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“Too often, companies don’t realize the inherent differences of our community, are not aware of the market size impact and have not optimized efforts to develop messages beyond those that coincide with Black History Month,” said Cloves Campbell, chairman, NNPA. “It is our hope that by collaborating with Nielsen, we’ll be able to tell the African-American consumer story in a manner in which businesses will understand,” he said, “and, that this understanding will propel those in the C-Suite to develop stronger, more inclusive strategies that optimize their market growth in Black communities, which would be a win-win for all of us.”

Read the full Neilson report on Black Consumer Buying Power > 

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The great recession was officially declared over in 2009, but the events of the last few weeks make it clear that while Wall Street and big business may be coming back, the economic recovery has remained out of reach for millions of Americans.  Last week, in the wake of the dysfunctional debt ceiling debate and an agreement that fell far short of just about everyone’s expectations, the nation’s credit rating was downgraded for the first time in history from AAA to AA+.  This could mean higher interest rates for mortgages, car loans, and credit cards.  In addition, the July jobs report shows that while overall unemployment has ticked down to 9.1 percent, 14 million Americans remain out of work.  Hispanic unemployment is stuck at 11.3 percent.  African American unemployment continues to lead the nation at 15.9 percent.  And with Black male unemployment at 17 percent, and as high as 34 percent in cities like Milwaukee, some have dubbed this the “Black Mancession.”

The National Urban League (NUL), the Congressional Black Caucus and other progressive leaders have long understood that America’s future is inextricably linked to the fate of the millions of Black men in our cities who have historically languished at the bottom of the economic ladder in both good times and bad.  In addition to being last in line for jobs, 50 percent of Black males don’t finish high school and Black men are six times more likely than white men to be incarcerated.  Empowering Black males to reach their full potential is one of the most serious economic and civil rights challenges of our times.

In 2004 the National Urban League launched its Black Male Initiative to address the obstacles impeding the success of black men and boys – especially the poor and young who’ve fallen off the nation’s radar screen.  From our Black Executive Exchange Program which exposes HBCU students to African American role models to our Urban Youth Empowerment Program which provides education, job training and mentoring assistance to prepare out-of-school and/or adjudicated young people for the world of work, the NUL has fought an often lonely battle to save the next generation.

Last week, New York Mayor Michael Bloomberg joined that effort in a big way – announcing one of the boldest and most comprehensive programs in the nation to address the huge economic disparities impeding the advancement of more than 300,000 of that city’s Black and Latino young men.  The Young Men’s Initiative, a three-year, $127 million public-private partnership, which includes $30  million from the Mayor’s own charitable foundation, will make significant reforms to education, health, employment and justice system services to better prepare young African American and Latino men for jobs and keep them out of prison.

We applaud Mayor Bloomberg’s commitment and action.  His Young Men’s Initiative, like the National Urban League’s 12-point Jobs Rebuild American plan and the Urban Jobs Bill championed by Senator Kirsten Gillibrand and Representative Edolphus Towns, recognizes that without a targeted, comprehensive effort to help those hardest hit by the economic downturn, the nation’s recovery will never be fully complete.

32TBE 8/10/11 – 120 Wall Street / New York, NY 10005 / (212) 558-5300 / WWW.NUL.ORG

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”Bonding is one of the ways we’ve avoided facing the consequences of mass incarceration in our state,”  said April Young, the Collins Center’s Vice President for Justice Initiatives, “but we simply cannot afford this.”

Florida’s prison population has increased significantly over the past three decades.  The number of inmates grew from just under 20,000 in 1980 to more than 102,000 in 2010.  This growth was accompanied by a spike in public spending on prisons.  In 1980, the Corrections budget was $169 million. In FY2010-11, it jumped to nearly $2.4 billion.

To fund the cost of prison construction while meeting the constitutional requirement to balance the state budget, Florida – like many states – resorted to a complicated system of borrowing through the issuing of lease revenue bonds – a type of certificate of debt issued by government or other public entities to raise money. Lease revenue bonding has become a common means to achieve a balanced state budget. However, it is not well understood by the general public even as it obligates them to considerable debt well into the future.

“Florida’s taxpayers owe more than $1 billion, or about $200 per household, to pay for recently built state prisons,” said Dominic M. Calabro, President and CEO of Florida TaxWatch.  “Borrowing to build more prisons is not the way Florida should be addressing public safety.  Florida needs to enact comprehensive smart justice reforms that keep us safe while saving us money.”

Among the findings detailed in the report:

Ø  There is currently $721.7 million in prison bonding debt outstanding requiring future payments of approximately $1 billion when debt service and interest payments are included.

Ø  The exponential increase in the prison population in recent years cannot be explained by increasing crime rates, since crime rates have steadily declined in the past 20 years.

Ø  Florida leads the nation in incarceration rates and stringency in law and sentencing, making its criminal justice system among the most punitive of the 50 states as measured by more than 40 variables, including average prison sentences, life imprisonment, and prison conditions.

Ø  43 percent of the total cost of prison construction and expansion between 2006 and 2010 was paid for by issuing lease revenue bonds.

The report outlines some of the policy choices in Florida that have led to the increases in the prison population.  It describes the wide range of criminal justice reforms undertaken in other states that are successfully reducing prison populations and saving significant money without endangering public safety. It recommends:

Ø   A moratorium on any new bonding to build prisons until the Governor and Legislature fully disclose to the public the all costs created by the use of prison bonding and give citizens voice in determining whether they want to pay for criminal justice policies that result in the growth of the prison system without increasing public safety.

Ø  Florida legislators seriously review the criminal justice policies and practices which have contributed to the growth of the prison system over the past two decades and have financially strangled the state.

Ø  Florida join the growing number of states that are undertaking a broad range of criminal justice policy reforms led predominantly by conservatives who understand that highly punitive and incarceration-heavy penalties even for minor, non-violent crimes are unsustainable.

To read the report, visit www.CollinsCenter.org. Named after Florida Gov. LeRoy Collins, the nonprofit Collins Center is independent, nonpartisan and dedicated to advancing the understanding of important public policy issues.

Florida TaxWatch is a statewide non-partisan, non-profit research institute that over its 31 year history has become widely recognized as the watchdog of citizens’ hard-earned tax dollars.  Its mission is to provide the citizens of Florida and public officials with high quality, independent research and education on government revenues, expenditures, taxation, public policies and programs and to increase the productivity and accountability of Florida state and local government. Its support comes from homeowners and retirees, small and large businesses, philanthropic foundations, and professional associations. On the web atwww.FloridaTaxWatch.org.

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Tracey Lowe

Tallahassee Communications Manager

Tallahassee Operations Manager

tlowe@collinscenter.org
www.CollinsCenter.org

2630 Centennial Place, Suite 2

Tallahassee, FL  32308
Office: 850-219-0082, ext. 1413
Fax: 850-219-0491

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Whites were about twice as likely as African-Americans and Hispanics to be approved for prime mortgages with the lowest interest rates, while members of the two largest minority groups were two to four times more likely to receive subprime loans, which have higher rates. By contrast, the disparities were much narrower for loans insured by the government’s Federal Housing Administration, which has attracted a growing number of borrowers during the credit crunch.

For subprime loans, the number of these loans originated for African-Americans fell 95% when comparing 2004 and 2009. The number originated to Latinos fell by 92%, to whites, 81% and Asian-Americans, 87%.

The number of Federal Housing Administration insured loans originated for whites increased by 238% between 2004 and 2009, while for African-Americans the increase was only 80%, Latinos, 119% and Asian-Americans, 447%.

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Do what you normally would do on a social networking site: build your profile, start posting and then refer other subscribers who you think would appreciate the privacy and security the social network offers.

Commissions are NOT one-time commissions. You will receive your commission every month they remain a paying subscriber. This enables you to truly build an income stream. http://www.bit.ly/changeamerica

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Join now and build your Crazygood member profile and tell Crazygood where to send your commissions. Be sure to click the link in blue, not the video which explains in detail just how this awesome cause works!

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First, it supports their desire for a greater level of security than other networks offer. It’s not a bullet-proof protection from those individuals, who would join social networks with alterior motives, but it does allow them to know who invited whom into the community.

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What We Do Matters: Linking Strategic Thought To Action

Wednesday Friday, May 18-20, 2011

NAWMBA’s 2011 Summit for Emerging Executives tackles a complex problem – the retention and advancement of female professionals – from a new direction. Our focus is on building individual women’s skills in both the interpersonal and implementation realms to increase their effectiveness and contribution to your organization. An investment in the 2011 Summit is an investment in helping the women in your company excel.

Click here for more information

For a recap of the Education Panel at the National Association of Black School Educator’s in Fort Worth, Texas, see below.

Congratulations to our inspiring client Mrs. Betty S. Burney, education consultant and author of www.talkingchains.com, for her outstanding service to the community of Jacksonville at the National Association of Black Educators Conference in Fort Worth, Texas on November 15-18th. Check out a brief passage from the Education Panel sponsored by Pearson, featuring Mrs. Burney.

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Strong Black Turnout Could Determine Outcomes of Key House, Senate and Gubernatorial Races
Joint Center Releases Midterm Election Analysis

WASHINGTON, DC—Less than three weeks before Election Day, a new analysis shows that African American voters are strategically located in states and districts where, if they turn out in substantial numbers, they could make a difference in who controls the House, the Senate and up to 14 governorships.

The report, In Anticipation of November 2: Black Voters and Candidates and the 2010 Midterm Elections, was released today by the Joint Center for Political and Economic Studies, a leading authority on the black electorate that has consistently surveyed and reported on the opinions of African Americans since 1970.  It is available on the Joint Center’s website at www.jointcenter.org.

The analysis was conducted by David A. Bositis, Ph.D., Senior Political Analyst at the Joint Center, and discussed with a standing room only roundtable of journalists and other political organizations in Washington. Dr. Bositis said this election could echo midterm elections in 1986, when significant black turnout helped Democrats gain House seats and take control of the Senate, and again in 1998, when Democrats picked up governorships in Alabama, South Carolina and Georgia. “There are 20 House seats and 14 Senate seats in addition to 14 gubernatorial races where the black vote has the potential to determine the outcome of this year’s elections,” Dr. Bositis said.

Widespread predictions that Democrats will endure sweeping losses may be premature if party leaders play a strong ground game that includes persuading African Americans to go to the polls in greater numbers than they have in some other midterm elections, added Dr. Bositis. “The extent of the Democrats’ losses will depend on their ability to turn out their most loyal voters, and no voting bloc will be more important to them than African Americans. If they can mobilize a strong black turnout, the Democrats can significantly reduce their potential losses,” Dr. Bositis said.

“It is clear from this analysis that we have not reached the final chapter of the election story in many key states and Congressional districts, and that African American voters could end up being the authors of events if they match their turnout rates from other recent midterm elections,” said Joint Center President and Chief Executive Officer Ralph B. Everett who moderated today’s roundtable discussion.

Dr. Ruy Teixeira, Senior Fellow with The Century Foundation and the Center for American Progress, a renowned political demographer who participated on the panel commented, “This election isn’t over yet. While the so-called likely voter poll results look exceptionally bad for the Democrats, it should be remembered that likely voters at this point in the campaign are just a guess as to who will show up on Election Day.”

The Joint Center for Political and Economic Studies is one of the nation’s leading research and public policy institutions and the only one whose work focuses primarily on issues of particular concern to African Americans and other people of color. The Joint is celebrating its 40th Anniversary this year. To learn more, please visit www.jointcenter.org.

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Market-driven program spurs additional capital assistance to help small businesses grow, create jobs at no cost to taxpayers

WASHINGTON – At a time when capital was scarce for small business, financing from the U.S. Small Business Administration’s growth capital program increased 23 percent in fiscal year 2010, providing a record $1.59 billion to help small businesses grow and create jobs, according to SBA Administrator Karen Mills.

The fiscal year 2010 volume is the highest single-year volume in the 50-year history of SBA’s Small Business Investment Company (SBIC) debenture program.  Increased volume in the program is in part a result of changes made by the American Recovery and Reinvestment Act of 2009. Those changes contributed to an increased number of new SBIC licenses, decreased license processing times, and initial capital to new funds rose dramatically.

“At a time when access to capital was tight, including from the traditional sources for growth capital, SBA helped fill some of that gap with a record amount of financing through our SBIC program,” Mills said. “Across the country, there are small business owners and entrepreneurs who are well-positioned to take that next step, grow their business and create good-paying jobs. Our efforts to strengthen our program efficiency and increase funding available through the SBIC program has provided another critical tool to help these small businesses get the capital they need and drive economic growth.”

The SBIC program was created to stimulate the growth of America’s small businesses by supplementing the long-term debt and private-equity capital available to them. SBA’s SBIC fiscal year 2010 results included the following:

• Record High Financing to Small Businesses: Total financings to the SBA SBIC debenture program grew to a 50-year record high of $1.59 billion in fiscal year 2010 – a 23 percent increase over an average $1.29 billion in the four previous years. Debenture program obligations grew to $1.17 billion from an average $750.6 million, another 50-year record high.
• More Licensed SBICs and Faster Processing Times: Twenty-one (21) new SBIC licensees were issued in fiscal year 2010, a 130 percent increase over the four-year average of 10 per year. Additionally, SBIC license processing time improved to just 5.8 months in fiscal year 2010, a nearly 60 percent decrease from an average of 14.6 months in 2009.
• Record High Capital Commitment to Support Small Businesses: SBA capital commitments to new funds broke yet another 50-year record increasing to $1.23 billion in fiscal year 2010, a 135 percent jump from an average of $524.3 million in the four previous years. Equally important, the programs attracted record levels of private capital commitments, increasing to $615 million in 2010 from $262.1 million in previous years – another 135 percent increase. Combined total initial capital to new funds increased to $1.845 billion in FY 2010 from an average $786.4 million.

SBICs are privately-owned and managed investment firms that are licensed and regulated by SBA. There are more than 300 SBICs with more than $16 billion in capital under management.

Since the SBIC program’s formation in 1958 through April 2009, it has invested approximately $56 billion in more than 100,000 small businesses in the United States.  For more information about the SBA’s Investment Division and SBIC program, go to www.sba.gov/INV or call 1-800-U ASK SBA.

# # #

Lola Kress
Public Affairs Specialist
U.S. Small Business Administration
North Florida District Office
7825 Baymeadows Way; Suite 100B
Jacksonville, FL  32256
(904) 443-1933 Office
(904) 626-2744  Mobile
(202) 481-4188  Fax
www.sba.gov/fl/north

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Richard P. Burton, Sr., Director

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