Two black corporations sold off to whites.. (Sundial & OWN)

[deadeye]

lol@ believing Oprah ever had true control over that company to begin with.

According to the article, it was a 50/50 venture with Discovery.........so she never even had a majority stake in what she marketed as her......................"own" (pun intended)................company.

 

[Brian B.]

Hows this black folks selling out?

Sounds like people did exactly what they were supposed to. Build a brand from scratch and in the case of the first story, sell it for 240 million. Thats exactly what you supposed to do. Good for them.

You reaching super hard here.

re-read it

that's their expected revenue this year

they gettin billions

While you're right about him needing to read the article again (it clearly stated their revenue was 240 for the year).... who is "they" and where did u get billions from?

"they" as in that company

& that was an educated guess, if your company makes a quarter billion dollars a yr, you ain't finna sell for a couple hundred mil

 

[deadeye]

Also, $70 million seems kind of low.

The network must not have been doing that well.

Otherwise, there'd be no reason to sell a 25% stake.

Guess she just decided to cut her losses.

 

[VulcanRaven]

Business isn't black or white, its green.

Having said that, I'd like to see some Black owned Investment Banking firms that have traders on the New York Stock Exchange trading floor.

This is only true in theory. For blacks it is not true. Whites make moves like this to keep blacks down. How do you think they got companies like Coke, Disney and Nike? You really think there is no ulterior motive to these moves by the buyers? When you sell you lose power. Look at what BET turned into. You lose marketing to promote black interests and issues.

 

[VulcanRaven]

SMH @ niggaz nonchalantly claiming "its just business"

in Oprah's case she can get away with it more cuz she is already a billionaire

but at the same time a media network is a powerful thing........... now with Oprah I'm not surprised at her being willing to compromise the potential imagery on her network........she has been bought off by white people a long time ago

yeah it can make sense to build and sell ur business off, but ownership still used to mean something......just look at what happened to BET after it was sold to white folks

and as far as Sundial, I understand why broke people always think cashing out is cool

but then later on the same people get mad cuz we have no real political power

I'm starting to really believe black people really are bred to be submissive by nature and that's why we constantly asking permission from other folks to be treated with respect

You get it. Notice no Asian businesses are selling to anyone outside of their own people and the same with the Jews. The Clippers went from one Jew to another.

 

[CashmoneyDux]

Yall defintely dont have the same energy about BET.

Crazy

 

[Lefty_]

Black Equity > Black Business

If they keep flipping, they don’t lose power.

 

[Recaptimus_Prime360]

Also, $70 million seems kind of low.

The network must not have been doing that well.

Otherwise, there'd be no reason to sell a 25% stake.

Guess she just decided to cut her losses.

I was thinking this to.

 

[Rozetta5tone]

Having a business and being in business are two very different things. Both can foster a legacy and empower the lives of others.

You don’t have to retain a brand/product in order to build wealth for your future or community.

What you overblack Mfs are forgetting is the simple fact that MONEY IS MONEY. You don’t need to be associated with a popular brand in order to have shit for the fam. I’m more than certain the rulers of the ruling class are running businesses you’ve never even heard of. Majority of the millionaires in the country are rich off shit mfs don’t even buy everyday.

Expand yourselves. Stop being a victim of “white oppression”. Nigga empower yourselves and stop being a goddamn race monger.

 

[blakfyahking]

Having a business and being in business are two very different things. Both can foster a legacy and empower the lives of others.

You don’t have to retain a brand/product in order to build wealth for your future or community.

What you overblack Mfs are forgetting is the simple fact that MONEY IS MONEY. You don’t need to be associated with a popular brand in order to have shit for the fam. I’m more than certain the rulers of the ruling class are running businesses you’ve never even heard of. Majority of the millionaires in the country are rich off shit mfs don’t even buy everyday.

Expand yourselves. Stop being a victim of “white oppression”. Nigga empower yourselves and stop being a goddamn race monger.

the bolded reveals that u don't see the bigger picture

how many black folks will keep having to re-learn the lesson that money doesn't insulate u from racism

what is better to have in ur opinion:

fiat money that can be devalued at any time?

or physical resources/assets like real estate/manufacturing facilities/raw materials?

ownership goes a lot further than just money.........cuz what has pure spending power alone done for us when we just rush to give our bread back to other people who don't respect us anyway?

 

[5 Grand]

It all depends on what they do with the money.

For example, I can think of a certain music industry exec that claimed that he made so much money he didn't do his laundry, he just threw his clothes away and bought new ones. If a person like that sells his interest in a company he's going to have long term problems.

However, if a music industry exec was in the same position and was frugal with his money (e.g. driving a Toyota Camry instead of a Bentley) and invested it wisely then selling his interest in the company and re-investing it makes sense.

Like I said its not black or white, its green.

From my perspective, the most important thing the Black community needs is more people in the financial industry. People with series 7 licenses and MBAs. There's nothing worse than signing a $10 Million contract and not knowing what to do with the money or how to invest it. As soon as you get that $10 Million check the sharks and vultures start circling they'll sell you a dream and rip you off. Then you have to take them to court, and if you win your lawyer gets 1/3.

Thats why its important to understand finance and the stock market.

There's a lot of rappers that should be multi millionaires that are broke because they didn't know what to do with their money.

 

[i ro ny]

SMH @ niggaz nonchalantly claiming "its just business"

in Oprah's case she can get away with it more cuz she is already a billionaire

but at the same time a media network is a powerful thing........... now with Oprah I'm not surprised at her being willing to compromise the potential imagery on her network........she has been bought off by white people a long time ago

yeah it can make sense to build and sell ur business off, but ownership still used to mean something......just look at what happened to BET after it was sold to white folks

and as far as Sundial, I understand why broke people always think cashing out is cool

but then later on the same people get mad cuz we have no real political power

I'm starting to really believe black people really are bred to be submissive by nature and that's why we constantly asking permission from other folks to be treated with respect

i came to post something similar to this.

i thought the point of owning these types of companies was to CONTINUE to own them, not sell them.

 

[blakfyahking]

It all depends on what they do with the money.

For example, I can think of a certain music industry exec that claimed that he made so much money he didn't do his laundry, he just threw his clothes away and bought new ones. If a person like that sells his interest in a company he's going to have long term problems.

However, if a music industry exec was in the same position and was frugal with his money (e.g. driving a Toyota Camry instead of a Bentley) and invested it wisely then selling his interest in the company and re-investing it makes sense.

Like I said its not black or white, its green.

From my perspective, the most important thing the Black community needs is more people in the financial industry. People with series 7 licenses and MBAs. There's nothing worse than signing a $10 Million contract and not knowing what to do with the money or how to invest it. As soon as you get that $10 Million check the sharks and vultures start circling they'll sell you a dream and rip you off. Then you have to take them to court, and if you win your lawyer gets 1/3.

Thats why its important to understand finance and the stock market.

There's a lot of rappers that should be multi millionaires that are broke because they didn't know what to do with their money.

I feel u at the bolded but u typed a lot of misconceptions that many black folks are taught

we don't necessarily need to be more frugal, we just need to be more efficient and savvy with our money

the problem isn't buying Bentleys, the problem is that Bentley isn't owned by a group of people who have our best interests at heart..........case in point if Bentley was owned by black folks interested in reinvesting their bread in black communities, it would benefit us all if all these rich niggaz only bought Bentleys

but unfortunately whether u buy a Toyota or a Bentley, u should buy what u can afford and the goal should be long term ownership since neither company really helps us long term anyway

as far as the finance shit, I work in finance and once u start making bread u start seeing how shit is really rigged

even if u get a series 7 license u still need to go thru a bunch of white folks to participate in the stock market, u don't just get in the game and just automatically become a broker/dealer

what really hurts black folks on the finance side is that we don't have access to the same investments........venture capital would help us out a lot

but we don't have a shared culture where investing in each other on some legitimate shit is common like other groups........we don't have enough banks with resources.........we don't have enough black millionaires/billionaires who prioritize having black financial services

 

[5 Grand]

It all depends on what they do with the money.

For example, I can think of a certain music industry exec that claimed that he made so much money he didn't do his laundry, he just threw his clothes away and bought new ones. If a person like that sells his interest in a company he's going to have long term problems.

However, if a music industry exec was in the same position and was frugal with his money (e.g. driving a Toyota Camry instead of a Bentley) and invested it wisely then selling his interest in the company and re-investing it makes sense.

Like I said its not black or white, its green.

From my perspective, the most important thing the Black community needs is more people in the financial industry. People with series 7 licenses and MBAs. There's nothing worse than signing a $10 Million contract and not knowing what to do with the money or how to invest it. As soon as you get that $10 Million check the sharks and vultures start circling they'll sell you a dream and rip you off. Then you have to take them to court, and if you win your lawyer gets 1/3.

Thats why its important to understand finance and the stock market.

There's a lot of rappers that should be multi millionaires that are broke because they didn't know what to do with their money.

I feel u at the bolded but u typed a lot of misconceptions that many black folks are taught

we don't necessarily need to be more frugal, we just need to be more efficient and savvy with our money

the problem isn't buying Bentleys, the problem is that Bentley isn't owned by a group of people who have our best interests at heart..........case in point if Bentley was owned by black folks interested in reinvesting their bread in black communities, it would benefit us all if all these rich niggaz only bought Bentleys

but unfortunately whether u buy a Toyota or a Bentley, u should buy what u can afford and the goal should be long term ownership since neither company really helps us long term anyway

as far as the finance shit, I work in finance and once u start making bread u start seeing how shit is really rigged

even if u get a series 7 license u still need to go thru a bunch of white folks to participate in the stock market, u don't just get in the game and just automatically become a broker/dealer

what really hurts black folks on the finance side is that we don't have access to the same investments........venture capital would help us out a lot

but we don't have a shared culture where investing in each other on some legitimate shit is common like other groups........we don't have enough banks with resources.........we don't have enough black millionaires/billionaires who prioritize having black financial services

^^^ Good stuff.

The absolute biggest problem, the detriment of the Black community is the Black church. They've been in business since reconstruction and we don't have one Black bank. Anybody care to explain that?

 

[sunlord]

It all depends on what they do with the money.

For example, I can think of a certain music industry exec that claimed that he made so much money he didn't do his laundry, he just threw his clothes away and bought new ones. If a person like that sells his interest in a company he's going to have long term problems.

However, if a music industry exec was in the same position and was frugal with his money (e.g. driving a Toyota Camry instead of a Bentley) and invested it wisely then selling his interest in the company and re-investing it makes sense.

Like I said its not black or white, its green.

From my perspective, the most important thing the Black community needs is more people in the financial industry. People with series 7 licenses and MBAs. There's nothing worse than signing a $10 Million contract and not knowing what to do with the money or how to invest it. As soon as you get that $10 Million check the sharks and vultures start circling they'll sell you a dream and rip you off. Then you have to take them to court, and if you win your lawyer gets 1/3.

Thats why its important to understand finance and the stock market.

There's a lot of rappers that should be multi millionaires that are broke because they didn't know what to do with their money.

I feel u at the bolded but u typed a lot of misconceptions that many black folks are taught

we don't necessarily need to be more frugal, we just need to be more efficient and savvy with our money

the problem isn't buying Bentleys, the problem is that Bentley isn't owned by a group of people who have our best interests at heart..........case in point if Bentley was owned by black folks interested in reinvesting their bread in black communities, it would benefit us all if all these rich niggaz only bought Bentleys

but unfortunately whether u buy a Toyota or a Bentley, u should buy what u can afford and the goal should be long term ownership since neither company really helps us long term anyway

as far as the finance shit, I work in finance and once u start making bread u start seeing how shit is really rigged

even if u get a series 7 license u still need to go thru a bunch of white folks to participate in the stock market, u don't just get in the game and just automatically become a broker/dealer

what really hurts black folks on the finance side is that we don't have access to the same investments........venture capital would help us out a lot

but we don't have a shared culture where investing in each other on some legitimate shit is common like other groups........we don't have enough banks with resources.........we don't have enough black millionaires/billionaires who prioritize having black financial services

^^^ Good stuff.

The absolute biggest problem, the detriment of the Black community is the Black church. They've been in business since reconstruction and we don't have one Black bank. Anybody care to explain that?

nigga stop blaming church for black problems you are just looking for another scapegoat. Niggas are always looking to shift responsibility for their condition to some other entity, traditionally it's been the WHITE Man that took all the blame, now some niggas are blaming the black church. FOH. Study history. The black community would not have made this much progress without the black church, And there are black banks

 

[sunlord]

There is a difference between money and real power. money is a form of power but it is also the result of real power if you have money with no power then your money can be taken away from you or it can be lost and not recuperated.

There are plenty of black people with money but they have no power because they control nothing except their money and the use of that money is limited to their access to power. Owning a business however is power because you get up everyday and make decisions that affect the lives of the people you employ and maybe even your local community.

 

[2stepz_ahead]

A nigga without shit telling a nigga with shit why he shouldn't sell his shit but don't know how much shit he truly goes thru to hold the shit.

Ill be back to add to this

 

[atribecalledgabi]

I fucks with Shea Moisture too. I feel some way about this.

They sold out a while ago tho lol

 

[5 Grand]

nigga stop blaming church for black problems you are just looking for another scapegoat. Niggas are always looking to shift responsibility for their condition to some other entity, traditionally it's been the WHITE Man that took all the blame, now some niggas are blaming the black church. FOH. Study history. The black community would not have made this much progress without the black church, And there are black banks

When I was coming up I went to church fairly regularly. They would pass the collection plate around twice and people would be putting in $10 and $20 bills. This was in the 80s. As much money as that church made every Sunday they should own land, apartment complexes, banks, high rise skyscrapers, airlines, cruise ships and a space program that could compete with NASA.

Where does the money go?

 

[2stepz_ahead]

nigga stop blaming church for black problems you are just looking for another scapegoat. Niggas are always looking to shift responsibility for their condition to some other entity, traditionally it's been the WHITE Man that took all the blame, now some niggas are blaming the black church. FOH. Study history. The black community would not have made this much progress without the black church, And there are black banks

When I was coming up I went to church fairly regularly. They would pass the collection plate around twice and people would be putting in $10 and $20 bills. This was in the 80s. As much money as that church made every Sunday they should own land, apartment complexes, banks, high rise skyscrapers, airlines, cruise ships and a space program that could compete with NASA.

Where does the money go?