Repairing your credit may save you money. Over the near term, interest rates will rise. This week, the Federal Reserve increased the rate it charges banks for emergency loans. This was the Feds first tangible move to tighten credit following the Great Recession. Additionally, in order to finance the burgeoning national debt the Government will become a more active player in the credit markets. Consumer interest rates on credit cards, car loans, home mortgages, etc. will all be headed up.

Certification/Contracting workshop

JAN. 27—The U.S. Small Business Administration will host an 8(a) and HUBZone Certification & Contracting workshop from 9 a.m.-12 p.m. at the Riverside Center for Innovation, 1st floor Conference Room, 700 River Ave., North Side. MBE/WBE and Veteran-owned businesses are encouraged to attend. The workshop is free and open to the public. Registration is requested. For more information, call Marisa Fentzel at 412-395-6560, ext. 109.

Retired NBA superstar Earvin “Magic” Johnson said he was unable to reach a deal to buy Chicago-based Johnson Publishing Co., publisher of Ebony and Jet magazines.

Despite “advanced talks,” Johnson said in a statement that, “unfortunately, we were unable to reach a definitive agreement. We will continue to look for opportunities to invest in African-American media.”

MAGIC JOHNSON

by Yussuf J. Simmonds

(NNPA)—There is much speculation in the news that retired NBA star and businessman extraordinaire, Earvin “Magic” Johnson is negotiating to purchase Johnson Publishing Company, the parent company of Ebony and Jet magazines. Sources close to the possible purchase said that the company’s Chicago headquarters, a beacon of Black pride, on Chicago’s South Michigan Avenue, would be included if the deal is consummated. Nothing was mentioned about the Ebony Fashion Show and the radio station that are also a part of the Johnson Empire.

MAGIC JOHNSON

The Johnson Company, home of Ebony and Jet magazines, was founded over a half century ago by John H. Johnson. It evolved from the Negro Digest and has been a media source of inspiration that chronicled life in the Black community in a positive light. Since Johnson passed away in 2005, his daughter, Linda Johnson-Rice, has been the chairwoman and chief executive officer. His wife, Eunice Johnson, was the secretary-treasurer and founded the Ebony Fashion Show that showcased fashion for Black people unlike any other news media at that time; she passed in January 2010.