Monthly Archives: May 2014

The HBCU Money™ Weekly Market Watch


Our Money Matters /\ May 23, 2014

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) $8.91 (2.41% UP)

M&F Bancorp (MFBP) $4.85 (1.25% UP)

Radio One (ROIA) $4.10 (0.74% UP)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  232.31 (0.70% UP)

Botswana Stock Exchange (BSE)  9 047.48 (0.29% UP)

Ghana Stock Exchange (GSE)  2 243.70 (4.59% UP)*

Nairobi Stock Exchange (NSE)  149.80 (N/A)

Johannesburg Stock Exchange (JSE) 49 952.69 (0.12% UP)

International Stock Exchanges

New York Stock Exchange (NYSE) 10 681.87 (0.35% UP)

London Stock Exchange (LSE)  3 630.98 (0.01% DN)

Tokyo Stock Exchange (TOPIX)  1 180.44 (0.95% UP)

Commodities

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Can HBCUs Produce Billionaires?


By Jarrett Carter, Sr.

Ideas can be life-changing. Sometimes all you need to open the door is just one more good idea. – Jim Rohn

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Oprah Winfrey (pictured above) – The only African American billionaire & HBCU alum. Her most recent Forbes’ net worth is $2.9 billion. Who will be the next HBCU alumni to join her?

Colleges With The Most Billionaire Alum & Combined Wealth:

  • Harvard – 52; combined wealth of $205 billion
  • Pennsylvania – 28; combined wealth of $112 billion
  • Stanford – 27; combined wealth of $76 billion
  • New York – 17; combined wealth of $68 billion
  • Columbia – 15; combined wealth of $96 billion
  • M.I.T. – 15; combined wealth of $114 billion
  • Cornell – 14; combined wealth of $35 billion
  • Southern California – 14; combined wealth of $32 billion
  • Yale – 13; combined wealth of $77 billion
  • Cambridge – 11; combined wealth of $48 billion

Last year, Dillard University President Walter Kimbrough asked newly minted (allegedly) billionaire Dr. Dre about the missing love for historically Black colleges and universities following a sizable gift he made to the University of Southern California. The question was legitimate from most cultural angles – how does a Black man who made money making Black music for Black audiences boost the endowment of a predominantly white university?

But the question also demands a broader perspective on Black wealth and how it is created. Dr. Kimbrough’s argument was for the sake of Black wealth remaining in Black ecosystems of wealth creation. The center of those ecosystems, of course, is the Black college. But can the Black college serve as an economic engine powerful enough to create the next billionaire, or handful of billionaires?

On its surface, the answer would appear to be a resounding ‘no’. The HBCU was borne out of a white elitist obligation to make of former slaves and their descendants the teachers, preachers, and farmers that would serve as a generational of professional midwives to a humble, quiet existence amid the burgeoning industrial revolution. Along the way, HBCUs evolved into institutions where African-Americans would train to become physicians, engineers, combat heroes, scientists, lawyers, and pastors – all of the makings of a generation of emerging wealth for Black communities.

But as that generation was coming of age in industrial and financial independence, the nation again divided on the common problem of race, requiring the whole of its brain trust to dedicate mind and money to the cause of equity for all. At the end of the battle, desegregation was won. But the casualty of the battle was the cultural allegiances that birthed innovation and productivity for Black communities, and took the precious, dwindling commodity of racial pride out into predominantly white companies, neighborhoods, and values.

Today, the HBCU attracts but a portion of the best and the brightest from Black America; the rest remain lured by the false promises of diversity, equal opportunity, and post-racial societal ease. The training, nurturing, and programmatic development of the HBCUs falls on only a small segment of Black America’s collective and emerging intellectual capital. The youth are fractured, their networks are frayed and the genius that is unbridled innovation is capped by the promise of a six-figure job at a firm or company that, in rare cases, is owned by an African-American. To the last point, there are 5.7 million American firms with paid employees, but African Americans only own 1.9 percent of them.

The question is not if an HBCU can create a billionaire, but rather, can an HBCU create the network that helps to spawn billionaire potential? Facebook was founded, in part, by a group of friends at Harvard. Apple was founded by a group of college students. In fact, Silicon Valley was founded by Stanford University and originally known as Stanford Research Park. Other notable companies that have come out of colleges Google, Microsoft, Dell, and FedEx. Sam Walton and Jeff Bezos, titans of retail, were able to begin their careers thanks to sizable loans from family. The latter founded Amazon with a $300 000 loan from his parents.

Do HBCU students, families, and communities have the kind of commitment to pooling human and financial resources to cultivating substantial wealth? The answer is yes; but have HBCUs been built and marketed to serve as the incubators for this kind of thinking and development? Based upon current teaching, social and cultural structures on the Black college campus, the answer is no.

And that is something even Dr. Dre can’t cure.

HBCU Money™ Business Book Feature – The Richest Man In Babylon


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The Richest Man in Babylon : The Original Version, Restored and Revised
Travel back in time as George S. Clason takes you back to Babylon in his enlightening, insightful book on financial investment and fiscal success. The original version now restored and revised, this series of delightful short stories teaches economic tips and tools for financial success that have withstood the test of time and are applicable still today. Enjoy reading, and start saving today!

HBCU Money™ Dozen 5/12 – 5/16


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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

Development Kits Make it Easier for the Do-it-yourself Crowd l CIOonline http://trib.al/9l3YTY4

Has Germany Subsidized The World’s Now-Cheap Solar Power? l Clean Technica http://dlvr.it/5hPS1L

Rescue robots could help in next Turkey mine disaster l New Scientist http://ow.ly/wWyvB

WV HS freshman wins EPA Sustainability Award for green housing material designed for earthquake zones. l EPA http://go.usa.gov/8cN5

Conservation groups team up to save Africa’s biodiversity Eden from drillers l New Scientist http://ow.ly/wWznu

Solar Likely To Become Dominant Source Of Energy Globally By 2050, IEA Forecasts l Clean Technica http://dlvr.it/5hBq11

Federal Reserve, Central Banks, & Financial Departments

Use our personal finance flash cards to learn how to make smart financial decisions l Econ Lowdown http://bit.ly/QFA6kT

The Fed isn’t helping the economy with low interest rates l Housing Wire http://hwi.re/5hNzqD

Where is all that investor and all-cash action? l Housing Wire http://hwi.re/5hLcl6

“Rethinking the ‘Lender of Last Resort” l Richmond Fed http://ow.ly/wWAFH

What are the potential gains for U.S. trade from a Trans-Pacific Partnership deal? l NY Fed http://nyfed.org/TaMBGL

How does the Fed evaluate if bank M&A meet antitrust laws & bank competition policy? l Chicago Fed http://ow.ly/wWBt0

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 /\ May 16, 2014

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) $8.84 (0.23% DN)

M&F Bancorp (MFBP) $4.75 (0.00% UNCH)

Radio One (ROIA) $3.96 (0.50% DN)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  229.74 (0.29% UP)

Botswana Stock Exchange (BSE)  8 977.43 (0.01% UP)

Ghana Stock Exchange (GSE)  2 240.91 (4.46% UP)*

Nairobi Stock Exchange (NSE)  151.15 (N/A)

Johannesburg Stock Exchange (JSE) 49 159.77 (0.60% DN)

International Stock Exchanges

New York Stock Exchange (NYSE) 10 603.18 (0.33% UP)

London Stock Exchange (LSE)  3 637.91 (0.04% DN)

Tokyo Stock Exchange (TOPIX)  1 159.07 (1.63% DN)

Commodities

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