• Money

by michelr

November 27, 2023

Issa Rae Says Having Multiple Streams Of Income Is The Key To Success

Actress, writer, and producer Issa Rae says the key to success is having multiple streams of income as she launches a recording company.

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Originally Published Feb. 21, 2020

Actress, writer, and producer Issa Rae says the key to success is having multiple streams of income in a recent interview with Billboard.

The interview delved into Rae’s newest venture, a recording company called Raedio, that she and her business partner, Benoni Tagoe, launched in October. Tagoe described it as an audio content company comprising publishing, live events, music supervision, a music library, and a label that’s a joint venture with Atlantic Records.

“I always say that I model myself after Diddy, Ellen, and Oprah: Oprah for being able to diversify her businesses and being a major influencer in that way; Ellen for being able to make a business out of being herself; and Diddy for his business acumen in expanding beyond hip-hop. I’ve looked to them in terms of ways to make my own imprint,” Rae said

During the interview Rae was asked where she got her business acumen from. “It comes from being on the internet,” she said. “When I just wanted to put out some s**t that I had written, and then being forced to market it and then build a team around it and then having ideas about promoting it.

“Even from a young age, my mom used to call me bossy. Only now do I realize that I wanted to be that,” she continued. “I wanted to be a boss because, why the f**k not? I liked feeling like I was working or in business. I liked feeling like a leader. And it is not always fun, by any means, but there’s an element of accomplishment that I feel in executing projects.”

Along with the record label, Rae has recently partnered with Los Angeles-based creatives on a coffee shop in Inglewood and invested in a streaming analytics business, according to Moguldom.

“South L.A. is my home and joining Ajay and Yonnie as owners of this community-driven endeavor is a dream come true,” she said about the coffee shop. “Hilltop’s mission to uplift our communities through food and fellowship falls right in line with my passions and I’m proud to highlight and amplify such a meaningful business.”

RELATED CONTENT: The UPS Ignite Program Ignites Success and Growth for Minority-Owned Businesses

The Caribbean’s first peer-to-peer car rental platform, Rent Yuh Ride (RYR), launched recently in Kingston, Jamaica—and it was created by a team of black women.

Peer-to-peer car sharing is a form of collaborative consumption in which a person who has a car they are not using can earn extra money by renting it out to someone who needs one, according to Drivemycar.com. The emerging peer-to-peer car rental sector is projected to grow at 10% annually. With the Caribbean being a popular vacation destination, getting into this market can be very lucrative for all involved.

Eventually, RYR will expand across the Caribbean–-frequented by over 22 million travelers annually.

Further boosting its new platform, RYR will partner with the Insurance Company of The West Indies (ICWI), which provides motor insurance across the Caribbean, to provide private rental insurance to car owners at a discounted rate. In addition, RYR will use Jumio for online identity verification in order to authenticate users on the platform.

The Rent Yuh Ride platform will be accessible online from any location, at any time. It’s a marketplace where car owners can sign up, upload their vehicle info and documentation to be approved and listed on the company site for free. Simultaneously, travelers can sign up, search through available vehicles in their desired destination, choose a pickup location, and then book. Once the vehicle has been picked up, the owner gets paid electronically. When it is returned, the transaction is completed and both parties can leave each other a review.

“Travelers deserve a better way to rent cars, they need options and what’s available just doesn’t cut it,” explained RYR founder and CEO Cherie Williams.

• Career

by michelr

March 6, 2020

[UPDATE] Denny’s Waitress Gets Bad News About $4,000 Tip A Customer Left For Her

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UPDATE: Bad news for Shikira Edwards, a Denny’s waitress in Memphis, Tennessee.

Denny’s has completed its investigation and it appears the tip was for $4, not $4,451.61. 

The eatery issued the following statement:

Denny’s has conducted a thorough investigation into this matter and has discovered the tip in question was made in error. This investigation involved the franchise, its manager and staff, the guest and his bank. The investigation required coordination and communication between all parties, which resulted in a longer process than initially anticipated. It was ultimately determined that the guest, who is elderly and unfamiliar with the debit system used at this location, entered a tip amount of $4,451.61 when he intended to leave a $4 tip on his bill.

 

Denny’s would like to make it clear that we would never withhold tips or wages from any of our employees. However, Denny’s also has an obligation to ensure that our guests are charged the proper amount for their meals. In this case, Denny’s was obliged to investigate and verify the guest did in fact intend to leave such a large tip. Denny’s has met with Ms. Edwards and advised her of the outcome of the investigation and we understand the disappointment our server must feel in receiving this news. We have also taken steps to ensure that staff is better equipped to handle similar situations in the future. Denny’s will always seek to provide the fairest and most reasonable resolution under any circumstances for guests and our employees.

 

Shikira Edwards, a Denny’s waitress in Memphis, Tennessee, has yet to receive a more than $4,000 tip left for her by an anonymous customer on Feb. 12, according to Fox 13.

Edwards was informed by her manager at the end of her shift that a customer had left a $4,451.61 tip. The waitress said she didn’t learn much about the generous tipper only that she appreciated her service. “She appreciated my smile,” Edwards said. “That’s one thing that she did tell me and from there I don’t know.” Edwards, who had been working at Denny’s part-time to pay off student loan debt, said the tip was a timely blessing and a small miracle.

And she still doesn’t have it.

“I’m just hurt that they would tell me something like this as a business, and as being the owner to tell me that this is the only resolution, as to look at if I’m wrong to ask for something I know I deserve,” she said.

Denny’s management said that Edwards is a good employee and it was looking into the legitimacy of the tip. Three weeks later, Edwards was instructed by her manager to track down the person responsible for the tip before she could receive it, according to Fox 13. Edwards said she wouldn’t be surprised if someone at the restaurant tried to keep it for themselves, adding that the business is short-staffed, low on supplies, and is defined by low morale.

Edwards is fighting for this generous tip for a good reason. According to ZipRecruiter, a waitresses’ weekly wages are as high as $5,077 and as low as $212. The majority of waitress wages currently range between $298 (25th percentile) to $500 (75th percentile) across the United States. The average pay range for a waitress varies little (about $202), which suggests that regardless of location, there are not many opportunities for increased pay or advancement.

This article was updated on 3/6/20

Grammy-winning, Oscar-nominated singer and actress Mary J. Blige will serve as the ambassador for the 2020 American Black Film Festival (ABFF), taking place in Miami Beach from June 17–21.

Blige will headline an in-depth conversation about her music career, transitioning into film and TV, and her life journey, according to MSN.com. “So many incredibly talented black filmmakers have come out of the American Black Film Festival, many of whom I’ve had the pleasure to work with and many I can’t wait to collaborate with,” she said in a statement. “As an actress and producer, there couldn’t be a more important event to be a part of. I am a longtime supporter and admirer of ABFF and I am honored to be an ambassador and continue to help foster new talent.”

Past ambassadors include Idris Elba, Tracee Ellis Ross, Regina Hall, Jay Ellis, Morris Chestnut, Omari Hardwick, and Common. ABFF celebrates black filmmakers and promotes diversity in film and TV. In its 24th year, the festival has expanded its program to include the John Singleton Award for Best First Feature Film and initiatives focused on health (“ABFF Fit”) and social impact centered on the black LGBTQIA community (“ABFF Pride”).

Blige is booked and busy. This year she will star in Dreamworks’ Trolls World Tour movie, MGM’s Aretha Franklin biopic, Respect, and the Power spin-off series, Power Book II: Ghost, as Monet. She is also currently in the production phase for an untitled documentary directed by Vanessa Roth about her legendary life and career, under her production company, Blue Butterfly.

With eight multiplatinum albums, nine Grammy Awards, two Academy Award nominations, two Golden Globe Award nominations, Blige has always served as a figure of inspiration and empowerment through her music and films.

by michelr

March 5, 2020

Steve Harvey Obtains Licensing Rights to Bring “Family Feud” to Ghana and South Africa

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Comedian and TV personality Steve Harvey is bringing the iconic game show Family Feud to the continent of Africa. His media company, Steve Harvey Global, has recently obtained the rights to license the game show in both South Africa and Ghana, according to BlackBusiness.com. Harvey is set to launch and host Fremantle’s Family Feud in Africa. It will be produced by Rapid Blue, the local production partner of Fremantle in the region. “Bringing Family Feud to Africa has long been a dream of mine,” he said. “I believe Family Feud will become a household name for local South African and Ghanaian families. And this is just the beginning in Africa. I expect this show to lead to multiple media and business projects in and throughout the continent.”

Harvey’s comedic timing and priceless reactions to the contestant’s wrong answers during his successful tenure is what gave the show its highest ratings. He quickly became a fan favorite among the viewers. According to the HollywoodReporter.com, the game show scored a record 6.1 household rating and a 3.1 among women 25-54 in 2014; at the time, that was the show’s best performance since the advent of Nielsen People Meter technology in 1988 and put Family Feud up a massive 336% in total households since Harvey took over as host in 2010. Family Feud, which is seen in about 96% of U.S. TV homes, had 9.2 million viewers a week at its peak. Over the years, Harvey, who is one of the longest-serving hosts in the game show’s history, generated numerous viral funny video compilations and memes.

Family Feud is one of the longest-running and top-rated game shows in the world. Since its inception in the U.S. in 1976, Fremantle has placed it in over 70 international markets such as the United Kingdom, Australia, France, India, and the Philippines. The latest version of the popular game show in Africa is expected to start airing in the second quarter of 2020.

by michelr

March 5, 2020

BMW Redesigns its Iconic Logo

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BMW’s round logo is receiving its first redesign in more than two decades.

The German automaker’s refreshed logo ditches the black ring for a transparent circle. The rest of it, including the typeface, has a flatter and more modern look. The blue and white emblem inside the ring remains, according to CNN.

The new logo, which will be used in BMW’s communications efforts, including its social media platforms and website, is meant to “radiate more openness and clarity,” Jans Thiemer, BMW’s senior vice president of customer and brand, said in a statement. He added that the new look also symbolizes BMW’s “significance and relevance for mobility and driving pleasure in the future.”

Fans have speculated that the inside of the most recent logo represents a propeller, but BMW said the white and blue pattern represents its German home state of Bavaria. The “propeller myth” originated from the company’s old ads that promoted its airplane engines. Doug Sellers, executive creative director for design firm Siegel+Gale, told CNN Business that the new logo feels “more open and accessible” to younger customers that are digitally savvy.

Including segments MINI and Rolls-Royce, BMW (Bayerische Motoren Werke AG) generated around 97 billion euros in revenue in 2018. As of June 2019, the BMW marque is the third-most valuable automotive brand in the world, according to statista.com.

Furthermore, BMW has announced plans to double electric vehicle sales within two years. If successful, this should increase the company’s electric passenger car market share in Europe, which currently stands at 1%. Full electrification awaits the company’s MINI brand, and the company may even have ambitious ideas for fully electric, high-performance sports cars and motorbikes. The global electric fleet-size is expected to grow ten-fold to 127 million vehicles in 2030.

Rod Johnson and Pernell Cezar are the founders of BLK & Bold, a black-owned coffee company that they created from their headquarters in Des Moines, Iowa, a year and a half ago, according to cuisinenoir.com.

As daily coffee consumers—roughly 64% of Americans start their day with a cup of coffee, according to Reuters—they noticed a lack of representation in an already booming industry. They built BLK & Bold with a charitable hook: 5% of its proceeds go toward issues such as helping eradicate youth homelessness and addressing food insecurities.

“We really wanted to find a way to impact that vulnerable demographic by doing something we do every day, which is enjoying a cup of coffee or tea,” Cezar said. “The vision of the brand goes back to amplifying contribution and awareness of how for-profit can be this engine for domestic impact.”

Cezar and Johnson oversee every operational step, which begins with identifying importers. Roasting and cupping (the formal practice of tasting the coffee), as well as packaging and distribution, all happen from their Des Moines facilities.

Looking toward the future, the duo is planning a line of specialty beverages, including single-serve coffee bags in compostable packaging and ready-to-drink beverages.

“The more we can build access and distribution within our markets, the more that 5% [donation will] correlate back to their market and it can become more sizable and more normalized. We want to create a new model for new representation for all these things that have already existed and never had a way to connect,” Johnson told Cuisine Noir.

by michelr

March 4, 2020

Meet the Black Engineer Who Changed the Video Game Industry Forever

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A black engineer named Jerry Lawson oversaw the creation of the Channel F, the first video game console with interchangeable game cartridges; a feature that was missing from the first iterations of popular consoles such as Atari and Magnavox Odyssey systems.

Those initial consoles had a selection of games hardwired into the console itself. (The Magnavox Odyssey, released in 1972, also used game “cards” that were printed circuit boards, but did not contain game data as the subsequent cartridges did.)

Lawson, an engineer and designer at Fairchild Camera and Instrument Corp., led a team at the Silicon Valley semiconductor maker charged with creating a game system using Fairchild’s F8 microprocessor and storing games on cartridges, according to USA Today. “A lot of people in the industry swore that a microprocessor couldn’t be used in video games and I knew better,” Lawson said during a speech at the 2005 Classic Gaming Expo in San Francisco. The Fairchild Video Entertainment System, later named the Channel F (for “Fun”), began selling in 1976 and had games such as hockey, tennis, blackjack, and a maze game that foreshadowed Pac-Man.

The evolution of the video game industry is something to marvel, from graphics to gameplay to the revenue it generates. From PC gaming to console gaming, video game profits are expected to reach $180.1 billion in 2021, according to TechJury.net. The game design services market share is expected to grow by 59%. PC games are predicted to generate $32.3 billion in profits in 2021 and to have 19% of the global games market. Console games, on the other hand, will get 22%.

If not for Lawson’s contributions to the gaming industry, there is no telling where it would be today; he literally created the blueprint for years to come. Lawson died in 2011 at the age of 70 due to complications of diabetes but his place in history is cemented. An exhibit of Lawson’s handiwork is on permanent display at the World Video Game Hall of Fame at the Strong National Museum of Play in Rochester, NY.

• News

by michelr

March 3, 2020

Congressman John Lewis Urges Attendees of Selma’s ‘Bloody Sunday’ Commemorative March to Vote

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Georgia Rep. John Lewis surprised attendees at this year’s Bloody Sunday commemorative march in Selma, Alabama, imploring all attendees to vote, CNN reports. Attendees marched in remembrance across the Edmund Pettus Bridge in the afternoon to commemorate the freedom-marchers who were clubbed and tear-gassed by state troopers as they peacefully marched over the same bridge over half a century ago on March 7, 1965. Seventeen people were hospitalized including Lewis after being injured by police while dozens more were hurt. The protest was held against the denial of civil rights to Americans based solely on the color of their skin, which prompted the passage of the Voting Rights Act of 1965.

“Fifty-five years ago, a few of God’s children attempted to march … across this bridge. We were beaten, we were tear-gassed. I thought I was going to die on this bridge. But somehow and some way, God almighty helped me here,” Lewis said during his remarks on Sunday at the apex of the bridge, “We must go out and vote like we never, ever voted before.” Lewis also encouraged those attending to use their vote as “a nonviolent instrument or tool to redeem the soul of America.”

“To see hundreds and thousands of young people with their mothers, their fathers, their grandparents, great grandparents, to see Black and White people, Hispanics, and others standing together, marching together, walking together, to not forget what happened and how it happened,” he said.

“We got to make America better for all of her people. When no one is left out or left behind, because of their race, their color, because of where they grew up, or where they were born,” he added. “We’re one people, we’re one family.”

It was unclear if Lewis would be able to attend the commemorative march as he was diagnosed with stage 4 cancer back in December but a spokeswoman for the commemoration march organizers told CNN that Lewis would be at the front of the march participants—the same position he has been at previous anniversary marches.

Todd Baldwin is a 27-year-old millionaire who saves 80% of his income a year and refuses to spend his money on restaurants and the movies, CNBC reports.

Baldwin brings in roughly $615,000 ($305,000 after business expenses) thanks to a few streams of income from rental properties, his day job working in commercial insurance sales, and the extra income he makes as a secret shopper. The majority of his revenue comes from the six rental properties that he owns with his wife, Angela. They earn $460,000 per year in rent. After expenses, including mortgage payments, taxes, insurance, and utilities, they keep about $150,000 of that per year.

“Although our net worth is seven figures, we don’t do a lot of the typical things that most people envision millionaires doing. We are super frugal,” Baldwin said. The millennial millionaire refuses to spend money on entertainment, he told CNBC Make It, “but only because I know how to get paid for that.” Baldwin is a “secret shopper” who gets paid for dining out, going grocery shopping, seeing movies, and even visiting hotels and casinos.

Being a mystery shopper, the exact amount you earn per outing will vary. Most companies pay a flat rate between $5 and $25. You’ll spend another 30 minutes to an hour writing your report for the company you shopped for, according to realwaystoearnmoneyonline.com.

Baldwin has made about $30,000 since he started mystery shopping years ago in college. The surveys he fills out after the experience aren’t too time-consuming. For that reason, he has a hard time justifying spending money at movies and restaurants. “If a buddy wants to go to a bar or someone wants to go see a movie, I usually try to wait until I can get a mystery shop,” he says, “because if you’re going to go there anyway, you might as well get it for free and get paid on the top.”

In a world where most people make spontaneous purchases, Baldwin’s frugal spending habits are a smart move. According to Entrepreneur.com, three of the main reasons that millionaires go broke or bankrupt are they didn’t have several streams of income, they made pricey or emotional purchases, and they didn’t track their spending.