MONEY MATTERS: Although the Affordable Care Act does not require companies to provide employee health insurance, business owners may want to pay special attention to the law's tax implications.
Large employers that do not offer workers a minimum level of essential health coverage could be hit with costly penalties. Meanwhile, financial incentives may be available to certain small employers that choose to provide employee health coverage.
For many businesses, the presence of certain staffing thresholds may also influence hiring decisions.
ON OUR WAY TO WEALTHY: While other cities may have surpassed Memphis as far as their music business infrastructure, Memphis has not given up the fight. As African-American Music Appreciation Month (AAMAM) dawns, three organizations in the city are putting forth every effort to give Memphis artists and musicians a fighting chance in the industry.
The Memphis & Shelby County Music Commission, the Memphis Music Foundation and the Consortium Memphis Music Town are all aggressively supporting Memphis talent. As part of our celebration of AAMAM, we'll profile all three, beginning this week with the Memphis & Shelby County Music Commission (MSCMC).
According to its website (www.Memphismusic.org), the Music Commission preserves, fosters and promotes Memphis music locally, nationally and throughout the world. That involves education, networking, advocacy and professional and industry development.
NEW YORK – On July 1, the interest rates on student loans subsidized by Uncle Sam will most likely double to 6.8 percent.
Congress and the White House agree that something should be done, but they don't agree on what. The Republican-controlled House passed a bill that would stop the rates from doubling now but allow them to rise later. Obama vowed to veto it. On Friday, Sen. Harry Reid said the Senate would vote next week to extend the current rate for two more years.
If this sounds familiar, it is. Last year, facing a July 1 deadline, Congress put off any tough decisions and kept rates the same. In a press event Friday, President Obama blamed Congress for another round of interest rate roulette.
NEW YORK – While the average African American is feeling more financially secure, many still feel neglected by the financial industry, new research shows.
Half of African Americans say their financial situations have improved from a year ago, compared to 33 percent of the general population, according to a Prudential report released Tuesday. The survey polled 1,153 people who identified as African American or black and a general sampling of 471 Americans.
African Americans are also significantly more confident about making financial decisions. Nevertheless, they get 13 percent less contact from financial advisers, and only 26 percent of respondents feel that a financial firm has "effectively engaged and shown support for the African American community." As a result, only 19 percent have financial advisers, compared to 30 percent of the overall population.
What are 13 of the most common words that keep companies from realizing their full performance potential? (Hint: They are 13 words that are very difficult to argue with.)
Those words are: "Hey, our goal is simply to put the best person in the job." Can't argue with that, can you? Who can be against putting the best person in the job??
A new report from the Nielsen company suggests that with increases in income and education, African-American consumer buying power is projected to grow by $100 million in just two years. By 2015, African-American buying power is estimated to be $1.1 billion.
According to the Nielsen study, "African-American Consumers: Still Vital, Still Growing," the African-American population's growth outpaces the rest of the population by 30 percent. The demographic is also increasingly younger, more educated and has higher incomes than commonly believed. Between 2000 and 2009, the number of African Americans attending some college or earning degrees has grown to 45 percent of men and 54 percent of women.
This summer, Successful Single Moms Memphis, Inc. plans to take another step in its mission of "advocating for fair wages, opportunities to return to school, homeownership and entrepreneurship" for single moms.
Single Moms University (SMU) – in concert with its collaborative partners – will provide an avenue for their single moms to participate in classes designed to foster continuing education opportunities.
"We are excited to announce our Mogul Mom™ Business Bootcamp as the first set of classes under our Single Moms University," said Nicole Gates, director of Successful Single Moms Memphis, Inc. "(This) is a collaboration of the Home Based Business Chamber of Commerce (HBBCC), National College of Business and Successful Single Moms Memphis. Completion of the training sets the women up to become Mogul Mom™ Certified business enterprises."