Author Archives: hbcumoney

HBCU Money™ Histronomics: Martin Luther King, Jr’s Telegram To Betty Shabazz (Malcolm X’s Death)

Posted on January 20, 2014 | Leave a comment

Mrs. Malcolm X

Faith Temple Church

Harlem

New York, New York

FEB 26 1965

I was certainly saddened by the shocking and tragic assassination of your husband. While we did not always see eye to eye on methods to solve the race problem, I always had a deep affection for Malcolm and felt that he had the great ability to put his finger on the existence and root of the problem. He was an eloquent spokesman for his point of view and no one can honestly doubt that Malcolm had a great concern for the problems that we face as a race. While I know that this is a difficult hour for you, I am sure that God will give you the strength to endure. I will certainly be remembering you in my prayers and please know you have my deepest sympathy. Always consider me a friend and if I can do anything to ease the heavy load you are forced to carry at this time, please feel free to call on me.

Martin Luther King, Jr.

Leave a comment

Posted in Histronomics

Tagged betty shabazz, jr., malcolm x's assassination, martin luther king, telegram

HBCU Money™ Business Book Feature – The Billionaire’s Apprentice: The Rise of Indian-American Elite & Fall of Galleon Hedge Fund

Posted on January 19, 2014 | 1 comment

Just as WASPs, Irish-Catholics and Our Crowd Jews once made the ascent from immigrants to powerbrokers, it is now the Indian-American’s turn. Citigroup, PepsiCo and Mastercard are just a handful of the Fortune 500 companies led by a group known as the “Twice Blessed.” Yet little is known about how these Indian emigres (and children of emigres) rose through the ranks. Until now…

The collapse of the Galleon Group–a hedge fund that managed more than $7 billion in assets–from criminal charges of insider trading was a sensational case that pitted prosecutor Preet Bharara, himself the son of Indian immigrants, against the best and brightest of the South Asian business community. At the center of the case was self-described King of Kings, Galleon’s founder Raj Rajaratnam, a Sri-Lankan-born, Wharton-educated billionaire. But the most shocking allegation was that the éminence grise of Indian business, Rajat Gupta, was Rajaratnam’s accomplice and mole. If not for Gupta’s nose-to-the-grindstone rise to head up McKinsey & Co and a position on the Goldman Sachs board, men like Rajaratnam would have never made it to the top of America’s moneyed elite.

Author Anita Raghavan criss-crosses the globe from Wall Street boardrooms to Delhi’s Indian Institute of Technology as she uncovers the secrets of this subculture–an incredible tale of triumph, temptation and tragedy.

1 Comment

Posted in Books

Tagged anita raghavan, billionaire's apprentice, galleon hedge fund, indian-american

HBCU Money™ Dozen 1/13 – 1/17

Posted on January 19, 2014 | Leave a comment

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

Verizon Most Expensive, T-Mobile Cheapest – but What About Quality? l CIOonline trib.al/6Dzwqxq

Obama invokes history for context in surveillance reform speech l Computerworld ow.ly/sHDb2

10 IT Outsourcing Trends to Watch in 2014 l CIOonline trib.al/ihEnjNv

Surviving on the Foods & Water of Alaska’s Southern Shores” is back in stock. l Alaska Sea Grant eepurl.com/KwcnX

Using Cutting-Edge Science to Achieve NetZero Waste, Water and Energy l EPA Research ow.ly/sHDyS

The hottest Chinese Internet firms you’ve never heard of l Networkworld ow.ly/sHDLM

Federal Reserve, Central Banks, & Financial Departments

5 secrets to winning online property auctions l Housing Wire hwi.re/4kCsXT

Inflation decline may be due to cheaper durable goods and slower growth in the cost of services l St. Louis Fed bit.ly/JZACab

The costs of crime & violence to the #privatesector amount to significant losses in terms of GDP l World Bank wrld.bg/sGyty

Local economies in central states are seeing modest labor gains from a boom in natural gas production l KC Fed ow.ly/sHEcX

Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data l Richmond Fed bit.ly/1gWevMm

21 states routinely prepare formal debt affordability studies or similar analyses l Boston Fed ow.ly/sHEoe

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

Leave a comment

Posted in Finance & Tech Review

The HBCU Money™ Weekly Market Watch

Posted on January 17, 2014 | Leave a comment

Our Money Matters /\ January 17, 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) $6.16 (0.0o% UNCH)

M&F Bancorp (MFBP) $3.50 (0.00% UNCH)

Radio One (ROIA) $4.97 (1.84% UP)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM) 237.86 (0.71% UP)

Botswana Stock Exchange (BSE) 9 175.00 (0.07% UP)

Ghana Stock Exchange (GSE) 2 186.94 (1.95% UP)*

Nairobi Stock Exchange (NSE) 140.28 (N/A)

Johannesburg Stock Exchange (JSE) 46 675.88 (0.00% UNCH)

International Stock Exchanges

New York Stock Exchange (NYSE) 10 343.46 (0.32% DN)

London Stock Exchange (LSE) 3 655.91 (0.15% UP)

Tokyo Stock Exchange (TOPIX) 1 297.39 (0.23% UP)

Commodities

Leave a comment

Posted in Market Watch

Tagged african stock exchanges, citizens bancshares georgia, merchants and farmers, radio one

Currencies Of The African Diaspora – Cameroon

Posted on January 15, 2014 | Leave a comment

Because of its modest oil resources and favorable agricultural conditions, Cameroon has one of the best-endowed primary commodity economies in sub-Saharan Africa. Still, it faces many of the serious problems confronting other underdeveloped countries, such as stagnant per capita income, a relatively inequitable distribution of income, a top-heavy civil service, endemic corruption, and a generally unfavorable climate for business enterprise. Since 1990, the government has embarked on various IMF and World Bank programs designed to spur business investment, increase efficiency in agriculture, improve trade, and recapitalize the nation’s banks. The IMF is pressing for more reforms, including increased budget transparency, privatization, and poverty reduction programs. Subsidies for electricity, food, and fuel have strained the budget. Cameroon recently began several large infrastructure projects, including a deep sea port in Kribi, a natural gas powered electricity generating plant, and several hydroelectric dams. Cameroon must attract more investment to improve its inadequate infrastructure, but its business environment is a deterrent to foreign investment.