Boyce Watkins: Michael Jackson’s Kids and Their Money

by Dr Boyce Watkins

"Stuntin like my daddy" was the first song on the album, "Like Father, Like Son," issued by Lil Wayne and Birdman in 2006. "Stuntin" is a hip hop term synonymous with "flossing," blinging," and "balling." It means that you've engaged in excessive spending to ensure that you have the finest of everything and are even willing to live at the edge of your means in order to present appropriate status symbols to the world. Anyone who follows hip hop knows that you should never take financial advice from a rapper. In light of the recent passing of their father, I sincerely hope that the children of Michael Jackson didn't hear the Lil Wayne song, since their daddy's financial "stuntin" before his death has left the children with a conflicted economic legacy.

On one hand, we shouldn't feel sorry for Michael Jackson's kids, at least not financially. Their father's amazing talent gives them a brand that is literally worth well over a billion dollars in future royalties and licensing fees. Michael Jackson may have died physically. But financially, he is still a viable and overwhelmingly powerful corporate entity.

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Dr Boyce Watkins: What We Can Learn from MJ’s Debt

by Dr. Boyce Watkins

• Janet Jackson honors Michael at BET Awards

Doctor talks to police about Jackson's final moments

Let's remember what Michael did for us

Michael Jackson is not dead. No, he's not on a deserted island chilling with Tupac and Elvis (who some believe faked their deaths), but he is certainly alive in corporate and social spirit, impacting millions of people.

Michael will make 1000 times more money in death than most people make when they are alive. But similar to when he was alive, massive amounts of cash will have to be generated in order to counter the enormous debt that Michael created while he was doing his thing.

Reports have stated Michael Jackson's debt to be as high as half a billion dollars, enough to make some major corporations blush. What's worse is that this debt was not created via a series of sound financial investments: it was conceived by building personal amusement parks, buying rare monkey statues, and rocking his way from one expensive store to the other.

Michael's spending became his addiction. Financial needs could have been what led to him agreeing to do 50 concerts in London this year (a tour he was preparing for just before his death), when he may have not been able to handle one. It was starting to get sad watching Michael perform, similar to watching Muhammad Ali after he'd spent 10 years dealing with Don King. While the 50-year old Michael Jackson may have given a great performance, it would probably be something less than what we've come to expect.

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Your Black Legal: Protecting Those who Testify

 

Photo: Elliot Milner, Attorney at Law

Many of us have read about the traumatic beating of a woman in broad daylight in an Oakland beauty salon.  The woman chose not to testify, in part because she feared retaliation from her attackers.  The protection of witnesses is a serious issue and solutions are necessary.  Elliot Milner, an attorney, had this to say:

“This is a complicated issue, and there is no easy solution. Most police departments only provide protection in the most extreme cases, and this is usually a very rare occurrence. I am a proponent of self-help. I'm not speaking about vigilante justice, simply saying that if people in urban(and any other) communities want to make sure that their neighbors who speak out against those who commit crimes are not harmed, then it is necessary for people in the community to take the initiative to let it be known that they will not tolerate harm being done to innocent citizens who simply seek to have those doing wrong held accountable.

I completely understand that is easier said than done. However, community intervention is a must. The police(in Oakland or any other city/town) are not going to protect you. Even if they have the desire to, most police departments do not have the funding or personnel to accomplish that. In several cities, groups of men in urban communities have taken to policing the streets of their neighborhoods. It is imperative that people in the community show that they are not afraid and will not be imprisoned in their own homes, as is the case in some neighborhoods. Also, participating in dialogue with individuals who may be "in the street" or committing crimes is a must. The more you isolate a person or group of people, the more likely they are to react negatively to you.”

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Elliot Millner: Tyler Perry vs. Spike Lee: What’s Really Going on?

by Elliot Millner, JD

Although I realize that we live in the internet-age, which means even the simplest of criticisms can be blown out of proportion, I am disappointed to see how some Black people are unable to intelligently respond to constructive criticism, even when it is not directed at them.

The person who is the latest target of the "He's just a hater" orchestra is none other than renowned filmmaker Spike Lee. In a recent interview that he did with Ed Gordon, Spike dared to criticize some of Tyler Perry's work(specifically Meet the Browns and House of Pain) and made references to the shows as "coonery" and "buffoonery" and compared them to Amos n' Andy.

For the record, let me say that I agree with a lot of what Spike Lee said. Although I liked a couple of the Madea plays that I saw years back(even though I generally have issue with Black men parading around in dresses, even for comedy-but that's another topic), these two shows don't do anything for me. That's just me, and I do realize that comedy is subjective; what's funny to one person is not funny to another. However, any person familiar with the historical 'coonery' and 'buffoonery' that Spike Lee was referring to(reference Bamboozled if you haven't seen it) would be hard pressed to argue his point that some of Tyler Perry's characters do harken back to that era. If "Mr. Brown" isn't the prototypical coon-type character, then what is? This is not to single Tyler Perry out, because there are other examples, and some of them aren't actors(Flavor Flav).

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Your Black Attorneys: The Troy Davis Case: Things you need to know

by Elliot Milner, JD.

" I have faced execution and the torment of saying goodbye to my family three times in the last two years and I may experience that trauma yet again; I would not wish this on my worst enemy and to know I am innocent only compounds the injustice I am facing."- Troy Davis, from Georgia's death row, on facing a fourth possible execution date.

For those who are unaware, Troy Davis has been on Georgia's death row for about 18 years, after being convicted of murdering police officer Mark McPhail(Mr. Davis has maintained his innocence from the very beginning).

It would take pages to give all of the details of Troy Davis' case, however I will say that there was no physical evidence found(including a murder weapon) connecting Troy Davis to the killing of Officer McPhail; he was convicted largely on the basis of inconsistent and often contradictory eyewitness testimony. The vast majority of those prosecution eyewitnesses have since recanted or changed their testimony implicating Mr. Davis, and one of those who hasn't is Sylvester Coles, the main alternative suspect presented by the defense during Troy Davis' trial. In addition, there have been multiple allegations of police coercion and the usage of unethical interrogation techniques.

(For additional information on Troy Davis' case, or to get information on how to act, check out www.amnestyusa.org/death-penalty/troy-davis and http://www.troyanthonydavis.org/.).

Troy Davis' ordeal has been going on for nearly two decades now, and is nearing its end, one way or the other. He has had numerous appeals denied(most recently in April 2009), habeas corpus petitions denied, stays of execution granted and expired, and also had one request for clemency denied by the Georgia State Board of Pardons and Paroles(the same board that would decide any future request for clemency regarding Troy Davis).

 

Click to read more on YourBlackAttorneys.

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Dr Boyce: Michael Eric Dyson and Barack Obama Need to Talk

by Dr. Boyce Watkins

When I heard the controversial and heated comments about President Obama that were made by my respected colleague Michael Eric Dyson, I felt like a 2nd grader running outside to see the fight between two middle school kids. Both Barack and Michael are men I've grown to appreciate, and I love them for their strengths as well as their imperfections. Michael was the reason I became a public scholar during graduate school, as I would watch the words flow out of him like an MC in the booth dropping his hottest album. The man is good, damn good.

Barack Obama needs to listen to the words of Michael Eric Dyson. In fact, he should give Dyson as much, or more respect than he gives me or any other black public intellectual in America. Dr. Dyson, no matter how you perceive his critique of President Obama, represents a form of insight that you are not going to find in politics, the pulpit or anywhere else. At the same time, I will confess that his words may also come from an impure place that lies within the darkest part of our souls. In other words, Dyson, Tavis, Barack, Jesse and every other ambitious man in America is always going to be tempted by the "Demon of Playerhaterology". Men are naturally competitive, and no man likes to be disrespected. Obama, as a condition for his employment, is often asked to disrespect other leaders across America who represent the essence of meaningful black thought. That's going to create a long list of enemies.

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Read more Black Politics at www.YourBlackPolitics.Blogspot.com.

Dr Boyce Watkins: America’s Pending Retirement Crisis – Are you prepared?

by Dr. Boyce Watkins, Finance Professor at Syracuse University

www.TheGrio.com

I hate to be the bearer of bad news. But then again, it must not bother me very much, since I am going to give you a big pile of bad news right now. Given that I earned a Masters Degree in the "morbid science" of statistics, I figured I would start the day by fulfilling my occupational expectation.

The first piece of bad news is that you are going to die. One day, your heart will stop beating and the 2.5 billion breaths you'll take during your lifetime will come to an end. Hopefully, it won't be painful, but I can't guarantee that. The truth is, however, that death might not be the worst part of it all.

The toughest news is that before you die, you are likely going to experience a long, slow period of physical and psychological decline called "old age". In conjunction with this decline, you are going to see your financial resources dwindle as quickly as the muscles in your body. Not only will the scale of your resources decline, but your expenses will likely mount as you go to one doctor's visit after another, all with the hope of delaying the inevitable. That period of life is called "retirement", and most Americans are not financially prepared for it.

Now that you are sufficiently depressed (there's no point in lying to you, I'm not very good at that), I will give you some facts to chew on. I also hope that in light of these realities, you will engage in something that the rest of America is not doing: preparing for retirement. While retirement planning has always been important in the past, it has never been more important than it is for you right now. The Perfect Economic Storm is coming, one in which all the scary clouds merge together into one big ball of fiscal devastation that can only be created by God himself. When your financial meteorologist (me) gives you that information, it's your decision to get your family prepared. Let's break down the components of the storm, shall we?

 

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Dr. Wilmer Leon: Sotomayor and America’s Racial Hypocrisy

Dr. Wilmer J. Leon III

Howard University

On Tuesday May 26^th, President Obama nominated federal judge Sonia Sotomayor to replace retiring Supreme Court Justice David Souter. Before the President announced his selection he stated he was not just looking for someone with just “ivory tower learning”; he wanted “intellectual firepower” as well as a “common touch” and a “practical sense of how the world works”. He also used the word “empathy” several times. It did not take long for the critics to weigh in and challenge the nomination.

What is troubling about the criticism is that most of it is intentionally not directed at judge Sotomayor’s record as a jurist and opinions that she has rendered. Most of the criticism is deliberately based upon select statements made in speeches or lectures, as was the case with Rev. Jeremiah Wright. They have been contextualized in the most inflammatory way possible in order to scare white people.

Click to read more on our Black Scholars Blog.

 

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Did Wells Fargo Discriminate? Chris Richardson Breaks it down

Dr. Christopher Richardson

Dr. Christopher Richardson, one of the world’s leading experts on predatory lending and banking, comments on a recent report that Wells Fargo, one of the sponsors of the State of the Black Union event held every year, is being sued by several government agencies due to accusations of financially exploiting and deliberately misleading the Black community.  Dr. Richardson’s comments are below:

Click to read on African American Money.

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Chris Metzler Breaks Down Obama’s New Appointment

Dr. Christopher Metzler

President Obama's nomination of Sonia Sotomayor to be a Justice on the United States Supreme Court has brought to the surface the lingering resentment that so many White men in America have harbored since the end of slavery. Moreover, it has denuded the souls of white folks who have now become part of a race. It has also revived White men as victims and given voice to the intellectually dishonest rhetoric of "reverse" racism while also race-baiting the White House, albeit one headed by a Black man.

Of course, we understand that race is a social construction. That is, there is no biological basis for race. Rather, in the context of the United States, race has been formulated and given meaning by society and the courts who wished to connote difference and the privileges and insults thereto appertaining. That formulation for so much of our history defined Whites as superior and numerical racial minorities as inferior thus justifying different treatment.

First, it is not an understatement to say that many White men in America have opted out of the conversation on race. In fact, in most conversations about race, racial minorities are the ones who are presumed to be affected by racism because of America's toxic relationship with race. White men in particular enjoy the visible and invisible privilege of being both White and male and thus, until now, have seen no reason to be considered part of a "race." 

The White men of whom I write have decided that they will pick the carbuncle of race in an attempt to protect their white privilege at all costs. Hoisting the White man's burden are Rush, Tancredo, Hannity, Dobbs and Gingrich; the "unelected" leaders of the party. The elected leaders (especially those with significant Latino voters) and the languid "head of the party" (Michael Steele) will collude with them by saying nothing.

Click to read more on the Dr Boyce Black Scholar’s Blog.

Dr. Christopher J. Metzler is associate dean at Georgetown University and the author of The Construction and Rearticulation of Race in a Post-Racial America.

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Former NY Yankee Transitions to Business: How He did It

Jason Robertson is a man of many gifts. As an young man, he was an All-American baseball player, drafted by the New York Yankees straight out of high school. He was also listed by Essence Magazine as one of the most eligible bachelors in America for his good looks and success. If that were not enough, Jason retired from baseball and re-invented himself as a leading, award-winning entrepeneur.

Besides being a model of success for his 3 sons and celebrating his engagement to fiance Marshawn Evans, Jason is on a mission to teach other young men how to make the transition from successful athlete to outstanding businessman. Black Voices got a chance to catch up with Jason.

1) What do you do for a living?

I own an industrial packaging company. We sell corrugated boxes, bags, films, pallets, and we also provide warehousing and storage.

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Syracuse University Professor Boyce Watkins Joins NBC

Dr. Boyce Watkins, a Finance Professor at Syracuse University, will be joining NBC to do financial analysis and commentary.  Through various forms of television and online media, Dr. Watkins will do regular financial segments and articles on a variety of financial and socio-political topics. 

One of the financial segments will be "Financial Lovemaking", based on his book "Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good".  He will also do "The Dr Boyce Breakdown", a segment in which he analyzes complex socio-political issues and breaks them down so that regular Americans can understand them.  This is part of Dr. Watkins' plan for Scholarship in Action, in which he is working aggressively to ensure that all Americans embrace financial literacy and that African Americans find the path to true equality.  Dr. Watkins has been consistently calling for more publicly engaged Black scholarship, so that African American scholars can be on the forefront of controversial issues within the Black community.

In addition to being a faculty member at Syracuse University, Dr. Watkins is a regular contributor to AOL Black Voices, where his column "Dr. Boyce Money" is among the most popular on the website.  AOL Black Voices is the most visited Black news website in America, with 114,000 readers per day.  He also does regular work with NPR, CNN and other media outlets, in addition to scholarly research and teaching.

For more information, please visit www.BoyceWatkins.com.

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Black Scholar News: Dr. Christopher Metzler Analyzes Sotomayor

Dr. Christopher Metzler (Georgetown University) analyzes the appointment of Obama’s new Supreme Court Justice.  Click the image to watch!

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