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Black MBA NetWire
arrows November 3, 2016
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We have a moral duty to vote. Some have argued that that’s not so. The most prominent opponents of the duty include philosophers Jason Brennan, Loren Lomasky and Geoffrey Brennan. Here are their three most common arguments — and the reasons they’re wrong. (The Washington Post)
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Britain's plans to leave the European Union were thrown into confusion Thursday after a court ruled that members of parliament must be given a say in the process. (CNN Money)
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The clocks turn back this weekend, giving most Americans an extra hour to cash in on sleep. But new research finds they tend to spend less money with fewer hours of daily sunlight. A study by JPMorgan Chase Institute compared purchases by credit and debit card users with its parent bank in two southwest U.S. cities: Los Angeles, which adjusts in and out of daylight saving time, and Phoneix, which follows mountain time year round. (Bloomberg)
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7-Eleven
Career
According to jobvite.com, 45% of all Fortune 500 companies include links to their social media profiles on their career home pages; and 92% of all companies are currently using social media for recruiting. With numbers like these, job seekers can’t afford to opt out of social media in their search. Consider these tips before you embark on your social job search. (Black Enterprise)
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Taking a year off to volunteer, travel, work, and pursue self-discovery isn't just for students. . . . Although gap years are traditionally taken between high school and university, the benefits of a year of self-reflection and personal growth are catching on for older generations as well. (Fast Company)
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Not sure that there is any job that is completely stress-free but I’m pretty certain that there are more jobs that are far more stressful than others—even when they don’t necessarily have to be.The writing off of work stress can silently kill you if you let it. It is in your best interest to get a handle on your stress before it gets a handle on you. (Black Enterprise)
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Northwestern Mutual
Diversity in the Workplace
An outdated, hazy understanding of race led a federal court to approve of workplace bans on the hairstyle. (The Atlantic)
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International
Egypt tried to draw a line under a deep economic crisis Thursday by allowing its currency to float freely. The move saw the Egyptian pound crash 48% against the U.S. dollar, but should mean the country can now access a huge bailout from the International Monetary Fund. (CNN Money)
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Britain's exit from the European Union casts a shadow over thousands of prospective applicants looking to attend a business school in one of the most desirable MBA markets in the world. (Bloomberg)
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Highmark, Inc
Education
The moment they earn their bachelor’s degrees, black college graduates owe $7,400 more on average than their white peers ($23,400 versus $16,000, including non-borrowers in the averages). But over the next few years, the black-white debt gap more than triples to a whopping $25,000. Differences in interest accrual and graduate school borrowing lead to black graduates holding nearly $53,000 in student loan debt four years after graduation—almost twice as much as their white counterparts. (Brookings)
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Federal Deposit Insurance Corporation (FDIC)
Principal Financial Group
TIAA-CREF
Technology
ProPublica revealed that Facebook allows advertisers a tool that enables them to exclude "ethnic affinities" like African-Americans or Hispanics from viewing their ads. (Facebook does not ask users about their race, but it does collect data based on posts they like or comment on.) This goes well beyond targeting different styles of advertising to certain groups, which is common. Instead, it specifically prevents a black or Hispanic Facebook user from seeing a particular ad. (Business Insider)
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And while this generation (millennials) is hugely influential, by-and-large it’s not active when it comes to voting. The good news is companies and entrepreneurs have taken notice and are rolling out new applications and services aimed at increasing millennial engagement. (Tech Crunch)
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Alphabet Inc.'s Google is redoubling efforts to help developers of Android mobile apps build their businesses as concerns mount that the app economy has reached saturation. (Entrepreneur)
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New York City wants to be the next American tech powerhouse, and to get there it is tripling its investment in programs for computer science students. (Voice of America)
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Entrepreneurship
The Goldman Sachs program is an investment to help entrepreneurs create jobs and economic opportunity by providing greater access to education, capital and business support services. (The Baltimore Times)
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After establishing OWN as a cable behemoth, Oprah Winfrey wants to expand its digital presence and put the brand right in viewers' hands.Today OWN, the media mogul's cable network, launches Bold Moves, its first mobile game. The game is a feel-good cross between Candy Crush and Wheel of Fortune: Players must solve match-three puzzles with tiles in order to fill in the missing letters from quotes and mantras that the former talk-show doyenne has curated over the years. Of course, they can also purchase power-ups along the way, which range from $.99 to $19.99, to get help or new lives. (Fast Company)
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A study of race and Uber found the company’s drivers in Boston canceled pickups of riders with African-American-sounding names at double the rate of those with names more likely to belong to a white person. (The Boston Globe)
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The Economy
On November 8, voters in four states -- Arizona, Colorado, Maine and Washington -- will vote on ballot initiatives calling for a higher minimum wage. None are calling for $15 an hour, the Holy Grail of many minimum wage campaigns these days. (CNN Money)
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The recent US jobs data underscore a striking faultline running through the economic expansion in America. The jobs recovery for white workers appears to be substantially complete; among African-Americans it has only recently gained real momentum. (Financial Times)
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Personal Finance
White and Asian borrowers are more likely to be approved for a conventional loan than black or Hispanic borrowers, according to the latest federally released data from the Home Mortgage Disclosure Act (HMDA). The disparity persists despite improvements in mortgage access for borrowers over the last few years. (PR Newswire)
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Millions of Americans are finding out this month that the price of their health insurance is going up next year — as it did this year, last year, and most of the years before that. And it's not just that the price is going up, it's that it goes up faster than wages and inflation, eating away at our ability to pay for other things we want (beer, televisions, vacations) or need (rent, heat, food). Does it have to be this way? Why does health care grow so much faster than almost any other spending category so consistently? And will it ever stop? (Associated Press)
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Naylor Association Solutions
Corporate America
The simmering public outrage over drug prices finally seems to be catching up to the pharmaceutical industry. Earnings reports in recent days have laid out a grim picture of slumping sales and anemic growth projections at several large drug makers and wholesalers. Executives blame many factors — including heavy competition and hardball tactics from insurers — but analysts say the bottom line is crystal clear: Pharma can no longer count on steadily hiking drug prices. (The Boston Globe)
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Government
President Barack Obama's legacy health care law has reduced the number of Americans going without health insurance to historically low levels, but continued progress threatens to stall this year, according to a new government report. (Associated Press)
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The Federal Reserve on Wednesday continued its slow march toward higher interest rates, signaling that it remains on track to raise its benchmark interest in December for the first time this year but holding off on an increase this month. (The New York Times)
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A report by the UN Working Group of Experts on People of African Descent made 35 diverse recommendations for black Americans from establishing sovereign human rights commissions to the reinstatement of voting rights of former felons. (The Wire)
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Leadership
How can managers — from the front lines to the C-suite — thrive in the age of AI? To find out, we surveyed 1,770 managers from 14 countries and interviewed 37 executives in charge of digital transformation at their organizations. Using this data, we identified five practices that successful managers will need to master. (Harvard Business Review)
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Lifestyle
Some 200,000 African-Americans served as soldiers in the Civil War. Quite a lot fewer served as doctors or nurses - just 13, to be exact. A new exhibit at the Ohio State Medical Heritage Center - called "Binding Wounds, Pushing Boundaries: African-Americans in Civil War Medicine" - tells their stories. (WOSU)
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