Sybil Wilkes is back with another edition of “What We Need to Know,” the daily roundup that keeps our community informed and ready to move. From the Senate’s Iran decision to a World Cup truce and a multi-billion-dollar Medicare fraud.
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A Hair Care Pioneer Passes at 99
George E. Johnson, the entrepreneur who transformed Black hair care and built an empire, has passed away at the age of 99. Johnson founded the multi-million dollar Johnson Products Company, and his vision changed the beauty industry forever. In 1971, his company made history as the first Black-owned business traded on the American Stock Exchange—a monumental achievement that opened doors for generations of entrepreneurs.
Johnson’s story is the stuff of legend. He famously secured his original startup loan through sheer determination and clever strategy, then went on to exclusively sponsor “Soul Train,” the iconic show that celebrated Black music, dance, and culture. His legacy stands as an enduring beacon of Black excellence and economic power.
RELATED STORY; Rest In Power: Notable Black Folks Who We’ve Lost In 2026
Protect Your Business From Costly Tax Mistakes
Financial expert Katrina Kraft is sounding the alarm for Black business owners. She warns that operating under an outdated corporate structure could quietly drain thousands of dollars from your bottom line each year. While a basic sole proprietorship works fine for early-stage startups, growing service firms often get hit with massive self-employment tax burdens when they fail to transition strategically.
Kraft’s advice? Consider making an S corporation election. But timing matters. She stresses the need for proactive, year-round analysis of your payroll and profitability—not a last-minute scramble before IRS deadlines pass. As our community continues building generational wealth, smart tax planning keeps more money in your hands and your business thriving.
Relief Coming, But Danger Shifts West
The historic and deadly early July heat wave that blanketed the central and eastern United States is finally letting up. Residents in the Northeast can expect cooler, more seasonable temperatures in the coming days. That’s welcome news after weeks of dangerous conditions.
However, the threat isn’t over. That same brutal weather pattern is now shifting westward, placing millions of residents across the Southwest under extreme triple-digit heat warnings. If you have family or friends in the region, check on them, stay hydrated, and take these warnings seriously.
RELATED STORY: What To Do When the Heat Index Is High
The “Rosa Parks of Iowa”
On this day in 1948, Black history was made. Edna Griffin, a Black female World War II veteran, launched a powerful civil rights protest against a segregated Iowa drug store. After being denied service at the Des Moines lunch counter at Katz’s Drugs, Griffin refused to back down.
She organized weekly boycotts and filed landmark criminal charges under Iowa’s Civil Rights Act. Her legal victory, ultimately upheld by the Iowa Supreme Court, earned her national recognition as the trailblazing “Rosa Parks of Iowa.” Her courage reminds us that ordinary people can spark extraordinary change.ng out for our neighbors.
