Black contractor braves threats in removing Richmond statues

RICHMOND, Va. (AP) — Devon Henry paced in nervous anticipation, because this was a project like nothing he’d ever done. He wore the usual hard hat — and a bulletproof vest.

An accomplished Black businessman, Henry took on a job the city says others were unwilling to do: lead contractor for the now-completed removal of 14 pieces of Confederate statuary that dotted Virginia’s capital city. There was angry opposition, and fear for the safety of all involved.

But when a crane finally plucked the equestrian statue of Gen. Stonewall Jackson off the enormous pedestal where it had towered over this former capital of the Confederacy for more than a century, church bells chimed, thunder clapped and the crowd erupted in cheers.

Henry’s brother grabbed him, and they jumped up and down. He saw others crying in the pouring rain.

“You did it, man,” said Rodney Henry.

Success came at some

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Black Americans Pay More For Homes Than Any Other Group: Study Finds

A new study from MIT has found that Black Americans pay more for homeownership than any other group.

Black Americans, HomeownershipJoe Raedle / Getty Images

The study, conducted by Edward Golding, executive director of the MIT Golub Center for Finance and Policy, reports that Black Americans pay more for mortgage interest, mortgage insurance, and property taxes than other homeowners.

The disparities are as follows: $743 per year in mortgage interest payments, $550 a year mortgage insurance premiums, and$390 per year in property taxes. All-in-all this accounts for a $67,320 loss in retirement savings for Black homeowners over 30 years.

“The small differences compounding over the life of the mortgage and during homeownership can add up,” writes Golding. “Even if it is a few hundred dollars a year here and there, it can amount to another year’s salary families would otherwise have.”

“While mortgage costs are determined by markets to some extent,” said

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Study Shows Black Americans Are Paying More to Own Homes

In a new study from MIT, it has been reported that Black Americans are often forced to pay more than any other group of individuals to own a home.

CNN reports that Black homeowners on average pay more in mortgage interest, mortgage insurance, and property taxes than other homeowners. Written by Edward Golding, MIT’s executive director of the Golub Center for Finance and Policy, the paper concludes that the vast difference between what Black homeowners and white homeowners pay indicates that it’s considerably more difficult for Black homeowners to accumulate wealth through ownership at the same rate as white homeowners. 

The differences between mortgage payments is $743 per year, mortgage insurance premiums $550 per year, and property taxes at $390 per year. Totaling $13,464 “over the life of the line,” the gap could result in up to $67,320 in lost retirement savings. 

“The small differences compounding over the life of

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Huge Walmart Sale With Black Friday-Type Deals Starts Today

With Amazon Prime Day right around the corner, retailers have begun revealing promotions that will compete with the massive annual sale. Target’s Deal Days sale will run concurrently alongside Prime Day on October 13 and 14. Walmart’s approach is a tad different, as the big-box chain’s sale starts earlier and ends later than Prime Day. Walmart’s Big Save event kicks off today, October 11 at 4 PM PT / 7 PM ET and runs through October 15.

You can expect the Big Save sale to hone in on Amazon’s territory with discounts on tech, entertainment, gaming, home goods, and much more. Walmart has stated that the Big Save sale will feature Black Friday-type prices, so you can get some holiday shopping done early at the lowest possible prices.

Walmart has revealed a small sample of the deals that will go live this Sunday. You’ll be be able to get a

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Huge Walmart Sale With Black Friday-Type Deals Starts Sunday

With Amazon Prime Day right around the corner, retailers have begun revealing promotions that will compete with the massive annual sale. Target’s Deal Days sale will run concurrently alongside Prime Day on October 13 and 14. Walmart’s approach is a tad different, as the big-box chain’s sale starts earlier and ends later than Prime Day. Walmart’s Big Save event kicks off on Sunday, October 11 at 4 PM PT / 7 PM ET and runs through October 15.

You can expect the Big Save sale to hone in on Amazon’s territory with discounts on tech, entertainment, gaming, home goods, and much more. Walmart has stated that the Big Save sale will feature Black Friday-type prices, so you can get some holiday shopping done early at the lowest possible prices.

Walmart has revealed a small sample of the deals that will go live this Sunday. You’ll be be able to get

Read More Read more

Huge Walmart Sale To Offer Black Friday-Type Deals Starting This Sunday

With Amazon Prime Day right around the corner, retailers have begun revealing promotions that will compete with the massive annual sale. Target’s Deal Days sale will run concurrently alongside Prime Day on October 13 and 14. Walmart’s approach is a tad different, as the big-box chain’s sale starts earlier and ends later than Prime Day. Walmart’s Big Save event kicks off on Sunday, October 11 at 4 PM PT / 7 PM ET and runs through October 15.

You can expect the Big Save sale to hone in on Amazon’s territory with discounts on tech, entertainment, gaming, home goods, and much more. Walmart has stated that the Big Save sale will feature Black Friday-type prices, so you can get some holiday shopping done early at the lowest possible prices.

Walmart has revealed a small sample of the deals that will go live this Sunday. You’ll be be able to get

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Decade-Old Predatory Loans Plague Some Black Homeowners In Prince George’s County : NPR

Zalee Harris, 63, lost her Temple Hills home after fighting her predatory loan foreclosures for almost a decade.

Tyrone Turner/WAMU


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Tyrone Turner/WAMU

Some homeowners in Prince George’s County are grappling with the current recession while still mired in debt from predatory home loans from the last recession.

The 2008-2009 subprime mortgage crisis left thousands of homeowners in Maryland — which was third in the country for foreclosures — strapped with loans that were initially low before ballooning dramatically. Black homeowners — particularly in Prince George’s County which was hardest hit in the state for foreclosures — were often targeted for these loans. Many didn’t find out about the high cost of the loans until receiving a notice for intent to foreclose, years after the housing crisis had supposedly ended.

And when they try to seek help to avoid foreclosure, they’re mostly told to get a hard-to-obtain

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Black Americans are leaving their homes to start their own all-Black communities

This report is part of “Turning Point,” a groundbreaking series by ABC News examining the racial reckoning sweeping the United States and exploring whether it can lead to lasting reconciliation.

For now, the small parcel of land known as Freedom, Georgia, is just a campground on red clay under the hot sun. But for the Black Americans who are moving here, it’s a dream.

So far, about 19 families, most of whom are from Georgia, have pooled their money to buy the nearly 97 acres of land in Wilkinson County, which is located about two hours south of Atlanta. It’s their escape, they said, from the everyday racism that feels like a part of life in the United States.

PHOTO: About 19 families, most of whom are from Georgia, have pooled their money to buy the nearly 97 acres of land in Wilkinson County, which is located about two hours south of Atlanta to establish Freedom, Georgia.

About 19 families, most of whom are from Georgia, have pooled their money to buy the nearly 97 acres of land in Wilkinson County, which is located about two hours south

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Hexion Inc. Announces Agreement for Sale of Phenolic Specialty Resins, Hexamine and European-based Forest Products Resins Businesses to Black Diamond and Investindustrial

COLUMBUS, Ohio–(BUSINESS WIRE)–Hexion Inc. (“Hexion” or the “Company”) today announced that it has entered into a definitive agreement to sell its Phenolic Specialty Resin, Hexamine and European-based Forest Products Resins businesses for approximately $425 million to Black Diamond and Investindustrial. The consideration consists of $335 million in cash and certain assumed liabilities with the remainder in future proceeds based on the performance of the business.

Together, these businesses posted sales of approximately $530 million for the last twelve months ended June 30, 2020. The transaction includes approximately 900 associates and 11 manufacturing facilities globally where phenolic specialty resins and engineered thermoset molding compounds are produced for a wide range of end markets including building and construction, industrial, automotive, electronics, agriculture and consumer.

The Company expects to use the sale proceeds to invest in its business and further reduce its debt. The transaction is intended to close in the

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Homes in Black and Latino neighborhoods still undervalued 50 years after US banned using race in real estate appraisals | The Conversation

(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.)

Junia Howell, University of Pittsburgh and Elizabeth Korver-Glenn, University of New Mexico

(THE CONVERSATION) The Research Brief is a short take about interesting academic work.

The big idea

Racial inequality in home values is larger today than it was 40 years ago, with homes in white neighborhoods appreciating $200,000 more since 1980 than comparable homes in similar communities of color.

Our new research on home appraisals shows neighborhood racial composition still drives unequal home values, despite laws that forbid real estate professionals from explicitly using race when evaluating a property’s worth. Published in the journal Social Problems, our study finds this growing inequality results from both historical policies and contemporary practices.

In the 1930s, the federal government institutionalized a process for evaluating how much a property was worth. Often called redlining, this process used

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