Indianapolis Recorder, Indianapolis, Marion County, 24 October 2003 — Page 29

RIDAY, OCTOBER 24, 2003

THE INDIANAPOLIS RECORDER

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TOCK ► Continued from Page 1

POWER ► Continued from Page 1

HOME ► Continued from Page 1

! and at rising rates, are often a good sign that there really is a . business there and not just a nicely • printed stock cert ifieate with little in the way of value behind it. Q, How will mutual fund investors benefit from this tax bill? A. Investors in funds that invest primarily in dividend-yield-ing stocks should enjoy the benefit of a lower tax rate on the taxable quarterly dividend payments attributable to corporate dividends that the fund distributes. The reduction applies to dividends received on or after Jan. 1, 2003.

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From another perspective, dividend-paying equity holdings may theoretically increase in value, since they were purchased at a lower price on the assumption that a larger portion of their gains would be taxed at a higher rate. Q, What do you look for in a company that pays a dividend? A. The Pioneer Equity Income Fund focuses on solid companies with good records of dividend payments. These companies tend to be more mature and have developed the habit of setting aside the money for dividend payments, which we think is very healthy. This focus has often helped the fund avoidsomeofthesharp vola-

tility that the market has experienced over the years for two reasons. First, of course, is the fact that dividend-paying stocks provide income as well its a price cushion to help dampen the effects of market volat ility over time. But they can also help to keep us out of trouble. Many of the market woes over the past three years have arisen from intense speculative activity in what are sometimes referred to as “concept” stocks. These are stocks of companies involved in businesses that capture the public imagination in their early stages, but do not always go on to become “real" companies with sales and earnings to support their lofty share prices.

PORTFOLIO ► Continued from Page 1 Board. • The Russell 2000 Index tracks the performance of stocks from 2,000 medium- to smallsized companies. • The MSCIEAFE Index tracks the performance in Europe, Australia and the Far East. • The NASDAQ (National Association of Securities Dealers Automated Quotations) Index is the first electronic stock market in which buyers and sellers can exchange shares over a computer network. Many small startup and high-tech companies are listed on this index. • Lipper Analytical is a global leader in supplying mutual fund analytical information. Lipper gathers the performance of all mutual funds that are managed similarly into a category. Using benchmarks With your fund’s prospectus or annual report in hand, take a look at your fund’s long-term performance. Does it consistently perform well compared to its benchmark and peers? Remember that

short-term results are not necessarily an indication of how your mutual fund will perform in the long-term. After making comparisons, you may find that your fund isn’t performing as well as you’d like, or it may no longer match your investment profile, which includes your financial goals, risk tolerance, and time horizon. For a better understanding of whether you should continue to stay invested in your fund, consider each of these questions: • Has the mutual fund underperformed its peers over three years? • Has the mutual fund changed strategy’ or focus to one you do not like or understand? • Is the risk that you’re taking not worth the rate of return you are receiving? • Is the mutual fund just far too volatile for your risk tolerance? If you answered yes to any of these questions, you may want to pursue more information from your financial advisor.

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Target Market News. ‘Marketers are getting more and more intelligent every day.” Did it take them 20years to gain such knowledge about their Black consumers? And, when you compare a measly $1.5 billion to Blacks’ $630 billion (and even more by some reports)you have to like the return on their investment. Another interesting point made by Smikle is, “One of the indicators ofhow well we’re doing and how important that growth is to African Americans can be seen in the increase of dollars contributed to political organizations, political parties, and political candidates.” My question: “What about the lack ofdollars going into Black business development, entrepreneurship, and other economic empowering activities?" Smikle also points to Russell Simmons’ threatened PepsiCo Inc. boycott as proof of how seriously companies take the importance of Black spending power and political and economic clout. The boycott was averted after PepsiCo agreed to donate millions to youth organizations around the United States. Questions: How many millions? Donations to what organizations? Has anyone followed up to see if those donations have been made yet? My final question: What are Black people getting for our $600-$700 billion in “spending power”? First ofall, the only way we can have real power is to use it. Otherwise, words like “potential,” “latent” and “dormant” will continue to dominate when it comes to African Americans and our so-called power. How do you know you have power if you don’t do something that exhibits that power? I strongly contend that “Black spending power” is a misnomer, an oxymoron. How can we be a powerful people simply by spending? As the BE article implies, our power lies in the act of not spending. Amos Wilson, in his book, Blueprint for Black Power, cites the words of Thomas R. Dye in Power and Society. “Economic power is the power to decide what will be produced, how much it will cost, how many people will be employed (and laid oft) what their wages will be, what the price of goods and services will be, what profits will be made, how these profits will be distributed, and how fast the economy will grow." Brother Wilson adds, “In capitalistic America the foundation of economic power is private property whose ownership not only refers to real estate but also to the ownership of the means of production,’ of accumulated capital, wealth, (and) surplus production.” How can we have power by spending our money? Black spending "power"? I don’t think so. But we could change things by spending more of our money among our own businesses, building them up, creating new jobs and controlling a larger piece of the overall economy. Power is only power for those who use it. Everybody else is using our socalled spending power, brothers and sisters. So, in order to prove we have power, we have to use that power to empower ourselves. .lames E. Clingmnn, an adjunct professor at the University of Cincinnati's AfricanAmerican Studies department, is former editirr of the Cincinnati Herald Newspaper and founder of the Ureater Cincinnati African American Cham her of Commerce. He can he reached at (MA) ISP-H.IJ. or by e-mail at jelinymanor hlaekinu miies.n >m.

ducted to ensure the quality of the home - including electrical, roofing, heating and cooling systems and much-needed repairs are complete. 1 f ma j(>r replacements are required (hen the cost for these repairs will be added to a mortgage. "Many of those that are affected are those whose property taxes or insurance c< >st s arc not added into an escrow account. This is called non-es-crow. In May, these homeowners were forced to come up with these dollars within a series of months,” Huntzinger said. To assure that participants are grasping the concept of homeownership and money management, INI IP asks that each qualifying candidate participate in a three-hour money management class. “This was established to educate people on the biggest financial decision that they mav ever make in life. YVe offer an array ofhomeownership classes including homeowner ship training - for those just learning the concept of purchasing a

home and those who do not quality for a loan due to their credit history," he said. INI IP has received over 400 interested applicants, and they believe that the need for this program will increase as the Nov. 10 property tax deadline gets closer. "YY'e will keep this program around as long as we see a need in the community," Huntzinger saitl. INI IP is a non-profit organization that assists with low-to-modcrate family assistance. Funding for the Preserving the American Dream program is drawn out of a $21 million loan pull that 13 lenders in the city of Indianapolis contribute to. “Thousands of people are affected, in fact I w;ls forced with a doublingofmy property taxes and a 20 percent increase in my insurance. Huntzinger said. If interested in the Preserving the American Dream program contact the INHP office at (317) PJo-HOO or visit its Web site at www.INHP.org. Be sure to ask about their grant program to help those with application fees.

KEYS ► Continued from Page 1

erty taxes, prevent foreclosure, avoid predatory lending traps, discover down payment assistance programs, detect the pros and cons of refinancing and equity loans, along with more housing topics. Experts who will be available to answer questions at the' event include several NAREB real estate salespeople and representatives from Huntington Bank, Irwin Bank, Bank One, Key Bank, Sun Mortgage, Future Securities, legal and titleservices and officials with the U.S. Department of Housing and Urban Development (HUD). “Our goal with this forum is to offer more insight on housing- opportunities, insurance and other related topics out of concern for problems that are being experienced by consumers," said De Lores P. McGavock-Gordon, president of the Indianapolis NAREB chapter. “Indiana is numberone in the rate of foreclosures. It is not enough to just talk about the problems; we must educate consumers." NARFdl isa non-profit organization and the local branch likes to show its appreciation each year to the community through an event that “benefits all.” Realtists are AfricanAmerican real estate brokers

who derive their name from a term that was originally intended as a form of discrimination but has gained honor in the Black community. Until the 1970s, Black housing professionals were not officially licensed as Realtors in many regions, and were called realtists. McGavock-Gordon added that it is important that potential minority homeowners must learn how to navigate the snares and loopholes that can be used to cause denial, such as credit scoring, employment history, and credit history, which can be used to justity denials but still keep companies within the perimeters of federal diversity requirements. “Realtists have great concern in the area of public housing opportunities,” she stated. “Some companies and lenders are orally noting the term ‘equal opportunity,’ but practice the opposite behind closed doors. We believe the real thrust is not the AfroAmerican consumer, but other ethnic groups within the minority category. They are more likely to have loans approved with fewer barriers. Therefore, they are quickly outnumbering the AfroAmerican homeowners.” For more information about the Communit} Education Forum (>;i Public Housing, call (317) 822Kilti.

BUSINESS BRIEFS

Carolyn Mosby Mosby named vice president of communications Carolyn Mosby nas been promoted to vice president of communication and commu nity affairs with USFilter Indianapolis Water, LLC (USFIW). As vice president of communication and community affairs, Mosby will continue to lead the department's internal and external communications initiatives as well as oversee ing staff in the areas or water education, community rela tions and creative services, but will focus moie on the strategic development of

communications initiatives and community collaboration and support. Addressing tax issues The latest state and federal tax issues facing Indiana businesses will be featured at the Indiana Chamber of Commerce's upcoming tax conference on Oct. 30, at the Hyatt Regency hotel in downtown Indianapolis. On the agenda are current property, sales and income tax developments plus ones on the horizon. Indiana House Minority Leader Brian Bosma also discusses the 2004 Indiana General Assembly fiscal and tax initiatives. For more information or to register contact Ken Winslow at (317) 264-6885 or at (800) 824-6885. Roundtable and lunch network The Indiana NIE Network will host a Roundtable and lunch on Oct. 24 from 11 a.m. to 2:30 p.m. at the Wells County Public Library in Bluffton. Bring lunch money of approximately $10. For more information or to register e mail kbraeckeM'hspa.com or call (317) 803-4772.