March 14, 2016 |
Among the country's big Wall Street firms, senior-level African Americans financial advisers are rare, says Ajamu Loving. And he would know, being an adviser of color with a doctorate in financial planning. "I heard 7 percent of astronauts who traveled into space were black," says Loving, recalling an event featuring African American astronaut Leland Melvin in Tampa, Fla., last year. "It struck me that was better than the number of financial planners of color. " It's a stark reminder for a community that's challenged by the lack of diversity and a wealth gap, but that has the same need as everyone to save for retirement.
August 16, 2013
FIFTY YEARS AGO this month, on Aug. 28, 1963, Martin Luther King Jr. led a March on Washington that focused in part on economic equality. "The Negro lives on a lonely island of poverty in the midst of a vast ocean of material prosperity," King said that day. Fifty years later, the income and wealth gap for minorities is still wide and troubling. The median wealth of white households is 20 times that of black households and 18 times that of Hispanic households, according to the Pew Research Center.
June 11, 2012 |
One of the most destructive trends in our nation today is the growth of income inequality. The increasing concentration of wealth, the shrinking of the middle class, and the growing number of people who are working but still poor threaten prosperity and undermine democracy. The frustration about this is palpable among many in my district. But the problem is so vast that many aren't sure how it can be addressed. Unions, it turns out, are part of the answer. I recently learned of a struggling working mother in my district.
January 29, 2012 |
Mitt Romney's run for the presidency has highlighted the widening gulf between the nation's haves and have-nots. As a founder in the 1980s of Bain Capital - among the nation's most prominent private-equity firms - Romney became extremely wealthy. As his tax returns show, he continues to receive tens of millions of dollars each year in returns on his investments. As Romney rightly argues, he has nothing to apologize for - his success reflects his talent and gives him real credibility when discussing the economy.
December 1, 2011 |
THE FLYERS are ranked the eighth-most valuable NHL franchise by Forbes magazine with a worth of $290 million. That represents a decline from last year, when the Flyers were ranked sixth, at $301 million. Forbes ranked the Toronto Maple Leafs as the most valuable NHL franchise with a worth of $521 million. Forbes reported the average team value hit a record $240 million, while operating income fell 21 percent due to soaring player salaries. Hockey's wealth gap is widening: 18 of the 30 teams are losing money while top markets like Toronto, New York City and Montreal see their values rising, thanks to ticket revenue and cable television deals.
November 21, 2011
By David A. Love Several recent reports demonstrate that the widening national inequality that has been the focus of the Occupy movement is not an illusion. A new report from the Bertelsmann Foundation shows that it is harder to climb the economic ladder in America than in nearly any other country in the developed world. Of the 31 countries surveyed, the United States ranked an astonishing 27th. Meanwhile, a study by the Congressional Budget Office found that the United States has become substantially more unequal over the past several decades.
November 8, 2011 |
WASHINGTON - The wealth gap between younger and older Americans has stretched to the widest on record, worsened by a prolonged economic downturn that has wiped out job opportunities for young adults and saddled them with housing and college debt. According to a Pew Research Center analysis of census data, released Monday, the median net worth among U.S. households headed by a person age 65 or older was 47 times greater than that of the median household headed by someone under 35. While people typically accumulate assets as they age, this gap is now more than double what it was in 2005 and nearly five times the 10-to-1 disparity a quarter-century ago, after adjusting for inflation.
September 22, 2011 |
KEVIN COLEMAN doesn't need a thick, glossy report from the Pew Research Center to tell him that the wealth of black families in America has decreased sharply since the middle of the 2000s. He's lived it. The Philadelphia man raised five kids as a single dad after a bad marriage to a woman who struggled with drug addiction, and he even saved enough in a 15-year run as a full-time cable-TV installer to finally buy a home in Olney in 2006 - right at the peak of the housing boom. Then came the crash of 2008, and Coleman lost his job. Within a matter of months, he'd lost the home as well - to foreclosure - and thus any equity he'd accumulated on the house.
July 26, 2011 |
WASHINGTON - The wealth gaps between whites and minorities have grown to their widest levels in a quarter-century. The overall gap between rich and poor also widened, according to an analysis of census data. The Pew Research Center's Social & Demographic Trends project looked at U.S. Census data and found that the recession and uneven recovery had erased decades of minority gains, leaving whites on average with 20 times the net worth of blacks and 18 times that of Hispanics. The analysis offers the most direct government evidence yet of the disparity between predominantly younger minorities, whose main asset is their home, and older whites, who are more likely to have 401(k)
November 23, 2006
A deadly dish Re: "The soul of a Southern Thanksgiving," Nov. 16: Delilah Winder is doing her best to commit murder or perhaps death by suicide if anyone eats her macaroni and cheese. The sound we hear coming from her restaurant is not music, but arteries clogging. The dish has more than 58 grams of fat and 800 calories per serving! No wonder so many people are obese and diabetic, with high blood pressure. That recipe was mind-boggling. Please, let no one make this dish. Judy Filipkowski Wilmington Eakins would agree Brian Harrison, from Thomas Jefferson University, has put up a pragmatic argument for the good that can be accomplished for the school by selling Thomas Eakins' The Gross Clinic, allowing Jefferson to expand its facilities ("Symbol and conduit of Jeff's mission," Nov. 16)