Black Money: Is the American Dream Dead for Autoworkers?

There was a time, not very long ago, when getting a job on the production line at a big automaker meant an instant ticket to the American dream, even for someone with little formal education. Not anymore.

"The minute you signed the paper, you were instantly vaulted into the middle class," said Mike Smith, director of Wayne State University's Walter P. Reuther Library in Detroit, named for the founder of the United Auto Workers, the union that represents auto workers.

A shrinking paycheck. As the auto industry undergoes a sea change, the government has demanded that Chrysler and General Motors (GM, Fortune 500) bring their labor costs in line with foreign competitors operating non-unionfactories in the U.S.

Today, an entry-level auto-worker will be making $14 an hour, compared to the $28 "base rate" the job had earned before, according to a summary of Chrysler's contract agreement.

 

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Xerox Puts a Black Woman in Charge – a Corporate First

Xerox named Ursula Burns to succeed Chief Executive Anne Mulcahy, in a move that makes Burns one of the most prominent African-Americans to head a Fortune 500 company.

Mulcahy, 56, an economic advisor to Barack Obama during the U.S. presidential transition, will retire as CEO on July 1. She is a 33-year veteran of Xerox, where she became CEO in 2001.

An avid biker, Burns, 50, will join a list about 15 women CEOs of a Fortune 500 company and become one of only a handful of African American CEOs. She joined Xerox in 1980 as an engineering intern, was named president in 2007, and had been groomed as the next CEO by Mulcahy. [ID:nN19438536]

Mulcahy, who has been credited with revitalizing the world's top supplier of digital printers and document management services, and also serves on Citibank's (C.N) board of directors, will remain as the company's chairman.

 

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Dr Boyce Money: Do Your Kids Have a Plan for Your Death?

For more financial advice, visit www.DrBoyceMoney.com.

It may shock you to read this, but you are going to die. Young people don't seem to believe they are ever going to leave the earth and even old folks aren't ready to accept it. Many of us become sole providers for our families under the assumption that we are going to be around forever. Well, there comes a time when we must realize that if we get into our car and head out to work one morning, we may never come back.

What happens to those we leave behind? They are left to clean up the messes that we've left, and you probably know at least one person who has gone to a funeral and watched their daddy's dirty laundry pour itself out all over the front row. The funeral is a day of reckoning, from both a personal and financial standpoint. The point of death is when the Grim Reaper makes us reap what we have sewn throughout our lives.

How do you determine whether or not you have enough life insurance? Let me break it down for you.

Continue reading Do Your Children Have a Plan for your Death? You Might Want to Think Again

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Dr Boyce and Tia Talk Love, Money and Gotti’s Way

Hip-hop "mogul" Irv Gotti has gotten tremendous criticism for mistreating his estranged wife, Deb. Let's be real, Irv is mean and appears to be highly inconsiderate. He cheats on Deb openly, disrespects her and doesn't seem to care if she stays or goes.

"Irv Gotti treats his wife worse than an abandoned dog in a pound," says black celebrity gossip columnist, Lady Drama. "Any man who treats his wife like that should walk through hell with gasoline soaked pants."

But while Irv does his thing and does it wherever and with whomever he likes, his wife may not necessarily be an innocent victim. She has the opportunity to leave him and be with another man. She can draw boundaries on the relationship and not deal with his behavior. But she does not. Why is that?

In this episode of Financial Lovemaking with Dr. Boyce, we talk about Gotti and what he and his wife can do to make things right. We also answer some critical and important questions.

Continue reading Financial Lovemaking with Dr. Boyce: Is Irv Gotti's Way the Right Way?

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Dr Boyce and Tia Analyze Money and Love

Are wealthy men allowed to cheat and get away with it?  Dr. Boyce and Tia analyze this in the latest episode of Financial Lovemaking.

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