Kimberly Godwin Named President of ABC News

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Headshot of Kimberly Godwin

The Walt Disney Co. has named Kimberly Godwin president of ABC News.

Godwin, a longtime producer and executive at CBS News, will become the first Black woman to lead a broadcast news division. She succeeds James Goldston, who stepped down as president of ABC News earlier this year.

Godwin will start at ABC in early May and report to Peter Rice, chairman of Disney General Entertainment Content.

A top deputy to CBS News president Susan Zirinsky, Godwin was most recently executive vp news at CBS, overseeing all newsgathering worldwide for the venerable broadcast news division. She also had oversight of newsrooms at all the CBS-owned and operated TV stations.

Godwin also stepped in as ep of the CBS Evening News, helping to launch the revamped newscast under anchor Norah O’Donnell. She also served as executive director for development and diversity at CBS News, and as a senior broadcast producer for the Evening News. Before joining CBS News in 2007, she spent more than 20 years working in local TV newsrooms across the country, including leadership roles at WCBS New York, KNBC Los Angeles and KXAS in Dallas.

“Kim is an instinctive and admired executive whose unique experiences, strengths and strategic vision made her the ideal choice to lead the outstanding team at ABC News and build on their incredible success,” said Rice in a statement announcing the hire. “Throughout Kim’s career in global news organizations and local newsrooms, she has distinguished herself as a fierce advocate for excellence, collaboration, inclusion and the vital role of accurate and transparent news reporting.”

“I have immense respect and admiration for ABC News,” added Godwin in a statement. “As the most trusted brand in news, they are to be commended for the extraordinary work and dedication of the journalists, producers, executives and their teams across the organization. I am honored to take on this stewardship and excited for what we will achieve together.”

Photo Credit: The Hollywood Reporter via ABC/ Heidi Gutman

Continue reading the full article at The Hollywood Reporter

Meghan Markle adds children’s book author to her resume

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Meghan Markle smiling away from the camera wearing a tan sleeveless blazer

By Kerry Justich, Yahoo! Life

Meghan Markle is adding published author to her resume after writing a children’s book that’s set to be released on June 8.

The Duchess of Sussex’s secret project is titled The Bench, according to an announcement by Penguin Random House, and is about “the special bond between father and son — as seen through a mother’s eyes.” The story is inspired by the relationship between Markle’s husband Prince Harry and son Archie, who turns two years old on Thursday. The book is also illustrated by artist Christian Robinson.

“The Bench started as a poem I wrote for my husband on Father’s Day, the month after Archie was born,” Meghan, The Duchess of Sussex, said in a statement. “That poem became this story. Christian layered in beautiful and ethereal watercolor illustrations that capture the warmth, joy, and comfort of the relationship between fathers and sons from all walks of life; this representation was particularly important to me, and Christian and I worked closely to depict this special bond through an inclusive lens. My hope is that The Bench resonates with every family, no matter the makeup, as much as it does with mine.”

The book comes as a surprise after the couple signed a multi-year deal with Netflix to produce documentaries, feature films, scripted television series and children’s series last fall. But the move still makes sense for the soon-to-be mother-of-two who told Oprah that “the most important title I’ll ever have is mom.” Markle is even set to narrate the audiobook edition.

Click here to read the full article on Yahoo! Life.

‘Ma Rainey’s’ hair and makeup team make history with Oscar win

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Viola Davis as Ma Rainey in “Ma Rainey’s Black Bottom" standing in front of a microphone with her right arm in the air while she sings

MARK OLSEN, LA Times

The hair and makeup team behind “Ma Rainey’s Black Bottom” — Sergio Lopez-Rivera, Mia Neal, and Jamika Wilson — made history when they were nominated for the Oscar, with Neal and Wilson being the first Black people recognized in the category. Now they have made history again as that category’s winners.

The team transformed Viola Davis into 1920s blues singer Ma Rainey, who, in the Netflix adaptation of August Wilson’s celebrated play, is seen during the course of one day spent largely in a sweltering Chicago recording studio. There are precious few photographs of the real-life Ma Rainey, so the team had to extrapolate much of its work from additional research.

Creating a period-accurate horsehair wig and a makeup look that would run and smear just so as the story progressed, the team devised a look that was part glamour and part grit, moving from precisely pulled-together to deliriously disheveled

Neal created the wigs; Wilson, Davis’ longtime hairstylist, put them on the actress. As makeup artist Lopez-Rivera, who also has a long-running collaboration with Davis, said of the character’s makeup and overall look, including her sweat, in an interview with The Times, “It was applied precisely to look messy.”

In accepting the award, Neal spoke of her grandfather, who was a Tuskegee Airman, represented the U.S. in the first Pan-Am Games and graduated from Northwestern University yet was barred from a job as a teacher because he was Black.

“So I want to say thank you to our ancestors who put the work in, were denied but never gave up,” Neal said. “And I also stand here as Jamika and I break this glass ceiling with so much excitement for the future. Because I can picture Black trans women standing up here and Asian sisters and our Latina sisters and Indigenous women. And I know that one day it won’t be unusual or groundbreaking, it will just be normal.”

Click here to read the full article in the LA Times.

Meet the Founder of a Thriving Black-Owned, Vegan-Friendly Beauty Brand

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Nynoka Grant facing the camera in a white shirt while holding up the packaging for one of her products

By Black News

Meet Nynoka Grant, founder and CEO of Akoyn Beauty, an Atlanta-based Black-owned company that manufactures vegan-friendly personal care specialty products that are especially for women. Their premium soaps, skin creams, and body butter are handmade from the finest all-natural ingredients. Now, more than ever, taking care of yourself and remaining stress-free is a priority.

Nynoka comments, “Women are indeed running the world, wielding political power but also facing unfair burdens during the global pandemic. Some women are working from home while homeschooling children. Others are essential workers. Women across the world are remaining indoors for safety reasons. Pandemic life is different, and everyone has adjusted. However, self-care is not optional.”
She continues, “This is not the time to abandon everyday beauty routines. Caring for your skin must be part of a twice-daily ritual, and the right all-over-body products can keep every inch of your skin nourished.”

Her company’s Hydrating Body Balm and Moisturizer help to improve and maintain skin tone and texture, naturally, without harsh ingredients. Aside from aesthetics, healthy skin signals overall health. Women must take time for themselves. Women are so bogged down with responsibilities, bath time may be the only private time, but caring for others requires that you make yourself a priority.

Nynoka says she wants every woman tasked with taking care of someone else to make themselves a priority. “You need to because they need you,” she says. “Our products are invigorating. Lift your spirits. Lavish your skin with much-needed attention. Refresh twice a day to experience softer, smoother skin, and enjoy the delicate signature fragrance you’ll be glad to call your own.”

Akoyn Beauty’s products are created for every skin complexion, skin tone, and skin type—dry skin and sensitive skin. Available in Elegant Lavender, Pink Cranberry, Tropical Fruit, and Minty Lime, these signature fragrances are designed and infused with essential oils to make women feel wonderful.

Click here to read the full article on Black News.

Actor Hill Harper launches The Black Wall Street platform aimed at empowering investors of color

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Hill Harper wearing a blue coat jacket and smiling at the camera while he attends the Netflix Golden Globe Weekend Cocktail Party at Cecconi’s Restaurant

By Frank Holland, CNBC

Nearly a century after Black Wall Street — a center of Black business in the Greenwood district of Tulsa, Oklahoma, that was destroyed in a racial attack — “The Good Doctor” actor Hill Harper is launching a fintech app of the same name to empower investors of color.

The Black Wall Street app goes live on June 1 and will offer a digital wallet for peer-to-peer payment and the ability to trade cryptocurrencies like bitcoin and ether.

“What the Black Wall Street was in Tulsa and the Greenwood district is just very empowering,” Harper told CNBC about the once thriving Black business district.

“There were three pillars that created the wealth that was created in the Black Wall Street [in Tulsa],” he said, with the first two being institutional ownership and institutional trust by the community. “Pillar number three was the movement of money or capital within the ecosystem where dollars changed hands 60 to 100 times within a year before it left that Black community.”

Harper, who plays Dr. Marcus Andrews on the ABC medical show, said that dollars now leave the Black community within about seven hours. “I truly believe that unless we start owning our own fintech platforms, our own digital wallets, the dollar will leave within six to seven seconds.” said Harper, who also played Dr. Sheldon Hawkes on CBS’ “CSI: NY.”

The goal of The Black Wall Street app is to give Black and Latinx investors a gateway into the digital transformation of investing and provide financial education to customers on cryptocurrency.

Harper, a Harvard Law School graduate, said he began working with Black web developers last year before the Covid pandemic to build the app, which aims to capitalize on mobile device trends in communities of color.

According to a 2019 report from Pew Research Center, 23% of Black Americans and 25% of Latinx Americans are “smart phone only” internet users compared with 12% of white Americans. The Pew study also showed Black Americans use a smartphone for mobile banking more than any other group.

Harper said he’s hoping to attract “unbanked” consumers and more sophisticated investors looking for a Black-owned site for cryptocurrency purchasing. “It’s not just about transferring money to folks, it’s about transferring information, ideas, and building community, and we see that that is the real value and the real differentiator.”

Najah Roberts, a cryptocurrency expert and owner of Crypto Blockchain Plug — a brick-and-mortar location in Inglewood, California, for cryptocurrency education and purchasing — will serve as the chief visionary officer for the app. As part of the launch, The Black Wall Street is planning a 30-city financial literacy tour that begins on April 30 in Los Angeles, with stops in Tulsa on May 31, a century since the original Black Wall Street was destroyed in a riot by white residents. Roberts will lead the tour and give fractional bitcoin shares to people who sign up.

The Black Wall Street offering enters a growing industry of fintech apps that allow peer-to-peer transfers including Square’s Cash App from PayPal’s Venmo. Visa estimates there is $4 trillion market for apps that replace the use of cash and checks in the United States. Rapper Killer Mike also launched this year the Greenwood app, another digital platform for investors of color.

Click here to read the full article on CNBC.

In ‘Them,’ a Black Family Is Haunted by Real-Life Monsters

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From left, Deborah Ayorinde, Melody Hurd, Shahadi Wright Joseph and Ashley Thomas in “Them,” a new horror series from Amazon. The malevolent force at work here is racism.Credit...

Want to hear a scary story? Here’s one: A family reckoning with a senseless, pervasive horror flees home to what they hope will be a place of safety and prosperity, only to find themselves pursued by that same demented presence.

Evil forces gather — their new home is haunted, too. Bloody visions terrorize them day and night. The dog is poisoned. It’s only a matter of time before the bodies start mounting.

PHOTO: NYTIMES

But in the 10-part Amazon series “Them,” as in any good horror story, there is a twist: The victims are simply a middle-class Black family in the 1950s, seeking a better life in a Los Angeles suburb; the senseless horror is the racism of their white neighbors, who want them out. As the situation devolves, certain terrifying events may be supernatural, or they may be psychological.

And yet, as the series, the first season of which drops on Friday, asks: Does that distinction matter when the danger is ever-present?

“As the sinister elements outside the home ratchet up, that obviously allows for the cracks and fissures within each of them to be infiltrated by something malevolent,” the series’s creator, Little Marvin, said of the Black family at the center of “Them.” “But that malevolent thing, as sure as there is a supernatural component to our story, is deeply rooted in the emotional and psychological lives of these characters.”

It must get hard to believe your own eyes when your senses are being shocked over and over by cruelty, I said.

“Welcome to being Black,” Little Marvin replied.

Welcome, also, to the legacy of codified racism in America, which provided Little Marvin with a conceptual starting point for “Them.” Like the Jordan Peele film “Get Out” or last summer’s HBO hit “Lovecraft Country,” “Them,” which counts Lena Waithe as an executive producer, uses horror-genre conventions as allegorical octane for racist machinery that is all too real. And as “Watchmen” did for the 1921 Tulsa Race Massacre, the show is likely to educate many viewers on an ugly relic of American history that is not widely acknowledged: racially restrictive housing covenants.

If real estate legalese doesn’t sound like fodder for an edge-of-your-seat horror story, consider the implications. Just as government redlining helped create and reinforce segregation by determining who was eligible for mortgages, racial covenants did the same by restricting who was allowed to buy a property at all, finances be damned. A deed might explicitly forbid all owners, present and future, from selling the home to anyone of African or Asian descent. Many older deeds still bear such language

“Any house that was built between 1938 and 1948, in a subdivision, I would be surprised for it not to have racial restrictions in them,” said Carol M. Rose, a professor emeritus at Yale Law School who has studied racial covenants extensively. Those restrictions, Rose explained, which first appeared in the late 19th century, exploded in the early 20th century as farmlands were subdivided for large swaths of new housing

Racial covenants were notoriously common around northern cities like Detroit and Chicago — the Midwest didn’t mandate separate drinking fountains, but segregation and violence were just as real. And California was no different. A Supreme Court decision in 1948, Shelley v. Kraemer, made racial covenants no longer enforceable, creating opportunities for nonwhite families in places like Compton, Calif., where “Them” is set.

Deprived of a legal means of keeping their neighborhoods white, some racists resorted to extralegal methods, which is where the horror really begins. Sometimes the method was vandalism. Others, a Molotov cocktail.

“California is part of the story because people think that California is this sort of easy, breezy racial space, and no, it’s terrible,” said Jeannine Bell, a law professor at Indiana University who wrote “Hate Thy Neighbor,” a book about the violence faced by people in integrating neighborhoods. “It’s terrible for precisely the reasons that this series explores. The methods used in the Midwest were also used in California.”

The Emory family of “Them” flees the South as part of the Great Migration, in which, from 1916 to 1970, an estimated 6 million Black people left the region for cities of the North and West. Like them, the Emorys seek economic opportunity; the father, Henry (Ashley Thomas), is a college-educated engineer and World War II veteran, and he has relatives in the Los Angeles neighborhood of Watts. When he lands a job out West, the family hits the road.

Read the full article at NYtimes.com

Target says it will spend more than $2 billion with Black-owned businesses by 2025

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People stand in line at Target in Kips Bay during the coronavirus pandemic on April 14, 2020 in New York City.

By Melissa Repko, CNBC

Target said it will hire more Black-owned companies, launch a program to identify and support promising minority entrepreneurs and add products from more than 500 Black-owned brands to its shelves or website.

Altogether, the discounter said Wednesday, it will spend more than $2 billion with Black-owned businesses by 2025.

“We have a rich history of working with diverse businesses, but there’s more we can do to spark change across the retail industry, support the Black community and ensure Black guests feel welcomed and represented when they shop at Target,” chief growth officer Christina Hennington said in a news release.

The killings of George Floyd, Breonna Taylor, Ahmaud Arbery and protests across the country have ratcheted up pressure on corporate leaders to advance racial equity and do more than simply cut a check — or risk losing business. The uneven death toll of the coronavirus pandemic and financial toll of the recession also spotlighted the country’s sharp racial disparities with health care and economic opportunity.

Floyd was killed in Target’s hometown of Minneapolis, now the site of the murder trial for the police officer who kneeled on Floyd’s neck. One Target store, located near the site of Floyd’s death, had to be completely rebuilt and some of its other stores were damaged during rioting.

Companies have spoken out about diversity and inclusion as consumers pay attention and some direct their dollars toward businesses that align with their values. Generation Z — the group of teens and early 20-somethings who are aging into shopping and establishing relationships with brands — care more about social justice compared with former generations, according to an annual survey of teens by Piper Sandler released Wednesday. Teens surveyed by the firm ranked racial equity as their most important political and social issue, followed by the environment and Black Lives Matter.

Over the past year, major retailers like Nike, Walmart and Ulta Beauty have rolled out their own pledges, such as devoting more shelf space to Black-owned products, evaluating how they hire and promote employees, featuring more Black people in their ads and reducing the number of police or security in stores to prevent racial profiling. A growing number of retailers, including Macy’s, Sephora and Gap, have signed on to the 15 Percent Pledge, which aims to make Black-owned products on store shelves proportional to the country’s Black population.

Among Target’s changes, the retailer said it will more actively seek out advertising firms, suppliers, construction companies and other kinds of businesses that are Black-owned. It said it will create a program called Forward Founders for early-stage start-ups led by Black entrepreneurs to help them develop, test and scale products to sell at mass retailers like Target. It will be modeled off of Target Accelerators, a program for start-ups that the retailer uses to foster up-and-coming brands and ultimately, to sell fresh and exclusive products that attract customers and help it differentiate from competitors.

In some categories, such as beauty, Target said it already has 50 Black-owned and Black-founded brands — but would like to add more for other kinds of merchandise.

Click here to read the full article on CNBC.

THE WEEKND DONATES $1 MIL FOR 2 MILLION MEALS … To Help Ethiopians

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A headshot of the weeknd from a concert of his with the WFP logo next to him

By TMZ

The Weeknd is getting involved with the military conflict in Ethiopia — donating a million dollars, which will provide food for people who need it there.

The singer, who is of Ethiopian descent himself, partnered with World Food Program USA — a UN World Food Programme affiliate — to send over a million bucks toward relief efforts in the North African country … which has been mired with bloodshed and chaos for months. Specifically, Abel’s money will provide the equivalent of 2 million meals for citizens there who have been caught in the middle of the feuding factions … many of whom are running out of resources, like food.

TW says, “My heart breaks for my people of Ethiopia as innocent civilians ranging from small children to the elderly are being senselessly murdered and entire villages are being displaced out of fear and destruction.” He goes on to encourage others who can to donate as well.

If you haven’t heard, Ethiopia has been embroiled in a bitter battle with its own people since November — when Prime Minister Abiy Ahmed ordered an attack on the Tigray People’s Liberation Front — the ruling party in the northern part of the region.

Click here to read the full article on TMZ!

Hennessy Announces $1MM Acceleration Fund to Champion Next Generation of Black Entrepreneurs

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Narrated by legendary recording artist, philanthropist and venture capitalist Nas, new “Dear Destiny” focuses on Black excellence, referencing the vision, ambition, creation and evolution of Black Wall Street from Tulsa 1921 into the year 2021.

SOURCE Hennessy

NEW YORKMarch 29, 2021 /PRNewswire/ — Hennessy, the world’s best-selling cognac, today unveils the “Never Stop Never Settle Society,” a comprehensive growth accelerator co-created with the Marcus Graham Project (MGP) to ensure a more equitable landscape for Black entrepreneurship. To introduce the initiative, new “Dear Destiny” creative produced by UNINTERRUPTED and featuring hip-hop legend Nas debuted on March 27th during the 52nd NAACP Image Awards on BET, placing the spotlight on the legacy of Black Wall Street.

“The ‘Never Stop Never Settle Society’ builds on Hennessy’s long-standing commitment to Black communities and ongoing mission to champion cultural diversity by pushing the limits of potential for Black entrepreneurs,” says Jasmin Allen, Senior Vice President, Hennessy US. “We aim to expand on that legacy in the most impactful and meaningful ways by providing access to capital and resources to those demonstrating the ability to reshape Black communities through social impact.”

PHOTO : PRNewswire

With respect to past models of community-built success including Tulsa’s Greenwood District, the “Never Stop Never Settle Society” was instituted to provide Black entrepreneurs with high-impact funding, resources, and infrastructure to further their journeys and ultimately transform communities.

Hennessy will accept applications starting Tuesday, April 6th, awarding a number of member benefits to qualified applicants:

  • Lump sum funds in the amount of $50K will be administered to selected ventures with potential to reshape the world through social impact
  • Access to The Gathering Spot Connect, a Black-owned digital hub offering networking, education, and business development resources
  • Growth opportunities at the program’s physical footprint and state-of-the-art office at Moët Hennessy’s headquarters in New York City. Debuting late 2021, the space will offer scheduled access to a content studio, along with a compelling slate of educational programming and leadership engagement for business mentorship

Moët Hennessy USA executives and partners including the Marcus Graham Project will co-create program elements, evaluate proposals, and select the curated group of Black entrepreneurs whose visions will be accelerated. Leadership will also further aid member journeys, helping to evolve early business ventures over time.

“Some of the most powerful leaders and creators in the Black community are entrepreneurs creating jobs, rich legacies, and taking ownership of new paths. Access to capital resources to allow for authentic growth has traditionally been a barrier,” says Lincoln Stephens, Co-Founder and CEO of the Marcus Graham Project (MGP). “For over a century now, Hennessy’s participation in the Black community has transcended typical corporate action, and I’m excited to be part of this next chapter that substantively uplifts entrepreneurship as a means towards closing the wealth disparity.”

As one of the first corporate sponsors of the NAACP, Hennessy unveiled the program during the 52nd NAACP Image Awards, bringing its history with the organization full circle. Legendary recording artist, philanthropist, and venture capitalist Nas presented the first-ever “Never Stop, Never Settle” Award, a celebration of Black entrepreneurship, to former WNBA player-turned-owner and executive, Renee Montgomery. The evening also kicked off a cross-platform rollout for “Dear Destiny,” Hennessy’s new creative featuring the Grammy Award Winning artist and created and produced by UNINTERRUPTED, referencing the vision, ambition, creation, and evolution of Black Wall Street from Tulsa 1921 into the year 2021.

“A narrative about family, legacy, entrepreneurship and empowerment, Dear Destiny is a message to my daughter Destiny, and in many ways, the entire Black community. Inspired by Tulsa’s hub of cultural activity and community-built success, it pays homage to the Black creativity and wealth that thrived during this time in history,” says voiceover artist and Hennessy Ambassador, Nas. “Nearing the 100-year anniversary of the Tulsa Massacre, I believe the powerful spirit of Black Wall Street is still strong and can be revived with programs like Hennessy’s “Never Stop Never Settle Society.”

Applications for Hennessy’s “Never Stop Never Settle Society” will open on Tuesday, April 6th. For additional information on eligibility and membership benefits, please visit NeverStopNeverSettle.org.

ABOUT HENNESSY
The leader in Cognac, the Maison Hennessy has shined around the world with its exceptional blends for more than 250 years. Built on founder Richard Hennessy’s spirit of conquest, the brand is present in more than 160 countries. Based in the heart of the Charente region, Hennessy is also a steadfast pillar of the regional economy, the standard-bearer for a sector rich in expertise. The House’s success and longevity are rooted in the excellence of its cognacs, each of which is born of a unique process of transmission from generation to generation. The first wine and spirits house to be certified ISO 14001, Hennessy unites its capacity for innovation and the support of all of its partners to protect this exceptional area. As the crown jewel of the LVMH Group, Hennessy is a major contributor to French international trade, with 99% of production sold in export, and a worldwide ambassador for the French art de vivre.

Hennessy is imported and distributed in the U.S. by Moët Hennessy USA. Hennessy distills, ages and blends spanning a full range: Hennessy V.S, V.S.O.P Privilège, Hennessy Black, X.O, Privé, Paradis, Paradis Imperial and Richard Hennessy. Imported Cognac Hennessy® 40% Alc./Vol. (80º), ©2021 Imported by Moët Hennessy USA, Inc., New York, NY.

ABOUT MARCUS GRAHAM PROJECT (MGP)
Founded nearly 15 years ago, the Marcus Graham Project (MGP) is a national organization focused on developing the next generation of diverse leaders in the advertising, media, and marketing industries through training, mentorship, and professional development opportunities to ensure the industry is more inclusive to better reflect the diverse world we live in.

ABOUT UNINTERRUPTED, PART OF THE SPRINGHILL COMPANY
The SpringHill Company is a global consumer and entertainment brand created to empower greatness in every individual. The SpringHill Company unites three companies built by LeBron James and Maverick Carter: UNINTERRUPTED, the athlete empowerment media, experiences  and consumer product company, SpringHill Entertainment, the premium scripted and unscripted film and television production company and The Robot Company, the brand and culture consultancy. With a dynamic and diverse team committed to creating the most culturally inspired content, entertainment and products, The SpringHill Company is built to be the defining brand for a new generation.

Supporting an inclusive economy: small businesses, Black and Latinx entrepreneurs, and their intersection

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Business man analyzing investment graph and discussing plan in m

For many of us, connections to small businesses are deeply personal—your local barber shop or family dentist, the spot for the best pizza in town, the small contractor you call to fix your leak.

Businesses like these make up the fabric of our communities—but many don’t realize what a big role they play, collectively, in the U.S. economy.

However, they face unique challenges even in the strongest of times and now, amidst the covid-19 pandemic, many small businesses are struggling to survive.

The situation at hand

JPMorgan Chase Institute research found that prior to the covid-19 pandemic, typical small businesses had only enough cash on hand to keep the lights on for two to three weeks. This was even more pronounced for small businesses in majority-Black and Latinx communities, where the typical business had only one to two weeks of reserves.

Interestingly, researchers found that in the Fall of 2020, many small businesses actually had cash reserves at higher levels than normal. This seems like great news—but when you look under the hood, the situation is more precarious. [3]

There are two factors to explain the elevated reserves: 1) an injection of cash from federal and local policy shored up many of the businesses likely to face a shortfall, and 2) a decision many businesses made to delay or dial back payments on things like upkeep of key assets, limiting wages or employee benefits, or other choices that may not be financially healthy in the months or years ahead.[4]

So, while cash balances are larger than usual, they may not be enough for small businesses to continue to survive in these tumultuous times. Expenses have already begun to outpace revenue. This trend could have a disproportionate impact on Black- and Latinx-owned companies, that tend to experience lower revenues and profit margins compared to white-owned counterparts.[5]

Help in many forms

Many small businesses face similar challenges: lack of access to capital and resources to grow. However, businesses owned by people of color and other underserved groups face these challenges more acutely. For example, according to the JPMorgan Chase Institute, Black, Latinx and women-owned small businesses are underrepresented among firms with substantial external financing. While there are no simple solutions, business, government and nonprofit leaders should work together to support, sustain and grow these critical enterprises.

For example, December’s $900 billion stimulus package included a second infusion of PPP funds, with $12 billion set aside for Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs).

While the terms might be unfamiliar, you likely already know your local CDFI or MDI. Some local banks or credit unions might fall into this category.

An MDI is a bank whose ownership or leadership is made up of a majority of people of color. CDFIs are community lenders, which primarily finance in low- and moderate-income communities and focus on small businesses, as well as affordable housing and nonprofits. Both MDIs and CDFIs earn these designations from the federal government, due to the vital financial services they provide in communities that are often underserved. CDFIs in particular are designed to meet these needs by offering capital and guidance to help ensure the success of vulnerable businesses. We think that’s a winning combination.

But MDIs and CDFIs need banks to provide additional capital to fund this critical work in communities. Here’s where JPMorgan Chase comes in.

Part of the solution

We believe that business has a role to play in addressing societal issues, along with business and community leaders. JPMorgan Chase is committed to building a more inclusive economy and our support for small business, especially in Black and Latinx communities, is a critical element of this work.

That’s why, in February, the firm announced new initiatives focused on providing MDIs and diverse-led CDFIs with additional access to capital, connections to institutional investors, specialty support for Black-led commercial projects, and mentorship and training opportunities. Initial investments and commitments to minority-owned and Black-led MDIs included Liberty Bank and Trust, M&F Bank, Carver Federal Savings Bank and Broadway Federal Bank. The firm also committed $42.5 million to expand the Entrepreneurs of Color Fund to reach new U.S. cities in 2021, providing loans and technical assistance to minority-owned small businesses in collaboration with LISC and a network of CDFIs. Since its inception in Detroit in 2015, the Entrepreneurs of Color Fund has deployed more than $32 million to Black, Latinx and other underserved entrepreneurs, including Jimmie Williams from Chicago, who received a small business loan to scale his landscaping company. In addition, we continue our direct support for small business, including through PPP.

This work is part of the $30 billion commitment over five years we announced in October 2020 to provide economic opportunity to underserved communities to help close the racial wealth divide. The firm is continuing to put this commitment into practice by combining our business, policy, data and philanthropic expertise.

We are committing $350 million over five years to help grow Black, Latinx, woman-owned and other underserved small businesses. This includes:

Philanthropy, low-cost loans and direct equity investments: Supporting the signature Ascend Program, helping build the capacity of diverse-led nonprofits across the globe to more effectively support entrepreneurs, and investing in early-stage businesses to help companies drive economic opportunity, including in Black and Latinx communities. Last month we made our initial direct equity investment in Bitwise Industries.
Policy: Releasing new data-driven policy solutions such as increasing resources for the Small Business Administration (SBA) Microloan program, which provides loans of up to $50,000 to help small businesses. The firm will support advancing these policy reforms to help address the immediate and long-term challenges small business owners face.
Supplier diversity: Spending an additional $750 million with Black and Latinx suppliers, and co-investing up to $200 million in middle market businesses that are or will be minority owned via a new initiative with Ariel Alternatives.
Wrap-around support: Launching a nationwide Minority Entrepreneurs program to help entrepreneurs in historically underserved areas access 1:1 coaching, technical assistance and capital.

Together, these commitments will help reduce barriers to capital access and support the growth of thousands of additional underserved businesses.

Read the full article on the Washington Post.

Beyonce Makes History Winning The Most NAACP Image Awards

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Beyonce performing in a rose gold off-the-shoulder gown with built in cape from Ralph and Russo’s Fall 2018 couture collection

Beyonce has made history at the 2021 NAACP Image Awards.

The music icon now has the most NAACP Image Awards in history after she racked up four awards for the 52nd event, NAACP president and CEO Derrick Johnson announced on Saturday.

The NAACP Image Awards hosted a series of non-televised virtual events recognizing winners in over 60 categories in the five days leading up to its televised ceremony on Saturday. The two-hour virtual event, which was hosted by Anthony Anderson, aired live across ViacomCBS networks including BET and CBS.

Beyonce took home wins in the Outstanding Female Artist, Outstanding Hip Hop/Rap Song, Outstanding Duo, Group or Collaboration (Traditional), and Outstanding Duo, Group or Collaboration (Contemporary) categories during a virtual event on Thursday.

Johnson celebrated Beyoncé’s achievement on Twitter, writing, “Congratulations
@Beyonce on winning the most #NAACPImageAwards in history!”

Representatives for the NAACP Image Awards did not immediately return requests to confirm Beyoncé’s total tally of wins, but the “Black Parade” artist has won at least 20 Image Awards as a solo artist since the 2004 ceremony when she first won the Entertainer of the Year award. She won that award again in 2019. Her former group, Destiny’s Child, racked up a handful of wins in the Outstanding Duo or Group category in the early to mid-2000s.

Beyoncé has already made music award history this month.

She won four awards at the Grammys on March 14, bringing her total wins to 28 ― the most Grammys won by a female artist.

Click here to read the full article on HuffPost.

Dwayne Johnson reveals new ‘Black Adam’ release date

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Animated photo of Dwayne Johnson as a super hero surrounded by electricity rays.

By Toyin Owoseje, CNN

There have been some roadblocks along the way — but Dwayne Johnson is one step closer to living his dream of being a superhero. The Hollywood actor and former wrestler has announced that his DC Comics movie “Black Adam” will now debut in July 2022.

Johnson, who plays the powerful villain attempting to redeem himself, took to Instagram on Sunday to share video footage from Times Square, showing an animated graphic of the movie plastered across the New York landmark’s digital screens.
As the premiere date appears in flashing neon lights, an ominous voice-over declares: “The hierarchy of power in the DC Universe is about to change.”

“A disruptive and unstoppable global force of a message from the man in black himself. ‘Black Adam’ is coming July 29, 2022,” the caption on the Instagram post reads.

“Black Adam” will mark Johnson’s debut as the DC character, who is the enemy of Shazam — played by Zachary Levi in the DC Extended Universe.

Revealing the project in 2019, Johnson said the role of Black Adam was “unlike any other I’ve ever played in my career.”

“As a kid, Superman was the hero I always wanted to be. But, a few years into my fantasy, I realized that Superman was the hero, I could never be. I was too rebellious. Too rambunctious. Too resistant to convention and authority,” he wrote in an Instagram post.

He added that Black Adam is “blessed by magic with the powers equal to SUPERMAN, but the difference is he doesn’t toe the mark or walk the line. He’s a rebellious, one-of-a-kind superhero, who’ll always do what’s right for the people – but he does it his way.

Click here to read the full article on CNN.

Macy’s Celebrates Black Creatives With Icons of Style

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The group of black honorees stand posing fiercely for the camera

-Macy’s celebrates Black creatives with today’s launch of Icons of Style, a collaboration with five Black visionaries to help move the fashion world forward. Featuring exclusive designs across ready-to-wear, men’s, and shoes by Zerina Akers, Misa Hylton, Aminah Abdul Jillil, Allen Onyia and Ouigi Theodore for brands found only at Macy’s, each creative artfully designed a fashion-forward capsule of must-have spring items, inspired by their unique perspective and dynamic style. Icons of Style is available now on macys.com and select store locations nationwide.

Zerina Akers for Bar III is designed with functionality, versatility, and a touch of statement making moments in mind. The capsule consists of mixed media suiting, chain link embellished body suits, strong shoulder knit dresses and a new play on proportion with the classic sweatshirt. True to the Bar lll aesthetic, the capsule is the perfect mix of both feminine and modern components.

Photo: Business Wire

“This collection is probably the most special because it is my first design collaboration. Through my styling work I have designed many things but never something under my own name. This is very special,” said Zerina Akers.

Misa Hylton for I.N.C. International Concepts

Misa Hylton for I.N.C. International Concepts is inspired by her personal style and love for fashion. The collection features bold, vibrant prints that take form in feminine suiting, printed blouses, and her love of the kimono; a symbol of her Black and Japanese heritage. Known for creating iconic looks for some of the music industry’s biggest stars, Misa’s extraordinary vision pairs well with I.N.C.’s focus on representing the most current trends.

“My designs vibrate on a high frequency. They bring happiness and excitement to the people who see them and want to wear them,” said Misa Hylton.

Aminah Abdul Jillil for I.N.C. International Concepts

Extending her love for creative self-expression and bold fashion moments, Aminah Abdul Jillil for I.N.C. International Concepts brings forth the power of the statement heel. Using her performing arts background as inspiration, Aminah mixes unexpected shapes and dramatic details to spark confidence in every step. Using gold hearts and chunky chains as signature details, the collection features a breadth of styles that are timeless, versatile, and collectible.

“This collaboration is exciting to me because it means for me, personally that dreams come true. That hard work pays off. That being different and not like everyone else is ok,” said Aminah Abdul Jillil.

Allen Onyia for I.N.C. International Concepts

Allen Onyia for I.N.C. International Concepts pays homage to Macy’s traditions as a leading department store incorporating iconic details with a modern, trend-forward look. The men’s collection is a nod to his own personal style while focused on accessible design. Allen effortlessly uses his exceptional eye to combine dynamic use of colors, patterns, and silhouettes into instantly covetable items all geared towards statement making style.

“This is a collection that celebrates this amazing opportunity Macy’s has provided me, and I wanted to put that celebration and feeling back into the collection and pay homage,” said Allen Onyia.

Read the full article at businesswire.

 

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