• News

by Derek Major

September 9, 2021

The Cannabis Industry Is Skyrocketing, Except For Black Americans Trying To Get In The Industry

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The legal cannabis industry has skyrocketed in recent years and during the COVID-19 pandemic, but those who were most arrested and jailed for cannabis are having trouble getting in.

According to Leafly’s 2020 Jobs Report, the industry accounts for more than  321,000 full-time jobs across the 37 states. This year, while the hotel and restaurant industries continue to struggle to find workers, the cannabis industry added 77,300 jobs and U.S. sales combined were more than $18 billion.

However, for Black Americans, who are almost four times more likely to be arrested for cannabis use or possession, getting into the industry is a struggle to get into.

One of the biggest barriers for Black entrepreneurs trying to get into the cannabis industry is the licensing process itself according to Megan Fox of the National Cannabis Industry Association. The licensing process has a cap that narrows the number of eligible social equity applicants with competitive lotteries for a small number of licenses.

Another issue is access to capital. Launching a cannabis dispensary or cultivation business can cost anywhere from $750,000 to $1 million. Additionally, there are licensing fees, which some states have lowered to give social equity applicants easier access.

“Very few applicants are well-funded and well-connected to deep financial networks. Almost all social equity applicants have issues with access to capital or even getting a license,” Fox told the Guardian. “It often comes down to who can hire the best consultants to put together the best application, and if someone can sit on real estate or keep paying a lease until they get approved. And that can open the door to predatory partnerships that can strip away control of businesses from the people these programs are meant to help.”

Despite the struggles for Black entrepreneurs in the industry, some states are trying to right previous wrongs by using the tax revenue from cannabis legalization to help repair communities that were negatively impacted by anti-cannabis laws.

Illinois has a $32 million revolving loan fund for social equity applicants financed by cannabis businesses established prior to adult legalization. Additionally, 25% of the state’s tax revenue will go towards the Restore, Reinvest and Renew program, helping communities that were impacted by drug laws.

In Virginia, the social equity criteria includes anyone who graduated from an HBCU in the state, anyone who has a marijuana conviction and anyone living in an area determined to be disproportionately policed for marijuiana crimes. Additionally, a cannabis reinvestment fund will distribute tax revenue from the sale of cannabis to create scholarship programs for marginalized communities and no- interest business loans for social equity applicants.

• Lifestyle

by BLACK ENTERPRISE Editors

September 9, 2021

MTV and ViacomCBS Sign Overall Deal With David And Jessica Oyelowo And Their Production Company Yoruba Saxon

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ViacomCBS and MTV Entertainment Studios announced today an exclusive overall deal with the Emmy® nominated actor David Oyelowo and Jessica Oyelowo for original scripted and unscripted series through their production company Yoruba Saxon. 101 Studios will serve as a production partner on all projects.

Bass Reeves, a limited series that will bring the legendary lawman of the wild west to life, is the first in development for the new partnership. Reeves was known as the greatest frontier hero in American history and is also believed to be the inspiration for The Lone Ranger. Reeves worked in the post-Reconstruction era as a federal peace officer in the Indian Territory, capturing over 3,000 of the most dangerous criminals without ever being wounded. Oyelowo is attached to star as Reeves in the Taylor Sheridan-produced project.

“David and Jessica are incredibly talented artists and we’re excited to develop our Bass Reeves project together with them and our phenomenal partner Taylor Sheridan,” said Chris McCarthy, President, and CEO, MTV Entertainment Group.

“As the first Black deputy U.S. marshal west of the Mississippi River, Reeves’ story is monumental, and this limited series will bring to light one of the greatest frontier heroes in our country’s history.”

“The stories Jess and I want to tell are boundary-busting and full of folks the likes of whom we have seldom seen on screen. The extraordinary story of Bass Reeves exemplifies just that. To collaborate with world-class talent like Taylor Sheridan to tell those stories to the widest audience possible, is our dream, and we believe that can and will be realized through the shared ambitions we have with ViacomCBS and its signature branded platforms, alongside our seasoned and brilliant producing partners at 101 Studios,” said Oyelowo.

“We are thrilled to partner with David, Jessica and the entire team at Yoruba Saxon on this new endeavor and we are especially excited about our first project on Bass Reeves chronicling the legendary life of the west’s most feared lawman. We can’t wait to give audiences an exclusive look into his strength, perseverance and absolutely remarkable story through our joint venture with Yoruba and our friends at ViacomCBS,” said David Glasser, CEO of 101 Studios.

Bass Reeves will be executive produced by Yellowstone co-creator and Academy Award® nominee Taylor Sheridan, David Oyelowo, Jessica Oyelowo, David Permut, David C. Glasser, Ron Burkle and Bob Yari. MTV Entertainment Studios, Sheridan’s Bosque Ranch Productions, Oyelowo’s Yoruba Saxon, and 101 Studios will produce.

• Business

by Black Enterprise

September 9, 2021

Yum! Brands Appoints Pizza Hut Division Chief Executive Officer to Drive Global Brand Strategies and Growth

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On Thursday, Yum! Brands, Inc. announced that Aaron Powell, 50, former President of Kimberly-Clark Corporation’s Asia-Pacific Consumer Business, will join the Company as global Pizza Hut Division Chief Executive Officer, reporting to Yum! Chief Executive Officer David Gibbs, effective September 20.

In this role, Powell will assume global responsibility for driving Pizza Hut Division’s growth strategies, franchise operations, and performance. Today’s announcement concludes Yum! Brands’ search for Pizza Hut Division’s top leadership post.

“We couldn’t be happier to welcome Aaron to the Yum! Brands and Pizza Hut family and believe this global brand division leadership structure will enable the Pizza Hut U.S. and international teams to further implement best practices worldwide and continue their growth trajectory for franchisees and shareholders,” said Gibbs.

“Aaron brings more than 25 years of deep experience in the business-to-business and consumer packaged goods sectors and is known for driving break-through innovation and delivering strong performance for iconic household name brands operating in complex environments around the world.”

Gibbs continued, “We’re fortunate to have a global growth strategist of Aaron’s caliber join the accomplished Pizza Hut leadership team. We’re thankful for Kevin Hochman’s and Vipul Chawla’s excellent leadership that has strengthened Pizza Hut and look forward to Aaron, Kevin and Vipul partnering to lead the brand forward and deliver continued momentum in the U.S. and internationally.”

Kevin Hochman, President and Chief Concept Officer KFC U.S. and Interim President Pizza Hut U.S., and Vipul Chawla, President Pizza Hut International, will report to Powell. Under their leadership and in partnership with its best-in-class franchisees, Pizza Hut has delivered product innovation and sustained sales improvement and strong unit economics. In addition, Pizza Hut has continued investing in its off-premise channel in response to shifting consumer demand across the world.

Powell joins Pizza Hut from Kimberly-Clark, a global manufacturer and marketer of personal care, consumer tissue and other household products, after more than 14 years in a variety of global leadership roles across business-to-business and consumer operations with extensive experience in corporate strategy, M&A, sales, marketing, e-commerce and operations. Most recently, as President of Kimberly-Clark’s Asia-Pacific consumer business, Powell was responsible for the Company’s largest international region with operations in more than 30 countries, covering Australia, China, India and South Korea. Prior to that, he led the Kimberly-Clark Professional business globally, including a wide range of commercial products and services, led the Company’s consumer business in Europe, the Middle East and Africa, and served as Managing Director of its consumer business in Central and Eastern Europe.

Powell previously spent four years with Bain & Company, one of the world’s largest strategic management consulting firms, serving in its consumer practice, and eight years in sales leadership and brand management roles at Procter & Gamble. He holds an MBA from the Wharton School of Business at the University of Pennsylvania and a bachelor’s degree from Washington University. He currently serves on the Board of Directors for Sherwin-Williams.

“The chance to join an iconic, powerhouse global brand like Pizza Hut, combined with the backing of a world-class and culture-rich company like Yum! Brands, created an opportunity I knew I had to be a part of and simply couldn’t pass up,” said Powell. “I’m excited to work with Kevin and Vipul, and can’t wait to begin working alongside and building relationships with such a talented team of employees and franchisees around the world.”

The presidents of four HBCU schools came together Thursday to discuss the issues affecting HBCUs today at a roundtable event presented by FedEx.

The event, Reflect. Listen. Act.: A Conversation with HBCU Presidents was presented by FedEx and included the presidents of Tennesee State University (TSU), Jackson State University (JSU), Mississippi Valley State University (MVSU), and LeMoyne-Owen College. The roundtable was hosted by Chris Winton, the senior vice president of human resources for FedEx Ground.

Here are some of the highlights.

COVID and Mental Health

The first topic of the roundtable was the COVID-19 pandemic which has upended the academic world for both teachers and students. According to Winton, a study by the Health Minds Network found that depression among college students has increased since schools closed due to the virus.

MVSU President Dr. Jerryl Briggs Sr. discussed how the university is helping its students deal with the pandemic and mental health issues.

“The mental health issue is something that is not talked about enough and really doesn’t express the impact it had on our students,” Briggs said. “They’ve really had to adjust to understanding that life is different because of the pandemic. Life is different at home, life is different as far as how they took their classes. All that had a tremendous impact on their mental health, and I think all of us saw that in our students.”

Briggs added that the double-edged sword of the coronavirus and the drastic change in education had pushed MVSU to expand mental health services and counseling at the HBCU.

TSU President Dr. Glenda Baskin Glover agreed with Briggs and added that today it’s easier for people to ask for help without judgment.

“Many of us had to bring on additional counselors because we know COVID has had various effects on our students,” Glover said at the roundtable. “Fortunately, we live in an age now where it’s OK to say I have an issue, it’s OK to say I need to see a therapist. At one time, students hid behind the fact that there was some stigma in saying I need some assistance, but not we encourage students to come forward.”

Navigating The Financial Hardships Created By COVID

Winton asked each president how they’ve been able to make it through the financial hardships COVID has created and how each school is still pushing to give its students the tools and knowledge they were seeking.

LeMoyne-Owen College president Dr. Vernell Bennett-Fairs said one of the ways her HBCU has been able to keep moving forward is through partnerships the college has.

“We’ve had to become very strategic, we’ve had to create partnerships and collaborations across the campus and within the community,” Bennett-Fairs said. “We’ve also partnered with the city (Memphis) and with federal agencies. FedEx and other large corporations have also been very supportive. The gift from FedEx Cares is one that will impact us immediately and long term. The support system that their providing for our career services will impact our campus long after COVID-19 is gone.”

Briggs talked about the partnerships that MVSU has and what these partnerships mean to HBCU students and staff.

“I think the impact had been tremendous, because for one, overall, it shows that you care,” Briggs said. “You care about our institutions, and more importantly, you care about our students, and that is something that is valued. It’s allowing us to help our students who’ve had to navigate through some of those financial challenges, so those partnerships show support but also that you care about who we are and what we do.”

Social Unrest

In addition to the pandemic, last summer saw the resurgence of the Black Lives Matter movement. Those same HBCU presidents and faculty who marched in the 1960s got to see the next generation continue the fight for freedom and civil rights, and it meant a lot to them.

“Students started this movement years ago at the lunch counters; movements are led by students,” TSU President Dr. Glenda Baskin Glover said. “I think what’s special about this is about the role HBCUs play in this social unrest. It has solidified the need for HBCUs. It’s time to really sit down with HBCU leaders and talk and see what we can do from an HBCU standpoint to assist this community.”

JSU President Thomas Hudson added that this movement was different from the 1960s movement because it was seen across the country and the world.

“It was visual, which was the difference between what we’ve experienced over the last couple years versus maybe the last 20 or 30 years,” Hudson said. “Last summer was a visual reminder of where we are as a society. Our students were greatly affected by it, and you add in the pandemic, it was really important for our students to be a part of the movement that took place.”

The roundtable also discussed the partnership between the four HBCU schools and NASCAR, the future of HBCUs. The groups also discussed the new awareness around HBCU schools due to Black politicians, including Vice President Kamala Harris.

• Lifestyle

by Cedric 'BIG CED' Thornton

September 9, 2021

Bill Cosby Places Comedy Tour On Hold Until Sexual Assault Lawsuit Is Done

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A comedy tour that Bill Cosby, who was recently released from prison, was in the midst of planning, has been placed on hold for the time being. There is a pending court case against the comedian that must be handled first.

TMZ reported that Andrew Wyatt, who represents the legendary entertainer, stated that Cosby’s comedy tour has been shelved momentarily. The planning of the tour has been placed on hold because of his upcoming court date in California.

Cosby is currently facing a civil lawsuit that has been brought by Judy Huth in Los Angeles Superior Court. She alleged that he sexually assaulted her at the Playboy Mansion in 1974. The comedian plans to invoke the Fifth Amendment in that civil case. A trial date has been set for Spring 2022.

• Business

by Alexa Imani Spencer

September 9, 2021

Issa Rae Hopes To Inspire Black-Owned Businesses To Certify Through ‘ByBlack’ Initiative

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Issa Rae is supporting Black-owned businesses in certifying their brands through a new program launched by American Express and the U.S. Black Chambers, Inc. (USBC).

On Wednesday, the companies announced their first national certification program—exclusively for Black-owned businesses—as part of their ByBlack initiative.

The program was first curated as a directory for Black-owned businesses and has now transformed into a “no-cost, digital platform” aimed to “unlock more ways to reach new customers and secure contracts for Black-owned businesses across the country,” according to a press release.

According to American Express’ Small Summer Study, “44% of consumers seek out Black-owned businesses, and 55% say they would be likely to use an official, easy-to-access digital database that certifies a business as being Black-owned,” the press release stated.

Rae recently certified Sienna Naturals, a natural haircare business she co-owns with Hannah Diop. The actress and entrepreneur hopes to reach more customers and engage other Black business owners to do the same.

“We have only scratched the surface of the collective power of Black businesses, so I am excited to join American Express and the USBC to shine a light on the opportunities ByBlack presents,” Rae said in the release. “ByBlack is a powerful platform that connects Black business owners with new revenue streams and helps all of us find and shop at standout businesses. Together we can spread the word to support small Black businesses.”

USBC’s president, Ron Busby, noted that Black businesses account for billions in revenue and have room to gain more capital.

“The Black business community generates more than $150 billion in revenue but has even larger potential. Working with American Express, we are continuing to expand ByBlack across the U.S. to help further propel the growth of Black-owned businesses by creating unparalleled access, visibility, and opportunities.”

American Express has committed to “providing access to capital and financial education to at least 250,000 Black-owned small and medium-sized businesses in the U.S. by the end of 2024″ as part of their $1 billion action plan to “enhance diverse representation and promote equal opportunities.”

Uber and Verizon are among companies that have recognized the Black certification program, according to Essence.

To apply for the certification program, applicants must provide proof of identification and proof that their business is 51% Black-owned and controlled by a Black business owner.

The Carters have teamed up with Tiffany & Co and Beyonce’s BeyGood organization to pledge $2 million dollars in scholarships to five small private and select state Historically Black Colleges and Universities (HBCUs).

According to the announcement by the Shawn Carter Scholarship Foundation, the About Love Scholarship funds will be given to students at Lincoln University of PA in Pennsylvania, Norfolk State University in Virginia, Bennett College in North Carolina, University of Arkansas at Pine Bluff in Arkansas, and Central State University in Ohio.

Steph and Ayesha Curry took their love for The Magic School Bus to new heights with their latest entrepreneurial endeavor.

The NBA champion is supporting his wife, and her Eat. Learn. Play. bus that debuted at an elementary school in Oakland on Wednesday, NBC News reports. Ayesha uses the vibrant hot pink, pale blue, and yellowish-gold school bus to attract children and entertain them with healthy food and good books.

“It’s not the teacher’s fault. It’s not the parents’ fault. It’s a community issue,” Ayesha said.

Her new educational venture targets Black children and other youths of color in some of Oakland’s most underserved communities and energizes them with food, education, and attention.

“This idea came basically from me wanting to find a way to eradicate food deserts within the Oakland area,” Ayesha Curry said. “At first, the idea was around, ‘How can we find locations where people can come and pick up fresh produce and other things for their families?’ Logistically, especially with Covid, that idea started to seem far-fetched.”

The multifaceted bus comes decked out to provide two different experiences for children. One side serves as a food truck serving hot food and fresh produce to children and families, while the other side is a mobile library to address Oakland’s struggling literacy rate. A study from aCoach.org found that Black children in Oakland are four times more likely to read multiple years below their grade level than white students.

“Let’s get together, give this model a try and see if we can create some excitement around reading,” Ayesha said, “If we can all join together and try to fix the issue together and turn these numbers around, then I think we’re doing something right.”

Steph Curry is right alongside his wife, cheering on her newest business endeavor after the “bittersweet” decision to relocate the Golden State Warriors from Oakland to San Francisco.

“Oakland has been our adopted home,” he said. “There’s so much talent and promise in Oakland, but not as much opportunity. And that’s something that we have to strive to address, with this bus as just the latest rendition of doing that.”