BUSINESS/FINANCE
Who would qu tion th t
B peop lot rrore
jingl in our j ? Surely no
one, and definitely not BI
people in Harlem, Wa South
Philly. But, who' out there
givin tom Bl can
t more bread in our poe
q tion t African Ameri
uld long before �
general e 0 ovem r 3rd.
Are we content to go along
with tyl . played by President
Bush and Governor Clinton
without qu tionin the ub-
tance of �ir wo am '0
toward helpin BI to koow
full economic participation in this
country?
Who is talking bout how
Africn-Americam can get their
unemployment ra down to �
level of the general population of
America? Or, woo is talking
about how to get Black b iness
loans up � level of� average
American business operation?
Why are we letting ourselves
get caught up in the style subject
of the day, such did Qinton
duck the draft? re relevant
questions for could be, "What
did Bush do to rebuild South
Central L.A?�
Homeowne insuran cove
your re I nd pe on I property
g i t 10 . In ddition, it provide
insu nee to 'protect you inst
person I u bility, medic I p y­
men nd property damage ca ed
by pe 0 other t n you-the in-
ured.
The term "Homeowne In-
ur nee" i mi le ding. S nd rd
pac ge cover aIm t every thin
you own, pI credit c rd 10 es,
medic 1 bill nd even person I
liability. For ex mple, if one of
your credit card i tolen, your
name forged nd purchase made
without your knowledge, your in-
urance company will typically pay
up to S1,OOO of your 10 e.
Und rat ndlng Your Polley
Homeowners insurance i often
thought of as a ingle type of in­
surance policy. Actually, there are
five different form available to
homeowners, and two other form
Sele tin the ri ht mount of
homeo ne i u n m n I
in in th ri ht pi e. Foe your
ttention on e tion one in your
policy. Be ure to indicat th t the
cont n of your ho e re to be
insured for "repl ment co t."
Then if there i' 10 , you re
given money to actu lly repl ce,
rep ir, or rebuild your house.
Thi repl cement coverage
refers only to the phy ical tructure;
coverage on the contents is typical­
lyon n actually h valu . Your
replacement will be cal cuI ted after
ubtracting the depreciation in the
event you uffer a 10 •
In ure your personal property
for every dollar value of property
you have in your home. If your
property i worth 0,000, buy
$80,000 worth of in urance for your
personal property.
able to get price bre if the me
i urer write 11 your coverage.
M ny i ure offer di coun of
up to ten percent if you i tall
v rio s ety nd ecurity fe ture
in your home, uch fire nd
moke I rms, deadbolt loc nd
fire extinguishers. You can also cut
your rat by rai ing the mount of
your deductible-the amount you
pay before the insurance e over.
Although your homeowne in-
uranee i a DC ary part of your
insurance coverage, it doe n't h ve
to cost you n rm and a leg.
Charles Ross is the host 0/ the .
nationally syndicated radio pro­
gram, "Your Personal Finance"
and author 0/ "TIu! Best 0/ Your
Personal Finance".
In ur nc for R nt
nd Condo Own r
Even though mo t people tend to
think bout ingle-f mily ho e
when homeowners insurance i di -
c ed, you can purch e insurance
for partment or condo. The in-
urance i till considered
homeowners insurance, but for
renters and condo owners it only
covers personal property and cer­
t in type of 10 e. With renters,
to al
Getting Th B
Price for homeowners in-
urance can vary, but there are ome
way you can make ure you get the
be t deal.
Above all, hop around. Com­
pare rate on imilar pollcles. You
might consider buying 11 your in­
surance policies from the same
agent or company. You may be
Upd tlng Your In urance
Review and Update your
WHERE ARE African
Americans in LA, Harlem and
elsewhere going to get the j�
we need to feed our families and
keep them stable? How can
Blacks who want to get into busi­
ness get inves�nt support and
credi t needed to secure, and
maintain, business operations
that could employ tOOusal¥ls of
Black people and give �m a
salable skill aoo secmity?
In � .style of an underdog
candidate, George Bush, in a
speech before the Detroit
Eooromic Qub proposed cutting
�ral employee's pay by five
. percent His proposal i.ocluded
'slicing the White House budget
by 33 percent, provided that �
Congress did the sarre to its
budget
� statm:e of the act really
rests on the fact that in 1988 �h
appointed one of his few Black
executives, Constance Newman,
to tad the Oijice of Personrel
Management to revamp the
salaries of government wodcers
and make their salaries com-
. petitve with tbose in the private
sector, to which Ms. Newman
moved to Increase � pay of top
workers by 25 percent
Blacks sbould note that the
budget cutting proposals were
labeled "pure .politics" and that
we comprise less than five per­
cent of Bush's "top" federal
worker force.
In his own tyle, Cinton's
campaign ads in severaf states
say, "I have a plan to end welfare
as we koow it - to break the
cycle of depemeocy. I know it
can work. In my state, we've
moved 17,<XXlpeople from wel­
fare rolls to payrolls."
Ellis J. Bonner, President and CEO of The Wenness Plan, Detroit, addresses of group of high school
juniors from around the country who learned about career opportunities during a four w'eek Leadership
Education and Development (LEAD) Program In Business, a summer institute designed to introduce
minority students to the wor1d of commerce and management The students, who were housed at the
University of Michigan, also toured one of The Wenness Plan's medical centers.
TAKE THE
INITIATIVE
AND YOU CAN
OWN YOUR:
OWN' HOME
Black Business Schools join to
exploit ties with southern nations
ANN ARBOR-Historicall y
Black colleges and universi ties,
which have long-standing ties with
nations in the Caribbean and Africa,
will join together in a consortium to
exploit those ties, increase research
initiatives on southern hemisphere
business issues, and aggressively
seek funding from large U.S. cor­
porations and foundations.
The consortium is a response to
world events, given the North­
South split in international politics.
The initiative was designed to tap
Black colleges' relationship with
countries of south-an area in
which traditional business schools
and U.S. managers have little back-
ground. .
There are few links to Africa and
the Caribbean in the U.S. other than
. those on historically Black cam­
puses," said Denise Thompson, as­
sistant professor of business and
engineering at Tuskegee. "If we
don't exploit the e ties, the poten­
tial for research and collaboration
between universities will remain
untapped.
"We at Tuskegee have had
strong joint programs with African
and Caribbean nations, and many
African students have gotten
degree here. Black schools have
links with areas that will be the key
to multiculturalism and internation­
tism as the United State becomes
more diverse. But this experience
has not been intergrated into our
curriculum so that our students feel
responsib le globally. "
change that.
Discussions are already under­
way with a major American
manufacturer to form an alliance
among Tuskegee, Clark Atlanta and
North Carolina A&T.· The com­
pany plans to help fund the develop­
ment of international courses at
these schools to produce global'
managers with south-oriented busi­
ness expertise.
Currently, Thompson is
developing a global interdepen­
dence and technology course for
Tuskegee, with research funds
awarded by the Peat Marwick
Foundation. The course is
scheduled for the winter term. At
Grambling State University, plans
are in the works for a new interna­
tional finance course, and a faculty
member from North Carolina A&T
is conducting research in Barbados.
Members of the new consortium
were all participants in a seminar in
curriculum development sponsored
by the Center for International
Business Education at the Univer­
si ty of Michigan School of Business
Administration. The eminar has
run for the past two summers.
"With the shift from East-West
to North-South world tensions, we
invited the hi torically Black col­
lege and universities here to put
the ball in play," said Edwin Miller,
associate dean for international af­
fairs, and instigator of the seminar.
seminar, we did some sharing on
prospects for development in both
hernsisphere," he said.
"We have been involved with
Africa since 1904, so we've had
global education for 88 years. We
went to Michigan not to be helped,
but to see how a university whose
clientele is normally Northern
Hemisphere compares with a
university whose clientele is the
Southern Hemisphere."
The consortium, which will meet
in early 1993 on the campuses if
Texas Southern University and
Prairie View A&M University, has
. several goals. They include en­
couraging research in Africa and
the Caribbean; developing an inter­
national curriculum; developing a
data base of funding opportunities;
and establi bing faculty and student
exchanges with schools in southern
. hemisphere nations. ,
Another consorti um goal is to
change the way foreign businesses
view the U.S. and its racial com­
po ition. By helping to increase the
. number of minorities working in in­
ternational companies, consortium
members hope to change the ense
among many foreigners that
minorities don't have a role in
managing American multinational
corporations.
Consortium members include:
Clark Atlanta University; North
C rolina A&T State Univer ity;
Tuskegee University;' Grambling
State University; Texas Southern
University; North Carolina Central
University; Virginia State Univer-
. sity, Central State University; and
Lincoln University.
Has buying a home or refinancing the one
you own always seemed like something
out of your reach?
. Do you ever feel like saying, "What'
the use of trying?"
Well here' an idea you'll like.
The Initiative Mortgage TM., From
First of America Bank. .
. It's a way to help people buy a home
in Detroit, Highland Park or Pontiac.
When purchasing a hom , your
down payment can b as little as 5% for a
30-year fixed rate mortgage and if you're
interested in refinanclng your existing
resld nee, we can loan you up to 80% of
the value of your home.
Either way, if your mortgage is .
$50,000 or under, we waive' our point
and the fee for application and document
preparation. Over $50,000 and we'll
waive the points on the fir t $50,000.
There' a lot more we can tell
you if you just call Fir t of America
at 1-800-735-1196.
All it take from you i a little
initiative.
BUT, THE MEDIA and
Bush's campaign staff, have dis­
covered from the Arkansas
Department of Human Services
that, "the number of people
receiving Aid to Families with
Dependant Children (AFDC)
payments rose from frl ,059 the
year Mr. Ointon first took office
in 1979 to 121,329 today, ormore
than z:1 percent"
TIle substance for many of us
in what Ointon actually wants in
his $6 billlon-a-yearwelfare plan.
He wants to limit those on weJIare
to two years on the rolls and re­
quire tbem to take a job in order
to receive benefits.
He seeks to index � mini­
mwn wage to the rate of inflation
and force the government, to
supply health' insurance, child
care and job training for welfare
recipients, and he says that wants
to lift the limits ton how much
savings a welfare family can have
aoo allow a largereerrec-lrcome
tax credit for the working poor.
If President Bush could help
Black businesspeople get small
business loans like the family
name helped son Neil Bush get
business backing to dig for oil in
Texas, that would help \S sub­
stantially.
"WE'VE NEVER done thi
before and saw it as a learning
clinic, where the Black schools
would come as partners. This pro­
gram has been a real winner."
TUSkegee School of Busine
Dean Benjamin Newhouse aid the
Southern Hemisphere is the area
where he see the greatest future
economic development. "At the
I
THE RELATIONSHIPS with
these countrie has tended to be
pragmatic in nature-teaching and
exchanging students and faculty­
and rarely resulted in systematic re­
search or curriculum development.
The proposed consortium intends to
ONE 0 ntE MIDWES'rS IIGGEST BANKS,
IUT 0 LY WHEN YOU WANT us TO I
�mbc, FDIC. bJuGl Housing urwk,.1it
ADVERTISE
a6�-0033.
See POLl,TICS 810
.. - .. - .... -- .......
I •
t .