by Fenorris Pearson

How is the game played at the top? How do you get there and, once there, how do you stay put? And how, in these trying times where jobs are hard to come by and competition is stiffer than ever, can you ever hope to achieve such lofty goals? These are not questions to ask at the end of a career but at the beginning; these are thoughts to have not upon reflection during your retirement dinner but before deciding to ask for that promotion, leapfrog to another successful company or capitalize on the success you’ve already experienced.

Before starting my own business I was Vice-President of Global Consumer Innovation for Dell, Inc., the 35^th largest corporation on the Fortune 100 list. Prior to joining Dell, Inc., I was Vice-President of Global Organizational Development for Motorola, Inc. Motorola, Inc. is a Fortune 50 global company with revenues over $40 billion. If there’s one thing I’ve learned on my journey to corporate success, it’s this: The rules are different at the top.

Actually, the rules are very different at the top; there is little slack and even less room for errors. Smart people like to work with smart people and don’t suffer fools gladly. When cutting edge technology, name players, new products and billions of dollars are on the line, there is no room for sleepwalkers, jokers or phoning it in. Top performers get to the top by bringing their A-game every time, but now even that isn’t enough.

Today, more than ever, with layoffs a predictable morning headline and gold-standard companies like Circuit City, Steak & Ale, Linens and Things and Sharper Image shutting their doors in 2008, if you’re not firing on all cylinders, you won’t get in the door, let alone into that corner office. Regardless of the tight economy, or perhaps, because of it, companies are still hiring; but only the best. Companies are still promoting but, again, only the best. If you are looking for that entry-level job you can have it; if you have already been working in corporate and want that big promotion you can get it – but not by coasting into position. Rewards come quickly and are still great, but you will have to come fully prepared to work at the top of your game; every day, every time. How?

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by Dr. Boyce Watkins, Syracuse University 

The economic downturn has hurt us all. Black unemployment has been nearly 70% higher than that for white Americans, and the blow is even greater for people of color, since there is less black wealth to fall back on during tough financial times. We must remember, however, that the global recession has literally led to starvation around the world, as there were many citizens who could barely buy food even during the good times.

The IMF’s chief economist, Olivier Blanchard, says the global recession had "left deep scars, which will affect both supply and demand for many years to come." Blanchard also makes the additional point that economic models used to understand past recessions cannot be used to understand this one. When attempting to understand the cyclical nature of African American wealth, the models are even sketchier than they are for the rest of the world.

If you want to understand what happened to our economy, imagine you have a friend who appears to have the flu. The standard flu recovery time is going to be just a few days, so you expect to see them back at it within a week. They then go to the doctor, and it turns out that they have a sinus infection, extending the recovery period at least another week. But instead of coming back to work in 1 – 2 weeks, they are sick for an entire month. Well, this warrants another trip to the doctor, where you find out that the person actually has HIV. This changes the entire treatment strategy, since the short-term problems were nothing more than symptomatic triggers of serious long-term health issues. What’s worse is that with or without serious intervention, the patient may never be completely healthy again.

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Olivier Blanchard, the IMF’s chief economist

August 19, 2009

(RFE/RL) — According to a new report by the International Monetary Fund (IMF), the world has begun to recover from recession but the process will not be simple. And sustaining any recovery will require refocusing the United States toward exports and Asia toward imports.
The IMF’s chief economist, Olivier Blanchard, says the global recession had "left deep scars, which will affect both supply and demand for many years to come."
In a study released this week by the IMF, Blanchard describes the current economic difficulties as not a “run-of-the-mill recession.” He notes that models used to understand past recessions cannot be applied to this economic slowdown. 
Blanchard writes that there are two elements central to a sustained global economic recovery.
First, economies must move beyond their dependence on fiscal stimulus by national governments and inventory building by private firms. Such expenditures must sooner or later come to an end.
Second, international trade patterns should be rebalanced. The United States must export more and Asia must import more. This sought-for equilibrium would lower the enormous U.S. current-account deficit and the Asian current-account surplus. But rebalancing world trade flows is not going to be easy and will depend on a reordering of consumption patterns.

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by Dr. Boyce Watkins, Syracuse University 

Some people think that money and sex have nothing in common. Actually, they have everything in common. The act of merging your assets with another person’s can be an exhilirating process leading to the high of a lifetime, or it can be a devastating and emotionally crippling experience.

In a series of articles, I plan to lay out some examples that explain what sex and money have in common. Follow along, so that you can avoid the mistakes that are made by milions of people every single year.

Sex and Money Comparison Number 1: You could actually get the job done by yourself if you wanted to

No one says that you have to merge your money or your body with another person’s. There is a word we use to describe when someone takes care of his/her own physical needs, and I am not going to say it here. If you are not sure what the word is, then ask your mother, your boyfriend or your priest.

Just as you can take care of your physical needs yourself, the same is true of your financial needs. There’s an old saying "I can be broke all by myself." Thus, the choice to merge finances with another human being is not a choice we have to make. Merging assets with another person is also not a decision that should be taken lightly. It’s a decision you make only if you see potential benefits from the interaction.

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In his video called "Rich N*gga Sh*t" (I can’t even write the title, since I don’t want to pollute the eyes of my readers. Maybe you can fill in the missing letters, like in the TV gameshow "Wheel of Fortune."), the rapper Soulja Boy has worked overtime to set an all-time record for massive hip hop buffoonery. But he’s only 19-years old, so I am going to give him a pass in hopes that he will choose to wise up at some point.

Showing off his new diamond chain that doubles as a remote control toy Lamborghini, the young brother proceeds to wow his audience by pushing the limits of financial extravagance. I’ve seen rappers with chains shaped like the state of New York or jewels that have their names on them, but I have never seen a chain that doubles as a remote control car. When I saw his latest "achievement," I truly felt that he’d lost it. I am not here to say that Soulja Boy has not planned for his financial security, I really hope he has. At the same time, I’ve seen a ton of rappers get wads of dough, only to find themselves broke and spending their lives in the studio trying to create their next breakout hit. Let’s be real: the industry is not here to empower the rappers – it is here to enslave them. Soulja Boy’s comments about giving "big ups" to slave masters (for bringing black people to America) should have been saved for the slave masters in the recording industry who control his destiny right now.

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by Dr. Boyce Watkins, Syracuse University

OK, was I confused when I found out that Tiny and Toya (TI’s "baby mama" and Lil Wayne’s ex-wife, respectively) were being given a reality show on BET? Yeah, I was a little surprised. If only I could find a way to become a high profile baby mama — that seems to be the way to go. With my being a man, I guess that might be difficult to accomplish. All jokes aside, I watched this show with tremendous curiosity, as I think we can all learn from observing the thought patterns of those who live behind the scenes of our favorite celebs. Part of me feels sorry for both of these women, who seem to be desperately fighting their way out of the massive shadows being cast by the powerful men in their lives. Even the daughters of TI and Lil Weezy are trying to get their own reality show. Maybe they too are feeling the weight of their daddies’ collective fame. Why don’t we just give a reality show to the family dog? Now that would be hot!

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Beyonce has a song about how she loves men with "big egos." This might imply that she likes men with confidence. Confidence matters a great deal in terms of male/female attraction, but believe it or not, it actually impacts our economy. Every month, the University of Michigan measures consumer confidence, to determine if Americans are willing to spend money and how they feel about their current and future economic security.

But you might ask, "Why would I care about confidence, since it’s only psychological and imaginary?" Good question. Actually, confidence is a psychological phenomenon which leads to very real impacts on our choices and behavior. A confident man who asks out every girl he meets will probably have more mating opportunities than a good looking guy who doesn’t open his mouth. A confident consumer is someone who feels good about his/her economic situation and therefore decides to spend money, which is always good for the economy. Confident companies make investments and hire new employees, but insecure companies put projects on hold and don’t hire anyone. Confident banks make loans, but nervous banks hold onto their capital, thus slowing down economic growth for the nation.

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by Dr. Boyce Watkins

Syracuse University

I am a curious professor, a compassionate capitalist and the owner of a small business. All of these hats create a complex perspective on whether or not it is a good idea to increase the minimum wage. After all, we are in a recession, and one might be tempted to argue that any sort of pay increase would slow down our nation’s economic recovery, eliminate jobs, and significantly reduce corporate profitability.

Sorry to burst those bubbles, but the data don’t validate most of the above concerns.
First of all, the minimum wage was introduced during the Great Depression, the mother of all economic downturns. The Fair Labor Standards Act of 1938 was designed to ensure that the most vulnerable Americans were no longer going to be exploited by the power of big business. The Great Depression came to an end shortly thereafter, and there is no evidence that it slowed down the economic recovery in any significant way.

Secondly, the budgetary implications of minimum wage increases are not very large. According to the Bureau of Labor Statistics, only 2 percent of all men and 3.6 percent of all women currently earn the minimum wage. But while the impact on our national budget is small, the gains for those affected are tremendous: there are nearly 5 million children in families who earn the minimum wage, and nearly all of these children are going to have better lives in the advent of an increase.

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Dr. Boyce Watkins of Syracuse University speaks with Free on Power 105.1 about Financial Lovemaking.  Click here to listen to the interview!

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