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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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Equals Three agency cuts staff, office space after loss of US Navy contract

(October 11, 2012) The Equals Three Communications marketing firm of Bethesda, Maryland has confirmed published reports that it has decided to continue operations as a virtual agency. It is giving up most of its office space after its contract with the US Naval Special Warfare Command was not renewed.

The new contract to increase ethnic diversity within the Navy SEALs was awarded to iHigh Marketing of Lexington, Kentucky. iHigh, which is not minority-owned, is part of Sports Illustrated and the CNN Digital network.

The assignment includes outreach and recruitment activities targeting African-American, Hispanic, Arab-American, Asian and Pacific Islander consumers ages 16 - 24, according to RFP documents. The budget for the first year was approximately $1.3 million. Navy officials would not say why they did not retain the incumbent agency.

Eugene Faison (pictured), CEO of Equals Three, said that losing the account created severe financial hardship for the agency. Though the marketing firm still has a number of multi-year, multi-million dollar contracts with other federal agencies and clients, it has been difficult managing the lack of request for work on the multiple contracts while maintaining staff to implement the work. In addition to leaving its main office, it also made cuts to its staff of 23.  

"Our agency has been transitioning to a virtual office model for some time now," Faison told Target Market News. "Using cloud computing and other technologies, we'll continue to provide excellent marketing, advertising and branding services for our clients in both the public and private sector. The need for outreach to multicultural markets continues to grow, and we'll bring our three decades of experience and insights to creating success for all those who seek relationships with these consumers."

For 28 years, Equals Three has been an award-winning agency developing successful social marketing communications campaigns for government agencies, domestic and international nonprofits, and private sector clients. The firm offers  research and strategic planning, creative services, advertising, marketing and branding, public relations, grassroots mobilization, partnership building and a specialization in multicultural outreach.

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Rainbow PUSH unveils industry scorecard initiative at its Automotive Summit

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UniWorld Group a finalist in two competitions for multicultural advertising

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