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☆ For the Black community, bitcoin represents an opportunity for wealth preservation
▼ + stars: | 2023-02-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

But for many in the Black community, that narrative is still alive and it's imperative that people stay focused on it. There's a long game to play, however, particularly for the Black community. For Black people, that's a golden opportunity to level the playing field and give them "sovereignty" over their wealth, said Lamar Wilson, founder of crypto-focused network Black Bitcoin Billionaire. Fast forward to today, and Black people still largely start their wealth building journeys from behind. Still, within that group, at every income level, there's a big difference in the unbanked rates between Black and white households.

Last week, the Bruces’ great-grandsons sold it back to the county for nearly $20 million. However, equally as shortsighted is treating this case as a model for reparations for all Black Americans, as some have suggested. Doing so would ignore that true reparation requires repair, and this solution doesn’t address the sources of racial inequality in America’s real estate system. Invariably, Blacks’ property was most endangered when it became valuable, or when it threatened the value of white property and business interests. In gentrifying housing markets, tax sales serve as a lucrative profit source, whose main victims are Black, elderly and low-income people.

☆ Chili's CEO bought grills that can cook a medium steak in under 3 minutes — and says they could shave more than $5 million in losses from unhappy customers
▼ + stars: | 2023-01-09 | by ( Nancy Luna | ) www.businessinsider.com time to read: +2 min

Over the summer, Chili's was testing drone delivery and dining-room robots to improve operations. But, under new CEO Kevin Hochman, Brinker-owned Chili's ditched robots in favor of kitchen automation. "The robotics were slower than what our servers can do," Hochman told Insider. "The robotics were slower than what our servers can do," Hochman told Insider. That alone is likely to save the company millions of dollars from having to comp steaks sent back by unhappy customers.

☆ Los Angeles County to pay Black family $20 million to buy back wrongly seized beach
▼ + stars: | 2023-01-04 | by ( Brendan O'Brien | ) www.reuters.com time to read: +2 min

Jan 4 (Reuters) - Los Angeles County will spend $20 million to purchase a prime beachfront property from the heirs of an African-American couple who were given the land back a century after local officials unjustly stripped it from them. The Bruce family has informed county officials that they have decided to sell Bruce's Beach to the county for the estimated value of the Manhattan Beach property, Janice Hahn, chairperson of the Los Angeles County Board of Supervisors, said in a tweet on Tuesday. Before it was taken by the county, the property had been a rare resort where Black people could gather and enjoy the beach in segregated and discriminatory Los Angeles County of the early 20th century. When it was returned, the Bruce family had agreed to lease it to the county for $413,000 per year, while the county retained the right to buy it. Reporting by Brendan O'Brien in Chicago Editing by Peter GraffOur Standards: The Thomson Reuters Trust Principles.

The city did nothing with the property, and it was transferred to the state of California and then to Los Angeles County. The county built its lifeguard training headquarters on the land, which includes a small parking lot. And then it turned into a tragic story for my family,” Anthony Bruce, the great- great-grandson of the Bruces, previously told NBC News. And unfortunately, my family was the victim of a hate crime and the prejudice that was around during those times. Hahn learned about the property’s history and launched the complex process of returning the property, including determining that two great-grandsons of the Bruces are their legal heirs.

☆ EV maker Fisker faces liquidity questions after short-seller claims its cash is "tied up"
▼ + stars: | 2022-12-01 | by ( John Rosevear | ) www.cnbc.com time to read: +4 min

Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Electric vehicle startup Fisker is facing new liquidity questions after a short seller report Thursday claimed the company's funds are "tied up." According to the report, much of Fisker's cash balance is tied up via bank guarantees on behalf of Magna International , the auto parts giant that began building Fisker's Ocean SUV under contract last month. "Fisker Inc. does not have a bank guarantee with Magna, and Fisker owns the intellectual property for the Fisker Ocean platform," Fisker said in a statement after the U.S. markets closed on Thursday. With a potential downturn looming, Fisker's cash hoard has provided some comfort to its investors.

☆ My life in NYC revolved around drinking. After I got laid off from Hinge, I moved across the country and started a non-alcoholic wine brand. I'm never going back.
▼ + stars: | 2022-11-18 | by ( Hannah Towey | ) www.businessinsider.com time to read: +8 min

During the pandemic, she moved across the country and started a non-alcoholic wine company. After I was laid off, I started a non-alcoholic wine companyCourtesy of Molly FedickIn December of 2020, I was laid off from Hinge along with a few other people on the marketing team. It was during that time that I came up with the idea for my business Buzzkill Wines, which is a non-alcoholic wine company. So when I stopped drinking, I Googled non-alcoholic wine. I love how inclusive the "sober-curious" movement isLondon's first adult non-alcoholic drink store.

☆ Fire breaks out at Chevron's El Segundo, California refinery
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

Nov 8 (Reuters) - Chevron (CVX.N) said fire crews were responding to an isolated fire inside its 269,000-barrel-per-day El Segundo refinery in California on Tuesday, with no injuries due to the incident. The time of dispatch was 6:13 pm, with a response at the two-alarm level from El Segundo, Manhattan Beach, Redondo Beach and La County Fire, El Segundo fire chief Deena Lee said, adding it was unclear whether the material involved is jet fuel or diesel. Local media reports said the fire had occurred in a particular section in the refinery. read moreCalifornian fuel markets are known for rapidly moving price increases, as they rely on production from West Coast refineries and imports from Asia. Reporting by Arpan Varghese and Ashitha Shivaprasad in Bengaluru; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Fisker confirms production of the Ocean SUV will start later this month, now has over 62,000 reservations
▼ + stars: | 2022-11-02 | by ( John Rosevear | ) www.cnbc.com time to read: +1 min

Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Electric vehicle startup Fisker said Wednesday it is on track to begin production of its first model, the Ocean SUV, later this month as planned — and that it now has more than 62,000 reservations for the vehicle, up from over 56,000 as of early August. CEO Henrik Fisker told CNBC the company plans to manufacture 42,400 Oceans by the end of next year. The majority of those vehicles will be built in the second half of 2023, Fisker said. Fisker said that work on its second model, a low-cost EV called the Pear, is progressing ahead of schedule.

☆ The new allowance rule? Allow for inflation
▼ + stars: | 2022-09-29 | by ( Chris Taylor | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/IllustrationNEW YORK, Sept 29 (Reuters) - If you are feeling the effects of inflation, here is a news flash: Your kid is, too. The year-over-year inflation rate in August was 8.3% – dipping slightly from previous highs, but still eating into parents’ paychecks. Which begs the question: How much should parents factor inflation into their allowance-setting decisions, if at all? After all, the 3.5% year-over-year allowance bump doesn’t really reflect the full scope of all the inflationary pressures out there. “So parents might be giving them extra jobs outside their allowances, in order to compensate for inflation,” he says.

☆ How Jay-Z and Jack Dorsey's Bitcoin Academy provides financial inclusion and breaks down barriers of inequity
▼ + stars: | 2022-09-07 | by ( John Lynch | ) www.businessinsider.com time to read: +16 min

Insider profiled Jay-Z and Jack Dorsey's Bitcoin Academy at the conclusion of its program for Marcy Houses in Brooklyn. For Marcy resident Mariela Regalado, The Bitcoin Academy represented a continuation of an altruism she had seen from Jay-Z firsthand. Lamar Wilson teaching at The Bitcoin Academy. Following the conclusion of its summer courses at Marcy Houses, The Bitcoin Academy is "looking to expand to other neighborhoods soon," the program said. The over 350 people who attended The Bitcoin Academy classes let us know that this education is important to them - and that it matters.

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