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CNN's financial website has listed the top five places to study if you want to be an entrepreneur. I have been an entrepreneur for a few years now, and I can tell you that it's not a place for those who are short-sighted or weak minded. You don't always know where your next month's pay is coming from, and you have to be able to manage people. But the other side of it is that you get more freedom than you have from working at a job, and you also have a chance to make a lot of money if you do things the right way. The verdict for me is that I love running my own business.

The top program on the list was Babson College. Babson has tuition of $35,000 per year, and they ask students to run a real business. The student business is expected to turn up a profit in the first year. They also do a challenge similar to 'The Apprentice' show to see who the best entrepreneur is in the school.

Next on the list is Indiana University, with has an out of state tuition of $41,000. In-state tuition is $22,000. Students are expected to pitch their ideas to outside investors, which is important when trying to get funding for your business. The most difficult thing about being an entrepreneur is finding the money to finance your company. Most small businesses die from a lack of money, not a lack of profitability.

Continue reading What are the Top Schools for Entrepreneurship?

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I curiously watched the press conference held last week to celebrate the New Jersey Nets (well, not quite New Jersey anymore) stadium set to be built in Brooklyn. A group of investors, led by Bruce Ratner, were joined by many prominent New York public figures to celebrate the ground-breaking of one of the highest impact economic endeavors in the history of Brooklyn. Jay-Z is part of the group of investors who bought the Nets, so of course he attended the ceremony.

Continue reading Rapper Jay-Z Gets Major Criticism for Taking Homes to Build Stadium

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Black American wealth has dropped dramatically during the latest recession. The recent meeting between Rev. Al Sharpton, Marc Morial, Ben Jealous and Barack Obama underscored the urgency of dealing with the financial challenges currently being faced by African Americans. One of the critical areas in which black people are being hit hardest is home ownership. Many millions of Americans are now "upside down" in their mortgages, meaning that they owe more money than their home is worth. Yes, this can be financially devastating.

Continue reading Black Homeownership Problems: Many Upside Down Mortgages, Money Tight

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Black Barbies are being sold at certain Walmart stores for much less than white versions of the same doll. The New York Daily News Reports:

Photos on Guanabee.com (first shown on a site called Funny Junk) show the Ballerina Theresa Barbie doll, who is black, and the Ballerina Barbie doll, who is white, hanging side by side in a store. Price of the black Barbie: $3.00. Price of the white Barbie: $5.93.

The photo was reportedly taken at a Walmart in Louisiana, according to Guanabee.com.

Walmart told ABC News that the chain needed to clear space for new seasonal products and thus marked down the prices of many items.

While that is an interesting argument, Walmart is a company that is hardly well-known for a simplistic reasoning behind its operations. Usually Walmart deals with everything -- from people to produce -- with the hardest, coldest business eye imaginable. It has deep reasons for all of its actions. But it's not politically correct to say on the record that a black doll is just worth less. That would be too similar to stating that black females are worthless. Walmart may have decided to cut the prices of black Barbie dolls "to clear shelf space," but at what cost to black girls' self-esteem? This video shows how preferences over a doll's color says a lot about the low self-esteem of black children.


Find more videos like this on National African American Congress Forum


Walmart is promoting the belief, which is created by society at large, that black is "less than" white. Is that horrible effect worth "clearing the shelves"? Not to corporate executives who possess souls. If this story picks up steam, it could even further tarnish Walmart's public reputation for insensitivity -- which would be bad for business at the very least. But at least the concern over the bottom line might inspire this global behemoth to be aware of it's emotional impact on communities through its practices.

Continue reading Black Barbies Sold For Half the Price of White Barbies at Walmart

When actor Wesley Snipes and stand-up comedian Sinbad were accused of owing millions in overdue taxes, they became some of the most high-profile celebrities in recent years to run afoul of the Internal Revenue Service.

But Snipes and Sinbad are hardly alone. There is actually a long history of actors, singers, athletes, entertainers and celebrities of all kinds getting chased by the tax man.

Here is a list of some high-rollers currently making news for having major tax headaches – along with a few celebrities from the past who have also endured tax troubles.

Actor Red Foxx
His parents named him John Elroy Sanford, but most of us knew him by his stage name: Redd Foxx. He was also famous for playing the lead role in the 1970s hit sitcom "Sanford and Son." In his later life, though, Foxx battled the IRS and even saw his Las Vegas home, furniture and household belongings seized by IRS agents in 1989 because of unpaid debts. When Foxx died of a heart attack in 1991 he still owed the IRS, which had been after him for $755,000 in back taxes.

Singer Otis Williams
We all remember The Temptations, right? Well, Williams was the tenor who co-founded this famous Motown group. He's also the last surviving member of the original group. It's a shame that after 50-plus years of having his records heard all over the world, Williams presently owes the IRS an estimated $176,000.

Singer Martha Reeves
Here's another big name from the Motown era. Martha and the Vandellas certainly made a name for themselves back in the day, especially with the hit song "Nowhere to Run." Sadly, it looks like Reeves couldn't outrun her tax issues either. She was a Detroit City Councilwoman from 2005 to 2009. But that hasn't stopped her from currently being in tax debt to the tune of about $280,000.


Continue reading Celebrity Tax Troubles: Scandals & Stories of Famous Tax Evasion

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The CEO of Tennessee's Hospitality Association, Walt Baker, has joined the club of high-ranking public figures to hurl racial slurs at members of the first family. Hip Hop Wired has the full story:

It was reported by the Tennessean of Nashville that CEO Walt Baker's e-mail compared Obama to the sidekick of character Tarzan, Cheeta. The message features a picture of the first lady caught off guard with her lips pursed, accompanied by a chimp that has a similar expression on its face.

Since news broke, Baker has apologized for his actions.

How many of these figures would be up here apologizing if they weren't caught? There's no point in saying sorry for something that had its full intentions when the idea first came to mind.

On Saturday, he stated, through e-mail to Nashville Metro Council, that the message was not meant to be looked at as being something malicious, but was only trying to provide some type of "political humor."

Continue reading CEO Compares Michelle Obama to a Chimp in "Political Humor" Email

By winning the Oscar for Best Supporting Actress, Mo'Nique's star power -- and her earning power -- just went up dramatically.

Any victory at the Academy Awards gives the winner some serious bragging rights, instant recognition and additional credibility. For some stars, however, winning an Oscar also translates into an enormous payday. And that's likely to to be the case for Monique -- particularly since she proved to Hollywood that she's more than just a funny, lovable comedian.

In fact, by taking a huge career risk and playing an unpopular character -- an abusive mother named Mary Jones in the emotionally gut-wrenching film 'Precious' -- Mo'Nique showed off some serious acting chops and set herself up to get more serious, and more lucrative job offers in the future.

Continue reading It's No Joke: Oscar Win May Help Mo'Nique Reap Millions

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