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

[Shizlansky]

So we questioning O blackness?

 

[sunlord]

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?

Thank you for proving that you don't know how money ,churches ,bank or any of the other shit you mentioned works.

 

[jono]

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

They sold out a while ago tho lol

A few months ago they took in "investors" to expand. They ended up putting out a commercial black women didn't like and it pretty much pissed off their consumer base.

The actual complete sale of the company was like a week or so ago.

This is like the third black women aimed corporation bought in three years. First was Carol's Daughter, then Essence Magazine, and now Sundial.

 

[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

^^^ 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?

actually we have a good number of black banks on the low

the problem is that those banks don't have the same resources as other more popular banks in order to provide black folks the same access to investments

also there are no black banks I can recall that have a seat at the any of the major stock exchanges.......I could be wrong tho since its 2017

 

[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?

actually we have a good number of black banks on the low

the problem is that those banks don't have the same resources as other more popular banks in order to provide black folks the same access to investments

also there are no black banks I can recall that have a seat at the any of the major stock exchanges.......I could be wrong tho since its 2017

You're right. I know a handful of people in finance.

If the churches worked in conjunction with the finance industry they could flip that money from the collection plate.

Picture a day trading firm that gets money from a church and reinvests it Monday through Friday and on Friday 3:59:59 they put the money in an index fund or government bonds.

 

[deadeye]

Yall defintely dont have the same energy about BET.

Crazy

Not true.

BET's old news now, but people talk about their downfall all the time........even though they sold out almost 10 years ago.

 

[2stepz_ahead]

i think we need to stop wishing the churchs would help folk.....most of them are in business for themselves.

driving bentleys and benzs while churching in the hood.

i am glad to say i had a pastor that was real about his shit.....he looked out for my wife and i when we was broke when we got married. ill never forget him for helping us out the way he did. didnt give us money but he looked out.

but other churches i been too....nah...they aint trynna help niggas out. they part of the problem.

 

[2stepz_ahead]

and lets not act like i didnt see a nigga admitting to being in finance..

i see your angle now.

ill stay quiet an give props until the next battle.

 

[blakfyahking]

and lets not act like i didnt see a nigga admitting to being in finance..

i see your angle now.

ill stay quiet an give props until the next battle.

SMH......nigga u been known that finance is my background

that's why I a lot of times I was clowning ur "advice" when we were beefng in majority of these threads :lol:

a lot of people don't realize that when it comes to real financial knowledge

it's not about the "money", it's really about the "value"

 

[2stepz_ahead]

and lets not act like i didnt see a nigga admitting to being in finance..

i see your angle now.

ill stay quiet an give props until the next battle.

SMH......nigga u been known that finance is my background

that's why I a lot of times I was clowning ur "advice" when we were beefng in majority of these threads :lol:

a lot of people don't realize that when it comes to real financial knowledge

it's not about the "money", it's really about the "value"

im in training....why you trynna start the fight early?

but i actually didnt know you was in finance.....

an the only advice you think you clowned was the shit about the house....

an using you money to obtain assets creates value..but to me security comes before all else.

 

[blakfyahking]

and lets not act like i didnt see a nigga admitting to being in finance..

i see your angle now.

ill stay quiet an give props until the next battle.

SMH......nigga u been known that finance is my background

that's why I a lot of times I was clowning ur "advice" when we were beefng in majority of these threads :lol:

a lot of people don't realize that when it comes to real financial knowledge

it's not about the "money", it's really about the "value"

im in training....why you trynna start the fight early?

but i actually didnt know you was in finance.....

an the only advice you think you clowned was the shit about the house....

an using you money to obtain assets creates value..but to me security comes before all else.

money =/= value

u can buy assets all day that don't create "value"..........making money is not the same as creating value

and "security" is a feeling........it's not necessarily a tangible thing

that's why I'm skeptical of folks claiming to seek security instead of value

hence why we tend to disagree

 

[2stepz_ahead]

and lets not act like i didnt see a nigga admitting to being in finance..

i see your angle now.

ill stay quiet an give props until the next battle.

SMH......nigga u been known that finance is my background

that's why I a lot of times I was clowning ur "advice" when we were beefng in majority of these threads :lol:

a lot of people don't realize that when it comes to real financial knowledge

it's not about the "money", it's really about the "value"

im in training....why you trynna start the fight early?

but i actually didnt know you was in finance.....

an the only advice you think you clowned was the shit about the house....

an using you money to obtain assets creates value..but to me security comes before all else.

money =/= value

u can buy assets all day that don't create "value"..........making money is not the same as creating value

and "security" is a feeling........it's not necessarily a tangible thing

that's why I'm skeptical of folks claiming to seek security instead of value

hence why we tend to disagree

case and point

a person can have a house.

paying mortgage...thinking they are feeling secure because they have a good job, savings and no business sense. but they want to start a business but are hesitant to do it because they must still pay the mortgage.

three weeks later the person loses their job. but figure they can live off savings until their unemployment kicks in.

unemployment doesnt kick in for whatever.....but they still have savings.....

saving eventually get low and they begin to miss mortgage payments all while looking for work.

what would you tell this person?

well i am a person that once missed a mortgage payment because of losing a job...while i did correct shit...that is a feeling that i could not sleep with know it could happen again. so i paid off my house ASAP.

now i have a sense of security. things can still happen...but it might be a while before i lose a house now AND a person with no business sense will have a bit more heart to go after building a business since the mortgage is not a factor.

so while i understand your point and never claim to not understand it...i rather not have that type debt. i feel free to make moves and take greater risks without having to worry too much about what needs to be paid.

so my security and comfort while not tangible...it does have unlimited value.

my only worry is if a 809 number comes up on my phone while wifey has it.

im actually meeting with a guy in finance this week and he invited me to his village over christmas to talk business. even tho you still owe me that fade UBS is a good company you should try to get into. the banks here are always looking for native english speakers.

 

[blakfyahking]

and lets not act like i didnt see a nigga admitting to being in finance..

i see your angle now.

ill stay quiet an give props until the next battle.

SMH......nigga u been known that finance is my background

that's why I a lot of times I was clowning ur "advice" when we were beefng in majority of these threads :lol:

a lot of people don't realize that when it comes to real financial knowledge

it's not about the "money", it's really about the "value"

im in training....why you trynna start the fight early?

but i actually didnt know you was in finance.....

an the only advice you think you clowned was the shit about the house....

an using you money to obtain assets creates value..but to me security comes before all else.

money =/= value

u can buy assets all day that don't create "value"..........making money is not the same as creating value

and "security" is a feeling........it's not necessarily a tangible thing

that's why I'm skeptical of folks claiming to seek security instead of value

hence why we tend to disagree

case and point

a person can have a house.

paying mortgage...thinking they are feeling secure because they have a good job, savings and no business sense. but they want to start a business but are hesitant to do it because they must still pay the mortgage.

three weeks later the person loses their job. but figure they can live off savings until their unemployment kicks in.

unemployment doesnt kick in for whatever.....but they still have savings.....

saving eventually get low and they begin to miss mortgage payments all while looking for work.

what would you tell this person?

well i am a person that once missed a mortgage payment because of losing a job...while i did correct shit...that is a feeling that i could not sleep with know it could happen again. so i paid off my house ASAP.

now i have a sense of security. things can still happen...but it might be a while before i lose a house now AND a person with no business sense will have a bit more heart to go after building a business since the mortgage is not a factor.

so while i understand your point and never claim to not understand it...i rather not have that type debt. i feel free to make moves and take greater risks without having to worry too much about what needs to be paid.

so my security and comfort while not tangible...it does have unlimited value.

my only worry is if a 809 number comes up on my phone while wifey has it.

im actually meeting with a guy in finance this week and he invited me to his village over christmas to talk business. even tho you still owe me that fade UBS is a good company you should try to get into. the banks here are always looking for native english speakers.

my beef with this is that u used a house with a mortgage instead of an apt with rent

how many mofos in that same situation paying rent and lost their job and had to miss a rent payment?

in the homeowner's case they generally got 3 mos to do something about their situation

in the apt renter's situation they pretty much got a 1 mo or so to make a move depending on their state laws

so why not just admit that financial security doesn't exist for either party?

reason I say that is because if the homeowner is stacking their bread from those mortgage deductions, that is a little nest egg right there

the problem isn't missing a mortgage payment, the problem is the homeowner only had one source of income so they were fucked when they lost their job regardless

now why wouldn't I tell someone to stack their bread and create a 2nd source of income, which was my answer to your mortgage thread.........for some reason that kept going over your head

ur post is an example of what I mean when I say security is not tangible asset, security is what u personally define it as

so u own the house, but u can't pay for utilities so u living there with no lights or water.........that's not financially secure IMO

 

[2stepz_ahead]

and lets not act like i didnt see a nigga admitting to being in finance..

i see your angle now.

ill stay quiet an give props until the next battle.

SMH......nigga u been known that finance is my background

that's why I a lot of times I was clowning ur "advice" when we were beefng in majority of these threads :lol:

a lot of people don't realize that when it comes to real financial knowledge

it's not about the "money", it's really about the "value"

im in training....why you trynna start the fight early?

but i actually didnt know you was in finance.....

an the only advice you think you clowned was the shit about the house....

an using you money to obtain assets creates value..but to me security comes before all else.

money =/= value

u can buy assets all day that don't create "value"..........making money is not the same as creating value

and "security" is a feeling........it's not necessarily a tangible thing

that's why I'm skeptical of folks claiming to seek security instead of value

hence why we tend to disagree

case and point

a person can have a house.

paying mortgage...thinking they are feeling secure because they have a good job, savings and no business sense. but they want to start a business but are hesitant to do it because they must still pay the mortgage.

three weeks later the person loses their job. but figure they can live off savings until their unemployment kicks in.

unemployment doesnt kick in for whatever.....but they still have savings.....

saving eventually get low and they begin to miss mortgage payments all while looking for work.

what would you tell this person?

well i am a person that once missed a mortgage payment because of losing a job...while i did correct shit...that is a feeling that i could not sleep with know it could happen again. so i paid off my house ASAP.

now i have a sense of security. things can still happen...but it might be a while before i lose a house now AND a person with no business sense will have a bit more heart to go after building a business since the mortgage is not a factor.

so while i understand your point and never claim to not understand it...i rather not have that type debt. i feel free to make moves and take greater risks without having to worry too much about what needs to be paid.

so my security and comfort while not tangible...it does have unlimited value.

my only worry is if a 809 number comes up on my phone while wifey has it.

im actually meeting with a guy in finance this week and he invited me to his village over christmas to talk business. even tho you still owe me that fade UBS is a good company you should try to get into. the banks here are always looking for native english speakers.

my beef with this is that u used a house with a mortgage instead of an apt with rent

how many mofos in that same situation paying rent and lost their job and had to miss a rent payment?

in the homeowner's case they generally got 3 mos to do something about their situation

in the apt renter's situation they pretty much got a 1 mo or so to make a move depending on their state laws

so why not just admit that financial security doesn't exist for either party?

reason I say that is because if the homeowner is stacking their bread from those mortgage deductions, that is a little nest egg right there

the problem isn't missing a mortgage payment, the problem is the homeowner only had one source of income so they were fucked when they lost their job regardless

now why wouldn't I tell someone to stack their bread and create a 2nd source of income, which was my answer to your mortgage thread.........for some reason that kept going over your head

ur post is an example of what I mean when I say security is not tangible asset, security is what u personally define it as

so u own the house, but u can't pay for utilities so u living there with no lights or water.........that's not financially secure IMO

it didnt go over my head but how many people you know that want to get into a second source of income an they in an apartment? lets keep it 100.

even with a mortgage.....most people are trapped into keep paying for something...an when a nest egg appears.....they want something to show people they have money....hence cars with payment.

most people dont understand second incomes and if they do..most think about it after they are already committed to a mortgage.

as far as having a house with no lights...hey ill take that over sleeping under a well lit bridge. i simple wendys job can pay a light and water bill. but could not be thought about when paying a mortgage.

in this bad situation...i rather have a house and get whatever to pay utilities.. i wont be so pressed about needing the big job.

so i ask you.....how many people that you deal with are truly ready to create a second income? im not talking about have the money too do it...i saying have the heart and knowledge to do it.

i will blow $100k on getting outta debt before i blow $100k trying to create more income.

it may sound crazy to you and in your field...but for me....i need piece of mind. i lower my debt the more secure i feel since lower paying jobs are faster and easier to get God forbid everything goes left.

 

[blakfyahking]

it didnt go over my head but how many people you know that want to get into a second source of income an they in an apartment? lets keep it 100.

even with a mortgage.....most people are trapped into keep paying for something...an when a nest egg appears.....they want something to show people they have money....hence cars with payment.

most people dont understand second incomes and if they do..most think about it after they are already committed to a mortgage.

as far as having a house with no lights...hey ill take that over sleeping under a well lit bridge. i simple wendys job can pay a light and water bill. but could not be thought about when paying a mortgage.

in this bad situation...i rather have a house and get whatever to pay utilities.. i wont be so pressed about needing the big job.

so i ask you.....how many people that you deal with are truly ready to create a second income? im not talking about have the money too do it...i saying have the heart and knowledge to do it.

i will blow $100k on getting outta debt before i blow $100k trying to create more income.

it may sound crazy to you and in your field...but for me....i need piece of mind. i lower my debt the more secure i feel since lower paying jobs are faster and easier to get God forbid everything goes left.

yeah the concept did go over ur head.....cuz why even buy a house if u don't plan on taking advantage of the benefits home ownership provides vs. renting?

the issue u stating at the bolded is the source of many financial problems.....people wait until shit happens and then they decide to get all stressed out trying to do something about it

when most financial problems can be eliminated in advance aka "if u fail to plan, then u obviously plan to fail"

don't tell me about being confused about getting a second income when truthfully u should already be planning for advancement in ur primary job..........if u and wifey both work then her job is secondary income........if ya'll can't live off one 1 salary after a job loss then u bought too much house to begin with

if u blow 100k trying to get out of debt but u don't completely pay it off, guess what........u still in debt bruh

but if the cat in debt still got his 100k in cash, it don't take 100k to set up additional income........if u too uneducated to use 100k in order to set up a secondary source of income then u gon fuck ur money up eventually no matter what u do

and let's keep it all the way real, if u can't afford monthly utilities then u ain't gon be able to pay for property taxes either...........u still gon end up sleeping under a bridge my nigga haha

ur financial security is all emotions.......u are never really secure if u don't know how to use credit and don't know how to plan for contingencies........u think paying off a house is doing something but all u are doing is delaying the inevitable

 

[2stepz_ahead]

it didnt go over my head but how many people you know that want to get into a second source of income an they in an apartment? lets keep it 100.

even with a mortgage.....most people are trapped into keep paying for something...an when a nest egg appears.....they want something to show people they have money....hence cars with payment.

most people dont understand second incomes and if they do..most think about it after they are already committed to a mortgage.

as far as having a house with no lights...hey ill take that over sleeping under a well lit bridge. i simple wendys job can pay a light and water bill. but could not be thought about when paying a mortgage.

in this bad situation...i rather have a house and get whatever to pay utilities.. i wont be so pressed about needing the big job.

so i ask you.....how many people that you deal with are truly ready to create a second income? im not talking about have the money too do it...i saying have the heart and knowledge to do it.

i will blow $100k on getting outta debt before i blow $100k trying to create more income.

it may sound crazy to you and in your field...but for me....i need piece of mind. i lower my debt the more secure i feel since lower paying jobs are faster and easier to get God forbid everything goes left.

yeah the concept did go over ur head.....cuz why even buy a house if u don't plan on taking advantage of the benefits home ownership provides vs. renting?

the issue u stating at the bolded is the source of many financial problems.....people wait until shit happens and then they decide to get all stressed out trying to do something about it

when most financial problems can be eliminated in advance aka "if u fail to plan, then u obviously plan to fail"

don't tell me about being confused about getting a second income when truthfully u should already be planning for advancement in ur primary job..........if u and wifey both work then her job is secondary income........if ya'll can't live off one 1 salary after a job loss then u bought too much house to begin with

if u blow 100k trying to get out of debt but u don't completely pay it off, guess what........u still in debt bruh

but if the cat in debt still got his 100k in cash, it don't take 100k to set up additional income........if u too uneducated to use 100k in order to set up a secondary source of income then u gon fuck ur money up eventually no matter what u do

and let's keep it all the way real, if u can't afford monthly utilities then u ain't gon be able to pay for property taxes either...........u still gon end up sleeping under a bridge my nigga haha

ur financial security is all emotions.......u are never really secure if u don't know how to use credit and don't know how to plan for contingencies........u think paying off a house is doing something but all u are doing is delaying the inevitable

well aint this a situation then.

we gonna have to agree to disagree.

wifey and i have been at a just in case 1 income before i acquired anything....before any business. now once everything started...i paid everything off...an continued to purchase and invest...but i was able to do that with a clear mind.

you are stating emotion...but people make decisions everyday off emotion. i started a thread a while back where people were saying they needed such an such or wanted to guarantee this before making this decision.

no matter which way you spell it..its still based off emotion.

everyone is not prepared to take leaps forward or educate themselves....even if they got alot of a little bit of money. plenty of people on this site dont want to educate themselves...they want to be told step by step step what to do.

its funny the things you are saying in your last post.

reason being.....those very things you are saying...i have said millions of times on here and many years ago to many people...all i do is think of the what ifs...an thats why 1 income was our first goal and second was paying off the house.

and yes credit can be helpful but you also have to know who you are as a person an know how to use it.

i recently made a purchase with cash that i should have used credit for. aye...lesson learned. and thats why my next step is speaking with a banker to not make the mistake again. and yes, i spent a shit load of money...but it wasnt due to reasons some may think....

now while it may look like i dont know what i was doing.....i know who i am and what credit was to me. i had to be real with myself an know that it wasnt the time and now is the time.

and lastly...if someone cant pay for utilities or taxes...then they need to sell the house and start over vs having it taken...

 

[5 Grand]

My $0.02

If you have an extra 100k, rather than deciding if you should pay off your debt or start a business, there's a third option. Sadly many people don't fully understand the third option.

There's something called a series 7 exam. Its what stockbrokers take to be registered with the SEC. The information on the series 7 exam isn't taught in schools. You can't go to college and take courses that will teach you how the stock market works. You have to figure it out for yourself.

Once you understand how it works, if you have $100k you'll be set for life.

 

[2stepz_ahead]

My $0.02

If you have an extra 100k, rather than deciding if you should pay off your debt or start a business, there's a third option. Sadly many people don't fully understand the third option.

There's something called a series 7 exam. Its what stockbrokers take to be registered with the SEC. The information on the series 7 exam isn't taught in schools. You can't go to college and take courses that will teach you how the stock market works. You have to figure it out for yourself.

Once you understand how it works, if you have $100k you'll be set for life.

shit niggas might be still paying off student loans.

while i understand investing in yourself.

one of my points is ..how many people will know how to act with an instant 100k?

nd if you had to give them advice what would you tell them?

while i can agree with my nemesis ....im not sure about using it for this exam unless thats already the path you planned on taking.

 

[Revolver Ocelot]

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.

The fuck are you talking bout?

That 25% at 70 million means the company has a valuation of close to 300 million in just 6 years.

 

[D. Morgan]

I can't knock them for getting their money.

With Oprah and Bob Johnson with BET. It's their companies so they can do whatever they want to do but with tv and media always being so important in shaping narratives we as black people NEED those outlets.

We talk about how even so called left leaning media channels run with the white lone wolf talk. Well OWN network and BET if they were still black owned could tell the truth and say these white people are terrorist and they aren't lone wolves. We would also be able to counter the one black person did it so all black people will or are liable to do it speech that these white media stations put out in regards to us.

Black people need to shape the narrative for black people and we NEED black owned stations and channels in order to do that and selling them off to white owned corporations is not going to allow that to happen.