Blog Post: Stephen Wicks -
Sean "Diddy" Combs wants to get in on the opportunity to be the first Black business man to be a principal owner of an NFL franchise team. The Carolina Panthers' owner, Jerry Richardson, has said that he is ready to sell the team and Diddy has been working with other investors to put a deal on the table. Professional athletes, Steph Curry and controversial ex-quarterback Colin Kaepernick have said that they are willing to join the effort. It has been reported that the NFL wants a new owner by April of 2018.
The NFL has produced many millionaires by current and former players being able to invest their earnings from salaries and endorsement deals, but clearly, the lion's share of the profits come from actually owning a team and not just playing on the field. According to an article on NewYorkDailyNews.com, the average value of a NFL team is $2.4 billion dollars. That's a whole lot of profit. It's a fact that the majority of the starting line-ups of NFL teams are now Black, yet there is not one Black principal owner of any NFL team. That's a serious wealth disparity. Diddy and others are trying to change that dynamic.
If Black people in America are going to break the cycle of poverty we must begin to understand the power of ownership. We applaud the efforts of Diddy and the other investors. We need to promote and support these efforts whenever and however we can.
Sean Comb became a very successful entertainer and business owner after forming Bad Boy Entertainment in the 1993. Forbes Magazine estimated Diddy's net worth at $820 million dollars. He is very close to being the first hip hop billionaire.
Let's hope that he is successful and better yet, that his attempt inspires others to make the move towards business ownership. We'll keep you posted.
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Blog Post - It has been reported by CNN that fashion company, H&M had to apologize for using a Black child to advertise clothing that had the phrase "The Coolest Monkey In The Jungle." Really? It's hard to believe that the creative directors and executives at the company ALL did not realize how offensive that would be to Black consumers. With that being said, they in fact DID make that blunder. They have reportedly stopped the advertisements and will not make the clothing in question available for sale in the United States.
Black consumers spend millions of dollars on fashion each year. We often wear the clothing of name brand designers and many times elevate the "cool" factor for the brand. Blacks have been fashion trend setters since the days of the Harlem Renaissance and African prints and designs have been used to sell many clothes today.
In my opinion we should use times like this to remind us that we should be supporting Black owned fashion companies as much as we can. There are companies that take advantage of our purchasing power but do not have the care, concern, or sensitivities regarding the Black community.
We need to support companies that promote positive images of Black people not companies that don't even have the decency to be sensitive to our pain, struggle, and negative stereotypes.
Click Here to check out a few Black owned fashion companies in our directory.
Check out Mali Natural Products. They are located in our directory under the categories of Beauty Supply, Health & Wellness, Skincare. According to their website: "you will find pure, natural, and organic Skincare products to give your skin the ultimate nutritional gain for all skin types and Tones."
Visit their website at: http://www.malinaturalproducts.com/home.html
According to Nielson reports, African American spending power has tipped 1 trillion dollars. How are we using that buying power? Are we re-investing in the communities that we live? One way to do that is to use a Black owned bank. Access to capital and loans are an essential part of being successful in today's world. Let's be smart about how we use our money.
We have proudly added a new Black owned bank to our directory. If you live in the Atlanta metro area, you can deposit your hard earned money with Citizen's Trust Bank.
We also have OneUnited Bank in our directory. They allow deposits nationwide via there website and app. Visit our homepage and do a search for "banks" to find a bank for you to deposit your money today!
We need more listings in our directory. Please spread the word about our website. Why do we charge to list a business? Because, often businesses cease to operate or they change their contact information. This causes a labor expense in terms of making sure that our list is accurate and up to date. We also have plans to re-invest in the Black business community by offering grants to small business owners. Let's work together to make a difference in our community. Join the movement!
Learn more the following Black owned banks:
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