NO'BlIER 11-
BUSINESS FINANCE
you
type
IOd
The part 0
: gnod opening festiviti for thi
Fortune 500 IOOlpany to sho -
its enhanced futwe by in
vesting . in it If. Th Ouysler
Technology Center (CTC). a
ling giant c:I a building that
· housed lunc.heoo. is a monu-
ment eX IICOCC8's. amd Ouy s,
dedic . 00 to education. research
mel renaissance. •
Like Blae America. Owy
bid many financial
Since Iscocca joined can-
· I*lY in 1978. orne days for
· OuysJer bave had diamonds and
, sane days have been just plain
one. Despite the company's
past ups IIld downs. I occa in-.
sists that. "This technical center
, repesents a n culture for ev-
I erybody - starting with me."
By DANNY COOKS
Corre5lpQB�
greet canmunity. Even 8 •
multi-purpo room couldn't cootain
the all t entreprenews. Additional
booths lined the h ]Ways. giving
Expo th f1 vor of Middle Eastern
Baza .
Atkinson said all time
th t th Expo' t\mout d be
hug . "I'm proud to have been a
eX it and I 100 forward to SMMB
ing off in a big ay aft thi."
SMMBA Pre ident Tom
Thorton . d 10 a leamed fex'
next ye . "We'll be looking fex'
larg f cility. ale that's centrally
loc ted." Lots of coot acts ere
m de and goods sold. Thomtoo ·d.
"Merchants ho p icipated felt it
w s orthwhil. "
A c ual sugge tion in e Iy
August by Emma Harris. own of
imbl Thimbl tailoring and
teration hop. at th South est
Michigan Minority Bu in Asso
ci tion (SMMBA) monthly m t
ing h exploded into what will
undoubtedly becom an annual fix
ture in Kalamazoo: A BI Busi
De Expo.
LOLA TKI 0 . Expo Com
mittee Chairperson. d lined to e
respon ibility fex' th orderly d pr0-
fession I manner in which th
wh lming turnout of bus'
community residents were h
"I couldn't h ve pulled it tog thee
without the members of the c:anmit
tee. especially Li Minott of D & M
Wrecking. There were few nights
wben she worked ri�t through the
night with me. Also. Cathy Oanfw
tremendously helpful to making the
Expo happen." Atkinson added be
fore remembering th ev closer
to home: "Of course. my husb� and
Sal licked stamps until their ebuds
were stuc to the roof of their "
CLOSI G OUT Minority
Bu iness Mooth. th Expo as held
in Douglas Community enter.
1000 W. Paterson. between 2:00
and 5:00 p.m. on Sunday. October
27th. Plans called for space to
accanmodate perhaps ten or fif
teen participating Black busine s.
. 'However. more than 80 Bl ck busi
nesses registered. paying $15.00
fex' the opportunity to meet and
MANY PEOPLE. seeing th
manner in which BI busine
were prospering. have since ap
peoacbed Thornton, encouraged by
what they w at the Expo. "asking
how they can market their own
ideas." he said. "Lola Atkinsoo and
Lisa Minott did an excellent job.
Let's be sure to give credit wh it'
due." Thornton suggested.
FOR THE first time in its
, history. cmysler has grouped all
the people involved in conceiv
ing. develOping and refining
Quyslel's car and truck ideas fex'
I future success under one roof. In
, its belief that it m "educate to
, elevate." CbrysJer built the erc
, to be the l_gest industrial-tech-
nology canplex in the world.
One and a half Empire State
buildings ex' seven Rose Bowls
I can fit in . de the Chrysler Tech
, DOlogy Center. The erc is big
, ger thm the Library of Coogress
Building. the Capitol •. Treasury
and the White House Residence
oombined.
The building's 70.000 square
, foot Education Center cootains
19 classroons. two lecture balls
I with tiered seating for 56 persoos
I aind a 543-seat auditoriwn. The
erc will house 7.000 Chrysler
employees by 1993.
Qwysler's ultimate goal is to
give itself the ultimate advan
, tage. .The company made its
, subStantial investment to slash
, the time it takes to develop its
, p'Oducts to as little as ttne ye.s
, fron\ -four or more. This will
I make it easier fex' Clwys1er to
oompete withJ apmese rivals that
recendy have been reaching the
I muet flist with models 000-
taining state-of -the-Kt features
amd contemporary designs.
"We see this center as a monu
I ment too long-term thing."
, Iacocca said. "We spent the
• mooey to ensure Chrysler's fu
ture into the 21st century. This
place is our commitment to
streogtbening America's indus-
I trial base." he added.
you must now select your lender. eX financing you are seeking. and
You may use your local savings what the lender will charge in the way
d 10m (S&L) association. of interest rates and closing costs.
S&Ls hav specialized in resi- Most potential homebuyers
dentialloans dwiog the past century. should select a lender th t offers a
They generally loan to local resi- wide v.-iety of mortgage plms r ther
dents. S&Ls often participate in r_� _ _,thm oee'oe two. This provides you
-eessing and handling FHA . a greater range of plans from
and VA guaranteed loans. which to select.
Commercial banks are not a pri- . In last week's issue. we pointed
m.-y source for residential real estate out some comparative shopping tech
financing. since they are not set up to Diques. At this point. we are assurn
finance loog-term to.ls. However. ing y�u have identified some lenders
commercial banks usually process and whose charges and costs are in line
issue FHA and V A loans. Commer- with what you want to spend. Now
cialloans are a good source foe short- you must consider one additional fac-
term. mobile-bane loans. tor.
"I DON'T THINK tbC owner of' Mutualsavingsbanlcsoper�telike
the pipeline should be able to com- S&Ls. These institutions are owned
pete with users of the pipeline," said by private investors and commit a
F r T. Weaver, publisher of the Jack- large share of their assets to real es-
on Citizen Patriot and president of tate mortgages.
the MP A. Credit unions are getting into real
like many other business groups, estate lending. In recent years. aedit
the MP A is concerned about the
issue of cross-subsidization. Al- unioos have expanded frun short-
though there is language in the term mortgages.
measure that would prevent local
service providers from passing the
cost of new technology and market
ing onto their rate payers, many con
tend that this language is not strong
enough.
Tho e, like Michigan Bell
Telephone, who are for the bill, indi
cated that the measure's original lan
guage was more than adequate to
prevent monopolistic behavior.
"The language passed in the
Senate was as strong anti-subsidiza
tion language as you would find
anywhere in the country," said Gary
Lytle, vice president of government
affairs for Michigan Bell.
A .proposed amendment would
require that phone companies keep
not only separate books for their
regulated and non-regulated busi
ness, but separate staffs and build
ings as well.
AND WHILE THE issue is not
a concern for him per onally,
Weaver said many newspapers are
also concerned about Michigan Bell
becoming a major competitor in
classified advertising and other in
formation ervices. .
"Tbeir (newspapers') concern is
t t customers will call Michigan
Be rvices tha1 they now
provide either ause it's cheaper
of maybe because It's an ea ler
phone number to remember-I don't
know," he said.
Weaver points to the wide variety
of adverti ing options currently
available as the cause for hi lack of
concern.
Advertising aside, allowing local
service providers like Michigan Bell
to re-enter the technology market un
checked is omething that does con
cern Weaver.
Ma Bell, newspapers tece
'off in fiberoptic fight
By LAURA BLAKE
C.pIt!l New. S.rvlc.
. lANSING-It's a legislative mess
as tangled as so many miles of
fiberoptic cable.
That's what state lawmakers are
saying about a highly-debated
telecommunication bill that passed
the House October 7 following three
days of debate and the addition of
over 100 amendments.
TIle Senate is not expected to ac
cept the House changes and the
measure will go before a joint
House-Senate Conference Commit-
associations such as the Michigan
Pres Association (MP A) against
some 36 local service providers.
And the bottom line is cost.
tee.
YOU WILL WANT to choose a
loan counselor who is sensitive to
your unique needs. will take the time
to answer your questions and resolve
your concerns. and has a good history
of loan closings. The real estate agent
that you will be using may help you
with this selection.
Next week. we will look at the
preparations you must take prior to
making a formal application.
The measure, over two years in
the making, pits several statewide
MORTGAGE
BANKING
Compmies originate mortgage loens
with Mds belonging to large fina'l
cial institutions. These oompanies
<riginate a large percentage of first
time-buyer lQms. There is a good
chance you will select one of ,these
companies to handle your loan.
Do.YOu have any questions on
real estate? Ifso, send them to Howard
G. Ball. Realty Services, Inc; 240
Western Hills Drive. Madison. AL
35758.
THE JOB INTERVIEW
What They'll Ask
Free holiday
product for
non-profit
organization
n ''WHO ARE YOU REALLY?"
Come armed with·a conci e. review' of your experienC4tS.
n ''WHY ARE YOU QN THE JOB MARKen"
Honesty is the best policy, even If you w re fired.
BLACK AMERICA has
reason to wish for Ctwysler's suc
.: cess in strengthening its position
in America's industrial base.
Many c:l OW' blue and white col
t.. jobs into the 21st century will
come from Chrysler and the
American au�obile industry.
Much of our training. skills
and urban tax revenues will corne
via Olrysler md its advancem�t.
As a part c:l its '. � s er
bas capital deposits in minority
bIoks and dealer development
pogtll1lS to assist more Blacks
in acquiring retail outlets fex' (3'
sales.
While Olairrnan Iacocca did
note 'Thanes' and Hill's decade
old workplace squabble. of
greater DOle to him w the edu
catiooal oppatunit' the erc
will p-ovide hi people to elev e
their careen and CtKysler's busi
possibilities. This type c:l
internal investment' scmetbing
tb Black leaders a:I COOS\a1l-
era sbould also take note of.
n "WHAT CAN YOU DO FOR US?"
Learn about the company you're applying at. How do your 'kit
fit thi industry? Ignorance h re can ink your chances.
n ''WHAT ARE YOUR STRENGTHS?"
ee prepared with specffics, but mphasiZe adaptability.
n ''WHAT ARE YOUR WEAKNESSES?"
Admit to ome, or you'll s .. m egocentric.
Thanksgiving. Mother' Day,'
Father's Day. Graduation and many
ll-occasioo party goods.
Non-peofir organa tions who •
join the AssoCiatioo receive these '
items free. The cle.-ioghouse bas .
over $30 millioo in excess and S\a'
plus corporate donatioos of every
thing from office fumitlft to house
hold products,
Pecersbwg, VL - Resources
Exchange Association. a not-foe
profit clearinghouse h just re
ceived _more than $1 million in
seasonal products fran American
Greetings Corporatioo. The dona:
tioo contains such items Quist
mas cards �d wr pping paper.
Valentine mug • gift bags and Eas
ter products such cards, books
and stuf(ed anim8ts.
Other holiday products shipped
to REA's 150,000-square-foot
cle.-ioghouse include items for
Valentine's Day. Halloween.
n ':wHAT ARE YOUR MOST SIGNIRCANT ACCOMPLISHMENTS?"
Com prepared with peclfics on how you h IpeeS your company
save money, outs II a rival or survive aiais.
n ''WHAT SALARY ARE YOU LOOKING FOR?"
Don't mention pay t first - let your prospective employ bring It
up If thing look promi ing. Don't low-bailor hlgh·bali.
S9' mlb6- RltMltrs DI,at
For a free product catalog and :
additional injormatton, please con
tact the REA at (804)733-0287, or :
by fax at (804)733-0441.