Operation Reach B.L.A.C.K. - Economic News

President Obama talks trip abroad, announces new trade deals

2011-11-19T03:01:00.000-08:00

Vice President Biden fills in for this week's address

2011-11-05T06:38:00.000-07:00

Vice President Biden stepped in for President Obama to deliver this week's address. In addition to highlighting presidential executive orders on student loans and home refinancing, Vice President Biden also discussed the need to act now on jobs, continuing to pressure Republican lawmakers who have voted against the President's jobs proposals in recent weeks:

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On jobs and economy, President Obama says he'll act where Congress has failed

2011-10-29T06:02:00.000-07:00

President, American Jobs Act, make way to Denver, CO

2011-09-28T16:35:00.000-07:00

Denver, CO - The next stop on President Obama's tour to push the American Jobs Act was a stop in Denver, CO on Wednesday. Talking matters ranging from school renovations to infrastructure, the President kept pressure on Congress to act on the jobs bill:

"Bridges need renovations. Roads need renovations. We need to lay broadband lines in rural areas. There are construction projects like these all across this country just waiting to get started and there are millions of unemployed construction workers ready to do the job. So my question to Congress is, 'What on earth are you waiting for?' Let's get to work."

President Obama answers questions at LinkedIn town hall event

2011-09-27T05:30:00.000-07:00

Mountain View, CA - President Obama continued his push to garner support for the American Jobs Act, as well as discuss the economy in general, with a LinkedIn town hall event in Mountain View, CA. Here is a video of the event:

President Obama advocates infrastructure, jobs at bridge in Cincinnati, OH

2011-09-23T05:46:00.000-07:00

Cincinnati, OH - "Cincinnati, we are better than that." The President spoke this challenge in front of a Cincinnati bridge in need of repairs - a bridge that, according to President Obama, will benefit from the American Jobs Act. The overall theme of the American Jobs Act brought the President to Cincinnati, OH, however it was the pressing issue of jobs that focused the conversation. With infrastructure in need of repair, the President's bill proclaims that it will put construction workers back on the job if it passes Congress.

President Obama connected the dots for what's at stake, arguing that, "...construction companies, have been hit harder by this economic crisis than almost any other industry in America." The President continued:

"And there are millions of construction workers who are still out there looking for a job. They're ready to work, but things have been a little tough. That doesn't mean that there is not plenty of construction waiting to get done in this country."

Turning his attention to the Cincinnati bridge behind him, President Obama pointed to the "Brent Spence Bridge" as an example of the need to put people back to work rebuilding and upgrading the nation's infrastructure:

"Behind us stands the Brent Spence Bridge. It's located on one of the busiest trucking routes in North America. It sees about 150,000 vehicles every single day. And it's in such poor condition that it's been labeled 'functionally obsolete.'"

President Obama returned the conversation to the American Jobs Act,

"This bill is not that complicated. It's a bill that would put people back to work rebuilding America -- repairing our roads, repairing our bridges, repairing our schools. It would lead to jobs for concrete workers like the ones here at Hilltop; jobs for construction workers and masons, carpenters, plumbers, electricians, architects, engineers, ironworkers -- put folks back to work. There is work to be done, and there are workers ready to do it."

Take a look at the rest of President Obama's speech in Cincinnati, OH:

President Obama calls on Congress to pass the American Jobs Act

2011-09-17T03:42:00.000-07:00

The President used his weekly address to further promote his jobs bill, The American Jobs Act. Calling on Congressional leaders to put country before party and pass this bill, the President gave an outline of what the American Jobs Act entails.

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Enhanced video of President Obama's jobs speech to Congress, followed by Q&A

2011-09-09T03:40:00.000-07:00

In a determined speech to a joint session of Congress, President Obama unveiled his highly anticipated jobs bill titled "The American Jobs Act." The President was clear in his intention for congress, which he repeated time and time again . . . "Pass this bill."

Below is an enhanced version of the President's jobs speech equipped with additional information on the bill and the state of the economy:

The following is a Q&A that followed the President's speech:

With jobs in mind, President Obama urges extension of transportation bill

2011-09-03T03:50:00.000-07:00

Following a poor showing in the monthly jobs report, which yielded zero net job growth and an unchanged 9.1% unemployment rate in August, President Obama urged Congressional action on yet another piece of legislation with an impact on American jobs: the transportation bill.

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President outlines steps forward on revamping the economy

2011-08-06T04:41:00.000-07:00

On the heels of a week that saw a steep drop in the stock market coupled with slight improvement in jobs numbers, but a controversial downgrade in the Standard and Poor's U.S. credit rating from AAA to AA+, President Obama used his address to set a list of policy goals that hope to improve America's situation moving forward. The President was focused on job creation.

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The President's message to Washington: "We need to get our house in order"

2011-07-30T05:28:00.000-07:00

Days before Tuesday's August 2nd deadline to raise the nation's debt ceiling, President Obama took to this week's address with a very simple message: Washington needs to get its house in order.

The way to do this, according to the President, is to accept a bipartisan deal that, in President Obama's words, ". . . must have the support of both parties that were sent here to represent the American people -- not just one faction of one party." Keeping this week's events in mind, it seems reasonable to assume that President Obama was speaking towards the Tea Party faction of the Republican party.

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President calls for balanced fiscal approach, urges policy before politics

2011-07-16T04:13:00.000-07:00

In his weekly address, the President restated the belief he's shared in multiple press conferences over the past few weeks: that tackling the deficit will require a balanced approach where both parties make hard decisions for the greater good.

For Democrats the President discussed domestic spending cuts, however, when it came to Republicans, President Obama remained focused on the need to put corporate tax loopholes and tax cuts for the wealthy on the table.

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President urges bipartisanship heading into weekend meeting on the deficit

2011-07-09T05:14:00.000-07:00

Heading into this weekend's meeting with Democrats and Republicans, President Obama urged bipartisanship in addressing the deficit, not political gamesmanship. The President outlined his approach to fixing the nation's issues:

"Now, there are obviously real differences in approach. I believe we need a balanced approach. That means taking on spending in our domestic programs and our defense programs. It means addressing the challenges in programs like Medicare so we can strengthen those programs and protect them for future generations. And it means taking on spending in the tax code - spending on tax breaks and deductions for the wealthiest Americans."

President Obama restates priorities on the deficit, says tax-cuts for the wealthy should be on the table

2011-07-02T05:41:00.000-07:00

The President reiterated his stance on taxes in this week's address. When it comes to tackling the deficit, President Obama made it clear that tax-cuts for the wealthy should be on the table.

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President Obama talks new AMP initiative for manufacturing

2011-06-25T05:40:00.000-07:00

Transitioning from his speech on withdrawing troops from Afghanistan, the President used this week's address to refocus the task of building the American economy and creating jobs,

"After a decade of conflict, we're finally bringing these wars to a responsible end.

That's in the best interest of America's security. And it's also in the best interest of America's economy. Even though we've turned our economy in the right direction over the past couple of years, many Americans are still hurting, and now is the time to focus on nation building here at home."

President Obama's Weekly Address:

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President announces manufacturing initiative to strengthen job force through community colleges

2011-06-11T06:27:00.000-07:00

Addressing concerns over the economy, President Obama focused this week's address on a new partnership involving the private sector and community colleges aimed at strengthening the workforce. Still, speaking to economic concerns, the President first reminded everyone that the US just came through "the worst recession since the Great Depression" and cautioned that it will take time to completely turn things around:

"We've just come through the worst recession since the Great Depression. And, while our economy as a whole has been growing and adding private sector jobs, too many folks are still struggling to get back on their feet. I wish I could tell you there was a quick fix to our economic problems, but the truth is we didn't get into this mess over night, and we won't get out of it over night. It's going to take time."

Moving forward, the President discussed a new partnership between the private sector and community colleges that will provide students with a chance to hone their skills in the manufacturing sector, a move the President says could help prospective employees stand out to future employers:

"On Wednesday, I announced commitments by the private sector, colleges, and the National Association of Manufacturers that will make it possible for 500,000 community college students to get a manufacturing credential that has the industry's stamp of approval. If you're a company that's hiring, you'll know that anyone who has this degree has the skills you're looking for. If you're a student considering community college, you'll know that your diploma will give you a leg up in the job market."

Here is the video of that announcement:

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President Obama speaks on repaid loans and job creation in the auto industry

2011-06-04T06:51:00.000-07:00

President Obama's Weekly Address (6/4/11): The auto industry and "bumps on the road to recovery" in our economy

2011-06-04T06:33:00.000-07:00

President talks auto industry, addresses economic "bumps on the road to recovery"

In this week's address, President Obama discussed manufacturing jobs in the auto industry. Speaking from a Chrysler auto plant in Toledo, OH, President Obama hailed the recent success of Chysler's ability to repay its federal loans, and discussed how jobs are coming back to the industry now that the major auto companies are regaining traction on the economic front:

"Today, each of the Big Three automakers - Chrysler, GM, and Ford - is turning a profit for the first time since 2004. Chrysler has repaid every dime and more of what it owes American taxpayers for their support during my presidency - and it repaid that money six years ahead of schedule. And this week, we reached a deal to sell our remaining stake. And that means soon, Chrysler will be 100% in private hands.

Most importantly, all three American automakers are now adding shifts and creating jobs at the strongest rate since the 1990s. Chrysler has added a second shift at the Jefferson North plant in Detroit that I visited last year. GM is adding a third shift at its Hamtramck plant for the first time ever. And GM plans to hire back all of the workers they had laid off during the recession"

Vice President Biden talks Chrysler's repaid loans

2011-05-28T04:35:00.000-07:00

Vice President Biden filled in for the President this week to discuss the news that Chrysler repaid its auto-loans from the federal government:

"When President Obama and I came into office we faced an auto industry on the brink of extinction - total collapse. At the time, many people thought that the President should just let GM and Chrysler go under. They didn't think the automobile industry was essential to America's future. The President disagreed."

President Obama's Weekly Address (5/14/11): President talks domestic oil production

2011-05-14T06:27:00.000-07:00

President talks three-pronged approach to energy concerns

Keeping with a theme that has lasted for several weeks, President Obama once again used his weekly address to discuss energy concerns. The President laid out a three-pronged approach to the issue consisting of 1) addressing fraud and manipulation in the markets; 2) expanding domestic oil production; and 3) ending taxpayer subsidies to oil and gas companies.

President Obama stated that the issue of consumer protections and anti-fraud measures will be taken up by a task force led by Attorney General Eric Holder:

"First, we should make sure that no one is taking advantage of consumers at the pump. That's why we've launched a task force led by the Attorney General that has one job: rooting out cases of fraud or manipulation in the markets that might affect gas prices, including any illegal activity by traders and speculators."

Keeping safety and environmental standards in mind, the President noted that his plan for domestic oil production includes measures in the mid and south Atlantic as well as lease sales in Alaska and the Gulf Coast

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President Obama's Weekly Address (5/7/11): Clean energy a source for jobs and strengthened economy

2011-05-07T06:20:00.000-07:00

In this week's address, President Obama stressed the need for continued investments in clean energy as a source for jobs and a strengthened economy. The answer to our energy concerns, the President continued, requires both a short term and long term approach. However, President Obama made it clear that he believes that long term solutions focused on clean energy are the only way to truly reduce our dependence on oil.

President Obama's Weekly Address:

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President Obama's Weekly Address (4/30/11): Pushing to end oil subsidies

2011-04-30T06:06:00.000-07:00

President on oil subsidies: "These tax giveaways aren't right. They aren't smart. And we need to end them."

In his weekly address, President Obama continued his push to end taxpayer subsidies for oil companies:

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President Obama's Weekly Address (4/23/11)

2011-04-23T05:51:00.000-07:00

President talks gas prices

What to do about the cost of gas? President Obama tackled this issue in his weekly address, touching a ray of subjects from oil production in the United States to investments in clean energy alternatives. The President listed several steps his administration is taking to address concerns. Those steps include:

- Safe and responsible oil production at home

- The creation of a task force by Attorney General Eric Holder, focused on finding fraud and manipulation in the oil markets

- Ending $4 billion in tax subsidies given each year to oil companies

- Investing in clean, renewable energy - a step that includes the Administration's Green Fleet Partnership

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President Obama's Weekly Address (4/16/11)

2011-04-16T04:55:00.000-07:00

President Obama discusses deficit: "we don't have to sacrifice the America we believe in"

On the heels of Wednesday's deficit speech, President Obama continued to promote his plan in today's Weekly Address while repeating his opposition to the Republican plan offered by Rep. Paul Ryan (R-WI):

"Now, one plan put forward by some Republicans in the House of Representatives aims to reduce our deficit by $4 trillion over the next 10 years. But while I think their goal is worthy, I believe their vision is wrong for America.

It's a vision that says at a time when other nations are hustling to out-compete us for the jobs and businesses of tomorrow, we have to make drastic cuts in education, infrastructure, and clean energy - the very investments we need to win that competition and get those good jobs. It's a vision that says that in order to reduce the deficit, we have to end Medicare as we know it, and make cuts to Medicaid that would leave millions of seniors, poor children, and Americans with disabilities without the care they need.

But even as this plan proposes these drastic cuts, it would also give $1 trillion in tax breaks to the wealthiest 2% of Americans - an extra $200,000 for every millionaire and billionaire in the country.

I don't think that's right. I don't think it's right to ask seniors to pay thousands more for health care, or ask students to postpone college, just so we don't have to ask those who have prospered so much in this land of opportunity to give back a little more."

President Obama's Weekly Address (4/2/11)

2011-04-10T07:06:00.000-07:00

President Obama discusses energy security and clean alternatives

Introducing his new Green Fleet Partnership, President Obama discussed gas prices, energy security and clean alternatives in this week's address. The President referenced his energy speech from earlier this week (you can view that speech here), and although domestic oil drilling comprises a part of the plan, President Obama rejected the idea that drilling is a sufficient strategy to address our energy concerns:

"In fact, our oil production reached it's highest level since 2003. And we want to encourage more safe, responsible drilling where we can. But the truth is, drilling alone is not a real strategy to replace our dependence on foreign oil. And that's because, even though America uses 25% of the world's oil, we currently have only about 2% of the world's oil reserves. Even if we used every last drop of all the oil we have, it wouldn't be enough to meet our long-term energy needs."

As such, the President talked about efforts that have been made to increase fuel efficiency standards during his tenure in office. As an example, President Obama noted his Green Fleet Partnership in which major corporations as well as the Presidential fleet have agreed to begin a shift towards energy efficient vehicles:

"Already, American car companies are producing electric vehicles that use little or no gas. And innovators across America are testing new products that hold incredible promise, not just for new vehicles, but for countless new jobs.

To help jump start this market, the federal government has doubled the number of clean energy vehicles that we have in our fleet. In the next few years, we're going to switch the entire fleet over. And I'm here at UPS because it's not just the government getting in on the action. Companies like UPS, FedEx, At&T, Verizon, and Pepsi Co - firms with some of the largest fleets in the country - are switching to more efficient vehicles. And through our clean fleet's partnership - driven not by government, but by business - more companies are going to be switching to electric and alternative vehicles to - not out of the goodness of their hearts, but because it's good for their bottom lines.

The goal is simple. When I was elected to this office, America imported eleven million barrels of oil a day. Through these and other steps, by little more than a decade from now, we will have cut that by one third. And by doing so we're going to make our economy less vulnerable to wild swings in oil prices. We're going to use cleaner sources of energy that don't imperal our climate. And we're going to spark new products and businesses all over the country by tapping America's greatest renewable resource, our ingenuity."

President Obama discussed Green Fleets in Landover, MD on Friday:

The president made sure to connect developments in clean energy and higher efficiency standards to a growing economy. Citing this week's positive jobs numbers, President Obama asserted that switching to a clean energy economy will help America win the future and become the home of tomorrow's new jobs and industries. This week's jobs numbers saw the unemployment rate dip to 8.8% as the economy created 216,000 jobs.

President Obama's Weekly Address:

President Obama's Weekly Address (3/5/11)

2011-04-10T06:58:00.000-07:00

Welcomed jobs numbers and a call for bipartisan effort on the budget

President Obama welcomed this week's report where the unemployment rate dipped slightly to 8.9% for the month of February, adding 192,000 jobs. The number of private jobs created has been reported to be, and the President cites this figure, 222,000 jobs. You can look at the monthly jobs report from the Bureau of Labor Statistics here. In discussing these numbers, the President asserted that last December's tax compromise has been a factor in this economic improvement:

"We learned that the unemployment rate has fallen to its lowest level in nearly two years as our economy added another 222,000 private sector jobs last month."

The President continued,

"What's also helping to fuel this economic growth are the tax cuts that Democrats and Republicans came together to pass in December and that I signed into law - tax cuts that are already making Americans' paychecks bigger and allowing businesses to write off their investments, freeing up more money for job creation."

Here's a quick discussion of this week's economic numbers:

Turning his attention towards the budget, President Obama hoped that Democrats and Republicans could strike a similar compromise when it comes to cutting wasteful spending. In this, the President reiterated his stance that he is open to suggestions, but rejected the notion that cuts should come at the expense of areas that are vital to the country's economic growth - namely, education, innovation and infrastructure.

Lastly, President Obama made a distinction between necessary and politically motivated cuts in the budget. And, although he repeated his willingness to work with Republicans to meet them halfway on certain issues, President Obama disputed the notion that cutting for cuts-sake is a helpful approach:

"Getting our fiscal house in order can't just be something we use as cover to do away with the things we dislike politically. And it can't just be about how much we cut. It's got to be about how we cut and how we invest. We've got to be smart about it."

President Obama's Weekly Address:

President Obama's Weekly Address (2/12/11)

2011-02-13T11:43:00.000-08:00

President previews new budget

The President discussed his anticipated fiscal budget as a call for Washington to live within its means. President Obama asserted that his budget will call for, among other matters, sacrifices in spending on programs that he cares deeply about, but would ultimately reduce the deficit moving forward:

"My budget freezes annual domestic spending for the next five years - even on programs I care deeply about - which will reduce the deficit by more than $400 billion over the next decade. This freeze will bring this type of spending to it's lowest level as a share of the economy since Dwight Eisenhower was president."

photo © 2007 zack Mccarthy | more info (via: Wylio)
The Weekly Address also focused on the need to cut wasteful spending and included a reiteration of the President's pledge to veto any bill that has earmarks.

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President Obama's Weekly Address (1/29/11)

2011-01-29T04:54:00.000-08:00

Winning the Future

Reiterating several key themes from the State of the Union Address, President Obama, once again, focused this week's remarks on winning the future by out-competing other nations. The building blocks for success, as laid out by the President, are to reinvest in education and infrastructure, cut wasteful spending, and out-innovate our competitors. Particularly, President Obama restated his goal for innovation in energy, calling for 80% of electricity to come from clean energy by the year 2035.

photo © 2010 Steve Jurvetson | more info (via: Wylio)
President Obama's case for winning the future:

"We'll win the future by being the best place on Earth to do business. That's what we're called to do at this moment. And in my state of the union, I talked about how we get there."

President Obama's Weekly Address (1/8/11)

2011-01-08T07:22:00.000-08:00

President touts recent tax compromise, discusses benefits and incentives for businesses employees and families

In his Weekly Address, the President listed some of the benefits he argues are now being realised as a result of the agreement that was struck on taxes in December. President Obama has been forthright in claiming early success from the compromise, pointing to welcomed improvements on the economic front. Though he acknowledges that there is a long way to go, President Obama argues that the nation has shown signs of a positive economic trend.

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President Obama's Weekly Address (1/11/11)

2011-01-01T06:23:00.000-08:00

President Obama wishes a Happy New Year, looks forward to the year ahead

President Obama used this week's address to extended a New Year's Message to the American people. However, while millions of Americans pledge to eat healthier and exericse more at the start of the new year, the President stated that his New Year's resolution is to grow the economy, create jobs and strengthen the middle class. In doing so, the President hopes to sustain what he recognizes as "a few months of economic news that suggests our recovery is gaining traction."

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President: On verge of passing a small business jobs bill

2010-09-16T01:09:00.000-07:00

Weeks before the mid-term elections, President Obama hopes to add another accomplishment to a list of initiatives aimed at helping the middle class. On Wednesday, the President announced a breakthrough in the Senate on the Small Business Jobs Bill:

"After months of partisan blockade in the Senate, we are finally on the verge of passing a small business jobs bill that will cut taxes and provide loans for millions of small business owners across America."

However, although he hoped to have two Republican Senators on board, President Obama voiced frustration that the process has taken such a long time. Decrying political gamesmanship, President Obama directed his attention at the Republican opposition:

"For months they've used legislative maneuvers to prevent this bill from even coming up for a vote. And all the while, small business owners kept waiting for help. They kept putting off plans to hire more workers and grow their businesses."

New Philadelphia effort pulls for black business

2010-09-11T16:54:00.000-07:00

With power of the Black dollar in mind, news comes of the Philadelphia African American Chamber of Commerce's effort to support black business.

KYW News Radio 1060:

KYW’s Karin Phillips reports at least one survey estimates that there are 1 million African American businesses in the United States, which account for over $100 billion in annual sales. However, only 10 percent of the dollars earned by African Americans go to support black-owned businesses. So the Philadelphia African American Chamber of Commerce is launching Reverse 90, urging African American consumers and others to be more conscious of where their money is going.

Read the rest of the article here.

Biased public policies, discrimination quadrupled wealth gap since 1980s

2010-05-17T06:32:00.000-07:00

Image by Tracy O via Flickr

A new study finds that the racial wealth gap is now four times as wide as it was in the 1980s. The study, which was conducted by the Institute on Assets and Social Policy (IASP), focused on the wealth gap between White and African-American families from 1984-2007. It also found that middle-income white families even hold more wealth than high-income African-American families.

via Physorg.com:

IASP, in a research brief, also reported that many African Americans hold more debt than assets and at least 25 percent of African-American families had no assets to turn to in times of economic hardship. The fourfold increase in the wealth gap, it said, reflects public policies, such as tax cuts on investment income and inheritances, which benefit the wealthiest and persistent discrimination in housing, credit and labor markets.

"Our study shows a broken chain of achievement. Even when African Americans do everything right -- get an education and work hard at well-paying jobs -- they cannot achieve the wealth of their white peers in the workforce, and that translates into very different life chances," said Thomas Shapiro, IASP director and co-author of the research brief.

Read the rest of the article here.

Could recess appointment boost labor efforts?

2010-03-29T05:20:00.000-07:00

The Obama Administration recently announced that the President will make a recess appointment for the National Labor Relations Board. The President plans to name labor attorney, Craig Becker, to the Board prompting partisan reaction from Republican lawmakers. The question going forward is whether this appointment will boost labor efforts on matters making it easier to unionize.

via Bloomber BusinessWeek:

by Holly Rosenkrantz

The appointments “signal a long-overdue shift whereby workers, and not just bosses, will receive equal consideration in crucial matters such as labor disputes and elections,” Randi Weingarten, president of the Washington-based American Federation of Teachers, said in a statement.

The National Labor Relations Board, created in 1935 to remedy unfair labor practices and certify union elections, has had three vacancies since 2008. With one Democrat and one Republican, the board has been unable to act on divisive issues such as the scope of recruiting after U.S. union membership fell to a record low 7.2 percent of private-sector employers in 2009.

“The business community should be on red alert for radical changes that could significantly impair the ability of America’s job creators to compete,” Randel Johnson, vice president of labor issues at the Washington-based Chamber of Commerce, the nation’s largest business group, said March 27 in a statement.

Read the rest of the article here.

Democrats to Obama: Focus on economy in State of the Union Address

2010-01-24T05:33:00.000-08:00

The act of balancing economic woes with the current health care reform legislation can be a tricky task. And some Democrats think the President should begin to shift more attention to jobs and the economy to start off the new year. The perfect place to do it? Next week's State of the Union Address.

via The Hill:

by Walter Alakon and Ian Swanson

Jobs and the economy “should be 50 percent of his speech,” said Rep. Paul Kanjorski (D-Pa.). He said constituents for months have been asking him why Congress is not more focused on the economy and less focused on healthcare.

“I think he ought to use his exceptional eloquence and thinking to stabilize the populace,” said Kanjorski. “He’s got to be the cheerleader in chief, while providing recognition that this is a serious problem.”

Read the rest of the article here.

Federal Reserve Chairman Bernanke faces Democratic opposition

2010-01-24T05:00:00.000-08:00

Several Democrats have stepped forward to express their opposition to another term for Fed. Reserve Chairman, Ben. S. Bernanke. For some, it's a matter of breaking away from a mindset that is blamed for causing the financial collapse of 2008.

Citing the need for stability in the financial markets, other Democrats such as Evan Bayh (D-In), have said Bernanke should be reconfirmed. However, at least one Democratic Senator feels now is an opportunity to break away from the past to chart a new way going forward.

via the Los Angeles Times:

by Janet Hook and Jim Puzzanghera

At least four Senate Democrats have said they will oppose President Obama's decision to renominate the Fed chairman. Critics of Bernanke, who was named to his first term by former President George W. Bush, are pressing the case that he was an architect of policies that helped drag the U.S. into a period of recession and high unemployment. His term expires Jan. 31.

"It is time for a change," Sen. Barbara Boxer (D-Calif.) said Friday, hours after Sen. Russell D. Feingold (D-Wis.) announced his opposition to Bernanke. "It is time for Main Street to have a champion at the Fed. . . . Our next Federal Reserve chairman must represent a clean break from the failed policies of the past."

Feel free to read the rest of the article here.

Black buying power to reach $1 Trillion

2010-01-20T10:56:00.000-08:00

A new report estimates that African-American buying power will reach $1 trillion in 2010. And if that number seems surprising, consider the fact that all of this buying power comes despite current economic woes where African-Americans are among the worst hit.

via AjaxWorld Magazine:

by Marketwire

With a population of 40 million and buying power approaching $1 trillion in 2010, African Americans are a key segment in an economy that increasingly depends upon the needs and preferences of multicultural consumers, according to "The African American Market in the U.S., 8th Edition" by leading market research publisher Packaged Facts.

"With such financial clout, marketing efforts to reach out to African Americans are likely to increase," says Don Montuori, publisher of Packaged Facts. "Major consumer products marketers have begun to align their strategies with the multicultural majority emerging in the U.S. and some have even indicated that multicultural consumers have become their core focus as they strategize and set their sights on the next ten years."

Survey suggests rebound in executive hiring and support positions

2009-12-30T01:57:00.000-08:00

Increased financial stability for corporate business might finally begin to reap employment opportunities if a recent survey by ExecuNet proves accurate. According to the survey, company's that are on the mend are beginning to seek additional staffing to increase growth opportunities. This could mean an expansion in executive-level hiring in the near future and increased opportunities for support staff further down the road.

via The Wall Street Journal:

by Sarah E. Needleman

Slightly more than half of 153 recruiters surveyed earlier this month said they expect a 19% rise in executive-search assignments during the first half of 2010, reports ExecuNet, a networking organization for recruiters and executives. That's the largest percentage increase since early 2008.

What's more, 21% of respondents said they're planning to add recruiting staff to support the anticipated growth.

Some 54% of recruiters also said they were confident the executive employment market—including assistant vice presidents, CEO and other executive team members, and board members—will improve in the next six months. That was up from 50% in November.

You can read the rest of the article here.

President Obama's Weekly Address (12/12/09)

2009-12-12T02:39:00.001-08:00

In this week's Address, President Obama focused his attention on the need to pass financial regulations in the wake of political and business shortcomings from Washington and Wall Street. Urging swift legislative action, the President decried Republican opposition and congressional enablers who pose a threat to financial reform:

"Just this week, Republican leaders in the House summoned more than a hundred key lobbyists for the financial industry to a pep rally and urged them to redouble their efforts to block meaningful financial reform."