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Black MBA NetWire
arrows September 30, 2016
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According to this analysis on MarketWatch from earlier this year, small businesses with less than $10 million in assets who filed a "C-Corporation" return in 2014 faced a 1 percent chance of being audited. That number goes down to 0.4 percent for those of us filing "S-Corporation," partnership or multi-member Limited Liability Corporation (LLC) returns. Could it go lower? (The Washington Post)
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Britain voted 100 days ago to leave the European Union, but the U.K. economy appears to be humming along nicely despite the decision to divorce its biggest trading partner. Government borrowing declined in August, inflation held steady and consumer spending increased by 10% -- its biggest jump in more than a decade. Factory data have been positive and activity in the services sector, which accounts for nearly 80% of the economy, rose 0.4% from June to July. (CNN Money)
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Visitors to the $540 million building, designed to resemble a three-tiered crown, will encounter the sweeping history of black America from the Middle Passage of slavery to the achievements and complexities of modern black life. (The New York Times)
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7-Eleven
Career
You’re fully prepared for the interview, and you ace it. You know the offer is coming, and you’re pretty sure it’ll be exactly what your heart desires and then some. The offer comes and your heart sinks; it’s not even close to what you imagined. Or, maybe it is, but you want more. It’s time to negotiate. (Black Enterprise)
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Love them or hate them, open floorplans aren't going anywhere soon. And while the research is still coming in on whether office design directly impacts productivity, managers are still faced with redesigning their attitudes in order to keep their teams working effectively, not just their architecture. (Fast Company)
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Northwestern Mutual
Diversity in the Workplace
With Hillary Clinton running for president, a woman may soon hold the top job in the country. Yet according to research by Catalyst, only 25% of senior-level jobs are filled by women at S&P 500 companies. From 2010 to 2016 the percentage of women heading companies in the S&P 500 index inched from 3% to 4%. We still have a ways to go to create real change. If not now, then when? (Forbes)
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Diversity, a recurrent theme in the discussions about workforce, is gaining prominence with the developing industry scenario. It is becoming the most discussed term these days in corporations and at the boardrooms. While addressing diversity, the understanding still remains clichéd with major focus on a diverse women workforce. However; diversity cannot be labelled into big blocks like, male or female, old or young or nationalities. It goes beyond all disciplines and brings together a combination of talent with new ideas and perspectives for organization's long-term success. (Business World)
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International
Walmart is taking another run at breaking into the Indian market -- this time by writing a fat check.The retail giant is reportedly in talks to invest up to $1 billion in Flipkart, the top e-commerce firm in a market that Walmart has repeatedly failed to crack. (CNN Money)
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Deutsche Bank AG jumped the most in almost six months after a media report that the lender is nearing a $5.4 billion settlement with the U.S. Department of Justice, less than half the amount initially requested. (Bloomberg)
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China’s richest man is going for glamour with his latest Hollywood blockbuster. Billionaire Wang Jianlin is in discussions to acquire control of Dick Clark Productions at a valuation of about $1 billion through his Dalian Wanda Group Co., according to people with knowledge of the situation. Dick Clark Productions would be the latest trophy in an empire that includes theater chain AMC Entertainment Holdings Inc. and movie producer Legendary Entertainment. (The Wall Street Journal)
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Highmark, Inc
Education
The NAACP’s outward stance against the establishment of charter schools has some Black education leaders ready to go toe-to-toe over the matter. The organization’s opposition has caused quite a rift among Black advocacy groups — so much so that one leader abandoned his position over the group’s call for a moratorium on public charter schools. (Atlanta Black Star)
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Business schools have been streamlining their application processes but this has not made it any easier to get into a top MBA program. Average acceptance rates at the top-10 ranked schools by the Financial Times are a lowly 19.66%, according to a BusinessBecause analysis, and have barely changed from last year. (BusinessBecause)
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Federal Deposit Insurance Corporation (FDIC)
Thermo Fisher Scientific
Principal Financial Group
TIAA-CREF
Technology
Ime Archibong was eating lunch on Facebook's Silicon Valley campus with former colleague Makinde Adeagbo last year when Adeagbo pitched the idea for /dev/color, a nonprofit organization to bring together and grow the ranks of African-American software developers. (USA Today)
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Facebook wants you and its other 1.7 billion to stream more live video. So coming soon to a television screen near you: A major advertising campaign for Facebook Live. It's another bid persuade regular people to embrace what public figures and publishers already have. (USA Today)
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"Your driver has arrived... somewhere." That’s what the notification should say when your Uber driver doesn’t arrive at your exact location. But master these simple tips and you’ll be done with the days of wandering up and down the block, trying to find your ride. (The Wall Street Journal)
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Entrepreneurship
Expanding your office is one of the most exciting and important moves a young company can make, but that doesn’t mean it comes without anxiety.Setting goals, budgeting, hiring, holding investor meetings, and planning are huge priorities. And with that type of acceleration, other essentials can sneak up on a CEO, including the physical space we work in. (Black Enterprise)
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The Economy
U.S. consumers tapped the brakes in August, signaling slower but sustained growth for a key pillar of the economy. Personal consumption, which measures how much Americans spent on everything from new cars to nursery schools, was unchanged in August from a month earlier, the Commerce Department said on Friday. That was the weakest reading since March. (The Wall Street Journal)
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Personal Finance
Racial wage gaps are wider today than in 1979 due largely to discrimination and growing income inequality, according to new research from the Economic Policy Institute. The average wage gap between black and white workers was 18.1 percent in 1979, with the gap widening to 26.7 percent in 2015, the left-leaning think tank reports. (Progress Illinois)
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Naylor Association Solutions
Corporate America
Whether opening new accounts at black banks will ultimately turn around neighborhoods ravaged by a lack of investment and jobs, however, is being questioned by experts who have watched banking for decades. This is not the first time a movement has emphasized supporting black banks, and a previous one during the civil rights era fell flat, said William Bradford, a University of Washington finance professor. (Chicago Tribune)
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When Angelique Kerber won the U.S. Open in September to bring the women’s tennis title to Germany, she was decked out head-to-toe in gear by Adidas. NFL wide receiver DeAndre Hopkins kicked off the Houston Texans season wearing cleats designed by rapper Kanye West, part of Adidas’s strategy of mixing sports and hip-hop culture that’s resonating with kids. Even celebrities such as Katie Holmes and Kristen Stewart lately have been seen sporting Adidas’s back-to-basics Stan Smith tennis sneakers, which some fashionistas have taken to mixing with couture wear. (Bloomberg)
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Dunkin’ Brands Group said its donut chain will partner with Coca-Cola to launch a line of cold coffee beverages in the United States, its first foray into the ready-to-drink coffee market.The Dunkin’ Donuts chain operator said the beverages, set to launch in early 2017, will be manufactured, distributed and sold by Coca-Cola. (Fortune)
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Lifestyle
The new Smithsonian National Museum of African American History and Culture opened Saturday in Washington, D.C.The senior project manager for the museum, Zena Howard, spoke with CBS 6 anchor Angie Miles Saturday night about her role in the monumental undertaking. Below is a transcript of their conversation. (WTVR)
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