recession

Gregg Reese  |   OW Staff Writer
Nov 25 2010

Incarceration is on the menu for scores of area teenagers

Now that the holidays are upon us, efforts are in full swing to address the commercial aspect that is an intractable part of the season, underlining the hope that it may add ballast for the depressed economy that has become a staple over the past few years.

Marisol Aguilar  |   OW Contributor
Sep 23 2010

Minorities hard hit as usual

According to the Census Bureau, the poverty rate has escalated from 13.2 percent in 2008 to 14.3 percent in 2009. Last year, 43.6 million Americans lived in poverty; that figure increased nearly 4 million, compared to 2008.

“This is the largest number of officially impoverished Americans in the 51 years the government has kept track of poverty levels, and the highest percentage since 1994,” wrote Joseph Shaman, a senior correspondent for AOL news.

Manny Otiko   |   OW Contributor
Apr 1 2010

Recession is the perfect time to expand your company

Abandoned homes, empty store fronts and long unemployment lines. The signs are all there showing that we are in the worst economic climate since the Great Depression. However some African American entrepreneurs are thriving in the so-called Great Recession.
Selena Cuffe, president of Heritage Link Brands, a company that imports and distributes wines produced by Africans and Blacks in the Diaspora, said the current economic climate has made find financing a lot more challenging.

Across Black America

Here’s a look at African American people and issues making headlines throughout the country.
California
Yvette Hollingsworth was recently named chief compliance officer for Wells Fargo & Co. Hollingsworth, who most recently served as managing director and global head of operations compliance and financial crimes compliance & risk management for Barclays Corporate & Investment Bank, will begin her new role on June 1, 2012. Hollingsworth will be based in San Francisco, and will report to Caryl Athanasiu, executive vice president and chief operational risk officer in the corporate risk group. As chief compliance officer, Hollingsworth will be responsible for ensuring that all areas of the company meet compliance management responsibilities and abide by all applicable laws and regulations. Her team will continue to provide independent oversight of business-based compliance management activities.
District of Columbia
U.S. Senator Barbara Boxer (D-CA) issued the following statement after the Senate voted to confirm Los Angeles attorney Paul Watford to serve on the U.S. Ninth Circuit Court of Appeals: “It is great news that the Senate has confirmed Paul Watford, an exceptionally talented attorney, to serve on the Ninth Circuit Court of Appeals. He has a breadth of experience as a former prosecutor and a top appellate litigator and will make an excellent addition to the federal bench. However, I am very disappointed that more of my Republican colleagues did not join us in backing this highly qualified nominee.” When Watford is sworn in, he will be only the second African American serving on the Ninth Circuit.