Annual Edition 'Buying Power of
Black America' report breaks down billions in expenditures Black
consumers are responding to tighter economic condition by focusing more of
their spending on items and services that improve their homes and
lifestyle. That's one of the trends revealed in the 15th annual report,
"The Buying Power of Black America," published by Target Market News. The
report analyzes spending for black households in 2008 and finds that
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Ed Towns and the Madison Avenue Initiative to host CBC ad industry forum
7, 2010) A public forum to take an in-depth look at the disparities
minorities face in the advertising industry will be hosted by Rep.
Edolphus Towns, D-NY, at the upcoming Congressional Black Caucus
Foundation's Annual Legislative Conference. The forum titled "Shut Out:
Evaluating Madison Avenue for Disparity in Advertising, Media and
Creative Services," will be held Saturday, Sept. 18, 10:30 am - 12 noon,
143C at the
Walter E. Washington Convention Center.
The event is a collaborative effort of Rep. Towns, Rev. Al Sharpton,
founder and president of the National Action Network, and Munson Steed,
director of NAN's Madison Avenue Initiative (MAI). The three have
assembled a distinguished panel to discuss, analyze and present
solutions and actions needed to achieve a more diverse workforce within
the advertising industry and parity for black ad agencies and media
companies not getting a fair revenue share.
"It has been 46 years since the signing of the Civil Rights Act of 1964,
and advertising and marketing continue to be among the most segregated
of America's most vital industries," said Sharpton. "Despite decades of
efforts at turning itself around, the advertising business seems
inherently unable to bring about a culture of inclusion."
"We're joining Rep. Towns at the CBC conference to launch Madison Avenue
Initiative's thorough investigation into the disparities and business
practices that are impacting negatively the urban community, urban
youth, and the minority business community," said Steed, who is also CEO
of Steed Media Group. "Many reputable companies are in crisis. MAI is
working to create new opportunities to close the gap."
"Madison Avenue Initiative will stay engaged with me as we work to
achieve parity for black marketing professionals who remain unemployed
or underemployed and agencies and media in crisis because of systemic
bias against them," said Rep. Towns, Representative for New York, 10th
District, and Chairman, Committee on Oversight and Government Reform.
"I plan to remain involved to see this issue is rectified."
Panelists for the forum include Adonis Hoffman, Esq., chairman, American
Business Leadership Institute and author of "Doing Good: The New Rules
of Corporate Responsibility;" Jason Chambers, Professor, Univ. of
Illinois and author of "Madison Avenue and the Color Line;" Cyrus Mehri,
founding partner, Mehri & Skalet, PLLC., and Marc Bendick, Jr., Ph.D.,
co-principal, Bendick and Egan Economic Consultants, Inc., and author of
"Research Perspectives on Race and Employment in the Advertising
Industry." Ken Smikle, president of Target Market News, is the