Business
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
Harvard Grads Jobless? How AI & Ghost Jobs Broke Hiring

America’s job market is facing an unprecedented crisis—and nowhere is this more painfully obvious than at Harvard, the world’s gold standard for elite education. A stunning 25% of Harvard’s MBA class of 2025 remains unemployed months after graduation, the highest rate recorded in university history. The Ivy League dream has become a harsh wakeup call, and it’s sending shockwaves across the professional landscape.

Jobless at the Top: Why Graduates Can’t Find Work
For decades, a Harvard diploma was considered a golden ticket. Now, graduates send out hundreds of résumés, often from their parents’ homes, only to get ghosted or auto-rejected by machines. Only 30% of all 2025 graduates nationally have found full-time work in their field, and nearly half feel unprepared for the workforce. “Go to college, get a good job“—that promise is slipping away, even for the smartest and most driven.
Tech’s Iron Grip: ATS and AI Gatekeepers
Applicant tracking systems (ATS) and AI algorithms have become ruthless gatekeepers. If a résumé doesn’t perfectly match the keywords or formatting demanded by the bots, it never reaches human eyes. The age of human connection is gone—now, you’re just a data point to be sorted and discarded.
AI screening has gone beyond basic qualifications. New tools “read” for inferred personality and tone, rejecting candidates for reasons they never see. Worse, up to half of online job listings may be fake—created simply to collect résumés, pad company metrics, or fulfill compliance without ever intending to fill the role.
The Experience Trap: Entry-Level Jobs Require Years
It’s not just Harvard grads who are hurting. Entry-level roles demand years of experience, unpaid internships, and portfolios that resemble a seasoned professional, not a fresh graduate. A bachelor’s degree, once the key to entry, is now just the price of admission. Overqualified candidates compete for underpaid jobs, often just to survive.
One Harvard MBA described applying to 1,000 jobs with no results. Companies, inundated by applications, are now so selective that only those who precisely “game the system” have a shot. This has fundamentally flipped the hiring pyramid: enormous demand for experience, shrinking chances for new entrants, and a brutal gauntlet for anyone not perfectly groomed by internships and coaching.
Burnout Before Day One
The cost is more than financial—mental health and optimism are collapsing among the newest generation of workers. Many come out of elite programs and immediately end up in jobs that don’t require degrees, or take positions far below their qualifications just to pay the bills. There’s a sense of burnout before careers even begin, trapping talent in a cycle of exhaustion, frustration, and disillusionment.
Cultural Collapse: From Relationships to Algorithms
What’s really broken? The culture of hiring itself. Companies have traded trust, mentorship, and relationships for metrics, optimizations, and cost-cutting. Managers no longer hire on potential—they rely on machines, rankings, and personality tests that filter out individuality and reward those who play the algorithmic game best.
AI has automated the very entry-level work that used to build careers—research, drafting, and analysis—and erased the first rung of the professional ladder for thousands of new graduates. The result is a workforce filled with people who know how to pass tests, not necessarily solve problems or drive innovation.
The Ghost Job Phenomenon
Up to half of all listings for entry-level jobs may be “ghost jobs”—positions posted online for optics, compliance, or future needs, but never intended for real hiring. This means millions of job seekers spend hours on applications destined for digital purgatory, further fueling exhaustion and cynicism.
Not Lazy—Just Locked Out
Despite the headlines, the new class of unemployed graduates is not lazy or entitled—they are overqualified, underleveraged, and battered by a broken process. Harvard’s brand means less to AI and ATS systems than the right keyword or résumé format. Human judgment has been sidelined; individuality is filtered out.

What’s Next? Back to Human Connection
Unless companies rediscover the value of human potential, mentorship, and relationships, the job search will remain a brutal numbers game—one that even the “best and brightest” struggle to win. The current system doesn’t just hurt workers—it holds companies back from hiring bold, creative talent who don’t fit perfect digital boxes.
Key Facts:
- 25% of Harvard MBAs unemployed, highest on record
- Only 30% of 2025 grads nationwide have jobs in their field
- Nearly half of grads feel unprepared for real work
- Up to 50% of entry-level listings are “ghost jobs”
- AI and ATS have replaced human judgment at most companies
If you’ve felt this struggle—or see it happening around you—share your story in the comments. And make sure to subscribe for more deep dives on the reality of today’s economy and job market.
This is not just a Harvard problem. It’s a sign that America’s job engine is running on empty, and it’s time to reboot—before another generation is locked out.
Business
Why 9 Million Americans Have Left

The Growing American Exodus
Nearly 9 million Americans now live outside the United States—a number that rivals the population of several states and signals a profound shift in how people view the American dream. This mass migration isn’t confined to retirees or the wealthy. Thanks to remote work, digital nomad visas, and mounting pressures at home, young professionals, families, and business owners are increasingly joining the ranks of expats.

Rising Costs and Shrinking Wallets
Living in the US has become increasingly expensive. Weekly grocery bills topping $300 are not uncommon, and everyday items like coffee and beef have surged in price over the last year. Rent, utilities, and other essentials also continue to climb, leaving many Americans to cut meals or put off purchases just to make ends meet. In contrast, life in countries like Mexico or Costa Rica often costs just 50–60% of what it does in the US—without sacrificing comfort or quality.
Health Care Concerns Drive Migration
America’s health care system is a major trigger for relocation. Despite the fact that the US spends more per person on health care than any other country, millions struggle to access affordable treatment. Over half of Americans admit to delaying medical care due to cost, with households earning below $40,000 seeing this rate jump to 63%. Many expats point to countries such as Spain or Thailand, where health care is both affordable and accessible, as a major draw.

Seeking Safety Abroad
Public safety issues—especially violent crime and gun-related incidents—have made many Americans feel unsafe, even in their own communities. The 2024 Global Peace Index documents a decline in North America’s safety ratings, while families in major cities often prioritize teaching their children to avoid gun violence over simple street safety. In many overseas destinations, newly arrived American families report a significant improvement in their sense of security and peace of mind.
Tax Burdens and Bureaucracy
US tax laws extend abroad, requiring expats to file annual returns and comply with complicated rules through acts such as FATCA. For some, the burden of global tax compliance is so great that thousands relinquish their US citizenship each year simply to escape the paperwork and scrutiny.
The Digital Nomad Revolution
Remote work has unlocked new pathways for Americans. Over a quarter of all paid workdays in the US are now fully remote, and more than 40 countries offer digital nomad visas for foreign professionals. Many Americans are leveraging this opportunity to maintain their US incomes while cutting costs and upgrading their quality of life abroad.

Conclusion: Redefining the Dream
The mass departure of nearly 9 million Americans reveals deep cracks in what was once considered the land of opportunity. Escalating costs, inaccessible healthcare, safety concerns, and relentless bureaucracy have spurred a global search for better options. For millions, the modern American dream is no longer tied to a white-picket fence, but found in newfound freedom beyond America’s borders.
Business
Will Theaters Crush Streaming in Hollywood’s Next Act?

Hollywood is bracing for a pivotal comeback, and for movie lovers, it’s the kind of shake-up that could redefine the very culture of cinema. With the freshly merged Paramount-Skydance shaking up its strategy, CEO David Ellison’s announcement doesn’t just signal a change—it reignites the passion for moviegoing that built the magic of Hollywood in the first place.

Theatrical Experience Roars Back
Fans and insiders alike have felt the itch for more event movies. For years, streaming promised endless options, but fragmented attention left many longing for communal spectacle. Now, with Paramount-Skydance tripling its film output for the big screen, it’s clear: studio leaders believe there’s no substitute for the lights, the hush before the opening credits, and the collective thrill of reacting to Hollywood’s latest blockbusters. Ellison’s pivot away from streaming exclusives taps deep into what unites cinephiles—the lived experience of cinema as art and event, not just content.
Industry Pulse: From Crisis to Renaissance
On the financial front, the numbers are as electrifying as any plot twist. After years of doubt, the box office is roaring. AMC, the world’s largest theater chain, reports a staggering 26% spike in moviegoer attendance and 36% revenue growth in Q2 2025. That kind of momentum hasn’t been seen since the heyday of summer tentpoles—and it’s not just about more tickets sold. AMC’s strategy—premium screens, with IMAX and Dolby Cinema, curated concessions, and branded collectibles—has turned every new release into an event, driving per-customer profits up nearly 50% compared to pre-pandemic norms.
Blockbusters Lead the Culture
Forget the gloom of endless streaming drops; when films like Top Gun: Maverick, Mission: Impossible, Minecraft, and surprise hits like Weapons and Freakier Friday draw crowds, the industry—and movie fans—sit up and take notice. Movie-themed collectibles and concession innovations, from Barbie’s iconic pink car popcorn holders to anniversary tie-ins, have made each screening a moment worth remembering, blending nostalgia and discovery. The focus: high-impact, shared audience experiences that streaming can’t replicate.
Streaming’s Limits and Studio Strategy
Yes, streaming is still surging, but the tide may be turning. The biggest franchises, and the biggest cultural events, happen when audiences come together for a theatrical release. Paramount-Skydance’s shift signals to rivals that premium storytelling and box office spectacle are again at the center of Hollywood value creation. The result is not just higher profits for exhibitors like AMC, but a rebirth of movie-going as the ultimate destination for fans hungry for connection and cinematic adventure.

Future Forecast: Culture, Community, and Blockbuster Dreams
As PwC and others warn that box office totals may take years to fully catch up, movie lovers and industry leaders alike are betting that exclusive theatrical runs, enhanced viewing experiences, and fan-driven engagement are the ingredients for long-term recovery—and a new golden age. The Paramount-Skydance play is more than a business move; it’s a rallying cry for the art of the theatrical event. Expect more big bets, more surprises, and—finally—a long-overdue renaissance for the silver screen.
For those who believe in the power of cinema, it’s a thrilling second act—and the best seat in the house might be front and center once again.
News4 weeks agoDiddy Wakes Up to Knife in Prison Attack
Business4 weeks agoHarvard Grads Jobless? How AI & Ghost Jobs Broke Hiring
Entertainment2 weeks agoAfter Party: Festival Winner for Best Romantic Short
News1 week agoCamp Wackapoo – Rise of Glog Takes Center Stage
Entertainment1 week agoFrancisco Ramos Takes Top Mockumentary Award at Houston Comedy Film Festival
Politics2 weeks agoMamdani’s Victory Triggers Nationwide Concern Over New York’s Future
Politics2 weeks agoTrump’s $2,000 Tariff Dividend Plan: Who Gets Paid?
News1 week ago50-Year Mortgages: A Game Changer or a Debt Trap?




















