essential travel with the United States and the rest of the world until July 21, Public Safety Minister Bill Blair said on Friday, prompting frustration from businesses worried about the economic damage.
Canada’s Liberal government is under increasing pressure from businesses and the tourism industry to ease the ban, which was first imposed in March 2020 to help contain spread of the coronavirus and has been renewed on a monthly basis ever since.
“In coordination with the U.S., we are extending restrictions on non-essential international travel and with the United States until July 21st, 2021,” Blair said on Twitter.
Ottawa will reveal on June 21 how it plans to start lifting the measures for fully vaccinated Canadians and others who are currently permitted to enter Canada, he added.
Although the ban does not affect trade in goods, it is hitting travel operators and the export of services.
The Canadian Chamber of Commerce – a national group that advocates for businesses – lamented what it said was Ottawa’s sluggishness, especially as around 75% of Canada’s population had already had at least one dose of a coronavirus vaccine.
“I’m disappointed … all of the science would say we should be moving ahead to reopen the border. We don’t even have a plan at this point,” said Perrin Beatty, the group’s president and chief executive.
“Unfortunately, Canada is the proverbial deer caught in the headlights … we are the world leader in terms of first shots and we are a world laggard when it comes to having a strategy,” he said in a phone interview.
The United States is Canada’s largest trading partner.
Health Minister Patty Hajdu last week said the federal government was preparing to lift quarantine protocols for citizens who had received their second dose of a vaccine.
The U.S. government has created working groups with both Mexico and Canada to discuss the restrictions. The groups held their initial meetings this week, sources told Reuters.
(Additional reporting by David Shepardson in Washington; Editing by Bill Berkrot and Paul Simao)
Does Mariah Carey Think Eminem Is Still ‘Obsessed’ With Her 12 Years After Her Classic Song?
On June 16, 2009, Mariah Carey debuted her classic hit “Obsessed” from Memoirs of an Imperfect Angel, a song that mocked a then-newly sober Eminem for being, as the title suggests, obsessed.
Twelve years later, Carey decided to make a “Wipe It Down” TikTok challenge – where one cleans their glass window, a new reflection appears after every swipe– cosplaying as Eminem in her Obsessed video music. It seems to suggest that maybe the acclaimed rapper is still obsessed with Mimi.
“Just for laughs… from last year’s lockdown when all I did was wipe tings down 🧽😂 #HappyAnniversaryObsessed,” Carey wrote in the caption, sporting a green face mask and pink robe.
The beef between Carey and Eminem, whose real name is Marshall Mathers, started in the early 2000s where rumors perpetuated by Slim Shady indicated they were a celebrity item while performing Ass Like That. Carey has denied the rumors, dismissing Eminem.
In the Obsessed music video, Carey dressed up as Eminem, caricaturing his baggy sweats, goatee, heavy five o’clock shadow, bandana, hat, and hoodie. Eminem is seen following Carey in public and cuts away to his bedroom shows that he bought loads of Carey’s merchandise, including bed sheets and posters.
The rapper retaliated with a Dr. Dre-produced diss track after a month or so, called “The Warning,” implying that he had embarrassing sex with Carey and her then-partner Nick Cannon was a failed replacement.
Carey has been relatively quiet about the situation, with Cannon and Eminem exchanging diss tracks back and forth for nearly a decade.
In December 2019, Eminem was featured, alongside Mary J. Blige, on a Fat Joe song called Lord Above, where he dissed Carey and her ex-husband Cannon. Cannon return fire with multiple diss tracks with some of his Wild ‘N Out crew members called “The Invitation” and “Pray For Him.”
Fifth Third Bank Invests $2.5 Million In Detroit-based First Independence Bank
Fifth Third Community Development Corp., has announced it will invest an additional $2.5 million in the Detroit-based First Independence Bank.
The investment will make Fifth Third Bank First Independence’s largest investor at a total of $5.5 million in the minority depository institution (MDI) and community development financial institution (CDFIs).
CDFIs were lifelines for small minority businesses during the pandemic as large banks ignored their smaller clients during the first round of the Paycheck Protection Program. President Joe Biden ensured minority-owned small businesses could get the funds they needed by giving businesses with less than 20 employees an exclusive two-week window to apply for PPP funding.
Kala Gibson, Fifth Third Bank’s head of business banking and chief enterprise responsibility officer, said in a statement that CDFIs are paramount to creating and ensuring wealth and a sense of ownership in minority communities.
“CDFIs are critical to creating and preserving wealth in minority communities,” said Kala Gibson, Fifth Third Bank’s head of business banking and chief enterprise responsibility officer. “It is imperative that larger financial services institutions support these organizations to ensure their viability and longevity.”
The investment by Fifth Third follows a $3 million investment the bank made in First Independence Bank in 2008. Fifth Third will also support First Independence through loan participation and financial literacy courses for First Independence customers.
“This deal has the potential to create income-producing assets up to 10 times the amount of the investment, which means Fifth Third’s investment could result in the origination of more than $50 million in new loans for both existing and new, consumer and business relationships,” Keith Burgess, senior vice president and group head of Community Development Lending and Investments said in a statement. “First Independence Bank could use the proceeds to invest in personnel, technology and physical assets which will provide a better banking experience for its customers.”
Last year Fifth Third made a $2 billion commitment to Black homeownership and small businesses as part of its racial equity pledge.
Black Man Offered $350,000 Settlement After Being Violently Slammed by White Cop
Last summer, a Black man who was slammed to the ground in a case of mistaken identity sued the Valdosta, Georgia, police department for the incident that was caught on police body cam.
According to The Associated Press, the man, Antonio Arnelo Smith, has been offered a $350,000 legal settlement by officials of the Georgia city where the violent encounter took place. Along with the proposed settlement offer approved Thursday by the Valdosta City Council, they have also agreed to create a citizen review board to help oversee local police and make policy recommendations.
The confrontation caught on police bodycam video shows a Black police officer talking to the victim, Smith, as he responds to the officer’s questions after handing over his driver’s license. A white police officer is seen coming up behind Smith and in an unprovoked move, the body camera reportedly shows the cop aggressively grabbing Smith from behind. He then viciously slams him face-first onto the ground, breaking his wrist in the process.
“Oh my God, you broke my wrist!” the 46-year-old Smith yells out as two more white police officers join in and handcuff him. As he is lying on the ground, the Black officer tells them that the man they were initially looking for on an outstanding warrant was just picked up down the street.
Nathaniel Haugabrook, who is one of Smith’s attorneys, stated Friday that he was still looking over the proposal.
“I imagine at this point it will move at lightning speed, in terms of a resolution,” said Haugabrook, who also added that Smith ”wants to see all of this behind him.”
Smith’s attorney also said that the creation of a citizen panel to help oversee the Valdosta Police Department had been his client’s top priority in the lawsuit he filed. In a letter to city officials seeking a settlement before the lawsuit was filed, Smith’s attorneys had also asked for $700,000.
Nissan Strengthens Its Commitment To Diversity With Promotion Of Keri Floyd Kelly
The Nissan Motor Co. has announced the promotion of Keri Floyd Kelly to director of Diversity, Equity and Inclusion for its North American branch.
Kelly will be responsible for developing diversity and inclusion strategies to integrate into the automaker’s business practices, directing the Executive and Advisory Diversity Councils, and cultivating sustained relationships with civic and community leaders and organizations.
Jeremie Papin, the senior vice president and chairperson for Nissan Motor Co., Ltd. said Kelly’s experience and knowledge have been a huge asset for Nissan.
“Kelly’s experience and leadership make her the right person for this very important position,” Papin said in a release. “With Kelly’s expertise, we will continue to strengthen our commitment to diversity and inclusion in all aspects of Nissan’s business and meaningfully advance our culture.
The Tennessee State University and Vanderbilt University graduate has spent more than 20 years at Nissan working in finance, diversity, talent management, purchasing, and other positions. Additionally, Kelly also has experience in the defense industry.
Kelly said in a statement she’s excited to continue her career at Nissan and to be part of a team dedicated to fairness and equality.
“I live by the mantras of ‘Do what is right,’ and ‘Be boldly you,’” Kelly said in a statement. “I’m stepping into this critical role at a critical time in society. I am enthusiastic to continue the DEI initiatives of Nissan and to be a part of a team that inspires and influences lasting change, respect and appreciation for our differences.”
Kelly received a bachelor’s in business administration and accounting from Tennessee State and a Master’s in Business Administration from Vanderbilt. Kelly also serves as a member on the board of directors of Youth About Business and has spent the last six years as the chair of the Tennessee State University College of Business Alumni Board.
Meet the 94th Black Woman to Have Raised $1M in Venture Capital For Her Startup
Janice Omadeke, founder and CEO of an Austin, Texas-based tech startup called The Mentor Method, has raised $1.4 million in seed funding to galvanize workplace inclusion and equity by reshaping mentorship experiences in support of diverse, rising talent. As of December 2020, only 93 other Black women have raised $1 million or more in venture capital.
Every company committing to social justice needs to include mentorship as a part of their action plan. Mentorship is a proven way to propel workplace inclusion and equity, but the process of finding a high-quality mentor has historically been inequitable. Most people want a mentor, but fewer than 40 percent of people find one. Companies often find attrition rates higher among diverse talent, and turn to The Mentor Method for an affordable, easy-to-implement, scalable solution that enables diverse talent to connect, share valuable career lessons, and have support with navigating career challenges so that they are more likely to succeed, stay, and develop into empowered leaders.
The Mentor Method, whose current clients include Deloitte and the U.S. Department of Education, has a patent-pending algorithm that removes the bias in the mentorship process, leverages potential compatibility to find matches, and then features a customizable framework focused on professional development and relationship building between matches. It helps identify and sustain meaningful mentor-mentee relationships.
“What really sets us apart is our focus on sustainable relationships, because like any other important relationship, whether it be friendship, romantic or professional, you need to have a connection between both people to really learn from each other, get something out of it, and to maintain that level of engagement,” explained Janice. “Our algorithm includes the chemistry component as well as making sure that people are learning from industry leaders within their place of employment.”
“Draper Associates is proud to announce a new investment into The Mentor Method. Led by extraordinary Founder Janice Omadeke, The Mentor Method technology and methodology change corporate life, allowing the more experienced employees to bring the novices up to speed,” said Venture Capitalist Tim Draper. “We believe The Mentor Method will allow for a more engaging, supportive environment for employees everywhere.”
In addition to Draper Associates, other investors in The Mentor Method include Alumni Ventures Group, Chris Pacitti from Elsewhere Partners, MATH Venture Partners, Sorenson Impact Fund, and Backstage Capital.
“Any person who finds themselves in the right mentor-mentee pair knows how deeply personal and impactful that one-to-one relationship is and what kinds of doors can be opened through the relationship,” Chris Pacitti said. “The way that The Mentor Method is uniquely leveraging technology to support businesses with increasing workplace equity by finding and sustaining the right pairs is unprecedented, and Elsewhere Partners is excited to work alongside Janice Omadeke and her team to create transformational change at scale.”
Janice, whose parents immigrated to Washington D.C. from the Democratic Republic of the Congo as a child, watched as her dad completed a mentorship program that inevitably enabled him to get security clearance and get a job in the private sector, impacting the trajectory of life for her whole family. She saw firsthand how a great mentorship experience for the betterment of that person’s career, like her parents, can actually open doors and change life’s trajectory for an entire family or community. This new funding enables that personal change to happen at scale in diverse communities and businesses.
“This seed funding will enable The Mentor Method to be utilized by more businesses to scale equitable change, impacting the company, the people, their families, and communities,” explains Janice. “I am very thankful to have found such incredible investors who believe in and support both The Mentor Method and the diverse talent who benefit from our service.”
Janice is a 2020 Austin Under 40 nominee and winner of DivInc’s Champion of Change Diversity Champion of the Year for the city of Austin. Black Enterprise recognizes Omadeke as one of DC’s top 5 Black women in tech. She is certified in Entrepreneurship from MIT and is PMP certified with over 10 years of corporate leadership experience for Fortune 500 companies.
About The Mentor Method:
The Mentor Method aims to democratize career opportunities and empower career development by leveraging their unique curriculum and SaaS solution. The organization’s software, powered by a patent-pending algorithm, helps forward-thinking companies affordably match diverse talent to mentors within their organization, so diverse talent is more likely to succeed, stay, and grow in their career. The Mentor Method is a member of the Google for Startups program, was a finalist at the Grace Hopper annual conference in 2018, is a MassChallenge Texas Gold winner, a 50 on Fire winner for both Austin and DC Inno, a 2017 Startup Grind Global Exhibition selection, and was a national semifinalist in Tech.co’s Startup of the Year competition in 2016. Learn more at TheMentorMethod.com.
This article was originally published by BlackNews.com.
Ford Foundation In Partnership Urging Firms To Boost Spending With Black Suppliers By $10 Billion
The wealth gap among Black and White American remains an ongoing problem in 2021. Reports have for years and continue to show a Black family has roughly 10 times less wealth than a White family. And that disparity is reportedly even rising higher during the existing economic expansion.
At the same time, some 53% of Black business owners have seen revenues fall by 50% or more since COVID-19 became a vast concern, versus just 37% of white business owners. Observers say those statistics show how forces like systemic racism and economic inequality instilled centuries ago still today hinder Black Americans from reaping greater prosperity in vital areas such as income and business growth.
But the Ford Foundation, a longtime supporter of advancing racial equality, keeps taking some bold steps to help change those scenarios. Last October, the foundation doubled its funding support for U.S.-based racial justice and civil rights groups with at least $180 million in new funding from the proceeds of the sale of $1 billion in social bonds. The fresh funding brings the the foundation’s commitment now to racial justice advocacy to an unprecedented $330 million over 2020 and 2021.
As of September 2020, the foundation has placed $99 million of $191 million in investments with diverse managers. It reports 33 out of 41 funds in the MRI (mission-related investment) portfolio are diversely owned.
Black Enterprise connected via email with Roy Swan, director of Mission Investments for the Ford Foundation, to speak on several matters. They included the Tulsa Race Massacre, barriers that remain for Black economic mobility, and the foundation’s work to name a few.
BE: What has been the ongoing impact of the Tulsa Race Massacre on halting economic growth for Black business owners nationally, including in communities like Greenwood? How is it stopping those entrepreneurs and individuals from generating wealth?
In many ways, our American economic system was specifically designed to exclude Black people — from slavery through Jim Crow, redlining, and more policies have been set in place to prohibit Black communities from generating wealth. From Tulsa, to New York, to New Orleans, there is a long history of race massacres that directly targeted the safety, businesses, and livelihoods of Black people and families. The legacy of these attacks lives on in the racial wealth disparities that exist today today and stretch far beyond Black Americans: a study from Citi found that racial wealth disparities have cost the entire US economy $16 trillion over the last 20 years alone.
Greenwood reportedly rose to become among America’s most flourishing Black communities less than 60 years after the Civil War ceased. It had clothing merchants, jewelry and luxury stores, restaurants, and locations for doctors and other professionals. But now much of that is gone. Given that, along with the devastating impacts of the pandemic, what needs to be done to reinvest in Black communities nationally to help them experience economic development and growth?
Corporations, philanthropies, and government at all levels need to apply a racial equity lens to their investments overall, and understand the immense opportunity and talent that exists within Black communities. It will not only provide economic development and growth for communities that have been historically overlooked, it’s better for business and the economy.
Large businesses and endowment investors should also look to diversify who manages their money. Less than 1% of the $71 trillion in assets in management in the U.S. are managed by women or people of color. Assets that are managed by Black investment managers, are more likely to be allocated to the communities that need them the most. That’s why we are proud to invest with asset managers like Fairview Capital Partners, led by Laurence Morse and JoAnn Price, and Lo Toney’s Plexo Capital, who are working to help institutional investors reach diverse and innovative segments of the private markets.
The exciting thing about all this is that helping Black communities will help the entire nation. McKinsey estimates that eliminating systemic racism can increase the national economy by $1.5 trillion. This is not a zero sum game.
What barriers remain that are preventing Black entrepreneurs now from opening new businesses or expanding existing Black-owned businesses across the country?
What is the Ford Foundation’s current strategy to spark new investment and development in Black communities nationwide when it comes to helping new Black-owned business startup, providing capital to those firms looking to expand, as well as gain other needed resources to spur such growth?
We are also proud to work in partnership with Connecticut State Treasurer Shawn Wooden to convene the Corporate Call to Action — a group of 18 of the country’s leading financial institutions who are working collectively towards racial equity. Most recently, the members have committed to increase their spending with suppliers and businesses owned by people of color, particularly Black-owned businesses, by $10 billion; to launch or scale programs that partner with and invest in Black and other historically marginalized communities; support career development and mid-career opportunities for Black professionals; and improve their internal transparency and practices to reach racial and salary parity within the financial services industry.
President Joe Biden just became the first sitting U.S. president to visit the site of Tulsa Race Massacre. His administration announced some steps to combat racial equality. They included plans to expand federal contracting with small, disadvantaged businesses, invest tens of billions of dollars in communities like Greenwood suffering from lingering poverty and pursue new efforts to combat housing discrimination. In terms of the nation’s business community, what else do you think needs be done to help Greenwood and other communities to prosper moving forward?
We all have a role to play in advancing racial equity — from government, to philanthropy, and within corporate America. The U.S. banking system has an enormously important role to play in enhancing the national economy through greater access to capital for Black people, as highlighted by Raphael Bostic, President of the Federal Reserve Bank of Atlanta, in an essay covered in a Wall Street Journal article last year. Over the past year, a number of organizations made pledges and commitments towards the future. It’s now time to turn those commitments into targeted and dedicated action.
Black Woman Founder of Hangover Recovery Drink Making History, Being Eyed By Coca-Cola
Meet Lia Lee, the founder of UNLIT™, an all-natural, vegan, hangover recovery beverage line that uses superfood ingredients to detox and restore your body. Recently, her company was selected as a semifinalist in the BevNET 2021 New Beverage Showdown, a pitch competition hosted by Venturing and Emerging Brands (VEB) – the Coca-Cola business unit that identifies and develops a portfolio of brands with billion-dollar potential.
Based in the Washington DC area, Lia, like other millennials, found herself dealing with her share of morning-after woes following her nights out. She says that she needed to find a way to rebalance herself, and she knew she wasn’t the only person who felt this way. So she created UNLIT™ as an adaptogen recovery drink that effectively helps young professionals to balance work, a social life, and everything else in between.
According to a report by RAND, a national survey found that the overall frequency of alcohol consumption increased in 2020 by 14% among adults over age 30, compared to 2019. As mask mandates continue to ease, with patrons back out and more public venues opening up their doors to full capacity, hangover remedies will be important to consider now more than ever.
About UNLIT™
UNLIT is an all-natural adaptogen recovery drink that helps you rebalance your mind, body & soul. Their four delicious beverages are blended with a ‘bio-availability’ first approach to provide the boost you need to take on the next day, and to replace essential nutrients lost after exercise, late-nights, and hangovers.
