Dollars and Sense

It's mid-October, and that can only mean one thing: earnings season is in full swing.
Technically, earnings season is a year-round occurrence as businesses release their quarterly profit/loss reports. These numbers determine how investors respond to the stock market ... but, even more important, they influence the lives of everyday folks. From rising oil prices and a weak dollar to a housing slump and ongoing credit turmoil, these economic problems can be traced back to the performance of publicly traded (and privately held) companies.
By October 19 -- which is also the 20th anniversary of "Black Monday" -- businesses as diverse as Allstate, Google, and Schlumberger will present their earnings results for the third quarter. Financial analysts have forecast good news for these companies' earnings per share amid the latest market "correction." This could be a sign of a healthy economy ... or the foreshadowing of an economic crisis.
Serious investing is about long-term goals, not short-term gains. Unlike playing a game of chance and hoping to beat the odds, making a financial commitment to a company's future involves taking a calculated risk. All investors want to make money, but that alone isn't a strategy. Observing the market over a period of time and studying its many sectors is what separates the "bulls" and "bears" from the "pigs" and "ostriches." (Mutual funds are the most common investing tool.)
Earnings season is an opportunity to gauge one's tolerance for risk vs. reward in uncertain times, because lions may be king of the jungle ... but, on Wall Street, no animal reigns supreme.

The O'Reilly Syndrome

By most standards, Bill O'Reilly dining at Sylvia's isn't a newsworthy event. However, on September 19, he recounted his experience there with Al Sharpton on his Radio Factor show and revealed that he was surprised at the level of civility at the renowned eatery.
Among his statements were it's just like any other restaurant, "even though it's run by blacks," and "there wasn't one person [there] who was screaming, '(Expletive), I want more iced tea.'" After Media Matters for America publicized his comments on September 21, O'Reilly was criticized for being racially insensitive. He says his remarks were meant to be complimentary, but there's nothing flattering about his ignorance of Black culture.
Such beliefs say more about him than they do about Black people, but the scary part is he's not alone in his way of thinking. Was he expecting a gunfight similar to the O.K. Corral when he arrived in Harlem? Was he amazed to learn that Blacks know how to use eating utensils? Did it shock him that Blacks can hold conversations without using foul language? I can't help but question his intellect if he thought Blacks would take kindly to his condescending attitude.
For centuries, Blacks have had to contend with derogatory stereotypes -- some of them not of their making. The sexualized image of the Black woman dates back to slavery, when the master treated her as a tool to be used for the sake of pleasure. Meanwhile, the Black man was seen as nothing but a dumb brute to be kept around for manual labor. In those days, Blacks weren't considered human beings, but uneducated savages.
Fast-forward to the 21st century, and my biggest gripe about how Blacks are portrayed in society through music, movies, and television is the lack of balance. Bad elements do exist in the Black community, but by no means do they define it. The majority of Black people are law-abiding, tax-paying citizens who make positive contributions to the world. If O'Reilly bothered to expand his social circle -- and, by extension, his knowledge -- that wouldn't be such a revelation to him.