- i
BUSINESS 'FINANCE
« .
,A REAGAN ap­
poinee aIX1 former CIA gemal
co , rond\Xled that �
OOuld have faced a trial hy � full
Sena following his impeach­
ment by the Ho of Repre­
mauves, aIX1 rot solely by a
Senate Committee.
Sporldn's 3S-page � did
oot address 18ting's guilt or in­
roeerce in � 1981 eveas that led
t> his iI¥1ictment.
The jooge rejected 18�'
argurmrt that be i a victim of
double jeopardy. The �ue for
Sporldn was treatment ofHas�
after � House voted 413 to 3 t>
impeach him.
"'Ilx: majority of the seraors
never had any firsthand
krowledge of the evidence agairst
Judge Has�. They did oot par­
ticipate in � � where tes­
timony was taken am evideIx:e
submitted. Jooge �� did oot
get a trial by the full Senale. He is
entitled to have one," Sporldn
wrote.
The unpreceden��docs
.ot cturn Hasting" who ..
Florida's first Black federal j udge,
to the Miami berch,
HASTINGS, A Howard UlW
School gradua1e � in a October 1st
primary election ruoofI for �
Democratic nomination for
Flordia's 23rd Congressional
District's seat. Prior to his "unim­
peachmeIlt," an opponent in �
Heise race, Stale Representative
Lois Frankel had made an' ue of
his integrity.
The South Florida district
rovers six counties aOO bas a
pq>u1ation that is 52 percent B�
and 45 percent white. With �
numbers of Black votelS in �
district, 18� s18n1s a good
cbaree of gaining a new profes.­
sion, '1 have m desire to be fedelal
judge. I have every dcsiJe to vin­
dicate my name aIX1 the romtitu­
tion and have history speak
correctly about Alcee 18�.
But I'm through with being a
federal judge. I want to put that
behlrd me aOO move on to other
thi�." .
�� has gained much at­
tention aOO rredia exposure in �
district, an across the nation, in
recent years for his defense of·
Miami religious leader YahWeh
Ben Yahweh.
Since Sporkin's ruling �t­
ings hac; mused that, if Ii wins both
his election am his appeal, �
could be working on Capitol Hill
if the Senate ac1S agairst on his
impeachment "Wouldn't it be
more than poetic jl5tice to win a
congressional seat and appear
before the full Senate in a trial?"
Hastings has often argued that
� was targeted becauseofhis race.
''This would rot be happening to
me if I were white," is what Hast­
iJlW; � frequently been quoted as
saying.
OTHERS SUCH AS
S\ephanie Moore, a professor at
the District of Columbia School of
Law aOO a member of Hasti�'
original defeme team, agrees that
rare played a part in the Congres­
sionalp�.
"If he'd been white it wouldn't
have happened," said Moore. "It
will still takC at least yearbefure the
matter is resolved," points out
Moore, wI:¥> also wan Blacks to
note that Hastings' � hac; an
interesting historical footnote in
that t'this was the only time a
federal official � been rerroved
from office for mic;oondlX:t. that
had not also resulted in a aiminal
ronviction by a trial jwy."
Many employers feared th
ADA would ruin their busines es
when it w pa ed by the Bush
dmini tration, id Bruce Heat­
ley, of the American Society of
Employers in Southfield, whose
organization provide hum n
I C 1 , civil ri h
complain m de by ph ically
ndment Uy ndi ppedp pie
have rem ined te dy t bout 7
percent of the to 1 civil righ
compl in m de in Michi n,
id poke man J me Horn of
th Dep rtment of Civil Righ .
The U.S. Eq I Employment
Opportunity Commis ion enfor­
ce the ADA but often defe
cases to Hom' dep rtment.
The Michigan Handicappers'
Civil Rights Law prohibited
all di crimination g inst the
handic pped ince 1976, which
Hom believe h minimized the
imp ct of the ADA
ny mploy r � T d th ADA
ould rum h IT bu in ." h Y
thought ton of h ndlcapp d
peopl auld com to th iT door,
and if th y didn't hir th m ,
they thought they would b ued. "
- Bruc H Itl
other nicely."
But Horn aid he believe
workshop and erninars are till
neces ary t educate employers
A PROFILE OF SUCCESS - Emmy Award-winning actress Ester Rolle chats with broadcasting and
banking veteran Char1es Ross during her recent visit to Atlanta Host of the nationally syndicated radio
pr:ogram "Your Personal Finance, • Ross interviewed Rolle for a segment titled ·Profiles of Success. •
Fannie Mae op n the
door .ot opponunlty
WASHINGTON, D.C.-Fannie
Mae (Federal National Mortgage
Association-FNM/NYSE) an­
nounced a new program called "Ac­
cess" to increase participation by
minority- and women-owned firms
in the markets for its securities.
"Fannie ·Mae is committed to
take every step necessary to create
new opportunities for minority-and
women-owned securities f\rms,"
said James A. Johnson, Fannie
Mae's chairman and chief executive
officer, at the annual conference of
National Association of Securities
Professionals here.
The market for Fannie Mae
securities is sizeable. Last year, the
company issued $136.9 billion ih
discount notes and $28.8 billion in
long-term and medium-term deben­
tures and notes.. It Issued another
$112.9 billion in Mortgage-Backed
Securities and $102 billion in Real
Estate Mortgage Inve tment Con­
duits (REMICs).
"As the nation's largest home
mortgage finance institution, Fan­
nie Mae must serve as a leading
agent of. change in helping our in­
dustry meet the challenge of assur­
ing diversity and opportunity in the
marketplace," Johnson said.
"THE NEW ACCESS program
provides firms owned by minorities
and women some of the. to.ols they
need to break down the existing bar­
riers to their participation in this
growing and vital marketplace."
In June, Fannie Mae began
soliciting comment from several
minority-and women-owned in­
ve tment firms to determine what
was needed to increa e their par­
ticipation in this market, Johnson
said.
The firms told Fannie Mae that
they needed support in three prin­
cipal areas: acce to issuers'
securities product; capital to cover
the risks involved in dealing in these
securitie ; and development of the
experience required to become
credible particip&Tlts in the agency
e 'ui( s mar ef�
Fannie Mae actions a nounced
last week will change its debt,
mortgage, and REMIC security
operations to enhance access.
The Access program includes
steps to expand membership in its
debt selling groups, increase par­
ticipation by minority .. and women­
owned firms as dealers for a variety
of its mortgage securities products,
and provide specialized services,
including reduction of many of Fan­
nie Mae's entry requirements, to
help the firms build market
presence.
IN HIS SPEECH, Johnson ac­
knowledged that, taken alone, ac­
cess to product will not give
minority- and women-owned firms
everything they need to grow.
"While the steps we've an­
nounced today open doors more
widely,. there remain many
obstacles that prevent minoritie
and women who own firms from
walking through them," Johnson
said in his speech. .
"Minority- and women-owned
firms tell us that lack of experienced
personnel and the lack of capital to
support full-scale sales, trading, and
research efforts still stand in their
way of emerging beyond their cur­
rent presence in the markets."
To address these challenges,
Johnson is contacting leading Wall
Street firms and other agency is­
suers to meet on how they can help
minority- and women-owned firms.
"Our ultimate goal is to help cre­
ate an entirely new securitie in­
dustry, one that include prospering
minority- and women·owned firms
that will grow to become full
partners in this country's highly ef­
ficient mortgage finance system,"
Johnson said.
. Fannie Mae, the USA's Housing
Partner, is a congressionally
chartered, shareholder-owned com­
pany nd t ('. nation' 1 �c; jtlve�-
tor in home mortgages.
hot been le ally blind
hi tee , id m t b I-
neve been cooperative nd
open 0 communication.
"They've been very open to
leamin ." h id. "And thefre
Iearnln that it ma e ood b i­
to hire the di bled­
it's ood for their profit mar
ca e W been pro ed that the
handicapped ve better fety
records, better ttendance
record nd little turnover."
H ICHIG Commi -
ion on Handic pper Concerns
wor to educate the b ine
community about the ADA.
Executive Director Pat Can-
Cannon aid providin c­
commodatio in the 0 en­
vironment i che per in the long
run, preventing the p ibility of
costly 1 w uits.
He aid mo t accommoda­
tions range from $400 to $500
and can include a telephone
amplifier for the hearing-im-
parted, a magnifying lamp for the
vi ion-impaired or a keyboard
ad ptation for someone who e
dexterity i limited.
C
ch dul
op n hou
u
An open house to celebrate a new
De rborn location for Central
Michigan University' . Extended
Degree Program is cheduled Sun­
day, October 18 from 1:00 to 4:00
p.m. at the Parklane Towers off Hub­
bard Drive and the Soutfield
Freeway.
CMU provide all the courses
needed to complete the Master of
Science in Admini tration or the
Bachelor of Science with a major in
Administration degree at seven
centers in Troy, Dearborn, Warren,
Southfield, Flint, Mt. aemens and
Uvorua. The MSA degree ott ell
concentrations in public, health er­
vices, general and human resources
adminiS'tl'ation.· Call 313/441-5300.
Ed Gray at Thur day lunch 'on
The National Thursday luncheon
group announces it's theme for the
month is "Motivation and your busi­
ness." Guest speaker for the October
22,1992 meeting will be motivation­
al speaker Ed Gray. Gray'sspeechi
enti tied S rUn ¥ •
'fhI!tMl�_M_"''''_n'
Group is an African American net-
working organization that provides
business opportunities, motivation
and information to minority business
owners, entrepreneurs and aspiring
business owners.
They meet every Thursday, from
12 to 1:30 P.M. at the Harambee
House, l�ted at 16929 Wyoming,
South Of McNichols. Lunch is
served and tfiC 'cOSt is $7.00. Contact
Qepld W. Davi" the Chairman, at
964-5433.
Artists and Crafters
ought for annual how
DETROIT - Attention sculptors,
photographers, potters and other
crafters ... Madonna University Jurled
Arts and Crafts Showcase is still
looking for exhibitors. To be held
Friday and Saturday, November 7
and 8, this annual event features over
160 artisans and craftcrs each day.
Booths and tables are available.
The show runs from 9:30am to
4:30pm both days.
For an application, please call
(313) 591-5127. Madonna
University, 36600 Schoolcraft in
Uvonia.
. Over 250 Commercial
Properties in 31 States
Up
$750 Million Valuation
NATIONAL REAL ESTATE
AUCflON
DECEMBER 1 AND 2, 1992 • FAIRMONT HOTEL • DALLAS, TExAs
HOPPING
CENTER
MIXEDU E­
OWiCElRETAtL
58 ftce Bulldinaa 69 hoppinll 17 properties In 9
In 16 tate. rnnaan Centers located In atates Includil'\l
in IIle (rom 8,500 16llates. rall8lna In affillatlona with
sq. (t. to 1,874,000 alze (rom 4,000 "I. Radl n, Marriott,
sq. (t. (eaturln : ft. to a 269.000 sq. Rodeway Inn.
• (t. all 11'\1 mall. Ramada and
DALLAS, TX - [eatunn : Holiday Inn.
NGNBCenter. • •
1. 74,000 aq. (t. ST. PETERSBURG LAKE BUENA
three bUlldl1'\l FL. A S7,000 net VISTA, FL· The
ci(1 e complex With rent ble sq. (t. Hotel Re I PIlla
50 llones,)6 t nea retail cen�r which h .. 396 dtluxe
nd stones Includea 14 Ie ble rueat-room" loclted
In the hurl 01
retpeCllvely an units, canalna an Floridl'. world
downtown 0311.. laIr (rom 630 "1. ft. (m w re'.ort Iru.
• to 23,000 sq. ft.
PHOENIX, AZ - .Itulled 15.24
One tel (our Itorv
office complex
b:'��an��"n
295, IIQ. (t.. Ite
IIU' .. 1 .1 IC.ru.
OFFICE
BUILDING
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35 propertlu In 9 3S properties In 11
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untu, (Hturil'\l: million sq. ft.,
• (HtUrire:
A 11.ANT A. OA • •
A 219 unit complex PEABODY, MA.
contalni", one and A mixed·ute
two bedroom unit&, commerc I build.
built in 1988 and ire c.onalaU,. c:I
suuated on 7.7 12,.500 aq. (t. retail,
acres. 12,.500 eq. ft. Iiaht
• Indultrlal, and a
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1 ,200 eq. fL Ip8rt· Ilaht Induatrial.
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24 ai Ie uniu & 6 HOUSTON. TX •
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It\lated on 1/. aat bu !din, ConKNCted
an a ntrallocalion. In 1985, COfUlni
S7,7SOtq. fL
34 properties In 10
ltata. inc:ludln.:
20 ptepertl In 8
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