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Black Business Index & Survey

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We are conducting a survey of Black Business Conditions as we prepare for our Texas Talks (see above). Note that you do not have to be either in Texas or a Black-owned Business to fill out this survey. In fact, we prefer to have a range of business owners respond. We are, however, specifically focused on the Black business sector in Texas.

To view and complete the survey, please go to: https://www.surveymonkey.com/r/NCVQLLL

Thank you!

Senate Banking Committee Hearing on Fostering Economic Growth by Kari Nelson, Impact Investing Intern, University of Virginia

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Soon, it may be easier to be a Wall Street Bank. We knew that one of President Trump’s central campaign promises was to dismantle the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (LA Times)— passed after the 2007-2009 financial crisis to prevent similar crises from occurring—but that didn’t necessarily mean anything major was going to happen. Campaign promises go unfulfilled all the time (*cough* the Wall *cough*). Now, the Trump administration seems to be moving to follow through on dismantling Dodd-Frank. With that in mind, we take a look at developments in this area over the past few weeks to see what changes are likely in the near future.

On June 8, there was a surge of excitement (either out of fear or joy, depending on your perspective) when the House passed the Financial Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs Act, which would repeal many of Dodd-Frank’s banking reforms (CNBC). Then, everyone calmed down a bit and realized …

State of Black Business Report - Dallas 8/22

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The State of Black Business will inform members and community leaders on the climate, condition, and trends of African American business.  The Keynote Speaker, Economist William Michael Cunningham, is the founder of Creative Investment Research and serves as Managing Partner for National Crowdfunding Services. The Forum is a critically important forum to discuss and design a plan for greater economic impact within our communities. You will want to join this discussion with black business leaders from around the city!
Invitees to this event will include elected officials, corporate sponsors, community leaders, DBCC Board of directors and select Chamber members.
August 22, 2017
Cityplace 2711 N. Haskell Dallas, Texas 75204 8:30 a.m. – 6:00 p.m.
State of Black Business Registration:  (Early Bird Special) $75 Member/$100 Non-Member http://dallasblackchamber.org/current-events/state-of-black-business-forum/

“Scared to Death” - Scandinavia and the US by Austin Wu, Impact Investing Analyst, University of Maryland

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On June 27th 2017, the House of Sweden, located on the banks of the beautiful Potomac River, hosted the Speakers of the Parliaments of Sweden and Latvia, the President of Parliament of Norway, along with Derek Cholett, the Executive Vice President at the German Marshall Fund of the United States, and Kurt Volker, the executive director of the McCain Institute for International Leadership, to discuss challenges in Northern Europe and how to face them in partnership with the United States.

The seminar focused on the possible withdrawal of the United States from NATO, and how the Scandinavian countries would be left vulnerable to potential military aggression and geographical expansion of Russia in the near future, should the close relationship between President Trump and President Putin hold true. One key point the speakers all agreed upon is this fact: a great nation needs great neighbors. As Russia sits in close proximity to the Scandinavian countries, the Scandinavians are all looki…

The Trouble with Economics by Sahil Grover, Impact Investing Intern, University of Virginia

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On June 20th, 2017, the Brookings Institute invited Alan Blinder, Representative Jamie Raskin, and Former Representative Vin Weber to discuss the "Lamppost Theory" – the tentative title for Blinder’s new book that seeks to explain why economic policy often comes up short. Held in the Hutchins Center on Fiscal & Monetary Policy, the discussion began with Blinder explaining what the book title means. Blinder’s main argument is as follows: “Politicians use economics the way a drunk uses a lamppost – for support, not illumination”
Blinder believes that the reason economists and politicians have not had success working together to create effective policies is because they hail from two completely different “civilizations”. He believes both parties share blame for past policy failures and must learn from each other. Blinder argues that economists and politicians measure success differently, using a completely different set of criterion to make decisions. Economists tend to us…

Liberty Bank, SBA and US Black Chamber Loan Guarantee Program by Kari Nelson, Impact Investing Intern, University of Virginia

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On Wednesday June 14, New Orleans-based Liberty Bank, a black-owned bank, announced that it is partnering with the Small Business Administration (SBA) and the U.S. Black Chambers (USBC) to guarantee loans for black business owners.

The groups hope this partnership will boost access to capital by solving one problem many black business owners experience – they cannot get capital when they need it. According to the U.S. Census Bureau, in 2014 only 47% of black business owners who requested funding from banks got the full amount requested, compared with 76% of whites. Statistics such as this are discouraging, and black business owners feel disheartened by the situation – with 57% of black business owners who don’t seek capital citing fear of being rejected as their reason. The credit gap is obviously a huge issue for black business owners and there is a lot of room for improvement in how banks and the Government address the issue. This new initiative by Liberty Bank with the SBA is an a…

“Stay Faithful”: Senator Cory Booker at the U.S. Black Chamber by Austin Wu, Impact Investing Analyst, University of Maryland

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During today’s (6/14/17) U.S. Black Chamber of Commerce meeting, I had the honor of listening to a very emotional yet encouraging speech by the junior United States Senator from New Jersey, Senator Cory Booker.

Senator Booker attended Stanford University, where he played college football and received a Bachelor of Arts in political science, along with a Master’s degree in sociology. Later, he attended the University of Oxford and upon returning to the United States, earned his Doctor’s degree from Yale Law School. He was the 36th Mayor of Newark, in office from October 2013 to July 2016.

Despite his outstanding background, both academically and politically, he never moved out of his neighborhood, a small and crowded black neighborhood in Harrington Park, New Jersey.

His parents, Carolyn Rose and Cary Alfred Booker, were among the first black executives at IBM, and the tradition of excellence his parents represents makes Senator Booker believe that, given the opportunity, black childr…