Comments on: As Wealth Gap Between Whites, Blacks & Latinos Grows, What Can Your Company Do?

By: Anonymous

Anonymous — Thu, 04 Aug 2011 15:41:39 +0000

Interesting read

By: Anonymous

Anonymous — Thu, 04 Aug 2011 07:06:27 +0000

I agree with the guest comment “Companies are not interested in accommodating people outside their interest, culture”, as its part of their business objective (unwritten) –

By: Anonymous

Anonymous — Wed, 03 Aug 2011 14:13:48 +0000

I agree with the july 29th poster, especially on three points…Get educated, don’t have kids until you are settled in a career (or at least a college degree), and no one will look out for you but yourself. One of the things this current economy has taught us is how important it is to be self reliant, and skilled in the art of finding your own path. I have seen hope and hopelessness in many of my fellow alumni, those with hope are usually the ones taking initiative, starting their own small business doing what they are best at, tutoring, cleaning, accounting, etc. The hopeless are the ones sending a million resumes waiting for a response because they say “what employer wouldn’t want me,” or “they owe me a job” or taking the depressed approach…they don’t want me because i’m old, i’m black, etc and take that attitude with them in their job search. Like others have said, make your own destiny, rise above challenges (real or perceived), stay away from crime, and don’t rely on some corporation or the govt to give you what you need. With that attitude, you can and will succeed even in these trying times.

By: Anonymous

Anonymous — Fri, 29 Jul 2011 10:16:39 +0000

A couple of things about the data. One, these numbers are bad no matter what the skin color. Two, the disparity fails to acount for some demographics. The average white population in the US is far older than the averages for blacks and latinos. Older folks tend to have more wealth, regardless of ethnicity.Marriage is another factor. Married people tend to have far higher net worth. As noted, education plays a major factor in the accumulation of wealth. Drop out rates for minorities….making an exception for Asians, is staggering. Latino’s certainly suffer from language issues. My company can’t hire non-english speaking workers…..the computer systems cannot spit out orders in non-english on the shop floor.

It would be a shame if the government tried to do something about this gap. They were the genesis of sub-prime lending. Anyone who fell for that….will fall for the next charade from Washington. The solution is simple. Get an education. Don’t get married until you have a career, then stay married. Don’t have kids until you can afford them. Don’t think anyone is going to look out for you.

By: Anonymous

Anonymous — Thu, 28 Jul 2011 16:22:19 +0000

As previous readers have stated, this article was well written and a good read. As a Black Women that has paid the price to seek higher education in hopes of finding employment that suit my skills and experience. I find it disheartening to find large corporations filling in the most entry level positions with people of color. I now struggle with selling my children on investing time and money into pursuing higher education when I have invested so much and although I have earned a MBA and have been in the workforce for over 20 years, I am still making almost the same as I did ten years ago. Part of the challenge in closing the gap is to hire Blacks and Latinos for jobs they are qualified for, including salary positions, and not just fill the quote with the low paying jobs. The higher you climb up the corporate ladder, the less colorful it gets. I agree with the guest that stated, “Companies are not interested in accommodating people outside their interest, culture.” Corporate America has a very long way to go and I am not so sure they are even interested in traveling the right road.

By: Anonymous

Anonymous — Thu, 28 Jul 2011 15:13:58 +0000

It’s difficult to accrue any wealth when your employment options include minimum paying or part-time jobs offering little to no compensation growth. The guest from So Cal is right, leadership positions are seldom offered to people of color. In my community, the African-American community, we know we are not going to be considered for those roles no matter our qualifications. While it’s great to suggest hiring interns or college bound students, the reality is that people who do not fit that demographic need gainful employment in a manner that is respectful and sustainable. A part-time job at McDonalds does not fit the bill nor does seasonable, retail work. I fear that we have returned to the old discriminatory practices when it comes to housing and employment. .

By: Anonymous

Anonymous — Thu, 28 Jul 2011 14:42:03 +0000

I saw this report on the wealth gap a couple days ago and was disheartened. I believe there are many factors at play here. Of course, there is discrimination, which is huge! There are more whites in power in the U.S. so they hire their friends, cousins, etc. who whill inturn have more access to wealth opportunities such as 401K and medical care. Additionally, some middle-class blacks that I know are more interested in looking the part than actually building wealth, i.e., expensive clothes, homes, furniture that they cannot afford. I believe blacks (educated ones) have their priorities mixed up. Granted, if you are not taught how to manage money when growing up or learn it later in life through education or experience, it does not just happen by osmosis. My husband and I, who both grew up in extreme poverty, are what most would called upper class blacks, not snobs, but work hard, live in a nice house, nice cars, kids well kept, and college bound, good great, minimal debt, and both of us have retirement accounts and savings, but we have what we have through working, saving, listening to wisdom and advice from others who are doing it well – regardless of race, and staying out of credit card debt. I have clothes that are 10 years old but I know how to make them look very nice and professional and I know how to shop at a thrift store and you’d never know unless I told you. I believe many blacks are still controlled by a slave mentality. Even if you are educated, work, and make good money, you still cannot manage it. Clothes, eating out, and private school does not make you wealthy. Setting financial priorities will lead you to wealth. If we as blacks don’t understand, get educated on how to prioritize and use your money wisely. Stop waiting for someone to help you…no one really cares about anyone else. You have to go after what you need for yourself and while you are at it educate your children, family members, and friends who don’t know either. We must be empowered as black people and stop waiting for someone else to do something about our issues. Read the book Breaking the Psychological Chains of Slavery and see if you find yourself. In the book it talks about how slaves only had one or two outfits to wear for an entire year. If you are a clothes-aholic to the point of being in debt, research why clothes are priority for you. Slave mind – break it and help yourself and others!!! Bill Cosby was right in what he was saying, however, he fell short of offering solutions to the problems. I am tired of hearing about the next church meeting, conference, music festival, or family reunion that blacks folks are having but when it’s time to by something we are charging it or catch scratch $500 up for an emergency. How much was that last Coach bag you bought? What interest is it earning? WE must do better for ourselves. Blacks have to on up to what we are not doing, and start doing what we can. Educate the next generation and don’t just have children and expect them to raise themselves. Parents have a purpose.

By: Anonymous

Anonymous — Thu, 28 Jul 2011 14:19:57 +0000

The article is very good. However, until African Americans as well as Latinos “own the means of production”, we will always be waiting on the Majority to provide our wealth. It is not going to happen people. It will never be in my lifetime or my Great Grand Children’s lifetime. It is up to us to become entrepeneurs as well as gain extensive knowledge and education in an effort to employ ourselves.

By: Anonymous

Anonymous — Thu, 28 Jul 2011 13:14:11 +0000

The wealth gap is very much alive and striving in the part of the country I live in. I am African American and have worked for the federal government 29+ years. I am in middle management but have somehow managed to stay in the same pay grade for almost 20 years. In other words, I have been moving sideways when it comes to pay, even though my responsibilities on the job have increased. Based on my experience and education, I am well qualified for my career, so the only conclusion I can come to is that I have been discriminated against and the reason is to control the wealth in my family. Someone mentioned black and Latino interns, but 98% of the ones that are hired where I work, are not only white but also the children of upper management. Keeping the wealth in their families…..

By: Joseph Steele

Joseph Steele — Thu, 28 Jul 2011 13:13:37 +0000

Thanks for generating this dialogue about the role corporations can play in alleviating these economic disparities. My greatest challenge has been to get senior leaders comfortable enough to actually talk about the possible influences of race/ethnicity on their employees, as well as customers. Generally, there is either denial and/or such discomfort that the conversation just stops.

Another big issue working against the gainful employment of Blacks and Latinos has been the decision of many companies to flee urban areas, moving out to suburban office parks to which access can be quite challenging.

Let’s keep the dialogue alive and actions taken, so that the chasm does not get wider.