Newspapers / The Charlotte Post (Charlotte, … / July 25, 1996, edition 1 / Page 8
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8A STRICTLY BUSINESS/ The Charlotte Post July 25, 1996 The Post launches multi-media programs Continued from page 7A new avenues of information and revenue that didn’t previously exist. The sports-oriented publi cation was put on hold to estab lish a web site and multimedia advertising programs that will be available on the Internet, in The Black Guide and The Post starting in September. of opportunities we didn’t have at first and it too will put some things on the back shelf tem porarily,” Johnson said. “But as this unfolds and we see the opportunities and directions with this, then we’ll jump back and get back in gear with the five-year plan. Hopefully, we won’t be too far ofiT track.” "The Internet provides us a lot The Post is also looking to expand its editorial base beyond Charlotte. The company, Johnson says, wants to branch out into North Carolina’s major urban areas, including Greensboro, Raleigh-Durham and Wilmington by either buy ing existing newspapers or establishing new ones. Because individual weekly publications have a more difficult time con vincing national advertisers to Mobil, OmniBank start joint venture Continued from page 7A alliance as a boon to our image in the communi ty,” he said. “It also goes a long way towards enhancing our ethnic marketing strategies. We’re all very excited about this new relation ship with Mobil and are gratified to see a msjor corporation put its money behind its commit ment when it comes to truly pursuing diversity goals and principles.” According to Bill Johnson, Mobil expects work ing closely with OmniBank to yield benefits exceeding its bottom line, as well as theirs. “Mobil plans to be the brand and the firanchise of choice in the Afiican American and Latino com munities,” he said. “Hand in hand with OmniBank, we will make this happen.” Mobil is a oil, natural gas and petrochemical company with operations in more than 120 coun tries. The company markets gasoline in 28 states and the District of Columbia through more than 8,000 branded stations. Budget for uneven cash flow Continued from page 7A are applying for a loan, especial ly a mortgage, the lender will average your income over the past two to three years. They will also want to see W-2 forms, personal tax returns plus, for business owners, corporate tax returns and financial state ments. It’s wise to apply for a loan or line of credit when business is good. But be persistent and be ready to explain the nature of your business and how you have successfully managed a variable income. Replacing fringe benefits Usually, when you leave a job behind, you also leave a benefits package. Those with fluctuating incomes, who buy their own health coverage generally get a bare-bones policy with a large deductible because it's cheaper than lull coverage. But, neglect ing disability insurance is one of the biggest mistakes self- employed people can make, since their most important asset is their income. 'The chances of your becoming disabled are greater than the chances of suffering a signifi cant loss on a house or car. Those with incomes that fluctu ate should have enough disabili ty insurance to replace 60 per cent to 70 percent of their total income. Also, it’s always wise to have enough life insurance to replace your income if you die suddenly. Retirement When you work for your'self, there's no doubt that you'll have to provide for your own retire ment. If neither you nor your Isaac Heard Jr. has been appointed by Gov. Jim Hunt to the North Carolina Rail Council. The 18-member council advises the governor, secre tary of transportation and General Assembly on ways to improve the state’s rail sys tem. 'The governor appoints 14 members to serve two-year terms. Heard is executive director of the Northwest Corridor Community Development Corp. He serves on the board of directors of the Foundation On the move For the Carolines, Charlotte- Mecklenburg Planning Commission and Mecklenburg Board of Elections. •Rev. Conrad Pridgen has been appointed to the N.C. Education Assistance Authority. Pridgen is pastor of Greater Bethel AME Church in Charlotte. He is a member of the Interfaith Advisory Council, Pan Methodist Coalition Against Drug Abuse and the N.C. Council of Churches. He also serves as Kids can leam about finance Continued from page 8A tion. Several mutual fimd com panies offer funds targeted to children, investing in companies that make products kids know — like McDonald’s, Coca-Cola or Disney. Some funds even offer educational materials for young investors. Look for a fund with a low minimum for addi tional deposits to make it easy for children to use birthday and holiday gift money to purchase additional fund shares. Also consider growth-oriented funds, so your child won’t have to be concerned about pa3nng taxes on dividends. Tty for stocks While mutual funds come with their own set of advantages, investing in the stock market can help your child to leam how businesses operate and how shares of a company grow in value when people lilm and buy the company's products and ser vices. The companies that make computers your children use or the movies they watch or the sneakers they wear are all good candidates for your child's first investment experience. Well- known, high-profile stocks are easy to track throu^ the media and also give your children the opportunity to see how world events and trends affect the company's earnings and stock prices. Before your children actually invest their cold hard cash, make sure they under stand the concept of risk and how it relates to investing. Then, spend a few weeks follow ing the company in the newspa pers’ stock quotations as your children get accustomed to how prices can fluctuate daily. You might encourage your children to go to the public library to research companies that inter est them. Value Line Investment Survey, which gives analysts’ reports for all companies traded on the stock exchanges, and reports from Standard and Poor and from Moody’s, are good places to start. You’ll also want to obtain copies of the compa ny's annual report. When you feel your child is ready to invest, comparison shop among full ser vice and discount brokers. Keep in mind that as minors, children caimot purchase or own stocks themselves. However, you can purchase the shares for them and deposit the shares in a custodial account — but be. sure to let them monitor their invest ments. Once your young investor starts earning invest ment income, you both need to imderstand how children’s eam- Put your busi ness in the streets. The Charlotte Post’s Strictly Business section highlights entrepreneurship and finance in a way no other media can. Call today to subscribe! 376-0496 buy space, regional newspaper groups have a better chance with the one-buy-for-all policy. “Our focus is to be in the North Carolina greater buy spouse participates in an employer-provided pension plan or 401(k) retirement plan, you can put away a tax-deductible $2,000 each year into an indi vidual retirement account. A simplified employee pension or Keogh plan lets you stash away more in tax deductible retire ment savings. The self-employed must also be prepared to meet the tax man. Many also forget that they have to also pay the full 15.3 percent for Social Security and Medicare tax. It’s best to esti mate tax payments each quar ter and withhold a percentage of each check for taxes, since peo ple tend to underestimate the tax. Charles Ross is host of the nationally syndicated radio show, “Your Personal Finance,” and author of “Your CommonSense Guide to Personal Financial Planning.” chairman of the NAACP’s Labor and Industry Committee. • Attorney T. Michael Todd received a Golden Heritage plaque for his contributions to the NAACP. Todd made a $1,000 gift to the civil rights organization during its national convention in Charlotte last week. Send your business notes to The Charlotte Post via fax at 376-0496. Include a daytime phone number. ings are taxed. Until the year a child reaches age 14, the first $650 of income in his or her own name is tax-fi^, and the next $650 is taxed at the child's rate, usually 15 percent. Income above that amount is taxed at the parents’ top marginal rate until the year the child becomes 14, at which time all income is taxed at the child’s rate. Euea,” Johnson said. “With those four spots, we would be the best buy in the neighborhood as it relates to black publications.” “Our premium packages is a chance for advertisers to buy into all of our markets,” Johnson said. “We think this is a great opportunity to get expo sure for any and eveiybody out First Union mortgage programs By Herbert L. White THE CHARLOTTE POST First Union has introduced two new mortgage loans to increase home ownership among low- and moderate- income families in the eastern U.S. The programs - the Neighborhood Development Mortgage and the Community Partnership Mortgage — are intended to increase the options available to families paying rent, but unable to finance a traditional mort gage. “These families - hard-work ing and reliable - have not had the opportunity to become home owners because their financial circumstances did not fit the parameters of trad- tional mortgage loans,” said Jane Henderson, First Union’s corporate community reinvest ment director. “Our goal is to change the dynamics of this institution - to create oppor tunities for underserved fami lies to purchase homes of their own. Whether a family can afford a $1,000 down payment or no payment at all, we want to offer that family the financ ing option that best meets its needs.” Both mortgages are avail- abel to families with incomes of 80 percent or less of the median household mark in their area according to the Census Bureau. The Neighborhood Development Mortgeige features below-mar- ket interest rates, choice of repayment periods and a down payment of 5 percent, 3 of which must come from the borrower’s own funds. There is no maximum or minimum loan size, but the home must be located in low- or moder ate-income areas as defined by the Census Bureau. The Community Partnership Mortgage features loan amounts of up to 100 percent of the home’s value; no down payment and only $500 of the boirower’s own funds needed at closing and a waiver of mortgage insurance. The new loans are an addi- ton to existing First Union programs for low-income bor rowers - the Affordable Home Mortgage Loan and the Agency Mortgage. They are from Connecticut to Florida, available in 12 eastern states os well as Washington, D.C. in which the bank has offices. Visit The Charlotte Post in cyberspace. Our address is: http://www.thepost.mindspring.com C. RAMSEUR UNLIMITED BAIL Bond Services Convenient Courteous Confidential 24 HOUR SERVICE Cal Ramseui^Professional Bondsman 513-4848 Pager Andumy Hadey Certified Bondsman 354-7361 Pager Linda Ltamseur WUUams Certified Bondsman 379-8017 Pager Serving North & South Carolina State & Federal CO) 704-567-0083 Shelby N.C. CTO^3484-8460 Todd, Parham & Harris ATTORNEYS - AT - LAW Auto Accidents Personal Injury Industrial Accidents “ General Litigation Head/Spinal Injury Workers Compensation Wills • DWI/Trafpic Criminal • Real Estate Social Security T. Michael Todd (Former District Court Jndge) C704)343-9700 • Free CoNSULTATm * Evening A Saturday AppomwENTS • 301 S. McDowell Street, Suite 130 V>Je'd like to say a few words about Home Federal Savings . . . SAFE. SOUND. SECURE. Thank you. CHARLOTTE: Uptown, SouthPark, Sharon Road: Mortgage Loan Office. Eastland, Carmel Road (near Hwy. 51), Park Road, Cotswold, University Place. NORTH MECKLENBURG: 1-77 & Hwy. 73. Telephone 373-0400. Equal Housing Lender. FDIC Insured. ARE VOU YIELDING The Most Competitive Return? Review Your Current Benefit Package, Tax Changes ^ & Whats Available In Todays Market Place. EXECUTIVE BENEFIT PROFILES • Government Bond Funds • Health Insurance Programs • Tax-Deferred Investments ’ Municipal Bonds • Estate Planning • Mutual Funds • RELPS • IRA's, SEP's, & PENSIONS A1 Grier, C.L.U. Chartered Financial Consultant Registered Representative Equitable Life Assurance Co. New York, New York A1 Grier and Associates 6100 Fairview Road, Suite 200 • Charlotte, N.C. 28210 Equico Securities New York, New York (704)556-9988
The Charlotte Post (Charlotte, N.C.)
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July 25, 1996, edition 1
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