Monthly Archives: February 2013

HBCU Money™ Dozen Links 2/11 – 2/15

Did you miss HBCU Money™ Dozen via Twitter? No worry. We are now putting them on the site for you to visit at your leisure.

Government Departments

Trusted ID, monitoring efforts can’t keep IT security off high-risk list l Government Computer News http://ow.ly/hLFLn

Head outdoors with your family this weekend l Women’s Health http://go.usa.gov/4YyC

House votes to reverse $11B executive order raising federal employee salaries l House News http://bit.ly/UouM4W

House votes to extend pay freeze for federal workers l House News http://bit.ly/UouM4Q

USDA Blog: Regreening Baltimore l USDA http://ow.ly/hLG4W

“Women in Combat: Changing Roles of Women in the U.S. Military” l Truman Project http://tru.mn/12GilR5

Federal Reserve, Central Banks, & Financial Departments

Want an easy way to learn about the Fed? Watch this 14-minute animated video l St. Louis Fed http://bit.ly/XrSApL

Elementary teachers: Check out these lesson plans for teaching economic principles to your pupils l St. Louis Fed http://bit.ly/12GlLn0

How changes in immigration patterns affect small towns & big cities l Chicago Fed http://ow.ly/hLL2y

Will Alabama see an improving economy in 2013? South Point looks at some recent discussions l Atlanta Fed http://goo.gl/etJD4

Who generates new jobs? New macroblog looks at role of older firms in job creation l Atlanta Fed http://goo.gl/zRJgb

The role of monetary and exchange rate policy in Jamaica l Bank of International Settlements http://ow.ly/hLL9o

Thank you as always for joining us on Saturday for HBCU Money™ Dozen. The 12 most important government and central bank articles of the week.

The HBCU Money™ Weekly Market Watch

Our Money Matters /\ February 15, 2013

NAME TICKER PRICE (GAIN/LOSS %)

African American Publicly Traded Companies

Citizens Bancshares Georgia (CZBS) $5.05 (1.41% UP)

Radio One (ROIA) $1.69 (1.81% UP)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  180.16 (0.47% UP)

Botswana Stock Exchange (BSE)  7 829.49 (0.07% DN)

Ghana Stock Exchange (GSE)  1 396.93 (16.44% UP)*

Nairobi Stock Exchange (NSE)  107.58 (N/A)

Johannesburg Stock Exchange (JSE) 40 681.34 (0.13% DN)

International Stock Exchanges

New York Stock Exchange (NYSE) 8 927.77 (0.28% DN)

London Stock Exchange (LSE)  3 329.02 (0.07% UP)

Tokyo Stock Exchange (TOPIX)  942.41 (1.31% DN)

Commodities

Gold 1 606.30 (1.79% DN)

Oil 95.88 (1.47% DN)

*Ghana Stock Exchange shows current year to date movement. All others daily.

All quotes reported as of 4:00 PM Eastern Time Zone

2012’s Top 20 HBCU Research Institutions

HBCUs continue to make significant strides in research. The top 20 HBCU research institutions all fall in the top 330 research institutions in America. Unfortunately, none of the top HBCU research institutions make their way into the top 100 so there is still significant work to be done. The 1890 agriculture schools comprise 6 of the top 20 and HBCU medical schools make up 3 of the top 10. A sign that one of the 1890 schools could make significant strides with the addition of a medical school is a strategic issue that must be addressed among HBCUs.

Florida A&M University performs nothing less than a miracle making the leap from the 6 spot to number 1 by more than doubling its research expenditure budget. At the same time Meharry slides from 3 to 8 showing that in any given year a new king can be crowned with the right vision by leadership. Research is still a very under appreciated facet of HBCU life despite the fact that most of the major wealth in America has come as a result of research on college and university campuses. An investment in the mental curiosity of African America could go a long way to much needed innovation and job creation.

If you want to see your HBCU move up this listing you can donate directly to the research budget at your HBCU!

HBCU                                                                    Research Expenditures

1. Florida A&M University                                    $53.5 million

2. Jackson State University                                  $44.9 million

3. Howard University                                            $40.1 million

4. North Carolina A&T State University            $35.3 million

5. University of the Virgin Islands                      $32.4 million

6. Alabama A&M University                                $30.5 million

7. Morehouse School of Medicine                       $30.4 million

8. Meharry College of Medicine                          $27.0 million

9. Charles Drew University of Medicine           $22.2 million

10. Alabama State University                              $16.3 million

11. Tuskegee University                                        $15.6 million

12. Delaware State University                             $15.2 million

13. Hampton University                                       $14.5 million

14. Morgan State University                                $12.8 million

15. Prairie View A&M University                        $12.6 million

16. Tennessee State University                           $12.4 million

17. Fayetteville State University                         $11.9 million

18. Alcorn State University                                  $10.3 million

19. University of Maryland-Eastern Shore      $8.7 million

20. Clark Atlanta University                               $8.5 million

TOP 20 COMBINED TOTAL: $455.1 million

Additional Notes:

Total HBCU Research Expenditures Combined: $605.7 million

Top 20 HWCUs Combined: $18.3 billion

Top 20 Average HWCU – $910 million vs. Top 20 Average HBCU – $23 million

Top 20 HBCUs increase in research expenditure from 2011 is 30.1%

Top 20 HWCUs increase in research expenditure from 2011 is 11.6%

Source: National Science Foundation

The HBCUpreneur Corner – North Carolina A&T’s Asaad Thorne & Urban Argyle, LLC

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Name: Mr. Asaad Thorne

Alma Mater: North Carolina A&T State University

Business Name & Description: Urban Argyle, LLC. We use clothing as a innovative means to create socially conscious statements.

What year did you found your company? January of 2009

What was the most exciting and/or fearful moment during your HBCUpreneur career? The most exciting moments were my first time launching a blog and online store. Oh, and also seeing something I created on national television. The most fearful moments come ironically when I get closer to my goals. It’s scary sometimes when you’re about to get something you’ve been working for.

What made you want to start your own company? I wanted to start my own company because I wanted to create and develop something that was at one time just completely an idea. The fact that something as small as a thought can undoubtedly become a reality (no matter what) is crazy to me. To me, entrepreneurship is truly the strongest way to create anything there is you’d like to create.

Who was the most influential person/people for you during your time in college? The most influential people to me was a close friend who was also SGA President at the time who consistently broke barriers. Terrence J is a huge inspiration to me because our backgrounds are similar with high school, college, and NCA&T SGA. Lastly would be my two very close friends Adrianne Stevens (pictured below) and Alexandria Pierce. During a hard time they let me live with them and monopolize their laptops to actually create my business. They believed in me when I didn’t believe in myself and were the reason I could start a business eventhough I was a homeless student with no internet. They were murdered two years ago but I always make it a point when I feel tired or lazy to honor the faith they had in me.

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How do you handle complex problems? The worst thing you can do is shut down. I start with reminding myself that this situation is going to be here whether I choose to deal with it now or later. Then if it’s really bad I consider the worst way it could potentially turn out and accept it. Then, I think of the best potential way it could turn out and make it my reality. Then it’s just a matter of breaking it down to simpler parts until it starts to make sense.

What is something you wish you had known prior to starting your company? I wish that I’d known that there is no secret formula to running a business. Every “best” business practice can be challenged and proven to be a “worst” business practice. I spent a lot of time looking for the “secret” to entrepreneurship but it’s nothing more than staying committed to a purpose until it’s sought through. There is no way possible to know exactly the twists, turns, and opportunities that come your way so it’s best to make a couple broad, short-term goals and many, many, many small and basic short term goals as you go along.

What do you believe HBCUs can do to spur more innovation and entrepreneurship while their students are in school either as undergraduate or graduate students? I believe that internships with alumni who are entrepreneurs would be genius. In the fashion industry, there are many unpaid interns who pay their dues as a means of respect to grow. If HBCUs could mirror this concept, alumni would have access to more resources in support and undergrads would get experience so both would grow. Experience is the only way to grow in entrepreneurship because it is more competitive than any other field.

How do you deal with rejection? I find another way. One of the first things you have to understand is that business is not a game and it’s not personal. It’s business. If you haven’t been rejected then you haven’t done anything. In fact entrepreneurship is all about finding a “way around the no’s”.

When you have down time how do you like to spend it? Trying to shut my brain down. It’s hard not to think or work on things sometimes but you also don’t want to burn out. It all depends on working styles. Sometimes I lock myself away for a little while, maybe a weekend and just work. But if I do I make sure to take a few days off after. Life would be great if I could spread my productivity a little more evenly but I haven’t mastered that yet.

What was your most memorable HBCU memory? I organized a commemorative march using clothing to fund raise for the International Civil Rights Museum in Greensboro, NC. Hundreds of people came and there was news coverage. That’s when I realized any idea is possible.

In leaving is there any advice you have for budding HBCUpreneurs? The best piece of advice I’ve been given by one of my mentors is to “Grow slowly”. Sometimes we want to do a million different things because we see the long term goal we want but growing extremely fast is almost always followed with falling completely fast. It takes time, dedication, and commitment to start to see lasting results. Think of it a seed planted. No matter if I water it 5 times a day or 50 times a day there’s still some growth that has to happen completely independent of my influence.

But most importantly, enjoy the small victories. Celebrate everything, it keeps the motivation going. Be able to say “Made a million dollars today!” with the same level of excitement as saying “Responded to an email! Woo!”

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Visit Urban Argyle’s flagship Proud Product at http://www.proudproduct.com or head straight to their store at http://proudhbcuproduct.bigcartel.com/  to see the latest offerings.

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African America’s January Unemployment Report – 13.8%

Overall Unemployment: 7.9% (7.8%)

African America Unemployment: 13.8% (14.0%)

Latino America Unemployment: 9.7% (9.6%)

European America Unemployment: 7.0% (6.9%)

Asian America Unemployment: 6.5% (6.6%)

Analysis: Unemployment remained virtually unchanged amongst all groups with no significant moves in either direction. African America’s unemployment leads the way with the largest decline among the four reported groups but not a drop of much substance. Asian America continues to lead the way with the lowest unemployment rate.

African American Male Unemployment: 13.4% (14.0%)

African American Female Unemployment: 12.3% (12.2%)

African American Teenage Unemployment: 37.8% (40.5%)

African American Male Participation: 67.8% (67.4%)

African American Female Participation: 62.7% (62.2%)

African American Teenage Participation: 27.5% (25.1%)

*Previous month in parentheses.

Analysis: African American teenage unemployment led the way with a significant drop. The teenagers also led in participation. A first in some time that this group in crisis has had its unemployment go down and participation go up meaning as they come into the labor pool they are actually finding jobs. African American men also can say the same as they too saw a drop in unemployment and rise in participation rate. African American women saw virtually no change in their unemployment rate but did a healthy uptick in participation rate.

Conclusion: One of the healthiest months in recent memory for African America’s employment situation. As a whole African America picked up 246 000 jobs and is the most employed it has been in the past 5 months. African American men led the way picking up 128 000 jobs. African American women picked up 62 000 jobs but seem to be stuck in an a band over the past 5 months seeing its employed numbers stay roughly about the same as it gains and loses jobs pretty evenly over the time period. An area of concern could start to rise given that African American families are most dependent on women’s income since they head the majority of households. The teenage group has recovered to where it was 4 months ago but still far short of its past 5 month high. Teenage employment continues to show crisis like signs with no real solution in sight. Overall, there is some momentary relief but as always laid upon a fragile foundation.

Source: Department of Labor