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OUR BUSINESS by Wendell Hutson

Financial convention looked at ‘State of Black Businesses’

How can Black businesses gain access to capital and how can wealth be circulated within the Black community were among the questions answered at the Black Wall Street National Convention & Summit XIII recently held in Chicago.

 
 
OUR BUSINESS by Cheryl Pearson-McNeil

Laggard or early adopter: Which one are you?

Were you one of the first to run out and grab an iPad when they hit the market this spring? If you’re a more affluent 25–36-year-old, you would be part of Apple’s most fertile consumer market. That’s according to The Nielsen Company’s latest iPhone and iPad User Profiles.

 
 
OUR BUSINESS by Jim Abrams

House members scurry back to pass jobs bill

House members are giving up a couple of days reconnecting with folks in their districts this week to pass a jobs bill that Democrats say is crucial to the nation's well-being.

 
 
OUR BUSINESS by Cheryl Pearson-McNeil

Celebration time: The back to school season has begun

It’s time for my favorite annual holiday – which technically isn’t an “official” day, but actually several weeks leading up to one BIG day. YOUR day may not be the same as mine. But trust me, it’s the one holiday most seasoned parents look forward to more than all the others combined. It’s the back to school season, and yes, I am so glad it’s finally HERE!

 
 
OUR BUSINESS Associated Press

Obama says bank bonuses prove need for finance law

President Barack Obama says new revelations of big bank bonuses underscore the need for the financial regulation bill he signed into law this week.

 
 
OUR BUSINESS by Andrew Taylor

House approves additional jobless benefits

Congress has approved legislation to restore unemployment benefits to people who have been out of work for six months or more, ending a seven-week interruption that caused 2 1/2 million people to lose unemployment benefits averaging about $300 a week.

 
 
OUR BUSINESS by Cheryl Pearson-McNeil

Nearly 10 million U.S. viewers watched LeBron’s ‘Decision’

Last Christmas my favorite gift was the book, Basketball for Dummies. My family thought I needed it because my 13-year-old son has been playing basketball since kindergarten, wears a size 13 shoe and at 6’1” is already towering over me – all clear indicators that he might one day be a truly viable force on the court.

 
 
OUR BUSINESS by Andrew Taylor

Filibuster broken, jobless benefits may flow soon

With a GOP filibuster safely broken, the Senate is poised to pass legislation restoring jobless benefits for millions of people unable to find work in the frail economic recovery.

 
 
OUR BUSINESS by Cheryl Pearson-McNeil

Using our (consumer) power for good

As an executive at the world’s largest consumer research organization, The Nielsen Company, I spend my days surrounded by data and statistics.

 
 
OUR BUSINESS by Kathy Chaney

KFC renews commitment to diversity

A popular chicken fast food eatery recently announced it was renewing its commitment to diversifying its franchise owner roll and employee pool.

 
 
OUR BUSINESS Associated Press

Consumer confidence tumbles in June

Americans, worried about jobs and the sluggish economic recovery, are having a relapse in confidence, causing a widely watched index to tumble in June and raising concerns about consumer spending in the critical months ahead.

 
 
OUR BUSINESS by Cheryl Pearson-McNeil

The times, technology: They’re both a-changin’

Technology is moving faster than the speed of light. Are you keeping up? Eighty-eight year old actress Betty White - whose popularity has gone through the roof lately -- was marveling at how “live” TV was such a unbelievably big deal back in the 1940’s and ‘50s when her 63-year career began.

 
 
OUR BUSINESS Associated Press

CVS Caremark, Walgreen stick together

CRISIS AVERTED: CVS Caremark Corp. and Walgreen, which could have lost billions in revenue each in their dispute over prescription pricing, will continue doing business together.

 
 
OUR BUSINESS by Mary Clare Jalonick

Group will sue McDonald’s over Happy Meal toys

WASHINGTON - Are the toys in your child’s Happy Meal making him fat?

 
 
OUR BUSINESS Associated Press

Woman sues claiming Subway sandwich she ate made her sick

JOLIET, Ill. - A suburban Chicago woman who says she got sick after eating a Subway sandwich is suing the restaurant and the chain’s parent company.

 
 
OUR BUSINESS by Alan Zibel

Borrowers exit troubled Obama mortgage program

WASHINGTON – The Obama administration's flagship effort to help people in danger of losing their homes is falling flat.

 
 
OUR BUSINESS by Christopher S. Rugaber

Federal Reserve to conduct first test auction of bank CDs

WASHINGTON - The Federal Reserve on Monday will conduct the first test of a new tool intended to soak up the huge amounts of money it has injected into the economy.

 
 
OUR BUSINESS Associated Press

Bailout firms pay nearly all back taxes owed

WASHINGTON – A government investigator says companies receiving money from the government's Wall Street bailout have repaid nearly all the $531 million in unpaid federal taxes they owed when they entered the program.

 
 
OUR BUSINESS by Martin Crutsinger

Less spending by Americans could slow recovery

WASHINGTON - Americans are pulling back on their spending, a trend that could slow the economic recovery if it continues.

 
 
OUR BUSINESS by Michael G. Shinn

Money Smart

When a parent dies

When a parent dies, a dependent child suffers one of the most painful experiences of their life. The emotional loss is significant, however lurking below the surface are legal and financial issues that can have a long term impact on the child's growth and development.

 
 
OUR BUSINESS by David Pitt

Steps to protect your 401(k)

DES MOINES, Iowa – It's been a harrowing ride in the stock market lately. So much so that it's prompted scores of investors to pull money out of the market and park it in bonds or other fixed-income assets.

 
 
OUR BUSINESS by Chuck Bartels

Wal-Mart plans to hire 500,000, sets stock buyback

FAYETTEVILLE, Ark. – Wal-Mart Stores Inc.'s CEO told shareholders Friday that the company is positioning itself for 20 years of worldwide growth and that it plans to hire a half-million employees over the next five years.

 
 
OUR BUSINESS by Cheryl Pearson-McNeil

Game On: Gaming systems appeal to men and women alike

Father's Day is almost here, so remember: men love toys. Regardless of his age, you might consider getting your guy a new video game or gaming system, as they continue to be popular.

 
 
OUR BUSINESS by Christopher Wills

Quinn OKs bill letting state universities borrow

SPRINGFIELD, Ill. - Illinois universities were given authority Tuesday to borrow money so they can stay afloat while waiting for state government to pay its bills.

 
 
OUR BUSINESS by Caryn Rousseau

Charitable giving falls 3.6 percent

Charitable giving fell by 3.6 percent last year as Americans continued to struggle with the recession, though some philanthropic experts feared the decrease could have been much worse given the economic downturn, according to an authoritative annual survey released Wednesday.

 
 
OUR BUSINESS by Wendell Hutson

New community bank may open in Bronzeville

Edward Wiliams, a former Harris Bank executive, has teamed up with a former colleague from the bank, Matthew Roth to create Generation Community Bank. They are looking to build the bank at 501 E. 43rd St.– which is currently a vacant lot, according to Williams.

 
 
OUR BUSINESS by Cheryl Pearson-McNeil

Who's watching what?

“Nielsen. The TV ratings people, right?” “Right! But, we're so much more. The Nielsen Company is the largest marketing research company in the world. Beyond television we also measure and analyze trends and consumer behavior around the globe in the mobile, online and consumer packaged goods industries.”

 
 
OUR BUSINESS by Alan Zibel and Martin Crutsinger

Tax credit and low mortgage rates boost home sales

WASHINGTON - Homebuyers rushed to take advantage of government incentives and low mortgage rates in April, giving the housing market its biggest boost in five months.

 
 
OUR BUSINESS by Michael G. Shinn

Having a financial survival plan

Ben Sherwood in his book, The Survivors Club, studied people who had survived some of the most horrendous human tragedies. According to Sherwood, “No matter the adversity, the navy says, survival is a mentality, a way of thinking.

 
 
OUR BUSINESS by Wendell Hutson

Durbin takes a swipe at Visa, MasterCard fees

The U.S. House may soon debate new legislation the Senate passed last week aimed at reducing swipe fees small businesses incur each time a customer uses their credit or debit card.

 
 
OUR BUSINESS by Cheryl Pearson-McNeil

Real movie magic begins with you

I love going to the movies. Don't you? According to The Nielsen Company, African Americans patronize movie theaters an average of seven times a year (which has trended down slightly over the past two years).

 
 
OUR BUSINESS by Jeannine Aversa

Burst of hiring aids recovery, but long slog ahead for job searchers

WASHINGTON - The economy got what it needed in April: A burst of hiring that added a net 290,000 jobs, the biggest monthly total in four years.

 
 
OUR BUSINESS by Cheryl Pearson-McNeil

Mother’s Day beatitudes: Power, Mama

From a colloquial perspective -- “If Mama ain't happy, ain't nobody happy!” -- we've long understood the power of mothers.

 
 
OUR BUSINESS Special to Defender

Chicago Defender history dates back over a century

On May 5, 1905, Robert Sengstacke Abbott founded the Chicago Defender in a small kitchen in his landlord's apartment, with an initial investment of 25 cents and a press run of 300 copies.

 
 
OUR BUSINESS by Stephen Ohlemacher

New bank tax picks up support

WASHINGTON – A new tax on large banks is picking up support in Congress as Democratic lawmakers target financial institutions that benefited from the Wall Street bailout to help pay for the Democrats' election-year agenda.

 
 
OUR BUSINESS by Wendell Hutson

Proposed legislation allows some student loans in bankruptcy

One West Side congressman has proposed legislation to further strengthen this year's college student loan overhaul and would allow for private student loans to be discharged in bankruptcy.

 
 
OUR BUSINESS by Carla K. Johnson

Illinois nursing home reformers push for bigger staffing levels

Gov. Pat Quinn has proposed reforms that would raise minimum staffing levels at nursing homes, an idea that's quietly being fought by the industry although there's evidence more time spent on care by nurses and aides improves residents' health.

 
 
OUR BUSINESS by Greg Risling

AP-CNBC Poll: Most people in U.S. against legalizing marijuana

LOS ANGELES - Most Americans still oppose legalizing marijuana but larger majorities believe pot has medical benefits and the government should allow its use for that purpose, according to an Associated Press-CNBC poll released Tuesday.

 
 
OUR BUSINESS by Cheryl Pearson-McNeil

Census 2010: The power of you 1 1 1…

When someone learns I work for The Nielsen Company, their first question is “how can I become a Nielsen TV family?” If I said “by participating in the 2010 census,” it wouldn't be a long stretch.

 
 
OUR BUSINESS Special to Defender

Fewer African Americans believe home ownership is attainable

Many African Americans still see owning a home as a primary way to achieve the American dream. But a majority of Blacks believe that this dream is currently unattainable and will only be harder to achieve in the future, according to a Fannie Mae survey.

 
 
OUR BUSINESS by Michael G. Shinn

“Who have you touched?”

Ella Mae Cheeks Johnson, of Cleveland recently passed after having spent one hundred six years in this life. As a fellow church member, I had the wonderful opportunity to visit Mrs. Johnson on numerous occasions and to share her philosophy of life.

 
 
OUR BUSINESS by Dave Carpenter

How to get more college financial aid

Cutting a better deal on college financial aid can be more than a parents' fantasy.

 
 
OUR BUSINESS Associated Press

U.S. companies criticize Chinese market obstacles

BEIJING - Foreign companies say China is increasingly using discriminatory rules to reduce access to previously open areas of its economy and promote its technology industries, a U.S. business group said Friday, adding to rising complaints of worsening conditions for foreign investors.

 
 
OUR BUSINESS by Martin Crutsinger

AP source: Annual report on Social Security to be delayed

WASHINGTON – The Obama administration is delaying release of the annual report on the financial health of Social Security and Medicare so that the new report can reflect the impact of the recently passed health care overhaul.

 
 
OUR BUSINESS by Ricardo Alonso-Zaldivar

Scam alert on new health care law

WASHINGTON – Scam artists are taking advantage of the new health insurance law to peddle phony policies.

 
 
OUR BUSINESS by Cheryl Pearson-McNeil

Forget crow's feet, how you shop can reveal your age

I'm going to tell you a secret, but you have to keep it just between us: my macaroni and cheese is better than my mother's. But she doesn't know that, so sssh. Mom and her friends use Velveeta processed cheese to make their hot, bubbly, baked delight.

 
 
OUR BUSINESS Defender Staff Report

Rep. Monique Davis sponsors bill for small business tax

Small businesses with 50 or fewer employees may receive a $2,500 tax credit for each full-time job earning at least $13.75 per hour they create and sustain for at least one year thanks to legislation recently passed by the Illinois House and Senate.

 
 
OUR BUSINESS by Alan Zibel and Christophen S. Rugaber

Government unveils plan to shrink some home loans, decrease default

WASHINGTON – After months of criticism that it hasn't done enough to prevent foreclosures, the Obama administration announced on Friday a plan to reduce the amount some troubled borrowers owe on their home loans.

 
 
OUR BUSINESS by Martin Crutsinger

Geithner says bank overhaul must protect consumers

WASHINGTON – Treasury Secretary Timothy Geithner says the administration will not accept a financial overhaul bill that does not provide strong consumer protection and restraints on risk taking by large banks.

 
 
OUR BUSINESS Associated Press

ACORN closing in wake of scandal

The once mighty community activist group ACORN says it's folding.

 
 
OUR BUSINESS by Matt Apuzzo

Government rewarded bank auditors with big bonuses

WASHINGTON – As banks gambled on the risky mortgages that helped create the worst financial crisis in generations, the U.S. government handed out millions of dollars in bonuses to regulators at agencies that missed or ignored warning signs that the system was on the verge of a meltdown.

 
 
OUR CITY by Rhonda Gillespie

Leaders discuss need for African American agenda

To the recent question raised – should there be an African American agenda for the White House to consider – the answer is a resounding ‘yes,’ according to participants in Saturday’s We Count: The Black Agenda Is The American Agenda forum hosted by commentator and author Tavis Smiley.

 
 
OUR BUSINESS by Tomoko A. Hosaka

Toyota counts rising cost of recall woes – estimated in billions

TOKYO - A massive global recall, mounting legal bills and a battered reputation add up to a very expensive problem for Toyota.

 
 
OUR BUSINESS by Cheryl Pearson-McNeil

African Americans watching Hollywood by the millions

So, I actually managed to stay awake through the 82nd Annual Academy Awards. (OK, I dozed off a few times, but I was up for the parts that mattered.) How many of you watched the Oscars on March 7? No need to 'fess up.

 
 
OUR BUSINESS by Michael Tarm

ACORN branches rename, rebrand after video scandal

Affiliates of the once mighty liberal activist group ACORN are remaking themselves in a desperate bid to ditch the tarnished name of their parent organization and restore federal grants and other revenue streams that ran dry in the wake of a video scandal.

 
 
OUR BUSINESS Associated Press

FCC set to unveil sweeping national broadband plan

WASHINGTON - Communications regulators on Tuesday will unveil a sweeping proposal to overhaul U.S. broadband policy.

 
 
OUR BUSINESS Associated Press

Report shows Blacks spend on better lifestyles, home

Black consumers are responding to tighter economic conditions by focusing more of their spending on products and services that improve their homes and lifestyle.

 
 
OUR BUSINESS by Michael G. Shinn

Repairing credit may save money

Repairing your credit may save you money. Over the near term, interest rates will rise. This week, the Federal Reserve increased the rate it charges banks for emergency loans.

 
 
OUR BUSINESS by Curt Anderson and Greg Bluestein

Class-action lawsuits could cost Toyota $3B-plus

MIAMI – Toyota owners claiming that massive safety recalls are causing the value of their vehicles to plummet have filed at least 89 class-action lawsuits that could cost the Japanese auto giant $3 billion or more, according to an Associated Press review of cases, legal precedent and interviews with experts.

 
 
OUR BUSINESS by Cheryl Pearson-McNeil

Haiti proves social media can impact lives

With the exception of a handful of hard-core holdouts - you know, the set-in-her-ways mama, the “when pigs fly” grandfather, the technologically challenged (and likes it that way, thank you very much) friend - everyone I know (even my mother) seems to be texting, tweeting, instant messaging, blogging, You Tubing, Facebooking, My Space-ing or communicating through some other form of social media.

 
 
OUR BUSINESS by Eileen AJ Connelly

Mixed blessing: Credit card reform may shock some

NEW YORK - Your next credit card statement is going to contain an ugly truth: how much that card really costs to use.

 
 
OUR BUSINESS by Hope Yen

Millions wasted on census as head count approaches

WASHINGTON - Were those pricey Super Bowl ads a waste? Maybe not, but paying $3 million to census employees who didn't do any work surely was.

 
 
OUR BUSINESS Associated Press

Couple pleads not guilty to alleged fraud

The owner of a contracting company certified as a woman- and minority-owned business has pleaded not guilty to charges the firm collected $9.6 million through fraudulent contracts.

 
 
OUR BUSINESS by Jessica Mintz

Redbox rental agrees with Warner Bros. on delay

SEATTLE – DVD rental kiosk chain Redbox has agreed to wait 28 days after Warner Bros. releases new movies for sale before offering to rent them for $1 a night.

 
 
OUR BUSINESS by John M. Clark Jr.

Dr. King’s dream: A dream deferred

Dr. King dreamed of the day that African Americans would enjoy a full measure of freedom; however, he knew that we would not enjoy a full measure of freedom until we gained economic empowerment.

 
 
OUR BUSINESS by Michael G. Shinn

2010: A year of economic transition

The year 2010 will be a year of transition from the Great Recession to hopefully a period of sustainable economic growth.

 
 
OUR BUSINESS by Wendell Hutson

Economy forces small business to make big changes

The economy has taken its toll on corporate America, wiping out jobs, reducing revenues and in some cases forcing giants, such as General Motors Corp., into bankruptcy.

 
 
OUR BUSINESS by Michael G. Shinn

Your Money Really Matters

Winning the financial game

OUR BUSINESS by Michael G. Shinn

Your Money Really Matters

Winning the financial game

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OUR BUSINESS by Tom Krisher

GM rescinds white-collar pay cuts made in spring

DETROIT — General Motors Co. has rescinded white-collar pay cuts it made last spring as it desperately tried to conserve cash and avoid filing for bankruptcy protection.

 
 
OUR BUSINESS by Christopher S. Rugaber

Trade, jobless claims figures show recession fades

WASHINGTON — The U.S. trade deficit in July hit the highest level in six months as a record rise in imports outpaced a third straight increase in foreign demand for American products, according to government data released Thursday. Both gains provided more evidence that the worst recession since the 1930s was losing its grip on the global economy.

 
 
OUR BUSINESS by Nisa Islam Muhammad

Financial experts: Economic recovery slow to reach Black America

WASHINGTON –“The world has been through the most severe financial crisis since the Great Depression. The crisis in turn sparked a deep global recession, from which we are only now beginning to emerge,” Federal Reserve chair Ben Bernanke recently told the Federal Reserve Bank during an economic symposium in Kansas City.

 
 
 
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