Monthly Archives: August 2014

Less Than 1 In 4 HBCU Business School Deans & Chairs Hold HBCU Degree


The most difficult thing in life is to know yourself. — Thales

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Pictured Above: Virginia State University’s Reginald F. Lewis School of Business

In the 1940s, Kenneth and Mamie Clark conducted the legendary doll test. This husband and wife psychologist team put before young African American kids two dolls. One doll was African American and the other European American, then asked the kids which doll they preferred. The children identified the European American doll as the good doll and the African American as the bad doll. A sign that as a community we lacked enough mediums to show our children healthy images of beauty and value within themselves. Carter G. Woodson, famously talks about the African Americans distrust of African American owned banks and doctors due to us believing that we mentally were not capable of achieving such feats. However, when you have an opportunity and a medium to counter such a belief, is there an effort made to ensure it is used, developed, and promoted? If we are to promote HBCU students becoming tomorrow’s HBCU faculty, deans, and presidents, then do we not need to show them that it is not only possible, but wanted?

An internal survey by HBCU Money showed that apparently HBCUs do not believe much in the pipeline they have produced over the years. Our survey showed that only 23 percent of HBCU business school deans and chairs have a degree of any sort from an HBCU. Even further, it showed that only 67 percent of HBCU business school deans and chairs are of African descent. It is saying to our students do not look to your own institutions as an opportunity because we do not believe you are qualified even though we trained you to run our institutions. It also continues to say that we do not understand the purpose of our institutions looking out for our interest. How many understand that HBCU business schools should be tackling the African American unemployment problem? Or the wealth gap due to lack of ownership for African America? Why is it important for African American businesses to bank with African American banks and connect to the overall African Diaspora ecosystem? They run these business schools as if they were just another college. In comparison, a look at Ivy League business schools, excluding Brown and Princeton who do not have business schools, and including some of the premier business schools like Berkley, University of Chicago, Duke, Rice, and Stanford the story is the exact opposite of ours. Of the eleven schools none had a dean of African descent and 9 out of 11 had a degree from one of the 11 schools. That is circulation of intellectual capital. That is truly believing in the product you are producing.

This speaks to a need to increase interconnection between HBCU undergraduate and graduate schools. It is clear we need more Morehouse College and Spelman College graduates making their way into the graduate schools of the likes of Southern University and North Carolina Central University. There is a unique opportunity for HBCUs to teach African Americans how to operate African American institutions and enterprises with a curriculum designed around the specific experiences that we encounter. However, this opportunity is missed as school’s like Johnson C. Smith University are too busy trying to reshape themselves into a “diverse” HBCU. A diversity that is not defined by an increase of African Diaspora citizens from around the world, but instead a diverse definition mimicked by HWCU/PWIs that brain drain the most talented from other communities meanwhile not relinquishing any of the actual power. We on the other hand will give up the entire farm to make others feel included. The group with the least resources shares the most.

It would strongly behoove HBCUs not only in the business schools, but overall to create a program for alumni called Future HBCU Faculty/Leadership  of Tomorrow programs. This would allow for students to get a first hand feel for shadowing a professor, chair, or dean for a day. The HBCU Faculty Development Network could play a large role in facilitating the implementation of such a program on HBCU campuses. If HBCUs claim they can not find qualified HBCU graduates to head up their business schools or can not find professors with HBCU backgrounds, then that means they have not done a good job of developing them. I assume that is not a notion they want to admit to themselves, but one that will continue to cost HBCUs in the long-term dearly.

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HBCU Money™ Business Book Feature – Space Chronicles: Facing the Ultimate Frontier


 

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“A compelling appeal, at just the right time, for continuing to look up.”—Air & Space

America’s space program is at a turning point. After decades of global primacy, NASA has ended the space-shuttle program, cutting off its access to space. No astronauts will be launched in an American craft, from American soil, until the 2020s, and NASA may soon find itself eclipsed by other countries’ space programs.

With his signature wit and thought-provoking insights, Neil deGrasse Tyson—one of our foremost thinkers on all things space—illuminates the past, present, and future of space exploration and brilliantly reminds us why NASA matters now as much as ever. As Tyson reveals, exploring the space frontier can profoundly enrich many aspects of our daily lives, from education systems and the economy to national security and morale. For America to maintain its status as a global leader and a technological innovator, he explains, we must regain our enthusiasm and curiosity about what lies beyond our world.

Provocative, humorous, and wonderfully readable, Space Chronicles represents the best of Tyson’s recent commentary, including a must-read prologue on NASA and partisan politics. Reflecting on topics that range from scientific literacy to space-travel missteps, Tyson gives us an urgent, clear-eyed, and ultimately inspiring vision for the future.

HBCU Money™ Dozen 8/18 – 8/22


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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

Does Microsoft Really Love Open Source? l CIOonline http://trib.al/SQHol3j

Differences between grasses and legumes as forages for horses l KY Equine Research http://ow.ly/AAngj

Preventative action can protect downstream ecosystems in watersheds facing development l EPA Research http://go.usa.gov/EzFB

Online Solar Investing, India’s #1 Solar Provider l Clean Technica http://dlvr.it/6gxp2v

Journey to the Center of Jupiter: The World’s Largest Lasers l Livermore Lab http://bit.ly/1nePC0z

Learn more about our air science (including air toxics) l EPA Research http://go.usa.gov/mc99

Federal Reserve, Central Banks, & Financial Departments

Credit restriction pendulum has swung too far l Housing Wire http://hwi.re/6h1Hrk

myRA will offer additional retirement savings options for workers l Treasury Department http://www.myra.treasury.gov/

Are San Francisco’s Low-Income Residents Moving Up or Moving Out? l San Francisco Fed http://ow.ly/AA5Rm

Labor force participation rate may be poised for a rebound l Boston Fed http://ow.ly/AAj7Y

Why doesn’t the U.S. return to the gold standard? l St. Louis Fed http://bit.ly/1pPx4as

Why is it so important to teach your children patience? l World Economic Forum http://wef.ch/1v1f5CB

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 /\ August 22, 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) $8.60 (0.00% UNCH)

M&F Bancorp (MFBP) $5.15 (0.19% DN)

Radio One (ROIA) $3.00 (0.67% UP)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  247.21 (0.61% UP)

Botswana Stock Exchange (BSE)  9 400.96 (0.03% UP)

Ghana Stock Exchange (GSE)  2 211.26 (3.08% UP)*

Nairobi Stock Exchange (NSE)  156.43 (N/A)

Johannesburg Stock Exchange (JSE) 51 197.16 (0.48% DN)

International Stock Exchanges

New York Stock Exchange (NYSE) 10 946.45 (0.33% DN)

London Stock Exchange (LSE)  3 619.38 (0.01% UP)

Tokyo Stock Exchange (TOPIX)  1 286.07 (0.40% DN)

Commodities

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HBCU Money™ Business Book Feature – Capital: The Story of Long-Term Investment Excellence


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Go inside the elite investment firm with Capital.

The Capital Group is one of the world’s largest investment management organizations, but little is known about it because the company has shunned any type of publicity. This compelling book, for the first time, takes you inside one of the most elite and private investment firms out there?the Capital Group Companies?a value investment firm par excellence. It digs deeps to reveal the corporate culture and long-term investment strategies that have made Capital the one organization where most investment professionals would like to work and would most recommend as long-term investment managers for their family and friends.