SALUHNB TWiBLACK FAMILY - AHBAI and Hit Jack Eckard Corporation eo
2““^* Tl BKek Fanny to kaaoflt the United Negro College Fund.
Pictured from loft are Eckert Senior Buyer Dick Hakel; AHBAI Executive Director
M Duncan Janes; AHMI Chairman Nathaniel Branner, Jr ■
Company PrasManl Hany Lambert; Eckert vice President
Communications, Kan Banks.
Ecksrd Drug
of Marketing
How to Leave
A Bigger Nest Egg
By Herb Vest
(NU) — Everybody knows
you can’t take it with you. But most
people assume you can leave it to
your children.
Often, they’re wrong. In fact,
the bigger your accumulated
retirement savings, the greater the
chance that a hefty chunk of it will
expire when you do — unless you
take steps to prevent it.
The reason: There’s a 15 per
cent federal tax on “excess assets”
that are left in qualified retirement
plans when their owner dies.
This tax bite can be greatly
reduced by good estate planning.
“This tax didn’t exist before the
Tax Reform Act of 1986,” explains
Michael Perkins, president of H.D.
Vest Insurance Services. “And, it
doesn't affect everybody. It’s
mainly a problem for professionals,
corporate executives and small
business owners — people who
over the years have accumulated
assets of $1 million in qualified
retirement plans, such as Individual
Retirement Accounts, Keoehs,
profit-sharing or pension plans.
The 15 percent excise tax
applies to any amount over what it
would take to buy an annuity pay
ing $150,000 a year for the rest of
the policyholder’s life. Take the
case of a 65-year-old man who at
Tyson Donating
2,000 Turkeys
INDIANAPOLIS, Ind. (API
Some 2,000 turkeys provided by
former heavyweight champion Mike
Tyeon and his promoter were
handed out to inner-city familieein a
Christmas food giveaway.
Last Wednesday’s charity
sparked questions in the Marion
County prosecutor’s office, however.
“It is a striking coincidence that
Tyson would give away turkeys in
Indianapolis just 30 days before a
trial," said Gregory J. Garrison, a
special deputy prosecutor who will
head the team at Tyson’s rape trial
scheduled to begin Jan. 27,1992.
Marion County Prosecutor Jeffrey
Modisett said,“I think it is transpar
ently obvious” why Tyson and Don
King donated the turkeys. “I am
sura the people of Marion County
are wise enough to see through this."
Organizers of the food program
denied the trial had anything to do
with the turkey donation, noting
that neither Tyson nor King came in
person to give out the poultry.
"That is ridiculous,” said A1
Hobbs, vice president of WTLC-FM
radio, one of the sponsors of the We
Can Peed the Hungry Program.
“To suggest that a juror woul d vote
not guilty just because Tyson bought
their cousin a turkey is silly.”
Charges against Tyson came dur
ing his appearance at the Indiana
Black Expo last summer, when a
contestant in the Miss Black Amer
ica pageant alleged the boxer lured
her to his hotel room and raped her.
Hobbs said Indiana Black Expo,
primary sponsor of the program,
accepted $17,000 from King and
Tyson to buy turkeys for the annual
event.
He said King and Tyson have
taken part in the program the last
two years, buying 300 turkeys two
years ago and MO last year
"For people to suggest that Tyson
is trying to buy favors is a low »r • > .s
Hobbs said.
death leaves $2 million in qualified
retirement funds, for example. The
average 65-year-old male has a 20
year life expectancy. A lifetime
annuity paying $150,000 would
cost him about $1.5 million. He left
$2 million — so the taxable
“excess” is $500,000.
A surviving spouse pays no
estate taxes. The excise tax will fall
on the children, when the surviving
spouse dies. They’ll also owe
federal estate taxes on all amounts
over $600,000.“ I can’t eliminate
the problem,” says Perkins, “but I
can reduce it.” Here’s one way:
The parents should arrange
that when one of them dies,
$600,000 will be moved from the
retirement plan into a trust fund
that will pay income to the sur
vivor. When the second parent dies,
the tnist will pass to the children
— free of estate tax. The reduced
retirement fund also escapes excise
tax.
“Any money transferred from
retirement plans to trust funds is
subject to income tax,” says
Perkins. “But the income tax will
be far less than the total estate and
excise taxes combined.”
Herb Vest is CEO of H.D.
Vest Financial Services, based in
Harnett High School
Holds Annual Reunion
BY EVA M. MINTER
Contributing Writer
Several former students, faculty
members, parents and friends of the
Dunn and surrounding area includ
ing this writer, attended the 21st
annual National Harnett High
School Reunion held recently at the
Holiday Inn, East Columbus, Ohio.
The Ohio Chapter spared no pains
in trying to make everything com
fortable and happy for all.
Ms. Margaret Pelham of Erwin
had charge of the Queens Contest
and the keynoter for the annual
banquet was a Harnett High alum
nus, Dr. G.D. McNeill, aformer prin
cipal and now a member of the Har
nett County Board of Education. He
was introduced by Ms. Lois Murphy
Irving, Texas. Recently recognized
by Inc. magazine as one of the 500
fastest growing companies in the
United States, it provides financial
expertise in such areas as discount
brokerage, investment banking,
professional money management,
insurance and estate and retirement
planning for an estimated 1.5
million American families and
small businesses.
UNC Develops New Drug
For AIDS, Pneumonia
BY BARBARA PROUJAN
Special To Tha CAROLINIAN
CHAPEL HILL—A new form of a
drug already in use appears to be
extremely promising for treating a
type of pneumonia that is the lead
ing cause of sickness and death in
AIDS patients.
Created by researchers at the
University of North Carolina at
Chapel Hill, the new drug is an
improved version of pentamidine,
which is used to treat pneumocystis
carinii pneumonia.
This new drug appears to be 10
times more potent in killing the
organism that cause pneumocystis
carinii pneumonia than pentamid
ine is,” said Dr. Richard R. Tidwell,
one of the drug’s creators and profes
sor of pathology at the UNC-CH
School of Medicine.
In moat people, the single-celled
organism responsible for PCP lives
harmlessly in their lungs. But be
cause the immune system, which
fights off infections, is so weakened
in AIDS patients, they cannot keep
the organism under control. More
than 65 percent of AIDS patients
develop PCP.
“In patients who lack an immune
system, the organism proliferates
and causes massive infestation:
their lungs are almost completeU
clogged with the organism,” Tidwell
said.
Because PCP is so insidious and
the currently available drugs to
treat it can cause serious side ef
fects, Tidwell and the othe'- l’N’t’
CH researchers were funded n\ the
National Institutes n*
develop new drugs
The ir.vesfg • ...
pentno. < 's-v. •“«•< •
the disease-causing organism m a
similar manner, but have structural
differences from one another.
The researchers hoped to develop
a drug that was less toxic than pen
tamidine is to humans, but more
toxic to PCP.
“Very little was known about pen
'umidine before it was studied
here,” Tidwell said. “We now have
important clues as to how the drug
works, how it is distributed in the
body and that it is transformed in
the body to at least eight
metabolites.
“A better understanding of pen
tamidine enabled us to design spe
cific drugs with the same mecha
nism of action, but with more po
tency and less toxicity than the par
ent drug,” he said. Of the analogs
created, “at least a quarter are sta
tistically more potent than regular
pentamidine," Tidwell said.
Currently, DMP, which is the
most potent of the drugs developed
by the researchers, has only proven
its effectiveness at treating PCP in a
laboratory setting.
Besides being useful in treating
pneumonia, DMP and some of the
other analogs may be beneficial in
treating other diseases caused by
different organisms, including two
diseases that cause diarrhea: giar
diasis and cryptosporidiosis. Ac
cording to Tidwell no treatment
exists for the latter disease.
Other ailments that may be
treated with the analogs include
leishmaniasis, which causes skin
ulcers: toxoplasmosis, which re
sembles mononucleosis; and ma
■arra especially against the forms
't the disease that are >•«'-*:•»*n*• r to
irre* ' th< •.
of Erwin, national association chair
person of the board of directors. .
Dr. Perry Massey, native of Dunn,
is president of the national associa
tion.
The reunion was a time of friend
ship, fellowship, renewing acquain
tances and remembering various
episodes. It was a time of remember
ing our struggles and counting our
blessings. The event proved to be a
mountain-top experience.
There are Harnett High School
chapters in Dunn, Erwin, Washing
ton, D.C., Philadelphia, and Ohio.
A worship service closed the reun
ion, with a sermon by the Rev. Jacob
Evans of Dunn, alumnus.
The 1992 meeting will be hosted
by the Dunn chapter.
Magic Johnson
Out As Victim
BOSTON, Mass. (AP)—About
200,000 Americans have gotten
AIDS since the epidemic began. Yet .
for many in 1992, the face oi this
disease became one they recognized
beyond all others.
Magic Johnson, one of the
country’s best-known athletes, dis
closed he was quitting professional
basketball because he was infected’
with HIV, the AIDS virus.
Suddenly the life of this epi
demic—the 45,000 new U.S. victims
during 1991, the agonizingly slow
progress of science to stop it—fo
cused on just one man who became
enmeshed in it.
Johnson, who is still outwardly
healthy, believes he contracted the
virus in a way that is still unusual in
the United Staes: He caught it from
a woman.
One decade into the epidemic, 91J
percent of the U.S. victims are drug J
abusers or men who had sex with |
other men. Only three percent gotjl
AIDS heterosexually. And of these I
people, by far the most common j
route of transmission is women get-^
ting infected through sex with drug-g
injecting men. ']
Yet Johnson’s tragedy under* '■
scored the real possibility that HIV "
can spread through male-female
sex. Even though the risk is still
slight for most heterosexual Ameri
cans, in some places in the United
States this appears to be happening,
quietly and often.
Especially disturbing to health
officials is the growth of the infec
tion among teenagers, especially the
poor. One recent study found that"
more than one percent of adoles-'
cents in Washington, D.C. are now
infected, many of them apparently j
heterosexually. Another found that-’
nearly one-half of one percent of;‘
older teenage girls enrolling in theft
Job Corps across’the United States^
carry the virus. i
Worldwide, heterosexual AIDS is
the rule rather than the exception.^
An estimated eight million people
carry HIV, and that number will
grow to 40 million by the year 2000.
Three-quarters of them will catch it
through sex between men and
women.
“The virus is winning,” says Dr.
James Curran, AIDS chief at the
U.S. Centers for Disease Control.
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Being Black in America: A Real Picture
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