Economy
SoLa Impact’s Annual Scholarship Awards Ceremony Concludes at USC
LOS ANGELES SENTINEL — SoLa Impact and its non-profit affiliate, the SoLa I CAN! Foundation, along with its philanthropic partner, Romeo Miller, awarded nearly $100,000 in financial aid grants to twenty-seven deserving students at its annual scholarship awards ceremony yesterday held at the University of Southern California. All of the recipients demonstrated academic excellence, strong community service, and plan to pursue higher education in the fall. Among friends and family of the SoLa Scholars as well as leaders in philanthropy, entertainer Romeo Miller, producer Arabian Prince, and Los Angeles County Supervisor Mark Ridley-Thomas, all spoke about their strong connection to the community.
SoLa Impact and its non-profit affiliate, the SoLa I CAN! Foundation, along with its philanthropic partner, Romeo Miller, awarded nearly $100,000 in financial aid grants to twenty-seven deserving students at its annual scholarship awards ceremony yesterday held at the University of Southern California. All of the recipients demonstrated academic excellence, strong community service, and plan to pursue higher education in the fall. Among friends and family of the SoLa Scholars as well as leaders in philanthropy, entertainer Romeo Miller, producer Arabian Prince, and Los Angeles County Supervisor Mark Ridley-Thomas, all spoke about their strong connection to the community.
“We are very proud to provide much-needed financial aid to these aspiring students that would help them pursue higher education and break the cycle of poverty,” said Sherri Francois, Director of Social Impact at SoLa. “There is still much work to be done for the South LA community, but we are confident that our Scholars program will continue to encourage residents to achieve their dreams.”
SoLa had initially granted $67,500 in financial aid, but Miller later pledged an additional $1,000 to each student’s SoLa scholarship, bringing the night’s grand total to $94,500.
“As I listened to the compelling and heartfelt stories of the more than deserving scholarship recipients, I realized how blessed I am and wanted to do something to celebrate and motivate them to stay their course of success,” shared Romeo Miller.
At the ceremony, SoLa Impact also shared powerful videos describing the obstacles and hardships each recipient had to overcome. Among the SoLa Scholars: roughly ninety percent are from low-income families; fourteen are the first in their families to attend college; eight have experienced homelessness or were in the foster-care system; four are system involved or have an incarcerated parent; three are single mothers; and several have escaped domestic violence or gang violence on the streets.
“SoLa Impact is going way beyond providing critical affordable housing across South Los Angeles,” said Los Angeles County Supervisor Mark Ridley-Thomas. “They are enabling young college-bound residents to dream big, while inspiring them to give back to the community from which they came.”
“Our non-profit affiliate, SoLa I CAN!, continues to extend the mission of SoLa Impact, which is focused on uplifting the communities in which we operate,” said Martin Muoto, Founder and Managing Partner of SoLa Impact. “The SoLa Scholars program will help enable our young residents to receive quality education and job opportunities regardless of where they started in life.”
This article originally appeared in the Los Angeles Sentinel.
Business
Black Business Summit Focuses on Equity, Access and Data
The California African American Chamber of Commerce hosted its second annual “State of the California African American Economy Summit,” with the aim of bolstering Black economic influence through education and fellowship. Held Jan. 24 to Jan. 25 at the Westin Los Angeles Airport Hotel, the convention brought together some of the most influential Black business leaders, policy makers and economic thinkers in the state. The discussions focused on a wide range of economic topics pertinent to California’s African American business community, including policy, government contracts, and equity, and more.
By Solomon O. Smith, California Black Media
The California African American Chamber of Commerce hosted its second annual “State of the California African American Economy Summit,” with the aim of bolstering Black economic influence through education and fellowship.
Held Jan. 24 to Jan. 25 at the Westin Los Angeles Airport Hotel, the convention brought together some of the most influential Black business leaders, policy makers and economic thinkers in the state. The discussions focused on a wide range of economic topics pertinent to California’s African American business community, including policy, government contracts, and equity, and more.
Toks Omishakin, Secretary of the California State Transportation Agency (CALSTA) was a guest at the event. He told attendees about his department’s efforts to increase access for Black business owners.
“One thing I’m taking away from this for sure is we’re going to have to do a better job of connecting through your chambers of all these opportunities of billions of dollars that are coming down the pike. I’m honestly disappointed that people don’t know, so we’ll do better,” said Omishakin.
Lueathel Seawood, the president of the African American Chamber of Commerce of San Joaquin County, expressed frustration with obtaining federal contracts for small businesses, and completing the process. She observed that once a small business was certified as DBE, a Disadvantaged Business Enterprises, there was little help getting to the next step.
Omishakin admitted there is more work to be done to help them complete the process and include them in upcoming projects. However, the high-speed rail system expansion by the California High-Speed Rail Authority has set a goal of 30% participation from small businesses — only 10 percent is set aside for DBE.
The importance of Diversity, Equity and Inclusion (DEI) in economics was reinforced during the “State of the California Economy” talk led by author and economist Julianne Malveaux, and Anthony Asadullah Samad, Executive Director of the Mervyn Dymally African American Political and Economic Institute (MDAAPEI) at California State University, Dominguez Hills.
Assaults on DEI disproportionately affect women of color and Black women, according to Malveaux. When asked what role the loss of DEI might serve in economics, she suggested a more sinister purpose.
“The genesis of all this is anti-blackness. So, your question about how this fits into the economy is economic exclusion, that essentially has been promoted as public policy,” said Malveaux.
The most anticipated speaker at the event was Janice Bryant Howroyd known affectionately to her peers as “JBH.” She is one of the first Black women to run and own a multi-billion-dollar company. Her company ActOne Group, is one of the largest, and most recognized, hiring, staffing and human resources firms in the world. She is the author of “Acting Up” and has a profile on Forbes.
Chairman of the board of directors of the California African American Chamber of Commerce, Timothy Alan Simon, a lawyer and the first Black Appointments Secretary in the Office of the Governor of California, moderated. They discussed the state of Black entrepreneurship in the country and Howroyd gave advice to other business owners.
“We look to inspire and educate,” said Howroyd. “Inspiration is great but when I’ve got people’s attention, I want to teach them something.”
Bay Area
Port of Oakland Commission Votes to Change Oakland Airport to ‘San Francisco Bay Oakland International Airport’
The Port of Oakland Commission voted unanimously to change the name of Metropolitan Oakland International Airport to San Francisco Bay Oakland International Airport at a commission meeting Thursday afternoon. The Port initially announced the name change on March 29, claiming that the change will attract more passengers and enhance the airport’s visibility. They contend that the airport often gets neglected by the public’s lack of knowledge of Oakland’s proximity to San Francisco.
By Magaly Muñoz
The Port of Oakland Commission voted unanimously to change the name of Metropolitan Oakland International Airport to San Francisco Bay Oakland International Airport at a commission meeting Thursday afternoon.
The Port initially announced the name change on March 29, claiming that the change will attract more passengers and enhance the airport’s visibility. They contend that the airport often gets neglected by the public’s lack of knowledge of Oakland’s proximity to San Francisco.
“We want people to know where Oakland is and how beautiful our city is. We want them to visit, we want them to spend their money, and we want to keep our money into our local economy,” Port Commission President Barbara Leslie said at the meeting.
The commissioners shared anecdotal experiences and research to explain how this new name change will elevate and add to the growth of Oakland, not take away from their Bay Area neighbors.
The Port claimed that local residents had been asking for more options in domestic and international flights, but in order to do that, outside travelers need to be aware of Oakland’s presence first.
Since the announcement of the new name, San Francisco leaders strongly opposed the suggestion for a change, the City Attorney going as far as threatening legal action.
SF City Attorney David Chiu announced Monday that his team sent a letter to the Port of Oakland, writing that if Oakland goes forward with the name change, the city will go forward with a lawsuit to prevent the use of their trademarked name.
San Francisco owns U.S. federal trademark registrations for the marks “San Francisco International Airport”, the letter says.
Chiu further claimed that the name change will only cause confusion and chaos for travelers who are used to seeing the San Francisco name in the SFO trademark.
“We want to see the entire Bay Area thrive as a tourist destination and expand our offerings to visitors, but this proposal is not a legal or practical way to go about it. If Oakland moves forward with this proposal, San Francisco will pursue legal action to prevent misuse of our trademark,” Chiu said.
SF Mayor London Breed joined Chiu’s letter, stating that Oakland does not need to add the internationally popular city to its brand in order to grow its services.
“[Oakland] is rich in culture and wonderful people and has its own unique identity. It does not need the name San Francisco as part of its airport to stand out,” Breed wrote.
The Port defended its proposed actions, saying that if the vote did go forward, they would “take all appropriate measures to defend its right to use this accurate geographic identifier.”
“The proposed name modification will clarify, not confuse. The new name identifies where OAK is actually located, which is on the San Francisco Bay,” a spokesperson said on behalf of the Port.
Support for the name change extends beyond the Port. Several regional leaders, airlines and community members have come out in support of the name change, including Oakland Mayor Sheng Thao.
“This adjustment isn’t just about signage—it’s about inviting travelers to discover all that Oakland and the region have to offer. From our local dining scene to unique shopping spots and cozy hotels, there’s something here for everyone. Let’s work together to ensure that Oakland Airport continues to serve as a welcoming gateway for visitors and a source of pride for our community,” Thao said.
Because of public outcry amongst residents and leaders in Oakland and San Francisco before and during the Commission meeting, the Board decided to extend the second reading for the proposed name change from the end of April to the first meeting in May. This decision will allow commissioners to connect with community groups and leaders over their concerns for the change.
The Port Commission is scheduled to hold a second reading of the proposed name change on May 9.
Business
V.P. Kamala Harris: Americans With Criminal Records Will Soon Be Eligible for SBA Loans
Speaking in Las Vegas on Jan. 27, Vice President Kamala Harris announced a forthcoming federal rule that will extend access to Small Business Administration (SBA) loans to Americans who have been convicted of felonies but have served their time. Small business owners typically apply for the SBA loans to start or sustain their businesses.
By California Black Media
Speaking in Las Vegas on Jan. 27, Vice President Kamala Harris announced a forthcoming federal rule that will extend access to Small Business Administration (SBA) loans to Americans who have been convicted of felonies but have served their time.
Small business owners typically apply for the SBA loans to start or sustain their businesses.
Harris thanked U.S. Rep. Steven Horsford (D-NV-04), the chair of the Congressional Black Caucus, for the work he has done in Washington to support small businesses and to invest in people.
“He and I spent some time this afternoon with business leaders and small business leaders here in Nevada. The work you have been doing to invest in community and to invest in the ambition and natural capacity of communities has been exceptional,” Harris said, speaking to a crowd of a few hundred people at the Brotherhood of Electrical Workers Hall in East Las Vegas.
On her daylong trip, Harris was joined by Horford, SBA Administrator Isabella Guzman, Interim Under Secretary of Commerce for Minority Business Development Agency (MBDA) Eric Morrissette, and Sen. Catherine Cortez Masto (D-Nev).
“Formerly incarcerated individuals face significant barriers to economic opportunity once they leave prison and return to the community, with an unemployment rate among the population of more than 27%,” the White House press release continued. “Today’s announcement builds on the Vice President’s work to increase access to capital. Research finds that entrepreneurship can reduce recidivism for unemployed formerly incarcerated individuals by as much as 30%.”
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