Your Black Money: Is the American Dream Dead for Autoworkers?

There was a time, not very long ago, when getting a job on the production line at a big automaker meant an instant ticket to the American dream, even for someone with little formal education. Not anymore.

"The minute you signed the paper, you were instantly vaulted into the middle class," said Mike Smith, director of Wayne State University's Walter P. Reuther Library in Detroit, named for the founder of the United Auto Workers, the union that represents auto workers.

A shrinking paycheck. As the auto industry undergoes a sea change, the government has demanded that Chrysler and General Motors (GM, Fortune 500) bring their labor costs in line with foreign competitors operating non-unionfactories in the U.S.

Today, an entry-level auto-worker will be making $14 an hour, compared to the $28 "base rate" the job had earned before, according to a summary of Chrysler's contract agreement.

 

Click to read.

Technorati Tags: black money,african american money,black wealth,african american wealth

Planning for Your Death: Will Your Kids Be Protected?

For more financial advice, visit www.DrBoyceMoney.com.

It may shock you to read this, but you are going to die. Young people don't seem to believe they are ever going to leave the earth and even old folks aren't ready to accept it. Many of us become sole providers for our families under the assumption that we are going to be around forever. Well, there comes a time when we must realize that if we get into our car and head out to work one morning, we may never come back.

What happens to those we leave behind? They are left to clean up the messes that we've left, and you probably know at least one person who has gone to a funeral and watched their daddy's dirty laundry pour itself out all over the front row. The funeral is a day of reckoning, from both a personal and financial standpoint. The point of death is when the Grim Reaper makes us reap what we have sewn throughout our lives.

How do you determine whether or not you have enough life insurance? Let me break it down for you.

Continue reading Do Your Children Have a Plan for your Death? You Might Want to Think Again

Technorati Tags: black money,black wealth,african american money,african american wealth,black professors,african american professors

Black News: “Buy Black” Campaign is working

It's been two months since 2-year-old Cori pulled the gold stud from her left earlobe, and the piercing is threatening to close as her mother, Maggie Anderson, hunts for a replacement.

It's not that the earring was all that rare — but finding the right store has become a quest of Quixotic proportions.

Maggie and John Anderson of Chicago vowed four months ago that for one year, they would try to patronize only black-owned businesses. The "Empowerment Experiment" is the reason John had to suffer for hours with a stomach ache and Maggie no longer gets that brand-name lather when she washes her hair. A grocery trip is a 14-mile odyssey.

"We kind of enjoy the sacrifice because we get to make the point ... but I am going without stuff and I am frustrated on a daily basis," Maggie Anderson said. "It's like, my people have been here 400 years and we don't even have a Walgreens to show for it."

 

Click to read.

Technorati Tags: black money,african american money,black wealth,african american wealth,buy black

Keys to Success: Avoiding the Wizard of Oz Syndrome

by: Lawrence M. Watkins

Last weekend, I had the wonderful opportunity to go home to Louisville and attend the Kentucky Derby. Growing up, I was not allowed to participate in many of the Derby festivities. My father was a Major with the Louisville Metro Police Department and was often over security for the city’s Derby festivities. Because of this task, he was subjected to a lot of foolishness through the years during Derby in order to serve and protect the city’s patrons. Therefore, he insulated me from most of the damaging behavior that comes with having an extra 200,000 people in the Louisville metro area of only 700,000 residents. This year was only my second “true” Derby experience and it was completely different from the Derby with which my father was familiar. I was excited to get the weekend rolling!

As I boarded my plane from Ithaca, NY all I could think about was how much fun I was going to have at all of the VIP events and all of the interesting people I was going to meet. Thanks to an awesome friend, my girlfriend, Kandice, and I were given some box seats to the Derby and tickets to all of the VIP galas. I was afforded the opportunity to spend hours with some of the top entertainers, athletes, and business moguls in the nation. I quickly became disappointed, however, as I transitioned from dreaming about talking to ‘Deity XYZ’ to actually speaking to him in person.

After exchanging small talk for a few minutes, I asked each person one simple question, “What are you passionate about?” My goal was to attain deeper insight on what made them successful. After proposing the question, each individual looked at me for a moment with a perplexed expression. After a much anticipated silence, most of individuals said, “Wow . . . No one has ever asked me that before.” As people answered this question for me throughout the evening, I slowly became saddened and disappointed by their responses. I was shocked by the amount of times I heard “making money”, “ballin’”, and “I have no idea” as simple responses to the question asked of them. I then asked myself a vital question . . . Is there really anything more to life than fast cars, chartered jets, and high class sporting events?

 

Click to read more on the Black Authors Blog

Love and Money: Are Rich Guys allowed to cheat?

In this episode of "Financial Lovemaking", Dr Boyce and Tia break down whether or not wealthy men are allowed to make mistakes that men with less money are not allowed to make. Dr. Boyce brings up Kobe Bryant as an example of men with power and wealth who are sometimes given the right to do things that other men might not be allowed to do.

Click the image to watch!

Technorati Tags: financial lovemaking,couples and money,black couples and money,black women,black relationships,african american money,black money