Whites Six Times Wealthier than Blacks

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WASHINGTON – Whites had an average wealth of $632,000 in 2010 while Blacks had about $98,000 and Hispanics had $110,000, according to a recent study by the Urban Institute. “Such great wealth disparities help explain why many middle-income blacks and Hispanics haven’t seen much improvement in their relative economic status and, in fact, are at […]

‘Buying Power of Black America’ Report Probes Spending Shifts

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NATIONWIDE – According to the data found in a new report, “The Buying Power of Black America,” Black consumers have shifted their priorities and preferences. With the nation slowly recovering from recession, businesses need to develop strategies for regaining and increasing their share in the Black American economy. Black consumers now represent the margin of […]

Blacks Less Prepared for the Next Financial Crisis

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WASHINGTON – Minorities clinging to the middle class have come out of the Great Recession at a higher risk for falling into poverty during the next economic crisis, according to a recent report by the Center for American Progress, a nonpartisan think tank in Washington, D.C. The report titled, “Making Sure Money Is Available When […]

JIM CLINGMAN: Time to Embrace Blackopoliticonomics

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OPINION – As George Benson sang in Moody’s Mood, “There I go, there I go, there I go…” making up words again. I couldn’t resist this one in light of our penchant to choose sides when it comes to economics versus politics. It seems we cannot understand, nor act upon, the fact that by combining […]

Local Women Fill ‘Plates’ With Self-Sufficiency

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SACRAMENTO – With two jobs and five kids, local mother Ebony Price has a lot on her plate. Fortunately, she seems to have found the recipe for success and self-sufficiency. Ms. Price, 29, is a graduate of the Plates Employment Training Program. Through the program, formerly homeless mothers who have stayed at the St. John’s […]

The Black Unemployment Rate Drops for All the Wrong Reasons

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WASHINGTON – There wasn’t much good news for any of the worker groups in the March jobs report, released last Friday. Even though, the unemployment rate fell to 7.6 percent, most economists agree that the drop is attributable to nearly half a million workers exiting the labor force. “The unemployment numbers look good on the […]

Green Tech Exposes Students To Portable Lighting System

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ELK GROVE — There are many ways to teach youth and adults with emerging green-collar skills how to develop solar energy: radiant heat and light from the sun. However, the local nonprofit, Green Technical Education and Employment (Green Tech), accomplished this feat recently, with an additional facet, that was presented in its Solar Case Project […]

Next Economy Sets Out to Generate 35,000 New Jobs Over Next 5 Years

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SACRAMENTO — Culminating more than a year’s worth of research, community-wide information gathering, planning and prioritizing, business leaders unveiled today the Next Economy Action Plan at a news conference held at the UC Davis Comprehensive Cancer Center. Regional leaders representing business, government, health and bioscience, and academia stood together to emphasize their commitment to implementation. […]

Blue Diamond Growers Expands In Sacramento

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SACRAMENTO – “Every major innovation in almonds has come from Blue Diamond,” explained Blue Diamond President and CEO, Mark Jansen, at the opening of the 6,500 square-foot Almond Innovation Center. “As a result, we are expanding our Sacramento headquarters to include the world’s only research center dedicated to designing cutting-edge almond products.” Blue Diamond, a […]

Wells Fargo Commits $55 Billion to Women-Owned Businesses by the Year 2020

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SAN FRANCISCO – Wells Fargo today announced a commitment to lend a cumulative total of $55 billion to women-owned businesses in the U.S. by the year 2020, updating its lending commitment first established in 1995. The announcement will be made by Lisa Stevens, Wells Fargo lead executive for Small Business and West Coast Regional Banking […]