Target to Increase the Number of Black Employees By 20% Over Next 3 Years
Target has announced that it has plans to increase the representation of Black team members across the company by 20% over the next three years. It will do so by sharpening its focus on advancement, retention, and hiring.
“Inclusivity is a deeply rooted value at Target and we’ve had an ambitious diversity and inclusion strategy for many years for our guests and team. We know that having a diverse workforce and inclusive environment not only creates a stronger team but also provides the perspectives we need to create the products, services, experiences, and messages our guests expect,” said Melissa Kremer, chief human resources officer in a statement.
“The next step in this journey is being even more transparent with our progress by sharing a deeper look into the racial and gender diversity of our team, listening to our team’s feedback along the way, and using this information to drive a number of new commitments for our team.”
Target has also announced its commitment to social justice and racial equity and is launching a Racial Equity Action and Change (REACH) committee. The team of senior leaders from across Target represents a diverse range of executives who have perspectives and expertise that will help guide the retailer’s efforts to engage in the fight to end systemic racism in the United States.
“The changes we’re making are going to have a meaningful impact on the careers of our Black team members and prospective team members,” said Kiera Fernandez, vice president, Human Resources and chief diversity and inclusion officer.
“A diverse and inclusive team at Target is one where there’s equity in how we promote, retain, and hire team members. Additional leadership development, training programs, and mentorship for our Black team members, along with a focus in areas of the business where our Black representation is not as strong, will offer new career development opportunities for our team for years to come. And we know the support we have for our team helps extend our reach outside our walls, creating a ripple effect that impacts our guests and communities.”
This Mother-Daughter Duo Came Together To Start Their Own Cosmetics Brand
For many entrepreneurs, it is important to teach their children important lessons that they will be able to use one day in creating businesses to secure financial independence. For one Black woman entrepreneur, creating a new business was one way to create new opportunities for her daughter through their shared love of cosmetics.
Danielle and Samiah Pasha are the founders of The Beat House Cosmetics company that opened on Juneteenth earlier this year. The beauty brand offers an assorted collection of color eye shadow palettes, lipsticks, false eyelashes, and more. While Danielle serves as the brainchild and founder of the company, she enlisted the help of her 14-year-old daughter, Samiah, to work as the interim CEO while she was deployed in Afghanistan for three years.
“I am so blown away by all of the positive feedback I have received from everyone, it’s so surreal,” says Danielle in an interview with Black News. “I remember Facetiming my daughter, giving her instructions and tasks to help me out with the business in my absence and now we are partners!”
Samiah says while the job was hard, she was happy to have a chance to work with her mother, who also has a love for makeup, on her brand. “Most teenagers are irritated by their parents and wouldn’t dare want to work with them—I’m still irritated at times,” says Samiah in an interview with Black News. “But I remember missing my mom and not knowing when I would see her again, so I enjoy every second we get to spend together. Besides, I absolutely love makeup.”
A Simple Way to Increase Your Income and Build Wealth in the Stock Market
Many high-achieving professionals and entrepreneurs accumulate over $1 million in lifetime earnings before they reach 40. Unfortunately, those earnings do not automatically translate into a higher net worth within the African American community.
According to “The Road to Zero Wealth“ report published by Prosperity Now and the Institute for Policy Studies, the median wealth of Black Americans will fall to zero by 2053 if current trends continue. One way to reverse that net worth trend is to move from everyday consumer to strategic investing in the stock market.
There are multiple ways to invest in the stock market, but if you’re looking to earn an extra stream of income, you should harness the power of dividends. In my book, Dividends Are a Queen’s Best Friend, I describe dividends as the “money that a company gives you as a reward for investing in them.” It’s typically much better than the rewards you get for shopping at some of your favorite stores. Not only do you get “rewards points” when you purchase dividend-paying stocks, but you can gain a piece of ownership in the company.
Dividends are a great way to generate passive income in the stock market and start earning an extra stream of income from the world’s top companies. You can reinvest your earnings and gain access to more dividend income in the future due to the power of compounding. If you’re strategic, consistent, and committed to learning as much as you can, you can create a dividend portfolio that allows you to fund your future lifestyle and pay your bills every month!
Are you ready to get started on your dividend journey? Here are three things you should consider as you seek to build an extra stream of income from your investments.
1.) Stock dividends don’t discriminate
Many asset-building strategies have come with decades of discrimination that have made it more difficult for African Americans to generate wealth. This isn’t the case with dividends. It doesn’t matter if you are Black or White, you can get access to dividends as long as you invest in dividend-paying assets. No credit check is required and you don’t need thousands of dollars to start your dividend journey. The amount of dividend income you can make is based on your participation in the stock market. If you want to increase your dividend income, all you have to do is buy more shares of a company stock.
2.) You can get an automatic pay raise
Before investing in any company, it’s important to do your research and due diligence. You want to make sure that the companies you invest in align with the goals you have. If you have a goal of expanding your dividend portfolio every year without being heavily involved in the process, you might want to look into dividend growth companies. These are companies that increase their annual dividend amount frequently.
Let’s say you have 1,000 shares of a stock and a company pays an annual dividend of $4 per share. You would earn $4,000 in dividend income. Next year, the company increases the annual dividend to $4.25 per share. You would earn $4,250 in dividend income without lifting a finger. That means you just earned an automatic pay raise in your account! If you’re interested in dividend growth companies, you can start by researching companies that have paid dividends for over 10, 25, and even 50 consecutive years.
3.) Dividends come with special tax benefits
While many are solely looking at income opportunities to build wealth, you can’t neglect the impact managing your expenses can have on your wealth building goals. Taxes are the single largest expense most people have. If you can allocate your money in a way that allows you to reduce your tax bill, you can achieve your wealth building goals at a faster rate.
Did you know that you can pay less taxes for dividend income than earned income from salaries and wages? The U.S. tax system rewards investors with special tax incentives that are not available to those who only have one source of income from a job. Depending on the type of dividends you have and how long you’ve had them in your portfolio, you are eligible for reduced tax rates. Speak to your CPA or tax adviser about long-term capital gains rates and how you can structure your dividend portfolio to reduce your tax liability.
If you want to start your wealth-building journey in a stress-free way, dividend investing is a simple way to get started. Plan your future success right now and prepare to earn an extra stream of income for a lifetime.
Celebrity Therapist Jeff Rocker On Black Men Dealing With Anxiety And Depression Amid COVID-19
For Mental Health Awareness week, BLACK ENTERPRISE is interviewing numerous individuals within the wellness community to talk about the racial disparities that affect the Black community in the hopes of creating a safe place to talk about mental health.
According to the U.S. Department Office of Minority Health, suicide became the second-leading cause of death for African Americans between the ages of 15-24 in 2017. In the same year, data showed that the rate for African American men who died by suicide was four times greater than African American women.
Celebrity therapist and licensed mental health counselor Jeff Rocker sees the effects it has on his clients and has created a platform for black men to talk about the mental health issues they may be facing.
In an interview with BLACK ENTERPRISE, Rocker discusses the stigma around discussions about mental health among black men and how the COVID-19 has contributed to increasing the number of people who say they are suffering mental health issues due to the fallout from the health crisis.
What has the COVID-19 pandemic contributed to mental health ailments amongst Black men?
The coronavirus disease has adversely affected the mental health of Black men in a myriad of ways. 2020 has brought a lot of frustration to many Black men that have heightened their anxiety to new levels to the point where they find themselves constantly worrying about the safety of their families, financial stability, and reevaluating their short term and long goals.
Sadly enough, research reveals that 44% of African Americans have experienced pay cuts or job loss. In comparison, 73% lacked emergency financial reserves to cater to their three-month expenses due to the epidemic. As you can see, the significant decrease in household income imposes a substantial financial burden on Black men as they try to provide for their families.
To make matters worse, African Americans have recorded the highest COVID-19 hospitalizations and death rates. This devastating situation attributes to increased chronic health conditions, poverty, and racial discrimination that endanger their well-being. In other words, “It’s tough being a Black man in today’s society, but they don’t have to deal with their issues on their own.”
What are some of the things keeping Black men from seeking out help?
Black men refrain from pursuing professional help due to various reasons such as finding therapists who are knowledgeable about Black culture, false representations, or hostile generalizations of therapy, fear of being judged, and being misdiagnosed.
For example, some mental health professionals have developed biased and negative perceptions, which influence them to misdiagnose Black men with mental illnesses such as schizophrenia, while diagnosing White males with similar symptoms as experiencing mild mood disorders. Culturally unskilled therapists discourage Black men from enrolling in counseling sessions due to fear that clinicians may incorrectly diagnose them with mental illness that they do not have in reality.
Additionally, fear of judgment hampers African American males from finding help. The conventional masculinity beliefs that force men to endure challenges, as well as the fear of their families identifying them as crazy due to their mental health diagnoses, elevates their resistance to psychological assistance. The negative depiction of counseling sessions in movies or television impedes Black men from seeking help because filmmakers portray mental health patients as unpredictably violent while depicting counselors as unethical or unhelpful. Hence, these factors hinder Black men from pursuing professional assistance.
Do you think attitudes toward mental health among Black men are changing? Why or why not?
I believe that Black men’s attitude toward mental health is heading in the right direction. More African American therapists have received commendations from the public for helping their communities through innovative therapeutic approaches.
Since the death of George Floyd, mental health agencies have been forced to hire more Black therapists to deal with the vicarious trauma experienced in the Black community. There has been a huge need for Black mental health professionals for many years, and now it feels like something is being done about it. The confessions of Black celebrities such as Trevor Noah, Taraji P. Henson, and LeBron James ailing from mental disorder has encouraged African American men to change their attitude toward mental health. Unlike in the past, where African Americans viewed dialogues regarding mental health as an embarrassment, Black families have currently started discussing psychological well-being issues.
As a celebrity therapist, this is why I focus the majority of my time discussing mental health issues that are prevalent in the Black community and coping skills to overcome them. We need to continue to have these conversations amongst each other to promote mental health awareness.
It’s National Suicide Prevention Month, and recent studies have shown an increase in the number of young Black boys committing suicide. What are some factors causing these numbers to increase?
Suicide rates among Black youths continue to increase exponentially due to various reasons. First and foremost, traumatic experiences instigated by massive killings of African American men by police officers has impacted the suicide rates in young Black males.
From 1991 to 2017, incidences of suicide among Black adolescents have increased by 73% due to exposure to racial discrimination and violence, which bolsters stress and depression. Besides, the integration of masculinity and racial norms, which mandate Black men to develop emotional resilience, triggers suicidal thoughts, especially when they fail to withhold their feelings.
The lack of social relations or emotional support from peers has impacted suicide rates drastically in young Black teens. At the same time, the lack of health insurance and high treatment expenditures hampers Black families from enrolling their children in counseling sessions. Therefore, there needs to be more resources and programs in place to offset these issues that contribute to the inflating cases of suicide among Black adolescents.
New Book Shows How Much President Trump Doesn’t Care About Black Pain
A new book written by journalist Bob Woodward details President Donald Trump’s lack of empathy and interest in the livelihood of Black Americans.
For his book, titled Rage, Woodward conducted, and recorded, nearly 20 interviews with Trump over several months detailing the president’s thoughts on George Floyd’s death and resulting protests. In a phone conversation with Trump three weeks after Floyd’s death, Trump downplayed concerns Black people have about racism in America.
During the call, Woodward told the president they’re both “privileged” older white men and have to be more aware of how Black people feel. In response, Trump mocked him, saying they do not need to understand the “anger and pain” felt by Black communities.
“No…You really drank the Kool-Aid, didn’t you? Just listen to you. Wow. No, I don’t feel that at all,” Trump told Woodward.
Woodward tried to keep the conversation on race but the President began to pivot toward the economy, again claiming he “has done more for the African American community than any other president in history besides Lincoln.”
“I’ve done a tremendous amount for the Black community. And, honestly, I’m not feeling any love,” Trump said during a conversation on July 8.
In a separate conversation days later, Woodward brought up race again, however, this time Trump said systemic racism isn’t limited to just the United States.
“Well, I think there is everywhere. I think probably less here than most places. Or less here than many places,” the president told Woodward.
Trump also expressed issues with several Black leaders including Barack Obama who he referred to as “Barack Hussein.”
“I don’t think Obama’s smart. I think he’s highly overrated. And I don’t think he’s a great speaker,” Trump told Woodward, adding that North Korean leader Kim Jong Un called Obama an “a**hole” when they spoke privately.
The book also had a number of admissions made by the president regarding his response to the coronavirus pandemic.
Arizona Police Officer Suspended After Holding Black Hotel Employee at Gunpoint While Looking for White Suspect
A police officer in Tempe, Arizona, is under investigation because, while searching for a white suspect, he held a Black hotel employee at gunpoint according to AZFamily.
The police officer, Ronald Kerzaya, has been reassigned due to the incident that took place at a hotel. He stopped and had a gun pointed at the Black hotel worker who was wearing a light gray shirt and black pants, telling him he matched the description of a reported gunman. But, the reported suspect had been described as white, with a black shirt and tan pants.
Based on a news release from the Tempe Police Department, Officer Kerzaya had gone to the Hawthorn Suites hotel near Loop 101 and Southern Avenue last month on Aug. 29 on a call reporting that there was a man there with a gun. The manager of the hotel told Kerzaya the suspect was a white man wearing a black T-shirt and tan pants. The manager stated that the suspect left out of the west side of the building.
As Kerzaya went to the west side of the building, he encountered a Black employee wearing a light gray shirt and black pants as he was exiting the building and the Black man identified himself as an employee. Kerzaya then held the man at gunpoint “until he could confirm that he was an employee of the hotel.”
The body camera footage released by the Tempe Police Department shows Kerzaya holding the man at gunpoint for three minutes while confirming with dispatch that the man was an employee at the hotel. Kerzaya is heard telling the Black employee, “I am responding to somebody with a firearm who matches your description,” although Kerzaya had just confirmed with the hotel manager two minutes before encountering the Black employee that the suspect with the gun was a white man.
“While the matter is under investigation and we will await the outcome of that examination, from our early review of the body camera footage, the Officer’s actions were not a demonstration of the quality of service or treatment of people that Tempe seeks to, can and must provide. The fact that no one was injured is a great relief, but that does little to reduce the dissatisfaction with this incident.
“City Manager, Andrew Ching, and I have been reviewing this and other recent incidents closely as we continue to formulate the City’s plans to address these challenges. In this instance, I have spoken several times to the hotel manager and the employee who was wrongly identified as the suspect who prompted the original call for service. We all can imagine the horrible feelings—the humiliation and fear—that the employee felt during the incident and since.”
Kerzaya is currently under investigation by the Tempe Police Department and has been placed in an administrative role.
NCAA Study Shows Affluent White Student-Athletes Are Profiting From Their Poor Black Peers
An NCAA study on the economics of college sports has found affluent white students are profiting off the labor of poor Black students.
The study was conducted by the National Bureau of Economic Research and published Aug. 31. It analyzed revenue data for all 65 athletic departments in the Power Five conferences, home to the NCAA’s top Division I men’s football and basketball programs, from 2006 to 2019. The researchers also used data from student rosters across all sports in those departments in 2018, including data on the players’ ethnicity and hometowns.
The study found the money generated by NCAA football and basketball programs, of which the majority of players are Black Americans, pays for the salaries of coaches and administrators, is used to upgrade facilities the teams use, and finances non-revenue sports played mostly by affluent white student-athletes.
Craig Garthwaite, the lead author of the study, told CNN, the amount of money in college sports has increased significantly. In 2019 alone, the NCAA generated $867.53 million in revenue from its television and marketing rights fees alone.
“In any other setting, your key input as a business would receive wages that look like the benefit that they provide to the business,” he said. “But here the players are artificially constrained from being able to do that.”
The data collected also showed significant disparities between Black and white student-athletes, socioeconomic status, spending on coaches salaries, and spending on collegiate facilities.
“We took every player, in every sport, not just the revenue sports, and tracked them back to their high school and calculated the average family income for students that went to that high school,” Garthwaite said. “So we can actually show that it’s not just the sports that lose money and that survive because football and basketball provide them with extra funds, it’s not just that the students are more likely to be white, but they tend to come from richer families, they’ve gone to high schools where the average family income is higher.”
The average salary of Power Five coaching staff at NCAA public universality grew between 2008 and 2018 from $4.8 million to $9.8 million, according to the data. They’re also not the only staff with more money in their pocket than before. Coaches for all other sports at Power 5 schools have also seen an increase from $7.3 to $12.5 million over the same time period.
The study also found less than 7% of the revenue generated by college sports goes to cover athletes in the form of college scholarships, stipends for living expenses, and food.
Last September, state lawmakers in California began to chip away at the NCAA and its student-athlete stance. California Gov. Gavin Newsom signed a bill allowing college athletes in the state to earn endorsement and sponsorship money.
The NCAA said in April it supports allowing student-athletes to profit from their name, image, and likeness, so long as the college or university they attend does not pay them directly. However, many lawmakers believe the NCAA is moving too late and enacting law will force them to move faster or be subjected to law.
Osaka was shown a video from Arbery’s father and Martin’s mother, thanking her for the recognition of their children by her wearing face masks bearing their names. It was an emotional moment for the tennis professional.
Sybrina Fulton, Martin’s mother, expressed her gratitude to Osaka for her fight for social justice.
“I just want to say thank you to Naomi Osaka for representing Trayvon Martin on your customized mask and also for Ahmaud Arbery and Breonna Taylor,” Fulton said. “We thank you from the bottom of our hearts. Continue to do well. Continue to kick butt at the U.S. Open. Thank you.”
Marcus Arbery Sr., Arbery’s father, also thanked Osaka.
“Naomi, I just want to tell you thank you for the support of my family,” Arbery Sr. said. “God bless you for what you’re doing and you’re supporting our family with my son. My family really, really appreciates that.”
Osaka was asked about the words the parents of the racial profiling victims expressed to her.
“I feel like they’re so strong. I’m not sure what I would be able to do if I was in their position,” Osaka said. “I feel like I’m a vessel at this point in order to spread awareness. It’s not going to dull the pain, but hopefully I can help with anything that they need.”
“I feel like I’m a vessel at this point in order to spread awareness.”
Trayvon Martin’s mother and Ahmaud Arbery’s father thanked Naomi Osaka for representing their sons on the masks she’s been wearing throughout the US Open. pic.twitter.com/0IHBU7pvx4
This Oakland Takeout Spot Also Serves As A Food Hub For Black-Owned Pop-Up Shops
In light of COVID-19, or the novel coronavirus, pandemic, many restaurants around the country have had to learn new ways to adapt to the new reality of social distancing and suffering from lost revenue from mandatory quarantine closures for indoor dining. Now, one Black chef is looking to give back to his hometown of Oakland by creating a hub to help other local Black-owned food businesses.
Food Network Chopped winner Rashad Armstead is the founder of the Black Food Collective, a hub to support local Black-owned restaurants in the East Oakland, California, area as a way to help struggling food entrepreneurs amid the public health crisis. The takeout spot has now transformed into a rotating pop-up space where people in the community can support local vendors.
“I don’t have an opportunity to go back to a job and get back to a normal routine,” he said according to MSN. “I have to do something that will pay off long-term because I’m at risk of my entire life going down the drain.” Armstead talks about dealing with several family members testing positive for the coronavirus in addition to losing most of his catering work he depended on. The ordeal caused him to rethink how he serves food to people with new safety measures in mind.
“I don’t want to be responsible for anybody getting sick or having to experience what I saw my baby brother go through,” he explained. After seeing others in the community face similar struggles, Armstead used the space as a way for the community to come together to support one another.
“We can keep speaking, we can keep marching, we can keep protesting, but until we control the way our dollar circulates in our community, no one is going to listen to us,” he added. “I’m going to show on a small scale what can happen when Black food businesses work together.”
