Black Enterprise articles from August 2005

Black Enterprise archives from August 2005

35th anniversary spotlight.(WEB FEATURES)
August 1, 2005... After reading our 35th anniversary specials in this issue, visit blackenterprise.com, where we'll chronicle more than 35 years of covering black business. Also, log on for interactive features and notes from our readers congratulating BE on 35...

Franchise finder.(WEB TOOLS)
August 1, 2005... www.blackenterprise.com/wfransol Check out these franchises that are helping women succeed as business owners!

Get $30 when you invest.(WEB TOOLS)
August 1, 2005... www.sharebuilder/be30 ShareBuilder and blackenterprise.com make it easy to invest online through automatic, recurring dollar-based investments.

Resource line.(WEB COLUMNS)
August 1, 2005... Whatever your professional or entrepreneurial needs, you can find advice at blackenterprise.com. Interactive Media Editor Latif Lewis' column provides useful resources for business owners, corporate executives, and budding investors....

The world before Black Enterprise.(publisher's page)
August 1, 2005... Imagine a world where there is no job in corporate America for an African American with an M.B.A. that does not involve a mop and a bucket. A world where the possibility of life on distant planets is far less alien an idea than the prospect of...

What Black Enterprise means to our readers.(About This Issue)(Editorial)
August 1, 2005... Though she wasn't even born at the time the inaugural issue of BLACK ENTERPRISE hit the newsstands in August 1970, 28-year-old Philadelphia native Jamila Payne was deeply influenced by our publication as a child. Her father, Robert, a...

Opportunity awaits.(Letters)(Letter to the Editor)
August 1, 2005... While trying to explain what I do for a living to those who ask, I came upon your issue on America's top black designers ("Form & Function," May 2005). First, I would like to thank you for finally recognizing the field of design as an...

A second opinion.(Letters)(Letter to the Editor)
August 1, 2005... I WOULD LIKE TO RESPOND TO A LETTER PUBLISHED IN THE MAY 2005 ISSUE titled "Insured for Life?" The writer gives some very questionable advice. The primary purpose of life insurance is to help people in their estate-building years protect...

The politics of design.(Letters)(Letter to the Editor)
August 1, 2005... AS A DESIGNER, IT ALWAYS amazes me how few black designers exist when most design trends in the States spawn from black people. Honestly, I was relieved and excited when I read your May 2005 issue ("Form & Function") and saw black people making...

A few of my favorite things.(Letters)(Letter to the Editor)
August 1, 2005... MY DAUGHTERS AND I KNOW WE will never cancel BE. My favorite section is Motivation because starting a business is hard work and you need a supportive team shouting, "Live your dreams!" My next favorite section would be Powerplay because I love...

Intellectual capital.(Letters)(Letter to the Editor)
August 1, 2005... BLACK ENTERPRISE HAS SHOWN CONSIDERABLE leadership in our community by focusing its efforts on building our knowledge of wealth. But many of us still do not realize that while the income gap between us and our white counterparts has narrowed,...

Can we get some advice, too?(Letters)(Letter to the Editor)
August 1, 2005... First, let me say how much I like your magazine. It is very progressive and informative. The problem I have is with the stories concerning personal debt. They are always about people with high incomes and more credit debt than other situations....

Corrections.(Letters)(Correction Notice)
August 1, 2005... In our July 2005 cover story "30 Best Companies For Diversity," the profile of PepsiCo incorrectly indicated that total purchasing by the company was $100 billion. The correct figure is $10 billion. Because the incorrect figure was not used for...

A.G. Gaston: rough road to riches: sheer determination carried this grandson of former slaves to the top of a financial empire worth millions.(Ultimate Wealth Builders)(Biography)
August 1, 2005... As the civil rights movement swept through the South during the late 1950s, certain moments captured the bravery of those on the front lines. When Rev. Martin Luther King Jr. was arrested in Birmingham, Alabama, for marching without a permit,...

Lincoln Holdings purchase Mystics: deal makes BET co-founder Sheila Johnson part owner of three professional sports franchises.(SPORTSBIZ)(Black Entertainment Television)
August 1, 2005... Black Entertainment Television co-founder Sheila Johnson has become the first African American woman to own a stake in three professional sports teams through a partnership with Lincoln Holdings L.L.C., an organization that owns the WNBA's...

Cease-fire over federal judges: but the war for the soul of the judiciary continues.(WASHINGTON REPORT)
August 1, 2005... Despite a truce called in May, which led to the confirmation of five controversial judicial nominees, the struggle between Democrats and Republicans over the philosophical direction of the federal judiciary has not abated. The fight centers on...

Blacks jockey for political power: upcoming elections attract more African American hopefuls.(WASHINGTON REPORT)(Brief Article)
August 1, 2005... here has never been an African American representing Maryland in the U.S. Senate, but with Sen Paul Sarbanes, a 30-year veteran, stepping down in 2007, the door is now opening. And Kweisi Mfume, former NAACP president and Maryland congressman...

Life is sweeter for 'big peach' financial firm: Atlanta Life Investment managing additional $100 million of MetLife's assets.(B.E. 100s)
August 1, 2005... In a deal that could boost its clout with big pension fund investors, Atlanta Life Financial Group's asset management unit has agreed to manage another $100 million in general accounts for New York-based financial services powerhouse MetLife...

College admissions mixed bag for blacks: debate over affirmative action may affect application figures.(AROUND THE NATION)(Brief Article)
August 1, 2005... While the debate continues over affirmative action's relevance on college campuses, some top institutions across the country are fighting dwindling numbers in black student representation. Following the controversial Supreme Court decision...

McNeal buys black-owned printing co.(BUSINESS DEALS)(Haves L. McNeal, Creative Printing Services)(Brief Article)
August 1, 2005... Illinois-based Creative Printing Services became the largest African American-owned printing company in the nation in January when printing industry veteran Haves L. McNeal, 52, acquired 51% ownership. Previously a senior vice president of...

B.E. 100s co. expands.(NEWSPOINTS)(Integrated Packaging Corp.)(Brief Article)
August 1, 2005... Integrated Packaging Corp. opened a new corrugated manufacturing plant in Alexandria, Louisiana, that is expected to create more than 50 new jobs within the first 18 months, says Chris Michel, IPC's director of new business development. An...

Expansion plans for Carol's Daughter.(NEWSBYTES)(Brief Article)
August 1, 2005... Carol's Daughter, a multimillion-dollar Brooklyn, New York-based skin and haircare line, is set for expansion. Founder Lisa Price has signed on a team of investors, including consumer marketer Steve Stoute, Will and Jada Pinkett Smith, and...

M.R. Beal & Co.(NEWSBYTES)(opens Atlanta office)(Brief Article)
August 1, 2005... M.R. Beal& Co. (No. 6 on the BE INVESTMENT BANKS list with $45,3 billion in total managed issues) opened an office in Atlanta n March to take advantage of demand for municipal financing in the region Atlanta continues to enjoy population growth...

MV Transportation Inc., purchased the assets of Salinas, California-based Pro Transportation Services Inc.(NEWSBYTES)(Brief Article)
August 1, 2005... Positioning itself to grow an additional 25% by the end of 2005, MV Transportation Inc, purchased the assets of Salinas, California-based Pro Transportation Services Inc. in May. The move will add more than $2 million in annual revenues to the...

Blacks underrepresented in legal field: ABA report shows stark contrasts in the career tracks of lawyers.(FACTS & FIGURES)(American Bar Association)
August 1, 2005... Though African Americans have made major strides in the legal field, black attorneys remain largely underrepresented in top-paying legal jobs, and the number of black students enrolling in law school has fallen to a 12-year low, according to a...

Preparing to evict tenants: follow state procedures to minimize the pain of this unpleasant task.(HOMEOWNERSHIP)
August 1, 2005... John Davis tells anyone who will listen that managing real estate is "no joke." The 37-year-old research engineer for IBM owns a two-family house in Brooklyn, New York, and he cautions would-be landlords to educate themselves on the eviction...

Protecting your assets: obtain the right policies to defend against the unexpected.(INSURANCE)
August 1, 2005... Insurance can protect against unforeseen losses, but which type of coverage is best? Experts weigh in to clear the mystery. DISABILITY INSURANCE The biggest asset a working person has is his or her ability to earn income. Whether young...

No defense against the market: a tumultuous economy hampered Walt Clark's defensive stock strategy.(PORTFOLIO REVIEW)
August 1, 2005... Last year, Walt Clark, president and CEO of Clark Capital Financial L.L.C. (www.clarkcapital.net), chose five stocks exclusively for BLACK ENTERPRISE. His approach involved picking a mix of defensive stocks, those able to withstand volatile...

5 trends that will make you rich: ideas on how to reap large gains.(35 STEPS TO A BETTER LIFE)
August 1, 2005... Accumulating wealth doesn't always have to be a mystery. Many times, following proven strategies or having the commitment and discipline to follow investment trends can produce results over time. The following are five trends to a wealthier...

Finding a niche in black theater: producers specialize in adapting black novels into stage plays.(Enterprise)(Je'Caryous Johnson)(Gary Guidry)(I'm Ready Productions Inc.)
August 1, 2005... Fed up with the lack of quality parts available to black actors in Hollywood, self-described "starving actor" and Houston native Je'Caryous Johnson left Tinseltown behind and instead decided to create an outlet for African Americans to acquire...

Media matters: consulting firm offers affordable marketing alternatives to small businesses.(MAKING IT)(TSG Consulting Inc.)
August 1, 2005... Some people think it takes a boatload of cash to start a successful business, but Mary A. Spio knows better. "When it comes to building an enduring business, resourcefulness is more valuable than cash," says this CEO and founder of New...

5 steps to starting a successful business: these time-tested methods will help you put your startup plans into action.(35 STEPS TO A BETTER LIFE)
August 1, 2005... Starting a business is tough. But applying sound principles will increase your chances of success. Five key areas you should focus on before you get your startup running include: financing your business; creating an effective marketing plan;...

Tracing your ancestry: geneticist uses DNA technology to provide a bridge to the past for people of African descent.(BLACK DIGERATI)(Rick Kitties)(African Ancestry)
August 1, 2005... Rick Kitties confesses that the motivation for starting his company was purely selfish. "Like many African Americans, I wanted to trace my ancestry. But like so many of us, I hit a brick wall." So, the molecular biologist did something about...

Filled to capacity: external storage devices are evolving to meet increasing data demands.(HOT PICKS)(Seagate 5GB Pocket Hard Drive)
August 1, 2005... Are you looking for a high-capacity storage device big enough to store and preserve tons of vital computer data? You're not alone. Companies and individual PC users are all storing and using larger amounts of data than ever before. And the...

5 trends to enhance broadband: advances in high-speed Internet are impacting the way we live.(35 STEPS TO A BETTER LIFE)
August 1, 2005... When the dot-com era emerged in the mid-1990s, Internet change agents were quick to predict a new world of merging media--the phenomenon known as convergence. They envisioned a time when telecom companies would offer video services and cable...

Looking for an interview? Use your competencies. That's what top companies want.(MAKING CONNECTIONS)
August 1, 2005... Vernetta Wilson wants to make a career change. The senior account manager at Lippincott, Williams & Wilkins, a Baltimore-based publishing company, is eyeing a position in advertising sales after more than a decade on the production side of the...

Getting commitment from black managers: study shows corporations fail at retaining minority employees.(DIVERSITY WATCH)
August 1, 2005... Despite diversity efforts by progressive firms over the last decade, African Americans still only hold just under 10% of management positions in corporate firms. And for many managers of color on the fast track there remain obstacles to...

Initiative for a Competitive Inner City.(ON THE MOVE)(Dorothy A. Terrell)(Brief Article)
August 1, 2005... 1 Dorothy A. Terrell is the new chief executive officer of the Initiative for a Competitive Inner City, an organization dedicated to inner-city economic development. She is responsible for broad execution and operational management of ICIC....

University of Tennessee Health Science Center.(ON THE MOVE)(William F. Owen Jr.)(Brief Article)
August 1, 2005... 2 William F. Owen Jr. has been appointed chancellor of the University of Tennessee Health Science Center and vice president of health affairs for the University of Tennessee. As VP he is responsible, universitywide, for coordinating education,...

White House / Black Market.(ON THE MOVE)(Tanya Cauren)(Brief Article)
August 1, 2005... 3 Tanya Cauren has joined White House | Black Market as director of technical design. She is responsible for establishing fit and construction standards for the company in all apparel product areas as well as establishing process and procedures...

AXA Advisors.(ON THE MOVE)(Lyndall Hedearis)(Brief Article)
August 1, 2005... 4 Lyndall Hedearis has been named branch manager of the western division of AXA Advisors. In his new role, he is responsible for day-to-day operations as well as business development of the company's three Houston offices and the sales...

National Museum of African American History and Culture.(ON THE MOVE)(Lonnie G. Bunch)(Brief Article)
August 1, 2005... 5 Lonnie G. Bunch is the first director of the Smithsonian's new National Museum of African American History and Culture. As founding director, Bunch will identify the museum's mission and develop exhibitions and public programs about the...

Convention calendar.(POWERPLAY)(Brief Article)(Calendar)
August 1, 2005... August 2005 Blacks in Government 27th Annual National Training Conference Aug. 1-5; Orlando, FL; 202-667-3280; www.bignet.org National Black Theatre Festival Aug. 1-6, Winston-Salem, NC; 336-723-2266; www.nbtf.org National...

5 trends to get your career on track: what to expect in a fast-paced, ever-changing marketplace.(35 STEPS TO A BETTER LIFE)
August 1, 2005... As graduating students, job seekers, and current employees look to advance their careers, the only certainty is that opportunities will not be found doing business as usual. We asked several experts to give us a glimpse into what fast-trackers...

Invest in yourself: by investing in his education and business, K. Clyde Vanel is reaping tremendous returns.(BLACK WEALTH INITIATIVE)
August 1, 2005... K. CLYDE VANEL, THE SON OF HAITIAN immigrants, learned how to manage money from watching his parents stretch their resources to raise him and his nine siblings in Queens, New York. Vanel's mother, who cleans offices, and father, who drove a...

Asset alterations: the Vinsons need to diversify their portfolio to maximize their gains.(FAMILY FINANCES)(Rhonda and Marvin Vinson)
August 1, 2005... RHONDA AND MARVIN VINSON OF Lilburn, Georgia, are living the American dream. Married 15 years, the couple has money in the bank--a little over $60,000--plus a home worth $375,000, stocks and stock options valued around $50,000, more than a...

Win $10,000 toward your first home: six reasons to quit paying your landlord's mortgage and make the move to homeownership.(HOMEOWNERSHIP)(Cover Story)
August 1, 2005... BECOMING HOMEOWNERS WAS A DECISION VALERIE AND RON Francois made well before they got married in June 1999, Valerie, 34, had grown tired after years of renting in New York and New Jersey, and Ron, 36, was determined to do as his father had...

35 Black Enterprise: celebrating 35 years as your ultimate guide to financial empowerment.(Advertisement)
August 1, 2005... Dear Friends, Thirty-five years ago, as I launched this publication, I realized that the value of BLACK ENTERPRISE magazine needed to be proven, in its relevance both to our times and to the black community. A true testament to our value...

America's leading black philanthropists: giving back is one of the major tenets of the Black Enterprise Declaration of Financial Empowerment. In doing so, we advocate using money to develop our community and build wealth. On the following pages meet America's largest, and most strategic, black philanthropists.(SPECIAL REPORT)
August 1, 2005... From education to health, African Americans pump billions into charities and causes, fueling their clout and mission to change the world PAYING IT FORWARD IS DARRYL LESTER'S PHILOSOPHY on giving back. "I am trying to get people to...

Our readers sound off: our be.com message boards provide a forum for straight talk from real people.(35TH ANNIVERSARY)(Letter to the Editor)
August 1, 2005... Since the inception of BLACK ENTERPRISE 35 years ago, readers have spoken out on issues important to African Americans, ranging from the state of black business to our political affiliations and our financial health. Today, technology...

Then & now: BE's coverage over the last four decades reveals how far we've come and how far we must go.(35TH ANNIVERSARY)(Black Enterprise)
August 1, 2005... In covering African American's participation in commerce and finance for 35 years, BLACK ENTERPRISE has exposed the good, bad, and ugly. In the 1970s, black entrepreneurs and corporate professionals expanded their horizons as a result of civil...

An agenda for black America: from wealth to diversity, our editors offer an action plan.(35TH ANNIVERSARY REPORT)
August 1, 2005... Black America needs fixing. It's true we've seen major advances over the course of 35 years, with more successful, educated, and accomplished black entrepreneurs and corporate professionals than at any other time in history. The black...

All the right moves: former champ teaches game of life through chess.(EVERYDAY HERO)(Orrin Hudson)
August 1, 2005... At 14, Orrin Hudson was headed down a path traveled by countless young black men in his neighborhood. In the Birmingham, Alabama, housing project he called home--along with 12 siblings-Hudson cured his teenage boredom by stealing and selling...

5 ways to discover what's important: are you ready to get started?(35 STEPS TO A BETTER LIFE)
August 1, 2005... 21 Make time for yourself Making time for you is really, and I mean really, a lost art. When was the last time you sat in complete silence with your thoughts? Try this little exercise: take an hour or two out of your day and devote it only...

Unjust clause: mandatory credit card arbitration leaves consumers on losing end.(CONSUMER ALERT)
August 1, 2005... The next time you check your mailbox, look closely. You may have gotten a notice from your credit company with fine print stating new policies and procedures that you didn't bother to read. That little pamphlet might be worth a second look,...

Total recall: car manufacturers' methods of reporting defects don't add up.(DID YOU KNOW?)(Brief Article)
August 1, 2005... The family car can be a life threatening and dangerous possession. Perhaps that is why, in 1993, The National Highway Traffic Safety Administration (NHTSA) proposed an amendment to its regulations requiring car manufacturers to notify dealers...

In and around town: government site offers up-to-date info on everything consumer.(PRICELESS RESOURCES)(Brief Article)
August 1, 2005... It's a consumer's dream. The Website www.firstgov.gov offers everything you wanted to know about government business and then some. Want to know where to find cheap gas, government auctions for real estate and cars, or even check the...

5 tips to help you become a better consumer: the road to savvy consumerism starts now.(35 STEPS TO A BETTER LIFE)
August 1, 2005... African Americans are spending a lot of money, on everything from clothes and cars to homes and vacations. But as we continue to spend simply because we can, we should be mindful of five steps that can make us better consumers: 26 Deal...

Knows how to hold 'em: poker champ David Williams reveals a full hand.(THE ENTHUSIAST)(Brief Article)
August 1, 2005... David Williams hasn't experienced many life-changing moments, so for him, winning $3.5 million as a second-place prize in last year's World Series of Poker was the best day of his life. Williams, 25, a native of Fort Worth, Texas, put his final...

A cultural stop: taking in the museum and art scene in London.(FIRST-CLASS TICKET)
August 1, 2005... Soaring ceilings, a hushed interior, and light streaming through stained glass make the Natural History Museum a sanctuary in London's bustling South Kensington area. Roman columns flank the atrium, where the 25-foot skeleton of a Diplodocus...

Benefits of a yoga workout: Robin Downes stretches her way to health.(35 STEPS TO A BETTER LIFE)
August 1, 2005... Although Robin Downes had a successful media career in film and television--even winning an Emmy in 1981 for news and documentary achievements for her work at ABC's 20/20--the seeds for becoming a certified yoga instructor had already taken...

B.E. and Clear Channel forge on-air partnership: radio report unlocks pathway to new audience.(NEW DEALS)(Black Enterprise)
August 1, 2005... BLACK ENTERPRISE and Clear Channel the largest owner of radio stations in the country, recently signed a deal to produce Black Enterprise Magazine's Keys to A Better Life radio report. Using well-known talent including Cedric the Entertainer...

Backtalk with Wynton Marsalis.(Interview)
August 1, 2005... Today, the piano inside the studio at Jazz at Lincoln Center is tucked away against the wall, replaced with a tall basketball rim. In the center of a small crew playing a friendly lunch-hour game is Wynton Marsalis: trumpeter, classical...