It Is Finally Here!!
The Paradigm Shift
African America Has Been Waiting For..For Over 100 Years!!
The Real Economic Salvation
for african america
New Age Capitalism
New Age Corporations & New Age Thinking
That Are Based On Otis Harrison’s Innovative Economic Development Concept
George M. Sistrunk
©2015-2016 by George M. Sistrunk.. All Rights Reserved.
A similar discussion and outline was presented
to the highly esteemed
Mr. John H. Yow – Administrator for the
City of Orangeburg on
September 9, 2015 at 2:00 p.m. EDST.
capitalism, corporations & thinking
Subject Matter For This Discussion & Presentation
How New Age Capitalism, its mandated New Age Corporations
and its by-product New Age Thinking that is multi-dimensional in nature
will benefit the Black Community. (Note: The same is true for the State of South Carolina, America in particular and the world in general.)
Table of Contents
Content Page Number/s
New Age Capitalism & New Age Corporations.................................................................1
Benefits of New Age Capitalism for the Black Community............................................2-3
Benefits of New Age Corporations for Orangeburg &
Responsibility of the Black Community................................................................................6
For Your Information
As African Americans, it is in our best interest to start saving our money now; at
least $500.00-$800.00, so all of us can collectively fund, build and own as many community based New Age Corporations
as possible, as fast as possible and acquire as many income producing assets as soon as possible. If not for ourselves, then
for our children and their future.
Black America’s lack of knowledge relative to capitalizing corporations are astronomically
high. The $500.00-$800.00 savings that is stated above is the minimum amount needed for a person to participate in the process
as a § 1244 Stock Holder or a participant in an Asset Acquisition program so that he/she can be transitioned into a shareholder/owner
of a New Age Corporation. Program participation is a unique requirement that only exists in Black America. Dollar amounts
to participate in other communities might be higher or lower depending on the demographics.
Regulation D’s Rules 504, 505 and 506, effectively bar over 99% of America’s
Black population from participating at the Founders level in a corporate enterprise. Due to the unique character and state
of Black America’s economic situation, a unique educational process and system must be utilized first before an individual
can be accepted as a shareholder/owner. This is not a requirement for accredited investors under current security laws.
In the United States, for individuals to be considered an accredited investors,
they must have a net worth of at least one million US dollars, not including the value of their primary residence or have
income of at least $200,000 each year for the last two years (or $300,000 together with their spouse if married).
How New Age Capitalism, New Age Corporations &
New Age Thinking Will Benefit Orangeburg’s Black Community
A similar outline was prepared and presented to the highly esteemed, John H. Yow, City Administrator for Orangeburg,
South Carolina on September 9, 2015. On February 2, 2016, this presentation and discussion was updated to focus more specifically
on the Black Community.
I. New Age Capitalism & New Age Corporations
What is New Age
Capitalism? New Age Capitalism is a capitalization or funding model that is based on Otis Harrison’s
concept of many paying a little to fund or capitalize a corporate enterprise in which those that put up the money collectively
own the corporation and its assets rather than a small group or a few individuals. A Board of Directors works for those that
put up the money – the owners – the shareholders - the Black community or an entire city.
Who created and developed the New Age
Capitalistic concept? New Capitalism was created by Otis Harrison and developed by George M.
Sistrunk; both men
are from Orangeburg South Carolina. The term, New
Age Capitalism describes “many paying a little” and was coined by George M. Sistrunk on May 13, 2015.
What is a New Age Corporation? A New Age Corporation is a legal corporate
entity that is established pursuant to law that is based on community ownership and control of the corporation and the 7 principles
of New Age Capitalism that are as follows.
1. There must be a genuine potential for profit or gain.
2. The upside profit or gain must be high.
3. The downside risk must be low.
4. A profit or gain must be based on sound moral principles.
5. A profit or gain must be based on sound ethical principles.
6. There must be tangible or intangible benefits for all involved.
7. There must be tangible or intangible benefits for others; especially,
the owners – the shareholders, i.e., the Black community.
Therefore, the primary purpose, goal and/or
objective of a New Age Corporation’s Phase
I - Acquisition program is to acquire businesses
at reasonable market prices that can provide immediate benefits to the owners/shareholders,
i.e., restaurants, grocery stores, clothing
stores, gasoline stations, convenience stores, jewelry stores, shoe stores, appliance stores, automotive service centers,
etc. Owners/shareholders purchase items from their own stores at cost and eat out at cost.
a downtown area is virtually assured because businesses acquired by a community owned and operated New Age Corporation are based on diversification and not consolidation. This means the department store business
model is done away with. Jewelry stores sell jewelry, not belts, scarves and handkerchiefs. This means more business owners or managers and more
variety in each store relative to the merchandise and/or inventory being sold.
As a direct result
of buying at cost, community owned New Age Corporations basically cycle inventory.
This aids and drives the overall economy. Instead of buying a little, buying at cost, basically allows owners/shareholders
to purchase what they need when they shop. Naturally, all stores and businesses are opened to the general public. However,
shoppers from the general public must pay retail prices for any item purchased and/or for services used.
Benefits of New Age Capitalism for the Black Community
The major benefit of New Age Capitalism, its mandated New Age Corporations and its by-product New Age Thinking is this:
They effectively end the mythology that is rampant in the Black community. That mythology is simply this: Huge segments of
America’s Black population; including many in Orangeburg, really believe it is White America’s responsibility
to provide them with everything from education to transportation, healthcare to welfare to daycare for their children, self-esteem
and everything else in between while they sit home, watch TV, sell illegal drugs, engage in other forms of criminal activity
and/or counter productive behavior, rob or pillage or do virtually nothing to help themselves, improve themselves or develop
themselves. These con-cepts also neutralize the crippling effects of radical individualism that stymies group solidarity.
The social and
economic cost of maintaining such a dysfunctional system of public assistance is staggering and dangerous to law enforcement,
the people that are promoting it and to those directly benefitting from it. The Reason: No one will ever know when
this criminally inclined culture will turn on the promoters that made the programs possible when they leave their gated communities
or suburban homes. No one will ever know when this same criminally inclined culture will start victimizing recipients in the
community that are being supported by the same public assistant programs that are sustaining the criminally inclined. Let’s
review some irrefutable facts.
Irrefutable Fact #1: For over 700 years, Black people have been brutalized, demoralized, enslaved, butchered, murdered, massacred, hung from trees and forced to watch in horror
as babies were killed in the womb of their mothers. Black people were also forced
to live under the psychologically devastating impact of the Democratic Party’s Jim Crow Laws. After these hor-rors,
Black people were relegated to second class citizenship, menial jobs, denigrated, humiliated and imprisoned in poverty stricken
enclaves or ghettoes all over this planet. Anyone can Google these topics or the subject matter online for additional verification
of the aforementioned facts.
Irrefutable Fact #2:
In 1948; primarily, Christian Europe, and in the 1960s, Christian America, decided to do something to compensate for past
horrors inflicted on indigenous peoples as a result of colonialism, war, the need for
natural resources and just plain barbarism by so called civilized Europeans and Englishmen. Internationally,
in 1948, Universal Human Rights were adopted by the United Nations General
Assembly. Starting in the 1960s, Civil Rights and Voting Rights were instituted in the United States; along with Affirmative Action and Equal Employment Opportunity. Legal structures were
put in place to enforce these new mandates. Therefore, for this effort to rectify
the White community’s past abuses, Black Americans should have organized themselves
accordingly to take advantage of it. Instead of creating, developing and building cohesive infrastructures for long term growth,
demands on the White community became even more outrageous. Hollering racism has now become a national past time for many.
Irrefutable Fact #3: One need only to examine America’s major inner cities to verify the undeniable
fact; that instead of improving ourselves over this 67 year plus period, millions of Black people, worldwide, have actually
gotten worst. And... this is after the White community has spent trillions of dollars in undeclared reparations and/or retributions
that they placed on themselves to fund all kinds of programs to facilitate improvement of the Black community. Why have all these efforts at improvement in every conceivable category
failed the vast majority? The Reason: No
independent economic system was ever developed or positioned to maintain it.
New Age Capitalism,
its mandated New Age Corporations and its by-product New Age Thinking are self-sustaining systems that should
have been instituted in the 1970s. New Age Capitalism is the first ever and only workable economic development concept
ever devised by Black Americans for Black Americans. Not even Marcus Garvey’s Universal Negro Improvement Association
of the early 1900s can equal it. It requires no government subsidies, no government set asides, no special legislation and
no political pandering. All it requires is a level playing field and for the Black community to take advantage of it and utilize
of New Age Corporations for Orangeburg & Elsewhere
The most important benefit to Orangeburg
and elsewhere is a community owned New Age Corporation is not a profit driven enterprise, it is benefits driven. Therefore,
Phase II Acquisition programs will benefit Orangeburg and any other town, or city. Phase II Acquisition is committed to acquiring
abandoned properties. This effectively ends blight. Properties are acquired to hold for value not profit. The taxes paid on
the properties is a source of revenue for the county and/or city. Therefore, abandoned office buildings, retail stores, factories
& plants do not have to decay, they can be converted, renovated or demolished.
and in other countries,
a community owned New Age Corporation
resource driven. This effectively ends the need for hydroelectric plants in third
world countries; especially
continent from which the overwhelming
people in America
are descendents of the indigenous
wind, geothermal and zero point energy
community owned New Age
facilities to power
hubs and provide electrical energy to millions
on the dollar.
A community owned
New Age Corporation provides real hope and genuine opportunity for African American young adults; especially in technology
driven industries, the sciences and engineering. These new developments within a predominantly minority community are undeclared
and unwritten incentives for young adults to stay in school, learn while in school and continue educating themselves once
they leave Orangeburg High, S.C. State and Claflin behind. A community owned New Age Corporation will always need cutting
edge technology for communication with owners, for meetings, conferences, training and for educational purposes.
New Age Corporations can drive economic performance. This is the first time in South Carolina’s history
that Black people can drive productivity and economic development at all levels of society. This is also the first time in
South Carolina’s history that Black people are creating meaningful career opportunities in corporate America, rather
than standing in line, with hat in hand, hoping for an opportunity to work in a White owned and controlled corporate enterprise.
In addition, Black MBAs can gain real experience operating a corporation, rather than, soliciting White corporations to support
and maintain their MBA, nonprofit organization, i.e., the NBMBAA.
New Age Corporations also enhance and support local economies. As already stated in the last paragraph, on page 1,
New Age Corporations cycle inventory at cost to owner/shareholders, rather than seek profits. This allows New Age
Corporations to revitalize downtown areas with businesses that cater to the needs of owners. Like the jewelry store example,
our clothing stores do not have to sell shoes, handbags or perfumes. This expands the need for retail space for additional
specialty stores that can meet the buying needs of owners.
Community based and owned New Age Corporations
effectively neutralize and lower demands for
government sponsored services. Welfare and unemployment rolls in local communi-ties can be lowered because of the need for qualified personnel for maintenance, renovation, demo-lition (if needed) and to operate stores, manage LLCs, distribution
centers and warehouses, just to name a few. Wherever a New Age
Corporation establishes a headquarters, the corporation will need executives, staff,
maintenance personnel, managers and employees.
A New Age Corporation that is owned, managed and operated by the Black
community can effectively lower the crime rate. The Reason: Whenever a community
owns the businesses, shops and stores, the children of the owners are also owners of the stores, shops and businesses. Therefore,
rather than breaking and entering and robbing, they will be the ones protecting their assets. In addition, towns and cities
will not have to pay for this policing. Corporate owners have a legitimate right to safeguard and protect their income producing
or money saving assets. Consequently, looting, rioting and burning are effectively eliminated and racial tensions lowered
to manageable levels.
Community owned and controlled New
Age Corporations will effectively reduce excess inventory and unused office space. Excess inventory can be sold or leased;
as well as, unused office space. This will generate revenue for the city, rather than cost the city money in maintenance.
A community owned New Age Corporation effectively neutralizes and reverses all the negative trends that have been festering in the Black community for over 50 years that are
detri-mental, debilitating and unproductive. The brilliance of New Age Corporations is the guidance and direction of a multi-million dollar C corporation is placed in the hands of ordinary people, many of whom will
have no business experience. Therefore, the mere fact, that they collectively own the corporation, forces potential owners
to study and learn about corporations, the laws governing corporate activities
and the responsibilities of owners and their Board of Directors.
Irrefutable Fact #4: Currently; in 2016 and for 400 years prior
to 2016, African Ameri-cans as a collective ethnic group, own no major banks, industries, distribution facilities, factories
or plants, no research and development facilities, companies or corporations, no competitive financial institutions, no competitive
technology companies or corporations and no major com-panies involved in discovering new natural resources or raw material/s
for industrial develop-ment or for maintaining a technologically oriented and advanced modern, post industrial, and/or
industrial society, country or civilization. All this can change in a relatively short period of time, by saving money individually
and pooling those resources collectively to capitalize corporate enterprises that are competitive. This cannot be done by
a nonprofit organizational structure.
A community owned
New Age Corporation effectively eliminates the
need for Black people to blame White people or our slave heritage for our collective failure
to own corporate enterprises. The blame game is unproductive, self-limiting and intellectually destructive. A com-munity owned
New Age Corporation can mobilize financial resources on a massive scale, at competitive
levels and economically and politically empower the entire Black community in Orangeburg; as well as in the entire State for
the first time in our history in South Carolina.
owned New Age Corporations use existing laws that have been here since 1933 and
the financial resources that currently exist within the Black community. In 2014, 507 billion dollars flowed
into and out of the hands of Black Americans. This waste must end.
New Age Capitalism, its mandated New Age Corporations and
its by-product New Age Thinking can trace their roots to the first Million Man March of 1995. The problem
in the Black community in Orangeburg and everywhere else in America is not a lack of resources, it is massive mismanagement
of available resources, inept leadership, misguided alliances, unpro-ductive and detrimental philosophical belief systems
and a persistent lack of vision. Based on the verifiable fact that Black America spent 507 billion in 2014 with virtually
nothing spent on asset acquisition; if properly managed, 100 or more New Age Corporations can be fully funded
and operational in a single year after startup by using New Age Capitalism, its
mandated community owned and controlled New Age Corporations and its by-product New Age Thinking.
Marching in the streets of America for more government programs for Black America is a waste of time. America is already
heavily in debt. More government programs will increase the ignorance levels and dependency of Black America on government
and will not solve Black America’s economic woes. In fact, more government dependency will slowly but surely hasten
the demise of what is left of America’s predominately Black communities, including the Black community in Orangeburg.
Rioting, looting and burning down the only businesses in the Black community are unproductive, destructive, self-defeating,
damaging economically and barbaric.
Rather than participate
in more ineffective Million Man Marches and other public demon-strations, it
is far better and wiser for America’s Black population to have thousands or millions of shareholders owning their own
New Age Corporations. The bravery and courage of the Black community in Orangeburg
must be duplicated over and over and become the standard for corporate growth and development in Black America, rather than
the exception. Rioting, looting, burning and millions of African Americans perpetually living on government programs
will eventually lead to a backlash with devastating and perhaps violent and/or deadly consequences.
Capitalism that is a myth, a sophisticated welfare program and a pipe dream because there is no genuine infrastructure to
support it or sustain it and there is no real political incentive to subsidize failing Black owned enterprises....a
New Age Corporation is not a myth or a pipe dream. Funding for a New Age Corporation
is based on verifiable African American economic reality and not on any “I have dream.” What little financial
resources that exist in the Black community in Orangeburg can best be utilized by combining them for asset acquisition
by a community owned and operated New Age Corporation. By doing this, the corporation will have the financial capacity to acquire assets in any competitive market environment from which,
the Black community in Orangeburg, as a collective entity, can realize benefits or profits.
resources grow from income producing assets from around the world, mean-ingful investments can now be made in our communities
or in any other community, in which, rejuvenation and/or renovation can produce a potential for continued growth and development.
With a community growing, instead of deteriorating and dying, the infrastructure to sustain long term viability can be firmly
established. This facilitates the circulation of money within Orange-burg’s Black community, rather than out of it.
The longer money circulates within a community the stronger and more viable that community becomes. I am sure anyone in Orangeburg
with reasonable intelligence can readily see the difference a community based, owned and
controlled New Age Corporation can make and will make in the lives of America’s Black population, in Orangeburg, South Carolina, anywhere else in the
state or anywhere else in the country.
Responsibility of the Black Community
Orangeburg, South Carolina is the birthplace of New Age Capitalism and
its mandated New Age Corporations that are collectively owned by the people. Therefore,
it is the duty and responsibility of the Black community to examine this philosophy, monitor it and help it grow and survive,
then individually or collectively write the books and manuals for its oversight and governance. New Age Capitalism and its mandated New Age Corporations exist nowhere
else on earth and there are no schools, colleges or
associations that can teach its principles. Therefore,
the world must come to Orangeburg to learn about it and from Orangeburg the concept can be transplanted anywhere else in the
State of South Carolina, America and the world; to empower predominantly Black communities; especially, in the Caribbean,
England, Europe and Africa.
The logistics of community owned New Age Corporations are staggering and
costly; especially, in ink and paper. This is the primary reason why a New Age Corporation
is depen-dent on technology and drives technology to higher levels of capability and competence. 100,000 active owners must know what their Board is doing. In addition to voting power, collective owner-ship also means a unified system of management and governance that must be developed and implemented.
The Black community and its leaders in Orangeburg can provide class room space for training and teaching; as well as establish,
a liaison between local government officials, agen-cies, supportive organizations and the Board of the New Age Corporation.
With growth potential to 100,000 to 200,000 active owners for every New Age
Corpora-tion, an entire city must be built to house them, a domed meeting facility that can seat 200,000 people must also
be built and an international airport to land the jetliners just to hold the annual shareholder’s meeting. The number
of jobs created just to manage the city is also considerable. Since South Carolina is the birthing state of this revolutionary
concept, it makes sense to build the city and the facilities in South Carolina. Naturally, the world’s first New Age Corporation will erect the cellular towers that are needed for communication. After all, this is already
written as a Phase III development and/or acquisition project.
Everything relative to New Age Capitalism and its mandated New Age Corporations must be written as it is implemented, tested, proven,
refined and developed. New Age Capitalism is a major Paradigm Shift in Black-White relations
that cannot and will not erase past atrocities. However, the possibility now exists that such atrocities will never be repeated.
It is time Black America burn the bridges of the past and march boldly into the future with the other races and ethnic groups
living on this planet and replace obsolete linear thinking with New Age Thinking
that is multi-dimensional in its nature, conceptualizations and precepts .
The Black community in a small rural
town like Orangeburg South Carolina now has in its possession the most sophisticated economic development strategy ever devised
by Black Americans; i.e., Otis Harrison and George M. Sistrunk. Therefore, working together, the Black community in this town
and this state can lead the way to a future that was unthinkable just 5 years ago. There is an entire universe to be explored
and developed. It is about time all of us, working together for the first time in the history of planet earth, be about the
business of preparing ourselves to explore it and develop it. To learn more about Orangeburg’s New Age Corporation
call 803-534-6727 for preincorporation information or a preincorporation information packet.
George M. Sistrunk
by George M. Sistrunk. All Rights Reserved.