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Finally Here We Go Economic Empowerment!!

yureeka9 said:
And there's nothing wrong with being cautious with your money. Has nothing to do with color either. Everyone on this board that has done black business has probably been burned. So I'm not gonna just go out and write Umar Johnson a check for his school without seeing certain things in place first, I'm not running out and putting my money in a bank just because its the fad thing to do right now either. I need certain assurances. Just last month I had to file a complaint against a brother for ripping me off on some rehab work. I wanted to support a black business and keep the black dollars in our community. Now I gotta go to court in another state and fight for my $3000 back. So maybe if you're at the nickles and dimes level with your finances you can throw money at a bank that may or may not sell out to crackers in the future thus putting you right back in the white man's pocket, but I'm more discriminating with my dollars and a lot more serious about black infrastructure.
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Thats BUSINESS brother, it wouldn't have mattered black or white shitty folks exist... BUT when a CAC rips you off its him, when a Blackman does its representative of black businessmen.

Again no offense, but I been ripped off enough by cac institutions and kept doing business with other CAC institutions... as we all have.

We WILLINGLY do business with the likes of BofA knowing full well how they have institutional lyrics ripped off their customers and systemically propped up white supremacy in their leading practices... hell Look at how backs even look in black areas.
 
BitchI'llKillYa said:
Thats BUSINESS brother, it wouldn't have mattered black or white shitty folks exist... BUT when a CAC rips you off its him, when a Blackman does its representative of black businessmen.

Again no offense, but I been ripped off enough by cac institutions and kept doing business with other CAC institutions... as we all have.

We WILLINGLY do business with the likes of BofA knowing full well how they have institutional lyrics ripped off their customers and systemically propped up white supremacy in their leading practices... hell Look at how backs even look in black areas.
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Yeah, you're right, but the proof is always in the pudding. Its tough to put the same faith in the people at the bottom rung of the socio-economic ladder as it is in the people at the top. Dammit I hate to have to admit that the infrastructure whites have built is very secure! But hell, it is!!! If there were a black wall street like the one in Tulsa alive and thriving today I'd be the first person to drop everything and move there! I'd love to see our people get out from under by doing what's necessary, but like you said we need to trust each other. I just don't think trusting each other is the first step. Its the second step after we stop trying to get over on one another.
 
yureeka9 said:
Yeah, you're right, but the proof is always in the pudding. Its tough to put the same faith in the people at the bottom rung of the socio-economic ladder as it is in the people at the top. Dammit I hate to have to admit that the infrastructure whites have built is very secure! But hell, it is!!! If there were a black wall street like the one in Tulsa alive and thriving today I'd be the first person to drop everything and move there! I'd love to see our people get out from under by doing what's necessary, but like you said we need to trust each other. I just don't think trusting each other is the first step. Its the second step after we stop trying to get over on one another.
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Come on bruh...

#SelfHate comes in many forms. Not blaming you but if there was a "Black Wallstreet", we would trust it.

People of all colors try to get over.

Protect yourself with options and watching your money/investments. Work with folks with solid reputations, and use contracts....

For God's sake pay our people what their skill set demands.


That get over game goes both ways...
 
BitchI'llKillYa said:
Come on bruh...

#SelfHate comes in many forms. Not blaming you but if there was a "Black Wallstreet", we would trust it.

People of all colors try to get over.

Protect yourself with options and watching your money/investments. Work with folks with solid reputations, and use contracts....

For God's sake pay our people what their skill set demands.


That get over game goes both ways...
Click to expand...
This is an illustration of where a lot of well meaning black people are at:

  • Black economics are fucked up
  • Why? Well they're fucked up because black people don't trust one another enough to come together and make the community economically strong.
  • Well its tough to get poor, powerless people to trust.
  • Why? Because poor, powerless people will rip each other off because they're poor and powerless.
  • Could you ever trust a poor, powerless person that's apt to rip you off?
  • Not likely. Then I don't see how we can build economic infrastructure.
Endless_Loop.jpg


This isn't a direct correlation, but you understand what I'm saying.
 
yureeka9 said:
I love this movement, but I hope we aren't naive enough to think that if black banks start receiving huge percentages of black dollars that the owners of these black banks won't sell out when banking giants take notice. Wasn't BET black owned until they become so successful that whites saw an opportunity?I'm gonna need to hear these bank owners say they're not for sale.
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That would be a damn shame.. I thought the purpose was empowerment.
 
phanatic said:
I'm getting better at this coded language gane, I like how they toss in "a lot of rappers are leading this campaign". Not black celebrities, RAPPERS! LIke black people can be motivated to do something unless a person that rhymes words or catches a ball says it's okay.
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I caught that..and I said..bitch shut the fuck up...
 
BitchI'llKillYa said:
Them banks are KEY to that... they give those SBLs...

We can't get from other institutions
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I hope so. I need $65,000 to get my first business going. That will be enough to buy two vehicles, take care of any ancillary details ( inspection fees, employee training, vehicle maintenance, a laptop) with enough to take care of the unknown unknown.

Getting into a business there are a lot of unknowns. You have to prepare for them with at least $15,000 because he won't be able to ask for another loan after you just asked for one. Even so a friend of mine is in the same business and can warn me of any minefields, preparing Corvette unknown unknown it's just a good business strategy.
 
godofwine said:
I hope so. I need $65,000 to get my first business going. That will be enough to buy two vehicles, take care of any ancillary details ( inspection fees, employee training, vehicle maintenance, a laptop) with enough to take care of the unknown unknown.

Getting into a business there are a lot of unknowns. You have to prepare for them with at least $15,000 because he won't be able to ask for another loan after you just asked for one. Even so a friend of mine is in the same business and can warn me of any minefields, preparing Corvette unknown unknown it's just a good business strategy.
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Thats the idea...

65k is not un reasonable

I know a CAC that pulled 300k out a WF at 22... no real previous credit history

That's why this is so needed
 
yureeka9 said:
I love this movement, but I hope we aren't naive enough to think that if black banks start receiving huge percentages of black dollars that the owners of these black banks won't sell out when banking giants take notice. Wasn't BET black owned until they become so successful that whites saw an opportunity?I'm gonna need to hear these bank owners say they're not for sale.
Click to expand...

when I mentioned a similar sentiment in another thread, some idiot called me an idiot :roflmao:you can always tell the ones who know nothing about business practices. no one is saying that this is not a good idea. it's a fucking great idea. but mergers and acquisitions are a way of the business world. if these black banks would say to black folks, in essence a pledge saying "we promise never to sell out, we promise to keep this bank black owned for eternity and to use the proceeds to benefit the community from which it's coming, we will be stewards of your money and guard it like an old family recipe", that would solidify this movement and would be awesome. but will they do that? that's all some of us want to know
 
rph2005 said:
when I mentioned a similar sentiment in another thread, some idiot called me an idiot :roflmao:you can always tell the ones who know nothing about business practices. no one is saying that this is not a good idea. it's a fucking great idea. but mergers and acquisitions are a way of the business world. if these black banks would say to black folks, in essence a pledge saying "we promise never to sell out, we promise to keep this bank black owned for eternity and to use the proceeds to benefit the community from which it's coming, we will be stewards of your money and guard it like an old family recipe", that would solidify this movement and would be awesome. but will they do that? that's all some of us want to know
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This is all I'm trying to say. Very well put bruh...:yes::yes::yes::yes::yes:
 
BitchI'llKillYa said:
Thats the idea...

65k is not un reasonable

I know a CAC that pulled 300k out a WF at 22... no real previous credit history

That's why this is so needed
Click to expand...
Honestly I can't wait to tell you all. It's a genius plan, really.. as I said before, I don't want to depend on my community business for my well-being. The community business will take care of itself, and if it only breaks even that's fine with me. I'm not in that business to make money
 
godofwine said:
What we need are black owned businesses in the community. I'm working on it
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yureeka9 said:
This is all I'm trying to say. Very well put bruh...:yes::yes::yes::yes::yes:
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I got you, but we DON'T put any such expectations on CACs...

Matter of fact we put no expectations on those types of companies, we just do business with them.

That's what I'm saying.

If you wouldn't ask McDonald's for something, Don ask Malik's fish burgers. . Plain and simple
 
BitchI'llKillYa said:
I got you, but we DON'T put any such expectations on CACs...

Matter of fact we put no expectations on those types of companies, we just do business with them.

That's what I'm saying.

If you wouldn't ask McDonald's for something, Don ask Malik's fish burgers. . Plain and simple
Click to expand...
I see what you're saying as well, but lets be real bruh...You don't question the safety and use of your money at Bank of America for two reasons: 1) They are a global Icon and they have the success and presence to operate far beyond robbing your paycheck. 2) We already know their primary objective is not build black communities so we don't waste our breath. Now when Rollo opens up his fly by night storefront operation collecting checks from all the hard working poor black people all he has is his shared complexion and good word to secure my money. I don't know about you, but that's simply not enough for an operation that can't nailed down anywhere beyond the hood. This isn't a black thing or white thing. This is about trying to be smart about the few nickles we have in the black community. I don't want to put my life savings in his bank and a week later see an "out of business" sign on the door. Bank of America has a sticker that says Member FDIC. Does Rollo? Black bank or white bank the money spends the same. I just want to make sure I don't get fucked.
 
yureeka9 said:
I see what you're saying as well, but lets be real bruh...You don't question the safety and use of your money at Bank of America for two reasons: 1) They are a global Icon and they have the success and presence to operate far beyond robbing your paycheck. 2) We already know their primary objective is not build black communities so we don't waste our breath. Now when Rollo opens up his fly by night storefront operation collecting checks from all the hard working poor black people all he has is his shared complexion and good word to secure my money. I don't know about you, but that's simply not enough for an operation that can't nailed down anywhere beyond the hood. This isn't a black thing or white thing. This is about trying to be smart about the few nickles we have in the black community. I don't want to put my life savings in his bank and a week later see an "out of business" sign on the door. Bank of America has a sticker that says Member FDIC. Does Rollo? Black bank or white bank the money spends the same. I just want to make sure I don't get fucked.
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Lol ok...

You believe what you want.

Don't be blined by mistrust/selfhate.

ING launched in 1991 and NOBODY questioned their fly by night ness.

Those question are reserved for the folks that look like you.

Selfhate is a seed planted by the enemy to cripple our minds.

Those seeds have grown in to forrests...
 
The Lawsuits Plaguing Bank of America

Bank of America CEO Brian Moynihan is a lawyer by training, but the number of lawsuits the bank is facing must make him dizzy. The massive amount of litigation and legal claims is one of the big reasons Bank of America’s shares have tumbled
 
For all the nay-sayers just take a $100 and open an account with a black bank. If a $100 is too much then you got major problems. I live in the bay area unfortunately there are zero black banks. I'm gonna call one of the two black banks in LA and move some money to their bank, and hell I'm gonna take a quick trip to LA. I wanna converse with these brothaz and sistaz and build a relationship with them exchange knowledge.
 
Rel said:
For all the nay-sayers just take a $100 and open an account with a black bank. If a $100 is too much then you got major problems. I live in the bay area unfortunately there are zero black banks. I'm gonna call one of the two black banks in LA and move some money to their bank, and hell I'm gonna take a quick trip to LA. I wanna converse with these brothaz and sistaz and build a relationship with them exchange knowledge.
Click to expand...

Check out Broadway Federal. That's the one I'm with. They one in downtown L.A and another one Inglewood.

1.jpg
 
BitchI'llKillYa said:
Lol ok...

You believe what you want.

Don't be blined by mistrust/selfhate.

ING launched in 1991 and NOBODY questioned their fly by night ness.

Those question are reserved for the folks that look like you.

Selfhate is a seed planted by the enemy to cripple our minds.

Those seeds have grown in to forrests...
Click to expand...
First, there's no self hate here. I love being black. I have no white friends. I have a black girlfriend with natural hair. I own two homes both in black communities and I don't have a job that makes another white person rich. I trust that you can say the same thing. That being said this isn't about the short comings of black people. This is business. Not sure how old you are, but I'm almost certain you're not as old as I am. When it comes to banks, I opened my first account 26 years ago in a small local bank called Citizens and Southern (C&S). By the time I got out of college it was bought by a larger bank called Nation's Bank. Eventually that bank was acquired by Bank of America. So here I am 26 years later doing business with a banking conglomerate not because I went running to the white man, but because in the business of banking these type of acquisitions are almost inevitable. All I'm asking is that black banks resist the trend and continue to grow without selling out to larger banks. I don't think that's self hate. I think that's good business and a desire to keep black money in black hands.
 
Rel said:
For all the nay-sayers just take a $100 and open an account with a black bank. If a $100 is too much then you got major problems. I live in the bay area unfortunately there are zero black banks. I'm gonna call one of the two black banks in LA and move some money to their bank, and hell I'm gonna take a quick trip to LA. I wanna converse with these brothaz and sistaz and build a relationship with them exchange knowledge.
Click to expand...
I can do that. I live in the DC area so I'm sure there has to be one or two up here or in PG County. I travel a lot with my job so I also hope I can find an ATM that won't charge me a lot of fees for withdrawals out of town.
 
yureeka9 said:
First, there's no self hate here. I love being black. I have no white friends. I have a black girlfriend with natural hair. I own two homes both in black communities and I don't have a job that makes another white person rich. I trust that you can say the same thing. That being said this isn't about the short comings of black people. This is business. Not sure how old you are, but I'm almost certain you're not as old as I am. When it comes to banks, I opened my first account 26 years ago in a small local bank called Citizens and Southern (C&S). By the time I got out of college it was bought by a larger bank called Nation's Bank. Eventually that bank was acquired by Bank of America. So here I am 26 years later doing business with a banking conglomerate not because I went running to the white man, but because in the business of banking these type of acquisitions are almost inevitable. All I'm asking is that black banks resist the trend and continue to grow without selling out to larger banks. I don't think that's self hate. I think that's good business and a desire to keep black money in black hands.
Click to expand...

Of the list of black banks there are some that have been operating since 1970

I'm 36 have property (Several) in black communities [gentrification put that to an end] here in Oakland, California since 1999, I STILL live in West Oakland.

I rent to the last black family on a street in West Oakland

I am, active in my community, own a business. And make a shit ton of money for a cooperation.

The only issue I have had with anything you posted, is the fact that you and WE seem to have higher expectations of black owned business than white. More trust for the devil ass CAC than your own brother. Your quick assumption that the black company will sell on out ect.

and to say ALL of that while CHOOSING to stay with a bank that made all of those changes you dont like for 26 years, while saying you dont want the Black bank to do the same...

That points to self hate...maybe not to you. Im not calling you a coon or anything like that, its a perspective, based on my perception I gained from reading your responses.


last point, im willing to bet that if CAC inc offered you 100 mil, you would sell your business... Why? Because thats the point of opening a business
 
BitchI'llKillYa said:
Of the list of black banks there are some that have been operating since 1970

I'm 36 have property (Several) in black communities [gentrification put that to an end] here in Oakland, California since 1999, I STILL live in West Oakland.

I rent to the last black family on a street in West Oakland

I am, active in my community, own a business. And make a shit ton of money for a cooperation.

The only issue I have had with anything you posted, is the fact that you and WE seem to have higher expectations of black owned business than white. More trust for the devil ass CAC than your own brother. Your quick assumption that the black company will sell on out ect.

and to say ALL of that while CHOOSING to stay with a bank that made all of those changes you dont like for 26 years, while saying you dont want the Black bank to do the same...

That points to self hate...maybe not to you. Im not calling you a coon or anything like that, its a perspective, based on my perception I gained from reading your responses.


last point, im willing to bet that if CAC inc offered you 100 mil, you would sell your business... Why? Because thats the point of opening a business
Click to expand...
Got it. I hear you loud and clear. Sounds like you have a great thing going in Oakland. I don't hold black businesses to a higher standard than white ones. I hold NEW businesses to a higher standard than established ones. It may seem like I'm dumping on our people, but the fact is our people simply have not had established businesses as long as whites have. Let me try to give you a real life example. When I was looking for colleges to attend in 1988 I remember getting something from DeVry and I was like "hell no! This is some fly by night for profit" college and they haven't been around long enough for me to give them my money. However, Fort Valley State University is an HBCU that's been around for over a hundred years and has a storied track record of education and success. That's where I sent my application. Ask yourself if you would trade in what ever car you're driving now (cracka made or Asian made) if a brother came up to you and said "I've just started my own car company. My cars are better than what you have now and they're about 5% cheaper". Somehow I think you would want to see some specs, some features, some studies, some reports and warranty information before you got rid of the cracka/Asian car you're driving now and blindly hand your brother money. That's the point I'm trying to make. Its not self hate. Its business and common sense. We all have to live our lives dependent on something whites have created (i.e. the very computer you're reading this on is likely a white creation) that doesn't mean if a black man makes a computer its no good. I and you have simply gotten used to a certain level of service for our money and we just want that to continue if we're going to take the plunge.
 
BitchI'llKillYa said:
Of the list of black banks there are some that have been operating since 1970

I'm 36 have property (Several) in black communities [gentrification put that to an end] here in Oakland, California since 1999, I STILL live in West Oakland.

I rent to the last black family on a street in West Oakland

I am, active in my community, own a business. And make a shit ton of money for a cooperation.

The only issue I have had with anything you posted, is the fact that you and WE seem to have higher expectations of black owned business than white. More trust for the devil ass CAC than your own brother. Your quick assumption that the black company will sell on out ect.

and to say ALL of that while CHOOSING to stay with a bank that made all of those changes you dont like for 26 years, while saying you dont want the Black bank to do the same...

That points to self hate...maybe not to you. Im not calling you a coon or anything like that, its a perspective, based on my perception I gained from reading your responses.


last point, im willing to bet that if CAC inc offered you 100 mil, you would sell your business... Why? Because thats the point of opening a business
Click to expand...
Oh and to answer your question, if I had a business that was a cog in the wheel of black progression in this country, hell no I would not sell it for 100 million! At least not to someone white.
 
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