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Chicago's black businesses


Target Market News has introduced Black Business Chicago, a new monthly which will spotlight news and features on Chicago's African-American businesses, corporate executives and local economic issues. The publication will also be supplemented by a Web site, blackbusinesschicago.com, that will provide updated coverage of relevant business news on a daily and weekly basis between issues of the monthly print publication. Click for more ____________________________________

Buying Power report: Blacks spend as economy grows
New 16th edition shows $507 bil in spending



The finding comes from the 16th annual edition of "The Buying Power of Black America" report. In 2009, black households spent an estimated $507 billion in 27 product and services categories. ...

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Inner City files suit against YMF Media, debtholders to recover art collection

(August 16, 2012) The phrase, "the art of the deal" has taken on an ominous reference in the legal wrangling between Inner City Broadcasting Corporation and its debtholders. ICBC filed suit against YMF Media, Yucaipa, Drawbridge Capital and Fortress Capital, as well as receiver Robert Maccini over 15 art pieces that were removed from ICBC offices.

According to news accounts, the suit claims that the 15 works by African-American artists are the property of CEO Pierre "Pepe" Sutton and not ICBC. The filing says that the works were shipped to Philadelphia to an art storage company. Sutton said he only learned of the seizure when two pieces that were lent for display were requested by their owners. Lawyers are ICBC are asking for the return of all the works and $5 million in punitive damages.

YMF and the debtholders have not responded to the suit, which was filed in U.S. Bankruptcy Court in New York.


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