8 WEDNESDAY, JUNE 30, 1993 Business THE UKIAH DAILY JOURNAL To report butlnftM n*w» totopboiw Jedy Mifllnit» 4M-H17 MONEYWATCH MHMH^BHBBHHMBBBBBBBMH^HM^HHBi^^^— Tax consequences of selling municipal bonds and other issues ... EDITOR'S NOTE: A June 7, 1993 research paper from Quantech Research Group (475 W. Todd St., Hamden, CT 06518), "Strategy For Late Phase of A Bull Market," provides thought- provoking reasons why we may be in the last stages of the bull market. The paper also contains 14 suggestions on how individuals should invest in this environment. For a copy of the report, write to the above address. Q. I am an avid follower of the stock market and read as much on the market as I can. I frequently come across references to a service called Lowry Data. Where is this service located? — D.C. A. Lowry's Reports (631 U.S. Highway One, Suite 305, North Palm Beach, FL 33408) is a technically-oriented stock service containing statistics, graphs and other data on specific industries and individual stocks. It rates each stock on its potential strength or weakness over the next several days, weeks and months. Q. I heard there is a local resource library containing company annual reports. Where is it located and can anybody use the facility? — J.M. A. The Annual Reports Library (369 Broadway St., San Francisco, CA 94133) offers memberships for $75 per year. As a member, you can access over 1.2 million annual reports on publicly traded companies. For members outside the Bay Area, the library mails company information free of charge. Q. What are the tax consequences when I sell municipal bonds? Do I pay taxes on the gains from these bonds? — M.R. A. According to Lydia Salo (Deloitte & Touche, 3800 Howard Hughes, Suite 1600, Las Vegas, NV 89109), gains and losses realized in the sale of municipal bonds are considered taxable capital gains and losses. Although the interest accrued on the municipal bonds is exempt from federal taxes, the profit or loss from the sale is not tax- exempt. ' When an investor purchases municipal bonds at a premium and then sells the bonds, a portion of the premium must be deducted from the purchase price for each year the bonds are held to lower the investor's basis. The taxable gain, therefore, will not be the exact difference between the sale price and the original purchase price but rather the difference between the proceeds from the sale of the bond and the remaining basis. For more information on the tax treatment of municipal bonds, call the IRS at 800-TAX-FORM and request JJRS Publication 550 titled Investment Income and Expenses. Q. Do you know of a newsletter that tracks real estate companies and real estate investment trusts? — S.W. A. I know of two newsletters that analyze real estate investment Jay Goldinger trusts, national limited partnerships and real estate companies. They are Realty Stock Review (Barry Vinocur, 179 Avenue at the Common, 2nd FL, Shrewsbury, NJ 07702) and REITWatch (Christopher Lucas, National Association of Real Estate Investment Trusts, 1129 Twentieth St., N.W., Suite 705, Washington, DC 20036). Q. Do you know of any investments that tend to rise when interest rates rise and fall when interest rates fall? — R.K. A. The only security I could find that normally responds positively when interest rates increase is a stripped mortgage-backed security called an Interest Only. The holder of the IO portion of the mortgage- backed security receives all of the interest payments generated from the underlying mortgages. An IO benefits when interest rates rise because the number of prepayments decrease as rates increase. When interest rates rise, the price of this security usually rises. lOs are a very complicated and sophisticated debt instrument. Only consider investing in lOs after you have discussed the investment with a broker who understands the ins and outs of mortgage securities. Q. Do you know where I can find a list of companies that allow individual shareholders to reinvest stock dividends in additional common stock? — B.Y. A. The most up-to-date list of companies offering dividend reinvestment plans appeared in the June 1993 issue of the American Association of Individual Investors' AAn Journal. The list includes company telephone numbers to call to request more information about how to participate. All AAJJ members receive the AAJI Journal as part of the benefits of membership. For more information on joining AAJJ and how to receive a copy of this monthly publication, write to AAJI (Maria Crawford Scott, 625 N. Michigan Ave., Chicago, IL 60611). Jay Goldinger is Chief Investment Strategist for Capital Insight, Inc. and author of "Keys to Investing in Government Securities." For a personal reply, please limit your questionfs) to one printed or type written page. Send to P.O. Box 4092, Beverly Hills, CA 90213.Be sure to include your telephone number. Business notes Tuttle Masonite honors June safety award winners Masonite recognized Lawerence Tuttle and Mickey Mack as safety award winners for June. Tuttle, an assistant operator from the finishing department, and' Mack, a chip lab technician from the procurement department, were honored for their outstanding safety performance. Tuttle has been with Ma- sonite for almost five years. During that time he has had no recordable or lost time accidents. Tuttle participates in the safety captain program and in the department safety meetings. "Larry consistently has a good attitude toward safety," said George Castaneda, finishing supervisor. Mack has been with Masonite for six years. During that time he has always had a good attitude toward safety and has a perfect safety record. Mack actively parti" ejpates in his department safety meetings. "Mickey maintains a high level of safety awareness in the mill and '•>>:* ' ' ' - \ ' •- Mack is quick to recognize and point out potential safety problems to fellow employees and supervisors," said Bill Stancer, procurement manager. "Mickey is very conscientious and a team player and is willing to help out whenever he can." As a part of the mill's continuing commitment to workplace safety, the company began the safety award program in mid-1991. The program is intended to promote safe behavior by recognizing individual safety performance. Recipients are chosen monthly and receive a $25 gift certificate to a local restaurant and a reserved parking place near the front office. U.S. Cellular names sales manager United States I Cellular has appointed Terry Turner sales manager for the company's mobile communi-1 cations network in the Northern California markets. Turner will be responsible for helping sales consultants and authorized agents determine what cellular services meet the business and personal needs of their customers. Previously, Turner was an employee of ComTech Mobile Telephone Company in Hayward. He became a manager for the company See BUSINESS, Page 9 * Turner Mentors help others bridge careers By CAROLE HESTER for The Journal If you arc thinking about entering a particular profession or career but want to check it out before committing yourself to the training and schooling, what do you do? Or what if your business has reached a crossroads and you know you need to make some changes in order to grow? In March 1992, a program at North Coast Opportunities was developed to answer these questions. Advancement Enterprises is committed to increasing opportunities and resources for people who have a need for guidance and support in career and business development. The mentors are experienced, successful career and business people, willing to make a voluntary commitment to provide support and knowledge to those developing careers or businesses. Karen Paulson of Advancement Enterprises said, "we match professionals with other professionals, career people with entry level start-up employees or students. The common denominator is that they share similar interests, career goals and styles of learning. "The old boys club used to be the only way of making connections and solidifying business relationships. Now that system has been opened to all of us in a mentor relationship, formalized a little, accessible to men and women in Ukiah." Those who enroll in the program as protegees are people who think they will benefit from a one-on-one professional relationship, and who also want to learn specific skills and practices. Meeting as a group, and then in pairs, the teacher/pupil role is often expanded for mutual learning. A major strength of the project is the learning that occurs laterally between mentors and protegees. This spring's participants included four teams in the career development section and three teams of business participants. ... ,Liz Nix wants to be a registered nurse, so she was paired with Joan Pacini, R.N. Nix said, "I wanted to know more about the field from someone in it. I wanted to know how much money an R.N. made, what would be my specific duties and what would be expected of me. I especially liked the experience of joining some Candy-Striper training and waiting on some of the patients. It reinforced my decision to become a nurse. I felt Carole Hester/The Daily Journal Robin Vlale, seated, and Julie Newbrough-Cook teamed up through the Mentoring Project. Vlale, acting controller at NCO, mentored Newbrough-Cook, fiscal manager at Ukiah Community Center. I belonged in that hospital setting, which excited and remoti- vated me." Cindy Lindgren, owner and manager of Pacific Heartland Realty, coached "Kit" Nelson,, owner of Llamalot and also distributor of Oxyfresh Prpditets? ;f Lindgren said, "I was honored to be able to work with Kit. I really enjoyed her desire to learn in a whole new world. She works against odds for she has a hearing deficiency. She raises llamas but she now distributes this product that she needed help in marketing strategies. I do a marketing training program for my Realtors so I restructured it to help Kit, cover- ing such things as telephone marketing, ads, etc. "The value of our meetings is I've seen her become more confident and move ahead with her ideas, T^prpgrarrds very bene r ficial because it offers people in seaich?br>need 'of 'direction the help to make their business successful." Julie Newbrough-Cook, a pro- tegee in the career development portion of the program, wanted to upgrade the accounting system at Ukiah Community Center where she is fiscal manager. Her mentor was Robin Viale, acting controller of NCO. "I thought Robin ran a tight ship at NCO and would be a goad role model. I wanted to have the knowledge to run a similar sys- tern arid needed support from someone performing the same sort of work." Most of the mentors interviewed spoke enthusiastically about the program. They wanted to pass on to others the help they received when they started ill their careers. They also talked about the privilege of being theft for the protegees, sharing ideals and the right way to accomplish their goals. ' Julie Puffer, business planning consultant and mentoring project business coach with Advancement Enterprises, said, "It became pretty clear that the mentors and protegees were forming valuable relationships without much assistance. Our current group meetings focus on clarifying-goals and evaluating progress. "In our present group of 14, the business mentors were doing some serious training and teaching. Marketing materials and tools, sales planning and overall business design are some of the outcomes." Those involved in the program stress that mentors do not need to "know everything." Just having an interest and the skills can enable the mentor to be matched with an appropriate protegee. They stressed that the mentoring project is a valuable means for professional development and for forming lasting relationships in the business and professional community. Career development participants were: Alta Picchi, a social worker at Redwood Coast Regional Center and protegee Vicky Plum, a child care specialist at NCO's WINDO project, a recovery home in Potter Valley; Kathy Hoffman, director of public relations at Mendocino Community College mentoring Pam Respini, planning and marketing assistant at Mendocino Transit Authority; Viale and Newbrough-Cook; Pacini and Nix. "Those partioipatingin the bu«- riess<pohibiK)f the progfaflliwere!! Lindgren and Nelson^ ffilltry HuffOrd, owner of Headstrong Design & Marketing, mentoring Peter Good, owner of Good Enterprises; Steve Switzer, own* er of Business Management Services mentoring Theresa Pack, of Mendocino School of Holistic Massage & Advanced Healing. For more information about the mentoring program, call Puffer or Paulsen at 468-3553. Public radio station names new general manager KZYX-FM, the public radio station for Mendocino County, has hired Philip Aaron Tymon as its new general manager. Tymon was the general manager of WBAI-FM, a Pacifica net work station in New York City, from December 1982 through May 1985. He has recently been a lecturer in the Broadcast Communication Arts Department at San Francisco State University. He has had extensive involvement in broadcasting and related fields — including work experi- Tymon ence for Media Access Project, the Ralph Nader organization National Citizens Committee for Broadcasting (now defunct), and the Cable Television Information Center, all in Washington, D.C., and Grassroots Video of Berkeley and KRCB-TV of Rohnert Park. Other work experience includes being executive director for the Nuclear Information and Resource Service in Washington, D.C. While at NYU Law School, Tymon was a founding board member of the NYU Public Interest. Law Foundation. Tymon, a graduate of the Bronx High School of Science in New York, received bachelor degrees in astronomy and philosophy in 1972 from Tufts College in Medford, Mass. He received a master's de- gree in broadcasting communication arts from San Francisco State University in 1980. In 1979, he received a J.D. from New York University School of Law. He is a member of the District of Columbia Bar, currently on inactive status. KZYX first went on the air in 1989. Located in Philo, KZYX has been intent on reaching beyond its home-base of the Anderson Valley. Tymon has stated that he is looking for major growth in signal coverage, membership and programming from around the county. The station is pursuing a plan to extend its signal to parts of the county that currently have spotty reception or no reception at all. Tymon stated that, "Within a few years, KZYX will be perceived as 'the' public radio station for all of Mendocino County and surrounding areas." He went on to say, "We are;! devoted to maintaining an eclectic programming mix and homey, personal touch. But many parts of Mendocino County don't yet feel" included, either because of geographical distance or a feeling that we don't speak to their community. My goal is to reach out so that no, one feels excluded." ; .» Tymon said he hopes to form; KZYX "support groups" in all, areas where the station is heard,; whether Mendocino County or beyond. Those interested should contact KZYX for more information. While big firms cut jobs, small companies begin hiring NEW YORK (AP) — Thousands of job cuts announced by Sears, IBM and big aerospace manufacturers early this year obscured a subtle counter-trend: Smaller companies are hiring. Economists and labor forecasters say a broad array of small to medium-sized companies, the engine of job growth during the 1980s, are at least looking to fatten their staffs as it becomes clearer that the economy is improving. Many of these companies, which range in size from a couple of dozen workers to 1,000, already have added a few people here and there. But the effect of this marginal job creation is hard to detect and has gone largely unnoticed. "When IBM lays off thousands of people, that more than compensates for the small companies adding 10 jobs at a time," says Andrew Campbell, president of Corporate Technology Information Services Inc., a high-tech industry research firm in Wobura, Mass. that tracks hiring plans of 35,000 companies. Many companies, which range in size from a couple of dozen workers to 1,000, already have added a few people here and there. But the effect of this marginal job creation is hard to detect and has gone largely unnoticed. Sears announced 50,000 job cuts early this year, big aerospace manufacturers said they'd slash 36,000 positions and IBM planned to trim 3,000. But Campbell says his firm has seen small high-tech companies increasingly eager to recruit. In a survey completed in January, it found that nationally, these companies are planning to expand their staffs by 6.3 percent in 1993. That's about 139,000 new jobs. Others foresee modest increases of hiring in other small businesses, ranging from home-health-care providers to office supply distributors. On the other hand, the Fortune 500 companies, which once employed 20 percent of the U.S. work force, are now down to about the 10 percent level and still shrinking, says Richard Belous, a labor economist with the National Planning Association, a research group in Washington. "The small companies are where the job growth is going to come from," he says. "In terms of quantity, that's good news." In addition, a growing number of companies are looking to hire temporary workers, at least, as their business improves. Manpower Inc., the nation's leading temporary help company, is likely to increase its payroll this year, breaking its record 550,000 workers in 1992. But most job experts practically all new «., will be in services, not «•—,... ing, where the number of workers has eroded as U.S. factories have moved operations abroad or ; learned to produce just as.mw* with less help. In general.W|ce jobs offer lower, pay and fewer benefits. , "A lot of the folks who are going to be leaving and losing $25 an hour jobs are going to be lucky to get $15- and $20-an-bour jobs, says Kenneth Goldstein, a Ubor economist at The Conference Board, a business research group in . New York. \ The question of job creation is important because it is critical to ; the economic recovery, The gov* , ernment's chief economic forecMtr ing gauge has given strong that the recovery will last much of 1993. But many economists are perplexed because labor J —^"- lwW« Wr. SHflp^'Wp.. .ST^ j^j.'s's «* creation has surged this far economic recovery.
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