In the News: Bank of America Cutting 10,000+ Jobs; iPad 3 Coming and More

Headlines around the web

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Businesswoman holding fired sign board, portrait

Bank of America is set to eliminate at least 10,000 jobs (Image: Thinkstock)

  • Bank of America Cutting More Than 10,000 Jobs

Bank of America is set to eliminate at least 3,500 jobs in the coming months, as the beleaguered financial giant seeks to cut costs and restructure amid deepening shareholder dissatisfaction.

Read more at the New York Times…

  • Black Researchers Trail Behind in Obtaining Grants

Even with equal training and research merits, a new study reveals that Black researchers still have trouble securing federal medical research money compared to other racial groups.

The study, reported on by USA Today, shows that Black researchers have about two-thirds of the chance of Whites to receive grant funding. But Black researchers aren’t just lagging behinds Whites in their efforts to secure funding.

Read more at The Atlanta Post…

  • Michelle Rhee Challenged at Martha’s Vineyard Forum

Former District of Columbia Public Schools Chancellor Michelle Rhee was a frequent target at a forum on education on Martha’s Vineyard last night. Rhee, who resigned as head of district schools after Mayor Adrian Fenty lost his re-election bid last year, took shots from both education historian Diane Ravitch and Harvard sociologist Lawrence Bobo.

Read more at The Root…

  • King’s Nephew Set to Head Civil Rights Group

Two and a half weeks after the sudden death of its president, the Southern Christian Leadership Conference has named a nephew of the Rev. Martin Luther King Jr. as its new leader.

Isaac Newton Farris Jr., 48, was elected on Monday (Aug. 15) to lead the Atlanta-based organization that has mobilized churches to fight discrimination.

Read more at HuffPost Black Voices…

  • iPad 3 Coming in Early 2012

Apple has reportedly begun trial production on its next-generation iPad tablet device and it’s scheduled to launch in early 2012.

According to the Wall Street Journal, Apple has begun ordering chips, display panels and other key components for the iPad 3. It is reportedly expected to feature a high resolution (2048×1536), 9.7-inch display, up from the iPad 2′s 9.5-inch, 1024×768 display. (The report didn’t say anything about the iPad 3′s rumored OLED screen, however.)

Read more at Mashable…