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Dow Reshuffle: Apple Joins Blue-Chip Index, AT&T Gets Booted

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In this Wednesday, Nov. 20, 2013, file photo, the Apple logo is illuminated in the entrance to the Fifth Avenue Apple store, in New York. Six weeks ago, the iPhone and iPad maker announced plans to split its stock for the first time in nine years. Since then, Appleís shares have surged more than 20 percent. The stock split helped renew investor interest in Apple Inc., already the worldís most valuable company. (AP Photo/Mark Lennihan)

In this Wednesday, Nov. 20, 2013, file photo, the Apple logo is illuminated in the entrance to the Fifth Avenue Apple store, in New York. (AP Photo/Mark Lennihan)

BERNARD CONDON, AP Business Writers
MAE ANDERSON, AP Business Writers

NEW YORK (AP) — Apple is in. AT&T is out.

In another milestone for the popular and profitable iPhone giant, Apple will replace AT&T in the venerable Dow Jones industrial average on March 19, the manager of the index announced Friday.

The move isn’t likely to impact the 30-stock index much, and will have no effect on the fortunes of the two companies. But market experts say it does have symbolic importance, sort of like getting an Oscar at the Academy Awards — or at least a nomination.

The change cements Apple as “the gold standard of technology,” says Daniel Ives, a financial analyst at FBR Research. “They’ve really become the modern-day Wright Brothers.”

The reshuffling of the 119-year-old Dow, a barometer of market fortune and folly once dominated by railroads, also reflects a changed business world.

“It underscores that technology continues to be a critical driver of the overall economy,” says Edward Jones analyst Bill Kreher.

Apple is the world’s most valuable company. Its market value on the stock exchange, or what it would take to buy all its shares, closed last month above $700 billion, a first for any company.

Apple won’t get top billing in the Dow, though. Thanks to a quirk in the way the index is calculated, that honor will go to a company a little over a tenth as valuable: Goldman Sachs.

The Dow weights companies by how much it costs to buy a single share, not all of them. On Friday, a Goldman share fetched $186.91 versus $126.60 for Apple.

A look at the musical chairs at the world’s most famous index:

THE REASON

For all the symbolic importance, the trigger for the move is less colorful. The manager of the index, the S&P Dow Jones Indices, said it’s making the change in response to a planned stock split for Visa, another Dow member.

After its four-to-one split, Visa will wind up with a lower price. S&P said that would reduce the weight of the information technology sector in the Dow because Visa, a credit-card and payment-processing giant, counts as a tech stock. Adding Apple will help balance out this reduction.

TWEAKING THE INDEX

S&P Dow Jones Indices said the decision to fold in Apple won’t alter the overall level of the index, which stood at 17,856 Friday.

S&P Dow Jones is casting the move as a sort of a housekeeping maneuver, a way to ensure that the index better reflects the U.S. economy and markets.

The switch is not a reflection of its view of Apple.

“This doesn’t mean we like the stock, or don’t like the stock, or something like that,” says David Blitzer, chairman of the index committee at S&P Dow Jones.

CHALLENGES AT AT&T

While the Dow change wasn’t triggered by anything AT&T did, it comes at a challenging time for the phone giant.

The nation’s second-largest wireless carrier is facing pressure from smaller rivals T-Mobile and Sprint in a competitive environment in which most Americans already have a cellphone.

Its stock has risen just 3.5 percent in the past 12 months. That compares with a 10.4 percent gain in the Standard & Poor’s 500. Apple, meanwhile, has jumped 67 percent.

To keep growing, AT&T has had to look beyond cellphones — to tablets and connected cars, for example. Adding a tablet to a phone plan gets AT&T another $10 in monthly service fees.

The Dallas-based company is also trying to wean customers off equipment subsidies and shift them toward installment plans in which they ultimately pay full price for a phone.

In its most recent quarter, AT&T booked a loss due to one-time expenses. But its revenue rose 4 percent as it added 1.9 million subscribers, double the year-ago quarterly increase.

AT&T has bounced in and out of the blue chip average over the Dow’s long history. It first entered in 1916 as American Telephone & Telegraph, joining Central Leather, Studebaker and other industrial giants in an elite club of 20 companies. Much later, in 2004, AT&T was kicked out only to return the following year when it merged with SBC Communications.

THE DOW STILL MATTERS

Created in 1896, the Dow is one of the oldest gauges of stocks. Grover Cleveland was U.S. president that year. Companies like the Pacific Mail Steamship were counted among its ranks.

The index tracks only 30 stocks. The Standard & Poor’s 500 reflects the moves of 500.

The S&P 500 also ranks companies differently, assigning weights based on the value of all a company’s shares, not just one. That gives Apple more influence on daily moves in the index than any other stock. It accounts for nearly 4 percent of the index.

Professional investors focus more on the S&P 500 because they think it reflects the stock market better. They tend to use that index, not the Dow, to judge the performance of their own portfolios.

Ordinary investors also prefer the S&P 500, judging from the money they’ve put into index funds that mimic its performance. Investors have $4 trillion in 1,261 funds that track the S&P 500, according to Morningstar. That compares with just $13.6 billion in 12 Dow-based index funds.

Still, the Dow can’t be dismissed as a relic. It continues to be much cited and isn’t seen as wildly distorted.

One reason is that, for all its flaws, the Dow has largely mirrored the ups and downs of the much larger S&P 500. In the past 12 months, for instance, the Dow has risen 8.7 percent versus the S&P 500’s 10.4 percent.

The last big Dow shake-up came in September 2013, when Goldman Sachs, Nike and Visa knocked out Alcoa, Bank of America and Hewlett-Packard.

___

AP Business Writer Matthew Craft contributed to this report.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Oakland Post: Week of August 12 – 18, 2026

The printed Weekly Edition of the Oakland Post: Week of August 12 – 18, 2026

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California Hispanic Chambers of Commerce Unveils: ‘Powering the Future’ Theme for 47th Annual Statewide Convention

POST NEWS GROUP — For nearly 50 years, the CHCC has been the frontline champion of California’s small-business ecosystem. As the economic landscape evolves, “Powering the Future” signals bold momentum—emphasizing the innovation, resilience, and leadership needed to fuel the next generation of entrepreneurs and community leaders. The theme bridges the CHCC’s foundational advocacy over the past 47 years with a strategic vision for rapid economic transformation.

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Luis Zambrana, McDermott Costa Insurance; Leo Callejas, California Hispanic Chambers of Commerce (CHCC) Northern Region chairperson; Karen Guzman, Aliza Gallo, board director, Oakland Latino Chamber of Commerce (OLCC); Julian Cañete, president and CEO of CHCC; Sharon Fonseca, OLCC board director. Courtesy photo.

The premier August event in Oakland will unite business leaders, policymakers, and innovators to drive the next generation of California’s economic growth.

The California Hispanic Chambers of Commerce (CHCC) has officially announced “Powering the Future” as the theme for its 47th Annual Statewide Convention. The landmark event will be held August 19-21 at the Oakland Marriott City Center in Oakland, California. 

For nearly 50 years, the CHCC has been the frontline champion of California’s small-business ecosystem. As the economic landscape evolves, “Powering the Future” signals bold momentum—emphasizing the innovation, resilience, and leadership needed to fuel the next generation of entrepreneurs and community leaders. The theme bridges the CHCC’s foundational advocacy over the past 47 years with a strategic vision for rapid economic transformation. 

Driving Innovation and Economic Influence

As California leads global trends in technology, clean energy, and entrepreneurship, Hispanic-owned businesses are at the helm. From harnessing artificial intelligence and accelerating digital transformation to pioneering sustainable practices, Latino entrepreneurs are actively shaping tomorrow’s industries.

“Hosting this convention in Oakland is deeply meaningful,” said Noel Gallo, who represents Council District 5. “Approximately 28% of Oakland’s population is Latino, and their contributions shape every aspect of our civic, cultural, and economic life.”

Latino‑owned businesses are central to our city’s growth; they drive job creation, revitalize commercial corridors, strengthen neighborhood identity, and contribute to innovation across sectors including construction, hospitality, education, retail, arts, professional services, and more, Gallo asserts.

“These enterprises do more than generate revenue; they anchor family legacies, nurture community pride, and create spaces where culture and commerce meet,” Gallo said.

“Following a period of significant economic transformation, ‘Powering the Future’ is more than a theme—it is a collective call to action,” said Julian Cañete, president and CEO of the CHCC. “Our businesses and future leaders aren’t merely adapting to change; they are driving it. This convention will showcase the innovation and leadership needed to build a stronger, more prosperous California for generations to come.”

Cañete is also excited to have Oakland as the organization’s host city. Noting Oakland’s historical significance and deep-rooted diversity “From its legacy as center of social movements to its modern identity as a hub for innovation, sustainability, and small business growth, Oakland embodies the resilience and creativity that define our state,” Cañete added. “We are proud to contribute to this dynamic community’s ongoing momentum and economic vitality.” 

Three Days of Impact, Connection, and Advocacy

The CHCC Annual Convention empowers Hispanic and diverse businesses and communities while fostering connections and advancing economic opportunities. The convention features impactful presentations on business development, current business trends, economic and community development, and policy-oriented discussions.

Attendees can connect with business leaders, thought leaders, elected officials, and other Hispanic and diverse small business and community leaders. Participants establish strategic, long-lasting partnerships through direct personal engagement, best-practice sharing, interactive dialogue, networking workshops, and more.

The agenda includes an annual business matchmaking program, dynamic panels and speakers, an exhibition hall, awards ceremonies, and meal events highlighting the remarkable achievements of Hispanic and diverse businesses and communities.

The CHCC Annual Awards celebrate Hispanic and diverse companies and communities for their hard work, ingenuity, dedication, and contributions to California’s economy. The CHCC Annual Convention also aims to advance a diverse supply chain and create expanded business opportunities for diverse entrepreneurs and communities.  

The Oakland Hispanic Chamber of Commerce is the source for this report.

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Returning to Its Roots, the Oakland Black-Eyed Pea Festival Partners with the Freedom Farmers Market Sept. 12

POST NEWS GROUP — Freedom Farmers’ Market (FFM) vendors sell produce and promote wellness and nutrition through organic herbs, massage, and other gift items from July through October on the second and fourth Saturdays at a dozen canopies in the last block of Shattuck Avenue, where it merges with Telegraph Avenue.

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Elaine Smith, executive director of Farms to Grow, Inc., holds T-shirt for Ki’Ara LaFitte, winner of the Freedom Farmers’ Market Watermelon-Eating Contest at the season opening on July 11. Courtesy photo.

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The Oakland Black-Eyed Pea Festival (BEPF), a celebration of African American traditional music, food and art, will return to its roots through a partnership with Farms to Grow, Inc., the hosts of the Freedom Farmers’ Market on Sept. 12.

Now in its 11th year, the downsized festival sponsored by Omnira Institute will open with presentations by Wakan Wiya Two-Spirit Drum, a drum invocation for the ancestors by Awon Ohun Omnira, a performance by Andre Thierry of Accordion Soul, and most importantly, fresh black-eyed peas for sale.

Freedom Farmers’ Market (FFM) vendors sell produce and promote wellness and nutrition through organic herbs, massage, and other gift items from July through October on the second and fourth Saturdays at a dozen canopies in the last block of Shattuck Avenue, where it merges with Telegraph Avenue.

Over the years, FFM vendors have appeared at the Black-Eyed Pea Festival and vice versa, so this collaboration is like a family reunion.

Farms to Grow, Inc. Executive Director Elaine Smith said the collaboration with Omnira Institute was an opportunity she couldn’t refuse. “People talk about community and unity for Black people – I always want to be an example of what has to be done,” Smith said. “Anyway that we can partner with our people, we want to do that.”

Charlotte Jackson, a longtime vendor with FFM and the festival, had been known for her jellies, jams and chow-chow through Pots n’ Jars. For the last several years, she hasn’t been able to find a commercial kitchen she can afford, so she began selling vegan soap and skin care products that her son and his partner produce under the name Lather and More.

“It’s been a blessing,” said Jackson, who will tell her customers that although they can order the wares from the website, there’s no such thing as ‘smell-avision.” From her table, she encourages passers-by to take a sniff of the soaps, then directs them to the nearby booths.

Jackson functions as a sort of ‘town crier’ of ‘buying Black,’ never failing to encourage Black people to take their mule or Pontiac or Chevrolet and steer it toward Black businesses like Mandela Market.

Likewise, the Black-Eyed Pea Festival was established to encourage Black entrepreneurship by providing a space for Black creatives to sell their handmade or original designs and products without competing with commercially produced goods.

It also served as a way to both commemorate and invigorate memory of the once-thriving Black community of West/North Oakland before it was divided by highways, BART, and then ravaged by the crack cocaine epidemic.

“For one day, I wanted to invoke the success of that community through the sound of music, the taste of soul food and black-eyed peas and the beauty of our art,” Ravernell said.

Once deciding to follow through on the idea of holding a festival celebrating African American traditions, Ravernell settled on using the black-eyed pea as its symbol because of its pride of place in Black people’s consciousness on New Year’s Day and because the peas were originally cultivated in Africa.

Learning that Fresno farmer Wil Scott, former president of the California African American Farmers Association, grew black-eyed peas as well as other legacy crops that are the foundation of a soul food menu, Ravernell was intent on ensuring Scott’s presence at the first festival in 2014. Whenever he could, and whenever the weather yielded a bountiful crop, Scott would bring his black-eyed peas to the festival, shelled or on the pods.

Originally cultivated in Africa, the black-eyed pea is believed to have been brought to the U.S. hidden in the hair of African captives brought to the Western Hemisphere during the holocaust of the Atlantic Slave Trade.

Known to grow plentifully even in poor soil, the pea was associated with abundance in Africa and later, in the U.S., with good luck.

She also learned that black-eyed peas nourish poor soil, that they are a very good source of nutrition, and that they probably contributed to the longevity of the enslaved.

“I thought the black-eyed pea, its story and its significance for Black people made it a great symbol to represent Black culture,” she said. In spite of everything they endured, Black people emerged from slavery and Jim Crow as masters of making a lot from a little, creating a culture that would be emulated and imitated at home and abroad.

Feeling that many people know only the most recent iterations of Black music – Hip Hop and R&B – she created the festival to promote the music of earlier eras, which reflect the thoughts and feelings of Black people over time.

That’s why the festival highlights straight-ahead jazz, gospel, zydeco and the Second Line of the New Orleans jazz funeral.

“It’s not enough to remember,” Ravernell said. “We need to actively nourish the roots of our culture.”

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