bottom line - National Black MBA Association Metro New York Chapter

NBMBAA Newsletter
Volume 3
August 2009
NATIONAL
BLACK
mba
ASSOCIATION, INC.
N ewY ork
METRO
The
BOTTOM LINE
President’s message:
Editor’s note:
Summer Time!
Summer is in full swing and I am sure
everyone has been busy with the various
aspects of life. Whether it is work,
looking for work, family, or friends, I
hope you were able to attend Metro NY
chapter events!
In April, the Chapter successfully
presented “Main St. Meets Wall St. Addressing the Most Unprecedented
Economic Time of a Generation”,
which was sponsored by Merrill Lynch’s
Wealth Management Group - The
Barth/Wolf Group, one of our Platinum
corporate partners, (see page five).
Chapter members also showed their
pride and participated in two volunteer
efforts this spring. Georgette Gooden,
Marketing Team member, participated
in April’s “NY Cares Day” and describes
her experience at this heartwarming event
on page four. A small team of Chapter
members and friends participated in the
GMHC’s “AIDS Walk New York” in
May…and we have pictures to prove it!
(See page eight).
(Editor’s Message continued on page 2)
The CEO Roundtable
Is Almost Here…
Register now.
Managing Your Executive Career In
New York
I hope that each of you are enjoying your summer and are
gearing-up for a productive Fall. I look forward to seeing you
at our upcoming events which I believe will support you in
further developing your professional network. Our August
CEO Round Table Panel Discussion and Reception and
November Career Networking Forum, sponsored with our
corporate partners, will focus on managing your executive career
in the New York market.
The Metro New York job market – We are well into Q3 2009
and we are still experiencing record levels of unemployment in
New York. Many senior executives are finding themselves out
of work with limited options for transition. The solution for many has been to tap their
“network” for job leads with the hope of surfacing an inside advantage for a posted job
position or to be in the “pipeline” when a position opens. Over the past 20 months, I have
interacted with several Chapter members who have taken positions at 30%+ reduction in
pay and title. The thought is to step back in level and salary to avoid gaps in employment
and to ensure cash flow. This is happening at all experience levels—including the
20+year veterans in industry. What many are experiencing is not necessarily the result of
transitioning to a new industry or job function—many people are staying in their same lines
of work but assuming reduced salary, title and benefits.
The Bigger Picture– New York based companies have been seriously impacted by the
past 20+ months of global events within the financial services market. Many New York
Industry leaders are more engaged in complex, rapid transactions, cross borders and sectors,
in an effort to gain or sustain market position. Corporations are aggressively re-focusing
their business strategies and objectives and realigning their organizations. New operating
models are designed to maximize synergies and optimize merger integration. Operations are
aligned for future cost synergies and geographical footprint changes—and that has meant
job loss for thousands of New York professionals.
Managing our Careers– as bright MBAs what do we do to ride out the bad economy,
protect our financial assets and credit standing? How do we manage our egos (yes, MBAs
(President’s Message continued on page 2)
NBMBAA - Metro New York Chapter | P.O. Box 8135, New York, NY 10116 | 917.881.4683 | www.nyblackmba.com
(Editor’s Message continued)
(President’s Message continued)
Hopefully, even with all of this activity, you managed to enjoy the
first half of the baseball season! We wanted to take a closer look
at this American pastime. To give you some insight regarding our
rich history. As such we are honored to have Wendy Lewis, the
Senior Vice President, Diversity and Strategic Alliances for Major
League Baseball, and Metro NY Chapter member, submit “MLB…
It’s More Than a Game!”, (see page three), to this edition of “The
Bottom Line”! Please enjoy reading about the contributions of The
Negro Leagues, Jackie Robinson and Branch Rickey to this game
and diversity initiatives in today’s Major League Baseball.
have egos) and emotional stress as we may have to rely on people
returning our phone calls. Can one step back in title and level
and not have it impact you in terms of your longer-term career
progression? What entrepreneurial opportunities exist as viable
alternative career options? Is it as simple as hanging a shingle
“consultant” while we transition or should we re-tool as six-sigma
black belts, go back to school, supplement our net income or job
experience by joining a corporate board, or hire a career coach? It
may very well be a combination of these actions in addition to
working on your own personal brand and marketing your skills
differently for a reduced number of available jobs.
Last, we invite all of you and your friends to The Times Center
on August 25th to enjoy our CEO/Executive Development
Roundtable Discussion & Cocktail Reception. All of the proceeds
will benefit our Scholarship Fund and we are privileged to
have The New York Times Company as our host, and Janet L.
Robinson, President & CEO of The New York Times Company
and Deborah C. Wright, President & CEO of Carver Bancorp, as
confirmed panelists. There will be opportunities to network both
before and after the event and Merrill Lynch’s Wealth Management
Group - The Barth/Wolf Group, will provide cocktails and light
refreshments! Please see the attached flyer for details and join us in
August but please note…you must RSVP to attend.
Please enjoy the third issue of “The Bottom Line”. If you are
interested in contributing an article to the fourth issue, please feel
free to contact us at [email protected].
Enjoy the rest of the summer and we look forward to seeing you at
upcoming events!
A perfect summer day is when the sun
is shining, the breeze is blowing, the
birds are singing, and the lawn mower
is broken.
–James Dent, Author
Contribute to “The Bottom Line”
and/or join the Public Relations
Team.
[email protected]
2 The Bottom Line Newsletter | August 2009
Knowing our Value in this Market— As African American
executives are there unique challenges that we face as we
transition? The statistics show African Americas being impacted
disproportionately by job layoffs. However, we should remain
encouraged. Progressive corporations understand that a diverse
workforce is still a critical business imperative. Many of those
companies are partners of our Organization and committed to
riding through the economic storm with us in New York through
a combination of both financial and programming support for our
executive development. Our Chapter is committed to tapping
those corporate partner resources.
You Are Not Alone— As I look back personally on my Presidency
and Vice Presidency with the Chapter and recall the 2001
challenges facing our members—I can see many parallels to our
current job market that we were able to overcome. We can. We
did. And, we will again look to our collective strengths as a
community and a united network of professionals to support each
other in New York.
I would like to personally invite you to join me on August 25,
2009 at the Time Warner Center for our CEO Roundtable
Panel Discussion as we address these critical questions and issues
together. The panel discussion is a rare opportunity to hear
from two New York Corporate CEOs in media/ technology and
financial services sectors: Ms. Janet Robinson of the New York
Times and Ms. Deborah C. Wright of Carver Bank (Merrill
Lynch). This event is designed to provide an opportunity for
post-panel discussion networking with 300+invited corporate
partners and Chapter members in an informal setting.
You can RSVP at www.nyblackmba.org, with all proceeds
benefitting our 2009 Scholarship Fund. Even if you work outside
of these industries you will gain personally from attending the
event. In addition, I would also like to invite you to maximize
our collective network and join the Metro New York Chapter
NBMBAA , Inc. social networking group on Linkedin at www.
linkedin.com. A formal invitation link to the Group will be sent
within the next week or so.
I look forward to seeing you soon. Please let me know if I can be
of any assistance to you. Contact me at President@nyblackmba.
org. Please enjoy this edition of The Bottom Line.
Major League Baseball...
It’s More Than A Game!
By Wendy Lewis, Senior Vice President, Diversity and Strategic Alliances for Major
League Baseball and member of the Metro New York Chapter of the NBMBAA
In 1947, Jack Roosevelt Robinson changed the playing field of
baseball and the landscape of America forever. April 15, 1947,
was the date that Jackie Robinson would play professionally
in the Major Leagues as a Brooklyn Dodger. Though many
credit Jackie Robinson as being the first African American in
the Major Leagues, many traveled that road before him within
the earlier stages of organized professional baseball. One of
those noteworthy athletes was Moses “Fleetwood” Walker who
in 1884 played with the Toledo Blue Stockings. The playing
career of Moses and others would be short lived due to the “Gentleman’s Agreement of
1890”, a discreetly imposed agreement of segregation. This agreement would put an
end to the integration of the game and would last for over 50 years.
In 1947, the American dream was separated by race in all aspects of life namely
housing, education, business, social services, recreation, and most profoundly…the
military. The economic impact of our country’s segregation is priceless. However,
one of the most fondly remembered, successful and viable business of the day was the
Negro Leagues. The Negro Leagues was an institution of organized leagues of primarily
African American, but also Hispanic and Native American players. The Leagues
were extremely competitive, unquestionably talented and overwhelmingly revenue
generating. Jackie Robinson was a member of one of the most successful Negro
League franchises, The Kansas City Monarchs.
Business was good and not unnoticed. The innovative and entrepreneurial Branch
Rickey of the Brooklyn Dodgers is well-known for signing Roberto Clemente, and
of course, Jackie Robinson, to his Minor League contract with the Montreal Royals.
That signing would lead to America’s April 15 date with destiny. One of Mr.. Rickey’s
famous quotes is: “Luck is the residue of opportunity and design.” Similarly, one
of Jackie Robinson’s most famous quotes is: “A life is not important except in the
impact that it has on other lives.” Rickey’s and Robinson’s revolutionary “Gentleman’s
Agreement of 1945”, would become one of the most extraordinary business cases for
diversity ever realized. The good news was that the color barrier was broken and the
players of color slowly but surely arrived at their long-awaited Major League status. As
baseball became more integrated, the profitability of game became vast. Eventually,
the profitability of the Major Leagues attributed to the decline of the profitability of
the Negro Leagues (The business model for the Negro Leagues had changed which
closed for business by 1962).
Diversity remains an integral component of the business of Major League Baseball;
it is a part of Major League Baseball’s history and the history of this country. We
all have come a mighty long way, but we recognize there is much more to come.
Vision, leadership, strategy, perseverance and returns to the stakeholder’s values of
(Continued on Page 4)
Ethnic prejudice has no place in sports, and
baseball must recognize that truth if it is to
maintain stature as a national game.
– Wesley Branch Rickey, Major League Baseball Executive
August 2009 | The Bottom Line Newsletter 3
(Continued from Page 3)
the franchises and their communities were essential to the sport’s
historic individuals, ideals, and institutions of the past and remain
essential today. Many, myself included, selfishly consider some
MLB’s diversity initiatives to be groundbreaking and those of us in
the game embrace the responsibilities that are required for success.
A few of those initiatives are:
•
•
•
•
•
•
•
•
The expansion of Commissioner Selig’s Diversity
Oversight Committee
The Diverse Business Partners Program, DBP
The Diversity Economic Impact Engagements, DEIE
The Executive Development Program
The Urban Youth Academies
Reviving Baseball in the Inner Cities Program , RBI
The Baseball Tomorrow Fund
The World Baseball Classic!
These initiatives are leadership models that promote diversity,
economic impact, and the growth of the game. For more
information and your invitation to participate, visit us at MLB.
com.
“THIS IS BEYOND BASEBALL” is MLB’s new tag line…
enough said!
New York Cares Day 2009!
By Georgette Gooden, Marketing Committee member
The 15th Annual Hands on New York Day
was held on Saturday, April 25, 2009, as the
culmination to National Volunteer Week.
On that sweltering hot day, approximately
5,000 volunteers converged to revitalize
over 75 New York City parks, gardens,
playgrounds, community centers, and
schools.
The event was led by the Director of Community Relations and
Economic Development, George C, Stills, who thought it was
exciting and fulfilling to be out working with the members of such a
great chapter [as well as] being able to meet other professionals.
As a novice reporter, I thought it was best to stick to the tried
and true methods of journalism 101 so was able to garner
the all-important reasons for such an auspicious event via
the Five Ws news style. The Event Overview on the website,
www.handsonnewyorkday.org, highlighted the premise of the
organization and what the event was all about:
What: A day of volunteering, fundraising, and fun
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4 The Bottom Line Newsletter | August 2009
Where: Over 75 parks, gardens, playgrounds, community centers, and schools across the five boroughs
When: Saturday, April 25, from 9:30AM – 3:00PM
Why: Raise money to support New York Cares year-round programming and give our city a spring-cleaning
How: By volunteering, fundraising, or making a donation
The Who, I quickly understood to mean everyone one of us –
and as a New Yorker, the idea resonated close to home and I was
compelled to inundate all my email and Facebook friends to
support me in my effort to raise money for such a worthy cause.
The Metro New York Chapter added positive energy as they quickly
jumped on board in beautifying Harlem’s Marcus Garvey Park.
The day was spent painting, bonding, and enjoying the occasional
interruptions from the people in the neighborhood who wanted to
express their gratitude.
(Continued on Page 5)
Discover why some of the richest people
in the world are not millionaires, they are
volunteers.
– Author Unknown
(Continued from Page 4)
The underlying responsibility of each and every one of us to
give back to our community was reinforced by the ability
of New York Cares and our Chapter to impact the very
essence of the communities we live in. In the 2nd issue of
“The Bottom Line”, our Chapter president encouraged us to
consider volunteerism. We embraced New York Cares, because
we strive to reach out to alternate organizations, in order, to
participate in the community.
Through the diligent effort of all the volunteers, New York
Cares was able to raise over $130,000 dollars, which “supports
a wide range of ongoing volunteer programs that address
immediate needs and build foundations for a brighter future
for more than 450,000 struggling New Yorkers. This is done by:
•
Preparing the city’s least privileged high school students to
take the SAT.
•
Providing workforce development skills to adults and
teens.
•
Practicing critical reading and math skills with homeless
children.
•
Assisting low-income New Yorkers with filing their tax
returns.
•
Spending time with isolated seniors.
•
Helping recent immigrants hone their English language
skills.
•
Preparing and serving nourishing meals to thousands of
hungry New Yorkers.
So for the individuals who raised money or participated on the
day of the event – hats off and KUDOS for a job well done. I
look forward to seeing you in 2010.
Service to others is the rent you pay
for your room here on Earth.
– Muhammad Ali, Three-time World
Heavyweight Champion
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with a friend or a potential
chapter member. Click here
Merrill Lynch’s Barth/Wolf Group
And The Metro NY Chapter Provide
Financial Insight For This Economy
By Cassandra Nettles, Editor
On Thursday, April 30, 2009, Merrill Lynch’s Wealth Management
Group–The Barth/Wolf Group, one of our Platinum corporate partners,
and The Metro NY Chapter of the NBMBAA, joined together to
present “Main St. Meets Wall St. – Addressing the Most Unprecedented
Economic Time of a Generation”. About seventy members and chapter
friends gathered at Merrill Lynch’s Fifth Avenue Financial Center,
enjoyed a catered spread, (thank you Merrill Lynch!), networked and
then settled in for an evening of frank, insightful and yet lighthearted
discussion about the state of the U.S. economy.
The panel consisted of three professionals who are immersed in the
world of finance.
The first speaker was Bruce G. Barth, CFP, CRPC, Senior Vice
President of Investments and Wealth Management Advisor and a
founding partner of the Barth/Wolf Group at Merrill Lynch. Mr. Barth
provided an overview of the financial crisis in layman’s terms and gave
his opinion regarding the potential future of the U.S. economy.
The second panelist was Craig Blessing, Director of Fixed Income at
Black Rock. Mr. Blessing provided a relatively technical description of
what went wrong in the finance world and the creation of the current
economic conditions, including a discussion of Leverage Buyout Firms
and Hedge Funds.
The third panelist was Lesia Bates-Moss, President of Seedco Financial,
a national non-profit organization that provides affordable financing
and comprehensive technical assistance to non-profit and for-profit
organizations situated in economically-distressed and traditionally
underserved communities. Ms. Bates-Moss provided a look at where
the country is going today in the Real Estate sector and mentioned
potential silver linings in this economy, including opportunities for
investment and the funding and support available for clean energy
projects.
This discussion was expertly moderated by Andrew T. Carr, the
Executive Vice President of Rainbow/PUSH Wall Street Project, an
initiative of the Citizenship Education Fund, a non-profit organization
founded by Rev. Jesse L. Jackson, Sr. Mr. Carr’s knowledge, insight,
and humor enabled him to serve as the perfect intermediary between
the panelists and audience. His questions to the panelists and
engagement of the audience resulted in a discussion among friends
versus a finance lecture. George C. Stills, Chair of the Communications and Economic
Development committee, “thanks Andrew Hamilton, (member),
and Chuck Roberts, (Marketing Chairperson), for their dedication
and commitment to the Community Relations and Economic
Development Committee and for their assistance in organizing this
event. This is a chapter in an ongoing series of informational sessions
(Continued on Page 6)
August 2009 | The Bottom Line Newsletter 5
(Continued from Page 5)
The 2009 Executive Board members are:
that will continue to address the conditions of personal finance
and economic awareness. We are all living through one of the
most unprecedented economic times of a generation. The current
financial crisis continues even though it may not be in the
headlines every night. We are all still directly or in-directly being
affected personally and professionally. I would encourage everyone
to seek help from a professional advisor and continue to have
dialogue with family in order to be informed and prepared. The
people will perish from a lack of information, knowledge, and
action!”
Officers:
President – Frances W. Ferguson
Vice President – Administration – Candace Howell
Vice President – Operations - Cherrie Illidge-McKenna
Vice President – Communications – Michelle Paterson
Treasurer – Joe McKenna
Recording Secretary – Yasmin Campbell
Please visit _George C. Stills, Jr. at www.axa-advisors.com or e-mail
him at [email protected] for more information in
regards to how you can plan for retirement.
Only when the tide goes out do you
discover whose been swimming naked.
– Warren Buffett, Investor, Businessman and
Philanthropist
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6 The Bottom Line Newsletter | August 2009
Directors:
Community Relations and Economic Development –
George C . Stills
Corporate Relations - Thyrsa Gravely
Cultural Affairs – Candace Howell
Leaders / CASH Program – Tyrone Scott
Marketing – Chuck Roberts
Membership – Ermine Smith
Programs – Fred Riley
Public Relations – Constance Diane
Student Relations – Rosalind Murphy
Web Marketing – Chuck Roberts
Webmaster – Alexis Perry
A Special Thanks to our Corporate Partners:
Platinum Member
Gold Members
Silver Members
Click on the above logos for more information about our corporate partners
August 2009 | The Bottom Line Newsletter 7
NATIONAL
BLACK
mba
AIDS
ASSOCIATION, INC.
N ewY ork
METRO
WALK
Team Name:
“National Black MBA
- New York Chapter
AIDS Walk 2009.”
A Fundraising
Walkathon
starting and
ending in
Central Park
NEW YORK
MAY 17, 2009
A special thank
you to all who
participated in
this event!
Major Sponsors
Hint • NewYork-Presbyterian Hospital
OraSure Technologies, Inc. • PepsiCo
Target • VIACOM/MTV Networks
Supporting Sponsors
1-800-GOT-JUNK? • Deutsche Bank
Polo Ralph Lauren Foundation
Whole Foods Market
Event Sponsors
1010 WINS • 93.1 Amor FM/Mega 97.9 FM
Affinia Hotels • Chelsea Art Museum
Kenneth Cole Productions, Inc.
Paris Commune Restaurant
Roosevelt Hotel New York
Shoreham Hotel • The Vitamin Shoppe
Benefiting
and other tri-state area
AIDS service organizations.
In Cooperation with
City of New York Parks
& Recreation
Created and produced by MZA Events.
AIDS Walk Founder/Producer: Craig R. Miller.
© MZA Events, 2009
Printed on Recycled Paper
8 The Bottom Line Newsletter | August 2009
R.I.P. Michael Jackson
August 29, 1958 – June 25, 2009
You will be remembered and missed by everyone that
you have impacted over the years. Your music, spirit
and energy will live on for generations to come.
“In a world filled with hate, we must still dare to hope. In a world filled with anger, we
must still dare to comfort. In a world filled with despair, we must still dare to dream. And
in a world filled with distrust, we must still dare to believe.”
– Michael Jackson
August 2009 | The Bottom Line Newsletter 9
CEO/EXECUTIVE DEVELOPMENT ROUNDTABLE DISCUSSION
& COCKTAIL RECEPTION
“MANAGING YOUR EXECUTIVE CAREER”
METRO NEW YORK CHAPTER OF THE
NATIONAL BLACK MBA ASSOCIATION & THE NEW YORK TIMES
TUESDAY, AUGUST 25, 2009 6:00PM – 9:00PM
THE TIMES CENTER, 242 WEST 41ST STREET, NEW YORK, NY
Participate with successful CEOs in media and finance
Learn from their experiences to be successful in this economic climate
Evaluate your knowledge, skills and abilities in this market
Discover new career opportunities in our changing world
Network with other members and invite your colleagues
PANELISTS
Janet L. Robinson, President & CEO of the New York Times Company (Our Host)
Deborah C. Wright, President & CEO of Carver Bancorp
PLEASE COME TO OUR NETWORKING RECEPTIONS WHERE COCKTAILS AND
HORS D’OEUVRES WILL BE SERVED
THE COST - $25 FOR MEMBERS AND $30 FOR NON-MEMBERS
THE BENEFIT - THE SCHOLARSHIP FUND
ATTENDANCE BY RSVP ONLY, CLICK TO RSVP
THE RECEPTIONS ARE HOSTED BY THE BARTH/WOLF WEATLH MANAGEMENT GROUP
NATIONAL
BLACK
mba
ASSOCIATION, INC.
N ewY ork
METRO
10 The Bottom Line Newsletter | August 2009
August 2009 | The Bottom Line Newsletter 11