Blacks must become number one employer of Blacks
ABOVE PHOTO: George Frasier.
By Hazel Trice Edney
There are more than 9,000 Black public officials in America, yet African-Americans remain at the rock bottom of every negative statistic in crime, health, economics and education.
This is the reason that one lecturer and award-winning author says the Black community must pay equal attention to business ownership, economic development and wealth as it does to political empowerment.
"Your wealth will determine where you live, where you live will determine where your children go to school, where your children go to school will determine the quality of your children's higher education; and the quality of your children's higher education will determine your children's life-long earnings," George Fraser told a group at last week's State of the Black World Conference at Howard University. "And your children's life-long earnings will determine where your grandchildren live and where your grandchildren live will determine where your grandchildren will go to school and where your grandchildren go to school will determine the quality of their higher education and their life-long earnings. Do you understand the cycle of poverty here?"
Fraser, president/CEO of FraserNet, Inc. a 20-year-old firm that specializes in Black economic growth, has written multiple books on economic wealth and unity; including, "Success Runs in Our Race; The Complete Guide to Effective Networking in the African American Community"; "Race for Success; The Ten Best Business Opportunities for Blacks in America", and "Click: Ten Truths to Building Extraordinary Relationships."
The spellbound activists, professionals and students in the audience were attending the third day of the conference, sponsored by the New York-based Institute of the Black World – 21st Century. IBW President Ron Daniels described the conference as the first "great gathering" of African-Americans post-election. The theme was "State of Emergency in Black America – Time to Heal Black Families and Communities". The third conference of its kind held after the last three presidential elections, the goals was to establish a Black agenda regardless of who was elected.
In the Saturday session on economics, Fraser pinpointed what he says is the number one issue that Blacks should be dealing with – Black wealth.
"We are not poor. We're just broke," he told the audience, some of whom shouted "Speak!" "Tell the Truth!" and other words of agreement. Some even moaned, rocked and shook their heads as he spoke. "We have a $900 billion annual economy. If we were a nation, we'd be the fourteenth richest nation in the world."
Fraser said with the "intellectual capital" in the Black community, there is no reason that African-Americans should be as economically destitute as they are. According to the U. S. Census Bureau, 25 percent of African-Americans live below the poverty level and fewer than 5 percent of small businesses are owned by Black people. Yet, Fraser estimated that Blacks have multiplied W.E.B DuBois' dream of the talented tenth more than 70 times when counting the number of African-Americans with college degrees.
Fraser was one of dozens of speakers during the conference that drew more than 300 people. Other high profiled names included Susan Taylor, Julianne Malveaux, Elsie Scott, Melanie Campbell, George Curry, Hilary Shelton, and Jeff Johnson.
Fraser's econonics message comes as African-Americans are hoping that President Barack Obama will do something special to deal with the Black jobless rate, which remains in double digits even as the national average has dipped below 8 percent. Fraser says it is unfair to put pressure sole on politicians and challenged the audience to take a lesson from communities of Jews, Asians, East Indians, and Arabs.
"Every immigrant group that has ever come to this country is now the number one employers of their own people," he stressed. "We too must become the number one employers of our own people. Why? Because the only way to raise up the poor is to create work and jobs for your own people."
Announcing an entrepreneurship conference he is holding this summer, Fraser said he believes it will take a full century for African Americans to gain the strength that they could have by establishing their own businesses, employing each other and supporting each other economically. But the key is unity, he says.
"The idea that the Black community can exercise affective power – political or otherwise – without simultaneously exercising economic power is fantasy...So, we have to make sure we fix this," he said. "When we were unified around slavery, we freed ourselves...We were unified around civil rights, voting rights and public access in media...We have to be unified now around building wealth...We have everything we need to succeed except each other."
+ Top Story
New York’s attorney general on Monday accused Wells Fargo and Bank of America of violating the terms of last year’s national mortgage settlement by failing to process hundreds of refinancing requests promptly.
Christine Pacheco, director of career services at The Art Institute of Colorado, and Kristin Frank, director of career services at The Art Institute of Phoenix, share the top dos you should include to get noticed and get your foot in the door - and the don’ts that could get your resume tossed in the trash.
Whether you're one of those people in need of a personal trainer or you're looking for work in a dismal job market, the bureau of labor statistics reports "employment of fitness trainers and instructors is expected to grow by 24 percent from 2010 to 2020, faster than the average for all occupations."
President Barack Obama's fiscal year 2014 budget is unlike any previous presidential budget request in recent history. It is not a statement of the president's vision for the federal budget. It does not represent what he thinks is the best course of action for spending, taxation, and...
Sheryl Sandberg. By now you know who she is, you've heard her story, and you have her book. You know the whole shebang, and you've made up your mind whether you like her or not. I must admit that before I met her in person, I was not an immediate fan.
African American investors report high levels of confidence in their financial future, along with optimism about the political and economic future of the country, according to a recent Wells Fargo nationwide survey.
A new report reveals houses are selling faster and for more money, yet another indicator of a rebounding housing market. According to the National Association of Realtors, full-year sales of previously owned homes increased by 9 percent in 2012 over the previous year.
The migration of women from the workforce into business ownership is one of the great economic realizations of the American Dream. The U.S. Women's Chamber of Commerce has grown to more than 500,000 members.