Category Archives: Lists

HBCU Money™ Business Book Feature – The World Is Flat

Posted on March 27, 2017 by | Leave a comment

When scholars write the history of the world twenty years from now, and they come to the chapter “Y2K to March 2004,” what will they say was the most crucial development? The attacks on the World Trade Center on 9/11 and the Iraq war? Or the convergence of technology and events that allowed India, China, and so many other countries to become part of the global supply chain for services and manufacturing, creating an explosion of wealth in the middle classes of the world’s two biggest nations, giving them a huge new stake in the success of globalization? And with this “flattening” of the globe, which requires us to run faster in order to stay in place, has the world gotten too small and too fast for human beings and their political systems to adjust in a stable manner?

In this brilliant new book, the award-winning New York Times columnist Thomas Friedman demystifies the brave new world for readers, allowing them to make sense of the often bewildering global scene unfolding before their eyes. With his inimitable ability to translate complex foreign policy and economic issues, Friedman explains how the flattening of the world happened at the dawn of the twenty-first century; what it means to countries, companies, communities, and individuals; and how governments and societies can, and must, adapt. The World Is Flat is the timely and essential update on globalization, its successes and discontents, powerfully illuminated by one of our most respected journalists.

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HBCU Money™ Business Book Feature – Is the US Trade Deficit Sustainable?

Posted on March 20, 2017 by | Leave a comment

The global financial crisis of 1997-98 and the widening US trade deficit have precipitated fresh inquiry into a set of perennial questions about global integration and the US economy. How has global integration affected US producers and workers, and overall growth and inflation? Is a chronic and widening deficit sustainable, or will the dollar crash, perhaps taking the economy with it? If the problem was one of “twin deficits,” as many thought, why has the trade deficit continued to grow even as the budget deficit narrowed to zero? If US companies are so competitive, why does the trade deficit persist? Is the trade deficit a result of protectionism abroad? Will it lead to protectionism at home? What role do international capital markets have?

Each chapter presents relevant data and a simple analytical framework as the basis for concise discussions of these major issues. The final section of the book provides an outlook for the deficit and suggests alternative policy courses for dealing with it. This book is designed for policymakers and others who are interested in the US role in the world economy. It is also suitable for courses in international economics, business, and international affairs.

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HBCU Money’s 2017 African American Owned Bank Directory

Posted on March 13, 2017 by | 10 comments

For the most current African American Owned Bank Directory visit the 2022 link by clicking here.

(Founders of Merchants & Farmers Bank in Durham, North Carolina)

All banks are listed by state. In order to be listed in our directory the bank must have at least 51 percent African American ownership. You can click on the bank name to go directly to their website.

OTHER KEY FINDINGS:

  • Key losses were the closure of North Milwaukee State Bank and Seaway Bank & Trust.
  • AAOBs are in 17 states and territories. Key states absent are Florida, Mississippi, New York, and Ohio.
  • Alabama, Georgia, and Tennessee, each have two AAOBs.
  • 2016 Median AAOBs Aseets: $107 631 000 ($107 551 000)*
  • 2016 Average AAOBs Assets: $209 073 000 ($210 297 000)*
  • African American bank assets saw a 9.6 percent decrease or net loss of approximately $445.1 million in assets in 2016, primarily from the closure of the two aforementioned banks.
  • AAOBs control 0.03 percent of America’s $15.7 trillion Bank Owned Assets.
  • AAOBs control 2 percent of FDIC designated Minority-Owned Bank Assets, which is down from 2.3 percent in 2016.
  • There has not been an AAOB started in 16 years.
  • Only 8 of 2016’s 20 AAOBs saw increases in assets.
  • For comparison, Asian American Owned Banks have approximately $46.1 billion in assets spread over 68 institutions. They control 6.0 percent of Asian America’s buying power.

There are 20 African American owned banks (AAOBs) with assets totaling approximately $4.2 billion in assets or approximately 0.38 percent of African America’s $1.1 trillion in buying power. A 12 percent decrease from 2016.

ALABAMA

ALAMERICA BANK

Location: Birmingham, Alabama

Founded: January 28, 2000

FDIC Region: Atlanta

Assets: $36 266 000

Asset Change (2016): Up 2.2%

COMMONWEALTH NATIONAL BANK

Location: Mobile, Alabama

Founded: February 19, 1976

FDIC Region: Atlanta

Assets: $55 863 000

Asset Change (2016): Down 1.1%

CALIFORNIA

BROADWAY FEDERAL BANK FSB

Location: Los Angeles, California

Founded: February 26, 1947

FDIC Region: San Francisco

Assets: $413 295 000

Asset Change (2016): Up 2.6%

DISTRICT OF COLUMBIA

INDUSTRIAL BANK

Location: Washington, DC

Founded: August 18, 1934

FDIC Region: New York

Assets: $388 526 000

Asset Change (2016): Down 0.1%

GEORGIA

CARVER STATE BANK

Location: Savannah, Georgia

Founded: January 1, 1927

FDIC Region: Atlanta

Assets: $39 739 000

Asset Change (2016): Down 5.8%

CITIZENS TRUST BANK

Location: Atlanta, Georgia

Founded: June 18, 1921

FDIC Region: Atlanta

Assets: $405 911 000

Asset Change (2016): Up 4.6%

ILLINOIS

ILLINOIS SERVICE FEDERAL SAVINGS & LOAN

Location: Chicago, Illinois

Founded: January 01, 1934

FDIC Region: Chicago

Assets: $105 403 000

Asset Change (2016): Up 4.1%

LOUISIANA

LIBERTY BANK & TRUST COMPANY

Location: New Orleans, Louisiana

Founded: November 16, 1972

FDIC Region: Dallas

Assets: $611 640 000

Asset Change (2016): Up 1.2%

MARYLAND

HARBOR BANK OF MARYLAND

Location: Baltimore, Maryland

Founded: September 13, 1982

FDIC Region: New York

Assets: $248 503 000

Asset Change (2016): Down 12.9%

MASSACHUSETTS

ONEUNITED BANK

Location: Boston, Massachusetts

Founded: August 02, 1982

FDIC Region: New York

Assets: $646 088 000

Asset Change (2016): Down 0.4%

MICHIGAN

FIRST INDEPENDENCE BANK

Location: Detroit, Michigan

Founded: May 14, 1970

FDIC Region: Chicago

Assets: $236 098 000

Asset Change (2016): Up 8.9%

NEW JERSEY

CITY NB OF NEW JERSEY

Location: Newark, New Jersey

Founded: June 11, 1973

FDIC Region: New York

Assets: $223 040 000

Asset Change (2016): Down 10.8%

NORTH CAROLINA

MECHANICS & FARMERS BANK

Location: Durham, North Carolina

Founded: March 01, 1908

FDIC Region: Atlanta

Assets: $309 977 000

Asset Change (2016): Up 4.0%

PENNSYLVANIA

UNITED BANK OF PHILADELPHIA

Location: Philadelphia, Pennsylvania

Founded: March 23, 1992

FDIC Region: New York

Assets: $55 969 000

Asset Change (2016): Down 5.1%

SOUTH CAROLINA

SOUTH CAROLINA COMMUNITY BANK

Location: Columbia, South Carolina

Founded: March 26, 1999

FDIC Region: Atlanta

Assets: $51 323 000

Asset Change (2016): Down 3.2%

TENNESSEE

CITIZENS SAVINGS B&T COMPANY

Location: Nashville, Tennessee

Founded: January 4, 1904

FDIC Region: Dallas

Assets: $109 858 000

Asset Change (2016): Up 5.6%

TRI-STATE BANK OF MEMPHIS

Location: Memphis, Tennessee

Founded: December 16, 1946

FDIC Region: Dallas

Assets: $102 444 000

Asset Change (2016): Down 7.7%

TEXAS

UNITY NB OF HOUSTON

Location: Houston, Texas

Founded: August 01, 1985

FDIC Region: Dallas

Assets: $84 206 000

Asset Change (2016): Up 1.1%

VIRGINIA

FIRST STATE BANK

Location: Danville, Virginia

Founded: September 08, 1919

FDIC Region: Atlanta

Assets: $32 884 000

Asset Change (2016): Down 12.6%

WISCONSIN

COLUMBIA SAVINGS & LOAN ASSOCIATION 

Location: Milwaukee, Wisconsin

Founded: January 1, 1924

FDIC Region: Chicago

Assets: $24 424 000

Asset Change (2016): Up 3.1%

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HBCU Money™ Business Book Feature – Confessions of the Pricing Man: How Price Affects Everything

Posted on March 12, 2017 by | 1 comment

The world’s foremost expert on pricing strategy shows how this mysterious process works and how to maximize value through pricing to company and customer.

In all walks of life, we constantly make decisions about whether something is worth our money or our time, or try to convince others to part with their money or their time. Price is the place where value and money meet. From the global release of the latest electronic gadget to the bewildering gyrations of oil futures to markdowns at the bargain store, price is the most powerful and pervasive economic force in our day-to-day lives and one of the least understood.

The recipe for successful pricing often sounds like an exotic cocktail, with equal parts psychology, economics, strategy, tools and incentives stirred up together, usually with just enough math to sour the taste. That leads managers to water down the drink with hunches and rules of thumb, or leave out the parts with which they don’t feel comfortable. While this makes for a sweeter drink, it often lacks the punch to have an impact on the customer or on the business.

It doesn’t have to be that way, though, as Hermann Simon illustrates through dozens of stories collected over four decades in the trenches and behind the scenes. A world-renowned speaker on pricing and a trusted advisor to Fortune 500 executives, Simon’s lifelong journey has taken him from rural farmers’ markets, to a distinguished academic career, to a long second career as a

n entrepreneur and management consultant to companies large and small throughout the world. Along the way, he has learned from Nobel Prize winners and leading management gurus, and helped countless managers and executives use pricing as a way to create new markets, grow their businesses and gain a sustained competitive advantage. He also learned some tough personal lessons about value, how people perceive it, and how people profit from it.

In this engaging and practical narrative, Simon leaves nothing out of the pricing cocktail, but still makes it go down smoothly and leaves you wanting to learn more and do more―as a consumer or as a business person. You will never look at pricing the same way again.

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HBCU Money™ Business Book Feature – I Can’t Afford to Marry You

Posted on March 5, 2017 by | Leave a comment

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At 19-years-old, Marilyn was one month away from marrying John, her Prince Charming. Imagine her surprise when one day, out of the blue, he asked to see her finances. After revealing this personal information, she was shocked to hear him exclaim, “I can’t afford to marry you!” This was followed by the news that the wedding was off. What Marilyn did next to save face, temporarily cost her to lose self-esteem, but put her on a path to financial righteousness. This book is a must read for all – women, men, couples, and young people-who want to minimize their mistakes, master their money and secure their financial future.

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