Washington Informer

African American investors report high levels of confidence in their financial future, along with optimism about the political and economic future of the country, according to a recent Wells Fargo nationwide survey. Despite proactive planning and intentional cuts in spending, African American investors remain focused on day-to-day living expenses, with a large majority concerned about having enough money to retire.

Three in five (60%) African American investors express confidence in their own financial future, slightly higher than the national response (52%), while half (52%) report they are better off now than they were three years ago, same as the general population.

"The optimism and confidence articulated by African American investors is encouraging, particularly as those surveyed are feeling financially better off than they were three years ago," said Jeff Cosby, Financial Advisor and Vice-President, Investment Officer in the Bloomington, Minnesota office of Wells Fargo Advisors, Wells Fargo.

"Where we see the biggest opportunity is helping people really consider how they are approaching saving and planning for retirement. It is important for financial advisors to help investors think through long-term strategies for investment planning, while also providing guidance on common concerns like how to balance paying off debt while continuing to save for retirement."

While African American investors have made progress in retirement planning and preparation, most are concerned about having enough money to retire. African American investors are taking necessary steps toward preparing for retirement, as 45% of those surveyed have cut back on their spending to put away money for retirement (compared to 36% of the national population), and two in five (40%) non-retired African-American investors have a retirement savings plan in place (similar to the national population, 42%). Among non-retired African-Americans, having a plan is most prevalent among those earning over $100,000 annually (68% earning more than $100,000 have a plan vs. 35% of those earning less than $100,000.).

Compared to the US overall, African American investors are less likely to consider themselves financially comfortable (38% vs. 51% overall). More than a third (36%) of non-retired African American investors surveyed report that their biggest financial concern is paying their monthly bills; saving for retirement ranks second at 22%, followed by healthcare costs at 15%. Three in five African American investors are more focused on debt reduction (59%) than saving for retirement. And just over half (52%) of those surveyed are concerned they won't have enough saved for retirement (similar to all adults). African-American investors less than 50 years old are particularly concerned (64%, vs. 39% of those ages 50 and over).

Just over a third (36%) of African American investors are confident in knowing where to invest in today's market (similar to the national population, 31%).

"All investors -- regardless of age or level of savings -- should be focused on planning for retirement, and turning plans into actual saving and investing," said Cosby. "Many African American investors, much like the general population of overall investors, find investing in today's economy daunting. It's important to seek advice from a trusted professional to help navigate the ups and downs of the market, with an eye on long-term financial goals. It can be scary, but with all the resources and tools available, it can be done."

Living in multi-generational households also has a significant impact on African American investors' savings, as a number of respondents are caring for their own children, as well as aging parents or grandparents. One in five (20%) African American investors surveyed report living in three-generational households. Three in four (77%) African American adults surveyed who live in three-generational households are concerned they will not save enough to support themselves in retirement, compared to just 46% of those outside of multi-generational households.

Almost three quarters of African American investors (73%) are optimistic about the political direction of the country, significantly higher than the general population (43%), while four in five (83%) feel the U.S. economy will improve in the next two years (compared to 47% of the general population). Seventy-two percent of those surveyed expect their local economy to improve in the next two years (compared to 45% of the overall adult population), and nearly three in four see improvements in their local housing market (71%, vs. 54% nationally).

As part of Wells Fargo's proactive outreach to the segment, the company is focused on providing financial education for African American consumers to empower them to achieve financial success. Wells Fargo has developed a comprehensive financial education platform that offers guidance on financial topics that resonate with the segment.

Through relationships with national and community organizations and media outlets nationwide, Wells Fargo uses print, digital and workshop formats to deliver financial solutions to a broad range of audiences. An additional Wells Fargo resource is My Financial Guide, an online resource consisting of articles, videos and tools aimed at helping consumers become more confident and knowledgeable in money management.

These survey findings are based on an online survey conducted November 9 - December 3, 2012 among adults nationwide (N=1,105) and African American adults (N=500). Qualified respondents were non-students, ages 25-75, who are the primary or joint financial decision-maker in the household with household investable assets of at least $10,000. Survey results are weighted to reflect Census data for gender, age, race/ethnicity, region and household income to ensure representativeness. Assuming no sample bias, the maximum margin of error for the National sample is � 2.9% and � 4.4% for African American adults. Complete survey results are available upon request.

Robin Kelly, a Democrat from Matteson, Ill., has been sworn into office as her state's new congressional representative. She replaces her beleaguered predecessor, Jesse Jackson Jr., who was forced to resign earlier this year amid an investigation into how he spent campaign funds.

In her first remarks Thursday on the floor of the House of Representatives, Kelly, 56, said that although children should be protected from gun-wielding criminals, 2nd Amendment rights should be preserved.

"We can do both," she said in reference to the ongoing gun debate.

Kelly, 56, won a special election on April 9 to replace Jackson ,47, who was once a political ally.

He currently awaits sentencing in June for using thousands of campaign dollars for personal expenses. His wife, former Chicago Ald. Sandi Jackson, awaits sentencing on a related income-tax violation.

(Source: The Chicago Tribune)

Strathmore Presents Gladys Knight

Empress of Soul reigns during special two-night concert engagement

NORTH BETHESDA, MD – Eight-time Grammy winner Gladys Knight has packed many lifetimes into a career that has embraced gold records, sold-out concerts, film performances and most recently a spin on "Dancing with the Stars," and on Thursday and Friday, April 25 and 26 at 8 p.m. she brings her showmanship and soul-stirring voice to Strathmore.

Georgia-born Gladys Knight began her ascent in music after forming The Pips with her brother and cousins, which later became Gladys Knight and the Pips. The group debuted their first album in 1960, when Knight was 16 years old, going on to achieve icon status with memorable songs of the 1960s, 1970s and 1980s, Top 20 hits like "Every Beat of My Heart," "Letter Full of Tears," "I Heard it Through the Grapevine" and the #1 smash "Midnight Train to Georgia." Knight enjoyed another #1 hit in 1985 when she teamed with Stevie Wonder, Elton John and Dionne Warwick on "That's What Friends are For." Knight has recorded more than 40 albums over the course of her career.

Her involvement in other creative undertakings has been extensive. In 1986, she produced and starred in the Cable Ace Award-winning "Sisters in the Name of Love," an HBO special co-starring Dionne Warwick and Patti LaBelle. That same year, she co-starred with Flip Wilson in the CBS comedy "Charlie & Co." Other acting roles followed on such TV shows as "Benson," "The Jefferson's" and "New York Undercover," and in such television films as "Pipe Dreams," "An Enemy Among Us" and "Desperado." She recorded the title theme for the James Bond movie License to Kill. In 1999, she completed a starring run on Broadway in the smash musical hit Smokey Joe's Café.

In 1995, Knight earned her star on the Hollywood Walk of Fame, and the next year, Gladys Knight& The Pips were inducted into the Rock 'N' Roll Hall of Fame. Knight published an autobiography, Between Each Line of Pain and Glory, in 1997, and the next year, she and The Pips were presented with the Lifetime Achievement Award from the Rhythm & Blues Hall of Fame. In 2004, Knight received the Lifetime Achievement Award at the annual BET Awards ceremony.

For more information or to purchase tickets, call (301) 581-5100 or visit www.strathmore.org.

Washington Redskins star Stephen Bowen and his family will join thousands at March for Babies in support of the March of Dimes work of helping moms have full-term pregnancies and babies begin healthy lives. The Bowens tragically lost one of their twin boys to a premature birth. Sadly their story is too common. "That was just the worst day of my life," Stephen said. "Just knowing I'm looking at my son opening his eyes, and you see him drifting away in my arms. It was the last time I was ever going to see him. Ever."

He continued, "Everybody just thinks of babies being born healthy but nobody ever thinks about the different things that could go wrong during pregnancy. Just being part of that first hand, I just want to do whatever I can to help."

Like thousands of other families who have experienced both the greatest loss and triumph the Newborn Intensive Care Unit (NICU) has to offer, Stephen and Tiffany will walk in March for Babies to raise money for the March of Dimes mission to combat prematurity through research and education. They will attend the Washington, D.C. walk, which will be held Saturday, May 4 at 8:00 am at Nationals Park where the Jumbotron will capture the moment when each person finishes the three-mile route by crossing home plate.

There are numerous walks across the Washington Area April 27 - May 8. Prince George's March for Babies will be held Saturday, April 27 at 9:30 am, at Watkins Regional Park in Upper Marlboro. Both events include a stroller-friendly walk, children's activities and music.

Funds raised will support lifesaving research, education and advocacy for stronger, healthier babies. March for Babies donations also fund community programs such as NICU family support programs and the Mama & Baby Bus, which provides free prenatal care to those in Washington, D.C. and Prince George's County who would otherwise not receive care.

"One of today's most urgent health problems in the nation is premature birth," said Kate Leib, director of field services for the March of Dimes Maryland – National Capital Area Chapter. "Everyone who participates in March for Babies is giving hope to the more than 10,000 babies in the Washington Area that will be born premature this year."

March for Babies events are held in 900 communities nationwide and has more than seven million participants each year. Since the inaugural walk in 1970, more than $2 billion has been raised nationwide to benefit babies. For more information about March for Babies and to register and make a donation, visit www.marchforbabies.org.

This is a milestone year for the March of Dimes, which is celebrating its 75th anniversary. President Franklin D. Roosevelt established what would become the March of Dimes to fight polio and the foundation has been caring for America's children ever since.

Remembering Septima Clark

I am a faithful reader of the Washington Informer and love the wonderful articles you provide on a weekly basis. But every once in a while there's an story in the paper that sparks something in me, that makes me want to know more about the subject, the time, and the history. The article by Dr. Thandekile Mvusi, "Remembering Septima ..." in the April 4, 2013 edition is that kind of article.

I must admit, I had never heard of Septima, and I'm probably not the only one. What a fascinating and courageous individual Septima Poinsette Clark must have been.

Now, I want to know more about her and the work that she did during that volatile time in our history. We must continue to write our own history, and we must continue to shine a spotlight on those who worked for the rights of all people, but especially black people in America.

Ruben McGee

Washington, D.C.

Bring Jobs Along with the Ward 8 Renaissance

In the article, "Barry, Gray: Ward 8 is on the Move," by Barrington M. Salmon, which appeared in the April 4, 2013 edition, everyone seemed to be touting all of the development coming to Ward 8. Well, what about jobs? I mean jobs for the current residents of Ward 8. What good is developing the ward if the residents still can't find any work? Don't the mayor and the rest of his partners recognize that we know the drill? It's the same one that has taken place all over the city: They erect new buildings, new companies set up shop, new restaurants open, and new homes are under construction. All of this attracts new residents, but there are no new jobs for the residents who have lived in the ward for decades, that's what they do.

Jobs and job training are what we need. How can we be more independent if we don't have jobs? Without training we will continue to be told we are not qualified when we apply for the jobs that are coming to Ward 8. Let us know when there are going to be job fairs at all of these new construction sites; that's what we want to hear. Let us be a part of this so called wonderful and exciting time rather than just standing on the sidelines watching it happen all around us.

Darryl M. Hancock

Washington, D.C.

Prince George's County Public Schools:

Baker: 'June 1 Schools Takeover a Good Compromise'

Prince George's County Executive Rushern Baker said during an April 8 broadcast interview that a bill that makes him accountable for the outcome of public education in the county is a good compromise that should move forward for Gov. Martin O'Malley's approval.

While Baker's historic proposal to be made accountable for the progress of the county's 125,000 students has been adopted, it apparently caught many off guard during a recent late session of the General Assembly in Annapolis.

"It's a big deal and I asked that the General Assembly hold the county executive accountable for improving education," said Baker, "and right now under the structure that we have, we give $1.7 billion to the school system." Baker added that while his request is not the bill that he submitted to the General Assembly, it equates to a good compromise.

"It gives me what I want, which is more accountability and the ability to use all of the resources of the government to help move our education system forward," Baker said.

He added that his request to take over the school system – which passed in the Assembly on April 6 in a vote of 81-45 – also keeps in place, the school board, allowing its members to focus on both academic achievement and the budget.

District of Columbia Public Schools

DCPS Prepares for Summer School Program, SYEP Involvement

With the regular school term coming to an end in a about six weeks, District of Columbia Public Schools (DCPS) officials are making several improvements to the centrally-run Kindergarten through 8th-grade Summer School program.

Plans call for inviting certain students to enroll who will benefit most from the program based on their progress in reading during the school year. In this regard, parents and guardians of students in grades K-8, will receive letters of invitation to register their children.

Enrollment for K-8 Summer School is online this year. Parents and guardians can go to the following link to register their children to participate in this program: dcps.dc.gov/DCPS/summer13.

Summer Bridge Program

DCPS will follow up on the success of last year's Summer Bridge program by offering the program at selected high schools. The number of sites is being expanded to strengthen the connections between students and the high schools they will attend, with the program focusing on high school readiness and academic support in mathematics and literacy.

Summer Youth Employment Program

DCPS's partnership with the Summer Youth Employment Program (SYEP) allows students experience in connection with job, college and career readiness, as well as to earn money during participation. However, students who are not involved in SYEP can earn an elective credit toward graduation if they satisfy the program's requirements.

Uhuru Kenyatta has been sworn in as the youngest-ever president of Kenya, with numerous heads of state and the Rev. Jesse Jackson having attended the April 9 inauguration in Nairobi that attracted a massive crowd.

Kenyatta was named his country's fourth president following a prolonged election dispute that ended up in the Kenyan Supreme Court.

Kenyatta, the 51-year-old son of Kenya's founding leader, won the election with 50.07 percent of the vote.

His chief rival, Raila Odinga, who challenged the outcome in court claiming it was flawed and marred by technical problems, garnered 43.31 percent of the vote.

However, after the court upheld Kenyatta's election, Odinga offered his congratulations.

"The court has now spoken," Odinga said. "I wish the president-elect and his team well."

(Source: CNN)

The sister of the late "Green Mile" actor Michael Duncan Clarke wants his fiancé investigated over his will.

According to a report on Black America Web, Judy Duncan is accusing Omarosa Manigault, who'd been living with Duncan at the time of his death last year, tricked the star into re-writing his will, leaving her with nothing. The BAW report further states that Judy Duncan told TMZ that she hired a lawyer to investigate the circumstances behind Omarosa's becoming the main beneficiary of her brother's will.

Judy Duncan claims that Clarke was not of sound mind months before his death, and that as December 2011, was slurring his words and stumbling around.

In addition, the actor's sister claims that Omarosa was focused on his money as he was struggling on life support, and that without his family's knowledge, allegedly sold off lots of the actor's personal items such as his watches, cars, his "Green Mile" director's chair and awards.

Omarosa responded in an interview with TMZ that: "I don't control the estate or the finances and Judy knows it. If you saw all of her emails and texts to me you would see that she is just trying to get money from me, and threatened going to press if I did not give it to her and that is a crime!"