>> JUST AHEAD ON BLACK ISSUES FORUM, A CYBERATTACK CREATES PANDAMONIUM AT GAS PUMPS, BLACK MILLENIALS BEAT BACK GENERATIONAL WEALTH, AND CEO's SUGGEST BUSINESS RECRUITERS DROP THE 4-YEAR-DEGREE REQUIREMENT.

STAY WITH US.

♪ >> WELCOME TO BLACK ISSUES FORUM I'M DEBORAH HOLT-NOEL.

THIS WEEK PEOPLE ACROSS THE NATION GOT GASSED UP FOLLOWING A CYBER SECURITY ATTACK THAT CAUSED THE SHUTDOWN OF THE COLONIAL PIPELINE.

COLONIAL IS THE LARGEST REFINED PRODUCTS PIPELINE IN THE UNITED STATES, AND ITS NORTH CAROLINA'S PRIMARY FUEL PIPELINE CARRYING FUEL OIL, DIESEL, JET FUEL AND GASOLINE.

RIGHT NOW WE'RE JOINED BY DOCTOR BELINDA SHIPPS, ASSOCIATE DIRECTOR FOR THE CENTER OF EXCELLENCE IN CYBER SECURITY RESEARCH EDUCATION AND OUTREACH AT NORTH CAROLINA A&T STATE UNIVERSITY.

DOCTOR SHIPPS WERE SO PLEASED TO HAVE YOU WITH US.

CAN YOU TELL US YOU KNOW BASED ON WHAT WE HAVE JUST EXPERIENCED HOW PREPARED ARE WE AS A STATE FOR DISASTERS LIKE THIS?

>> OH MY GOODNESS, THIS IS SUCH A WAKE-UP CALL FOR US.

IT IS A MESSAGE TO ALL OF US.

SMALL BUSINESS, LARGE CORPORATIONS, JUST EVEN PEOPLE THAT WE ARE NOT PREPARED.

THE FACT THAT WE HAD TO SHUT DOWN, THAT WE'RE PAYING RANSOMWARE.

FOR THIS PAYING, WE'RE PAYING MANY FOR RANSOMWARE.

IT'S TELLING US THAT WE NEED TO DO WHAT WE NEED TO BE BETTER PREPARED, WE NEED BETTER PLANNING.

ALL TYPES OF BUSINESSES, NO MATTER WHETHER YOU'RE SMALL OR LARGE.

>> AND SPEAKING OF SMALL BUSINESSES, BLACK WOMEN MAKE UP THE FASTEST GROWING SEGMENT OF SMALL BUSINESS OWNERS, AND WHAT HAPPENED TO COLONIAL WAS A CASE OF RANSOMWARE.

THEY'RE A LARGE COMPANY AND THERE WAS A POTENTIAL TO GET MILLIONS OF DOLLARS OUT OF THEM.

WE DON'T KNOW THE OUTCOME OR HOW THINGS TRANSPIRED BUT WHAT WHAT I WOULD WANT TO ASK, ARE SMALL BUSINESSES WITH SMALLER FUNDS ALSO AT RISK, AND IF SO, HOW DO THEY PRIORITIZE CYBER SECURITY AND THEIR OPERATIONS?

>> YES.

VERY MUCH SO.

THEY ARE AT RISK.

I WOULD SAY ESPECIALLY WHEN THERE'S SMALLER BUSINESSES, MEDIUM SIZE BUSINESSES, MANY TIMES DON'T PRIORITIZE SECURITY BECAUSE OF COST AND SO THEY DON'T BUY OR INVEST AS MUCH AS THEY SHOULD.

AND WHAT I'D SAY IS THAT YOU HAVE TO BECAUSE YOU'RE GONNA PAY ON THE FRONT END OR YOU'RE GONNA BACK END AS WE'RE SEEING RIGHT HERE.

COLONIAL, FROM MY READINGS, HAVE PAID ALMOST 5 MILLION DOLLARS RANSOM WARE TO GET THEIR SYSTEMS BACK UP AND RUNNING.

SO TO ME IT BECOMES VERY IMPORTANT THAT SMALL BUSINESSES AND MEDIUM BUSINESS RECOGNIZE THAT NEED.

KNOWLEDGE IS HUGE.

THERE NEEDS TO BE TRAINING FOR YOUR EMPLOYEES AND YOUR NEEDS TO BE KNOWLEDGE CONTINUOUS KNOWLEDGE.

SO I THINK THAT FIRST OF ALL THEY NEED A BUSINESS PLAN.

THEY NEED RISK ANALYSIS TO SEE WHERE THE MAJOR PROBLEMS ARE, PRIORITIZE THOSE MAJOR AREAS, AND THEY NEED SOME TYPE OF PLAN.

THEY NEED BUSINESS CONTINUITY PLAN AS WELL AS A DISASTER RECOVERY PLAN.

BUSINESS CONTINUITY IS MAYBE MORE OF THE PROACTIVE PART OF THE PLAN WHEREAS THE DISASTER RECOVERY IS MORE OF THE REACTIVE SIDE OF IT, BUT THEY NEED TO BE WELL PLANNED.

THEY NEED TO TRAIN THEIR EMPLOYEES SO THAT BECAUSE HUMAN ERROR IS ONE OF THE NUMBER ONE PROBLEMS AND SO EMPLOYEES NEED TO KNOW WHAT TO DO ALSO, AND THEY NEED TO CONTINUOUSLY TRAIN THEM.

THERE'S ALL KINDS OF THINGS OUT THERE.

THE FCC HAS A CYBER SECURITY LINK.

IF THEY'RE LOW ON FUNDS AND THEY DON'T HAVE MONEY THAT THEY CAN GO TO THAT SIDE.

SBA HAS SOME SITES OUT THERE.

BUT ON THE FCC FEDERAL COMMUNICATIONS COMMISSION WEBSITE FOR CYBERSECURITY THEY HAVE THINGS LIKE WEBINARS, THEY HAVE A TOOL KIT WHERE YOU CAN GO OUT AND DO CYBER ANALYSIS AND SET UP A CYBER PLAN FOR YOUR COMPANY IF YOU DON'T HAVE A LOT OF MONEY.

I WOULD ENCOURAGE PEOPLE TO USE THOSE RESOURCES.

>> SO THERE ARE SOME RESOURCES OUT THERE AND IN THE SAME WAY THAT A WEAKNESS WAS EXPOSED IN THIS INCIDENT ALSO OPPORTUNITY.

CAN YOU SHARE A LITTLE BIT ABOUT WHAT'S HAPPENING AT THE CENTER FOR EXCELLENCE TO PREPARE TOMORROW'S EXPERTS IN CYBERSECURITY?

>> I'M VERY EXCITED ABOUT WHAT WE'RE DOING OVER A & T AS FAR AS OUR NEW CENTER, IT'S BEEN THERE FOR ABOUT A YEAR NOW.

AND IT'S CALLED THE CENTER OF EXCELLENCE IN CYBER SECURITY RESEARCH EDUCATION AND OUTREACH CREO AS WE CALL IT AND IT'S AN INTER DISCIPLINARY APPROACH THAT WE TAKE THERE.

WE HAVE A MAJOR THRUST AREA, MACHINE LEARNING, ARTIFICIAL INTELLIGENCE BUT WE'RE ALSO PUTTING EMPHASIS ON THAT IT'S NOT JUST TECHNOLOGY IT'S NOT SO MUCH IT'S OTHER THINGS TOO THAT ARE PART OF CYBERSECURITY, SO WE'RE LOOKING AT OTHER AREAS LIKE YOU THINK ABOUT POLICY, CYBERSECURITY POLICY, YOU THINK ABOUT THE LEGAL PART OF THE THINK ABOUT ACCOUNTING, FORENSICS, THAT TYPE OF THING AND SO WE'RE GOING AROUND AND ENCOURAGING MEMBERS FROM ALL OVER CAMPUS TO SAY THAT CYBERSECURITY IMPACTS ALL AREAS AND NOT JUST ONE INDUSTRY, IT'S NOT JUST ABOUT TECHNOLOGY.

THERE'S ALL DIFFERENT TYPES OF JOBS, SO WE'RE ENCOURAGING PEOPLE TO COME IN.

WE ARE ALSO TRYING TO GET MORE STUDENTS INVOLVED AS WELL AS FACULTY DOING RESEARCH, WE'RE TRYING TO DO EDUCATION, TO EDUCATE WE BRING IN HIGH SCHOOL STUDENTS DURING THE SUMMER.

WE JUST BECAME AN ON RAMP UNIVERSITY WHERE WE ARE CONNECTED WITH THE NATIONAL SECURITY AGENCY.

>> SO SOUNDS LIKE LOTS OF GREAT OPPORTUNITIES ACROSS INDUSTRIES.

IN CYBERSECURITY, SO DON'T BE INTIMIDATED BY THAT NAME, THEY'RE JUST SO MANY DIFFERENT OPPORTUNITIES.

>> YEAH, >> DOCTOR BELINDA SHIPPS, THANK YOU SO MUCH FOR YOUR TIME.

YOU'RE WELCOME.

THANK YOU.

>> IF YOU HAVE LEFT YOUR HOME IN A CAR THIS WEEK YOU HAVE CERTAINLY SEEN THE INCREDIBLY LONG LINES AT THE GAS PUMP.

AFTER DECLARING A STATE OF EMERGENCY, GOVERNOR COOPER IS NOW CALLING FOR CALM AND ENCOURAGING PEOPLE NOT TO RUSH TO FILL UP.

OFFICIALS SAY THERE IS NO FUEL SHORTAGE.

I'D LIKE TO WELCOME JAMES PATTERSON, FORMER COMMISSIONER ON THE NORTH CAROLINA UTILITIES COMMISSION AND AN EXPERT IN CRISIS MANAGEMENT.

JIM, THANK YOU SO MUCH FOR JOINING US.

HOW SERIOUS IS THIS ISSUE SAY IN YOUR AREA, GREENSBORO?

WHAT HAVE YOU SEEN?

>> LONG LINES.

LONG LINES AND MANY MANY OF THE SERVICE STATIONS AROUND HERE HAVE THE BAGS OVER THE PUMPS INDICATING THAT THEY'VE GOT NO GAS.

NO GASOLINE I SHOULD SAY.

I SHOULD MAKE IT CLEAR THAT THERE IS A REAL DIFFERENCE BETWEEN GAS AND GASOLINE -- >> WHICH IS?

WHICH IS GASOLINE IS LIQUID AND GAS IS GAS.

IT'S NOT -- YOU CAN'T SEE GAS.

WELL ORDINARILY YOU CAN'T.

YOU COULD SMELL IT BECAUSE IT IS A CHEMICAL PUT IT SO YOU KNOW WHEN IT'S LEAKING BUT ORDERLY AND NATURAL GAS IS ODORLESS.

SO YOU WOULD NOT KNOW.

>> WE'RE NOT SEEING A LOT OF EITHER ONE OF THEM THESE DAYS.

AND YOU KNOW WHEN WE CONSIDER THE ROOT OF THE PROBLEM, WHAT WOULD YOU SAY IS HAPPENING?

WHAT IS AT THE ROOT OF WHAT WE'RE EXPERIENCING RIGHT NOW WITH THE SHORTAGE?

>> SEVERAL THINGS.

ONE IS THAT THERE'S STILL A LOT OF OLD SOFTWARE BEING USED BY A LOT OF DIFFERENT COMPANIES.

I COULDN'T TELL YOU THE EXACT NUMBER.

BUT THAT'S BEING PHASED OUT, AND APPARENTLY THIS SOFTWARE THAT GOT HACKED INTO WITH COLONIAL, WAS SOME OF THE OLD WINDOWS BASED SOFTWARE THAT MOST OF THE COMPANIES USED.

NOW ALL ALL OF THEM ARE WORKING HARD TO TO UPDATE AND GUARD AGAINST THE CYBER ATTACKS WHICH YOU KNOW UNTIL VERY RECENTLY NOBODY THOUGHT ABOUT TOO MUCH.

WHEN I SAY RECENTLY, YOU KNOW SAY THE PAST 10 YEARS.

AND ALL OF THESE OF VARIOUS ENERGY RELATED COMPANIES AND EVERY COMPANY IN THE WORLD HAS REALLY TRIED TO MAKE THEIR SYSTEMS MUCH MORE ROBUST IN ORDER TO DEFEAT THESE EFFORTS BY CRIMINALS OR TERRORIST TYPE STATES TO HACK INTO THEIR SYSTEMS EITHER TO CAUSE DAMAGE TO THE SYSTEM OR TO EXTORT FUNDS OR WHAT WHATEVER THEIR NEFARIOUS MOTIVES MIGHT BE.

BUT YEAH, I CAN TELL YOU THAT THE UTILITIES HERE IN NORTH CAROLINA WORKING VERY HARD TO PREVENT SORT OF THING.

BUT THE OTHER THE OTHER THING IS THAT IN THIS CASE THERE'S NO REDUNDANCY IN THE SYSTEM.

IT'S A PIPELINE COMING UP FROM THE REFINERIES DOWN IN THE TEXAS AREA UP THE EAST COAST.

SO IF YOU KNOCK THAT ONE OUT YOU STOP IT FOR SOME REASON, YOU CAUSE THE PROBLEM THAT WE HAVE.

>> LUCKILY, IT WAS GASOLINE AND NOT GAS.

GASOLINE EFFECTS US BASICALLY INDIVIDUALLY.

AN ATTACK ON THE GAS PIPELINES WOULD HAVE AFFECTED US PERIOD.

>> AS FAR AS THE PROBLEM OF THEY'RE JUST BEING A SINGLE PIPELINE.

HAD THERE NOT BEEN EFFORTS TO MAKE SURE THAT WE DO HAVE SOME SORT OF A BACKUP OR A SECOND SYSTEM AVAILABLE SO THAT SHOULD SOMETHING HAPPEN TO THAT MAJOR PIPELINE, WE'RE NOT TOSSED INTO A CRISIS?

>> THERE HAVE BEEN A NUMBER OF EFFORTS TO BUILD ADDITIONAL PIPELINES.

IT TAKES A LONG LONG TIME TO GET THROUGH ALL OF THE READING STORY BUREAUCRACY TO GET SOMETHING LIKE THAT DONE.

AND SOMETIMES IT TAKES A SITUATION LIKE THIS TO TO MOVE THINGS FORWARD.

ON THE NATURAL GAS SIDE THERE WAS A PIPELINE PROPOSED ON THE EAST COAST PIPELINE, ATLANTIC COAST PIPELINE.

AND IT WAS ABANDONED BECAUSE OF ENVIRONMENTAL CHALLENGES TO IT.

THERE WAS ANOTHER ONE COMING OUT OF THE MARCELLUS SHALE.

IT WAS ABANDONED RECENTLY AS WELL.

I THINK AT SOME POINT, ALL OF THE POWERS THAT BE THAT REGULATE AND PLAN OUR ENERGY RESOURCES OR ARE UTILIZED IN THIS COUNTRY ARE GOING TO Y HAVE TO COME TOGETHER AND THINK THINGS THROUGH AND SEE WHAT ACTUALLY WORKS AND NOT WHAT'S JUST FASHIONABLE AT ONE TIME >> SO ONCE AGAIN ATTENTION TO ENVIRONMENTAL CONCERNS ENVIRONMENTAL JUSTICE AND ALSO RENEWABLE ENERGY WE JUST NEED TO BE FOCUSED ON THAT AND LISTENING VERY CAREFULLY AND SERIOUSLY.

JIM PATTERSON THANK YOU SO MUCH FOR YOUR TIME.

>> YOU'RE MUCH WELCOME.

THANK YOU.

>> AMERICA'S FIRST BLACK OWNED MUTUAL INVESTMENT FIRM, ARIEL INVESTMENTS AND CHARLES SCHWAB HAVE A NEW SURVEY OUT THAT SHOWS 30% OF BLACK INVESTORS UNDER 40 GOT INTO THE MARKET FOR THE FIRST TIME IN 2020.

WHILE IT'S OFTEN NOTED THAT BLACK AMERICANS ARE LESS LIKELY THAN WHITE AMERICANS TO HAVE MONEY IN THE MARKET, ARIEL CEO JOHN ROGERS SAYS FOR THOSE UNDER 40 THERE IS NO LONGER A GAP.

RIGHT NOW I'D LIKE TO WELCOME TO OUR ROUNDTABLE PATRICK HANNAH CHAIR OF THE CORPORATE ROUNDTABLE FOR THE NATIONAL BLACK CAUCUS OF STATE LEGISLATORS, GREG HEDGEPETH, PRESIDENT OF SUBSTANTIAL MEDIA AND DOCTOR SHANTE WILLIAMS CEO BLACK PEARL GLOBAL INVESTMENTS AND AUTHOR OF BLACK ANGELS, THE WEALTH EDITION.

WELCOME TO ALL OF YOU.

DOCTOR WILLIAMS, I WANT TO START WITH YOU.

HOW DID THIS HAPPEN, ESPECIALLY DURING THE COVID CRISIS?

IT'S A PRETTY BIG STATEMENT TO MAKE.

>> YES YES.

I WILL SAY THIS.

I THINK WHAT COVID-19 SHOWED A LOT OF BLACK PEOPLE IN GENERAL WAS, 'NOBODY IS COMING TO SAVE YOU.'

IF YOU AREN'T ALREADY DOING THE THINGS TO GET YOURSELF ON TRACK THERE MAY BE LOAN PROGRAMS THAT JUST DON'T END UP COMING DOWN TO YOUR COMMUNITY.

YOU MAY NOT BE IN LINE FOR SOME OF THESE OTHER PROGRAMS THAT THE GOVERNMENT'S BUBBLING UP, SO NO ONE IS COMING TO SAVE YOU.

SO WE STARTED DOING OUR OWN RESEARCH DOING OUR OWN WORK AND REALLY STARTING TO SEE WE'RE NOT GOING TO TAKE THE SLOW APPROACH OR THE 'ONE AT A TIME APPROACH' AND WAIT UNTIL WE HAVE A LOT OF MONEY TO INVEST WE'RE GOING TO START PARTICIPATING ON ALL LEVERS TO MAKE SURE THAT WE'RE PULLING OURSELVES FORWARD.

>> GREG, YOU KNOW THIS REALLY INDICATES A MINDSET SHIFT.

WHAT DOES THIS TELL US ABOUT THE MINDSET OF BLACK MILLENNIALS AND THEIR POWER?

>> THAT'S A GREAT QUESTION AND THANK YOU FOR HAVING ME.

I WOULD SAY THAT I THINK WE'RE BEGINNING TO HAVE AN UNDERSTANDING THAT IT'S GOING TO TAKE SOME TYPE OF SIGNIFICANT CHANGE IN ORDER FOR US TO AT LEAST CATCH UP IN THIS RELAY RACE.

WHEN WE START TO THINK ABOUT GENERATIONAL WEALTH AND HAVING CONVERSATIONS ABOUT FINANCIAL LITERACY IT IS SO IMPORTANT THAT WE UNDERSTAND WHERE WEALTH IS BUILT, AND TO SOME DEGREE WEALTH IS BUILT IN IN A COUPLE OF WAYS RIGHT THROUGH THE REAL ESTATE GAME OR BUT THROUGH THE STOCK MARKET GAME RIGHT.

AND THAT'S WHERE I THINK WE'RE BEGINNING TO SEE EXPECIALLY THE NEXT GENERATIONS OF US THAT HAVE THAT DISCRETIONARY INCOME THAT THEY CAN KIND OF PUT SOME DOLLARS TO THE SIDE OR HAVE SOME ADDITIONAL DOLLARS THAT THEY CAN PLAY AROUND WITH.

IT SPEAKS TO THE INCREASE IN WAGES.

THE INCREASE IN OPPORTUNITIES AND ACCESS TO CERTAIN JOBS.

OPPORTUNITIES WHERE 401 K PLANS AND ALL OF THOSE THINGS RETIREMENT PLANS ARE THERE.

SO I THINK THE SHIFT IN THE MINDSET AS MY COLLEAGUES ALREADY SAID IS THAT IT'S AN IMPORTANT OPPORTUNITY FOR US TO TAKE ADVANTAGE OF BEGINNING TO AT LEAST MAKE A COUPLE OF LAPS IN THIS RACE.

>> WELL, THAT'S GOOD NEWS AND AND PATRICK THIS SURVEY'S MESSAGE, WHAT DOES THAT MESSAGE KIND OF SAY ABOUT RACIAL ECONOMIC DISPARITIES AND THE CONVERSATION AND ACTIONS THAT WE'VE HAD AROUND INCREASING EQUITY?

>> ONE OF THE THINGS THAT'S FASCINATING ME AS RELATES TO THE CHANGING DEMOGRAPHICS, WE'RE REALLY AT A TRANSITIONAL PERIOD IN OUR COUNTRY, AND SO A LOT OF DATA IS SHOWING THAT COST OF TECHNOLOGY, THE ACCESS TO INVESTING IS SO MUCH EASIER.

REALLY WE'RE TALKING ABOUT TECHNOLOGY AND SPEED TO MARKET, SO YOU'VE GOT A GENERATION THAT'S COMING AT A TIME WHERE YOU CAN INVEST FOR A LIMITED AMOUNT OF RESOURCES, IN THE STOCK MARKET.

WHEN BARAK OBAMA BECAME PRESIDENT, THE DOW JONES WAS ONLY AT 8000.

TODAY, POST COVID, THE DOW JONES IS APPROACHING 35,000.

SO THAT LETS YOU KNOW HOW MUCH GROWTH THERE IS IN THE MARKET, BUT IT IS ABOUT EDUCATION AND CLOSING THE WEALTH GAP AND SO I'M GLAD TO SEE SO MANY YOUNGER START TO THE BEST, BUT IT'S THE TECHNOLOGY THAT'S THE PLATFORMS THAT ARE ENABLING THIS GROWTH IN THIS NEW PHASE OF INVESTING FOR BLACK AMERICA.

>> NOW DOCTOR WILLIAMS YOU SAID THAT NO ONE IS COMING TO SAVE YOU.

IT'S A MINDSET THAT PEOPLE NEED TO EMBRACE.

AT THE SAME TIME, WE UNDERSTAND THAT THIS IS ABOUT BUILDING BLACK WEALTH THROUGH PRIVATE AND INDIVIDUAL PRACTICE.

WHAT DOES THIS MEAN, HOWEVER FOR BLACK EXPECTATIONS WITH REGARD TO THE GOVERNMENT AND PARTICULARLY WITH ARGUMENTS FOR REPARATIONS?

>> WELL, I THINK NO, THE GOVERNMENT'S NOT GOING TO COME SAVE US ON THEIR OWN, BUT IT'S ABOUT ACCOUNTABILITY.

I THINK ONE OF THE THINGS THAT I'M STARTING TO SEE WITH BLACK WOMEN BLACK MAN, THE VOTING POPULATION YOUNG PEOPLE IS STARTING TO PAY ATTENTION WHAT PROMISES DID YOU MAKE WHEN YOU CAME TO MY CHURCH, WHAT PROMISES DID YOU MAKE ON THAT ON THE CAMPAIGN STOP.

AND NOW I'M GOING TO HOLD YOU ACCOUNTABLE, SO EVERY TIME I SEE A PIECE OF LEGISLATION PASSED, I'M LOOKING TO SEE WHERE I FIT IN AND HOW DO I ACCESS THOSE THINGS.

REPARATIONS COMES IN ALL FORMS AND I DON'T KNOW THAT WE'LL EVER SEE A CHECK CUT DIRECTLY TO BLACK AMERICANS BUT ONE OF THE THINGS THAT WE CAN START DOING AND DEMANDING IS CARVE OUTS AND CUT OUTS IN ALL OF THESE VERY LARGE FUNDING BILLS THAT SPECIFICALLY ARE EARMARKED FOR OUR COMMUNITY IN ORDER FOR US TO MOVE AHEAD, HE SAID RUN A FEW LAPS, WE WANT TO TURN THIS NOT INTO A MARATHON, WE NEED TO SPRINT, YOU KNOW IT'S 238 YEARS TIL WE CLOSE THAT GAP SO WE'VE GOT TO START RUNNING FASTER.

>> GREG YOUR COMMENT ON THAT.

>> YEAH, NO I DITTO, AND I WOULD ALSO SAY THAT WHEN WE THINK ABOUT THAT 300 AND PLUS YEARS OF THAT, BUT TIME BEING PASSED DOWN BY OUR WHITE COUNTERPARTS, IT IS IMPORTANT THAT WE UNDERSTAND THAT TO SOME DEGREE THE GOVERNMENT HAS A ROLE TO PLAY IN THIS.

WHEN WE THINK ABOUT - WHAT WAS IT?

I HATE TO BE A HISTORY BUFF, BUT THE 1868, 69 SOMEWHERE WHERE LINCOLN WAS ABOUT TO SIGN WHAT IS IT?

SPECIAL BILL NUMBER 15.

WHERE WE WERE GOING TO GET OUR 40 ACRES OF TILLABLE LAND THAT GOT SHUT DOWN RIGHT?

AND SO TO SOME DEGREE AS WE BEGIN TO THINK ABOUT HOW WE CAN LEAST MAKE A COUPLE OF THOSE EXTRA LAPS AND BEGIN TO NOT CATCH UP RIGHT?

BECAUSE AGAIN 300 YEARS IS A LONG TIME FOR US TO BE TRYING TO CATCH-UP TO OUR COUNTERPARTS WE HAVE TO UNDERSTAND THAT IT'S ABOUT ACCESS.

IT'S ABOUT ACCESSIBILITY, IT'S ABOUT KNOWLEDGE, AND IT'S ABOUT RESOURCES.

>> ABSOLUTELY AND SPEAKING OF EDUCATION IN HISTORY AND IT WAS GEORGE WASHINGTON CARVER, WHO SAID EDUCATION IS THE KEY TO UNLOCK THE GOLDEN DOOR TO FREEDOM.

AT THE WALL STREET JOURNAL'S RECENT CEO COUNCIL SUMMIT, THE CEO OF MERCK.

KENNETH FRAZIER SAID, "DEGREE REQUIREMENTS ARE A KIND OF BARRIER TO ECONOMIC OPPORTUNITY."

AS MANY OF TODAY'S WELL PAYING JOBS, DO NOT REQUIRE A FOUR-YEAR DEGREE, PATRICK, WHAT ARE YOUR THOUGHTS ON THIS STATEMENT?

>> YEAH, I THINK IT'S A VERY PROFOUND STATEMENT.

I'LL SPEAK FOR MYSELF DEBORAH, WHERE YOU'RE TOLD, "GET A JOB AFTER YOU GET A GOOD EDUCATION."

SO WE WENT TO SCHOOL, GOT A GOOD EDUCATION AND STARTED LOOKING FOR JOBS.

I THINK TODAY'S WORKFORCE IS ALL ABOUT SKILLS AND CAPABILITIES.

AND IT'S ALSO CHANGING THE CULTURE.

A LOT OF COMPANIES LOOKING AT THEIR CORE VALUES AND IF THERE'S TALENT OUT THERE THAT HAVE THE SKILLS AND CAPABILITIES TO DO THE WORK, THEN THEY'RE REMOVING THOSE BARRIERS AND HURDLES.

WE'RE IN A NEW PHASE IN THE WORKFORCE, THE LABOR MARKET IS TIGHTENING, WAGES HAVE BEEN SUPPRESSED FOR A LONG TIME, BUT I THINK YOU'RE GOING TO START TO SEE MORE COMPANIES LOOK FOR TALENT VERSUS OVER EDUCATIONAL CREDENTIALS AND THAT REALLY IT FITS IN WITH THE CORE VALUES OF THE COMPANY TO THINK THAT COMPANIES ARE WORKING HARD TO SAY HOW DO WE AVOID BEING PART OF THIS CANCEL CULTURE AND SO THE BALANCING TEST IS MAKING SURE THAT YOU HAVE THE RIGHT WORKFORCE WHICH IS THE BLOODLINE OF ANY COMPANY WHETHER SMALL OR LARGE BUSINESS, YOU GOTTA HAVE A WORKFORCE THAT HAS THE SKILLS AND CAPABILITIES TO PRODUCE RESULTS.

BUT YOU ALSO WANT TO MAKE SURE THAT THE COMPANY'S VALUES ARE IN LINE WITH WHAT'S GOING ON IN THE WORLD.

A LOT OF YOUNGER EMPLOYEES AND PROFESSIONALS ARE REALLY LOOKING AT THE CORE VALUES OF COMPANIES SO THEREFORE COMPANIES ARE TRYING TO FIND WAYS TO BE MORE INCLUSIVE, AND NOT LET THOSE TRADITIONAL ACADEMIC CREDENTIALS BE THE BARRIER THAT KEEPS PEOPLE FROM COMING TO THE COMPANY.

>> GREG, I WANT TO ASK YOU WHAT DO YOU THINK THIS MEANS FOR THOSE IN HIGHER EDUCATION, IN COMMUNITY COLLEGES, AND FOR THOSE WHO MIGHT BE ADOPTING CERTIFICATE PROGRAMS IN THE FUTURE TO TO REMAIN COMPETITIVE FOR RECRUITING STUDENTS?

>> WELL AS A PROFESSOR IN HIGHER EDUCATION SPACE, I'M HOPEFUL THAT WE STILL SEE A NEED TO GET THAT POST-SECONDARY CREDENTIAL.

I'LL SHARE THAT I AM ALSO HOPEFUL THAT IT'S NOT JUST LIP SERVICE.

BECAUSE WE THINK ABOUT THE JOBS OF TOMORROW, THERE IS A LEVEL OF TECHNICAL TRAINING AND SKILLS SET.

THAT IS GOING TO BE REQUIRED IN ORDER FOR US TO MEET THAT CHANGING DEMAND AND THE WORKFORCE.

I THINK IT SHOWCASES THAT HIGHER EDUCATION INSTITUTIONS ARE GOING TO HAVE TO EVOLVE AS IT RELATES TO THE PRODUCTS THAT WE OFFER, BECAUSE AT THE END OF THE DAY, EDUCATION IS A BUSINESS.

JUST LIKE ANY PRODUCT LIFECYCLE THERE'S EVOLUTION.

THERE'S EBBS AND FLOWS AND SO I THINK WE'RE GOING TO HAVE TO REALLY START TO THINK ABOUT HOW WE TOOL UP THOSE NECESSARY FOLKS TO ENSURE THAT THEY'RE ADEQUATELY SKILLED TO SERVE THAT LABOR MARKET AND IT MAY NOT COME IN THAT FOUR-YEAR DEGREE.

AS AN ENTREPRENEUR MYSELF, I THINK ABOUT THE TIME INVESTMENT OF FOUR YEARS AND WHAT THAT MEDIAN INCOME LOOKS LIKE WHEN I GET OUT, AND WHAT THAT COST WAS FOR ME TO ACQUIRE IT.

AND SO WE'RE GOING TO DEFINITELY HAVE TO SHIFT OUR MINDSET AS IT RELATES TO HOW WE OFFER EDUCATION AND THE COST OF THAT EDUCATION.

>> DOCTOR WILLIAMS DO YOU THINK THAT THERE IS A HEALTHY APPETITE AMONG COMPANIES TO SWITCH HOW THEY DO THEIR INVESTING AND THEIR RECRUITING SO THAT THEY'RE INVESTING IN NON-TRADITIONAL FORMS OF TALENT?

>> I THINK THE JURY'S OUT ON THAT JUST AS OF YET.

I THINK THEY'RE STARTING TO SEE THERE IS VALUE IN PLACES THEY HADN'T BEEN LOOKING.

I THINK THE CHALLENGE FOR THEM WILL BE NOT ONLY PULLING PEOPLE IN THE DOOR, BUT YOU'VE GOT TO RETAIN THEM AND A LOT OF COMPANIES GO FORTH WITH THESE VERY LONG LARGE DIVERSITY HR DIRECTIVES AND INITIATIVES AND THEN FORGET THE CULTURE INSIDE THE COMPANY HAS TO ALSO CULTIVATE AND NURTURE THAT TALENT YOU BRING IN AND ALLOW THEM TO CONTINUE TO GROW AND THRIVE, AND I CHALLENGE ALL COMPANIES REALLY TO BRING IN PEOPLE, AND DEGREES ARE IMPORTANT, BUT LOOKING AT THE EXPERIENCE BUT MAKE SURE THAT IF YOU DROP THAT DEGREE HURDLE, THERE'S STILL A PATH FROM COMING IN AT THE ENTRY LEVEL TO GO ALL THE WAY TO THE CEO DON'T CREATE A CEILING FOR THOSE WITHOUT EDUCATION.

>> PATRICK DO YOU SEE THAT HAPPENING?

DO YOU SEE THAT CULTURE BEING BUILT, AND IF NOT YOU KNOW WHAT NEEDS TO HAPPEN AT COMPANIES TO BUILD A FRIENDLY CULTURE TO TO A MORE DIVERSE TALENT POOL?

>> IT STARTS AT THE TOP.

AT THE END OF THE DAY.

AT ANY ORGANIZATION, LEADERSHIP MATTERS.

AS CHAIRMAN OF THE CORPORATE ROUND TABLE, I'M PROUD TO REPRESENT OVER 105 COMPANIES.

MERCK IS ALSO A MEMBER OF THE CORPORATE ROUND TABLE, AND OUR ROLE IS TO MAKE SURE THAT WE'RE WORKING TO COLLABORATE WITH PUBLIC POLICY MAKERS ACROSS THE COUNTRY I CAN TELL YOU FIRSTHAND THAT COMPANIES ARE TRYING TO FIGURE OUT WAYS TO BE MORE INCLUSIVE AND ALSO FIGURING OUT WAYS TO TO RETAIN THE WORKFORCE, BUT THE CHALLENGE IS IT REALLY REQUIRES A SYSTEMIC LONG-TERM INVESTMENT, THIS IS NOT SOMETHING THAT'S GOING TO HAPPEN OVERNIGHT WE'VE BEEN TALKING ABOUT DIVERSITY AND INCLUSION FOR OVER 50 YEARS BUT THE CONVERSATION HAS TO BE MORE ABOUT TRANSPARENCY, ALSO OPPORTUNITY BECAUSE A LOT OF THE TIMES WE HAVE TALENT THAT COMES IN WHETHER THEY HAVE DEGREES OR NOT I THINK THAT IS A DIFFERENT CONVERSATION REALLY THE BIGGER CONVERSATIONS IS MAKING SURE THAT THE WORKFORCE IS BEING VALUED.

HOW DO YOU SHOW YOUR WORKFORCE, YOUR EMPLOYEES THAT YOU VALUE THEIR CONTRIBUTIONS TO THE COMPANY?

THERE'S A LOT OF WAYS YOU CAN DO IT.

IT COULD BE THE RECOGNITION, THROUGH COMPENSATION AND ALSO FOR CAREER ADVANCEMENT.

SO I THINK IT'S A COMPREHENSIVE OPPORTUNITY THAT THE PRIVATE SECTOR HAS TO MAKE SO ANY LOCAL COMPANIES LOOKING FOR STRATEGIES I'M HAPPY TO SPEAK WITH THEM AND TALK ABOUT HOW WE'RE WORKING ON THE CORPORATE ROUNDTABLE TO MAKE SURE THAT WE ARE PROVIDING THAT ENVIRONMENT FOR OUR WORKFORCE AS WELL AS FOR OUR EXECUTIVE LEADERSHIP.

>> THAT'S VERY GOOD INFORMATION AND GREG, YOU KNOW I WILL GIVE YOU THE LAST WORD, WE HAVE ABOUT A MINUTE HERE WHEN IT COMES TO YOU KNOW CREATING THAT ENVIRONMENT, WHAT ARE YOU SEEING WHAT DO YOU THINK THAT WHAT WOULD YOUR ADVICE TO COMPANIES BE?

>> WELL FIRST AND FOREMOST WE'VE GOT TO GET OUT THE DEFICIT MINDSET, RIGHT OR THE FACT THAT WHAT WE'RE INVESTING IN AS RELATES TO OUR BLACK COMMUNITIES HAS TO BE IN THE IN THE FRAME OF EDUCATING FROM A DEFICIT MINDSET LIKE I SAID.

IT'S THIS NOTION THAT WE CAN'T BRING MAJOR CORPORATIONS INTO THE HOOD FOR LACK OF BETTER WORDS RIGHT THAT WE DON'T HAVE THE OPPORTUNITY TO SKILL UP AND TOOL UP IN THESE SPACES.

OR IT HAS TO COME IN THE FORM OF GENTRIFICATION.

I THINK WHEN WE STOP BUILDING COMMUNITY CENTERS AND START BUILDING FORTUNE 500 COMPANIES IN SPACES WHERE WE HAVE THE OPPORTUNITY TO EMPOWER OUR FOLKS TO APPLY AND BE A PART OF THAT, THEN THAT'S WHEN WE CAN TRULY BEGIN TO SEE A SUBSTANTIAL CHANGE AND IMPACT IN OUR COMMUNITIES FOR SURE.

>> GREG THANK YOU SO MUCH ALL OF YOU, WE REALLY APPRECIATE YOUR TIME.

ONCE AGAIN I WANT TO THANK ALL OF TODAY'S GUESTS.

WE INVITE YOU TO ENGAGE WITH US TWITTER OR INSTAGRAM USING THE HASHTAG "BLACK ISSUES FORUM".

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FOR BLACK ISSUES FORUM, I'M DEBORAH HOLT NOEL.

THANKS FOR WATCHING!

♪ >> QUALITY PUBLIC TELEVISION IS MADE POSSIBLE THROUGH THE FINANCIAL CONTRIBUTIONS OF VIEWERS LIKE YOU WHO INVITE YOU TO JOIN THEM IN SUPPORTING PBS NC.