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Minimum wage jobs on the decline

Minimum wage jobs on the decline

The number of people working jobs that paid the federal minimum wage dropped last year, according to new labor statistics published Wednesday (Feb. 27).

An estimated 3.6 million people were paid hourly rates at or below the federal minimum in 2012, down from 3.8 million a year earlier.

Just under 60 percent of all U.S. workers are paid hourly, according to the U.S. Bureau of Labor Statistics. An estimated 4.7 percent of those hourly workers make minimum wage or less, down from 5.2 percent, a year earlier. That share is the lowest since 2008.

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  • Written by Tami Luhby/CNNMoney

New chair of Automobile Dealers Assoc. blazes trails

New chair of Automobile Dealers Assoc. blazes trails

Combine the name Jenell Ross with the Mercedes-Benz label and Ross' ethnicity and you have an unfolding African-American history story.

The American International Automobile Dealers Association recently announced that Ross – a Centerville, Ohio, dealer – is its 2013 chairwoman. She took over the position during AIADA's 43rd Annual Meeting and Luncheon earlier this month in Orlando, Fla.

Ross is the president of Bob Ross Automotive, which operates Buick, GMC, Fiat, and Mercedes-Benz franchises in the Dayton, Ohio, area. She inherited the role from her father and mother, who founded the dealership group in 1974. Mercedes-Benz of Centerville was the first Mercedes-Benz dealership to be owned by an African American and is currently the only one owned by an African-American woman.

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Entrepreneurship Expo creates buzz at U of M’s FedEx Institute

Entrepreneurship Expo creates buzz at U of M’s FedEx Institute

The Entrepreneurship Expo hosted by the University of Memphis' Center for Entrepreneurship and Innovation was the place to be for those with an incubating idea.

The session Tuesday at the FedEx Institute of Technology drew 300-plus attendees. Throughout the day there was a steady flow of entrepreneur-minded individuals, including a mix of successful startups, emerging businesses, inventions ready to be patented, and some undeveloped business ideas and concepts. The Entrepreneur Village featured 23 of the Center for Entrepreneurship and Innovation's (CEI) start-up clients.

Project manager Kelly Penwell came to Memphis in 2011 to manage the division. She hit the ground running and has assisted over 200 clients with their start-up efforts. Thirty-two businesses have been launched since CEI's opening in September 2011.

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  • Written by Dorothy Bracy Alston

Colleges find a new way to get grads hired

Colleges find a new way to get grads hired

NEW YORK – A handful of colleges think they've found the secret to closing the gap between the types of graduates they're turning out and the types of workers employers are looking for: spiders.

Not the hairy, creepy kind, but rather artificial-intelligence spiders that crawl through search engines and read thousands of online "help wanted" ads to check on the job market in real time – instead of two years after the fact, which is how long the federal government can take to report on labor trends.

The technology is helping colleges and universities quickly add and update academic programs so their graduates can land real-world jobs. And, at the same time, eliminate programs that leave students in debt with skills employers don't want.

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  • Written by Jon Marcus/CNNMoney

‘The Wealth Choice: Success Secrets of Black Millionaires’

‘The Wealth Choice: Success Secrets of Black Millionaires’

What's the key to becoming a millionaire for an African-American? That's the basic question posed by Dr. Dennis Kimbro to a thousand of the most affluent blacks in the United States in a study conducted over the last seven years. The results are reflect in 'The Wealth Choice Success Secrets of Black Millionaires.'

Among the icons graciously participating in the survey were entertainment industry tycoon Tyler Perry, Godfather's Pizza CEO-turned-presidential hopeful Herman "9-9-9" Cain, FUBU fashion line creator/Shark Tank co-host Daymond John, BET founder Bob Johnson, Renaissance man Steve Harvey, televangelist Bishop T.D. Jakes, TV-One CEO Cathy Hughes, film director Spike Lee, motivational speaker Les Brown, mutual fund manager John Rogers and entrepreneur Farrah Gray, who became a self-made millionaire by the age of fourteen.

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Dressed to impress

Dressed to impress

The look of a sharp-dressed gentleman means he is about business. Couple that polished appearance with knowledge, opportunity and execution and you have success.

Reginald French, Stephon Coleman and Thomas Nolan – local businessmen and fraternity brothers – consistently present that dressed-to-impress look.

French is a technology firm owner, recipient of the 2012 Kappa Man of the Year award, and a philanthropist who has worked diligently with Kappa Alpha Psi and St. Jude on Sunday of Hope. Coleman is an executive with FedEx. Nolan is an artist, firefighter, and most notably a culinary artist.

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Where the rich people live

Where the rich people live

Despite all the talk of urban revitalization, suburbs still have a denser concentration of rich people than cities.

In America's suburbs, just over 6 percent of the households have incomes that put them in the top sliver of American earners, according to a study released Monday by the U.S. Census Bureau. In city centers, less than 5 percent of households made the cut.

Not surprisingly, the study found that rich people tend to live near major population centers.

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  • Written by Steve Hargreaves/CNNMoney

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