"IT IS 'I1ME that we 100 at
� oUlSelves to see what it is that we
me eot doing that we sOOuld be
doing time 10 look at one aootber
to see bJw, wo� toF�r, we
bcatbelpcadl� time �do
�rwe canto makcS\l'e that
the �mtion coming behind \B
em buildonw t we've adieved
mtbcrthanl grouOO, "said a guy
. woo si in oorporate boardrooms
but still seeks i) reach bade and
help the growth in Black com
mlllitics.
But many in our community
will oot be willing i) get bade to
the basics ofbuildingwithHankin,
i becaise be an executive with a
cigaIettc aM alcomlic beverage,
• cotq)8IlY.
Many of our so-called
"leadcIs" will CUISC am � in
direct contrast to the free
entetpIi;ecom:eptofAmerica, that
the 1llBlicc� am promotional ef-
• fum ofMillcr Brewing Cbmpany,
the pmliWa woo annually gain
20 i) 25 petml1 of their �tating
revenla fian the advertising of
tobacco am alcoOOlic beverage
companies, will say that Blacks
· smukl be given the freedom of
• consumer cOOice just like any
�r ethnic group in our society.
· Tbose I1lY-saym i) Hankin
· am his corporatioo, sOOuld oote
their social rcspollSlbllity actions
f towaId btild.q in Black America
m1 i15 IeadclSbip. While the
debate continues tegarding the
produc51hatHankinprornotts, hW
company has a record of
reciprocity to Blaclcs that·few
· caeal, gmollne, � or retail
companies seek or care to rival.
While Blacks buy 15 '> :!)per
cent of Hankin's beverage
• products, his axnpeny teturm a
good pcxtion of t1JJse revema
bade into our COIIlIJ1\Dty '> help
DQC of \B manifrst our <1reaIm.
IN ADDmON.lO providing
• scores of Black� dealer
� '8ClO8S the country, Miller's
Thurgood Mmshall ScOOlaJsbip
Fwx1 cummdy provides over rw
fully-paid scOOlaIships k> BlSek
tudetm from across the nation.
Hankin' firm works in
�l8tion with the Office for the
�nt of Public Colleges
to provide S\Btaincd financial sup
port '> tudetm m136 historically
Black pmlic �ges am miver
sides.
Realizing our mutlBl intercs
is a fust 1ep in the oourse tl'Bt
BIackOOlBlJlmrsaoocupomtiom
stK>uld follow. Our ml.tual am
cans ml inta'esW smuld aue
each eX \B't> oote the advantap
that can acauc through colJective
interaction aoo growth for our
communities, corpol8tio and
oomiry. If we get beck to the
basia ofAmericanfiee.alaprlse
we can 'iJf1W within mI between
oUlSdves. '
BUSINESS FINANCE
C CCOU T for
$900 million in the Oeor coun
ti of th u metropolitan
s ti tical area nd $622 million
in the Columb
Figure for other Georgi
metropolit n ti tical re in
the tudy : Alb ny $421 mil-
lion, • Athe S249 million,
COD- Wamer Robins $882 mil
lion d Sav nnah $741 million.
"The ability to capture Blac
Supporting minority entrepreneur.hlp. - Mark Mont.v rdl, left. Speclallat, Public Program ••
Philip Morrl. Companl • Inc •• Join. recently with, Lynda Ireland, aecond from I ft. Pr .Ident.
A •• oclatlon of Minority Enterprl_ of New York (AMENy). at A ENY'. 12th Annual Minority
Bu.lne .. Conferenc • With the th me. -Th. Botto", Lln •••• Gettlng To It. a th meeting focu eel on
a latlng minority entr pr neur. In .ecurlng governm nt and corporat contract.. Joining them
wer A.. mblyman J fferlon Aubry (D - Qu n.). third from left, and Brooklyn D mocratlc Party
Chairman Clarence Norman. .
Spelman College
appoints·new provo t
DVO C
y're thumbin through
ant ,ot quarterly reports.
Bach Tu day, they ther at the
Uni Y rian Church in thl
it burgh suburb for the Interfaith
Re-employm nt Group - tab
lishcd by several church in 1984
to minister to the need of steel-
or er and blue coil r type
rav by lIDO tac shutdowns.
But th1a is 1992, and hile fac
tory women have been hit hard by
hard times, thl reee ion in-
vaded the executive uite, well;
tbe proportion of lncrcaac in white
collar unemployment about 40
percent peater than it In the
downturns of 1981-82 and 1973-
75, the U.S. Labor Department
nid.
So the 900 clien of the Inter
faith Re-employment Group in
clude technical, ales and
admini tratlve people. About 73
percent have college degrees.
"MOlt of t e people never had
to face the prospect of being laid
off. They ere recrui ted for their
job ," aid David Bates, the IRG's
executive director since 1986.
" VERYBODY ASSUMES
only blue-collar people went
through this �nd of noDSCnse. We
know better."
The IRG i part group therapy,
part practical help and part spiritual
chcerle ding. Cienta learn the sub
tlod of bankruptcy II. from a
,
,
I
. .
I
HISTORICALLY, THERE
HAVE been worse reces ions; 0
far, there have been no seen of
W 11 Street executive selling ap
pica on the sidewalks like they did
in the Ore at Depression. But many
profe ionals 110 re out of wor
arc forced to take smaller
paychecks or do other job if it .
me having a job.
"You have to go ck to the
1930s to find an era where the ex
tent of downward mobility was
large," aid Robert Glee on of the
chool of urban and public affairs
at Carnegie-Mellon University.
I
,.
The IRG, which gets S60,OOO
instate funds, has placed more than
1,550 people in job over the past
six years -- a succes rate of 65
percent. But the average annual
alary in the new job is S24,OOO, a
. considerable cut in pay for many of
the jobseekers.
By CHARLES J. GIVENS
Today I'll an wer your ques
tions on capital gains and tax cred
its ... A woman from Alamosa,
Colorado write : "How can I tell
whether a ale results in a long
term or short-term capital gain or
loss?"
Think of a capital gain as your
profit or loss on the sale of an
investment or asset. If you -owned
any capital asset, such as stocks, a
business or a property for more
than a year before you sold it, you
have a long-term capital gain or
10 . If you held the asset for les
than a year, you have a hort-term
capital gain or loss. It is important
to make the determination. Under
the current tax laws long-term cap
ital gains have a maximum tax rate
of 28%, but short-term capital
gains can be taxed at up to 31 %.
If you lost money when you
sold, all your short-term losses
(under one year) can be deducted,
but long-term loss deductions are
limited to S3,000 per year above
your long-term profits or gains.
A man from New York City
asks: "How docs a tax credit differ
Dial 1-900-896-0000
�sk for Ext. # 214
from a tax deduction?"
A tax credit is a dollar-for-dollar
red�ction in the income tax you
owe. A tax deduction is a dollar- I
for-dollar subtraction from income.
The income is then multiplied by
the tax rate. If your tax bracket is
31 %, every dollar of tax credit
saves you one dollar; but every
dollar of tax deduction saves you
just 31 cents. Tax credits, like
child-care credits, credits for the
elderly and di abled, or credits
for the rehabilitation of historic
properties, have three times more
tax-reducing power than tax
deductions. I
Send information
to:
Michig<Hl Citizen.
P.O. Box 03560.
Highland Park. MI
48203
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Dr. Price comes to' Spelman from
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