Business

Black Expo bringing Gary model to new charter school

INDIANAPOLIS (Inside INdiana Business) — Indiana Black Expo Inc. is teaming up with the Indianapolis-based GEO Foundation to open its first school next year.

The foundation says the school will be located at IBE’s new headquarters on the east side of Indianapolis and  use the same college immersion model as the foundation’s 21st Century Charter School in Gary.

Kevin Teasley, founder and president of the GEO Foundation, says the model provides low-income, minority students the opportunity to attend and complete a college education, which starts with taking college courses while in high school.

In an interview with Inside INdiana Business, Teasley said the partnership was formed after IBE Chief Executive Officer Tanya Bell visited the Gary school.

“(She) was pretty impressed by the number of high school students taking college-level courses while in high school and basically walked away saying, ‘No one’s doing this in Indianapolis,’ and that’s true; no one’s doing what we are doing with the population we are serving,” said Teasley. “Basically, we’re getting 80-81 percent of our students to take real college courses while they are in high school. We’ve got a number of students earning full associate’s degrees; we’ve had 25 do that in the last five or six years. We’ve actually got the only student in Indiana’s history to earn a full bachelor’s degree while in high school.”

The foundation says graduates from its Gary school this year finished high school with an average of 19 college credits completed. Teasley says bringing the model to Indy will create a great opportunity for students in the community. 

Teasley says a reason for the small number of low-income, minority students going to or completing college is a lack of experience while they are in high school.

“Generally speaking, our families in Gary, Indiana come from homes that have very few experiences in college; roughly 10 percent of the children we serve have any college in their high school. So, to expect these students to graduate from high school and go straight to college and complete college without giving them any experience in college while they’re in our high school is kind of a silly expectation.” 

The school is slated to open in August 2020 and Teasley says it will open with a class of 200 freshmen. The partners are working with several higher education institutions in Indianapolis, including IUPUI, Ivy Tech Community College, Marian University, Butler University and the University of Indianapolis. 

“We actually look to serve all the students that come to us and place them in the right setting, whether that’s Ivy Tech or IUPUI or Marion or wherever. It’s a very different model. The students are literally on college campuses and believe it or not, parents, your kids can do this.”

In 2017, Teasley appeared on Inside INdiana Business with Gerry Dick along with student Raven Osborne, who earned her associate’s and bachelor’s degrees while attending the 21st Century Charter School in Gary. You can watch the full interview by clicking here.

Teasley says the partnership was formed after IBE Chief Executive Officer Tanya Bell visited the Gary school.
Teasley says a reason for the small number of low-income, minority students going to or completing college is a lack of experience while they are in high school.

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Dow tumbles 900 points, adding to sharp losses Monday, as coronavirus fears continue

(CNN) — Turnaround Tuesday didn’t happen for stocks. US markets are back in the red, adding to their sharp losses Monday amid coronavirus fears.

At its lowest point, the Dow shed 929 points, or 3.3%, in the early afternoon, while the broader S&P 500 was also down nearly 3%.The Nasdaq Composite also fell 2.7%.

The Dow is more than 8% below its most recent high, putting it close to correction territory. The Dow would need to fall a total of 10% to officially be in a correction.

“This is not the beginning of a bear market but it could be the start of a correction,” said Adam Phillips, director of portfolio strategy at EP Wealth Advisors. “The coronavirus continues to spread and containment remains an issue.”

It’s a good thing that the market is finally pricing in the risk the virus poses, he added.

“Stocks should not have been at all-time highs because of the impact of the coronavirus,” Phillips said. “The biggest risk is to earnings, and you are starting to see more companies come out and guide expectations lower.”

Economists remain worried about the economic fallout from the virus outbreak, including its effect on global supply chains and trade.

An official of the US Centers for Disease Control and Prevention said Tuesday afternoon that quarantine and travel restrictions have so far proven successful in America, but the CDC ultimately expected the number of US patients to rise.

News of a sudden increase in cases in Italy and South Korea tanked global markets on Monday, leaving the Dow to plummet more than 1,000 points — something it has only done twice before in history, both times in February 2018. The index has dropped for four consecutive days including Tuesday, shedding more than 2,000 points in total.

US stocks initially appeared to rebound at Tuesday’s open, but soon fell back into negative territory.

Even so, the risk off sentiment was nothing like Monday, said Fawad Razaqzada, senior market analyst at TradingCandles.com.

A further selloff in stocks could be staved off by some bargain hunting and profit taking of investors with short positions, Razaqzada said.

The CBOE Market Volatility Index, which spiked Monday, was again 20% higher.

The safe-haven US Treasury bonds again attracted buyers and the 10-year bond yield dropped to a new all-time low below 1.32%.

Gold prices, which rallied at the start of the week, were in the red.

US and global oil benchmarks also fell further on the expectation of lower demand for energy in a coronavirus-inspired economic downturn. US oil was down 3.1% at $49.82 a barrel, while the global benchmark shed 2.4% to $54.95 a barrel.

— Paul La Monica contributed to this report.

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