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Congressional Black Caucus urges corporate America to recommit to diversity, equity and inclusion on December 15, 2023 at 7:14 pm Business News | The Hill
The Congressional Black Caucus (CBC) is calling on corporate America to recommit to diversity, equity and inclusion promises, including $50 billion in investments, made after the 2020 murder of George Floyd.
In a Corporate Accountability letter, previewed by The Hill, the CBC asks corporations for an update on their racial equity investments and to work with the Caucus to create legislative solutions that will help close the racial wealth gap.
“For years advocates have taken a front-row seat in this fight, working tirelessly to ensure the Black community prospers against these odds,” the letter said. “It is past time to concentrate our efforts and equip our community with the necessary resources to close the racial wealth gap in America. The journey in front of us requires Corporate America to help drive an agenda that will power Black economic mobility.”
Following the murder of Floyd, who was killed when a Minneapolis police officer kneeled on his neck for more than nine minutes in the summer of 2020, racial justice protests spread throughout the nation, and the corporate field was not spared. DEI roles increased by 55 percent, according to a report from the Society for Human Resource Management. But those roles are now seeing cutbacks and workers fired.
The CBC’s letter also points to reports around corporations participating in performative actions such as hosting fake interviews for diverse candidates to give the appearance that they have increased DEI efforts.
Now, the caucus is giving corporate America until Jan. 31 to share its DEI improvements before it releases a report card, which will detail where corporations stand in their commitments to invest in, hire and promote Black workers.
In an exclusive interview with The Hill, Democratic Reps. Steven Horsford (Nev.), chair of the caucus, Joyce Beatty (Ohio), first chair of the Financial Services Committee’s Subcommittee on Diversity and Inclusion, and Glenn Ivey (Md.) explained that the letter is about ending the assault on DEI.
“This is about the CBC, collectively, and the 120 million Americans that we represent, 20 million Black Americans, who are literally under assault and under attack when it comes to economic opportunity,” said Horsford. “We talk a lot about democracy and we will always fight for and uphold the provisions around democracy, including the right to vote, and one of those most fundamental rights is the right for economic justice.”
Black Americans are significantly underrepresented in high-wage industries and face low probabilities of advancement. Black employees make up only 12 percent of the private-sector and only 7 percent of high-ranking positions like senior manager, vice president and senior vice president.
As such, Black households hold only 4 percent of wealth — but white households hold 84 percent wealth, according to the Brookings Institution.
“If we’re really going to be about changing the economics, if we’re going to be about creating wealth, we have to do it in a variety of areas,” Beatty said. “If we are not in the arena where major decisions are made about economics, then we’re not going to be able to be a part of having generational wealth.”
The CBC’s letter comes at a time when DEI practices are being challenged nationwide.
In May, Florida Gov. Ron DeSantis, who is running for the GOP presidential nomination, signed a bill into law banning the state’s public colleges and universities from spending money on DEI programs.
Shortly thereafter, the Supreme Court declared race-conscious affirmative action in college admissions unconstitutional.
Then, in July, 13 Republican state attorneys general sent a letter to Fortune 100 companies threatening legal action if they don’t stop DEI efforts, calling such actions “racially discriminatory quotas and preferences.”
In Tennessee, the Small Business Administration (SBA) has temporarily suspended new applications to the 8(a) Business Development Program, which has provided tools and resources for small businesses to help owners compete in the public and private sectors.
Ivey said the CBC is there to support not only 8(a) applicants, but minority business owners across the board.
“As these attacks are going to continue to come in courts across the country, we want to make sure we’re standing with them and those efforts,” Ivey said. “We want to make sure that the 8(a) program and federal procurement is one way that these businesses are allowed to thrive and grow. We want to make sure that minority businesses aren’t just relying on the federal government or state governments to build businesses, but they get to do work in the private sector as well.”
But Horsford added that the issue of DEI affects more than just Black workers – it’s about ensuring all Americans regardless of gender, learning abilities and color “have ample opportunity and access.”
“This is about measuring within the company the approaches that they are taking around governance and leadership, of course their HR policies, how they empower the worker voice and representation,” Horsford said. “This is also about what companies are doing within the community where they are operating, the trust and relationships that are forming the corporate philanthropy, the local policy and the environmental justice impacts that they may be having.”
It’s also about what corporations are doing to help advance national policy around the racial wealth gap and investments they are making outside their communities, he added.
Corporations should care about these issues just as much as the caucus does, the members added.
Studies have found that diverse workforces are 19 percent more productive, and that gender and ethnic diversity increase a company’s financial performance above the national industry median by an average of 25 percent.
And despite the attacks on DEI, a majority of Americans support such practices.
A poll commissioned by the Black Economic Alliance Foundation found that 78 percent of Americans “support businesses taking steps to make sure companies reflect the diversity of the American population.”
“When you put us in the room, it puts more diversity on not just race and ethnicity, but diversity of thought, diversity of background, diversity of experience, and it makes it better for the company,” Beatty said.
Race & Politics, Business, House, News, Congressional Black Caucus, DEI, diversity equity and inclusion The Congressional Black Caucus (CBC) is calling on corporate America to recommit to diversity, equity and inclusion promises, including $50 billion in investments, made after the 2020 murder of George Floyd. In a Corporate Accountability letter, previewed by The Hill, the CBC asks corporations for an update on their racial equity investments and to work with the Caucus to create legislative…
Business
The Cities Bracing for Trump’s Immigration Crackdown
In the wake of Donald Trump’s recent election victory and his promise of “the largest deportation operation in American history,” several major U.S. cities are bracing for potentially seismic shifts in their economic and social landscapes. As the nation grapples with the implications of this proposed policy, urban centers that have long been havens for immigrant communities find themselves at the epicenter of a looming storm.
Los Angeles, often dubbed the “City of Angels,” stands to lose more than its celestial nickname suggests. As a primary gateway for immigrants, the city’s vibrant tapestry of cultures and its economic engine could face significant disruption. From the bustling streets of Koreatown to the sun-drenched orchards of the Central Valley, the absence of undocumented workers could leave gaping holes in the city’s workforce and cultural identity.
Across the country, New York City, with its iconic skyline and melting pot reputation, faces its own reckoning. The Big Apple’s 5.9 million immigrants, many of whom are undocumented, form the backbone of industries ranging from construction to healthcare. The potential exodus could transform neighborhoods like Jackson Heights and Flushing, altering the very essence of what makes New York a global city.In the Sunshine State, Miami’s tropical allure belies the turbulent times ahead. Home to 2.5 million immigrants, the city’s economy relies heavily on sectors like tourism and hospitality – industries where undocumented workers often fill crucial roles. The potential deportation of these workers could send shockwaves through Miami’s economic ecosystem, from South Beach’s glitzy hotels to the agricultural heartlands of South Florida.
Chicago, the “City of Big Shoulders,” may find those shoulders significantly weakened. With 1.7 million immigrants in its metropolitan area, the Windy City’s diverse neighborhoods and industries face an uncertain future. From the meatpacking plants to the tech startups, Chicago’s economic resilience could be tested like never before.
In the Lone Star State, Houston and Dallas stand as twin testaments to the complexities of immigration policy. These Texas titans, each home to large immigrant populations, could see their booming economies stumble. The construction sites that dot their ever-expanding skylines and the service industries that keep these cities humming could face unprecedented labor shortages.
Out West, the San Francisco Bay Area’s reputation as a bastion of innovation and progress could be challenged. The region’s tech industry, often reliant on immigrant talent, might find itself grappling with a new reality. From Silicon Valley’s coding campuses to the agricultural expanses of the Central Valley, California’s economic powerhouse could face a reckoning. Phoenix, rising from the Sonoran Desert, could see its growth trajectory altered. As Arizona’s urban center, it stands at the forefront of the immigration debate, potentially facing not just economic impacts but social and political upheaval as well.
These cities, along with others like San Diego and Las Vegas, are not just facing potential economic disruptions. They are staring down the barrel of profound social change. Family separations, community fragmentation, and the erosion of cultural enclaves built over generations are all possible consequences of mass deportations. Moreover, the fiscal implications are staggering. Undocumented immigrants contribute billions in taxes annually, often without receiving the full benefits of their contributions. Their sudden absence could leave gaping holes in city budgets, potentially affecting public services and infrastructure projects.
As these urban centers brace for impact, the debate rages on. Supporters of stricter immigration policies argue for the need to enforce laws and protect American jobs. Critics warn of economic devastation and the unraveling of America’s urban fabric. What’s clear is that America’s cities stand at a crossroads. The coming months and years will likely reshape urban landscapes in ways both visible and invisible. From the foods we eat to the services we rely on, from the neighborhoods we call home to the very character of our cities, the impacts of this proposed immigration crackdown could be far-reaching and long-lasting. As the nation watches and waits, these cities – vibrant, diverse, and economically vital – find themselves on the front lines of a policy that could redefine what it means to be an American city in the 21st century.
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Business
How Trump’s Deportation Plans Could Reshape Major Cities
In the wake of Donald Trump’s recent election victory, his ambitious plans for mass deportations have thrust America’s urban centers into the spotlight. As the nation grapples with the potential implications of what Trump calls “the largest deportation operation in American history,” cities across the country are bracing for significant changes that could reshape their economic, social, and cultural landscapes.
The stakes are particularly high for metropolitan areas like New York, Los Angeles, Houston, Dallas, and Miami, which host the largest populations of unauthorized immigrants. These cities, along with other major urban hubs such as Chicago, Washington D.C., and San Francisco, stand at the forefront of a looming transformation that could reverberate throughout the nation.
Economic Tremors
Economists warn that the proposed deportations could send shockwaves through urban economies. Mark Zandi, chief economist at Moody’s, cautions that businesses would face “significant challenges” if a substantial number of immigrants were removed. Industries such as construction, hospitality, and healthcare—pillars of urban economies—could face severe labor shortages.
Joe Brusuelas, chief economist at RSM, emphasizes the potential ripple effects: “The native-born workforce cannot meet current labor demands.” This labor gap could lead to increased wages, potentially rekindling inflation—a concern that looms large over city planners and policymakers alike.
Community Fabric Under Strain
Beyond economic considerations, the social fabric of cities hangs in the balance. Elena, a Nicaraguan immigrant in Houston, voices a fear echoed in immigrant communities across the nation: “I’m scared… This is my home.” The threat of family separations, particularly in mixed-status households, casts a long shadow over urban neighborhoods.
Immigrant advocacy groups like FIEL are mobilizing, advising clients to prepare for “anything that can happen.” This atmosphere of uncertainty could lead to decreased community engagement and cooperation with local authorities, potentially impacting public safety and community cohesion.
Cities at a Crossroads
As the debate intensifies, cities find themselves at a crossroads. Some, like New York and Los Angeles, have historically positioned themselves as “sanctuary cities,” often at odds with federal immigration enforcement. The impending clash between federal policy and local governance promises to be a defining feature of this new political landscape.
Meanwhile, the logistical challenges of implementing such a massive deportation operation remain daunting. Questions abound regarding detention facilities, transportation networks, and the sheer manpower required to carry out Trump’s vision.
Looking Ahead
As America’s urban centers brace for potential change, the full impact of Trump’s deportation plans remains to be seen. Legal challenges are all but certain, and the resilience of America’s cities will be put to the test.
What is clear is that the coming months and years will be pivotal for urban America. As Jason Miller, a senior Trump adviser, puts it, the plan is to “immediately reinstate” immigration policies from Trump’s first term. For America’s cities, this could mean a period of unprecedented change, challenge, and, potentially, transformation.
As the nation watches and waits, the story of America’s cities in the face of this ambitious deportation plan is just beginning to unfold. The outcome will undoubtedly shape the future of urban life in America for years to come.
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Business
Donald Trump Wins 2024 USA Election
Based on the election results, Donald Trump has indeed won the 2024 U.S. presidential election, defeating Vice President Kamala Harris. Here’s an analysis of the key statistics and implications:
Electoral College Victory
Donald Trump has secured the presidency by winning crucial battleground states and flipping some key states that were previously held by Democrats. The final Electoral College tally is still being determined, but Trump has surpassed the 270 electoral votes needed to win.
Battleground State Performance
Trump’s victory was largely secured by winning several critical swing states:
- Wisconsin: Trump’s win here was pivotal in securing his path to victory.
- Pennsylvania: This state flipped back to Republican control.
- Georgia: Another key state that Trump managed to win back.
- Michigan: Trump successfully flipped this traditionally Democratic stronghold.
Popular Vote and Voter Priorities
While the final popular vote tally is still being calculated, exit polls provide insight into voter priorities:
- Economy and democracy were top concerns for voters.
- Abortion and immigration also played significant roles in voter decision-making.
Congressional Control
The election results extend beyond the presidency:
- Republicans are set to take back the Senate majority, securing at least 51 seats.
- Control of the House of Representatives remains undetermined.
Media Implications
The outcome of this election could be seen as a challenge to mainstream media narratives for several reasons:
- Polling Discrepancies: Many pre-election polls suggested a tight race or even a slight Harris advantage in key states. Trump’s victory, particularly in battleground states, may indicate that polls underestimated his support.
- Narrative Shifts: Throughout the campaign, much of the mainstream media focused on Trump’s legal challenges and controversies. His victory suggests that these issues may not have resonated with voters as much as economic and policy concerns.
- Voter Priorities: The emphasis on issues like the economy and immigration in voter decision-making may indicate a disconnect between media focus and voter concerns.
- Electoral Predictions: Many mainstream outlets were cautious about predicting a Trump victory, even as results began to favor him. This hesitancy could be seen as a reflection of broader media skepticism about Trump’s chances.
- Underestimation of Trump’s Base: The results suggest that Trump’s core support remained strong and potentially grew, despite negative coverage in much of the mainstream media.
It’s important to note that while the election outcome may challenge some media narratives, it doesn’t necessarily invalidate all mainstream reporting. The complex factors influencing voter behavior and the challenges of accurate political forecasting remain subjects of ongoing analysis and debate.
As the dust settles on this historic election, both the media and political analysts will likely engage in extensive reflection on the factors that led to Trump’s victory and the implications for future political coverage and analysis.
Bolanle Media is excited to announce our partnership with The Newbie Film Academy to offer comprehensive courses designed specifically for aspiring screenwriters. Whether you’re just starting out or looking to enhance your skills, our resources will provide you with the tools and knowledge needed to succeed in the competitive world of screenwriting. Join us today to unlock your creative potential and take your first steps toward crafting compelling stories that resonate with audiences. Let’s turn your ideas into impactful scripts together!
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