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Forbes Release World's Billionaire List, America Tops The Chart With Bill Gates Being #1

Posted On: March 03, 2015

Forbes released their annual World's Billionaire List. Despite the economy's inflation and recent drop in oil prices, the money keeps moving. Forbes list featured some newcomers, the youngest billionaire, and placed America on the top of their list.

Accodring to the Forbes' published world's list, the youths are on the rise in becoming billionaires, especially in tech inventions and businesses. Evan Spiegel who is the youngest on the list, acquired his fortune by being one of the creators of the photo-messaging app Snapchat. Forty six young billionaires are listed in the article.

Going around the world, Russia decline in billionaires by over 20% with reports of 88 billionaires, opposed to last year's documents of 111. Nigeria's business trade boss, Aliko Dangote lost of shares in some stocks, affected his fortune of $25 billion from last year.  Mexico's Carlos Slim Heru comes in at #2 again and newcomer from Guatemala, Mario Lopez Estrada puts his country on the list for the first time. Including Japan, Germany, Norway, Peru and the United Kingdom who crowned other newcomers to the billionaire list. Samsung's creator from South Korea made the list and Iceland's Thor Bjorgolfsson made a comeback since Forbes' 2009 list.

America had several billionaires on the list and some who made the list for the first time. Facebook’s Mark Zuckerberg is climbing the list by five spots at number 16, Uber cofounders Travis Kalanick and Garrett Camp made the list and Elizabeth Holmes is listed as the youngest women billionaire. Warren Buffet took back the No.3 spot from Spain's Amancio Ortega, who made the list at No.4.

America came in number one on the list with Microsoft's Bill Gates.

Forbes named Bill Gates as the richest man and person on the planet. Bill Gates is the founder of Microsoft.

At the age of 13, Gates started to show interest in computer programming and linked with childhood friend, Paul Allen to launch what became the world's largest computer software business. Microsoft continues to dominate the market in computers, tablets, mobile phones and more. Bill Gates who grew up in a middle class home and knows what the value of a dollar is, gives back to the world through several charities, non-profit organizations and; philanthropy work.

Bill Gates charts the list with a networth of $79.2 billion.

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Morgan Stanley To Pay $2 Billion Dollars In Fines For Troubled Mortgages

Posted On: March 03, 2015

Morgan Stanley which is one of the top ten lenders for mortgages, has been in courts with the Department of Justice about high interest and faulty loans. The loans are believed to have caused the financial crisis within the nation.

Based on court records, the Department of Justice has reached a settlement deal with Morgan Stanley, who has to pay $2 billion dollars in fines. The Department of Justice led an investigation into Morgan Stanley and other mortgage companies such as: Bank of America, Citi and JPMorgan, for faulty, high interest loans. The loans caused borrowers' loans to go into default, their houses were seized and some had to file for bankruptcy.

According to a published article by DealBook, Bank of America agreed to pay $16.7 in fines, Citigroup agreed to pay $7 billion in damages, and JP Morgan reached a deal of $13 billion.

DealBook also documented that Morgan Stanley was responsible for a smaller volume of securities backed by troubled mortgages. A 2012 lawsuit filed by the American Civil Liberties Union provided emails and documents that showed Morgan Stanley executives knew about the low quality of loans when it purchased them.

Upon reaching the Morgan Stanley settlement, there is only one big bank holding out on a deal with the Dept. of Justice. Goldman Sachs, is in preliminary talks with regulators, although they have yet to reach an agreement in resolving its sale of troubled mortgages.

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UCLA Inks Historic NCAA Deal With Under Armour For $280 Million Dollars

Posted On: May 28, 2016

As their Adidas contract comes to a close next year, UCLA found themselves into a much massive and properous deal. Since signing a deal with Stephen Curry, Under Armour continues to make chess moves in business and presented UCLA with a deal on the table that they couldn't refuse. 

Referencing article from L.A. Times, the constituents of the deal is worth $280 million dollars and spans for fifteen years. 

 "We knew that we were well-positioned to cut a deal," revealed Dan Guerrero, the UCLA athletic director. "Under Armour came at us hard."

I'm sure they did, pen, paper, money sign and everything! Under Armour was like, "sign right here by the X." 

Anyhow, 

The Under Armour and UCLA deal made NCAA history when they shook hands on the deal, as the largest apparel and shoe contract. The cash out for UCLA will be $15 million and a yearly payout of $11 million during the course of the contract. The deal comes with some perks because Under Armour will provide UCLA with equipment, apparel, and shoes yearly; including supplies to enhance their facilities for eight years. The total of those expenses are worth $9.4 million dollars. 

Although the deal has already been signed, the Under Armour and UCLA business affiliation goes into effect next year in 2017. It's unsure if negotiations are still on the table and if terms are still being met, none of that has been disclosed yet. Most likely not because the deal has already been inked.

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Article Reference: L.A. Times

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Sibongile Sambo Opens Africa's First Woman Aviation Company

Posted On: March 06, 2016

After being denied a flight attendant job because of her height, Sibongile Sambo took matter into her hands and decided to open her own business. Sibongile Sambo did more than become an enttreprenuer, she set the standard and made history by opening Africa's first woman (female) avaition company. 

For Sibongile, it's more than running or managing a business, it's a passion for her to get more women into aviation and to become female pilots. As the founder and CEO of SRS Aviation, an all female aviation company, Sambo is able to provide a resource and outlet to nuture her passion. It was not easy breaking into the male dominated industry, Sibongile Sambo had to learn the language of aviation and find the right investments to fund her vision. 

After being commisisioned for her first flight back in 2004 for the South African government, Sambo has grown and expanded her SRS Aviation company by providing luxury and tourist flights across the globe, personal helicopters and more. 

"It could be a tourist charter for $1,000 or could be a head of state traveling on a VIP aircraft to the United States, which could be about $200,000."

With learning, Sibongile Sambo not only grew her business but also grew in skills and knowledge about avaition. She was able to assist and help three women obtain their private pilot licenses and are now employed full time. Her company, SRS Avaition has an Air Operating Certificate from the South African Civil Aviation Authority (CAA) that allows Sibongile to operate commercial flying activities and conduct piloting classes. 

SRS Avaition managed to link and has a partnership with MCC Aviation, one of the leading and prominent avaition businesses in South Africa. The deal provides accessible fleet of aircraft, operational and technical support. 

Last year in 2015, Ethiopia Airlines ran and dispatched its first all women crew flight and Siza Mzimela became the first Black woman to open a commercial airline. Sibongile Sambo is optimistic that more women will continue to go into avaitation and airline businesses, become founders and even investors in them. She also expressed, a rise in more women pilots and flight crews. 

"What I’m proud of about our company is that we have managed to penetrate the male dominated industry," Sambo revealed. "Aviation is growing in Africa. We are going to grow with the growth in Africa."

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Dame Dash and Kanye West Make Big Body Moves To Buy Karma Loop

Posted On: March 26, 2015

Earlier in the week, there's been some talks about Dame Dash and Kanye West buying out Karma Loop. Well, today (March 26, 2015) Dame Dash put all the chatty patties to rest and confirmed that he and Kanye West were making big body moves and taking over.

The former Roc A Fella boss, who is seen still reppin' for his home team, uploaded a video revealing his new business ventures with Kanye West. The both of them are linking powers together to buy out Karma Loop. In the video, Dame calls it a new beginning of unity through culture, honorable people sticking together to create a new industry and change the world.

Check out the footage below.

In the second clip, Dame basically confirms that him and Ye discussed the option of buying Karma Loop and made a decision to finalize the business sale of it. In the video, Kanye looks nonchalant, like he's in another world. This is a good look for Dame and Kanye. Dame seems like he has several good ideas and great ideas. He's a wise man, that most likely learned a lot not just from books but from life experiences, gained knowledge on his own and observation.

Check out the second footage below.

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From Nickle, Dime Bag Hustles to Billion Dollar Mary Jane Kingpins

Posted On: May 24, 2016

Cannabis is a plant, it can even be characterized as an herb but anyhow, due to its hemp properties, it's a very productive natural resource. Marijuana is illegal in certain parts of the country and legal in others parts. Marijuana has always been a business despite of it being illegal in the whole nation at one point. It is a "enriched" natural resource like gold, oil and diamonds; which makes it very easy when it comes to generating wealth.

The marijuana business is projected to accumulate an average of $45 billions in revenues by 2020 and many have already began investing in it to get a piece of that multi-billion dollar pie. From nickel, dime bag hustlers to musicians, actors, blue collar business men and others; who are transforming themselves into billion dollar Mary Jane kingpins, and even queenpins too. 

Starting with kingpin, Snoop Dogg who invested and collaborated with Ted Chung to launch his own marijuana infused company called, "Merry Jane." Well, we already know Snoop D.O.Double G is the Godfather to cannabis and many other things, created Merry Jane as a resource when it comes to marijuana which provides products such as: food, chocolate, candy and also, services such as: news pertaining to marijuana, fashion inspired by cannabis and etc. Snoop also launched his own brand of cannabis called Leafs by Snoop.

Snoop's Merry Jane took the culture of Hip Hop and cannabis which was already an item and part of music culture, to create a business off it. Snoop being a very wise businessman also, brought style to the table and the fashion sense of being high is to stay fly. 

Next up is Wiz Khalifa, who keeps it real and trill when it comes to Mary Jane. Earlier this year in February, it was reported that Khalifa linked up with RiverRock Cannabis from Colorado to manufacture his own strain of cannabis and also, brand his name with anything pertaining to marijuana. This would include food, cologne and etc.

He began promoting his line of cannabis called Khalifa Kush and if you remember, it made Kanye feel some type of way when he saw Wiz tweeting "KK." And thought it was about his boo boo Kim Kardashian, that little misunderstanding transpired into a beef Ye was ready to serve without knowing if it was seasoned or not. Thank God it simmered down, after a couple of gas faces from both of them, Wiz Khalifa went about conducting business as usual.

Since then, Wiz proceeded with executing his blueprint for his cannabis empire and released Khalifa Kush on mary jane day last month in Colorado. Wiz Khalifa and RiverRock Cannabis are in the process of developing other products to market and sell to the public. 

Also from the West Side of Cali is, The Game who became a ganja entrepreneur and went into the blunt business himself. The Game took a different route with his masterplan and launched a cannabis infused beverage called G Drinks last month. Teaming up with G Farma Brands, The Game's G Drinks are lemonade beverages infused with the company's Liquid Gold cannabis and come in three different flavors: original, strawberry and pink. Along with the G Drinks, Game created his own brand of joints called G Sticks that are rolled up and ready for consumers to blaze. 

Whoopi Goldberg who so far is the only woman from the entertaintment business to become a queenpin and bank some green off that green. Whoopi invested into a cannabis infused botanical company that caters to women (which is a great move with all the yoga and meditation companies). Goldberg is a rebel who breaks the rules and gets high on her own supply, just like Snoop, Khalifa and Game. 

Whoopi's cannabis company called "Whoopi & Maya" was financed and consist of family and friends, where Whoopi is the chairman, basically CEO. Her marijuana manufactured products are aimed at alleviating the pain and discomfort women endure during their menstrual cycles. Whoopi & Maya's products consist of: bath soaks, balms, tinctures and hot chocolate. The marketing of the Whoopi & Maya products involve calming words such as: relax and savor that coincides with the natural effects of cannabis. 

Whoopi revealed she sips on marijuana infused tea, there are no reports if she will invest in her brand of teas as of yet but who knows, anything is possible at this point. 

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RadioShack Closing Half Its Stores, Selling The Rest To Sprint

Posted On: February 04, 2015

RadioShack knows all about longevity in business, with 94 years of bringing the latest tech devices to customers. Business news reports, confirmed RadioShack will be going bankrupt soon and closing half of its stores.

RadioShack has already began filling for bankruptcy and the legal documents state, whatever stores remain open, they will sell it to wireless mobile giant, Sprint. There's also a possibilty that RadioShack could merge with Sprint or be acquired by another company.

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How To Monetize From Being An Independent Artist

Posted On: February 03, 2015

The matrix better known as the Internet, has provided a platform for independent artists to branch out and expand, from using the word of mouth classic ways of growing a business. The artist, whatever their creative field might be such as: music, seamstress and fashion design, writing and publishing, stylist, product conveyor and so on. Nowadays, because of the matrix, there are several alternatives in promoting and marketing a business.

Social media is a big podium for anybody to get their creativity and art out there. Many companies and individual marketers offer Twitter and other promotional packages to help any business launch into a wider scale.

There are several resources on the Net that provide different avenues, for online promotion and marketing. Just like with any business, an independent artist should find ways to monetize off their creativity and art. The key is to get a return on the investments made from: studio time, distribution of mixtapes, paying for services to premier a video on, for example: WSHH, traveling costs and etc. If done right, doors will open leading to contracts from record labels, maybe opening up for a big name star, developing jingles for commercials and etc. it all depends on the aim and where an individual wants to launch.

For music, there are many different streaming services that makes it easier for fans to download and interact with their favorite musician's song.

We've compiled a list of a few online resources relating to music, where an independent artist can cash in and monetize on the business dealings of their art.

Starting with YouTube.

YouTube is a great avenue for music promotion and marketing, with an estimaded 17 billion views per month, YouTube can potentially connect any business globally. With monetizing options which offer ad and views revenue. YouTube takes a percentage of the dollars that's earned, generating 55% an earning for the recipient.

The second online resource is, MUZU.


The music services of MUZU is a video site, that offer monetizing with ad revenues only. The recipient earns 50% off their views. An account is needed to join MUZU, which also helps any independent artists, with acquiring a bigger fanbase.

And the third online resource, is MySpace.

MySpace is the godfather of social media, which was a social network that paved the way for Facebook, Tumblr, and other popular social media websites.

MySpace now offer an on demand music streaming services, where an independent artist can earn money off every plug streamed from their music. The return is the lowest out of the three, with 40% earned from the streams, MySpace is still a good connection for independent artists to earn money. And also, MySpace is a platform, providing promotion and assistance with an independent artist marketing themselves.

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How To Invest and Become A Marijuana Boss, Legally

Posted On: November 10, 2015

Business analyst are very confident that Nick Lachey (remember him, Jessica Simpson's ex-boo, yeah him) is set to bank a few billions in marijuana sales. The dude is a "legal" drug kingpin who owns a 29-acre weed farm in Akron, Ohio and once he hits the market with the production and distribution of his own brand of marijuana, Lachey is set to bank a billion dollars every year.

The other side of it was, Ohio decided not to legalise marijuana but Nick Lachey is not giving up and still remains in Ohio with his marijuana farm, tweeting:

"While I may not agree, the people of Ohio have spoken and that’s the way it’s supposed to work. Change takes time."

Although Ohio did not legalise marijuana, at least not yet, guess who is pushing for marijuana legalization across the nation?! Mostly business men who want to invest, Wall Street brokers, equity bankers, and etc. who know how much billions and even trillions to be made; not just in business and sales of marijuana but in stocks! The irony of many African-American men going to jail and even prison over selling marijuana and now, they are pushing for it to become legal, because of the potential in making billions and trillions of dollars in US markets.

Things that make you go hmmm...

According to Viridian Capital & Research, investing in marijuana stock will become the perfect place to raise capital for any businesses. This would also include its branding, sales, farms, distribution, marketing; and as well as advertising. Marijuana already has its own spot in stocks according to Viridian Capital & Research, the cannabis sector (yes, it already has its own sector) stocks are high flying, posting gains of over 17 percent in the second quarter. This is what's going on behind the scenes right now, with the knowledge that the legalization of marijuana will expand state to state. 

As with all investment in stocks, there are some precautions to take. Scott Grieper,  president and founding partner of Viridian Capital & Research offers reasonalbe advice:

“When it comes to investing in marijuana companies, many of the same rules should be applied to investment decisions about any company.”

In an interview with Black Enterprise, Scott Grieper noted before buying into any marijuana stock, it is wise to research on their management and the productivity of their business.

"Great management is still the key to success in the business world. You can have a great idea, but without proper leadership things are going to fall flat. In the marijuana business, you may find people who know how to grow some plants, but they don’t know anything about marketing, sales, government regulations, and the like."

Grieper also expressed, to examine their products as far as sales, how it is promoted and marketed to their consumers; and if it's the best product on the market.

Scott Grieper stated the marijuana business and stock investment are new to the US, but it has been a global business for years.

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Boss Don Billionaire, Robert F. Smith Pledges $50 Million to Cornell Engineering School

Posted On: February 09, 2016

When it comes to making moves like a don, Robert F. Smith pedals like a brinks truck in financial affairs and business investments. Smith made history in 2015 when he became the wealthiest Black men in America with $2.5 billion in assets and joined the list of other Black billionaires across the world, with Aliko Dangote being the kings of all kings in assets of $15.7 billion.

Robert F. Smith begin his billionaire journey when he made an investment towards his education and acquired knowledge in computer science. Confidence being a key for him, led to Smith's ability to open doors of resources and network in founding his own corporation when Smith went into capital investments, and became the CEO and chairman of Vista Equity Partners. Smith's company manage to generate $14 billion in cumulative assets of capital investments and is one of the most successful investment corporations in the world.

In addition to all of his success, Robert F. Smith is gracious in being a philanthropist and recently pledged $50 million to Cornell University’s School Of Engineering. A school that smith attended, earned a degree in chemical engineering in 1985 and is an alma mater. Reciprocating Smith's philanthropic funding, the school is honoring him by changing their name to Robert Frederick Smith School of Chemical and Biomolecular Engineering at Cornell. 

During a press conference, Lance Collins who is the Joseph Silbert Dean of Cornell Engineering made the following statements in expressing gratitude for Smith's pledge.

"Robert’s generosity will not only elevate our School of Chemical and Biomolecular Engineering, but it will ensure it becomes more accessible than ever."

"I believe an affordable educational path from engineering in Ithaca to Cornell Tech in New York City, for those who wouldn’t otherwise be offered such an opportunity, will produce some of the sharpest minds in engineering and technology. I’m thankful Robert shares this vision and is making it a reality."

Robert F. Smith's pledge will also fund the Robert Frederick Smith Tech Scholars Program and foster financial aid for mostly Black students to further their education.

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FTC Files Lawsuit Against Payday Loan Debt Relief Operations & Programs

Posted On: March 01, 2015

We all heard of "payday loans" and seen all the commercials for them.

Payday loans are set up to help people who might need extra cash before their next payday. They are suppose to help people but instead it's a trap that leads people to more debt and sometimes, legal issues.

The Federal Trade Commission known as the acronym, FTC recently filed a major lawsuit against payday companies, also known as cash advance companies, and especially those who gave out several payday loans to unsuspecting customers.

According to the complaint, starting in 2012 Payday Support Center, LLC – also known as PSC Administrative, LLC – began using Internet, radio, and telemarketing to entice consumers into enrolling in their “financial hardship program” by claiming they could negotiate with lenders to reduce payments or eliminate debts.

Promotional advertisement for these payday loans included statements such as below,

“Are payday loans ruining your life? Do you have more payday loans than you’re able to pay back right now? If you have two or more payday cash advance loans, listen closely…”

“All you need is two or more payday loan cash advances to qualify. Even if you’re behind, in collections or have bad credit. We’ll even help you with your internet payday loans…”

During telemarketing calls, operators often told consumers they had been put through a “qualifications check” and were being allowed to participate in a special “financial hardship program.”

The FTC complaint describes the following as a typical telemarketing interaction from the company below:

 “Telemarketer: We make sure that they were licensed to do business and we get the loans settled and paid off for you.

“Caller: Okay. So, you guys pay my loans for me or do I pay these people?

“Telemarketer: Now, you’ll make your payments through our company. The funds that you provide by going through the program will go towards settling and paying off your loan[s] (sic).”

 

When consumers enrolled in the program, the company would advise them to stop making direct payments to their lenders, and instead make payments through the debt relief company.

According to the FTC, consumers were then promised that their debt would be paid off within six months if they made bi-monthly payments between $98 and $160. In some cases, the company charged consumers an additional fee of $38 for their services. The companies also told consumers they could negotiate their interest free payment on the loans but in reality, the company provided little or no help to the consumers. Who then accumalated massive debt from their payday loans.

Named defendants in the suit include: PSC Administrative, LLC, formerly known as Payday Support Center, LLC; Coastal Acquisitions, LLC, doing business as Infinity Client Solutions; Jared Irby, individually and as an officer of PSC Administrative, LLC; and Richard Hughes, individually and as an officer of PSC Administrative, LLC.

By filing the complaint, the FTC is planning on closing down the payday loans illegal conducts and also, retrieve refunds for all parties involved.

 

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