CFje CI)arlotte
THURSDAY, May 9, 1996
Cut cost
of car
insurance
CHARLES ROSS
Your
Personal
Finance
Americans have become so
savvy about shopping for auto
insurance that insurers are
actually reducing premiums
nationwide. But today's aver
age annual premium is still
$800, so consumers are look
ing for ways to shave the cost
wherever possible.
To find the least expensive
insurer, call your state insur
ance department for a free
listing of insurers by price.
After selecting the best rates,
check their financial health in
the A.M. Best rating guide at
the library.
Raising your deductible can
cut your collision premium by
fifteen to thirty percent. If
your car is more than five
years old, consider canceling
collision coverage altogether.
Another important tip: be
sure you buy only the insur
ance you really need.
Other ways to cut your car
insurance costs that you may
not know about: Check out
commission-free insurers.
This can cut as much as 5 to
15 percent off your premium.
Look for direct writers. They
don't charge commissions
because they sell directly to
consumers over the phone.
Another possibility is dis
counts. You probably already
know that you can get a dis
count for air bags and anti
theft devices. But you also
may qualify for lower rates if
you are over 50, take a safe
driving course, or have a dri
ving-age kid with a school
average of B or better.
If you belong to a profession
al or trade organization or an
auto club, ask about a mem
ber discount. You may be able
to save five to ten percent on
auto insurance premiums.
Your spouse's flnances
In many marriages, one
partner takes over financial
affairs for the couple, leaving
the other partner more or less
in the dark. However, married
couples who file income taxes
jointly are each fully responsi
ble for any errors or inaccura
cies on their returns, no mat
ter who completes the forms.
If your spouse can't or won't
pay any penalties or taxes
due, you are responsible for
the whole amount, not just
half as you might expect. The
IRS does permit an “innocent
spouse” defense, but most peo
ple can't adequately prove
that they had no knowledge of
the error or underpayment.
To protect yourself, ask your
spouse to go over anything
that looks doubtful, and never
let your spouse sign the form
for you. If you have serious
doubts, file separately.
Credit card debt
If you and your spouse hold
credit card accounts jointly,
See CREDIT on page 8A
STRICTLY BUSINESS
Young Pioneer Take this job
PHOTO/PEP^KJOLA
Former Commerce Secretary Ron Brown (second from left} appeared in this 1949 Pepsi ad.
Former Commerce Secretary was a pioneer in
advertising with appearance in 1949 Pepsi ad
By Herbert L. White
THK CHAHLom' msT
Former Commerce
Secretary Ron Brown is
romembertid as a political
pioneer, but he also snade
adveriising hi.-'tnry.
Brown, who was killt*d in a
plane crash last month over
Bo«nia, wa« featured in one
of the first black-oriented
advertisements for a major
“It was an ad about Pepsi, sure, but
it was about so much more/’
Maurice Cox., Pepsi vice president
diversity. “It made you
think, whoever you are, in
this country you could reach
dream just like that little
boy Ron portrayed was
Brown appeared in a 1949
Pepsi-Cela Co. ad as a 7-
year-old. which featured an
African American family at
home enjoying the soft
drink. Brown is in the fore
ground reaching for a carton
of Pepsi in an ad that was
used as a display piece in
store .sen'ing black neighbor
hoods in the 1950s.
"It was an ad about Pepsi,
sure, but it was about so
much more, said Maurice
Cox, Pepsi’s vice presidetn of
corporate development and
Ed Boyd, a former National
Urban League housing offi
cial and one of Pepsi’s first
black marketing specialists,
headed the team that con
ceived the ad. In pre-civil
new ground in corporate
targeting
“It was a landmark in mar
keting because up until then
I don’t think advertisers
to American consumers,” he
said. “The ad turned out to be
the first national point of stde
advertisement featuring
blacks ever done by Pepsi, or
any other company."
As an adult, Brown made his
mark as the first African
American to be named chair
man of the Democratic Party,
where he helped engineer Bill
Clinton’s succe.s.sful presiden
tial campaign in 1992. He also
was credited with opening
door.s to previously-closed
European and African mar
kets to U.S. businesses. His
last trip, to the former
Yugoslavia, resulted in the
crash that killed him and 32
military personnel and busi
ness leader.'!.
and love it
THE ASSOCIATED PRESS
BOSTON - Most U.S. workers are satisfied with their jobs, and
few worry about losing them, according to a survey sponsored by
Inc. magazine.
The Gallup study of 803 adults who work at least 30 hours a
week also found that those working in small businesses of 50 or
fewer employees were more satisfied overall than employees in
larger companies.
While many workers are pessimistic about the state of the econ
omy, most feel surprisingly good about their own jobs, according
to the survey, which will be published in the May 15 issue of Inc.
Some of the key findings about worker attitudes were:
• 71 percent said they were satisfied with their jobs;
• 90 percent said they were not worried about losing their jobs;
• 69 percent said they were paid fairly last year;
• 82 percent are able to “do what they do best” every day;
• 72 percent said someone at work encourages their develop
ment;
• 84 percent had opportunities to learn and develop in the past
year;
• 70 percent said management does its best to make the compa
ny a great place to work;
• 88 percent do not worry about their jobs becoming obsolete
due to technology.
A related survey found American workers were given more
praise and recognition for good work than their counterparts in
Canada, Germany and Japan.
The surveys were conducted last November.
Business Today
Troy Watson named to
National Chamber board
Charlotte Metro Black
Chamber of Commerce
founder Troy Watson has been
named to the National Black
Chamber of Commerce's board
of directors.
Watson is
one of nine
new board
members,
which repre
sents 25,000
black-owned
businesses
across the
U.S.
Watson has
managed
Business
Development Center contracts
for the U.S. Department of
Commerce and is active in
community development pro
jects in North Carolina.
Other notables appointed to
the board include:
- Arthur Fletcher, who is
known as the "father of affir-
Watson
Minority
mative action" because he was
a principal in the writing of
federal laws as Deputy
Secretary of Labor during the
Nixon administration.
Fletcher also served on the
U.S. Commission on Civil
Rights and ran for the
Republican nomination for
president
briefly. He
withdrew
when anti
affirmative
action candi
date Gov.
Pete Wilson
of California
dropped out.
Fletcher
owns a con- Fletcher
suiting firm
in Washington, D.C.
- Joshua Smith, president
and chief executive officer of
Maxima Corp., who presided
See BUSINESS on page 8A
M
Some smart ways to
save for a new home
By Amanda S. Dancbi
SPECIAL TO THE POST
Chances are, if you're look
ing to buy a house, you have a
mental image of the type of
home you want. But do you
have a clear picture of how
you plan to pay for it?
Failing to devise and follow
a smart savings strategy is
one of the biggest impedi
ments to home ownership.
The North Carolina
Association of CPAs says that
people who want to buy a
home need to take a long,
hard look at their financial
situation, determine what
they can realistically afford,
and then develop and stick to
a savings plan to accumulate
the necessary down payment
and closing costs.
If you're like most prospec
tive home buyers, you'll need
one to five years to save
enough money. However,
you'll want to do more than
keep your money in a typical
passbook savings account.
Here are some investment
strategies that CPAs suggest:
• Treasury Notes. One of the
safest investments, “trea-
See SAVE page 8A
BUSINESS TO BUSINESS