Cljarlotte $osit
Business
THURSDAY, MARCH 8,2007
PAGE 8C
Hooked
on the
magic of
network
By Erica Singleton
FOR THE CHARLOTTE POST
Chris Jenkins' love affair
with computers began in
middle school.
"That’s where I was first
introduced to computers and
I looked forward to that class
everyday," Jenldns said.
And without shame, he is
quick to admit that he was
even a part of the computer
club. "I loved computer club
in middle school,” said
Jenkins. "I went to state com
petitions and everything."
But Jenkins isn't your
everyday tech geek. The
President and starter of
Internet Contrasts, an inter
net services company, and
CharIottevibe.com, an online
media community that
focuses on connecting
African Americans in
Charlotte, Jenkins left the
road traveled by most com
puter guys to make his own
path.
Jenkins grew up in
Delaware and went to school
in Missouri, before coming to
Charlotte to study computer
science at UNC Charlotte.
"I didn’t like college," he
said. "It’s too slow. I believe
in the education process, but
for computer techs, it is too
slow.”
Since technology is always
changing, and the computer
Industry in general is so fast
paced, Jenkins never fin
ished earning his degree at
UNCC, though that wasn’t his
original plan. His dream was
to take the corporate path,
but a mistake regarding
financial aid led Jenkins to
look for work outside of the
classroom, in order to pay
backhis bills. He found work
with a web -development
company, and hasn’t looked
back since.
“It was going well.” he said,
"! liked the real world experi
ence, and chose not to go
back to school."
"College was absolutely
needed,” explained Jenkins.
"They teach you things you
can't learn in high school,
and wouldn’t be able to learn
on your own. But in college
you are always learning
something that isn’t cutting
edge," continued Jenkins.
“To stay on top of the indus
try, most people go to con
ferences."
Jenkins described himself
as driven and self-motivated,
and said he was able to use ■
the foundation of logic he
was taught in school, to teach
and advance himself. He
worked as a contractor for a
company in Atlanta where
his career and finances sky
rocketed, it seemed his cor
porate dream had come true,
but the reality set in.
"Companies spend a great
deal of money on technology
and tech staff, and so when
they make budget cuts it's
usually the tech staff that is
the first to go," said Jenkins.
It’s at this point Jenkins
entrepreneurial spirit kicked
in, and he began his eight
year journey to launch
Internet Contrasts and
Charlottevibe.com in 2006.
"I had the entrepreneurial
spirit, but 1 didn’t know
where to turn," said Jenkins.
"We could have a better
chance of succeeding, if we
could find each other.”
That was the key to launch
ing the business. "The in
business is being connect
ed." said Jenkins.
mmnmmmm
PHOTO/CALVIN FERGUSON
Ann Fudge, former chairwoman and CEO of Young & Rufaicam Brands, was the feature speak
er at the Feb. 8 Executive Leadership Series at Johnson C. Smith University. Young & Rubicam
is made up of several marketing communications companies that range from public relations
to brand consulting and creative design. Before leading Y&R, Fudge was president of bever
ages, desserts and foe Post Division at Kraft Foods, a $5 billion unit
Black entrepreneurs emphasize
health, social services startups
By Whitney Teal
NAVONAL NEWSPAPER
PUBUSHERS ASSOOAVON
WASHINGTON - The number
of private companies owned by
African-Americans is on the rise.
According to the 2002 Survey
of Business Owners, the most
recent by the U.S. Census
Bureau, businesses owned by
blacks now number more than 1
million, more than doubling over
a decade.
Black business proprietors
have experienced an approxi
mate 45 percent gain since the
last Survey in 1997 and an
increase of about 92 percent
since the 1992 survey 10 years
prior.
"[African-Americans) are now
pooling resources and beginning
to understand the power of net
working [and] how to market and
promote their companies," says
Bonnie Rose-Goree, CEO of the
Atlanta Black Business
Association.
But. while the number of busi
nesses has increased, the per
centage of the market that
African-Americans currently
occupy has barely increased. In
the 1997 survey black-owned
businesses represented about 4
percent of the total number of
businesses. In 2002, the number
was 5 percent. By comparison.
Latino-owned businesses repre
sent almost 7 percent of the total
number while Asian-American-
owned companies own about 5
percent.
Economic justice advocates
applaud the progress.
CEO and president of National
Urban League Marc Morial said,
"Though the percentage of
black-owned businesses in the
nation is less than half the per
centage of African-Americans in
the general population, the bot
tom line is that more blacks are
their own bosses, and that is a
good thing.’’
Also, what has not changed in
recent years is the type of busi
nesses that African-Americans
own. In 1997, over half of all
black-owned companies were
service related, i.e. beauty salons
or auto repair shops. Much of the
same was reported for 2002,
with health care and social assis
tance service-related businesses
as the most common industry
for black entrepreneurs. The
second most common type was
"other industries,” which
includes personal service com
panies, automotive companies,
and all other service-related
businesses outside of health
care.
Why this concentration on
health and social assistance?
Rose-Goree says that the need-
based nature of these companies
prompts black consumers to
look to black-owned businesses.
"When there is a need,
‘ (African-American consumers)
can freely go with another
African-American company.”
Government contracts com
prise ’’more than half’ of all of
the company’s clients due to the
percentage of the federal budget
that is allotted to minority, dis-,
abled and Veteran entrepre
neurs.
As for the future of black
entrepreneurs, experts see
immense potential. Kyle Moffett,
president of the black business
directory www.usebobo.com,
believes that African-American
consumers are the key to suc
cess for black business owners.
"There is an awareness of self
that has been mounting."
Moffett says. "The number of
consumers that want to know
where the black businesses are
in their area is increasing.”
TEST DRIVE
Audi expensive, but worth every penny
Stretching the wheelbase of Audi’s A8 five or six
inches wasn't necessary, but it’s certainly welcome.
The A8L, as this model is called, has lots of space,
lots of gadgets and a very satisfying driving experi
ence.
The A8L, like its shorter sibling, is of aluminum
alloy space frame and body shell construction. No,
this is not tin foil - uhh, actually it is,
but lighter than steel and just as
strong. Not every body shop can fix
your car if it’s wrecked, but Audi will
give you a loaner if such happens.
The large grill hides the car’s true
jewel - a 4.2-Iiter, 350 hp direct injec
tion V8. Coupled to a six-speed auto
matic transmission, this is one of the
sweetest setups on the planet. If 350
hp is a little wimpy for you, there is a
V12 option, but do not expect to be able to pass a gas
station.
On the road, the A8L is a thing of beauty - to look
Jackson
upon and to drive. The cabin is whisper quiet, except
for the occasional gurgle of the glorious engine. The
ride is taut, but comfortable. You can adjust the sus
pension to a sport setting, which lowers the cars ride
height and stiffens the shocks. You can shift the car
manually from the steering wheel or by moving the
auto shifter.
This car's black and burgundy leather is odd look
ing at first, but then becomes cool looking. There’s
lots of wood (polished walnut, sycamore or birch)
and metal. The wonderful Bose stereo was upgraded
to an even better Bang & Loosen system.
At $72,900, the base model isn’t cheap, nor is it
complete. It takes nearly $20,000 more to totally
trick out the A8L At $97,720 it really, really isn’t
cheap, but is a satisfying package. It competes favor
ably with other cars in its class, which is saying a
great deal.
A hundred grand is rare air for companies that
don’t have Mercedes, Rolls or Bentley in the title.
Audi joins this club with a winner.
Apprentice
has new gig:
Insurance
pitchman
N.C. Mutual turns to
Kwame Jackson
By Cheris F. Hodges
cheffi.hodges® fhecharioffeposf.com
North Carolina Mutual Life Insurance
Company has partnered with Kappa Alpha
Psi Fraternity to reach out to more African
Americans.
For this partnership, former Charlotte res
ident and former "The Apprentice” star
Kwame Jackson has been picked as the
national spokesman.
"It's exciting to see two great legacies
come together and take it to the next level,”
Jackson said on a visit to
Charlotte promoting the part
nership. Jackson is a member
of Kappa Alpha Psi. "It’s the
oldest and largest insurance
company with roots in the
black community. Being a son :
of North Carolina, it all fits.”
North Carolina Mutual
started in 1898 and has been
a catalyst for minority, social
and economy development. President and
CEO James Speed said that unlike the com
pany’s early days where representatives
went door to door in black neighborhoods
to sell polices, there are different challenges
to reach black people.
"One of the things that we’ve tried to do
as company is bring back some of the his
toric significance that North Carolina
Mutual has played over the last 100 years,”
he said.
"As our African American community has
dispersed, it is very difficult to get back into
the community and touch all those people
as we once could.”
Speed said the Kappa partnership allows
North Carolina Mutual to branch out and
reach more blacks. The company also offers
information about its policies and financial
literacy programs through churches around
the state.
Unlike 100 years ago, the company is
licensed to operate in 24 states and
Washington, D.C.
“We looked at areas that are called centers
of influence. We knew the centers of influ
ence were first of all the churches. And we
knew another center of influence (is) the
fraternities and sororities,” Speed said.
Through a partnership with the NAACP.
Speed said company officials met fraternity
representatives.
"We started talking about a parmership,"
he said. “One of the things that we want to
do is continue to provide financial stability
and security for African Americans."
Pension reform
sets trap for
unsuspecting
taxpayers
By U. Angelins Melton
SPECIAL TO T^E POST
The Pension Reform Act, passed into law
earlier this year by Congress, provided a
tremendous number of new benefits relat
ed to pension contribution amounts, pen
sion portability, etc. However, as with
most pieces of legislation, the legislation
contained some changes that will require
adjustments in the amounts the taxpayers
choose to deduct on their 2006 returns.
Two significant changes were made in
the area of charitable contributions. After
the date of enactment, no charitable
deduction will be allowed for unreceipted
cash contributions. Under that interpreta
tion, taxpayers will no longer be allowed
to take deductions for money thrown into
the collection plate at church, for money
thrown into the Salvation Army Santa Bell
'ringer’s kettle, or for anything else donat
ed without a receipt.
Additionally, Congress has toughened
up the requirements for the donation of
goods! After date of enactment, only
donated goods in “ good or better” condi
tion will qualify for a deduction!
Therefore, taxpayers donating goods in
only fair or a lesser condition will no
longer qualify to take a deduction for the
donation of those goods.
For many taxpayers, these types of
donations make up a large portion of their
annual donations, and this change can
have a major impact on their total deduc
tions.
Therefore, we recommend that you noti
fy your clients of change at your earliest
possible convenience.
a ANGEUNE MELTON is a certified pub
lic. accountant in Charlotte. Telephone:
(704) 568-9555.