Author Archives: hbcumoney

HBCU Money Business Book Feature – The March of Folly: From Troy to Vietnam

In The March of Folly, two-time Pulitzer Prize winning historian Barbara Tuchman tackles the pervasive presence of folly in governments through the ages. Defining folly as the pursuit by governments of policies contrary to their own interests, despite the availability of feasible alternatives, Tuchman details four decisive turning points in history that illustrate the very heights of folly in government: the Trojan War, the breakup of the Holy See provoked by the Renaissance popes, the loss of the American colonies by Britain’s George III, and the United States’ persistent folly in Vietnam. The March of Folly brings the people, places, and events of history magnificently alive for today’s reader.

The HBCU Money™ Weekly Market Watch

Our Money Matters /\ September 7, 2012

NAME TICKER PRICE (GAIN/LOSS %)

African American Publicly Traded Companies

Citizens Bancshares Georgia (CZBS) $3.70 (UNCH)

Carver Bank New York (CARV) $3.65 (7.12% DN)

Radio One (ROIA) $0.86 (UNCH)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  147.36 (0.55% UP)

Botswana Stock Exchange (BSE)  7 321.93 (0.03% UP)

Ghana Stock Exchange (GSE)  1 035.97 (N/A)

Nairobi Stock Exchange (NSE)  85.90 (N/A)

Johannesburg Stock Exchange (JSE) 35 744.25 (N/A)

International Stock Exchanges

New York Stock Exchange (NYSE) 8 234.51 (0.91% UP)

London Stock Exchange (LSE)  3 023.99 (0.43% UP)

Tokyo Stock Exchange (TOPIX)  735.17 (2.25% UP)

Commodities

Gold 1 74972.50 (2.05% UP)

Oil 96.42 (0.93% UP)

*All quotes reported as of 8:00 PM Eastern Time Zone

The HBCU Endowment Feature – Hampton University

School Name: Hampton University

Median Cost of Attendance: $29 074

Undergraduate Population: 4 361

Endowment Needed: $2 535 834 240

Analysis: The university currently needs $2.5 billion for all of its students to attend debt free annually. Hampton’s endowment is the 3rd largest among HBCUs, 244th in the nation, and one of only five to grace the rare air of the HBCU $100 million endowment club. Hampton’s leadership has maintained an aggressive approach to its endowment which has allowed an immense growth over the years and puts it in prime position to challenge Howard and Spelman in the race to become the first billion dollar HBCU endowment. Last year the endowment underperformed with a 12.8% return against the national average of 17.8% and median of 20.0% but expect to see this group come back in a strong way. Expected economic headwinds withstanding in 2013 the university will continue to be an endowment leader among HBCUs because of its forward thinking in deploying capital.

As always it should be noted that endowments provide a myriad of subsidies to the university for everything from scholarship, faculty & administration salaries, research, and much more.

HBCU Money™ Business Book Feature – The Assassination of Lumumba

In January 1961, seven months after Congo won independence from Belgium, the country’s first elected head of state, Patrice Lumumba, was killed because of fears that he would nationalize Belgian corporate interests in Congo.

Patrice Lumumba, the first prime minister of the Republic of the Congo and a pioneer of African Unity, was assassinated on 17 January 1961. His crime had been to defy the Belgian Government which sought to maintain a covert imperialist hand over the country even after independence was finally won in June 1960. Ludo De Witte reveals the appalling mass of lies that have surrounded the murder. Making use of official sources and government testimony, he uncovers a network of complicity spreading from the Belgian government to the United Nations and the CIA. This book, already translated into four languages, prompted the Belgian parliament to establish an official commission of inquiry into Lumumba’s assassination. In his afterword to this new edition De Witte discusses its findings.

HBCU Money™ B-School: Intergenerational Equity

Refers to the concept that tomorrow’s students (as well as faculty and programs supported by the endowment) should benefit from the endowment to the same degree that today’s students do. In essence, this means that an endowment’s value to today’s generation is the same as the inflation-adjusted value for future generations.

Source: NACUBO