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"Champions aren't made in gyms. Champions are made from something
they have deep inside them - a desire, a dream, a vision.

Motivator, Jewel Diamond Taylor




November 5 , 2001
---Brookings Report finds that Black homeowners are hurt most by neighborhood segregation---The Brookings Institution Center on Urban and Metropolitan Policy released, "The 'Segregation Tax': What Racial Segregation Costs Black Homeowners," a report which examines homeownership as a wealth creation tool for different ethnic and racial groups in the nation's 100 largest metropolitan areas. The report, written by David Rusk, former mayor of Albuquerque and author of several books on regionalism, finds that after equalizing for income, Black homeowners had substantially less value in their homes than white homeowners. Home value and equity are the typical American family's most important financial asset, and often the only vehicle for passing wealth to children and grandchildren. In recent years, federal policies have focused on increasing the percentage of Americans who own homes - particularly minorities, since their homeownership rates have lagged behind those of whites. While homeownership has increased for all racial groups, it is not clear whether homeownership has increased the assets of all minorities equally. The report's key findings are: (1) Home values for Black homeowners were 18 percent less than values for White homeowners. For every dollar of income, White homeowners owned $2.64 worth of house. By contrast, Black homeowners owned only $2.16 worth of house. (2) Both Black and White homeowners were hurt by high levels of racial segregation. For example, a closer examination of Philadelphia census tracts reveals large drops in the ratio of home value-to-income for all homeowners as the percentage of minority residents increased. According to Rusk, as more and more White homebuyers shunned increasingly Black neighborhoods, demand for housing and price competition were reduced in those neighborhoods, home values were depressed, and the "segregation tax" grew.

--- National Better Investing Congress & Expo encourages millionaires-in-the-making--- "Do not be afraid to become a millionaire" and "Do not be afraid to take risks and everyone can be a millionaire-in-the-making," said Kelvin E. Boston, financial commentator, author and entrepreneur, during the National Association of Investors Corp.'s (NAIC) annual Congress and Better Investing Expo, held here Oct. 24 - 28. Boston made his remarks during a dinner meeting of more than 1,000 NAIC members and supporters gathered for the Congress. As NAIC celebrated half a century of providing investment education to people throughout America, Boston rallied NAIC's members to continue to be proactive in securing their economic futures and to encourage others to do the same. "NAIC helps people see that they have the financial wherewithal and human capacity to become a millionaire," said Boston. "Too many Americans don't understand that in today's economy, it is fear, not financial resources that are keeping them from being a millionaire-in-the-making."

---Citizens Trust Adds Fire Power to Loan Administration with Sparks---Citizens Trust Bank has recently heated up the talent pool with the skill and financial expertise of Ronnie Sparks. Ronnie joined Citizens Trust Bank to serve as the new Manager of Loan Operations. Formerly a bank examiner for Federal Reserve Bank of Atlanta (FRBA), Sparks brings a wealth of knowledge and experience to Citizens Trust

---National Urban League and technology---
The National Urban League announced that it has received a Technology Leadership Grant of more than $2.7 million in software from Microsoft Corp. Microsoft's Technology Leadership Grant program provides major software donations to national nonprofit organizations to enhance delivery of services to constituents, organizational efficiency and communications. For additional information, or to apply for a Microsoft Technology Leadership Grant, call 425-706-8185. The deadline for 2002 applications is Jan. 21, 2002.

---Carver Federal Savings Bank opens new branch in Harlem---
Carver Bancorp, Inc., the holding company for Carver Federal Savings Bank, has opened its new, full service, state-of-the-art branch in Harlem on Malcolm X Boulevard at 117th Street. Deborah C. Wright, President and Chief Executive Officer of Carver, said, "Carver's new Malcolm X Boulevard branch is our first in eleven years, marking an important milestone in Carver's growth strategy as we position the Bank to best serve the growing financial needs of the African- and Caribbean-American communities in New York." The new Carver branch was designed to celebrate Carver's history and the African diaspora by The Phillips Group, an internationally-recognized architectural firm, and by Jack Travis Architects, a leading African-American architectural firm specializing in African design.

---Pittsburgh African American Corporate Executives Hold First Career Symposium---A group of African American senior corporate executives announced the success of the region's first career symposium for African American corporate professionals and managers. The Corporate Symposium was designed to provide African American professionals an opportunity to participate in a well-structured developmental experience that will assist them in their career and professional growth. "Research has shown that success factors, career paths, and expectations of upward mobility differ for African American professionals," says Greg Spencer, senior vice president and chief administrative officer, Equitable Resources, Inc. "However, these issues are rarely addressed in a substantial way in management education courses. The African American Corporate Symposium attempts to bridge that gap" The African American Senior Corporate Executive Group is a group of twenty local senior officers who began meeting informally over the past year. Through discussions, they confirmed that they shared many of the same workplace issues and challenges.

---Turner Broadcasting's 10th ANNUAL TRUMPET AWARDS---
Sidney Poitier, Andrew Young, Cicely Tyson and Tom Joyner are among the honorees at Turner Broadcasting System, Inc.'s 10th ANNUAL TRUMPET AWARDS. The star-studded awards ceremony will be held at the Georgia World Congress Center on Monday, Jan. 7, at 6 p.m. and will air in a special presentation on TBS Superstation Saturday, Feb. 23, at 7 p.m.(ET)/8:30 p.m.(PT). Previous honorees, including Quincy Jones, Maya Angelou, Gladys Knight and Johnnie Cochran are expected to attend the event. The TRUMPET AWARDS, hosted this year by Richard Roundtree, Nancy Wilson and James Avery, honor African-American achievers in fields as diverse as law, politics and entertainment.
The Living Legend Award will go to actor Sidney Poitier. Winners of this year's Tower of Power Awards, which trumpet public service and civic leadership, include former Senator and U.S. Ambassador Carol Moseley Braun; Supervisor, Second District LA County Board of Supervisors Yvonne Brathwaite Burke; Rev. Dr. Jonnie Colemon, Founder-Minister Christ Universal Temple; Sylvia Flanagan, senior editor of Jet magazine; Spelman College President Dr. Audrey Forbes Manley; National Institutes of Health Dr. Vivan Pinn; Ernesta Procope, Wall Street broker and president and CEO of E.G. Bowman Co.; White House National Security Advisor Dr. Condoleezza Rice; and U.S. Congresswoman Maxine Waters.

---Amistad Arrives in Georgetown, S.C.----
Coastal Carolina University, located in Conway, S.C., announced the arrival of the Freedom Schooner Amistad to Georgetown Landing Marina, Georgetown, S.C., Saturday November 3 at approximately 2:00 pm for a two-week visit. It is the first time that this ship, a living symbol of universal freedom, will have visited the State. The Georgetown Host Committee and nine other multi-racial community committees have planned a series of events, lectures and exhibits exploring race relations, reconciliation and shared history. Throughout the two-week visit, students and visitors will be invited, free of charge, to participate in discussions and demonstrations of local culture, view exhibits of the Amistad and walk historic Georgetown, SC. Six thousand South Carolina school children are scheduled to visit the ship and its exhibits along with an estimated fifteen thousand other visitors. The visit of the Amistad is significant for South Carolina, a state that has struggled with reconciling its citizens to its history. The Africans that were illegally enslaved on the Amistad and successfully revolted were rice planters from the West African Mende tribe. Many South Carolina Low Country residents can trace their heritage to this tribe.




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