HU TO HOST 26th ANNUAL BLACK FAMILY CONFERENCE

Hampton, VA - Hampton University’s School of Business will host the 26th annual Conference on the Black Family March 17-19. This year’s conference will focus on "Economic Development and Family Wealth Creation" as the spending power of African Americans continues to strongly support the U.S. economy.

" Studies show that Black consumers have a gross income of over $500 billion, but our inadequate savings and investments do not support our economic growth," said Dr. Sid Howard Credle, dean of the School of Business. "We are not acquiring income producing assets like land or homes and investments at a level consistent with our capacity. Too many are straining to buy the fancy car with spinning rims, cell phones and ‘bling bling’ for their ears and wrists. We need to change that type of behavior."

The conference will focus on income generation and protection, savings and investment strategy, and wealth creation for the African-American community.

"The wealth gap, although closing, is still of major concern," Credle said. "At this conference, we’re hoping to produce a document that will give guidelines and strategies to preserve income and generate wealth."

The opening keynote speaker, Frank Ross, former Mid-Atlantic Area Managing Partner for KPMG LLP, will speak Wednesday, March 17 in the Student Center Ballroom at 7 p.m. Ross is also one of the founders of the National Association of Black Accountants (NABA).

Additionally, Kim Saunders, president of Consolidated Bank & Trust, will speak Thursday, March 18 at 9:30 a.m. in the Student Center Ballroom. The Consolidated Bank & Trust is the oldest African-American bank in the nation. Motivational speaker Stephen Peters, president of the Stephen Peters Group and recently featured on the Oprah Winfrey Show, will be the closing luncheon speaker March 19 at 12 noon in the Student Center Ballroom.

Some of the sessions include "Family Budgeting and Personal Finance," "Career Choice and Opportunity for Family Wealth Creation", "Managing Your Resources and Estate Planning." On March 19 in the Student Center Theater, a "Village Hall Meeting" will be held to discuss "Designing the Black Family Economic Manifesto."

"Many African Americans appear to be pessimistic about the future and as a result don’t plan for it," Credle said. "Many of us have forgotten to prepare our Last Will and Testament. Many have difficulty with understanding the finance terms and the effect of business terminology being employed when faced with financial decisions. And that’s why the purpose of this conference is an attempt to mold and educate African Americans towards money management and wealth accumulation. We want to highlight the importance of recycling money in our communities, for example doing business with black banks, and investing in non-depreciating products."

In 1978, President William R. Harvey recognized the necessity of establishing consistent dialogue on health care, technology, business, handgun violence, income disparities and women's issues. As an outgrowth of the Black Family Institute, Harvey further committed the University's scholarly resources to finding solutions to the problems that affect African Americans and minority community by initiating an annual Conference on the Black Family.

The Frank Smith family will be The Honored Black Family. The Smiths are owners of the Sphinx Financial Group in Williamsburg.

There is a $55 registration fee for the conference. For more information or to register call Thomas Harris at (757) 727- 5361 or email thomas.harris@hamptonu.edu.