Jewish presence would add credibility and the minority ownership would be pres- tigious from a social respon- sibility point of view. These public partnerships would enhance opportunities for bet- ter understanding of each cultural group while pursu- ing a very objective profit motive. The highly conservative U.S. Supreme Court has maintained special laws regarding minority owner- ship of media-related com- panies. The message is clear that minorities need some privileges in order to establish a level playing field. The Small Business Ad- ministration administers 8(a) programs where a certain allocation of government funded projects must be con- tracted to minorities. If such companies were public, then the public could take advan- tage of the special oppor- tunities set aside for minorities. Dealmaking op- portunities for a Jewish-back- ed minority-controlled public company would be greatly aided by the powerful sym- bolic union of these cultural groups; and with good management and competent advice and counsel such com- panies could be extremely profitable and therefore ir- resistible. They may also at- tract other minorities or na- tionalities such as the Japanese who might find the cultural union inviting. The Japanese could bring tremen- dous financial clout to America's securities industry as their own securities markets have become overpriced. There are a number of corn- pelling reasons to go public. Technically speaking, cor- porate cash flows are enhanc- ed by earnings multiples. A $1 million cash flow at a multiple of 20 becomes a $20 million company. There is also liquidity. A public com- pany can be sold piecemeal which gives ownership many more options. For our pur- poses, however, the principal reason to go public is for visibility. Public companies are wide- ly held by shareholders and market makers. They are more visible throughout the country which impacts mar- ketability. A properly marketed minority-controlled public company with govern- ment-aided market maker support should sell at a higher multiple than its com- petitors. Pension funds which derive a percentage of their money from minorities would be encouraged to invest a percentage in these corn- panies. Large corporations such as Coors, U.S. West, and Martin-Marietta which outreach to the minority com- munity could be contacted to provide financing for some securities-related overhead such as preparing quarterly reports. Finally, once the minority-controlled public company has been establish- ed, the NASD can be lobbied to propose legislation that a certain percentage of market maker inventory must be stock in minority-controlled public companies. The effect of a movement to access the securities markets for minority business capital will be to provide oppor- tunities for minorities to in- vest in businesses which represent them. Hopefully many minority citizens and many Jewish citizens will make good capital gains from small stock purchases; and hopefully the participating securities firms will use NSD compliance as part of their marketing so that there is no repetition of the abuses that were common to the "penny stock" market. The success of minority-controlled public companies will build pride in the minority community and the Jewish community which helped to build it. The final effect will be to create a new multi-billion dollar segment of the securities industry. There are thousands of minority business owners who are successful and thousands more who could be successful. With investment from the Jewish business community into minority-con- trolled public companies, America can maintain its pro- minence as a capitalist coun- try and its prestige as a na- tion which provides oppor- tunity. 0 DETROIT'S HIGHEST RATES Minimum Deposit of $500 12 MONTH CERTIFICATE Of DEPOSIT New Zealand (JTA) — The woman charged with at- tempted murder for stabbing four children at Auckland's Kadimah College in July has been found not guilty on grounds of insanity. Pauline Williamson, who had a history of psychiatric illness, has been committed as a "special patient" to a psychiatric hospital after the Auckland jury took 15 minutes to decide that her il- lness had been responsible for the attack. Defense testimony said that Ms. Williamson is a paranoid schizophrenic. 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