Archive for May, 2008

Hispanic-Americans Are Heaviest Media Users (eMarketer)

Monday, May 19th, 2008

In February 2008 the average Hispanic-American over the age of 11 spent more time online than watching television, according to the Terra Networks-sponsored “Hispanic Syndicated Study,” conducted by comScore Media Metrix.

“In general, online Hispanics—independent of their language preferences and acculturation levels—are heavily engaged in technology,” wrote the report’s authors.

Every day, more than half (56%) of Hispanic-Americans surveyed said they spent at least an hour online, which was slightly more than the 50% who spent an hour or more watching TV.

On a weekly basis, Terra reported that more Hispanic-American Internet users spent 13 or more hours online (30%) than watched TV for the same amount of time (23%).

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USDA Is Called Lax on Bias (Washington Post)

Monday, May 19th, 2008

Nearly a decade after the Agriculture Department agreed to settle a discrimination suit brought by black farmers, one of the largest payouts in U.S. history at almost $1 billion so far, the department has yet to develop a system to adequately address hundreds of other bias complaints from farmers and its own employees, the Government Accountability Office said this week.

In blunt testimony before a House subcommittee this week, Lisa Shames, director of natural resources and environment for the GAO, said the department cannot prove that it has reduced its mountainous backlog of discrimination complaints and that its claims to the contrary cannot be trusted.

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Racial Inequity and Drug Arrests (NY Times)

Tuesday, May 13th, 2008

The United States prison system keeps marking shameful milestones. In late February, the Pew Center on the States released a report showing that more than 1 in 100 American adults are presently behind bars — an astonishingly high rate of incarceration notably skewed along racial lines. One in nine black men aged 20 to 34 are serving time, as are 1 in 36 adult Hispanic men.

Now, two new reports, by The Sentencing Project and Human Rights Watch, have turned a critical spotlight on law enforcement’s overwhelming focus on drug use in low-income urban areas. These reports show large disparities in the rate at which blacks and whites are arrested and imprisoned for drug offenses, despite roughly equal rates of illegal drug use.

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Funds industry criticized for lack of diversity (Reuters)

Tuesday, May 13th, 2008

The U.S. mutual fund industry is doing little to increase diversity and hire more minority workers, a senior executive at boutique investment firm Ariel Investments said this week.“The fund industry has to make a real commitment, not lip service, to diversity. And really go out of our way to find people of color to work in our organizations,” Ariel president Mellody Hobson told Reuters in an interview on Thursday.

Ariel has long championed the cause of spreading financial literacy in the African-American community. Founder John Rogers is helping raise support and funds for Barack Obama.

“Name any well-known black portfolio manager besides John Rogers,” Hobson said on the sidelines of the annual Investment Company Institute (ICI) conference. “And, to our knowledge, I am the only black woman chair of a mutual fund board. That’s not progress,” she said. Hobson chairs the board of trustees of Ariel’s mutual funds.

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Clinton’s “White Americans” Comments Still Being Denounced Extensively (Moderate Voice)

Monday, May 12th, 2008

Senator Barack Obama got mired in the controversy over his former pastor. Senator Hillary Clinton got bogged down on her comments about dodging dangerous fire in Bosnia. And both of them took political hits that lasted a while and did some damage.
Now, Clinton is clearly — and truly — bogged down in her comments about white voters liking her more than Obama, even though her aides now insist that she regrets the comments.

The damage to Clinton’s image seems profound. And what better evidence of THAT then the once-unimaginable development that one of her most ardent African-American supporters Rep. Charles Rangle would bluntly denounce her remark?

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Report: War on drugs targets minorities (UPI)

Monday, May 12th, 2008

The so-called war on drugs in the United States disproportionately targets racial minorities in urban neighborhoods, two reports said Tuesday.

Human Rights Watch and the judicial equality advocacy group The Sentencing Project announced the release of two reports Tuesday on drug-related arrests saying the so-called war on drugs “disproportionately targets urban minority neighborhoods.”

The Human Rights Watch report, “Targeting Blacks: Drug Law Enforcement and Race in the United States,” outlines statistics in 34 states saying more black offenders serve prison sentences than white offenders.

The report says the average across those 34 states found black men are 11.8 times more likely to serve time in prison than white men and black women are 4.8 times as likely to be sent to jail than white women.

Full story… 

Hispanic Americans Have Self-Reliant Approach to Retirement (Planadvisor)

Monday, May 12th, 2008

Although Hispanic Americans are saving for retirement, more than two-thirds do not use a financial adviser, a study by Prudential found.

Even Hispanic Americans with income over $50,000 typically do not have a professional advising relationship; only 35% report having a professional adviser, says the “Hispanic Americans on the Road to Retirement” report.

Those that do work with an adviser have a higher tendency to contribute to a retirement savings account (85% versus 54% of those without an adviser).

The number with advisers is lower in non-English-speaking households (12%) compared with English-speaking households (34%). Among Hispanic Americans that have an adviser, many choose a family member or friend (professional or nonprofessional). The study suggests that this could mean Hispanic Americans prefer fellow Hispanic Americans to advise them financially.

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