pi
7A
STRICTLY BUSINESS/The Charlotte Post
January 18, 1996
Minorities said not getting fair
share of Super Bowl contracts
THK ASSOCIATED PRESS
PHOENIX - A minority-
rights organization is looking
into allegations that blacks
aren't getting a fair share of
the contracts being generated
by the Super Bowl that will be
played in Tempe on Jan. 28.
Super Bowl officials denied
the accusation, but some
minorities working with the
Super Bowl host committee
said there was some truth in
it.
Martin Samaniego, vice
president for business devel
opment for the host commit
tee, said minority firms had
been awarded 10 percent of
about $450,000 worth of con
tracts through November
1995. About half of those
minority firms were black-
owned.
He also said minority firms
make up about 25 percent of
the 1,200 Arizona businesses
that applied for Super Bowl
contracts.
Charles Ferrell, director of
the National Rainbow
Coalition's Commission on
Fairness in Athletics, said his
office has received complains
from blacks who believe they
were being shut out. He said
the commission would look
into the matter.
Jim Steeg, executive director
for special events for the
National Football League,
said the NFL is spending
about $20 million on the game
but tbat he didn't know how
much was going to minority
contractors.
“We aggressively went out
to identify contractors, and we
put the bids out that we had,"
Steeg said. "There were some
minorities who got contracts
on the things that we did."
In some cases, host commit
tee members said, minority
contractors' bids were too
high, and in other cases, the
committee couldn't find
minority-owned businesses for
the work.
The committee is contracting
for a wide variety of services
for Super Bowl 5CXX, ranging
from printing to public rela
tions.
Samaniego said, “We want
to do the best we can,"
Samaniego said. “Ten percent
is good, but not good enough.
About 30 percent of the state's
population is minority."
About 3 percent of the state's
population is African
Americsm.
Valley black businessmen
said the small number of
minority contractors involved
is particularly disturbing
because of the controversy
that once kept the game from
being held in Arizona.
When , Arizona failed to
observe the Rev. Martin
Luther King Jr.'s birthday as
a p£ud state holiday, the 1993
Super Bowl was moved and
various groups canceled 166
conventions in the Phoenix
area worth as much as $200
million.
Arizona now has a paid state
holiday honoring King.
We aggressively went out
to identify contractors,
and we put the bids out
that we had...There were
some minorities who
got contracts on the
things that we did.
-Jim Steeg, executive director for spe
cial events for the National Football League
Taxes
for a W-4 form. Using the
amount you owe for 1995 as a
guide, estimate how much
additional money you should
The IRS provides informa
tion on what is eligible or not
liability. Many hank.s offer
investment products and ser
vices. that may fit your needs
For your particular situation,
you may want to con.siilt your
tax adviser or call the IliS at
(800) TAX-1040.
Finally, avoid the tempta
tion 1» take out a loan against
your anticipated refund.
”111680 loans are made against
the amount of money you are
estimated to receive from the
government. The rates and
fees on these loans far out
weigh the benefit of an early
return.' '' ''
GREGORY HETTRICK
worka in NationsBank’s
■ Community ^ Investment
Foster’s stance may push black journalists’ group out
THE ASSOCIATED PRESS
NEW ORLEANS - A black
journalists' group is consider
ing holding its convention in
2000 somewhere else because
of Gov. Mike Foster's order to
end affirmative action j>rn.
grams.
"We had been extremely
interested in bringing our
3,000 members and the enor
mous economic impact of our
convention to this great city,"
Arthur Fennell, president of
the National Association of
Black Journalists, said at a
news conference Saturday.
“But now we must strongly
and seriously question
whether our members will
want to spend their time and
money in a state whose gover
nor has so little regard for
affirmative action and equal
opportunities."
Foster announced Thursday
that he had signed an order to
end programs that give prefer
ential treatment to minorities
and women in hiring and that
set aside a portion of govern
ment contracts for minority-
owned businesses.
“This act has the potential to
set back employment gains for
people of color and women in
Louisiana. ... This kind of
political posturing also sets a
tone that could derail efforts
to diversify other areas,
including the news media,"
Fennell said.
Fennell, an anchorman at
WCAU-TV in Philadelphia,
and other association board
members arrived the same
day as Foster's announcement
to study New Orleans as a site
for the convention in four
years.
The Louisiana Legislature
would have to endorse
Foster's move, since the set-
aside programs are part of
state law. Of 144 lawmakers,
31 are black and 14 are
women.
Louisiana, which is about' 33
percent black, did nearly $28
million in business with
minority small companies last
year, out of the executive
branch's $7.4 billion budget.
Only $2.2 million of that was
due to minority set-aside pro
grams, the Department of
Economic Development
reported.
Insurance policies ownership key
She
gives
everyone a
chance...
so should you.
Housing discrimination goes against
everything this country stands for.
It’s against the law, yet it occurs all
across the nation. You can help
protect everyone’s right to live in the
neighborhood of their choice.
Everyone deserves a fair chance to own a
home. If you suspect unfair lending,
insurance or housing practices, contact
HUD or your local Fair Housing Center.
EQUAL HOUSING
OPPORTUNITY
FAIR HOUSING IS THE LAW!
U.S. Department of Housing and Urban Development
1-800-669-9777‘TDD 1-800-927-9275
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Attention Book Clubs, Purchase Your Books At
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Kings Court At 901 South Kings Drive • Charlotte • 344-9695
(By The Melting Pot & Mama Ricotta's Restaurants)
Open Mon. - Sat. 10:00am - 7:00pm » Sun. 1pm - 6pm
Continued from page 6A
A trust can be set up to pro
vide ^steady income to a benefi
ciary, and it can ensure that
your beneficiaries cannot tap
the proceeds without the
trustee's permission.
However, for the trust's assets
to be non-taxable, it must be
irrevocable, meaning you can't
change your mind once the
policy is in trust.
Tax laws vary from state to
state,j so consult a lawyer
before making any changes in
your policy ownership.
One-stop shopping for
credit reports
Since 1961, a California-
based company, Credco Inc.,
has been selling credit infor
mation to businesses. Now,
you can buy a credit report
from Credco which combines
the files kept on you at
Equifax, Trans Union and
TRW, the three major U.S.
credit bureaus.
The report has an easier-to-
read layout, without the
abbreviations used by the
major bureaus. The cost is $24
for a report, but you may have
to buy a second one to see if
any corrections you requested
were made.
Any errors in the report can
not be corrected by Credco.
You'll have to contact the
bureaus individually.
Credco recommends check
ing your credit reports for
accuracy every few years or
before you apply for a big
loan. For more information,
call Credco at 800-443-9342.
CHARLES ROSS is host of
the nationally syndicated
radio program, 'Your Personal
Finance," and author of Your
CommonSense Guide to
Personal Financial Planning.
Organize papers and checks
Continued from page 6A
notice. When you sell, you'll
need accurate records of the
prices at which you brought
those reinvested dividend
shares to determine your tax
able gain or loss.
Your home improvement
costs
Create a file for bills and
canceled checks that contains
the invoices from any
improvements you made to
your home. When you sell, you
can reduce the tax due on
your profit by adding the cost
of permanent home improve
ments, such as those incurred
to update kitchens or bath
rooms, to your home's base
costs.
Your canceled checks
Most people file their can
celed checks by date or check
number. Here's another alter
native. After you balance your
monthly statement, separate
your checks according to pur
pose. File all the home
improvement checks separate
ly and do the same with other
tax-related checks, such as
medical expenses, charitable
contributions and business
expenses. Keep checks that
support your tax returns for
six years. It's also wise to hold
onto your bank books for six
years—in the event of an
audit, the IRS may want to
review them to examine the
sources of your deposits.
Generally, many non-tax-
related checks can be tossed
after a year of two.
Receipts for valuables
File receipts for big-ticket
purchases, such as jewelry
and antiques. You may need
them as proof of value in the
event they are lost or stolen
and you need to file an insur
ance claim.
Your file storage
Your current financial files
should be kept where it's easy
and convenient to work with
them. CPAs say papers that
are either valuable or difficult
to replace—like securities and
deeds—are best kept in safe
deposit box or fireproof home
safe. But before placing your
will, life insurance policies or
cemetery deed in a safe
deposit box, check your state
laws. Some states seal the box
upon the owner's death, which
makes it difficult, if not
impossible, to retrieve those
documents. To learn more
about recordkeeping, send a
self-addressed, stamped enve
lope to the North Carolina
Association of CPAs.
MONEY MANAGEMENT is
a weekly column on personal
finance prepared and distrib
uted by the North Carolina
Association of Certified Public
Accountants.
justness
Call one of our professional representatives to help
market your business, profession or event in the publi
cation that produces results and keeps you in touch.
• StrictlyBusiness, Designed to Profile Minorities in Business and
Minorities Successful Within Majority Corporations.
• Healthy Body/Healthy Mind, Designed to Keep You Abreast of
Current Health Issues, Concerns and Preventions.
• The Post, Designed and Dedicated to the concerns of
the Black Community. FRAN FARRER
Advertising & Marketing Director & General Sales
Call: (704) 376-0496 or Fax: (704) 342-2160
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Prime Spots Still
Available
In The
1996
BLACK GUIDE
CALL TODAY!
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& Account Executive
February Is
Black History
Month
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Your Business!