Daily Archive: November 10, 2011

Opinion

Correction to To Tell The Truth column

Dear Editor: Mr. Kendrick, or Hop as I’ve always called you out of respect and long family and community ties, I wanted to write this brief missive in response to your forum page editorial, “Our last all-White political slate.” Although I agree 100 percent with most of what you have stated in your writings, I must point out one minor correction.

Entertainment

Cover To Cover…‘Boyfriend Season’

You’ve always secretly loved this time of the year, even though everybody else seems to grumble about it. Back to school. Back to homework and getting up early to hit the books. Back to boring classrooms. Grrrr. You grumble along, but the truth is that back-to-school season is exciting. You get to see friends you didn’t see over summer, the clothes and kicks everybody’s rocking, and boys—the ones who were nerds last spring—who suddenly became oh-so-fine. For Dynasty, Patience, and Santana, this isn’t just the end of summer, though. In the new teen novel by Kelli London, you’ll see that it’s really “Boyfriend Season.” Santana is just about the flyest thing in Atlanta.

Business

Social Security is vital for African- American families

by Barry Rand (NNPA)—In these days of high unemployment and growing financial insecurity, the last thing African-American families need is a serious threat to the only guaranteed, lifelong source of income the majority of our families count on. It took too many years and too much blood, sweat and tears for African-American families to secure a place among America’s middle class. I’m talking about the current threat to one of the most successful programs in U.S. history—Social Security. Social Security is much more important to African-Americans than many realize. Social Security has become a prime target of many in Congress for cuts to pay the nation’s bills. Today, serious cuts in Social Security benefits are being considered by the so-called congressional “Super Committee.” These are benefits that African-Americans have earned through a lifetime of hard work.

Business

What would I?recommend?

I recently came across an article in the Black Enterprise where they teamed a family who had some financial goals with a financial advisor. I thought it would be interesting to share this family’s financial circumstances and goals, the advice given by the financial advisor, and the advice I would have given this family. The family is a young couple—both 29 years old with two children, ages 1 and 3. Husband works full time and has an annual income of $38,000. Wife works part time and has an annual income of $3,000. Their total household income is $41,000. This happens to be the average household income in America. They are currently about $71,000 in debt. This includes $64,000 in student loans and $6,800 in credit cards. For the past 3 years, they have been deferring payments on $50,000 of the $64,000 student loan balance. They recently qualified for an affordable home loan program. They put $2,000 down on a $237,000 two-family home that is currently under construction. Their home should be completed by year-end. They plan to live in one of the units and generate rental income from the other unit. In the near future, they would like to utilize the equity in their home to purchase more rental property. They’re frustrated with being boggled down with debt. One of their goals is to save for their children’s college education so that their children don’t start life off in the hole like the parents did.

Business

Black reparations update: More than mere chump change

What do you think of reparations for the descendants of slaves? Over the next year African-Americans will have an opportunity to illustrate their political priorities. Do you believe African-Americans will yield to symbolism of re-electing Barack or rekindle the movement to be paid just reparations? Who among us can disagree that racial discrimination, slavery and Jim Crow are the reasons for African-Americans’ economic inequities? America ’s most contentious issue today is the same as it’s been for 150 years: That the descendants of American slaves should receive compensation for their ancestors’ bondage and unpaid labor. To most Americans it’s unfathomable that reparations be paid for slavery. But, “Slavery” is internationally recognized as a crime for which there is no statute of limitations. Slavery flourished in the United States from 1619 to 1865, in an inhumane deprivation of Africans’ lives under which they were held against their will, treated as property, and forced to work without compensation. American slavery was followed by 100 years of government-led-and-supported denial of equal and humane treatment that included Black Codes, convict lease, sharecropping, peonage, and Jim Crow practices of separate and unequal accommodations that lasted until the 1960s.

Business

Detroit dragster talks passion for racing Chevrolets

(REAL TIMES NEWS SERVICE)—Detroiter Brian Olatunji has a connection to Chevrolet that’s probably a lot different than most. Since the age of 15, the 29- year-old Olatunji has been racing Chevys and now spends most of his time running an 1100 horsepower ’78 Chevrolet Monte Carlo as a professional dragster at speeds up to 175 mph. BRIAN OLATUNJI says racing legends like William Durant, founder of the Chevrolet, have been an inspiration for him in the sport.

Business

LA writer’s journey speaks to what makes Chevrolet special

by Marcus AmickFor New Pittsburgh Courier Joe Wilson, who always dreamed of owning a Chevrolet Chevelle one day, encompasses everything that the brand has represented over the past 100 years. A native of Cleveland, in 1998 Wilson decided to forgo a career in manufacturing engineering and move to Hollywood to pursue his dream to be a writer. Today, he’s a staff writer for “NCIS: Los Angeles,” one of the most highly rated shows on TV. And in the first episode he wrote for the show last year, he scripted a ’70 Chevelle in the storyline. ‘NCIS: LOS ANGELES’ writer Joe Wilson passes the love for Chevelles to his son, Clay.

Business

Consumer borrowing up, but credit card use falls

by Martin Crutsinger WASHINGTON (AP)—Americans borrowed more in September to buy cars and attend college, but they charged less to their credit cards for a third straight month. The figures suggest that consumers are growing more cautious about taking on high-interest debt in a weak economy. Total consumer borrowing rose by $7.4 billion in September, the Federal Reserve said Monday. In August, it had fallen by the most in 16 months. The September increase reflected a 5.8 percent increase in borrowing in the category that includes car and student loans. But the category that covers credit card purchases dropped 1 percent after larger declines in July and August.