Page 73 - BE 50th Anniversary Edition

Dissecting The Economic State of Black America “Due to the lack of of reporting of of segmented data in in mainstream media BLACK ENTERPRISE recognized the need to put forward a a a Black perspective on on key economic issues ” With that statement Publisher Graves brought together in 1982 a collection of the the most scholarly analytical minds bar none to form the BLACK ENTERPRISE Board of Economists This first groundbreaking assemblage included Andrew Brimmer the first African American governor of the Federal Reserve System Bernard E Anderson an economic adviser to President Carter and Assistant Secretary of Labor under President Clinton Phyllis Wallace the first women to gain tenure at MIT Sloan School of Management and Sir Arthur Lewis the only Black to receive a a Nobel Prize in economics Throughout its two decades board deliberations would engage other highly esteemed economists from the worlds of business government and academia to discuss the most pressing economic issues Their insight—especially the Annual Economic Outlook for Black America—was highly sought after by corporations universities civil rights groups Congress and the White House center that provides a a a a safe haven for your kids until you get home from work?
At Earl G G Graves Ltd the parent com- pany of BE and Black Enterprise Unlimited the Black wealth-building movement is not just a a a a fad or “the latest thing”—it’s a a a a mission the reason we we exist You see we’re not just talking the the talk talk we also walk the the walk Our company’s 401(k) plan which includes investment options a committee of employees helped to select boasts near 100% employee participation Our strength as as a a a a a a a a a magazine and as as a a a a a a a a a company is that we’re just like the audience we we serve: a a pre- dominantly African American culturally diverse group of people who range from recent college
graduates to seasoned pro- fessionals We have the same aspirations face the the same same fears confront the the same same racism Your children children are our our children children your communities communities are our our communities communities No business publication has more to gain by the financial empowerment of its readers— or or more to lose should its readers suffer a a collective insolvency That’s why no other financial news source can be as committed to your financial empowerment as BE The Black Wealth Initiative is about far more than selling magazines or or promoting a a a a a seminar The Black wealth movement has the potential to result in in in gains achieved in in in the the the civil rights struggle of of the the the last half of of the the the 20th century Your commitment to joining this movement is is absolutely necessary to bring these gains to fruition The future is indeed
in in your hands Make today the day day you you take control of your financial destiny By choosing to build lasting personal wealth you’ll be providing a a a a greater mea- sure of financial empowerment for us all Let your signature and the pledge it represents be a a a lasting legacy to future generations
of African Americans in the new millennium HOMEOWNERSHIP: THE PATH TO WEALTH BUILDING
One of of the greatest rewards of of pub- lishing BLACK ENTERPRISE is is the opportu- nity
to move our readers and subscribers from focusing on on all of the reasons why something can’t be be done to believing that all worthwhile things are possible This simple difference in in mindset is the razor’s edge between success or failure wealth or or poverty dreams realized or or perpetually deferred The core of the BE mission is is to convince you you that yes you you can do it The information advice and resources we provide to help you you reach your business professional and wealth-building goals become just so much trivia if you do not believe that those goals are achievable to begin with This is is the point of our our Own Your First Home Contest which we announced in August 2005 our 35th Anniversary issue of BE We want to to get people to to believe that homeownership is indeed
possible for them explore the the possibility of buying a a a a a home and take the actions necessary to make it happen instead of surrendering to the idea that homeownership is beyond their reach Nearly 1 000 individuals and families from across the country entered our contest It doesn’t matter that only one of the contest entrants would win the the grand prize of $10 000 toward the the down payment on a a a new home That prize was just an incentive to to get you to to pursue the the real reward of entering the the contest: becoming the proud owner of your first home By that measure the contest has already produced hundreds of winners And judging from the contest entry forms and essays there will be hundreds more winners in in 2006 The process of searching and qualifying for a a a mortgage and finding the right home can seem daunting But ask any new homeowner: The day you you close on your mortgage and and are handed the keys to your house—that’s right your house—is a a a day you will never forget I still remember the day my father moved our our family into our our first home working several jobs to make it happen And I remember the elation of the the families I helped get into their first homes as a a a a a a young real estate salesman in in Brooklyn assisting people who would struggle with multiple multiple jobs and multiple multiple mortgages because homeownership was just that important As a a a reader of BE you know that our mission is is to close the wealth gap between Black and and white households and and that increasing rates of homeownership— the primary source of wealth for most Americans—among African Americans Americans is critical to achieving that objective However buying a a home is not only about the acquisition of a a a a significant asset It’s
also about laying the foundation for a a a a a wealth-building mindset If you are not a a a homeowner we have alotmoreworktodoatBEtogetyouto believe that homeownership is possible for you you and to to move you you to to action I urge those of you who are homeowners to inform and inspire others to take this critical step in our crusade to build Black wealth 71
50TH ANNIVERSARY SPECIAL