While there has been a focus on Black Americans becoming more cognizant of when and where we put our buying power I felt compelled to write this blog. Yes, we know that we need to start supporting our own and keeping the money in the black community. It is not racist, it actually makes sense on a moral, economical and results driven basis. You give money to those in your community, those businesses in return hire more of those that look like you and give back to causes that directly benefit you.
Now it is not realistic to have the expectation for everyone or even majority of those in our community to go to buying at convenience or colorblind to giving all your money to the black community just like that. Some stories are different than others but I think something we can ALL do is to do away with giving our money to communities that have PROVEN they are not for us.
For those that want to Buy Black and Buy Black easily you can do so at www. MelaninBusiness.com. I personally use Melanin Business every week!
1. Fifth Third Bank
- Fifth Third Bank to Pay $18 Million Settlement For Charging Black Customers More Interest for Auto Loans. Read more HERE!
2. Marc Jacobs
In NYFW Sept 2016 Marc Jacobs runway show featured very caucasian show with very loc style here or negro hair. Marc says he does not see color but the way he picked all white models and put them in a very black hairstyle proves a lie. He was then met with very appropriate backlash and then responded stating that black women wearing straight hair are appropriating white women. Umm sir, I thought you didn’t see color? Negro/ Afro Hair is often BANNED in ANY place Europeans thrive. From Corporate America to the Runway to Miss America. History tells us that black women used to be FORCED to cover their hair for fear that white men would find it attractive. His cultural appropriation/ stealing without any major effort to include women of said culture plus his very privileged response is reason to leave Marc Jacobs alone for good. Instagram is a blessing in the fact that we get the real deal Holyfield. No PR appropriate response we get directly from the horse’s mouth. No need for interpretation the post does not lie.
3. Wells Fargo
- USA Today reported that Wachovia Corporation (now owned by Wells Fargo) has disclosed that two of its historical predecessors owned enslaved Africans and accepted them as payment. Do I need to say anymore? Read more Here in Atlanta Black Star and Here on CNN.
4. JP Morgan Chase
JPMorgan Chase admitted their company’s links to slavery.
“Today, we are reporting that this research found that, between 1831 and 1865, two of our predecessor banks—Citizens Bank and Canal Bank in Louisiana—accepted approximately 13,000 enslaved individuals as collateral on loans and took ownership of approximately 1,250 of them when the plantation owners defaulted on the loans,” the company wrote in a statement. Read more Here in Atlanta Black Star and Here in NY Sun.
5. New York Life
- According to USA Today, evidence of 10 more New York Life slave policies comes from an 1847 account book kept by the company’s Natchez, Miss. agent, W.A. Britton. The book, part of a collection at Louisiana State University, contains Britton’s notes on slave policies he wrote for amounts ranging from $375 to $600. A 1906 history of New York Life says 339 of the company’s first 1,000 policies were written on the lives of slaves.
6. Lehman Brothers
- Lehman Brothers empire started in the slave trade. They have acknowledged that their founding partners owned several Black slaves during the Civil War and profited significantly from it. Read more Here.
- “Aetna has long acknowledged that for several years shortly after its founding in 1853 that the company may have insured the lives of slaves,” said Aetna spokesman Fred Laberge in 2002. Read more Here.
8. N M Rothschild & Sons Bank in London
- According to Atlanta Black Star, The company that was one of the biggest names in the City of London had previously undisclosed links to slavery in the British colonies. Documents seen by the Financial Times have revealed that Nathan Mayer Rothschild, the banking family’s 19th-century patriarch, made his first personal gains by using enslaved Africans as collateral in dealings with a slave owner.
9. Norfolk Southern
- The Mobile & Girard company, which is now part of Norfolk Southern, offered slaveholders $180 ($3,379 today) apiece for enslaved Africans they would rent to the railroad for one year, according to the records. The Central of Georgia, another company aligned with Norfolk Southern Line today, valued its slaves at $31,303 ($663,033 today) on record.
10. USA Today
- USA Today has found that their own parent company, E.W. Scripps and Gannett, has had links to the slave trade.
11. Fleet Boston Financial
- According to Atlanta Black Star, Fleet Boston Finanical evolved from an earlier financial institution, Providence Bank, founded by John Brown who was a slave trader and owned ships used to transport enslaved Africans.
The bank financed Brown’s slave voyages and profited from them. Brown even reportedly helped charter what became Brown University.
- On September 9th, 2016 Denver Broncos Brandon Marshall lost his Partnership with The Air Academy Federal Credit Union for protesting against injustices toward black people. I find it quite comical how the Air Academy Federal Credit Union made this about them when Colin Kaepernick has done an AMAZING job explaining what the issue is. Black people join the Air Academy and on civilian time them and their families are still faced with black injustices white supremacy has put into place. The pledge of allegiance has NOTHING to do with not honoring the military but that’s already been explained no need to keep talking about what is a google search away.
13. Century Link
- On September 12th, 2016 Denver Broncos Brandon Marshall lost his Partnership with CenturyLink. Does anyone find it interesting that Brandon is the ONLY person to lose sponsorships so far. Not the leader Colin or the ENTIRE Seatle Seahawks team but this ONE individual. Let’s all keep Brandon in our thoughts and prayers as it seems he may be targeted.
- The co-owner of Bookies Bar & Grille in downtown Detroit posted several harsh statements about the shooting of an unarmed black man in Tulsa, Okla., claiming “the media will cut video” of the incident and warning people to “get ready for the liberal media frenzy of BS.” Read more HERE!