Business and Finance
Black businesses face an uphill battle after an overturned racism ruling
Earlier this month, a federal judge dealt one other blow to the federal government’s efforts to shut the racial equity gap and higher serve Black and Brown communities.
The latest setback was Judge Mark Pittman’s ruling ordering the Minority Business Development Agency (MBDA) to now not take race or ethnicity into consideration when providing services to small businesses within the US.
“This is not one attack, but a series of attacks on the measures the federal government has put in place to address it,” Patrice Willoughby, senior vice chairman for global policy and impact on the National Association for the Advancement of Colored People (NAACP), told Grio.
Using the identical constitutional argument that the U.S. Supreme Court used to strike down race-conscious affirmative motion in college admissions last yr, Pittman, appointed by former President Donald Trump to the U.S. District Court for the Northern District of Texas, concluded that MBDA qualified by identifying themselves as “disadvantaged persons,” business owners violated the Equal Protection Clause of the 14th Amendment.
In other words, the judge argued that the agency violated the constitutional rights of white business owners.
“While the agency’s work may help reduce opportunity gaps facing MBEs (minority business owners), two wrongs do not make a right,” Pittman wrote in his ruling.
Elected officials and supporters are condemning the federal court’s ruling, blaming a movement led by conservatives and supported by Republican-appointed judges that’s undermining decades-long efforts to right historic wrongs which have affected Black and brown communities. Advocates fear that the MBDA ruling could further exacerbate existing racial disparities in property and wealth.
“We really should see this as a response to Black economic progress,” said Willoughby, former executive director of the Congressional Black Caucus. “It is very clear that because discrimination still exists, these programs are still needed.”
The mission of the Minority Business Development Agency is to advertise the expansion and competitiveness of minority-owned businesses within the United States. MBDA provides minority business owners with access to capital, contracts and advisory services. Ironically, the agency was founded by Republican President Richard Nixon in 1969. Under Democrat Joe Biden, it became a everlasting agency under federal law, expanding its reach nationwide.
White House press secretary Karine Jean-Pierre told the Grio that Biden is “very proud” of signing MBDA’s everlasting government status into law.
“Over the last three years, 16 million applications have started under this administration, which is important,” a Biden spokesman said. “There was definitely a boost… with minority-owned businesses starting their small businesses.”
Now that MBDA will probably be legally required to make its programs available to white business owners, experts fear it should feed into already existing patterns of implicit or explicit racial bias and further widen the racial wealth gap.
“Basically, people will do business with people they like,” Willoughby explained. “They want to increase the visibility of who can benefit underground, so that there is no oversight, no regulation, and no broader assistance when it comes to DEI.”
Samantha Tweedy, chief executive of the Black Economic Alliance, said the judge’s ruling “results in the MBDA being unable to support diverse business owners navigating an economic system that research shows is permeated by racial bias.”
“We know this is the goal of many who want to reclaim the paths of economic progress open to the Black community,” said Tweedy, who called on Congress and the White House to “step in to protect the vital role of MBDA.” ”
So far, “reversal racism” rulings that roll back race-specific programs intended to deal with racial disparities have hit college campuses, businesses and even Black farmers. These cases were largely brought by conservative activists, including millionaire Edward Blum, who championed the affirmative motion case before the Supreme Court. Blum can also be behind an ongoing lawsuit against the Black women-owned Fearless Fund, arguing that its program to extend funding for Black women entrepreneurs is discriminatory against white women-owned businesses.
“You remove the legal framework that allows them to challenge discrimination,” Willoughby explained of the growing variety of legal challenges against DEI. She said success within the courts “emboldens opponents of equality” and turns back the clock on racial progress.
“Basically (they) are trying to return America to what these opponents called the good old days, but in reality it was a white supremacist framework,” Willoughby noted, “to which black businesses and people of color really had very limited access to the benefits of this country that other people enjoyed.”
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According to the February 2024 report Brookings InstitutionWhile Black-owned businesses experienced continued growth from 2017 to 2021, the variety of Black-owned employer businesses stays disproportionate to the variety of Black people living within the United States. In 2021, Black Americans made up just 2.7% of employers, despite making up 14.4% of the population. Closing this loophole, the report argues, would stimulate the U.S. economy and create 1000’s of additional jobs.
Looking ahead to the fight against legal failures in DEI-related programs, Willoughby told the Grio that policymakers, researchers and litigants might want to increase data collection and advocacy efforts. Proponents of DEI programs might want to make “a better case in the courts” and “a stronger case for the existence of any remedy where race is linked to disadvantage.”
“Collecting data, documenting discrimination and proving that disadvantage is directly related to race” will turn out to be rather more vital, she said.
The current legal failures also reflect the indisputable fact that decisions have consequences. In addition to Trump nominating Pittman as a judge, three Supreme Court justices who joined the bulk to finish race-based affirmative motion.
“Now this court, which is hostile to issues related to race and racist measures, will continue to operate for the next decade,” Willoughby said.
“Voting is tied to Black progress,” she added. “Even if you feel disconnected, you still need to check who has your interests at heart and vote with your wallet to identify candidates who will strengthen your participation in the economic system.”
Gerren Keith Gaynor is a White House correspondent and managing editor of theGrio’s Politics section. He lives in Washington
Business and Finance
First black lottery operator
In a city that pulls thousands and thousands of individuals all over the world, Emmanuel Bailey’s success story began in Washington. He began from humble beginnings, growing up with a single mother and moving from rental to rental throughout town and the Washington, D.C., metropolitan area for many of his childhood. At the peak of the drug epidemic, he saw his hometown affected by crime and poverty, and when he returned from college, his town was considered the murder capital of the country. Yet despite these adversities, he all the time worked hard and looked to a brighter future – a super his mother instilled in him since he was a small child.
As Bailey began his journey to a brighter future, he realized that to achieve success, he needed to pursue a university education. Through these pursuits, he became the primary member of his family to attend and graduate from college. He enrolled at Eastern Kentucky University, earning a bachelor’s degree in business administration. While at EKU, he set out to realize the high level of success his mother expected of him in all areas. After graduating from EKU, he obtained an Executive MBA from the Business School. Robert H. Smith on the University of Maryland.
Emmanuel achieved early success within the financial sector. Over the following 25 years, he rose through the ranks, starting as a branch manager at Citizens Bank of Maryland and ending with vice chairman of Fannie Mae. These roles provided him with invaluable experience as a seasoned entrepreneur and leader. After all the pieces he had achieved at Fannie Mae, it was time to strike out on his own.
Seeing the potential within the lottery industry, Emmanuel founded an operations and management services company to run lotteries more efficiently and effectively. Key service providers (VSC) has management experience in all facets of the state lottery contract, including providing direct supervision and management of lottery agents, retail systems, implementation and maintenance of gaming equipment, and oversight of the performance of the central gaming system. He worked in various positions in state lotteries across the country to achieve real institutional knowledge of the ins and outs of the brand new industry he was entering. Combining his latest knowledge with business sense, he decided to win contracts with the most important names within the industry.
The lottery industry is amazingly competitive, and contracts are sometimes awarded to large national firms. However, as Emmanuel grew his business, hiring experienced staff and expanding VSC’s capabilities, he began to make a reputation for himself as a trusted and talented operator within the industry. He soon partnered with titans in the sector and eventually became the one black business owner to operate a state lottery in your entire United States, in his home “state” of Washington.
But his success didn’t end there.
Bailey continued to hone his expertise, turning VSC right into a multi-million dollar company with over 100 employees. He was honored with the 2020 North American Association of State and Provincial Lotteries (NASPL) Powers Award, which he won based on nominations from the DC Lottery itself. In its nomination, the District of Columbia said Emmanuel “is far from a stereotypical executive… and will ensure that the DC Lottery continues to operate every day and that our company remains profitable into the long-term future.” It continues to grow its business by opening a VSC office in Maryland and searching to expand its geographic reach.
Despite all his success, Emmanuel never forgot his family and his connection to his community. He stays deeply committed to giving back to DC communities. He has donated a whole lot of 1000’s of dollars to varied local DC-based organizations supporting programs comparable to school athletic and humanities departments, educational support and health care. He also served and continues to serve on the boards of many local organizations.
Now Emmanuel looks to the longer term. Always striving to enhance his business, Emmanuel works to enhance operations and improve the efficiency of the DC Lottery, while also giving back to the community and creating more opportunities for young children growing up in circumstances like his own. While his feet are firmly planted within the DMV, his ambitious and entrepreneurial spirit has his eyes on expansion into additional states. He says his best achievement, above all his other achievements, is that he helped his mother retire.
Business and Finance
David Shands and Donni Wiggins host the “My First Million” conference at ATL
December is the birth month of David Shands and Donnie Wiggins, friends and business partners. Most people have fun by throwing a celebration. Others imagine it must be catered for. The chosen ones spend the day relaxing in peace and quiet.
Then there’s Shands and Wiggins.
The two decided that the best birthday gift can be to offer individuals with resources for generational wealth through a conference called “My first million”in Atlanta.
It’s a compromise between how their families and family members need to honor them and their desire to proceed to serve others. Shands acknowledges that almost all people won’t understand, and he unapologetically doesn’t expect them to.
“It’s not up to us to convince anyone why we do what we do,” admits Shands.
“I think everyone does what they do for different reasons, and I would just attribute it to a sense of accomplishment that I can’t explain to anyone else.”
He doesn’t need to clarify this to Wiggins because she understands his feelings. Wiggins has had a passion for serving others for so long as she will be able to remember.
“When I was in middle school, there were child sponsorship ads on TV featuring children from third world countries. I was earning money at the time and I asked my mother to send money,” she says BLACK ENTERPRISES.
She recalls how sad she felt for youngsters living in a world with so many opportunities, but at the same time going hungry. Her mother allowed her to send money, and in return she received letters informing her of their progress.
“It was very real to me,” Wiggins says, now admitting she’s undecided the letters were authentic. “I received a letter from the child I sponsored, a photograph and some updates throughout the 12 months. It was such a sense of being overwhelmed and it was something I felt so good about. I didn’t even tell my friends I used to be doing it.”
She carried this sense throughout her life, even when she lost every little thing, including her house, cars, and money. She still found ways to serve and give back, which is the basis of her friendship with Shands.
They each love seeing people at the peak of their potential, and that is what “My First Million” is all about. There can be no higher birthday gift for them than helping others create generational wealth.
What to expect during the “My First Million” conference.
They each built successful seven-figure empires, then train others, write books about it, and launch an acclaimed podcast Social proof.
Now they’re imparting that knowledge through the My First Million conference, an event for aspiring and existing entrepreneurs. Shands and Wiggins need to prove that being profitable is feasible and encourage people to bet on themselves.
“David and I, on paper, are not two people who should have made millions of dollars. Number one, we want (people) to see it,” Wiggins says. “Then we want them to actually get out of that room with practical and actionable steps.”
Both are clear: this just isn’t a motivational conference. This is a conference where people, irrespective of where they’re of their journey, will come away with clarity about their business and what they must be doing as CEOs. Shands and Wiggins want individuals who do not have a transparent marketing strategy or are considering starting a business to also attend the meeting.
“A few areas we will cover are inspiration, information, plan and partnership,” adds Shands. “We will give you 1-2-3 steps because some people get depressed and uninspired. Even if they know what to do, they won’t leave, go home and do it. So we have to really put something into their heads and hearts that they come away with.”
Sign up and enroll for My First Million Here. The conference will happen on December 13 this 12 months. but Shands and Wiggins say it definitely won’t be the last for those who miss it.
Business and Finance
Operation HOPE on the occasion of the 10th annual world forum
Operation HOPE Inc. takes over Atlanta for the biggest game in the country dedicated to financial literacy and economic empowerment, Saporta reports.
The HOPE Global Forums (HGF) Annual Meeting 2024 strengthens the crucial link between financial education, innovation and community upliftment in hopes of finding solutions to the problems that stifle challenges around the world.
Organized by Operation HOPE founder John Hope Bryant, together with co-chairs Atlanta Mayor Andre Dickens and U.S. Ambassador Andrew Young, the forums, to be held December Sep 11 at the Signia Hotel, will have fun its 10th anniversary with three days of engagement discussions, observations and forward-looking presentations.
Under the theme “The Future,” Hope Bryant says attendees are looking forward to a “powerful moment in history.”
“Over the past decade, we’ve brought together great minds with daring ideas, servant leaders with voices for change, and other people committed to a brand new vision of the world as we realize it. “‘The Future’ is a clear call to action for leaders to help ensure prosperity in every corner of society,” he said.
The extensive program includes influential and well-known speakers who address business, philanthropy, government and civil society. Confirmed speakers include White House correspondent Francesca Chambers, media specialist Van Jones and BET Media Group president and CEO Scott M. Mills.
“John Hope Bryant and his team have been doing this for ten years, and every year HGF raises the bar,” Young said. “Discussions about the FUTURE are important not only for civil dialogue; they are also essential to bridging the economic divide and solving some of today’s most important problems.”
Atlanta is predicted to welcome greater than 5,200 delegates representing greater than 40 countries.
“I have long said that Atlanta is a group project, and through our partnership with HOPE Global Forums, we are inviting the world to join the conversation,” Dickens mentioned. “From home ownership and entrepreneurship to youth engagement and financial education, HGF will offer bold and innovative ideas to ensure a bright future for all.”
It coincided with the organization’s annual meeting launched one other path to enhance financial knowledge with HOPE scholarships. With three tiers of scholarships – HOPE Lite, HOPE Classic and HOPE Silver – clients could have access to free financial coaching and academic resources.
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