HBCU Money™ Business Book Feature – Ties That Bind: The Story of an Afro-Cherokee Family in Slavery and Freedom

This beautifully written book tells the haunting saga of a quintessentially American family. It is the story of Shoe Boots, a famed Cherokee warrior and successful farmer, and Doll, an African slave he acquired in the late 1790s. Over the next thirty years, Shoe Boots and Doll lived together as master and slave and also as lifelong partners who, with their children and grandchildren, experienced key events in American history–including slavery, the Creek War, the founding of the Cherokee Nation and subsequent removal of Native Americans along the Trail of Tears, and the Civil War. This is the gripping story of their lives, in slavery and in freedom.
Meticulously crafted from historical and literary sources, Ties That Bind vividly portrays the members of the Shoeboots family. Doll emerges as an especially poignant character, whose life is mostly known through the records of things done to her–her purchase, her marriage, the loss of her children–but also through her moving petition to the federal government for the pension owed to her as Shoe Boots’s widow. A sensitive rendition of the hard realities of black slavery within Native American nations, the book provides the fullest picture we have of the myriad complexities, ironies, and tensions among African Americans, Native Americans, and whites in the first half of the nineteenth century.

The HBCU Money™ Weekly Market Watch

Our Money Matters /\ August 24, 2012

NAME TICKER PRICE (GAIN/LOSS %)

African American Publicly Traded Companies

Citizens Bancshares Georgia (CZBS) $3.89 (3.95% DN)

Carver Bank New York (CARV) $3.80 (1.54% DN)

Radio One (ROIA) $0.82 (UNCH)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  146.09 (UNCH)

Botswana Stock Exchange (BSE)  7 342.57 (0.15% DN)

Ghana Stock Exchange (GSE)  N/A

Nairobi Stock Exchange (NSE)  83.84 (N/A)

Johannesburg Stock Exchange (JSE) 35 794.12 (N/A)

International Stock Exchanges

New York Stock Exchange (NYSE) 8 047.86 (0.45% UP)

London Stock Exchange (LSE)  3 000.62 (0.02% DN)

Tokyo Stock Exchange (TOPIX)  757.23 (0.96% DN)

Commodities

Gold 1 672.90 (0.01% UP)

Oil 96.15 (0.12% DN)

*All quotes reported as of 2:00 PM Eastern Time Zone

The HBCU Endowment Feature – Virginia State University

School Name: Virginia State University

Median Cost of Attendance: $20 966

Undergraduate Population: 5 075

Endowment Needed: $2 128 048 960

Analysis: Virginia State University needs $2.1 billion to allow all of its undergraduates to attend the university debt free annually at its current population and cost of attendance. VSU has both a foundation and university endowment that serve the institution and student body.The university’s endowment is $22.5 million as reported to NACUBO annual survey meaning if all of the endowment was dedicated to scholarship they would have enough for 1.07% of their student body to go to school debt free annually. On the brighter side, VSU is one of the fastest growing endowments in terms of capital and investment returns and with a strong push among alumni could see itself break into the rare air of HBCU endowments with $100 million plus in assets.

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 Hidden Cost Of Being African American – How Wealth Perpetuates Inequality

Over the past three decades, racial prejudice in America has declined significantly and many African American families have seen a steady rise in employment and annual income. But alongside these encouraging signs, Thomas Shapiro argues in The Hidden Cost of Being African American, fundamental levels of racial inequality persist, particularly in the area of asset accumulation–inheritance, savings accounts, stocks, bonds, home equity, and other investments. Shapiro reveals how the lack of these family assets along with continuing racial discrimination in crucial areas like homeownership dramatically impact the everyday lives of many black families, reversing gains earned in schools and on jobs, and perpetuating the cycle of poverty in which far too many find themselves trapped.
Shapiro uses a combination of in-depth interviews with almost 200 families from Los Angeles, Boston, and St. Louis, and national survey data with 10,000 families to show how racial inequality is transmitted across generations. We see how those families with private wealth are able to move up from generation to generation, relocating to safer communities with better schools and passing along the accompanying advantages to their children. At the same time those without significant wealth remain trapped in communities that don’t allow them to move up, no matter how hard they work. Shapiro challenges white middle class families to consider how the privileges that wealth brings not only improve their own chances but also hold back people who don’t have them. This “wealthfare” is a legacy of inequality that, if unchanged, will project social injustice far into the future.
Showing that over half of black families fall below the asset poverty line at the beginning of the new century, The Hidden Cost of Being African American will challenge all Americans to reconsider what must be done to end racial inequality.

The HBCU Money™ Weekly Market Watch

Our Money Matters /\ August 17, 2012

NAME TICKER PRICE (GAIN/LOSS %)

African American Publicly Traded Companies

Citizens Bancshares Georgia (CZBS) $3.50 (UNCH)

Carver Bank New York (CARV) $4.35 (1.14% DN)

Radio One (ROIA) $0.84 (3.45% DN)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  144.64 (0.01% DN)

Botswana Stock Exchange (BSE)  7 331.97 (0.15 UP)

Ghana Stock Exchange (GSE)  1 030.50 (UNCH)

Nairobi Stock Exchange (NSE)  83.67 (N/A)

Johannesburg Stock Exchange (JSE) 35 547.33 (0.55% DN)

International Stock Exchanges

New York Stock Exchange (NYSE) 8 090.26 (0.26% UP)

London Stock Exchange (LSE)  3 042.06 (0.41% UP)

Tokyo Stock Exchange (TOPIX)  765.81 (0.88% UP)

Commodities

Gold 1 680.40 (0.05% DN)

Oil 96.07 (0.49% UP)

*All quotes reported as of 3:30 PM Eastern Time Zone