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5:54 PM / Tuesday April 30, 2024

Color Of Money

U.S. markets fall sharply after S&P downgrade

August 12, 2011

The Dow Jones industrial average fell more than 250 points minutes after the opening bell on Wall Street. It recovered some of those losses, then fell again and was down as many as 375 points in mid-morning trading. At noon, the Dow was down 289 points.

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Minorities short changed on sick leave

August 7, 2011

The Institute for Women’s Policy Research just issued a study finding that access to paid sick days in Denver varies widely based on ethnicity and race. The study reveals that only 33 percent of White women and 35 percent of White men have jobs that do not provide sick leave while Latinos and African Americans lag far behind…

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Blacks question debt deal

August 7, 2011

Congressional Black Caucus Chairman Emanuel Cleaver is making headlines for remarks he made about the Debt Ceiling Deal reached to avert a US government default. Cleaver said early reports of the new deal appeared to be “a sugar-coated Satan sandwich.”

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Wealth gap widens between whites, minorities

July 31, 2011

The wealth gaps between whites and minorities have grown to their widest levels in a quarter-century. The recession and uneven recovery have erased decades of minority gains, leaving whites on average with 20 times the net worth of blacks and 18 times that of Hispanics, according to an analysis of new Census data.

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Complicated Financial Products Are a Tough Sell to Blacks

July 10, 2011

I frequently find myself in a debate with a dear friend about the slew of surveys concerning the financial behavior of blacks. When the companies release their findings, which often show blacks lagging in savings and investment holdings, the question he’s left with is…

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Missouri bank settles with feds over allegations of discrimination

June 26, 2011

The Justice Department announced that Midwest BankCentre will open a full-service branch in an African American neighborhood and invest approximately $1.45 million in majority African American areas of the St. Louis metropolitan area as part of a settlement to resolve allegations that they engaged in…

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Black baby boomers eye uncertain retirement

June 20, 2011

As the 78 million boomers—over 9 million of them black–continue to make a gradual, but highly visible exit from the workforce, data show that pre-retirement factors, such as income and planning, are key determinants of how well off they will remain financially in their later years…

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Mayor Nutter launches Philadelphia Works, Inc.

June 13, 2011

Mayor Michael A. Nutter and new Board Chairman Joseph A. Frick announced a reorganization of the city’s workforce development system with the creation of Philadelphia Works, Inc., replacing both the PWDC and the Philadelphia WIB.

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