Monthly Archive: February 2010


My wife refuses to relocate, but girlfriend will

(NNPA)—Dear Gwendolyn: I have been looking for a job for two years or more. My wife and I are having a big dilemma. This is the problem: Two months ago a large construction firm hired me to be a worker on a bridge reconstruction project. I accepted the job but my wife is refusing to relocate. She is close to receiving her Ph.D. and will not commit to relocate once this has been achieved. My best male friend told me years ago that once my wife receives that big degree, she will kick me to the curb. I must admit, however, my wife has been paying all the bills while I was unemployed, but now refuses to move. However, my woman on-the-side is excited and ready to go. Gwendolyn, what should I do?—Larry


Will Magic buy Ebony, Jet magazines?

by Yussuf J. Simmonds (NNPA)—There is much speculation in the news that retired NBA star and businessman extraordinaire, Earvin “Magic” Johnson is negotiating to purchase Johnson Publishing Company, the parent company of Ebony and Jet magazines. Sources close to the possible purchase said that the company’s Chicago headquarters, a beacon of Black pride, on Chicago’s South Michigan Avenue, would be included if the deal is consummated. Nothing was mentioned about the Ebony Fashion Show and the radio station that are also a part of the Johnson Empire. MAGIC JOHNSON The Johnson Company, home of Ebony and Jet magazines, was founded over a half century ago by John H. Johnson. It evolved from the Negro Digest and has been a media source of inspiration that chronicled life in the Black community in a positive light. Since Johnson passed away in 2005, his daughter, Linda Johnson-Rice, has been the chairwoman and chief executive officer. His wife, Eunice Johnson, was the secretary-treasurer and founded the Ebony Fashion Show that showcased fashion for Black people unlike any other news media at that time; she passed in January 2010.


Despite reforms, costly loans and cards remain

by Candice Choi NEW YORK (AP)—You can still get credit if your finances are a mess. It will just cost dearly. A sweeping credit card law that takes effect Monday was supposed to prevent banks from employing tactics that yanked borrowers deeper into debt. Yet an array of loans and cards with crushing terms still beckons from every corner. Consider a subprime credit card that now comes with a 59.9 percent interest rate. There are also payday loans and prepaid cards, both of which can come at steep costs.



The tax benefits of homeownership

There’s no place like “your” home! Less than 2 percent of Americans actually own their homes independent of a mortgage. Meaning 98 percent of Americans have a “limited” vested interest in their property, sharing ownership rights with the mortgage company. This boils down to one startling statistic. Either your housing payments are being used to pay down “your mortgage”—if you are a homeowner. Or your housing payments are being used to pay down someone “else’s mortgage”—if you are a renter. Given the fact that shelter is one of the basic necessities of life it stands to reason that many of us will have either a long-term or permanent housing expense. One tax strategy that many financial savvy people employ is to convert non-deductible interest expense to deductible interest expense. Housing expenses as a renter are non-deductible whereas housing expenses as a homeowner are deductible. Translation—seek homeownership over renting. It’s the taxable thing to do.


Secrets exposed, myths vanquished at business summit

by Stephen D. Riley (NNPA)—There were no tennis shoes, jeans or sweatshirts present at the Minority Business Summit’s “Men of Influence” luncheon Feb. 20, just neatly creased slacks, fashionable ties and double-breasted suits. But the only thing sharper than the dress code may have been the entertaining and sharp dialogue among the event’s guests. Inside the Billie Holiday Ballroom at the Baltimore Hilton Hotel, some of the most prominent figures in minority business gathered at one of the area’s premiere annual business conferences.


Celebrating a heritage of economic survival

by Charlene Crowell (NNPA)—At a time when the source of so much consumer angst is focused on the ill effects of consumer lending, it was both fitting and appropriate for the 2010 theme of Black History Month to be economic empowerment. The theme, as in previous years, was identified by the Association for the Study of African-American Life and History, the organization that provides ongoing service to the vision and works that Dr. Carter G. Woodson first began in 1926.


Business Calendar

Certification & Contracting Workshop FEB. 24—The U.S. Small Business Administration will host an 8(a) and HUBZone Certification & Contracting workshop from 9 a.m.-12 p.m. at The Riverside Center for Innovation, 700 River Ave., 1st floor Conference Room, North Side. It is free to the public. MBE/WBE and Veteran-owned businesses are encouraged to attend. Registration is requested. For more information, call Marisa Fentzel at 412-395-6560 ext. 109.


Pitt and Prairie View big winners in area recruiting

Gateway High School was ranked No. 1 in the state for most of 2009 and has been a primary stop for college recruiters. Seven Gateway seniors have received full football scholarships: Brendon Felder (North Carolina), Dayonne Nunley (Miami, Ohio), Orne Bey (Miami, Ohio), Omarr “Big O” Finn (Prairie View A&M), Shawn Brisker (Prairie View A&M), Delbert “The Hitman” Tyler (Hampton University) and Mitch DeVall (Seton Hill). Prairie View A&M had a season to remember in 2009, as the Panthers went 9-1 overall and undefeated in the Southwest Athletic Conference (7-0). They won their first SWAC title since 1964. This year Prairie View A&M came to ‘Six-burgh’ for a couple more pieces to their championship puzzle, Finn and Brisker (Gateway). EYES OF STEEL— Tawayne Steele of Oliver is determined to get around Allderdice’s Ishmael Swain in the Bears 50-43 win on Feb. 16. Steele scored 10 points.


City League Roundup…Play continues as weather conditions improve

Basketball contests resumed last week with a major upset. Top-seeded Perry suffered their first loss on Feb. 15 to Peabody, 77-75, in overtime. “We’ve been fortunate to have made some good shots at very crucial times,” Perry Coach Marco Corona said. “This season has been a good one so far and this proves that we have to work hard throughout the duration of it.” Perry (16-2, 12-1) could not stop the unselfish and relentless attack of Peabody, as they finished with four players in double figures.


Shut out of 1,500 gold, Davis sets eyes on Russia

by Paul NewberryAssociated Press Writer RICHMOND, British Columbia (AP)—If there was any doubt about Shani Davis returning for another Olympics, all it took was another surprise in the 1,500 meters to get him setting his schedule for the next four years. Denied once again, Davis immediately turned his attention to the 2014 Games in Russia. GOLD AND SILVER—Gold medalist USA’s Shani Davis skates during the men’s 1000 meters race at the Richmond Olympic Oval at the Vancouver 2010 Olympics in Vancouver, British Columbia, Feb. 17.