BUSINESS/FINANCE
to lead a Christm on as­
sault on Sony on the consumer
front and has asked his
organization' Black-owned
member rations not to play
Sony-generated records on the
air, and for the Black com­
munity not to upport Sony's
products thi Christmas.
For Winston to be success­
ful in this consum r war, mil­
lions of Black Americans will
have to join in his campaign of
withdrawal from this segment
of the marketplace.
Sony has a major foothold in
retail products, such as
television, radios, video casset­
tes and cameras. Also, they
have control of much of the
record and movie industries.
Such stars of color as Michael
Jackson and Luther Vandross
are in Sony's CBS and Epic
Records' stables. Tri-Star Pic­
tures and Columbia Products
are Sony's film subsidiaries.
The question that is almost
as big as Sony is, can Winston
enlist enough Blacks to resist
their normal consumption ac­
tions, and completely stay
away from highly-promoted
seasonal movies such as
"Hook" and "Bugsy"? And
they have to be strong enough'
not to play, or buy; Michael's
"Dangerous" album ..
One of NABOB's major
complaints against Sony is that
Black-owned and programmed
stations were given late dis­
tribution of Michael Jackson's
long-awaited Eplc-label
record .. From a market share
and business receipts point of
view, Winston contends that,
"Copies of Jackson's new
songs were made available to
compe ting non- Black-owned
and programmed radio stations
in several markets 1 to 4 days
before they were made avail­
able to the Black stations in
those markets." This put many
NABOB-related stations at a
distinct disadvantage in their
businesses and markets.
WINSTON ALSO cites
that: overall Black' employ­
ment at Sony music is down
from when it was owned by
CBS; the number of Black VPs
at that company has decreased
since it was acquired by Sony;
and that Sony-controlled af­
filiates don't advertise on
Black-owned and formatted
stations at a level commen­
surate with the amount of
ai rplay their records get, or wi th
the amount of Sony music
products that are purchased by
the listeners of these stations.
Only if Winston and
NABOB can make Blacks
more educated about the effect
their bucks can have in leverag­
ing respect and return in the
marketplace can this latest bat­
tle have any impact.
NABOB is a trade associa­
non designed to improve the
business climate for African­
American radio and television
station owners and increase the
number and effectiveness of
these station owners
throughout the country.
NABOB is located at Suite
412, 1730 M Street, NW,
Washington, D.C. 20036.
J
po
Jfoxxy 0 velopment Corp., a
minority-owned firm ba d in
Richard 'on, Texas, i. oing on th
offen ive deploying the pc ceful,
nonviolent ta tics of the civil righ
mov ment of the SO' and 60" .
The company's President
CEO, Dr. Joseph O. Moore, is as-
embling an army of people from all
over America and of all racial, eth­
nic, socioeconomic, and religious
backgrounds to join in the battle ,to
defeat the en my of economic em­
powerment in Black America.
"This victory must be swift and
deci ive," y Dr. Moore, "and it,
too, will be America' fine t hour."
Dr. Moore' weapons to wage
his battle are not the conventional
tank, plane, rifle, nor missile, but
rather the intellectual capital of
Afro-Americans with an timated
val ue of well over a trillion dollars,
and their disposable income of near­
ly four hundred billion dollars.
"When combined with the extraor­
dinary purchasing power of all
Americans, economic empower­
ment of Black America is indeed
possible," say Dr. Moore.
r
y
In this effort, Dr. Moore has put
together his first project, one in
which every American can par­
ticipate by purchasing an athletic
shoe that will be on the market in
March of 1992. The goal, according
to Dr. Moore, i to sell one million
pairs of these shoes nd use a per­
centage of the earnings to finance
the construction of a SI2,OOO,<XX>
athletic shoe manufacturing plant in
area of Dallas, Texas where th re is
a high incidence of underemployed
and unemployed people.
PU'ITING SUCH A plant in
thi area will not only provide jo ,
but will attract other busin to
the area, improve the quality of life
for plant employee and their
familie ,and increase greatly the ex­
pectation that many of the dollars
paid in wages will be recycled in the
community, thus timulating addi­
tional economic growth and
prosperity for the community and its
citizens.
"If th battle i waged and won
here in Dallas," says Dr. Moore,
"then indeed it can be waged and
won all over America." If all of
America ge behind this kind of
national effort, the perception of
'people being excess baggage, non­
productive surpl population, or a
taxpayer' nightmare will be di -
pelled forever, according to Dr.
Moore.
Americans interested in joining
Dr. Moore' campaign can write
him at Jfoxxy Development Corp.,
1143 Rockingham Dr., suite 107,
Richardson, Texas 75080 or call 1-
800-776-4202. .
The State of Black Business in Kalamazoo:'
. .
Dying from a lack of funding; double standards
�
By DANNY COOKS
Co" •• pond.,,'
Why are there no Black family
restaurants, service stations, and
licensed repair shops on Kalamazoo's
Northside?
Is the absence of .. thriving busi­
nesses a result of Black apathy or lack
of busine sense?
Perhaps a failure of Blacks to in­
vest in their neighborhood?
A longtime northside reisent and
businessman who chose to speak
anonymousl y insisted recently that
racism is the reason for the absence of
the entire range' of business
enterprises by Blacks on the
northside.
:There i no money available to
start or operate businesses requiring
large capital investments," he said.
Financial institutions charge 17-
22% interest on borrowed money to
Blacks on the northside, resulting in a
situation where a Black entrepreneur
will have to operate at a loss.
"Who goes into business to operate
at a 10 ?" he asked, rhetorically.
"Years ago I approached a lender
wi th a proposal for a S50,(XX) loan.
With it I would rehabilitate my build­
ing, which would then have an ap­
praised value ofS200,00. In exchange
for the money the bank wanted me to
mortage this business, my other
properties and my home!"
Okay, so why not get the money
from the City's low interest business
loan program?
"A city-backed low interest loan
for a northside business is S25,(XXl."
However, he contrasted � with the
SI50,<XX).$200,OOO loans available
in other areas of the city.
"A S25,000 loan is not nearly
enough to start and successfully run a
business, on the northside or
anywhere else," he declared.
Marc Ott, Deputy City Manager,
told the Michigan Citizen that the City
offers a S25,OOO Small Business
Revolving Account through the
federal government's Block Grant
Program.
''That program is under study to
Blacks move more than,
whites" census says
A larger proportion of Black
households than white changed
residences in 1989, according to a
report released by the Commerce
Department's Census Bureau.
The survey was conducted fo� the
Department of Housing and Urban
Development.
According to the report, residential
mobility is much more common for
renters than for homeowners, and
Black households were more likely to
be renters (57 percent) in 1989 than
white households (33 percent).
About 22 percent of the nation's
10.6 million Black households moved
sometime during the 12 months
preceding the survey, compared with
17 percent of white households.
IRS Tax course available
to teachers
DETROIT, MI-Students can learn
about taxes and the federal tax system
with a modular package of tax infor­
mation material available free for
school teachers from the IRS.
''The course, called Understanding
Taxes, is designed to introduced stu­
dents to a tax vocabulary and simple .
tax returns," said IRS District Director
John Hummel. "It also explains an
individual' tax re pons ibili ties, and
the political and economic history of
taxation." •
The program includes nine 15-
minute videos on VHS cassette and
software that "walks" students
through completion of W-2, W-4,
I040A and 1040EZ tax forms. And
overview booklet and detailed lesson
plans with transparencie and
duplicating masters is also provided
for teachers' use.
"STUDENTS CAN learn an es­
sential skill that will be useful to them
all of their lives through this course,"
Hummel said.
For more information about the
Understanding Taxes program, inter­
ested educators can 'contact the IRS
Taxpayer Education office by calling
toll free 1-800-829-1040, extension
3674; or call direct on (313) 226-
3674.
see if it is consistent with federal
guidelines. "
Ott was in agreement that S25,OOO
was not enough to start up a business.
."It is provided to assist small busi­
ness-not to be relied on as the prin­
cipal funding."
Ott said the money should be used
1
. as "leverage to get additional dollars"
from other financial institutions.
"Why are Black businesspeople
having such a tough time raising
money?" City Commissioner
Alexander Lipsey asked. "That's the
issue which needs to be pursued."
Lipsey apparently has ideas of
Blacks being shut out of the money­
lending pipeline, keeping them from
investing in their neighborhoods.
After all, he recently fought to put
teeth in kalamazoo's program to en­
sure ten percent of all City goods and
services are bid on byminority con­
tractors, thereby breaking up another
"ole boys network."
Taxpayers .Ask.IRS
·1
Estimated Tax Payments
Need Information about Businesses?
Call the Business INFOLINE!
, or
These are typical of questions
asked by taxpayers and are pre­
sented as a public service of trus
publication and the IRS.
Q. Who is responsible for making
csrlmatcd tax payments?
,'1. Generally, you must make e�ti­
mated tax payment . fur I')') 1 if
you expect tu owe at h:.I�t "50U ill
lax fur IlJ,) I, alter .ubrrucring your
withholding and credits, and YULI
C\PCl't your withholding and crcd­
irs to be lcs than the muller of:
-()O percent of the t.ix to be
shown on your 1')4) 1 tax return.
. -100 percent of the lax how n
on your I ()')O tu: return. a,,�uming
the return covered all 12 mouth-,
,'1. 1 hac llla) be �l penalty fur
un kl puymcut of wuhholding alld
c unuucd tux. l Iowc , cr. inc IRS
IlOW ha:, lhl' .1llIhufll) to \'.ii\ c the
penalt) fur not p.t) in� cst uuutcd
tJXl'� umcl, If the underpayment
\\�l� due to �'�l uult y , di��1 ier or
other unusual cu cumstuucc«. It
m.iy al\l) w.u v c lh� penalty tor
lea enable cause during the lir�l
two )�ar:-. �lftl'l a ta>.pa)cr read\l'�
agc b::! and ret i I �. or becomes
disabled.
(J. l low i� thc penalty tor under­
payment uf t.l.\ liglll �'J'!
.. , The rl'nah�' i ... ha�ed on tllc
snon-rcnn tcdcral rare of interest
hut i:o. nul l'lllnpOllndl'J dail�.
Working couples may have a ta�
balance due unless they pay addi­
tional arnoum s during the Y"'ar
cit her through exira wuhholdiug
tax. or b) c timaicd tux payments.
The work hcct for the Form W-4
will help .1 \\urkinl!- couple decide
whether they need to have more
ta w ithheld.
Q. h there ·a pcnuh y if I du nOI
huve enough paid in at the end of
the year? .
Dial -900-896-0000
Ask/or Ext. # 214
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