Dr. Boyce Watkins Critiques the NCAA

by Dr. Boyce Watkins 

I was invited this week to speak to the Stanford University NAACP about whether or not college athletes should be paid.  When I am asked whether I think college athletes should be compensated for their labor, I simply respond to the question with another question:  “Why shouldn’t they get paid?  Did they not earn the money?  Is someone else earning money from their labor? Is the labor of the athlete essential to the revenue-generating process?”  Answers to these questions help us to understand how insane it is that athletes earn billions of dollars for coaches, but aren’t entitled to any of that money for themselves.  I’ve seen race horses get better deals than that.

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Your Black News: Marc Lamont Hill Talks Michael Steele and Rush Limbaugh

by Dr. Marc Lamont Hill

Columbia University

Over the past week, the political world has been tuned into a highly  unusual soap opera involving Republican Committee Chair Michael Steele  and conservative radio jock Rush Limbaugh. After Limbaugh was publicly  lambasted for stating that he wanted President Obama’s agenda to fail,  Democratic leaders wisely used the moment as an opportunity to anoint  the polarizing pundit as the de facto leader of the GOP. Steele, the  actual leader of the party, dismissed Limbaugh as a mere “entertainer”  whose show trades in “ugly” and “incendiary” remarks. Limbaugh soon  fired back, telling Steele to do his job and to stop acting like a  “talking head media star.”

Of course, partisan infighting is not uncommon in politics –though  such public spats are typically the property of the Democrats.  The  difference, however, has been the party’s response. Instead of  rallying around its newly appointed leader Steele, GOP honchos have  either taken the side of Rush Limbaugh or remained conspicuously silent. Even Steele himself caved into Limbaugh, apologizing for his  remarks and removing any lingering doubt about who the real don is.
By allowing Michael Steele to be publicly undressed by a party  extremist, Republicans have tacitly confirmed what many of us already  knew: they haven’t changed one bit. Despite their post-November promises to rise above bitter partisanship, the GOP decided to cosign  Limbaugh’s antipatriotic machinations. Instead of living up to their  promise to broaden their message and appeal, Republicans have instead opted to defer to the steward of its most vile, ignorant, and bigoted  constituency. Most disturbingly, they have legitimized their antidemocratic enterprise by hiring a black man,  but giving him no more political muscle than the queen of England.

To be clear, I am not trying to diss Michael Steele, who I know personally and like a great deal despite our political differences. My concern is that the seductive aroma of power and prestige have  diverted his attention from the harsh realities of his circumstance. 
Like many prominent African Americans, Steele has climbed the heights  of white society under the false premise that he is being judged purely on merit rather than color. This couldn’t be further from the  truth. While the Republican party is willing to use Steele’s black  face to celebrate its ostensible progress, it is equally committed to  reducing him to nothing more than a paper champion. Hopefully, Brother  Steele will stop drinking the Kool-Aid long enough to recognize this  and come back home.

Technorati Tags: marc lamont hill,michael steele

Your Black News: Barack Obama's Brother Arrested in Kenya

George Obama, the half-brother of U.S. President Barack Obama, has been arrested by Kenyan police on a charge of possession of marijuana, police said Saturday.

George Obama was arrested in Kenya on a charge for possession of marijuana, according to police.

Inspector Augustine Mutembei, the officer in charge, said Obama was arrested on charges of possession of cannabis, known in Kenya as Bhang, and resisting arrest. He is scheduled to appear in court Monday, Mutembei said.

He is being held at Huruma police post in the capital of Nairobi.

Speaking from behind bars, Obama denied the allegations.

"They took me from my home," he said, "I don't know why they are charging me."

George Obama and the president barely know each other, though they have met. George Obama was one of the president's few close relatives who did not go to the inauguration in Washington last week.

In his memoir, "Dreams from My Father," Barack Obama describes meeting George as a "painful affair." Barack Obama's trip to Kenya meant meeting family he had never known.

Don't Miss

• Behind the Scenes: Meet George Obama

McKenzie tracked down George Obama in August and found him at a small house in Huruma, a Nairobi slum, where he lives with his mother's extended family. His birth certificate shows that he is Barack Obama's half-brother.

The two men share a Kenyan father. In the memoir, Barack Obama struggles to reconcile with his father after he left him and his mother when he was just a child.

Barack Obama Sr. died in a car accident when George was just 6 months old. Like his half-brother, George hardly knew his father.

 

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Technorati Tags: george obama,barack obama,african americans,kenya

"Black News: Dr Boyce Watkins Explains Credit Reports"

By Dr. Boyce Watkins
http://www.drboycefinance.com/

Where do Credit Scores come from?

Unlike babies, credit scores do not come from a financial stork. There are 3 major credit bureaus in the United States: Experian, Trans Union and Equifax. Companies subscribe to their services to obtain information about you to decide if you are credit worthy or not. Under the old system, the credit scores ranged from 375 to 900. Under the new VantageScore system, they range from 501 to 990. The new system is more consistent among various credit bureaus, so you don’t end up with scores that go all over the place.

How can I get a copy of my report?

I personally go to a site called Myfico.com, where you can order reports from all 3 bureaus or just one. You can also go to freecreditreport.com (you know, the site with the really funny commercials). The law says that you are entitled to at least one free credit report every year. Also, if you are denied credit for any reason, you can write the bureaus, sending along a copy of the rejection letter, and request a copy of your credit report. If you choose to pay for your report, it will likely cost you about $8 dollars.


What factors go into calculating a credit score?

The factors that go into calculating a credit score are a little vague and it’s protected like the recipe for KFC chicken. While the formula is well-guarded, we do have some guidelines on what factors are theoretically used to determine whether or not someone should loan money to you.

The factors are broken into what they call “The Four C’s of Credit”: Character, collateral, capacity, capital and conditions.

Character is their way of trying to decide if you are a good person or not. I don’t agree with this, since having bad credit does not make you a bad person. It just makes you a person who does not have a good track record when it comes to borrowing money.

Capacity is represented mostly by your income level and how much money you’re expected to earn in the future.

Capital is noted by the amount of cash you have in reserves and other liquid assets at your disposal. If you have capital, that means you can withstand a short-term decline in income and still make payments.

Conditions are reflected by the environment in which you live. It might include the state of the economy, your line of work and other external factors that might impact your credit report. For example, during the liquidity crisis in America, conditions for lending are very, very bad.

Now you know where credit scores come from. You probably have more questions, since there is a lot of ground to cover. To get more information, please feel free to learn along with me and my students by visiting http://www.drboycefinance.com/.

Dr. Boyce Watkins is a Finance Professor at Syracuse University. He does regular commentary in national media, including CNN, ESPN, BET and CBS. For more information, please visit www.BoyceWatkins.com