TSD Memphis

Sat04192014

Business

Dessert bar owner hits home with entrée cupcakes

cupcakes-600Local food artisan and owner of Haute Monde dessert bar Fran'Kel Mosley showcased her modernized twist on simple finger food at a Groupon food tasting hosted at The New Tri-State Defender's office on Sunday, June 21st.

The hit of the afternoon came when Mosley introduced her new line of "savory" entrée cupcakes. Presented as a twist on the traditional American Sunday dinner, the guests quickly lined up for an imaginative way of enjoying meat loaf and mashed potatoes, chicken and dressing with sweet potatoes, and especially table favorite (and crowd pleaser), macaroni and cheese. Yep, homemade macaroni & cheese baked in a cupcake mold, as a side dish to the main courses.

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Target-date funds keep retirement in sight

CharlesSimsJr-160MONEY MATTERS At the end of 2011, more than half of all recently hired 401(k) participants owned target-date mutual funds. When a worker is auto-enrolled, a target-date fund is often the default investment for retirement plan contributions.

Target-date funds are hybrid mutual funds that generally include a mix of assets (stocks, bonds, and cash alternatives) that automatically shifts as the account holder ages.

The target date is the approximate date when an investor plans to withdraw his or her money – typically the year when he or she expects to retire (such as 2030, 2040, or 2050). The further away the date is, the greater the risks that the target-date fund usually takes. The mix of investments generally becomes more conservative as the date grows closer. The "glide path" is a formula that determines how the asset mix will change over time.

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Entrepreneurship: An upside to a downsize

CarleeMcCullough-160Layoffs, downsizing and restructuring have been felt by many nationwide. While the experience is rarely pleasant, the result can be life changing in a positive way if a successful, thriving business is the end product.

Across the country, entrepreneurs have taken lemons and made lemonade. From bed and breakfasts to cider companies, these former employees decided to become the employers in creative businesses that set them apart from others.

Our Town America

After working in corporate America for over 30 years, at 60 years old Su Hartung was laid off after a company buyout. Putting her experience in sales and marketing to great use, she purchased an Our Town America franchise in DeKalb, Ill. The franchise provides other businesses an avenue to market to new folks in the neighborhood.

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How to get a job out of college

23getajob-600Prepare your resume

To write a good resume, gather information on your graduation status, skills, volunteer work, internships, and job experience that would be relevant to prospective employers. Also, consider customizing your resume and its layout for each job opportunity, so that your relevant work experience, education, and abilities are noticeable for the reader. It's also a good idea to closely review your resume for spelling and grammatical errors.

Take advantage of your college career center before you graduate

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Real Times Media & Interactive One Studios now digital partners

RTMInteractivensp-400bDETROIT – Real Times Media (RTM), which includes the nation's largest African American-owned newspaper and digital media operation, has signed on as the latest partner of Interactive One Studios, a division of Interactive One.

Interactive One assists external brands with developing highly profitable digital businesses through world-class sales, platform, content and distribution services. Real Times, the parent company of The New Tri-State Defender, is a multimedia company focused on urban news and entertainment.

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State’s only MBDA Business Center celebrates first anniversary

The Minority Business Development Agency (MBDA) Business Center kicks off the celebration of its first anniversary at 10 a.m. on Friday (July 19) and its operator – the Memphis Minority Business Council (MMBC) Continuum is signaling success.

The MBDA, a division of the U.S. Department of Commerce, helps create and maintain U.S. jobs. It does so by "promoting the growth and global competitiveness of minority businesses through access to capital, new markets, contracts and strategic business consulting." The Memphis Business center, located at 158 Madison Ave., Suite 101, was the first in the state.

The MMBC Continuum reports that over the past year (April 2012 to March 31, 2013) the MBDA center had 61 clients that produced $27.7 million dollars in contracts and created and retained 251 jobs.

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Entrepreneurship: When it becomes time to say ‘S.O. What!’

Summer Owens-400tON OUR WAY TO WEALTHY: After six years as a FedEx marketing specialist advisor, Summer Owens is guiding her own creation – the S.O. What! Foundation – as she pursues life after layoffs, downsizing and retirement. The foundation's goal is to help people achieve success regardless of their circumstances.

Carlee McCullough: Tell us about the non-profit you established.

Summer Owens: The S.O. What! Foundation ... provides support, information and resources to various groups who are determined to overcome their obstacles. The S.O. What! Foundation will hold comprehensive and interactive conferences, retreats and workshops for different groups, including teen moms, single moms, boys without fathers, college students teen girls and more. On July 26-27, we will hold the first S.O. What! overnight retreat. This one will be for teen moms. We will focus on the issues they need to deal with to become better young women so that they can be better mothers. The S.O. What! Foundation will also offer scholarships and mentoring programs.

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Cybercrime update: Tips to protect your money, privacy and identity

CharlesSimsJr-160MONEY MATTERS: Federal prosecutors recently indicted members of an alleged gang of cyber thieves for stealing $45 million from banks in coordinated global attacks, each of which lasted only several hours. Sophisticated hacking techniques were used to remove spending limits on prepaid debit-card accounts at two banks in the Middle East. Organized crime cells then programmed corresponding debit cards to withdraw money from bank ATMs around the world, including $2.8 million from nearly 3,000 ATMs in New York City in two separate attacks that took place in December 2012 and February 2013.

The heist is believed to be the second-largest global bank robbery on record. In New York City, the bank theft was second only to the 1978 Lufthansa robbery depicted in the movie "Goodfellas."

News of such brazen and costly attacks demonstrates how difficult it can be for individuals, businesses and governments to detect the latest cyber threats and protect their interests. Unfortunately, millions of American consumers could become victims of cybercrimes such as debit- or credit-card fraud and identity theft each year.

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Entrepreneurship: Summer Owens makes her case

Summer Owens-400tON OUR WAY TO WEALTHY: Summer Owens, a former FedEx marketing specialist advisor, is living proof that there is entrepreneurial life after layoffs, downsizing and retirement.

Carlee McCullough: Tell us a little about yourself.

Summer Owens: I am originally from Jackson, Tenn., but have lived in Memphis since 1997. I moved here to attend the University of Memphis, where I graduated with a BBA in Marketing in 2001 and was also named Miss University of Memphis. Last year I was named the Fogelman College of Business and Economics Young Alumna of the Year. I also earned an MBA from Belhaven College. I am the 34-year-old mother of an 18-year-old son and the author of "Life After Birth: A Memoir of Survival and Success as a Teenage Mother." I am also the founder and president of S.O. What! LLC and founder and executive director of The S.O. What! Foundation.

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Expanding a student’s college options

CharlesSimsJr-160Would you be disappointed if your child or grandchild was not able to attend his or her "dream" college solely for financial reasons? If you aspire to help a student cover rising higher-education costs, it may be wise to start saving as early as possible.

Parents and other family members can contribute to state- and college-sponsored 529 plans that feature tax-deferred accumulation. Withdrawals are tax-free if used to pay qualified higher-education expenses. There are no income restrictions for participation, although each state sets a maximum annual contribution limit.

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Black unemployment rate rose slightly in June

unemployment-400WASHINGTON– The black unemployment rate rose to 13.7 percent in June, up from 13.5 percent in May as the economy added 195,000 jobs, exceeding most expectations. The unemployment rate for whites barely improved to 6.6 percent in June from 6.7 percent in May.

After falling for four straight months, the unemployment rate for black women 20 years and over rose sharply to 12 percent in June from 11.2 percent in May. The jobless rate for white women also increased to 6 percent in June from 5.8 percent in May.

The jobless rate for black men over 20 years of age fell to 13 percent in June from 13.5 percent in May. The unemployment rate for white men fell to 6.2 percent in June from 6.4 percent mark set in May.

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BlackVoices.com founder Barry Cooper joins Real Times Media

Cooper-500DETROIT –Real Times Media (RTM), the multimedia parent company of The New Tri-State Defender, has hired digital media expert Barry Cooper – the founder of the original BlackVoices.com – to "strategically transition its traditional print properties into a more robust digital platform."

Focused on urban news and entertainment, RTM includes the nation's largest African American-owned newspaper and digital media operation. The multimedia company is focused on transitioning traditional Black Press properties into digital contenders for urban news, lifestyle information and entertainment.

"Barry's extensive experience with, and comprehensive understanding of, digital media is a tremendous addition to Real Times Media and one I'm sure will become a valuable resource to our clients," said Hiram E. Jackson, chief executive officer, Real Times Media. "It is truly exciting to have one of the founders of the digital black press as a part of our team as we flesh out a digital first strategy which will ensure a strong, vibrant future for our newspaper brands and a successful platform upon which we'll launch new online brands."

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Life after layoffs, down-sizing and retirement

CarleeMcCullough-160ON OUR WAY TO WEALTHY Across the country, whether in the private sector or government, companies are laying people off, downsizing and/or forcing early retirement. In some circumstances it can be devastating to a household.

Immediately after the initial shock of learning your fate, it is easy to become paralyzed by fear. Next comes the scrambling around for a new job to replace the income that will soon be lost.

Some may wait to look for another job until savings or severance packages have been depleted. Still others will pursue unemployment pay as an alternative. However, this is usually only a portion of the lost wages and will not fill the gap.

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