Our Black Year (42 page)
Authors: Maggie Anderson
84
Canada and Turkey, and above Australia and Poland.
. . . Ibid., 248.
Canada and Turkey, and above Australia and Poland.
. . . Ibid., 248.
84
African American buying power equal to that of Canada.
... Ibid., 249.
African American buying power equal to that of Canada.
... Ibid., 249.
84
pennies on the Black dollar” to the Black community.
... Ibid., 243.
pennies on the Black dollar” to the Black community.
... Ibid., 243.
85
after-tax income of $75, 000, or roughly 2.65 million families
. . . “Annual Social and Economic (ASEC) Supplement,” US Census Bureau,
http://www.census.gov/hhes/www/cpstables/032010/hhinc/new01_006.htm
.
after-tax income of $75, 000, or roughly 2.65 million families
. . . “Annual Social and Economic (ASEC) Supplement,” US Census Bureau,
http://www.census.gov/hhes/www/cpstables/032010/hhinc/new01_006.htm
.
85
twice the number of existing Subways in the world.)
. . . Addy et al., “The Empowerment Experiment,” 247.
twice the number of existing Subways in the world.)
. . . Addy et al., “The Empowerment Experiment,” 247.
85
can create 551,724 to 896,551 new jobs.”
. . . Ibid., 247.
can create 551,724 to 896,551 new jobs.”
. . . Ibid., 247.
86
The answer: $32.2 billion.
... Ibid., 243.
Chapter 6The answer: $32.2 billion.
... Ibid., 243.
96
Baby Phat Line, and Sean “Diddy” Combs' Sean John line.
... “Blacks in the Fashion Industry,”
Maxizip.com
, January 29, 2010,
http://maxizip.com/2010/11/blacks-in-the-fashion-industry/
.
Baby Phat Line, and Sean “Diddy” Combs' Sean John line.
... “Blacks in the Fashion Industry,”
Maxizip.com
, January 29, 2010,
http://maxizip.com/2010/11/blacks-in-the-fashion-industry/
.
96
few big players because that business is challenging.”
. . . Gary Lampley, interview with author, February 4, 2011.
few big players because that business is challenging.”
. . . Gary Lampley, interview with author, February 4, 2011.
96
has a great deal of talent but lacks access to capital. ”
. . . Ibid.
has a great deal of talent but lacks access to capital. ”
. . . Ibid.
97
amassing of capital comes from generations. ”
. . . Steven Rogers, interview with author, January 31, 2011.
amassing of capital comes from generations. ”
. . . Steven Rogers, interview with author, January 31, 2011.
97
the chance for that intergenerational wealth. ”
. . . Ibid.
the chance for that intergenerational wealth. ”
. . . Ibid.
97
wealth among Whites and Asians is eleven times higher.
... Fairlie and Robb,
Race and Entrepreneurial Success
, 3.
wealth among Whites and Asians is eleven times higher.
... Fairlie and Robb,
Race and Entrepreneurial Success
, 3.
98
1 to 1.7 percent higher than what White-owned firms paid.
. . . David G. Blanchflower, Phillip B. Levine, and David J. Zimmerman,
Discrimination in the Small Business Credit Market
(Cambridge, MA: National Bureau of Economic Research, 2002).
Chapter 71 to 1.7 percent higher than what White-owned firms paid.
. . . David G. Blanchflower, Phillip B. Levine, and David J. Zimmerman,
Discrimination in the Small Business Credit Market
(Cambridge, MA: National Bureau of Economic Research, 2002).
119
of the White community and the Black community. ”
. . . Clarence B. Jones, interview with author, October 8, 2010.
of the White community and the Black community. ”
. . . Clarence B. Jones, interview with author, October 8, 2010.
119
and the capital assets in the White community. ”
. . . Ibid.
and the capital assets in the White community. ”
. . . Ibid.
120
who were always economically disadvantaged,” Jones said.
. . . Ibid.
Chapter 8who were always economically disadvantaged,” Jones said.
. . . Ibid.
130
only comfort we should expect will be in an afterlife. ”
. . . Stephens,
Talking Dollars and Making Sense
, 20.
only comfort we should expect will be in an afterlife. ”
. . . Stephens,
Talking Dollars and Making Sense
, 20.
131
it is time to claim it as being long past due. ”
. . . Ibid., 22.
it is time to claim it as being long past due. ”
. . . Ibid., 22.
131
financial problems that exist in the Black community. ”
. . . Ibid., 16.
financial problems that exist in the Black community. ”
. . . Ibid., 16.
131
anything that can be considered racially divisive. ”
. . . Dr. Juliet Walker, interview with author, October 6, 2010.
anything that can be considered racially divisive. ”
. . . Dr. Juliet Walker, interview with author, October 6, 2010.
132
what they've acquired than some of the older ones. ”
. . . Jones interview, October 8, 2010.
what they've acquired than some of the older ones. ”
. . . Jones interview, October 8, 2010.
134
What people chose to do with that remains to be seen. ”
. . . Ted Gregory, “Adding Up Family's Year Buying Black,”
Chicago Tribune
, January 11, 2010.
What people chose to do with that remains to be seen. ”
. . . Ted Gregory, “Adding Up Family's Year Buying Black,”
Chicago Tribune
, January 11, 2010.
139
benefits of reforms can further compound resistance.”
. . . Raghuram Rajan, “Crabs in a Bucket: Why Constituencies Are as Important as Constitutions in Battling Underdevelopment,”
Finance & Development
43, no. 2 (June 2006): 4.
benefits of reforms can further compound resistance.”
. . . Raghuram Rajan, “Crabs in a Bucket: Why Constituencies Are as Important as Constitutions in Battling Underdevelopment,”
Finance & Development
43, no. 2 (June 2006): 4.
139
and I'll never have anything, so why try?”
. . . Stephens,
Talking Dollars and Making Sense
, 22.
and I'll never have anything, so why try?”
. . . Stephens,
Talking Dollars and Making Sense
, 22.
139
whites drove blacks out of their trades.”
. . . Jessie Carney Smith, ed.,
The Encyclopedia of African American Business
(Westport, CT: Greenwood Press, 2006), xxviii.
whites drove blacks out of their trades.”
. . . Jessie Carney Smith, ed.,
The Encyclopedia of African American Business
(Westport, CT: Greenwood Press, 2006), xxviii.
140
highly suspicious charges of raping White women.
... Walker interview, October 6, 2010.
highly suspicious charges of raping White women.
... Walker interview, October 6, 2010.
140
as punishment for those dubious allegations of rape.
... Arthur F. Raper, “Lynchings and What They Mean,” Southern Commission on the Study of Lynching, 1931.
as punishment for those dubious allegations of rape.
... Arthur F. Raper, “Lynchings and What They Mean,” Southern Commission on the Study of Lynching, 1931.
140
political competition from their poorer Black neighbors.
... Raper, “Lynchings and What They Mean.”
political competition from their poorer Black neighbors.
... Raper, “Lynchings and What They Mean.”
140
White tension over economic competition from Blacks.
... Gregory Mixon and Clifford Kuhn, “Atlanta Race Riot of 1906,” The New Georgia Encyclopedia,
http://www.georgiaencyclopedia.org/nge/Article.jsp?id=h-3033
; Steven Essig, “Race Riots,” Encyclopedia of Chicago,
http://encyclopedia.chicagohistory.org/pages/1032.html
.
White tension over economic competition from Blacks.
... Gregory Mixon and Clifford Kuhn, “Atlanta Race Riot of 1906,” The New Georgia Encyclopedia,
http://www.georgiaencyclopedia.org/nge/Article.jsp?id=h-3033
; Steven Essig, “Race Riots,” Encyclopedia of Chicago,
http://encyclopedia.chicagohistory.org/pages/1032.html
.
141
beauty supply industry, which generates over $9 billion a year.
... Jeff Stilson,
Good Hair
, Roadside Attractions, Los Angeles, CA, 2009.
beauty supply industry, which generates over $9 billion a year.
... Jeff Stilson,
Good Hair
, Roadside Attractions, Los Angeles, CA, 2009.
141
people who are inflicted with their own sense of inferiority.”
. . . Jones interview, October 8, 2010.
Chapter 10people who are inflicted with their own sense of inferiority.”
. . . Jones interview, October 8, 2010.
170
of the average sales for White-owned businesses.
... Robert W. Fairlie and Alicia M. Robb “Why Are Black-Owned Businesses Less Successful than White-Owned Businesses? The Role of Families, Inheritances, and Business Human Capital,”
Journal of Labor Economics
25, no. 2 (2007): 293.
of the average sales for White-owned businesses.
... Robert W. Fairlie and Alicia M. Robb “Why Are Black-Owned Businesses Less Successful than White-Owned Businesses? The Role of Families, Inheritances, and Business Human Capital,”
Journal of Labor Economics
25, no. 2 (2007): 293.
170
compared to 30.4 percent for White-owned firms.
. . . Ibid.
compared to 30.4 percent for White-owned firms.
. . . Ibid.
170
40 percent of all Black-owned firms had negative profits.
. . . Ibid.
40 percent of all Black-owned firms had negative profits.
. . . Ibid.
170
Black firms were one-half that of white firms.
... Ibid.
Black firms were one-half that of white firms.
... Ibid.
171
a family member's business before starting their own.
... Ibid., 290.
a family member's business before starting their own.
... Ibid., 290.
171
For White households, that figure was nearly $98,000.
. . . Lynnette Khalfani-Cox, “The State of Wealth in Black America,”
Ebony
(August 2011),
http://stage.ebonyjet.com/CurrentIssue/Aug2011_The_State_of_Black_Wealth_in_America.aspx
.
For White households, that figure was nearly $98,000.
. . . Lynnette Khalfani-Cox, “The State of Wealth in Black America,”
Ebony
(August 2011),
http://stage.ebonyjet.com/CurrentIssue/Aug2011_The_State_of_Black_Wealth_in_America.aspx
.
171
27.4 percent of non-minority-owned businesses.
... Ying Lowrey, “Dynamics of Minority-Owned Employer Establishments 1997â2001” US Small Business Administration, Office of Advocacy, February 2005,
http://archive.sba.gov/advo/research/rs251tot.pdf
, 1.
27.4 percent of non-minority-owned businesses.
... Ying Lowrey, “Dynamics of Minority-Owned Employer Establishments 1997â2001” US Small Business Administration, Office of Advocacy, February 2005,
http://archive.sba.gov/advo/research/rs251tot.pdf
, 1.
171
access to capital and less management and technical training.
. . . Alicia M. Robb and Robert W. Fairlie, “Access to Financial Capital Among U.S. Businesses: The Case of African-American Firms,”
The Annals of the American Academy of Political and Social Sciences
613, no. 1 (September 2007): 47â72; Steve Bergs-man, “Accounting for Small Businesses,”
Black Enterprise
(November 1992): 37,
http://books.google.com/books?id=0Qx9M76jn7gC&pg=PA37&lpg=PA37&dq=lack+of+managerial+skills+in+Black-owned+businesses&source=bl&ots=Ey2TXv-Syc&sig=V8gZAI4IX4OuVycFcdK3LahiJ1Y&hl=en&ei=aOoeTo3lLuzLsQKSwOC1Bw&sa=X&oi=book_result&ct=result&resnum=2&ved=0CCEQ6AEwAQ#v=onepage&q=lack%20of%20managerial%20skills%20in%20Black-owned%20businesses&f=false
.
access to capital and less management and technical training.
. . . Alicia M. Robb and Robert W. Fairlie, “Access to Financial Capital Among U.S. Businesses: The Case of African-American Firms,”
The Annals of the American Academy of Political and Social Sciences
613, no. 1 (September 2007): 47â72; Steve Bergs-man, “Accounting for Small Businesses,”
Black Enterprise
(November 1992): 37,
http://books.google.com/books?id=0Qx9M76jn7gC&pg=PA37&lpg=PA37&dq=lack+of+managerial+skills+in+Black-owned+businesses&source=bl&ots=Ey2TXv-Syc&sig=V8gZAI4IX4OuVycFcdK3LahiJ1Y&hl=en&ei=aOoeTo3lLuzLsQKSwOC1Bw&sa=X&oi=book_result&ct=result&resnum=2&ved=0CCEQ6AEwAQ#v=onepage&q=lack%20of%20managerial%20skills%20in%20Black-owned%20businesses&f=false
.
172
black-owned firms are associated with less successful businesses.”
. . . Fairlie and Robb, “Why Are Black-Owned Businesses Less Successful than White-Owned Businesses?” 309.
black-owned firms are associated with less successful businesses.”
. . . Fairlie and Robb, “Why Are Black-Owned Businesses Less Successful than White-Owned Businesses?” 309.
172
the rate for White business owners was 23.3 percent.
... Ibid., 296.
the rate for White business owners was 23.3 percent.
... Ibid., 296.
172
general and specific business human capital.”
. . . Ibid., 312.
general and specific business human capital.”
. . . Ibid., 312.
178
Foster, founder of the Negro National Baseball League.
... “History of Bronzeville,” Bronzeville Area Residents and Commerce Council,
http://www.thebarcc.org/history.php
.
Foster, founder of the Negro National Baseball League.
... “History of Bronzeville,” Bronzeville Area Residents and Commerce Council,
http://www.thebarcc.org/history.php
.
178
accumulated real estate holdings totaling $100 million.
... John McWhorter, “Toward a Usable Black History,”
City Journal
(Summer 2001),
http://www.city-journal.org/html/11_3_toward_a_usable.html
.
accumulated real estate holdings totaling $100 million.
... John McWhorter, “Toward a Usable Black History,”
City Journal
(Summer 2001),
http://www.city-journal.org/html/11_3_toward_a_usable.html
.
178
Bronzeville, rose 67 and 192 percent, respectively. ”
. . . Derek S. Hyra,
The New Urban Renewal: The Economic Transformation of Harlem and Bronzeville
(Chicago: University of Chicago Press, 2008), 43.
Bronzeville, rose 67 and 192 percent, respectively. ”
. . . Derek S. Hyra,
The New Urban Renewal: The Economic Transformation of Harlem and Bronzeville
(Chicago: University of Chicago Press, 2008), 43.
178
the White population grew to 4 percent.
. . . Ibid., 167.
the White population grew to 4 percent.
. . . Ibid., 167.
178
the White population is now closer to 6.6 percent.
. . . “Douglas Neighborhood,” Great Cities Institute Neighborhoods at the University of Illinois at Chicago,
http://www.uicni.org/page.php?section=neighborhoods&subsection=douglas
.
the White population is now closer to 6.6 percent.
. . . “Douglas Neighborhood,” Great Cities Institute Neighborhoods at the University of Illinois at Chicago,
http://www.uicni.org/page.php?section=neighborhoods&subsection=douglas
.
179
individuals who have lived in these communities.”
. . . Kelly Virella, “Beyond Burnham: Black and White, Seeing Red All Over,”
The Chicago Reporter
, August 31, 2009, 5,
http://www.chicagoreporter.com/index.php/c/Cover_Stories/d/Black_And_White,_Seeing_Red_All_Over
.
individuals who have lived in these communities.”
. . . Kelly Virella, “Beyond Burnham: Black and White, Seeing Red All Over,”
The Chicago Reporter
, August 31, 2009, 5,
http://www.chicagoreporter.com/index.php/c/Cover_Stories/d/Black_And_White,_Seeing_Red_All_Over
.
179
that those merchants are following the money.
... Ibid., 3.
that those merchants are following the money.
... Ibid., 3.
179
once-impoverished neighborhoods like Bronzeville.
. . . Hyra,
The New Urban Renewal,
130.
once-impoverished neighborhoods like Bronzeville.
. . . Hyra,
The New Urban Renewal,
130.
179
Sheryll Cashin calls “integration exhaustion. ”
. . . Sheryll Cashin,
The Failures of Integration: How Race and Class Are Undermining the American Dream
(New York: PublicAffairs, 2004), 5.
Sheryll Cashin calls “integration exhaustion. ”
. . . Sheryll Cashin,
The Failures of Integration: How Race and Class Are Undermining the American Dream
(New York: PublicAffairs, 2004), 5.
179
also influence the changes that occur in a neighborhood.
. . . Hyra,
The New Urban Renewal
, 147.
also influence the changes that occur in a neighborhood.
. . . Hyra,
The New Urban Renewal
, 147.
179
property values and the displacement of the poor. ”
. . . Ibid., 149.
property values and the displacement of the poor. ”
. . . Ibid., 149.
180
the neediest to other high-poverty neighborhoods.
... Ibid., 146.
the neediest to other high-poverty neighborhoods.
... Ibid., 146.
180
“historic preservation and racial heritage tourism.”
. . . Michelle Boyd, “The Downside of Racial Uplift: The Meaning of Gentrification in an African American Neighborhood,”
City & Society
17, no. 2 (2005): 271.
“historic preservation and racial heritage tourism.”
. . . Michelle Boyd, “The Downside of Racial Uplift: The Meaning of Gentrification in an African American Neighborhood,”
City & Society
17, no. 2 (2005): 271.
180
a version of the “rising tide lifts all boats” aphorism.
. . . Ibid., 274, 276.
a version of the “rising tide lifts all boats” aphorism.
. . . Ibid., 274, 276.
181
cost of neighborhood goods and services,” Boyd notes.
. . . Ibid., 281â83.
cost of neighborhood goods and services,” Boyd notes.
. . . Ibid., 281â83.
181
Whites and neighborhoods looking to catch a break.
. . . Mary Pattillo, “Introduction,”
Black on the Block: The Politics of Race and Class in the City
(Chicago: University of Chicago Press, 2007).
Whites and neighborhoods looking to catch a break.
. . . Mary Pattillo, “Introduction,”
Black on the Block: The Politics of Race and Class in the City
(Chicago: University of Chicago Press, 2007).
181
simultaneously debates over what it means to be black. ”
. . . Ibid.
simultaneously debates over what it means to be black. ”
. . . Ibid.
182
higher-end stores in Bronzeville were somewhat scarce.
... Joslyn Slaughter, interview with author, October 8, 2010.
higher-end stores in Bronzeville were somewhat scarce.
... Joslyn Slaughter, interview with author, October 8, 2010.
182
learn that we deserve to live in a different environment.”
. . . Ibid.
learn that we deserve to live in a different environment.”
. . . Ibid.
183
nice amenities like everybody else.”
. . . Ibid.
nice amenities like everybody else.”
. . . Ibid.
186
only serve to strengthen the whites in power.”
. . . Sudhir Alladi Venkatesh, “Urban Puzzle,”
Boston Globe
, March 31, 2007, 4.
Chapter 11only serve to strengthen the whites in power.”
. . . Sudhir Alladi Venkatesh, “Urban Puzzle,”
Boston Globe
, March 31, 2007, 4.
188
She definitely made an impact.”
. . . Joyce King, e-mail to Chike Akua, November 4, 2009.
She definitely made an impact.”
. . . Joyce King, e-mail to Chike Akua, November 4, 2009.
191
in the United States, six of which are in Chicago.
. . . “Mexican Grocery Stores in the United States,”
http://www.fyple.com/category/food-drink/food-retailer/grocery-store/mexican-grocery-store/
.
in the United States, six of which are in Chicago.
. . . “Mexican Grocery Stores in the United States,”
http://www.fyple.com/category/food-drink/food-retailer/grocery-store/mexican-grocery-store/
.
191
other areas of the country with large numbers of Hispanics.
... Steve Raabe, “Latino-Grocery Boom Likely to Slow as Second-Generation Shoppers Surge,”
Denver Post
, March 11, 2010,
http://www.denverpost.com/business/ci_14651611
.
Epilogueother areas of the country with large numbers of Hispanics.
... Steve Raabe, “Latino-Grocery Boom Likely to Slow as Second-Generation Shoppers Surge,”
Denver Post
, March 11, 2010,
http://www.denverpost.com/business/ci_14651611
.
204
African American businesses that we otherwise wouldn't have.
... Addy et al., “The Empowerment Experiment,” 235.
African American businesses that we otherwise wouldn't have.
... Addy et al., “The Empowerment Experiment,” 235.
205
something with which Karriem might take issue.
... Ibid., 249.
something with which Karriem might take issue.
... Ibid., 249.
205
their diversity can be seen as valuable and appealing.
. . . Ibid., 252.
their diversity can be seen as valuable and appealing.
. . . Ibid., 252.
205
in the Black population that have yet to be achieved.”
. . . Ibid., 256.
in the Black population that have yet to be achieved.”
. . . Ibid., 256.
206
traditional investments by mainstream venture capitalists.”
. . . Timothy Bates and William Bradford, “Minorities and Venture Capital: A New Wave in American Business,” Kansas City, MO, Kauffman Foundation, 2003,
http://www.kauffman.org/uploadedFiles/minorities_vc_report.pdf
.
traditional investments by mainstream venture capitalists.”
. . . Timothy Bates and William Bradford, “Minorities and Venture Capital: A New Wave in American Business,” Kansas City, MO, Kauffman Foundation, 2003,
http://www.kauffman.org/uploadedFiles/minorities_vc_report.pdf
.
206
an economic argument that says this is good for business.”
. . . Steven Rogers, interview with author, January 31, 2011.
an economic argument that says this is good for business.”
. . . Steven Rogers, interview with author, January 31, 2011.
207
nationwide, including 126 owned by African Americans.
. . . Information provided by Donna Meacham Blackman, CPA, Vice President, Finance, Global Lodging Services FBP, Marriott International Inc.
nationwide, including 126 owned by African Americans.
. . . Information provided by Donna Meacham Blackman, CPA, Vice President, Finance, Global Lodging Services FBP, Marriott International Inc.
208
“to be wealth creators, instead of wealth spenders.”
. . . New York Life agent promotional material for The $50 Billion Empowerment Plan.
“to be wealth creators, instead of wealth spenders.”
. . . New York Life agent promotional material for The $50 Billion Empowerment Plan.
209
sense of community in neighborhood after neighborhood.
. . . “Starbucks Acquires Remaining Interest in Magic Johnson Enterprises' Urban Coffee Opportunities,” Starbucks Newsroom, October 21, 2010,
http://news.starbucks.com/article_display.cfm?article_id=452
.
sense of community in neighborhood after neighborhood.
. . . “Starbucks Acquires Remaining Interest in Magic Johnson Enterprises' Urban Coffee Opportunities,” Starbucks Newsroom, October 21, 2010,
http://news.starbucks.com/article_display.cfm?article_id=452
.
211
needed,” I felt my heart drop into my stomach.
... Slaughter interview, October 8, 2010.
needed,” I felt my heart drop into my stomach.
... Slaughter interview, October 8, 2010.
212
who are not comfortable with the status quo.”
. . . Corey Tabor, interview with author, February 28, 2011.
who are not comfortable with the status quo.”
. . . Corey Tabor, interview with author, February 28, 2011.
216
social and economic pathologies in our communities.”
. . . Jones interview, October 12, 2010.
social and economic pathologies in our communities.”
. . . Jones interview, October 12, 2010.
Index
Abilene, Texas
Abolitionists
Absence.
See
Industry sector gaps
See
Industry sector gaps
Accenture
Accessibility.
See
Business accessibility
See
Business accessibility
Action vs. good intentions
Addy, Dwetri
Advance Auto Parts
“Advancement in betrayal” perspective
Advantage Chevrolet
Advertiser appeasement, example of
Advertising industry
Affirmative Action
Afram Cosmetics
Africa
African American MBA Association
African Baptist Church
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