Archive for the ‘Business’ Category

Asian American consumers: Nearing $1 trillion in buying power

Monday, November 26th, 2012

 

(Los Angeles Times) Some staggering new figures about Asian American consumers are out this month: Their buying power is up 523% since 1990, reaching $718.4 billion this year. If the demographic were a nation, it’d be the 18th-largest economy in the world.

Within five years, Asian American buying power will surge over $1 trillion, according to a report this month from Nielsen. At the moment, 28% of households in the group have annual incomes greater than $100,000, compared with 18% of all Americans.

They shop more often than their white counterparts but are less likely to use shopping lists or coupons, meaning that they’re more likely to be influenced by the product assortment, signage and deals in stores.

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Study Finds Latinos Are Least Likely To Have Paid Leave

Saturday, November 24th, 2012

 

(Think Progress) The United States doesn’t have a stellar record on paid employee leave. Indeed, it is one of the few developed countries that has no paid maternity leave requirement. But a new study by the Center for American Progress finds that Latino employees in particular are the least likely to have paid leave or workplace flexibility of any sort.

Latinos tend to be in lower-wage jobs where fewer benefits are offered, thanks in part to institutionalized racism and in part to the economics of new immigrant labor. Because of the low quality of jobs for many Latinos, fewer than 40 percent report having flexible hours — the ability to shift work schedules based on outside obligations. Only 38.4 percent of Latinos have any paid sick leave, and just about a quarter of Latino employees (25.1 percent) have paid parental leave, lower than any other racial group:

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Blacks Own Just 10 of 1,348 TV Stations

Tuesday, November 20th, 2012

 

(The Root) " Bill O'Reilly  can breathe a little easier.

"Last week while speaking about the reelection of  President Obama , the Fox News commentator said, "The white establishment is now the minority," " Joe Flint wrote Wednesday for the  Los Angeles Times .

"But when it comes to who owns the nation's TV and radio stations, whites – and white males in particular – are still the majority.

"The  Federal Communications Commission  just released its report on the ownership of commercial broadcast stations which reveals that as of 2011, whites own 69.4% of the nation's 1,348 television stations. That's up from 63.4% in 2009, when there were 1,187 stations.

"While white ownership increased, most minority ownership decreased. Blacks went from owning 1% of all commercial TV stations in 2009 to just 0.7% in 2011. Asian ownership slipped from 0.8% in 2009 to 0.5% last year. Latino ownership increased slightly from 2.5% to 2.9%.

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African American churches protest foreclosures by black-run bank

Monday, November 5th, 2012

(Los Angeles Times) A coalition of African American ministers is protesting foreclosures on their churches — byBroadway Federal Bank, a savings bank established in the 1940s to serve Los Angeles' then-segregated black community.

About one-quarter of the money Broadway Federal has lent out has been for mortgages on church properties. In the tough economy, it's become a problematic business for the bank, which regulators have categorized as troubled since 2010.

The bank's annual report for 2011 with the Securities and Exchange Commission said regulators have barred it from making additional church loans. Broadway Federal, which continues to be run by African Americans, said its problems "raise substantial doubt about the company's ability to continue as a going concern."

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Bank of America accused of neglecting foreclosed homes in minority neighborhoods

Friday, October 26th, 2012

 

(IndyStar) Fair housing advocates accuse one of the nation’s largest banks of discriminating against black and Latino neighborhoods in how it maintains and markets foreclosed homes.

A coalition of fair housing agencies, including the Fair Housing Center of Central Indiana, made the allegations Tuesday in a complaint with the U.S. Department of Housing and Urban Development.

The coalition said it evaluated homes owned, serviced or held in trust by Bank of America in three Midwestern cities, including Indianapolis. The group said it found significant disparities in how houses in predominately non-white neighborhoods were maintained and marketed compared with houses in mostly white neighborhoods.

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Marriott Launches Ad Campaign for Minority Business Travelers

Sunday, October 14th, 2012

(Hispanic Business) Marriott International Inc. today introduces its newest advertising campaign designed to showcase the breadth of its brands and welcome all frequent business travelers. The new "For You, We're Marriott" campaign focuses on African-American, Hispanic and lesbian, gay, bisexual and transgender (LGBT) business travelers and will run in both print and digital media through year's end. 

The ads champion frequent business travelers, who "conquer their missions on the road without forgetting the important things in life." They also illustrate that Marriott understands the needs of all business travelers and welcomes them, across the global portfolio of Marriott hotels. 

"We believe smart messaging resonates with our customers," says Joanna Todd, Vice President, Segment Strategy for Marriott. "In this latest multicultural marketing campaign, our intention is to celebrate frequent business travelers and recognize that their expectations are as diverse as they are. The campaign puts a human face on business travel, for the men and women who stay with us every night." 

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Spanish-language political advertising lagging

Tuesday, October 2nd, 2012

(Los Angeles Times) Wooing Hispanic voters was supposed to be a big component in this year's election, but according to a new study politicians are putting their money elsewhere.

The United States Hispanic Chamber of Commerce (USHCC) said Spanish-language advertising is a small fraction of overall spending even in states with large Hispanic populations such as California and Florida.

"Political commentators from both sides of the aisle have said repeatedly that 2012 is 'The year of the Hispanic voter,'" said Javier Palomarez, USHCC president. “But while political advertising spending records are being shattered, neither political party is investing a comparable percentage of their advertising dollars to reach these voters."

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Advertisers aren’t tapping into strong African American market, report says

Tuesday, September 25th, 2012

(Washington Post) Even after absorbing a devastating economic hit from the Great Recession, black consumers remain a potent force but are often overlooked by advertisers, according to anew research report.

African Americans are projected to have a combined spending power of $1.1 trillion by 2015, according to the report released on Friday by the market-research firm Nielsen and the National Newspaper Publishers Association, which represents 200 black-oriented newspapers.

As a group, African Americans have a set of spending habits and brand loyalty that should be attractive to advertisers. More than other demographic groups, blacks tend to buy “brand-name” products, watch television and spend time shopping or frequenting fast-food restaurants, the report said.

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On the Job: Diversity helps workers feel special

Wednesday, September 19th, 2012

(USAToday) You've heard the advice: If you're a woman or a minority and want to get ahead in a highly competitive field, look for a mentor to champion you.

But the downside to that strategy happens when others like you want the same mentor. You all may identify with this mentor, but the clustering of employees creates its own problems.

Putting too many women or minorities together in a group can lead to "ghettoes" of low-power minority groups, says Katherine L. Milkman, assistant professor of operations and information management professor at the University of Pennsylvania's Wharton School of Business. These under-represented groups may think they aren't special enough, that it's better to leave and try to succeed elsewhere.

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Hollister Models Mock Asians At Opening Of South Korea Store

Thursday, September 13th, 2012

 

 

(Huffington Post) It looks like Hollister has a new problem on its hands. And, no, it's not another case of bed bugs or people getting lost in their dimly lit stores. This time, the mass retailer is facing racial discrimination accusations from their recently opened South Korea outpost.

For the grand opening of the first Hollister store in Korea in Yeouido, models dressed as lifeguards were flown in to take photos with customers — you know, the same drill we get stateside. Something we don't see during the store openings here in the states? Models flipping their middle finger and mocking the customers. Lee Hyung-Judescribed the offensive actions on the English Korean news site koreaBANG:

"Images of models making 'squinty eyes' faces, flipping their middle finger to photographers, and mocking Asian pronunciation of English appeared on their Twitter accounts."

Full story…

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