Hot Stock - Utilities
CHARLE
ROSS
If you're looking or a ure thi In mv tmen ,that" going to be
hard to find. But, one investment ea that has b n previously over­
looked i now drawin a lot f int t. Utility t ks. T Y perform
better and ar g tting more r pect in tim wh re int r t rat are
'-'1ImJ2llJJog..a.oo i nfl at i n i d w n.
The avera e electric utility tock yield 6. percent, ant that look
attractive when CD' and money marke are bringing not much more
than 3 percent. Some recent Utility yields include Dominion Resourc
t 6.3 %, Southern California Edison at 6.4% and Florida Power and
Light at 7%.
'Inve tors who want to in rease their holding can yep the brokers
commi ionafterth initial pur hasewith Dividend Reinvestment Plans
offered by me utility comp nies,
Legal Issues' for Small Businesses
If you've recently' tarted your own busines ,or if you are thinking
about it, there are some legal issues to consider.
If you plan to work out of your home you're wi e to check local
zoning regulations first. Some areas do not allow home busines es at all.
while others have regulations regardi ng ignage or the number of people
who will come in and out of your property during busines hours.
Also find out if your homeowners insurance will cover you if you
operate a busines from the house. You could face real problems if
someone is injured while in your home on busin
Many jurisdiction require a business license thou h many entrepre­
neurs who work at home by-pass thi requirement. If your business
involves the selling of goods, you will need a seller' permit. Regula­
tions will vary from city to city.
New Product - Monthly Money
Teaching kids to be respon ible with money i one of the biggest
assignment a parent will have. It' called "Monthly Money".
Monthly Money i a practi I, educational tool for parents to tea h
kids aged 6 to 18 how to manage their money. The kit ntains five cash
pockets and i de igned to help kids bud et for aving charity, gifts,
clothing and spending money. The Parent' manual explains how to help
the, child plan a budget on ru or her current allowance ... no deficit
spendi ng allowed. The y tern r qui re antra t betw n parent and
child drawn up to outline the child' r ponsibilines around the h e
and to help your child make ch ic about pendin .
Monthly Money i available by callin 1-800- 47-4848
Charles Ros is host of the nationally yndicated radio show "Your
Personal Finance, and author of The Be t of Your Per onal Finance.
Black di trict.
under high
court review
WA HI GTON,D - North Caro­
lina' predominantly Black 12th
Congre ionalDi trict was drawn up
specifically to increase the likeli­
hood that a Black would be elected to
the U.S. Congress.
State authorities drew up the di -
trict under a federal court order based
on the 1990 census. But in April th
entire legal concept of drawing up
uch districts w challenged in the
����UP�I.���.� _
The lawyer for five North Caro­
lina whites argued "the, constitution
i suppo e to be color blind."
Robinson Everett also uggested
that uch di trict discrrmi nate
agairst whites.
Previously (in a 1977 case), the
high court ruled that such di tricts
could be drawn up inorderto comply
with the Voting Rights Act. But, now
the Supreme Court is more conserva­
tive and orne ob ervers believe it
may reverse itself.
Before redistricting, North Caro­
hila had never elected 'a Black to
Congr but after the map was re­
drawn two Black were elected.
Overall, the number of Black and
Hispanic congre sional di trict
throughout the nation doubled be­
cause of such redi tricting.
MOVE survivor
critical of F I
assault
PHILADEPIIlA, PA - Ramona
Johnson Africa-the only adult to
survive the 19 5 police as ault on the
Black cult MOVE-<harged re­
cently that the FBI was ''wrong'' to
attack the Branch Davidians' com­
pound of cult leader David Koresh.
Option to Foreclosures
So you find yours If with a house you bought in the Os at the height
of th housing boom, But now value have dropped and you're paying
such a high price that your equity may be gone. Ther may a way out
of what orne are calling the "house trap",
Som home ners are opting to tum the property b k to th
mortgage hold r. But a formal foreclo ure do hav it' price - a bad
credit rating.
Now, since lenders are themselves in troubl ,and since foreclo ures
can be costly, many lenders are willing to work with a homeowner,
accepting the title and key but not taking the Ioreclo ure route. The
owner, of course 10 es his equity but protect his credit rating.
Another 0 tion may b to rent your home and live el ewhere. But
yo ig 0 of pocket for the difference betw n w y
e am tom gage pay ent.
•
OJ
any
00
•
I
community. The truggle for eco­
n mic equity i one of th 1 t run
on the ladder f the civil ri h strug-
lc." Dr. Hoo aid.
. "The relati nship Will al 0 allow
me t pursue my oth r po t-NAACP
interests which include more time
pent in my mini try, the as umption
of a chair named in my honor at Fi k
Unive tty, the writing of a book and
perhap orne articl ,and a whole
ho t of other activitie ," he added.
o tranger to the busines world,
Dr. Hooks wa a co-founder and
vice-pre ident of Mutual Federal
Saving and Loan A ociation of
Memphi or 1 years.
H was al 0 on of th first Afri­
can Americans tenter franchi ing
when he joined in a partnership with
the late 0 p 1 in er, Mahalia Ja k-
on, 10 a chicken Iranchi ing busi-
n
Unanimously elected in 1977
th executive dir tor of the nation'
ld t and larg t civil right or ani-
zation, Dr. Hooks has retired from
that po t after compili ng an outstand­
i ng record in civil and human rights.
In hi po ition with the Chapman
mpany, Dr. Hooks' r ponsibili­
ti will include istanc in the co­
ordination of the national expansion
of th firm in each of its different
busines areas, including public fi­
nance, corporate finance, brokerage
and tradin, investment manage­
ment, and mutual fund management.
In addition to his national r pon­
ibilities, Dr. Hooks will coordinate
the e tablishment of Chapman' .
Memphi ,Tenn ee branch 0, ic .
The Chapman Company i a
leader among minority- wned firms
ineachofit diff r nt br in areas:
the fi t minority- wned inve tment
ankin firm to begin a mutual fund
family, the Chapman Fund. Recently
the hapman U.S. Treasury Fund
earned a "AAA" ratin rom Stand­
ard and Po r' .
Dr. Benjami n L. Hooks, the reti r­
ing executive director/ EO 0 the
NAACP, has n named a enior
vice president of the Chapman Com-
_ pany, a Balnmore-b ed, rni nority
controlled inve tment bankm firm,
with office in Birmingham.Chi­
cago, DaB , and Kansas City.
• The announcement wa made
April 14, by Nathan A Chapman, Jr.,
president of the firm who aid:
"We are delighted to have Dr.
Hooks on board with the Chapman
Company. Given the large number of
companies that Dr. Hooks could have
helped with his pr eric, hi deci-
ion to work with a min rity wned
company peaks well to lu personal
commitment and to the advancement
of minority-ow ned firms In Amer­
ica."
"Through this n w relation hip
with Chapman Company I will be
able'to continue my Ii elong commit­
ment to fo teri ng econorni develop­
ment in the African-Ameri an
ent.
BEST CHANCE:
M tch
MAY 1,1993
Lotto Tick
Entrepreneur hip is nothing new in the Black Community.
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You are needed for the
h
I
n
anclp ion
Jun 18, 1 ,20, .1---------
. Ah-Nab-A-Wen Park Grand Rapids, MI
If you sell food, t-, hirts, crafts, or ethnic item
Please contact the Cultural Heritage Committee
@4-H Learning Center
1331 Franklin SE, Grand Rapids, MI49506
616-452-4801 or 456-5900