“We’re not poor in our community, we’re just not focused. We’re not focusing on our money at all” said Warren Ballentine, attorney and nationally syndicated radio host.
His sentiments were also endorsed by Marc Morial, CEO of the National Urban League. Morial added, “We have to get more wise and intelligent about how we harness our power as consumers. We have to be conscious to think about where we spend our dollars.
And I think it’s two rules. I think we ought to try to spend money with businesses that are in our community, African-American owned. And I think we need to spend money with mainstream businesses that have a presence and a commitment to our community. We can vote with our dollars.”
Both men were speaking on a panel entitled “Inside the Money Pit – Economic Stars Share Secrets to Financial Success“. The event was held during the Congressional Black Caucus Annual Legislative Conference and was produced by Trice Edney Communications. Ballentine served as moderator and other panelists included Omarosa Manigult, Author and Reality TV Star, Michelle Singletary, Financial Expert and Washington Post Columnist, Dr. Julianne Malveaux Economist, John Hope Bryant, Author and Founder, Chairman and CEO of Operation HOPE, Harrine Freeman, Financial Expert, Eddie C. Brown, Founder and CEO, Brown Capital Management and Marc Morial, President and CEO of the National Urban League.
You can view a video of remarks from the event below: