Category Archives: Lifestyle

HBCU Money™ Histronomics: S.2510 – Howard University Endowment Act

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Sponsor: Dan Quayle (R-IN) – Introduced March 30, 1984

Summary:

Howard University Endowment Act – Authorizes the Secretary of Education to establish an endowment program for Howard University. Authorizes the Secretary, from funds available in any fiscal year for the University, to make grants into the endowment fund established under this Act at the University. Authorizes the Secretary to enter into agreements with the University, including provisions necessary to assure that the purposes of this Act will be achieved.

Requires the University, in order to receive such a grant, to: (1) deposit in the endowment fund an amount equal to such grant; and (2) administer the endowment fund in accordance with the requirements of this Act. Prohibits the source of funds for such institutional match from including Federal funds or funds derived from an existing endowment fund.

Limits the period of any such grant to 20 years. Prohibits the University from withdrawing or expending any of its endowment fund corpus during such grant period. Allows the University, upon expiration of such period, to use the endowment fund corpus plus any endowment fund income for any educational purpose.

Sets forth requirements for investments of the endowment fund corpus and endowment fund income.

Sets forth provisions relating to authorized withdrawals and expenditures of endowment fund income.

Sets forth provisions for enforcement of requirements under this Act.

Makes conforming amendments to specified Federal law relating to Howard University.

Source: Congress.gov

The Term HBCU Must Transcend More Than Colleges For African America

By William A. Foster, IV

I know no national boundary where the Negro is concerned. The whole world is my province until Africa is free. – Marcus Garvey

Village West Revitalization

I know no national boundary where the Negro is concerned. The whole world is my province until Africa is free.
Read more at http://www.brainyquote.com/quotes/quotes/m/marcusgarv390470.html#oSLCrTYbwfLYxdm7.99
I know no national boundary where the Negro is concerned. The whole world is my province until Africa is free.
Read more at http://www.brainyquote.com/quotes/quotes/m/marcusgarv390470.html#oSLCrTYbwfLYxdm7.99
I know no national boundary where the Negro is concerned. The whole world is my province until Africa is free.
Read more at http://www.brainyquote.com/quotes/quotes/m/marcusgarv390470.html#oSLCrTYbwfLYxdm7.99
I know no national boundary where the Negro is concerned. The whole world is my province until Africa is free.
Read more at http://www.brainyquote.com/quotes/quotes/m/marcusgarv390470.html#oSLCrTYbwfLYxdm7.99

Let me say this first – African America must define itself. Again, African American must define itself. It must not be defined by the federal government or those in ivory towers in lands far away. No, African America must define itself. That includes all institutions that have been created to serving our interest.

What is an HBCU? We know the acronym stands for Historically Black Colleges & Universities. We know that it was the federal government that defined an HBCU as an institution whose primary mission was to educate African Americans and established prior to 1964. This inflexible definition based on a founding year sounds a lot like what those in geostrategy would call containment. George F. Keenan, a career Foreign Service Officer, created the policy, strategy, and term of containment to deal with the Soviet Union after World War II. The strategy has been used in many different facets from the very macro level of countries to organizations on micro levels. It has been used by McDonald’s against Burger King and Wendy’s by a strategy of buying and controlling prime property locations when possible. By limiting what an HBCU can be, there seems to be a policy to contain African American institutional power. Unfortunately, HBCUs themselves are contributing to this containment themselves.

Chicago State, Charles Drew University, Martin College, Roxbury Community College, Medgar Ever College all serve predominantly African American populations, but are not considered HBCUs by the federal government and do not receive federal funding – more importantly there does not seem to be effort by traditional HBCUs themselves to include these institutions into the fabric. These schools are located in Illinois, California, Indiana, Massachusetts, and New York, respectively. All strategic geographic areas for African America. Instead, we allow for schools like Bluefield State College, West Virginia State University, and at least six other colleges who have federal HBCU designations, but have predominantly European American populations to receive federal funding under the guise of being HBCUs. They are historic certainly, but have long since not been under the control of African America. Even if we can not change the statute of the funding – debatable since that is what amendments are for – we can do a better job of expanding our geographic reach of what an HBCU is nationally by including the aforementioned schools rather than holding onto institutions we have long since lost control of.

Can HBCUs be more than colleges and universities though? I believe it can, if you believe that an HBCUs purpose in spirit is to serve the institutional development of African America. It can and should include predominantly African American cities and towns, neighborhoods, secondary schools, banks and credit unions, businesses (the reason for the creation of HBCU Chamber of Commerce), colleges and universities outside of the United States serving African Diaspora populations, and other institutions whose purpose are deemed to create an ecosystem of African America’s ability to circulate its social, economic, and political assets. By allowing the term HBCU to transcend colleges and universities it allows a flag of unity and interlocking to be established.

HBCUs are facing threats on a number of fronts. Some of these threats are internal like endowments, alumni giving, and some external like state and federal policies and outside influence looking to dilute and contain HBCUs as institutions of African American institutional power. The way to combat this is to expand not retrench. An HBCU manifest destiny I dare call it. The old saying a chain is only as strong as its weakest link, but what if the chain is not even interlocking? Outside of some loose conference interlocking, there seems to be very little interlocking of African American institutions with each other and HBCUs are no different. We could can help this by expanding the definition of HBCU and defining it ourselves. A definition based on inclusion of other institutions who are working towards the same goals and missions as HBCUs.

Currencies Of The African Diaspora – Republic Of The Congo

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The economy is a mixture of subsistence hunting and agriculture, an industrial sector based largely on oil and support services, and government spending. Oil has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports. Natural gas is increasingly being converted to electricity rather than being flared, greatly improving energy prospects. New mining projects, particularly iron ore, that entered production in late 2013 may add as much as $1 billion to annual government revenue. Economic reform efforts have been undertaken with the support of international organizations, notably the World Bank and the IMF, including recently concluded Article IV consultations. The current administration faces difficult economic challenges of stimulating recovery and reducing poverty. The drop in oil prices during the global crisis reduced oil revenue by about 30%, but the subsequent recovery of oil prices boosted the economy’s GDP from 2009-13. Officially the country became a net external creditor as of 2011, with external debt representing only about 16% of GDP and debt servicing less than 3% of government revenue.
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Currencies Of The African Diaspora – Comoros

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One of the world’s poorest countries, Comoros is made up of three islands that have inadequate transportation links, a young and rapidly increasing population, and few natural resources. The low educational level of the labor force contributes to a subsistence level of economic activity, high unemployment, and a heavy dependence on foreign grants and technical assistance. Agriculture, including fishing, hunting, and forestry, contributes 50% to GDP, employs 80% of the labor force, and provides most of the exports. Export income is heavily reliant on the three main crops of vanilla, cloves, and ylang-ylang; and Comoros’ export earnings are easily disrupted by disasters such as fires. The country is not self-sufficient in food production; rice, the main staple, accounts for the bulk of imports. The government – which is hampered by internal political disputes – lacks a comprehensive strategy to attract foreign investment and is struggling to upgrade education and technical training, privatize commercial and industrial enterprises, improve health services, diversify exports, promote tourism, and reduce the high population growth rate. Political problems have inhibited growth. Remittances from 150,000 Comorans abroad help supplement GDP. In December 2012, IMF and the World Bank’s International Development Association supported $176 million in debt relief for Comoros, resulting in a 59% reduction of its future external debt service over a period of 40 years.
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Source: Economy overview provided by CIA Factbook

Currencies Of The African Diaspora – Chad

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Chad’s primarily agricultural economy will continue to be boosted by major foreign direct investment projects in the oil sector that began in 2000. Economic conditions have been positive in recent years, with real GDP growth reaching 13% in 2010 because of high international prices for oil and a strong local harvest. GDP growth for 2012 was 5%. However, Chad’s investment climate remains challenging due to limited infrastructure, a lack of trained workers, extensive government bureaucracy, and corruption. At least 80% of Chad’s population relies on subsistence farming and livestock raising for its livelihood. The government of Chad is determined to improve agricultural production through modernization and mechanization over the next three years, and hosted a national Rural Development Forum in 2012 to promote investment in agriculture. Chad’s economy has long been handicapped by its landlocked position, high energy costs, and a history of instability. Chad relies on foreign assistance and foreign capital for most public and private sector investment projects. Remittances are also an important source of income. The Libyan conflict disrupted inflows of remittances to Chad’s impoverished western region that relies on income from Chadians living in Libya. A consortium led by two US companies has been investing $3.7 billion to develop oil reserves – estimated at 1.5 billion barrels – in southern Chad. Chinese companies are also expanding exploration efforts and have completed a 311-km pipeline and the country’s first refinery. The nation’s total oil reserves are estimated at 1.5 billion barrels. Oil production came on stream in late 2003. Chad began to export oil in 2004. Cotton, cattle, and gum arabic provide the bulk of Chad’s non-oil export earnings.

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Source: Economy overview provided by CIA Factbook