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The Latest in Dr. Boyce Money - 1/4/10 PDF Print E-mail
Monday, 04 January 2010 23:01
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Dr. Boyce Money: Do Entrepreneurs Need an MBA? Probably Not

I am going to say some things that will take money out of the pockets of people like myself. But ...

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Dr. Boyce Money on AOL Black Voices - 11/24/09 PDF Print E-mail
Wednesday, 25 November 2009 02:29



 
Black Money Advice on AOL - 8/21/09 PDF Print E-mail
Friday, 21 August 2009 22:42
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Dr Boyce: How Companies Make Money off Prisoners

Dr. Byron Price is a black scholar with a mission. His book, 'Merchandizing Prisoners' opens the ...

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Last Updated on Friday, 21 August 2009 22:46
 
Dr Boyce on AOL Black Voices PDF Print E-mail
Monday, 29 June 2009 13:38

 
The Latest from Dr Boyce on AOL PDF Print E-mail
Monday, 08 June 2009 11:59
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What's Wrong with Hip Hop? Check the Paper Trail

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Dr Boyce and DJ Free (Ed Lover Show) Talk Financial Fitness

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Dr Boyce: Black Scholars Are Not Realizing Their Potential

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Halle Berry and Jamie Foxx: What's the Financial Value of a Kiss?

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Dr Boyce: Should Black Pastors Stay inside the Church?

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Dr Boyce: Eminem's Hip Hop Humiliation - The Impact on Eminem's Brand

 
The Obama Credit Card Legislation: What Black people Should Know PDF Print E-mail
Sunday, 31 May 2009 20:19

Click the image below to hear what Dr. Boyce Watkins has to say about the new credit card legislation signed by President Barack Obama:

 

Last Updated on Sunday, 31 May 2009 20:32
 
Black Women to lead Fortune 500 Company PDF Print E-mail
Wednesday, 27 May 2009 15:08

Dr Boyce Money: First Black Female to Run Fortune 500 Company

The stock market talks with money: it tells you what it thinks about corporate decisions by how the stock price moves. If the price goes up, the market likes you. If it goes down, investors are angry. The market likes Ursula Burns. Ursula's appointment as CEO of the Xerox Corporation led to a 2.2% one day increase in the company's stock price and applause from Xerox shareholders around the world. In addition to inspiring the market, Burns has energized an army of black women and men by becoming the first black female to ever take the reigns of a Fortune 500 company.

With the recent announcement that Burns will take over Xerox on July 1, the company has surpassed a milestone for black women that is long overdue. Even without regard to all the Xerox copies that will be made during her time as CEO, Burns will surely be creating copy cats of her own within the black communty. Young women everywhere are inspired by Burns' achievements, and she is now a part of history. But what does the promotion of Burns say about the state of black women in corporate America? Have we hit the finish line?

"This occassion is unequivocally, a cause for celebration," says Dr. Kendra Harris, Assistant Professor of Marketing at North Carolina Central University. "That said, this kind of 'first' nearly a decade into the 21st century is a sad testimony to systemic lack of awareness of the talent among the ranks of minority women."


 
The Latest Dr. Boyce Financial Commentary PDF Print E-mail
Thursday, 21 May 2009 04:40

Financial Lovemaking with Dr. Boyce: Is Irv Gotti's Way the Right Way?

Hip-hop "mogul" Irv Gotti has gotten tremendous criticism for mistreating his estranged wife, Deb. Let's be real, Irv is mean and appears to be highly inconsiderate. He cheats on Deb openly, disrespects her and doesn't seem to care if she stays or goes.

"Irv Gotti treats his wife worse than an abandoned dog in a pound," says black celebrity gossip columnist, Lady Drama. "Any man who treats his wife like that should walk through hell with gasoline soaked pants."

But while Irv does his thing and does it wherever and with whomever he likes, his wife may not necessarily be an innocent victim. She has the opportunity to leave him and be with another man. She can draw boundaries on the relationship and not deal with his behavior. But she does not. Why is that?

In this episode of Financial Lovemaking with Dr. Boyce, we talk about Gotti and what he and his wife can do to make things right. We also answer some critical and important questions.



Your Money with Dr. Boyce: Michael Vick's Lessons on Money

God bless Michael Vick. The man finally gets to go home, after spending 21 months in prison for the whole dogfighting situation. I was sickened by what happened to Vick for many reasons, starting with the fact that I think Michael was incredibly stupid for doing what he did. There, I said it.

Now that we all agree that killing dogs is a bad thing, let's get to the real deal. First, there are hundreds of thousands of Americans who go out and kill animals every year. So, the idea that this man was a monster for what he did is a bit overboard. Yes, killing Fluffy or Fido is certainly tougher to stomach than shooting Bambi in the woods, but the truth is that most of us are hypocritical for portraying Vick as a monster. Secondly, the idea that this man should lose his entire career because of a silly mistake he made at the age of 27 is ridiculous. So, I want to give a shout-out to my respected homeboy Roland Martin for supporting Michael Vick's right to make a living.

I wanted to chime in on the financial side of the Vick case and share 5 things that I personally learned from the Michael Vick situation. I busted my butt trying to defend Michael Vick on CNN, so I figured that I may as well take this full circle by ensuring that we all learn from his silly behavior. Our most valuable lessons usually come from our most costly mistakes, so with all that he has learned, Michael Vick should be a professor by now.

1) You never have an endless supply of money, even when you think you do. Do you remember when you got your first job and would get that $150 dollar check? Didn't it make you feel powerful, as if the money would last forever?



Bottom Line with Dr. Boyce: Morehouse Men or Morehouse Money?

In the intro to one of his songs, the rapper and former gang member Snoop Dogg(replicating a scene from the 1973 film 'The Mack') says to another man in a nightclub, "We can settle this like some gentlemen or we can get into some ol' gangsta sh*t." While one might expect such a conversation to occur between two gang members, one would not expect to see this exchange between two men fromMorehouse College, arguably the most prestigious Historically Black College in America.

But that is one summary of how things went down on that strange October night. Joshua Brandon Norris attended a Halloween Party in 2007 and was kicked out of the party for causing trouble. A few minutes later, everyone ducked for cover when they heard gunshots. The shooting victim, Frank Rashad Johnson, said that he got into an altercation with Norris, and that Norris rolled up a few minutes later in a Hummer and put a gun to Johnson's head. Johnson then grabbed Norris by the arm and that is when the shooting started. Although he did not kill the victim, Norris shot Johnson three times. Yes, two Morehouse men getting "into some ol' gangsta sh*t". Wow.

The only thing crazier than the story is how it was resolved. Norris, the shooter, faced one count of aggravated assault with a deadly weapon and a second count for possession of a firearm in the commission of a felony. The prosecutor, who may have lacked necessary supervision, really put the hammer on Norris: six years probation, a $1,000 fine and 240 hours of community service. Oh by the way, he was also allowed back into Morehouse College to graduate with the rest of his 2009 class this past weekend after serving no jail time. I have to do a Gary Coleman on this one and ask,"Whatchoo talking 'bout Morehouse?"



 
Oprah's Not as Rich as you think PDF Print E-mail
Saturday, 16 May 2009 02:41

Forbes Magazine recently released its list of the wealthiest Black Americans.Oprah Winfrey was number one, which isn't a surprise. Oprah has obtained a level of power and wealth that makes the breath leave your body. (Did Oprah actually cause sit-ins at KFC? Who does a sit-in over chicken?) She is well ahead the second person on the list, Tiger Woods, whose wealth is measured at roughly $600 million. It's nice that Forbes has created a list for black Americans, since it gives insight into African American achievements without having them dwarfed by the massive wealth of white Americans. Let's remember that other Americans had a 400 year head start, as black families were not allowed to pass wealth onto their children for many centuries.

Some say that your present tells the story of your past. Where you are is not always as important as the path you took to get there, which provides insights into the paths you will travel in the future. The list is interesting for a few other reasons, which I will state below:

1) Oprah is actually not all that rich, relatively speaking that is. If you compare Oprah's $2.7 Billion to the leader of the overall list of billionaires, Bill Gates, you will find that his $40 Billion dollar stash is far greater than Oprah's. In fact, Bill Gates could spend over $10 million dollars a day for the next 10 years and still have $10 Billion dollars more than Oprah. Another way to conceptualize the massive wealth difference is to note that Bill Gates usually earns more in INTEREST each year than Oprah has in her entire fortune. This is not to say that Oprah's achievements are not noteworthy. In fact, she is a more accomplished human being than Gates. These facts simply serve as a glowing reminder that African Americans have been left out of the wealth building pool for hundreds of years, and that these disparities show themselves in modern day economic inequalities. Some see Gates as a self-made Billionaire, but the truth is that if he were black, chances are that he would not have had a prominent lawyer for a father and a mother who served on powerful corporate boards, all of which opened doors for him that are not typically opened for black youth. Oprah Winfrey was far more self-made than Gates.


Last Updated on Saturday, 16 May 2009 02:45
 
Hanging out with Jay Z in Nigeria PDF Print E-mail
Wednesday, 06 May 2009 10:20

Dr. Boyce Watkins
I just returned from an awesome speaking event in Lagos, Nigeria. Pastor Pujo Oyemade, a visionary leader in the Nigerian community, created a semi-annual event called “The Platform”, which is one of the most respected economic empowerment venues in the country. The Pastor invited me and some other business leaders to discuss the entrepreneurial spirit and how it can be best used to unleash the awesome potential of the Nigerian economy.

The event organizers met us with Barack Obama-like security, complete with serious looking brothers with dark suits and even darker sunglasses. I felt completely safe in a country that has been falsely presented to the world as a haven of danger. Nigeria is not nearly as scary as the media depicts it: like any other nation, there is both good and bad. Unfortunately, the bad has gotten more attention than it deserves.

I arrived in my hotel, a swank and comfortable spot right on the beach, ready to sleep off the jet lag. I was ready to take a nap in the hallway if necessary, since I was as tired as you can get. I crawled toward my bed with my last ounce of energy, shocked at who would be greeting me in my room: It was Jay-Z.
Well, it wasn’t the real Jay-Z, just his face on the cover of a magazine. Here I thought I’d escaped the Jiggaman by heading across the world, and there he was, diamonds blinding me with his undeniable floss. The megastar “bling-aholic” was being featured in a Nigerian magazine promoting the very same thing I was there to discuss: the power of entrepreneurship.
I respect Pastor Oyemade, the organizer of the event, for the same reasons I respect Jay-Z: they have both learned that Black men and women are strongest when we are economically free. I am not always in favor of everything that the Jiggaman does, but I certainly appreciate the progress he has shown throughout his career. He makes megadeals behind the scenes that will ensure that he is getting paid well into old age. When I addressed my audience in Nigeria, I talked to them about a few things:

1) The value of ownership – it’s difficult to get wealthy in America if you don’t own anything. I know a lot of doctors, lawyers and professors with high incomes who still have not yet learned how to let their money work for them.
2) Entrepreneurship should be taught to our children – every Black child in the world should be taught how to create a job, not just how to go out and get one.
3) Start your business around your passion – if you love what you are doing every day, you will get a paycheck even when you don’t make any money.
I didn’t just go to Nigeria to teach, I also went there to learn. I learned a long time ago that you can never be a good teacher if you are not also a good student. So, here are some things I learned from our Nigerian brothers and sisters across the sea:
1) We are really blessed as Americans. While we might feel that we don’t have as much as we deserve, we’ve actually got quite a bit to work with.
2) You can overcome a great deal if you put your mind to it. There are people in other parts of the world who endure things on a daily basis that we can’t possibly imagine.
3) The best investment opportunities are now in Africa. A smart investor with solid, honest contacts can make more money in Nigeria than they could almost anywhere else. Africa is the next China.
I enjoyed my trip to Nigeria, but I was as much student as professor. I learned from Jay-Z and his success in hip hop, and I also learned from my Nigerian family. All in all, I can say that this trip helped complete me as an investor, a professor, a Black man and a human being. I look forward to my next trip already.
Last Updated on Wednesday, 06 May 2009 11:47
 
Nas and Kelis Divorce: What are the implications? PDF Print E-mail
Wednesday, 06 May 2009 10:19

In this episode of Financial Lovemaking with Dr. Boyce, Dr. Boyce and S. Tia Brown break down the divorce between Nas and Kelis and the financial consequences of their choices. Can Nas afford to pay celebrity-level child support for two kids? How is Kelis going to make money once the divorce is over? Does it matter that Kelis is pregnant?

The hosts explore the implications for all couples and whether or not infidelity is more acceptable when men do it. Click on the image to listen to the latest exciting episode!

Last Updated on Wednesday, 06 May 2009 10:20