Sunday, May 23, 2010

Black News in Black America - 5/23/10

Naomi Campbell Facing Subpoena Over Blood Diamond: Top Links

By Alexis Stodghill on May 21st 2010 1:48PM
Filed under: Celebrity News, News

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Naomi Campbell Facing Subpoena for Blood Diamond Fracas
Naomi Campbell, who has recently come under fire for allegedly accepting blood diamonds from warlord Charles Taylor, will be compelled to testify about said gems, if prosecutors in the Hague have their way. [Jezebel]
Elin Nordegren Divorce Demands Reach $750 Million
Elin Nordegren has dramatically escalated her demands during negotiations over a possible divorce agreement with Tiger Woods, Bill Zwecker of the Chicago Sun-Times reports. According to the columnist, Woods' wife is seeking full custody of the couple's children and "an estimated $750 million package." [The Huffington Post]
Big Pimpin' Baby... Jay-Z's Breakfast Of Champions
Jay-Z started his day recently by breaking bread with billionaires. See photos of Hov at a breakfast meeting with New York City Mayor Michael Bloomberg, developer Bruce Ratner and New Jersey Nets majority owner Mikhail Prokhorov at Gracie Mansion. [Bossip]
Bo Obama is Worth $1,600
Barack Obama made up to $7.7 million last year, with one asset in particular worth $1,600 – the family dog, Bo. [Daily Telegraph]

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Tagged as: bo, Elin Nordegren, ElinNordegren, fences, Jay-Z, Michael Bloomberg,MichaelBloomberg, Naomi Campbell, NaomiCampbell, Tiger Woods, TigerWoods

The Inventor of the ATM Dies at 84

By Lynnette Khalfani-Cox on May 21st 2010 1:13PM
Filed under: Professional Profiles, Careers, News, Banking, Lynnette Khalfani-Cox

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If you're like me, you use an ATM at least once a month, maybe more. But how many of you have ever given a moment's thought to how automatic teller machines came into being or who created them? I'll admit, I never thought about it either -- at least not until I read this brief AP article about the death of its inventor.
The man who dreamed up the cash machine was a Scotsman named John Shepherd-Barron. He passed away earlier this week after a short illness at a hospital in north Scotland. Back in 2007, Shepherd-Barron gave an interview to the BBC in which he described what inspired his invention. It was basic enough: He first got the notion to develop the ATM after being locked out of his bank.
Later, the first ATM was installed in London on June 27, 1967, at a Barclays PlC branch. Today, there are more than 1.7 million automatic teller machines worldwide, according to the ATM Industry Association.

Continue reading The Inventor of the ATM Dies at 84

Tagged as: ATM, entrepreneurship, invention, JohnShepherd-Barron

The Best Places to Find Grants, Loans and Financing for Entrepreneurs

By Lynnette Khalfani-Cox on May 21st 2010 12:11PM
Filed under: Careers, Financial Aid, Free, Education, Lynnette Khalfani-Cox

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The best resource to find grants, loans and financing for entrepreneurs is the federal government's website There, you will discover a wealth of resources for all kinds of small business owners, including:
* Those just starting a business
* Current entrepreneurs trying to grow their operations
* Women
* Minorities
* People with disabilities
* Those in rural communities
* Home-based business owners
* Members of the military
* Individuals seeking government contracts, and more
For Minority-Owned Businesses
For example, here is a link to the section of the website that offers help for minorities who are launching a business, or trying to expand

Continue reading The Best Places to Find Grants, Loans and Financing for Entrepreneurs

Tagged as: entrepreneurship, governmentresources, grants, smallbusinessloans

5 Easy Steps to Figuring Out Your Debt-to-Income Ratio

By Lynnette Khalfani-Cox on May 21st 2010 11:29AM
Filed under: Personal Finance, Housing, Mortgage, Lynnette Khalfani-Cox

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Are you interested in knowing your debt-to-income ratio to determine how much house you can afford? You don't need to go to a bank to do this. You can do it on your own by following five easy steps. But first you need to know a bit of mortgage lingo to understand how lenders look at your debts when they evaluate your qualifications for a mortgage.
Front-End and Back-End Ratios Explained
Let's say your car payment is $285 a month, your credit card bills are $220 a month, and you pay $95 a month on your student loans. Therefore, your total monthly debts are $600. If your total income is $3,200 monthly, then your debt-to-income ratio is 18.75 percent ($600 divided by $3,200). This obviously excludes your housing costs. When you find a home you want to purchase, a lender will look closely at two things:
• Your housing debt compared to your income
Your housing expense is known as your "front-end" ratio.
• Your overall debt compared to your income
Your total debt, housing plus other bills, is known as your "back-end" ratio.

Continue reading 5 Easy Steps to Figuring Out Your Debt-to-Income Ratio

Tagged as: back-end ratio, Back-endRatio,, debt-to-incomeratio,front-end ratio, Front-endRatio, mortgage

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