June 15, 2020
To help you navigate these uncertain times, we’ve compiled timely news and resources related to small business, education and connectivity. We hope this provides both information and comfort as we continue to weather these challenges.
T.D. Jakes Foundation in action
Why should you care about racism and inequality? Hattie Hill, President and CEO of the T.D. Jakes Foundation, says it comes down to two reasons: economics and humanity. Read her post to learn how to move the conversation forward, with the goal of turning mass protests into meaningful change.
In an interview with Kelley L Carter of the Undefeated, Chairman T.D. Jakes explains why “you can’t heal a bleeding wound,” explaining that we need to fix the problem of systemic racism and inequality before we can heal as a nation.
On Friday, Chairman Jakes sat down for an interview with Good Morning Texas, saying he’s optimistic that mass protests in the wake of George Floyd’s death will lead to meaningful change. He says he’s heartened to see the diversity of the protests, which has “taken the conversation from black and white to right and wrong.”
The role of technology
Smart phones have emerged as the most potent weapon in the war against racial injustice in policing. Nicol Turner-Lee, a fellow at the Center for Technology Innovation at the Brookings Institute and a member of the T.D. Jakes Foundation’s in-house STEAM think tank, asks “Where would racial progress in policing be without camera phones?”
Despite tech companies offering statements and donations in support of racial justice issues, an analysis by CNBC found that most technology companies have made little progress in diversifying their workforces in the six years since companies like Alphabet, Apple, Facebook, Microsoft and Twitter began releasing diversity reports.
Will the internet look the same once the pandemic is over? In her Forbes Business Council post, Grace Chen, co-founder and CEO of Common Networks, calls on internet providers to continue to make its services more accessible even after the pandemic, eliminating data caps and hidden fees and boosting speeds.
Despite the global pandemic, Texas remains the state with the second-most job openings in technology, behind only California. According to an analysis by the Computing Technology Industry Association, the Lone Star State had 21,207 IT jobs in May, down 5,310 from April. Read more in The Dallas Morning News.
Small business assistance
The National Minority Supplier Development Council, Inc. (NMSDC) has teamed up with the Business Consortium Fund (BCF) and Midwest BankCentre to support nonwhite business owners who have yet to receive federal funding through the Paycheck Protection Program (PPP). According to an NMSDC survey, more than 60% of its MBEs had not yet gotten funding. Read more here.
On Wednesday, June 10, the Department of Treasury released Paycheck Protection Program (PPP) —Revisions to First Interim Final Rule, which modifies guidelines for how business owners can spend loans. Among the changes, PPP recipients must now spend at least 60% of loan money on payroll costs to receive loan forgiveness, down from the original 75%. Other changes include extension of the “covered period” from eight to 24 weeks, extension of the rehiring period and extension of the forgiveness application window, among others.
The Dallas Independent School District’s Racial Equity Office (REO) Deputy Chief Leslie Williams identified five areas in which the district has made progress. They include increased enrollment in ethnic-studies course, more applications to magnet schools, decreased out-of-school suspensions, a renewed focus on workplace and workforce culture, and students at 18 Dallas schools earning the “No Place for Hate” designation, an initiative geared to preventing, recognizing and responding to bullying and bias practices. Learn more.
Together, we can and will get through this.
President & CEO
T.D. Jakes Foundation
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