Monthly Archives: September 2013

HBCU Money™ Business Book Feature – Cigars, Whiskey and Winning: Leadership Lessons from General Ulysses S. Grant


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Long before leadership became identified as the catalyst for corporate success, the Civil War’s winning general was showing the world how dynamic leadership is the crucial determinant of victory or defeat.

Ulysses S. Grant never sought fame of glory, nor did he try to tie his performance to personal reward. Instead, he concentrated on contribution and service. He looked upon being given increased responsibility not as increasing his power, but as increasing his ability to get the job done. “The great thing about Grant…is his perfect correctness and persistency of purpose.” (Abraham Lincoln)

In this masterful retelling of Grant’s story, Al Kaltman draws on Grant’s writings and life experiences to present a series of practical lessons on how to get superior performance from the troops.

Going beyond mere “how-to’s”, Cigars, Whiskey & Winning deals with character traits, core beliefs, and fundamental values to reveal the secrets to becoming a winning leader that are as much about “who to be” as “what to do”. And there isn’t a chart, table, or checklist in sight-just a handy index of lessons for ready inspiration on demand.

HBCU Money™ Dozen Links 9/16 – 9/20


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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. We have made some changes here at HBCU Money™ Dozen. We are now solely focused on research and central bank articles from the previous week.

Research

Spacecraft army recruited from across the solar system gears up to watch rare sun-diving comet l New Scientist http://ow.ly/p3Sno

Our modelers are developing innovative methods to assess low-carbon technologies l EPA Research http://go.usa.gov/DEZJ

Research shows Triclosan may be causing antibacterial resistance in Chicago waters l IL-IN Sea Grant http://fb.me/2EPwago6E

Bike-sharing Programs Growing In US l Clean Technica http://dlvr.it/40cyQY

How did the exotic plasma of the early universe become ordinary matter? #supercomputing to the rescue l Brookhaven http://1.usa.gov/15bK1iP

Plug & Play Solar Power Systems Growing In Use In US, Thanks To SolarPod l Clean Technica http://dlvr.it/40bsP7

Federal Reserve, Central Banks, & Financial Departments

Are you a student/researcher working to develop local #dev solutions? Try Open Knowledge Repository l World Bank http://wrld.bg/p3wDz

Great Depression curriculum provides teachers with economic lessons l St. Louis Fed http://bit.ly/16feCyY

Get help learning about your 10th District state. Check out free project for elementary students l KC Fed http://ow.ly/p3UuX

Why aren’t there more women economists? l Richmond Fed http://ow.ly/p3Uza

Discover how investing in education and training is an important economic decision l St. Louis Fed http://bit.ly/169qQsK

Debt limit has nothing to do with new spending l Treasury Department http://ow.ly/p3Voc

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

The HBCU Money™ Weekly Market Watch


Our Money Matters /\ September 20, 2013

A weekly snapshot of African American owned public companies and HBCU Money™ tracked African stock exchanges.

NAME TICKER PRICE (GAIN/LOSS %)

African American Publicly Traded Companies

Citizens Bancshares Georgia (CZBS) $5.65 (0.00% UNCH)

Radio One (ROIA) $2.54 (3.79% DN)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  202.10 (0.10% DN)

Botswana Stock Exchange (BSE)  8 592.20 (0.01% DN)

Ghana Stock Exchange (GSE)  2 007.15 (67.30% UP)*

Nairobi Stock Exchange (NSE)  124.66 (N/A)

Johannesburg Stock Exchange (JSE) 44 094.31 (0.47% DN)

International Stock Exchanges

New York Stock Exchange (NYSE) 9 793.32 (0.63% DN)

London Stock Exchange (LSE)  3 508.99 (0.46% DN)

Tokyo Stock Exchange (TOPIX)  1 218.98 (0.29% UP)

Commodities

Gold 1 338.80 (2.24% DN)

Oil 105.57 (0.77% DN)

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

All quotes reported as of 12:00 PM Eastern Time Zone

The HBCU Endowment Feature – Elizabeth City State University


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School Name: Elizabeth City State University

Median Cost of Attendance: $18 786

Undergraduate Population: 2 760

Endowment Needed: $1 036 972 320

Analysis: Elizabeth City State University needs approximately a $1 billion endowment for all of its undergraduates to attend debt free. The university is located in the northeast part of North Carolina. In a state with an abundance of higher education institutions it can be extremely difficult to standout. It also does not help that ECSU is not on the HBCU “corridor” of I-85/I-95 going through the states of North Carolina and Virginia. The northeast part of North Carolina is a more isolated geography of the state. As in most cases like this there is a bit of the gift and the curse attached to such a reality. By being isolated it can have an intimate advantage in recruitment in the northeast part of North Carolina and very rural parts of southeastern Virginia. The disadvantage of course is beyond those areas it will have a difficult time not being in the HBCU corridor, and therefore will have a hard time getting students outside of its most intimate regions. A cause for concern given the drop in enrollment the school has seen lately. As noted with public university endowments, the size of the alumni base is a mixture of student body size and graduation rates. This formula plays an integral role in the health of the endowment. A declining student body size is a danger to the long term financial stability of a college’s endowment primarily because historically only 10-15 percent of alumni give back nationally. The number is even smaller among HBCUs. Currently, Elizabeth City State University is reported to have a $4.5 million endowment or equal to 0.45 percent of its needed endowment. A serious red flag for long-term stability which lends to some of the issues of the school’s current financial issues. The school has an opportunity to reduce itself down to a healthier size that could allow it could to obtain the financial health it needs to potentially grow at a more steadied pace. It also much find a way to infuse itself along the state’s coastline African American population. The real question is will that be enough. Ideally, ECSU needs to have a student body at least triple its current size if it wants to seriously expand its alumni base within the coming decade.  It is clear they are going to have to pick up the pace of their endowment and capital campaigning to survive tomorrow, otherwise we could be seeing some of the turmoil in Virginia spillover into North Carolina with Elizabeth City State University potentially being the first casualty.

As always it should be noted that endowments provide a myriad of subsidies to the university for everything from scholarship, faculty & administration salaries, research, and much more.

HBCU Money™ Business Book Feature – The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It


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What is wrong with today’s banking system? The past few years have shown that risks in banking can impose significant costs on the economy. Many claim, however, that a safer banking system would require sacrificing lending and economic growth. The Bankers’ New Clothes examines this claim and the narratives used by bankers, politicians, and regulators to rationalize the lack of reform, exposing them as invalid.

Admati and Hellwig argue we can have a safer and healthier banking system without sacrificing any of the benefits of the system, and at essentially no cost to society. They show that banks are as fragile as they are not because they must be, but because they want to be–and they get away with it. Whereas this situation benefits bankers, it distorts the economy and exposes the public to unnecessary risks. Weak regulation and ineffective enforcement allowed the buildup of risks that ushered in the financial crisis of 2007-2009. Much can be done to create a better system and prevent crises. Yet the lessons from the crisis have not been learned.

Admati and Hellwig seek to engage the broader public in the debate by cutting through the jargon of banking, clearing the fog of confusion, and presenting the issues in simple and accessible terms. The Bankers’ New Clothes calls for ambitious reform and outlines specific and highly beneficial steps that can be taken immediately.