The company that calls itself hip-hop's first publicly-traded firm is handing over control to lifelong activist / former political prisoner / fired former NAACP head / one-time Nation of Islam minister / Hip-Hop Action Summit Network leader Dr. Benjamin F. Chavis. H3 Enterprises Inc. is a New York company with plans to create a worldwide chain of HipHopSodaShops, basically chill spots where you can get snacks and enjoy digital entertainment, broadband connections, video games and flat-screen TV goodness. It wants to take advantage of hip-hop's popularity worldwide to make money and lure investors. The strategy will have to be a potent one: because H3's shares are traded on the open market, anyone with enough cash can own a piece of the company and it has to also open its books to the government and the public.
Chavis, who just formed a management company with two other prominent black New Yorkers, will have the weight of all those shareholders to go along with his new job. I interviewed him today and he said he took the job because "the single most important remaining question for African Americans is economic empowerment. One of the things that I intend to do for the rest of my career is put a laser focus on that."
The rest of the interview is too long to post here, but you can read it in full on my other blog at www.blackpeoplesmoney.com as of Saturday.
Comments: (22)
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By: Marian on 6/12/2007 9:34AM
No one and I truly mean no one should put any trust in Ben Chavis. He has hopped around from group to group and is one of the biggest opportunitist today. When his butt was in the sling with the NAACP he did a mad dash to the Nation of Islam and Minister Farrakhan for safety and an income. Then he springboarded through the Nation of Islam to Hip Hop...now this! He does not speak for me.
What next Ben?
MLL
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By: andrea on 6/12/2007 2:09PM
i always giv a black person that tries an opportunity before i dismiss their efforts. alot of people in our community sit back with no plan of action and better yet no actions and dis those of our community that make an effort. we're so hard on ourselves! the bible says unity is key. makes me wonder why we cant unify, are we cursed?
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By: Marian on 6/12/2007 2:30PM
I appreciate your comment and in a few cases it is quite valid. But not here. I suggest you research Ben Chavis' record. How has the Black community benefited from his actions?
My concern is he continues to hop from venue to venue stating his undying commitment until something better comes along.
There is absolutely nothing wrong with personal gain. I own my business and run it with a high degree of integrity and still profit. The majority of our community operates on such principles and we are not sitting back with 'no plan'. Gives us all more concern when we have folk lily pad hopping.
We definitely not a cursed people...from it.
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By: peter on 6/13/2007 12:04AM
The concept sounds good. I'm not so sure that Chavis is the right guy to see it through. As one can see from previous comments, there is a certain amount of negative reaction associated with his name.
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By: Ricardo on 6/13/2007 9:36AM
Say what you want about Ben Chavis. Kind of reminds me of when Rev. Al Sharpton ran for president in '04. Here was my response then and my response now: "If not him, then who?"
I am familiar with his past, but I wholeheartedly support his efforts in this endeavor. I think this is a great idea. If we don't like the man behind the madness, its up to us to "be the man." Until then, we can put aside our differences and work to the good of the whole. My 2 cents
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By: MR PREZ on 6/17/2007 9:51AM
I DON'T KNOW MR CHAVIS PERSONALLY,BUT FROM WHAT I'VE READ ABOUT HIS PAST, HE MAY NOT BE PERSON I WOULD TRUST WITH MY MONEY.
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By: joe b. on 6/17/2007 12:49PM
AS THE SAYING GOES(A FOOL AND HIS MONEY WILL SOON PART)-WHEN YOUR BANK ACCOUNT IS AT $0.00, YOU WILL KNOW WHO THE FOOL IS.!!!!
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By: Judy Lynn Ferguson on 6/17/2007 12:54PM
Opertunist to the bone. Sounds like a quick hit and run to me. When will our people stop profiting off of ignorance? Black people will look real good investing in education empowerment. Our children's future looks very bleak right about now.
we need to take a good look in the mirror and know that we are being distracted by the pagan, and his greed and what he has done to this slaughter house occupied land that they call the United States of America. We are not cursed this land is cursed for all the blood that was shed the pagan.
How can God bless America for all of its greed, robbing, stealing,and killing? We need to stop putting our trust in money and put our trust in GOD!
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By: Angelica on 6/17/2007 12:46PM
When it comes to Hip/Hop aka Rap aka Gangsta Music aka "Blame Your Kids Shortcomings On The Music For Your Horrible Parenting Skills", I don't believe mixing the genre with politics because as you can see, individuals who despise the hip/hop industry is now out to capitalize on it by pretending to enjoy the likes of it for financial gain. However, as the outsiders and haters of hip/hop music will soon realize that the producers of the music will not be interested in conducting business with such phonies like Chavis. In addition, in my opinion the religous hip hop artists will not be interested in this kind of publicity either, for they rely on God, not man for their fulfillment in the once disliked genre of music, which produced in a spiritual manner has gained youth attention and has brought more youths to praise Christ in an environment that appeals to them without listening to the profanity of some artists out there who have no respect for themselves, let alone the purchaser of the music. Chavis has now produced a song called, "Liar" and anyone who invests in his corporate scheme will soon be singing the song, "I Decided I Cried My Last Tear Yesterday," while their on their knees praying to God to help them to recover their money that he will have spent and squandered off and/or used for his financial gain. Make him rich, make you poor.
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By: Eddie G. on 6/17/2007 12:46PM
It appears to me this is someone that is attempting to make a change and some change while he's at it there's nothing wrong about that. My people are always down on some who trys to make money while fixing a problem we all know exist.We have have no financial power base as a nation of color,sure there are those with wealth,but what do we control or own.Those that own get to set the rules.That is all the brother is saying.
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