Monthly Archives: August 2016

The HBCU Money™ Weekly Market Watch


Our Money Matters /\ August 12, 2016

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) $7.15 (0.00% UNCH)

M&F Bancorp (MFBP) $3.02 (0.00% UNCH)

Broadway Financial Corporation (BYFC) $1.78 (1.11% DN)

Radio One (ROIA) $3.29 (2.95% DN)

African ETFs

Global X MSCI Nigeria (NGE) $4.43 (0.67% DN)

Market Vectors Africa (AFK) $21.16 (0.14% DN)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  285.79 (0.13% UP)

Botswana Stock Exchange (BSE)  9 597.26 (0.54% DN)

Ghana Stock Exchange (GSE)  1 807.71 (9.38% DN)*

Nairobi Stock Exchange (NSE)  143.86 (N/A)

Johannesburg Stock Exchange (JSE) 52 806.50 (0.93% UP)

International Stock Exchanges

New York Stock Exchange (NYSE) 10 812.30 (0.22% DN)

London Stock Exchange (LSE)  3 762.03 (0.13% UP)

Tokyo Stock Exchange (TOPIX)  1 323.22 (0.64% UP)

Commodities

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African America’s July Jobs Report – 8.4%


jobs

Overall Unemployment: 4.9% (4.9%)

African America Unemployment: 8.4% (8.6%)

Latino America Unemployment: 5.4% (5.8%)

European America Unemployment: 4.3% (4.4%)

Asian America Unemployment: 3.8% (3.5%)

Previous month in parentheses.

Analysis: Overall unemployment was unchanged. All groups except Asian America saw a decline in their unemployment rate, who saw a 30 basis point increase in their unemployment rate. Latino America led the way with the largest decrease of 40 basis points, followed by African America’s 20 basis points, and lastly, European America’s 10 basis points.

African American Male Unemployment: 8.2% (8.2%)

African American Female Unemployment: 7.3% (7.3%)

African American Teenage Unemployment: 25.7% (31.2%)

African American Male Participation: 67.7% (67.8%)

African American Female Participation: 61.0% (60.9%)

African American Teenage Participation: 27.7% (29.2%)

Analysis: African American men unemployment rate was unchanged, with 10 basis point decrease in their participation rate. African American women unemployment rate was also unchanged, but a 10 basis point increase in their participation rate. African American teenagers had an decrease of 550 basis points in their unemployment rate, but had a worrisome 150 basis point decrease in their participation rate.

CONCLUSION: The overall economy added 255 000 jobs in July. African America added only 31 000 jobs in July, a decline from June’s AAJR of 32 000. Again, two straight months of anemic jobs growth for African America after adding 122 000 jobs in May. However, these figures are in line with traditional jobs growth for African America, while May was an anomaly. If there is a current silver lining for African America, it is our banking industry. With an explosion in new deposits and demand for even more new deposits, African American owned banks and credit unions could see a need to increase employment to handle the new demand. That is the short term optimism, while the long term gain could be in new lending for African American small businesses.

African America currently needs 680 000 jobs to match America’s unemployment rate.

HBCU Money™ Business Book Feature – The Prize: The Epic Quest for Oil, Money & Power


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Amazon.com Review

Daniel Yergin’s first prize-winning book, Shattered Peace, was a history of the Cold War. Afterwards the young academic star joined the energy project of the Harvard Business School and wrote the best-seller Energy Future. Following on from there, The Prize, winner of the 1992 Pulitzer Prize for nonfiction, is a comprehensive history of one of the commodities that powers the world–oil. Founded in the 19th century, the oil industry began producing kerosene for lamps and progressed to gasoline. Huge personal fortunes arose from it, and whole nations sprung out of the power politics of the oil wells. Yergin’s fascinating account sweeps from early robber barons like John D. Rockefeller, to the oil crisis of the 1970s, through to the Gulf War.

From Publishers Weekly

Energy consultant Yergin limns oil’s central role in most of the wars and many international crises of the 20th century. “A timely, information-packed, authoritative history of the petroleum industry, tracing its ramifications, national and geopolitical, to the present day,” said PW. Photos. Author tour.
Copyright 1991 Reed Business Information, Inc.

From Library Journal

This book does not require recent events in the Persian Gulf to make it an essential addition for most public libraries as well as all college libraries. Written by one of the foremost U.S. authorities on energy, it is a major work in the field, replete with enough insight to satisfy the scholar and sufficient concern with the drama and colorful personalities in the history of oil to capture the interest of the general public. Though lengthy, the book never drags in developing its themes: the relationship of oil to the rise of modern capitalism; the intertwining relations between oil, politics, and international power; and the relationship between oil and society in what Yergin calls today’s age of “Hydrocarbon Man.” Parts of the story have been told as authoritatively before, e.g., in Irvine Anderson’s Aramco: The United States and Saudi Arabia ( LJ 7/81), but never in as comprehensive a fashion as here.
– Joseph R. Rudolph Jr., Towson State Univ., Md.
Copyright 1991 Reed Business Information, Inc.