Monthly Archives: February 2015

The HBCU Money™ Weekly Market Watch

Our Money Matters /\ February 20, 2015

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


African American Publicly Traded Companies

Citizens Bancshares Georgia (CZBS) $8.75 (0.00% UNCH)

M&F Bancorp (MFBP) $4.54 (0.00% UNCH)

Radio One (ROIA) $3.02 (1.95% DN)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  257.80 (0.58% UP)

Botswana Stock Exchange (BSE)  9 600.20 (0.05% UP)

Ghana Stock Exchange (GSE)  2 158.40 (4.54% DN)*

Nairobi Stock Exchange (NSE)  175.65 (N/A)

Johannesburg Stock Exchange (JSE) 53 035.26 (0.38% UP)

International Stock Exchanges

New York Stock Exchange (NYSE) 11 068.77 (0.28% UP)

London Stock Exchange (LSE)  3 724.45 (0.38% UP)

Tokyo Stock Exchange (TOPIX)  1 500.33 (0.36% UNCH)


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Two African American Banks Fail To Begin 2015

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The African American banking system suffers major setbacks to begin the year. Highland Community Bank (press release below) which had assets of approximately $73.4 million 2013. The bank was founded November 09, 1970 in Chicago, Illinois. Over the past two years it witnessed double digit asset declines on its books.

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Also seeing its doors close is Capital City Bank & Trust Company in Atlanta, Georgia. Capitol City, was the ninth largest African American owned bank, with $291 million in assets or 5.7 percent of African American bank owned assets. The bank was only 20 years old, meaning it had seen explosive growth in its short time.

These two closures reduce the number of African American owned banks down to 23 ahead of the HBCU Money’s 2015 African American Bank Owned Directory release, and a combined loss of 7.2 percent of African American bank owned assets. For perspective in 1994, there were 54 African American owned banks.

For the FDIC’s Failed Bank List click here.

Unemployment Rate By HBCU State – December 2014

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ALABAMA –  5.7% (6.0%)

ARKANSAS – 5.7% (5.8%)

CALIFORNIA – 7.0% (7.2%)

DELAWARE – 5.4% (6.0%)


FLORIDA – 5.6% (5.8%)

GEORGIA – 6.9% (7.2%)

ILLINOIS – 6.2% (6.4%)

KENTUCKY – 5.7% (6.2%)

LOUISIANA – 6.7% (6.5%)

MARYLAND – 5.5% (5.6%)

MASSACHUSETTS – 5.5% (5.8%)

MICHIGAN – 6.3% (6.7%)

MISSISSIPPI – 7.2% (7.3%)

MISSOURI –  5.4% (5.6%)

NEW YORK – 5.8% (5.9%)

NORTH CAROLINA – 5.5% (5.8%)

OHIO – 4.8% (5.0%)

OKLAHOMA – 4.2% (4.4%)

PENNSYLVANIA – 4.8% (5.1%)

SOUTH CAROLINA – 6.5% (6.7%)

TENNESSEE – 6.5% (6.8%)

TEXAS – 4.6% (4.9%)

VIRGINIA – 4.8% (5.0%)

*Previous month in parentheses.

HBCU Money™ Business Book Feature – Castro, the Blacks, and Africa


Professor Carlos Moore, an Afro-Cuban of Barbadian and Jamaican origin gives an informed view of race relations in post-revolutionary Cuba. Though not the usual made-in-Miami anti-Castro harangue, Professor Moore is harsh on Castro’s ruling class and attempts to shatter many of the romanticized myths of the colour blind Revolution. In fact, Moore argues that the Revolutionary leaders already imbued with their own prejudices and racialist values applied them in their dealings with Afro-Cubans. Professor Moore writes that the Revolution made no allowances for negritude and that it was policy to decry all attempts at African awareness and preservation of African culture and values.
Interestingly, Professor Moore argues that Castro’s internationalist forays into Africa were self-serving. The writer perceives these as as attempts to placate the increasingly disaffected, disenchanted Afro Cubans and build third world solidarity to counterbalance isolation from the developed world. Of interest also are the appendices to Castro, The Blacks and Africa. Scholars of race and the sociology of the Caribbean and Latin America discuss race issues and ethnology in Latin America. These appendices serve to underscore Professor Moore’s premise that the Revolution did not attempt to solve the racial issues in Cuba.
Professor Carlos Moore’s work is well written, with interesting photographs and makes for good reading. It also serves as a useful reference text not only on the Cuban Revolution, but also on race relations in the Caribbean and Latin America.

HBCU Money™ Dozen 2/9 – 2/13


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.


Why Twitter just bought a social media talent agency l Macworld

Geoengineering Is No Replacement For Reducing Carbon Emissions l Clean Technica

Facebook lets users appoint an heir for their accounts l Computerworld

Water drives economies, welcomes visitors and our relationship with it is now changing l Argonne Lab

10 things you didn’t know about the synchrotron light source l Department of Energy

Monster hurricanes struck U.S. Northeast during prehistoric periods of ocean warming l NSF

Federal Reserve, Central Banks, & Financial Departments

Single-family rental securitizations are the “real deal” l Housing Wire

What drives people to evade #tax? Lessons from the #UK poll tax l World Economic Forum

Why online learning will fail l World Economic Forum

What makes a great CEO? l World Economic Forum

Study finds veterans’ labor force participation declined as the VA’s Disability Compensation program grew l NBER

Students who take #finlit courses are likely to have better credit l Council 4 Econ Ed

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