Category Archives: Business

DRONES – The Answer To The United States Postal Service Problems?

Posted on December 11, 2013 by | Leave a comment

There is no more dreadful punishment than futile and hopeless labor. – Albert Camus

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Amazon decided that it needed to not only dominate retail for the weekend after Thanksgiving, but it needed to dominate headlines as well. The $180 billion dollar company announced that in a few years it will start delivering customer packages via Amazon drones. No, the NSA and CIA have not taken over Jeff Bezos body. The coming of drones for commercial use has been a badly kept secret for a few years now, but it appears Amazon has emerged as the company who will bring it to the mainstream. If you were wondering when the Jetsons era was going to be upon us. It is here. Drones could will change transportation in the way email changed communication. The latter has almost brought the United States Postal Service to its knees, and the former could become its saving grace.

The United States Postal Service deficit is hemorrhaging something akin to a dam that has been hit by a missile. Last year, it registered a $16 billion deficit. The situation is parallel to that of the automakers a few years ago. Only, there will be no bailout coming. UPS, FedEx, pensions, and technology have presented the USPS with unfathomable challenges and I suspect in less than a decade will be a case study for some fresh face MBA student as I was once upon a time. The latter two, pensions and technology, being their primary problem or at least within their control. USPS is currently required to prefund future retirement benefits based on current and past employees to an annual tune of $6 billion dollars or almost 40 percent of its annual deficit. This is to ensure the pension benefits of current and past postal employees, pension obligations which are currently underfunded, will eventually be able to meet its fiscal obligations to retirees. There is also the matter of Saturday delivery, which cost the USPS $2 billion in losses annually. Something the Postmaster General argued to cut, but was met with such opposition he gave up on the matter. Although, expect me to argue for it again later in this article.

It could be argued with some irony that the zenith of the USPS in terms of labor was in 1999 with its almost 800 000 postal employees, the largest number ever in its history, coincided with the birth of the internet into the mainstream. Today, the number of employees has fallen over 25 percent, but is still twice the size of UPS and FedEx in terms of labor. Patrick Donahoe, the Postmaster General, had plans to reduce the workforce in line with UPS and FedEx, but it could be argued that it simply might not be enough. Primarily, there is the advantage of UPS/FedEx not having to deliver daily mail. Something that could make it difficult for USPS to ever match UPS/FedEx numbers. Unless, there is a way to deliver the daily mail without actual mail carriers. Enter the drone.

In Amazon’s world, drones would leave their distribution centers and deliver packages within a 30 minute window after purchase to the customer. Similarly, the United States Postal Service could use its postal centers as distribution centers as it already does and the field office for its drone flights. First, the drone helps you reduce the mail carrier labor force of 240 000 mail carriers or 41 percent of the USPS entire labor force and their salary, which ranges between $40,470 to $56,720, down to an almost negligible size keeping only large package truck drivers comparable to UPS/FedEx. Assuming the median salary range ($48,595), it would represent a cut of almost $11.7 billion in labor cost from the USPS books without a loss in production. If the USPS was even more aggressive (assuming no legal stipulations) it could contract out the pilot program for the drones and eliminate pension liability all together for this new part of its labor force, but let us not get ahead of ourselves here. Secondly, it would allow a massive reduction in the USPS 212 530 fleet of vehicles, one of the largest civilian fleets in the world. Forget going electric or natural gas, with drones you can just get rid of them period. According to the Federal Times in 2009, USPS spent $524 million in maintenance cost and $1.7 billion in 2010 for fuel cost. Another $2.2 billion off the books and bringing the total savings to $13.9 billion or almost 87 percent of the annual deficit. Just from the use of drones to deliver the daily mail.

Obviously, there are still some hurdles with the USPS even with the implementation of drones. For one, the FAA would have to approve it, which I believe the USPS would have an easier time pushing through than Amazon if they use the government agency to government agency buddy system. The next step would be to certainly to continue to reduce the workforce although the unions will probably have a lot to say about that in (my) theory and reality. Even with an elimination of the mail carrier force they would still be employing almost 350 000 people, which is still over 100 000 more than FedEx/UPS. Arguably, this number could be held if congress would agree to eliminate the Saturday delivery which again according to the Postmaster General would add an additional $2 billion in savings. In turn, it would bring the total savings via cuts and technology implementation to $16 billion, completely eliminating the deficit. It was technology that brought the postal service to its knees and it could very well be technology that helps the phoenix rise from the ashes.

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The HBCUpreneur Corner – Prairie View A&M and Florida A&M’s Misha Granado & Love Grows

Posted on December 10, 2013 by | 1 comment

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Name: Misha N. Granado, MPH,MS

Alma Mater: Prairie View A&M University (1998), Florida A&M University (2004/2007)

Business Name & Description: Love Grows: The Relationship Consultants is a boutique firm specializing in improving all relationships, beginning with the relationship one has with self. We use a strength-based, love centered approach and offer services: Bringing Love into Existence (counseling, interactive workshops), Speaking Love into Existence (lectures) and Writing Love into Existence (books & editorials) to help our clients heal their emotional wounds in order to experience an amazing life and relationships.

What year did you found your company? 2010

What was the most exciting and/or fearful moment during your HBCUpreneur career? Love Grows is more than a business, it is a lifestyle, my purpose and life work therefore the opportunity to make a sustainable living and life doing what I love, which is to grow love is absolutely amazing. Love is one of the most sustainable, renewable resources we have and unfortunately many people are not maximizing their potential because of the various blocks (unhealed emotional wounds) that prohibit the movement of love through their life. Love Grows is doing our part to help people heal their emotional wounds in order to love self fully and others better; and in that way we are an environmental company as well, making the world a better place one relationship at a time.

In my life and as an entrepreneur, I learned quite quickly that there is no room for fear which affects my vision and critical thinking because valuable time and energy is spent thinking about the worst case scenario instead of possible solutions. Although unexpected situations may occur, I now choose to view them as opportunities to be creative, to find the most optimal solution to this new challenge. A ‘challenging situation’ presented itself during the late summer when I received word that the building where I had my office had been sold (I did not know it was on the market) and myself (along with the other tenants) had to find a new space. I had only been in the office for 5 months and had invested a great amount of resources to convert the space (wood floors, painted, new fixtures, etc.). I had acquired new clients and now needed to find a new space that was inside the loop, artsy, offered 24/7 access and had beautiful energy (yes, energy is very important to my business).

Although Houston is a large city, it is somewhat challenging to locate a ‘non-traditional’ office space inside the loop that is artsy and would allow me to renovate the space to my specifications all under $1000 and this was the challenge, to locate such a space without disrupting my clients. Since I no longer operate from fear, I was able to view this as a challenge and began to explore various ‘non-traditional’ spaces to determine if any of them would work for Love Grows. During this exploration time, I also contacted the property manager at a beautiful location that was significantly out of my budget when I inquired earlier this year. Well I was in luck, this magnificent space had expanded and the new space also carried a lower price tag than the original space and Love Grows had a new home. If I would have operated in fear, I would not have thought to contact the property manager and I may have made compromises to what I wanted and needed from a space.

What made you want to start your own company? Prior to beginning Love Grows, I had 10 years counseling experience which included an adjunct professorship. I implemented a ’10 minute freestyle session’ in my Introduction to Psychology class, which provided the students with the opportunity to discuss current events or any other topic of interest. This was implemented as a way to unite the diverse student body that ranged from freshman to seniors. Trust and rapport was quickly established and these 10 minute sessions, quickly turned into a ‘therapy session’ of sorts. My students revealed all type of experiences and it became evident that these young people did not have a healthy outlet to process their feelings and when given the opportunity all they wanted (and needed to do) was get it all out. This was a class that swelled to 150 students (some of whom were not registered) who showed up every session because we were able to create a safe space to grow. After the course, many students inquired if I had a book or if I was available for individual therapy sessions. This is when I knew I had a gift, the ability to establish and nurture relationships in which people felt safe to share. Life is comprised of relationships, and the relationship one has with self, determines and influences all the relationships in one’s life. Through years of professional and personal experience, I knew that the key to improving the relationships in our lives is to improve the relationship we have with self. In the summer of 2010, I established Love Grows: The Relationship Consultants with the purpose of helping others heal their emotional wounds in order to love self and others better, which would ultimately improve their relationships.

Who was the most influential person/people for you during your time in college? At Prairie View A&M University, Drs. Janet Beal and Kevin Washington and at Florida A&M Unviersity Drs. Huberta Jackson-Lowman and Cynthia Warrick.

How do you handle complex problems? As a creative being, my complex problems require open space, I literally have to get out of the building and step into nature. I take my shoes off and wiggle my toes in the grass. It is here under the blue skies, breathing natural air and the absence of gadgets (yes, I take a notebook and pen with me on these journeys) where I begin to view the situation from all angles. I identify the resources I have access to and the ones I need to obtain. I create a plan and the steps needed to execute.

What is something you wish you had known prior to starting your company? More information about the funding available to entrepreneurs.

What do you believe HBCUs can do to spur more innovation and entrepreneurship while their students are in school either as undergraduate or graduate students? Allow more critical thinking in the classroom. Unfortunately, I think many programs are focused on teaching information and the students who have great memories are the ones who usually perform the best, repeating the information; however, I think the true key to learning is to provide a concept and allow students to build around or from it. To partner with entrepreneurs and establish a mentorship program where students have direct access to people who are actually built and are living their dream. There are infinite ways to achieve success and success varies for everyone. The opportunity to have a mentor who truly invests in his/her mentee is priceless.

How do you deal with rejection? I know I sound like I am the one repeating information now *lol* but my answer remains the same, perception. I view rejection from one as the clearing of space for another.

When you have down time how do you like to spend it? I adore art and beauty and like to spend my time engaging in both. I recently began painting (acrylic) and actually completed my first painting Dec. 1 (a great way to begin the month). I also adore traveling, especially internationally and being that relationships are my life, spending time with vintage (established) and new friends and loved ones.

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What was your most memorable HBCU memory? Oh wow, it has to be from my undergraduate years at PV, spending time with the ‘Cali homies’, the shenanigans that took place on the yard, the parties and the simple life we had back then which consisted of class, friends and beginning the journey of discovering who we were and who we were meant to become.

In leaving is there any advice you have for budding HBCUpreneurs?

  1. Do not be afraid to have astronomical dreams!
  2. Get a mentor, but do not ‘rewrite’ your dream to mirror another’s so much that it is no longer your own.
  3. Shift your perspective (unless you are a trust fund baby *lol*), becoming an entrepreneur will require you to redirect your discretionary funds into your business.
  4. Learn to delay your gratification, you may not be able to go to Miami for Memorial Day Weekend with your friends, but you can redirect those funds into revamping your website, purchasing other materials/equipment/etc. for the business, paying the office rent for a few months or investing in yourself by taking a course, attending a retreat, etc.
  5. An entrepreneur lives a very different life than the individual working for someone else because the entrepreneur has very different goals and aspirations. Your life and the investment of your time, energy and resources should reflect these differences.

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Twitter’s IPO – African America Creates Billionaires, Just Not Themselves

Posted on November 7, 2013 by | Leave a comment

To be thrown upon one’s own resources, is to be cast in the very lap of fortune. – Benjamin Franklin

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At this very moment, I am watching the Twitter IPO and there is money flowing into the streets. The company’s initial IPO price was set to be $15-17, then rose to $25-27 on the eve of its IPO, and upon its actual first trade opened at $45.10. Seventy million shares just went from a value of $1 billion to over $2 billion. Evan Williams, co-founder and largest shareholder, just saw his net worth climb by $2.5 billion. Goldman Sachs, the lead investment bank for Twitter’s IPO, is set to take home almost $30 million of the $60 million in fees this IPO generated. The New York Stock Exchange lands a coup for pulling a major tech IPO from under NASDAQ’s nose after their Facebook debacle. What is not in any of that money? African America. Well, sort of.

African America’s presence is in Twitter from the place it typically is – as a consumer. While African Americans account for 13 percent of the United States population, we account for 22 percent of Twitter users. In terms of daily usage, we account for 11 percent, while European Americans usage is 4 times less than that. To say we have a dominant presence on Twitter would be something of an understatement. If African Americans left Twitter in mass, investors would be clamoring for bomb shelters as the stock would probably fall a part. So why are we not present where it matters most? Do we even know where it matters most?

When it comes to the capital markets picture of Twitter, we are completely absent. There were no African American underwriters present on the company’s S-1 filing. Again, part of that $60 million dollar pie in fees. In terms of early money or venture capital, there were no African Americans with significant investment in the company. Although, it is at least rumored that P. Diddy at one point tried to buy the company. Commendable on one hand and laughable on the other given his financial worth. By the time this company would have even been on Diddy’s radar it was already being valued at upwards of $1 billion – twice his net worth. As Chris Rock often reminds us there is a difference between rich and wealthy.

Sadly, this IPO highlights an all too often reality in African America’s economic behavior. We often are the suppliers of the content, but rarely if ever control the mediums of distribution. We often consume the product, but rarely are we the finance or investment behind its creation. Much of what I am saying here is repeated old hat, but it is worth repeating over and over again until the mindset and behavior indicates some movement of change. These are just some things to ponder the next time you are sending out your next 140 characters.

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The Most Powerful Women in African American Owned Banks

Posted on October 16, 2013 by | 2 comments

The true worth of a race must be measured by the character of its womanhood. – Mary McLeod Bethune

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African American owned banks might be on the decline, down to 21 from 54 over the past 20 years, but the ranks of African American women in positions of power continues to rise. Our list includes 3 CEOs, 1 President, 2 CFOs, 13 Vice-Presidents, and 7 board of directors. A sign that the playing field for African American women within African American organizations is much friendlier than their counterparts. African American women comprise almost 15 percent of African American owned banks CEO positions, while European American women make up only 5 percent of European America’s top 20 banks.

We have done our best to find out just who are some of the amazing African American women serving as executives and directors at African American owned banks around the country. Some banks do not have their management or board of directors listed so we are sure we missed some, but for now here is who we found and some of their stories.

Broadway Federal Bank

Mildred Cayton is the Controller for Broadway Federal Bank, making her the number two in charge at the California-based bank.

Commonwealth National Bank

Jacquitta Powell Green is the Vice President of Northside Exchange. She has served on the boards of Volunteer Mobile, the National Check Cashier Association, the City of Prichard Chamber, Leadership Mobile and as the Nominations Chair of Delta Sigma Theta, Inc. and Services to Youth Chair/Greater Mobile Chapter of the LJNKS, Inc. Jacquitta Powell Green is a graduate of Alabama A & M University and Springhill College.

Citizens Trust Bank

Cynthia N. Day, President and CEO (pictured above) – assumed the presidency of the Company and Citizens Trust Bank on February 27, 2012. Day joined Citizens Trust Bank in February 2003 as Executive Vice President of Management Services after the Bank acquired Citizens Federal Savings Bank of Birmingham, where she served as the Executive Vice President & Chief Operating Officer and in other capacities since 1993. Two years after the acquisition, she became the Senior Executive Vice President & COO of the Company and the Bank. Prior to becoming a banker, Ms. Day, who is a certified public accountant, worked for KMPG as an audit manager, managing audit engagements for companies across several different industries including banking, insurance, manufacturing and educational institutions. Ms. Day has been recognized for her leadership and mentorship in various community and professional organizations including being named one of “Atlanta’s Top 100 Black Women of Influence” by the Atlanta Business League and one of Atlanta Tribune’s “Wonder Women”. She currently serves on the board of The National Banker’s Association and Aarons, Inc. She is also a member or has actively served in various organizations such as the Georgia Society of CPAs, The University of Alabama Continuing Education Advisory Board, the American Liver Foundation and Alpha Kappa Alpha Sorority Inc. Ms. Day’s insight into the day-to-day operations of the Bank and her expertise in the banking industry adds value to the board and qualifies her to serve as a director.

Mercy P. Owens, began her service as a director in 2004.  Ms. Owens retired as Senior Vice President of Wachovia Bank with more than 30 years of banking experience, primarily in the area of compliance.  Ms. Owens is the President of Resource Consulting, which has been engaged by Fortune 500 companies, small businesses, and non-profit organizations to provide training and development for her constituents.  She serves on the St. Augustine’s College Falcon Foundation Board and Emory Hospital Winship Cancer Center Advisory Board.  We believe Ms. Owens’ previous years of banking experience are very valuable to the board and qualify her to serve as a director.

Industrial Bank

Patricia A. Mitchell, EVP, Retail and Sales Operation, is also a member of the board of directors. For Ms. Mitchell, Industrial Bank is more than a job, it is a legacy. She is the granddaughter of the bank’s founder and had fate not had its hand she would have never entered the family business. Luckily, she did and the rest has been history.

Massie S. Fleming has been a Director of IBW Financial Corp., since 1985. Mrs. Fleming retired at the end of 1997 from her position as Executive Vice President of the Industrial Bank, N.A. Prior to that date, she served in various executive and administrative positions at the bank since 1959, including as Chief Executive Officer from 1985 to mid 1997.

Pamela King has been a Director of IBW Financial Corp., since June 2001. Ms. King serves as President of the accounting firm of King, King, and Associates. Ms. King was one of the first African-American women to serve on the Maryland Board that certifies CPA’s.

Liberty Bank

Rhonda M. McMillan, Senior Vice President & Chief Credit Officer, Ms. McMillan is responsible for credit administration, mortgage operations, Visa and risk management for Liberty. She has an MBA in Finance from Clark Atlanta University and a graduate degree in banking from Southern Methodist University’s Southwestern Graduate School of Banking. With over 15 years in banking and credit administration, Ms. McMillan has held numerous positions within the credit administration and risk management areas.

Mechanics  & Farmers Bank

Connie White serves as Vice Chairman of Mechanics and Farmers Bank. Ms. White has been a Director of Mechanics and Farmers Bank since 2002. She serves on the boards of the Durham County ABC Board and the NC Legislative Black Caucus Foundation. Ms. White has a total of 8 years of banking experience. Ms. White earned a Bachelors of Science Degree from Hampton University and a Masters in Business Administration from the University of Wisconsin-Madison.

Kim D. Saunders has been the CEO and President of M&F BanCorp. Inc. since 2007. Prior, she served as the Chief Executive Officer and President of Consolidated Bank & Trust Company. She also holds appointments as a Vice Chair of the Richmond Renaissance and member of the Virginia Fair Housing Board. A rich professional career as she has more than 20 years of commercial banking experience. She has been Director of M&F BanCorp. Inc. and Mechanics & Farmers Bank since 2009 and 2007 respectively. Ms. Saunders serves on the boards of the Greater Richmond Chamber of Commerce, the Virginia Biotech Research Park Corporation, Saint Catherine’s School, World Affairs Council (VA), and the Bon Secours Richmond Health System (Joint Hospitals). Ms. Saunders holds a Bachelor of Science Degree in Economics from the Wharton School of Finance and Commerce at the University of Pennsylvania and Honorary Doctorate in Humane Letters from Shaw University in 2007.

OneUnited Bank

Deloris Pettis-Donaldson serves as a director at OneUnitedBank. served as Director of Internal Audit at Harvard University and was instrumental in transforming the internal audit function into a risk management department. Ms. Pettis-Donaldson has extensive finance and internal audit experience. She served for four years as Group Audit Manager of North American, Latin American, and Caribbean operations at Digital Equipment Corp. She also helped to develop and implement a risk-based operating model. Before Digital, she served as Director of Internal Audit for Massachusetts Bay Transit Authority (MBTA). In addition to working at Digital and MBTA, she worked at BankBoston Corp., National Association of Securities Dealers and the accounting firm of Peat Marwick Mitchell. At BankBoston, she held a range of senior finance positions, including Manager of Regulatory Reporting and Manager of Internal Control. At Digital, she served on the Advisory Board for the Financial Development Program. She serves as Director of Harvard School of Public Health. She is a Certified Public Accountant and Certified Internal Auditor. She has an MBA from Tulane University’s Graduate School of Business Administration and a Bachelor’s degree in Political Science from the State University of New York, Buffalo.

Teri Williams serves as President and Chief Operating Officer of OneUnited Bank (formerly, Boston Bank of Commerce). Ms. Williams is responsible for implementation of OneUnited Bank’s strategic initiatives, as well as its day to day operations. She has 25 years of financial services experience from premier institutions such as Bank of America and American Express TRS Company, where Ms. Williams served as a youngest Vice President. She served as a Senior Vice President of OneUnited Bank. She serves as Director of OneUnited Bank. She served as a Director at Carver Bancorp Inc. since 2000. She has been Treasurer of Dimock Community Health Center for over 5 years and is its Vice Chairperson. Ms. Williams is involved in community projects, including Treasurer of UNICEF/New England and the Board of Overseers for WGBH (public tv). Ms. Williams has received numerous notations and awards for her contribution to urban communities including from the Urban League, NAACP and the National Black MBA Association. Ms. Williams holds an M.B.A. with honors from Harvard Graduate School of Business Administration and a B.A. with distinctions in Economics from Brown University.

Sherri Brewer is Senior Vice President, Chief Retail Officer of OneUnited Bank. She has been in the banking industry for 30 years.

Cecilia Isaac serves as Senior Vice President and Chief Lending Officer of OneUnited Bank. Ms. Isaac is responsible for OneUnited Bank’s lending operations including loan origination (sales and production), loan service and asset management. Ms. Isaac has over 30 years of banking experience – beginning with Security Pacific and including First Interstate Bancorp and Bank of California. Ms. Isaac has retail banking and extensive lending expertise in single family lending, commercial lending, commercial real estate lending, portfolio management, loan work out, mortgage sales and credit administration. Ms. Isaac holds a bachelor’s degree, a master’s in public administration and a certificate in tax administration from the University of Southern California.

Seaway Bank and Trust Company

Phyllis Davis serves as President of Phyllis Davis Real Estate. Phyllis Davis serves as Director of Seaway Bank And Trust Company.

Gail L. Bahar, Vice President/Human Resources Officer

Lois B. Jenkins, Vice President/Trust Officer

Claudette Harris, Vice President/Marketing Officer

Trina E. Phelps, Vice President/Internal Auditor/Loan Review Officer

Denise Weaver, Senior Vice President/Operations

Arlene Williams, Senior Executive Vice President/Lending

United Bank of Philadelphia

Marionette Y. Wilson joined the Board of Directors of United Bank of Philadelphia in  1992 as a founding director. She is now retired but was formerly the Co-Founder/Partner, John Frazier, Inc., Philadelphia, PA from 1981-2002.

Evelyn F. Smalls has been the President and Chief Executive Officer of the United Bank of Philadelphia since June of 2000.  Prior to this appointment, she was the Senior Vice President of Human Resources and Compliance.

Brenda M. Hudson-Nelson serves as United Bank of Philadelphia’s Executive Vice President and Chief Financial Officer. Mrs. Hudson-Nelson’s responsibilities include directing financial planning, financial reporting, implementing, managing the Bank’s investment portfolio, and managing the Bank’s sensitivity to interest rate risk.  Prior to joining United Bank of Philadelphia, Ms. Hudson-Nelson was an Audit Manager for Ernst & Young, a ”Big 6” accounting firm serving clients in the financial services industry.

Dimitria Davenport is an Assistant Vice President of Compliance and Administration. Ms. Davenport’s responsibilities are to ensure that the Bank adheres to all applicable consumer protection laws, and federal and state regulations. In her eighteen-year tenure in the financial services industry, she has held key roles within Human Resources, Training and Retail Administration.

Juliette L. Holmes is the Assistant Vice President of Retail Banking and Business Development. In this capacity, she is responsible for overseeing branch operations and business development for the Bank’s three branches. Ms. Holmes has many years of experience in retail banking and has coached and mentored branch personnel to provide exceptional customer service.

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42 Million African Americans Own Only 0.33 Percent Of America’s Lands

Posted on October 15, 2013 by | 1 comment

By William A. Foster, IV

A nation may be said to consist of its territory, its people and its laws. The territory is the only part which is of certain durability. Laws change, people die, the land remains. — Abraham Lincoln

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The Land Report recently released its annual 100 largest landowners in America. To no one’s surprise there was not one African American individual or family present on the list.  The apex of African American land ownership was over 100 years ago in 1910 when African America owned almost 20 million acres. A far cry from the 160 million acres that should have been owned had Special Order 15 been honored by the U.S. government which is also known as “40 acres and a mule” to most African Americans. By the numbers we have lost over 50 percent of our land ownership the past 100 years and the number continues to drop at an alarming rate for a myriad of reasons. Given that land is the foundation for all social, economic, and political development it could be argued that you can measure a group’s power based on their land ownership. This has been true no matter the economic system in place throughout history. If this is the case then African America is seeing itself getting weaker and weaker generation after generation.

The largest landowner in the country is John Malone, owner of Liberty Media and something few know is he was the second largest shareholder in Black Entertainment Television behind the founders Bob and Sheila Johnson. His initial investment in the company was $180 000 in equity and a $320 000 loan. Eventually, the loan would be paid back but he retained his equity stake, which by the time of the company’s sale would see him receive a return of $700 million. Yes, the man made $700 million on a $180 000 investment. Needless to say, that can buy you a lot of land. In 2010, it allowed him to purchase the Bell Ranch, 290 000 acres of land in New Mexico, and as a result jumping Ted Turner as America’s largest landowner. Just between John Malone and Ted Turner they own over 50 percent of the amount of land that African America owns as a whole.

HBCU business schools have a unique opportunity to change the paradigm of African American land ownership for future generations. This is even more so true at HBCU 1890 schools where agriculture still comprises a major component within the institutions. A class designed around African American land ownership would go a long way to educating graduates, who will typically be in a much better financial position to accumulate land than those with less education. The classes themselves could teach among others things but not limited to; how to implement “poison pills” into their community to prevent gentrification, how to finance land, history of land ownership, timberland investments, and a myriad of other land-related subjects.

Gentrification alone is a problem plaguing a number of African American communities across the nation. This has been especially true for African American neighborhoods located near city centers as many in the suburbs are starting to move back inward. There is also the issue facing African American farmers in this country. Healthy Solutions reports that less than 2 percent of farms today are operated by African Americans in comparison to 14 percent in 1920. There is no doubt that if one examines African America as a nation that its food security and food dependence would have alarm bells ringing for decades now as this situation grows more dire. The USDA in 2010 settled an almost $1.3 billion discrimination lawsuit with 70 000 African American farmers. However, land ownership and African American farms continue to decline further compounding African America capability to have access to quality food options and increasing long-term health issues. I could go into how land ownership influences rezoning of political lines but then I might need to turn this into a book.

Unfortunately, it begs the question as many HBCUs move to a focus on “diversity” whether or not African American economic issues are even on the minds of many HBCU business school leadership. Our situation can not be handled as a “minority” situation. It requires a more targeted strategy to our social, economic, and political state. We can not continue to be the group who has the least but shares the most unless we are content with perpetually being in last and institutionally dependent on others. Land, it remains kind of a big deal.

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