NIH Bias No Surprise to Black Scientists

From The Bottom Line: Reaction to research disparity, plus cool condoms, new Chicago biz mag and other business news.

Posted:
 
(Continued from Page 1)

The company, B Holding Group, LLC, launched on World AIDS Day, Dec. 1, 2010. It now has an office in New York City's Harlem, is working with more than 50 community groups and is the official condom vendor for the city of Baltimore. The firm hopes to sell its products in retail chains. See b Condom's products and follow its blog.

Black Consumer Expert Launches Chicago Magazine

Target Market News, the "Black Consumer Market Authority," has published the premiere print and Web issues of Black Business Chicago: News and Information to Empower Entrepreneurs and Executives.

The publication features John W. Rogers Jr. on its first cover. Rogers is the founder, CEO and chief investment officer of Ariel Investments, the nation's oldest black-owned mutual fund company, founded in 1983. Ken Smikle, the founder of Target Market News and Black Business Chicago, says that since 1781 -- when Jean Baptiste Point Du Sable, a black man, possibly from Saint-Domingue (now Haiti), founded what became Chicago -- black Chicagoans have "imagined, pursued and achieved the American dream of building their own business success."

Blacks Most Likely to Own Life Insurance

Many people hold on to their money rather than invest because they lack the cash. Others won't invest because they distrust the vehicles used to create capital or income: real estate, stocks, bonds or other securities.

But African Americans still invest in a traditional way: They purchase life insurance. The Pittsburgh Post-Gazette reports that LIMRA, a major insurance-industry association, and the nonprofit Life Foundation found that 76 percent of African Americans will likely own life insurance, followed by 62 percent of whites and 54 percent of Latinos, who can be of any race.

Today, black life insurance buyers may not see their purchase as a counter to the growing wealth gap between the races, but it has historical resonance. In the 19th century, black benevolent societies spawned insurance companies such as the North Carolina Mutual Life Insurance Co. and the Atlanta Life Insurance Co., which provided safe financial havens for blacks living under American apartheid.

Like The Root on Facebook. Follow us on Twitter.

Insurance policies were important because a disproportionate percentage of black incomes were low and funeral costs were high. Plus, black men and women saw insurance as the sure way to leave something of monetary value to their families.