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STRICTLY BUSINESS/ The Charlotte Post
November 7,1996
McCoU honored for diversity leadership
Continued from page 7A
ulated by the leadership.”
NationsBank’s efforts have
been well-documented. The
bank established partnerships
with the NAACP to create com
munity loan programs.
NationsBank has also led the
industry in loaning money to
black businesses. In March,
NationsBank loaned $29 million
to Pepsi-Cola of Washington,
D.C., a black-owned bottling
franchise. For major companies
to develop and maintain their
competitive edge, McColl has
noted, the3^ need to do a better
job of working with communi
ties that for the most part have
been ignored.
“If our company is going to
succeed...if our coimtiy is going
to succeed, we must broaden
economic opportunity for all
Americans,” McColl said in a
speech two years ago at an
NMSDC conference. “It’s that
simple.”
Although some critics label the
corporate push to diversify prod
ucts and work force as an
attempt to satisfy predeter
mined mandates,
NationsBank’s efforts have
exceeded expectations. The
credit goes in large measime to
McColl, a Bennettsville, S.C.,
native and former Marine who
has taken NationsBank fr’om a
large regional operation to one
of the biggest beuiks in the covm-
try.
“In the case of NationsBank,
diversity is going to be especial
ly critical as it strives to become
a national bank,” Fails said.
“Diversity is good business. If
you look at it in that light, it
puts a totally different light on
it. Nobody has played a role in
this effort like Mr. McCoU.”
Not everything is perfect.
Fails said, noting that
NationsBank, like other corpo
rations, could use fine-tuning in
terms of improving diversity.
The difference, she maintains, is
that NationsBank puts forth the
effort to accomplish that.
“That’s not tO' say the bank’s
perfect, but they’re striving to
accomplish that,” she said.
Live
outside Charlotte? Call The Post toll free at
(888) 376-POST
G - L MACKINS BONDING CO.
“Serving Charlotte For Over 44 years”
Credit much too valuable for it to be given away
Continued from page 7A
give out your number as little as
possible.
Never give out your number to
anyone who calls and says
you've won a prize and asks for
your Social Security number as
identification. You can refiose to
give your Social Security num
bers to private businesses, such
as utilities or credit-card
issuers. But they, in turn, can
refuse to do business with you.
You can be legally required to
give out your number, as when
dealing with government agen
cies or financial institutions.
Balancing your business
In order to make your part-
time business a success, while
holding on to your fiiU-time job
first, discuss your plans thor
oughly with family members
and ask for their support. They
need to imderstand the amoimt
of time you will need to make a
go of it and how it will affect
your family time.
There should be a plan as to
when you expect to go from
part-time to full-time. Family
members should be involved in
the business. Having them
manage even small tasks will
make them feel a part of the
effort.
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If you run the business from
your home, use one special room
or area of the house for your
equipment or supplies, so as not
to disrupt the feel of home fife.
You and the family must under
stand that sacrifices of personal
time must be made.
LARRY & GWEN
334-9600
- or -
334-7298
Gwen & Larry Mackins
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I-8OO-352-96OI
205 N. Myers St.
HOME E Q U I T Y L I N E
Kimbro reaches out to youth
Continued from page 7A
Bob Johnson and former
Spelman College President
Johnetta B. Cole had revealed.
“Johnetta B. Cole said to me,
‘Show me someone content with
mediocrity, and I’ll show you
someone destined to fail,’”
remembered Kimbro. “It is now
time to fly.”
It was this kind of rhetoric
that seemed to have moved
Save 'The Seed mentees Carlos
Thompson and Kenneth
Simmons.
“I’m going to start with my
younger brothers by being a bet
ter example for them,”
Thompson said. “What he said
was all true,” Simmons said. “I
plan to help others by passing
along what I heard toni^t.”
Kimbro is most noted for his
1991 bestseller “Think and
Grow Rich, A Black Choice.”
The book conveys to the reader
ways to improve their personal
and financial lives. The book
has been de scribed as a power
ful guide by many, but Kimbro’s
personal appearance exceeded
the expectation of one atten
dant. Evette Thomas of Evette’s
Hair Masters Salon expressed
pleasure in hearing him.
“I feel even more motivated
afl«r hearing him,” she said. “I
believe that what he said will
assist me on my continued road
to success.”
Kimbro reminded the audi
ence that Afiican American his
tory is deep and that African
Americans are the sons and
daughters of royalty, scientists,
architects and astronomers.
“Society does not remember
the individual that is average,”
he said. “We have to make sure
the next generation is fit and
ready to run the next race.”
Kimbro ended by advising the
young men to not be afraid of
discipline and to be men of
vision. “Know who your heaven
ly father is and believe in your
self when no one else will,” he
said.
Taxes can be lightened on capital
Continued from page 7A
for $10 a share climbs to $100
a share, you don't owe Uncle
Sam a cent until you dispose
of the assets. When it comes
time to sell, calculate your
gain or loss on each individual
investment by subtracting
your adjusted cost basis from
the proceeds of the sale.
Your basis is the purchase
price of your investment, plus
commissions and other costs
you paid in association with
buying, holding, and selling
the asset. If you reinvested
dividends over the years, be
sure to include the amount of
your reinvestment in your
basis. (If you acquired your
investment as the result of a
gift or inheritance, special
rules for determining your
basis apply.) You must report
your short- and long-term cap
ital gains and losses separate
ly on Schedule D of your tax
return. If you end up with a
net loss in one category and a
CHARLOTTE
MBA PROGRAM
Wake Forest University offers an evening MBA
program in Charlotte designed for experienced
managers. Join us for an
Information Session
Wednesday, November 13
5:30 - 7:30 p.m.
(Formal remarks begin at 6:00 p.m.)
One Morrocroft Centre, Suite 150
6805 Morrison Blvd.
Information on our weekend
executive program in Winston-Salem
will also be available.
WAKE FOREST
U N I V E S I T Y
Babcock Graduate
School o/Management
For more information about Wake Forest's MBA programs,
call (704) 365-1717.
net gain in the other, you can
use the loss to offset the gain
dollar for dollar.
Overall capital losses that
exceed your gains - up to a
maximum of $3,000 in any
one year or $1,500 if you’re
married filing separately -
may be deducted from your
salary and other ordinary
income. Capital losses in
excess of $3,000 may be car
ried forward indefinitely and
deducted in future years
against capital gains and up
to $3,000 of other income each
year. On the other hand, when
net long-term capital gains
exceed net short-term capital
losses, the overall gain is sub
ject to tax at the maximum
rate of 28 percent.
Check out the
1996-97 version
of The Black
Guide
STRONG
FOUNDATIONS
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Hertz Supports Disadvantaged Business Enterprises.
(0)ertz has a strong commitment to the development
of Disadvantaged Business Enterprises (DBE’s).
0he eontributions made by these suppliers have been
of great benefit to Hertz and our eustomers alike.
{^e are proud of our efforts in seeking out such busi
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HERTZ RENT A CAR
4102 Rental Car Rd.
Charlotte, NC 28214 • 359-0114