Newspapers / The Charlotte Post (Charlotte, … / May 19, 1988, edition 1 / Page 3
Part of The Charlotte Post (Charlotte, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
"Who’s Ginnie?" He Said Thursday, May 19, 1988 - THE CHARLOTTE POST - Page 3A Recently I was giving a lecture on various government debt in struments and agencies. At the end of my presentation an elder ly man raised his hand with an obvious look of uncertainty. 'You never explained who Ginnie Mae was," he exclaimed. "Ginnie Mae sounds like the name of a Mi chael Jackson hit," another chuckled trying to disguise his confusion with a bit of humor. Well for all of you U.S. securi- 'tles enthusiasts who scratch your heads when "Glnnie's" name is mentioned, 1 thought I'd devote this week's financial cor ner to that government person ality of dubious celebrity. Government National Mortgage Association (GNMA) Certificates A Government National Mort gage Association (GNMA or "Ginnie Mae") certificate repre sents a pool of Federal Housing Administration (FH/^ and "Vete rans Administration (VA) resi dential mortgages. After certain specifications are satisfied, The Financial Comer With Marcus Butts GNMA gives Its approval to the mortgage banker, and a Ginnie Mae mortgage-backed certifi cate is then Issued. Ginnie Maes generate monthly principal and interest payments which are guaranteed by an agency of the U.S. Government. Yields compare favorably with government and other federal agency securities, or even with high grade corporate bonds. Monthly cash flow can be rein vested to obtain a higher effec tive yield than a comparable se curity with the same coupon and price. Or guaranteed monthly checks can provide relatively steady cash flow for an individu al needing regular Income. As with any bond, the value GNMA securities Increases or decreas es as prevailing Interest rates change. The minimum size of as newly- issued Ginnie Mae is $25,000, with increments of $5,000 over that amount. There is a large and active secondary market which provides ready liquidity, as well as the opportunity to buy certificates with remaining cash balances of less than $25,000. Ginnie Mae also may be pur chased through a unit Invest ment trust or a mutual fund with a minimum investment of ap proximately $1,000. If you have any questions about Ginnie Maes or other gov ernment securities, please di rect your letter to Marcus Butts, c/o The Charlotte Post, P. O. box 30144, Char-lotte, Nc 28230. Local Stocks Of Interest 5/17 5/10 52 week Volumes Dividend Sym Stock Name Exc Close Close Chg High Low Close AVQ PE Amt$ Yld% BLS Bell South NY 39.00 39.00 0.00 42.25 35.75 7409 3361 11.59 39.00 6.05 CCBF CCB Financial OTC 33.75 34.00 -0.25 35.50 32.75 0 10 9.75 34.00 3.67 CAO Carolina Freight NY 22.00 22.50 -0.50 30.63 18.00 79 382 22.45 22.50 2.45 COKE Coca Cola Botl'g OTC 31.75 31.50 0.25 31.75 20.25 102 393 0 31.50 2.77 DUK Duke Power NY 42.88 42.75 0.13 49.00 42.25 1980 4110 9.71 42.75 6.53 FDO Family Dollar NY 10.63 11.50 -0.88 14.38 8.50 453 565 12.36 11.50 3.01 FLD Fieldcrest Can NY 17.50 18.50 -1.00 24.63 14.25 134 214 0 18.50 3.89 FUNC First Union OTC 21.25 21.13 0.13 22.88 19.25 1237 2540 8.43 21.13 4.14 FW First Wachovia NY 37.25 38.00 -0.75 39.88 33.38 271 436 10.96 38.00 3.65 FDLNB Food lion OTC 12.00 12.00 0.00 13.50 10.38 745 1252 41.81 12.00 0.05 IBM IBM NY 110.13 110.88 -0.75 124.00 104.25 1.3m 9670 12.47 110.88 4.00 JP Jefferson Pilot NY 29.25 30.63 -1.38 34.50 25.75 460 381 13.15 30.63 4.38 LNCE Lance, Inc OTC 17.88 17.88 0.00 20.00 17.25 302 409 15.47 17.88 3.58 NCB NCNB NY 20.63 21.13 -0.50 22.50 17.50 1174 917 9.52 21.13 4.46 NUE Nucor NY 39.63 37.75 1.88 44.25 36.75 528 534 16.63 37.75 1.01 PNY Piedmont Gas NY 21.50 21.63 -0.13 24.50 19.13 1926 41 8.45 21.63 0.23 RJR RJR Nabisco NY 44.88 47.50 -2.63 53.50 44.00 8278 5588 9.19 47.50 4.28 RSTO Roses Stores OTC 850 850 0.00 12.25 7.75 85 56 9.94 8.50 2.47 RDK Ruddlck Corp AM laoo 19.63 -1.63 19.75 15.75 10 118 10.84 19.63 1.74 S Sears NY 34.25 35.50 -1.25 39.88 32.25 4718 5149 854 35.50 5.84 SONO Sonoco OTC 27.50 28.25 -0.75 30.00 19.50 498 515 17.79 28.25 0.55 SMI Springs Ind NY 30.25 33.50 -3.25 38.75 27.50 .44 162 9.77 33.50 0.33 SNW Stanwood AM 875 6.25 0.50 9.13 6.13 0 25 0 6.25 0.00 STN Stevens (JF) NY 67.88 68.25 -0.38 68.88 28.00 81 458 19.87 68.25 0.00 U US Air NY 31.25 33.63 -2.38 39.00 28.00 1733 2006 8.02 33.63 0.38 The Charlotte Post's [nteres it Rate Trends Type Rate Term 5/11/88 5/04/88 4/12/88 2/10/88 Prime Rate 9.00 850 8.50 8.50 Dean Witter CD 1 yr 7.75 7.55 7.55 7.00 Dean Witter CD 5yr 9.00 880 8.65 8.15 T-Bllls 3 mo 6.45 6.32 6.02 5.75 T-BlUs lyr 7.32 7.16 6.92 6.48 T-Bonds 30 yr 9.22 9.10 875 8.30 GNMA (lOyrAvgUfe) 9.94 10.12 9.83 — Financial Updates Ask The IRS, Where Is Yoxir Refund? "Where is my refund?" Is the most asked question received at the Internal Revenue Service's toll-free information number. The IRS has a solution to this question and it is available Monday through Friday from 6 a.m. to midnight for individuals with push-button telephones. By dialing 1-800-554-4477 anywhere in North Carolina, taxpayers can actually check on McDonald’s Inn Continued from page lA. coffee. As much as you can eat of all this for $5.50 for this one time affair. Persons planning to attend are required to RSVP at 393-8823. The Grand Opening will fea ture a massive balloon release when the McDonalds cut the rib bon to officially open the $3 mil lion lodge. Persons attending the Grand Opening will receive a guided tour of the facility, and upon completion of the visit they will qualify for a variety of door prizes to be given away during the luncheon. Guests will receive special cards listing the exercise spa, hotel lounge and bar, registration desk, two sleeping rooms and the execu tive suite. Their cards will be stamped as they visit each one. They are then eligible for the prizes when their filled-out cards are dropped in for the drawing. The hotel is an affiliate of the Best Western International as sociation, headquartered in Phoenix, Arizona. Other than the Best Westem/Lawyers Inn in Washington, D.C., a public rela tions spokesperson for the BWl association said she was not aware of any more black-owned Inns among the association's 1,900 afiiliates. Each Best West ern affiliate is Independently owned and operated. McDonald's Inn has been con sidered a major catalyst to spur other development along the predominantly black Beatties Ford Road corridor. "I see this hotel and my restau rant as proof that this side of town can be a good investment for business," says McDonald, "and I want my people to be proud of it and support it just as everybody else supports things in their communities." McDonald admits that Divine Inspiration influenced and guid ed him from concept to comple tion. "I always put God first and give Him the glory in all that I do, and 1 serve Him, too, when I serve others," says McDonald, a devout Christian. "I hope every body comes out to break bread with us on June 2 in this joyous celebration," he concludes. the status of their elusive tax re fund. All that is needed is the Social Security Number, filing status and amount of the ex pected refund: the computer will handle the rest. Taxpayers can find out if the tax return has been received and when to ex pect the refund. The IRS does ask the taxpayer to give the re turn a chance to be processed before calling — usually five to six weeks. HANKS for your support on May 3rd Arthur Griffin for School Board Vote Again May 31st Pull Lever #6B Paid for by the Committee to Elect Arthur Griffin PRTH0PEbl£rSAl;E$ GRAND OPENING •■^asale T 3Davs firm BEDDING O uays SETS ONLY Only! ^^50 Hurry! = FULL SIZE, QUEEN SIZE. TWIN SIZE EACH PIECE 45?? PC. 50 lA. PC. 67 EXTRA FIRM 312 COIL 15 YEAR WARRANTY 62 FULL SIZE. 49 QUEEN SIZE. EA. PC. TWIN SIZE EACH PIECE 72f? 87t? PC. 49 lA. PC. KING 1 321 SUPREME 20 YEAR WARRANTY SHOP NOWI C.O.D. wacoMEi YOUR FAMIIY BB>DING STORE 532-1)39 74 98 Bmfmsti “I Of ^to Nj ./lit Comfort free 3 days only TWIN SIZE EACH PIECE 94?; PC. QUEEN SIZE 109?; 149?; PC. I BIG SALEI C.O.D. Welcpmel Thur. FULL SIZE. KING. FrI. & Sat. 10-8 /•«'“■*"9^ CHARlOnE MATTRESS OUTLET FREE-B«d Pillows I hrm J 4IJ01. lnd»p«nd»nc* ilvd. (SlimPloiQiPhon. 532-1139 532-1139 FREE-Bed Delivery SDB Expo '88: Exposition For Disadvantaged Businesses REDSTONE ARSENAL. Ala. - SDB Expo 88, an exposition to show small disadvantaged busi nesses how to sell to the world's biggest customer — the federal government — wUl be hosted In Huntsville, Ala., on June 14 by the U.S. Army Missile Command. Under government procure ment regulations, small disad vantaged businesses are those with majority ownership by blacks, Hispanlcs and certain other ethnic minorities who may have difficulty competing in free enterprise as a result of social and economic disadvantage. Such businesses may be awarded government contracts outside regular competitive pro curement channels: in fact, many products and services are set aside for them exclusively to bid on. Congress has passed legisla tion requiring that five percent of all Defense Department con tract dollars be awarded to small disadvantaged business es. The Missile Command alone has a goal of awarding contracts worth about $200 million to small disadvantaged businesses this year. During the day-long event at Huntsville's Von Braun Civic Center, representatives of small disadvantaged businesses will have an opportunity to meet di rectly with buyers and business experts from government agen cies and also with government contractors wanting to subcon tract to small disadvantaged finns. Along with the military servic es, government agencies that will be represented include the National Aeronautics and Space Administration, Tennessee Val ley Authority, Small Business Administration and others. More than 100 exlribitors are expected to participate. Infor mation booths will showcase products and capabilities of small disadvantaged businesses and also types of goods and ser vices that government and Its contractors are interested In buydng. Government experts will be available to explain how to get on the bidder's list and give practical advice on business methods such as accounting systems, capital and cash flow. Sevei-al seminars will be held on different aspects of contracting and subcontracting. 'You Don't Have to be Big to Bid", is a theme of SDB Ehqpo 88. SDB Expo 88 is free and prior registration is not required to attend. For more information, contact the Small and Disad vantaged Business Utilization Office at the U.S. Army Missile Command, Redstone Arsenal, Ala. 35898: telephone (205) 876- 5318. MAYBE IT'S TIME YOU CONSULTED A LAWYER LAWRENCE U. DAVWSON.m Attorney at Law 1120-C Beatties Ford Rd Charlotte, N.C. 28216 APPOINTMENTS REQUESTED (704) 338-9136 SD W V 1 T1 ISf Then You Need To See Us- For All Your Eyecare Needs! CALL; 375-E-Y-E-5 Dr. Paula R. Newsome Optometrist 1028 W. 5th St., Suite B Charlotte, N.C. 28202 (704) 375-3935 I “How ID Make YOUR Home Worth More” by Mechanics and Farmers Bank C ongratulation.s. You’ve realized the dream of owning your own home. With each mortgage pay ment you’re buying a bigger piece of that dream, and building the value of your home for the future. One way you can add to that value is by making home improvements. A Simple Matter of Addition Contractors and realtors agree one of the best ways to increase the value of your home is to build an addition. So go ahead, put your fam ily's dream plans in motion. That family room, rec room or extra bed room and bath that you've always wanted is a sound investment. While you're giving yourself more room to live, you'll also be adding to the value of your home. Impress Buyers and Enjoy Yourself Real estate agents tell us that the easiest homes to sell are those with modern kitchens and baths. One local professional says. "Old ap pliances and old tile make the whole house look old and run down." A re modeled kitchen and an extra bathroom will make life easier and more comfortable for you now and may pay for themselves when you sell your house. appeal. Whether it's a prospective buyer pulling up for the first time or your parents coming to dinner, you want the front of your house to look great. A professional landscaping job, a fresh coat of paint, some shutters or a new top on the driveway wi 11 al I create a more pleasant atmosphere. SAVE ON ENERGY INSULATING EST.* COST 1st YEAR’* SAVINGS Ceiling (R-30) $ 234 $ 149 Walls (R-12) 291 272 Floor (R-19) 229 288 Storm Windows 216 115 Infiltration 79 107 Heat Ducts 82 248 TOTAL $1131 $1229 BEST BETS ON HOME IMPROVEMENTS APPROX, «/o RETURN ON IMPROVEMENT COSTS INVESTMENT Full Bath 1800*3000 90*100 3rd Bedroom 6000*8000 90*100 Garage 3000*5000 50*100 Fireplace 1000*3000 85*125 Central Air 1300*2000 70*100 Paint Ext 1000*2000 30-80 Patio or Deck 1500*2000 40*90 Remodel Kit 3500-8000 80*100 Give Your Home a View Another concern for home- o\\ ners and homebuyers is called curb ’ Based on doing the work yourself ■■ Based on an average 1350 sq ft home Make a Double Play on High Power Bills Even if you have no immediate plans to sell, making your home more energy efficient will pay off imme diately, Added insulation, storm win dows and weather stripping will cut down your usage, and your bills. Also, local utilities offer special, lower rates for homes that meet their energy ef ficiency standards. Modern appli ances and a new furnace or central air conditioning can also save you money while increasing your comfort and the market value of your home. Backyard Fun Swimming pools seem to play a role in most people's backyard fan tasies. A pool may increase the value of your home, but there are many ex citing, less expensive alternatives. (Some realtors tell us that a pool may actually "turn off" many potential buyers.) Decks, patios, tool sheds, gardens and well-kept lawns enhance the value of your property and give you a place to enjoy life. Choosing a Contractor Many home improvements can be done by the do-it-yourselfer. But others require professionals. Before you hire a contractor, talk to friends or neighbors who have made similar improvements and ask for recommen dations. Make sure anyone you hire is fully licensed, and agrees to a reasonable completion schedule. Your local Better Business Bureau will answer questions about contractors’ reputations quickly, and for free. Use Your Equity Now Home equity loans are another way to make your home worth more while you use the value you already have in your home. And no one can help you with a home equity loan better or faster than Mechanics and Farmers Bank. BORROWING AGAINST EQUITY ON YOUR HOME 80,000 Appraised Value X ,8 64.000 Less What You Still 30.000 Owe On Your House 34,000 What You Can Borrow For 80 years. Mechanics and Farmers has been serving people jti.st like you. So come in and talk to us about a home improvement or home equity loan, or mortgage today. Mechanics and Farmers Bank Sening The Community' For 80 Years Member Federal Deposit Insurance Corporation Durham • Raleigh • Charhnte • Winston-Salem t£r
The Charlotte Post (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
May 19, 1988, edition 1
3
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75