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Page 2 Portland Observer, June 8, 1983
targets small business finance
Representative Ed Leek (D -P o rt-
land) last week introduced H B 3003
to assist businesses for community
development. The measure, which
has bi-partisan sponsorship o f 19
House members and 16 Senators,
would provide a source o f capital to
help finance small businesses and
community projects which stabilize
and expand employment opportuni­
ties in the state.
H B 1003 w ill be of considerable
benefit to small businesses and m i­
nority owned enterprises in North
and Northeast Portland. It w ill sup­
port activities o f local development
corporations such as River East
Progress. Inc., as well as o f the U .S.
Small Business Administration. The
bill has the active endorsement o f
the SBA, the National Federation o f
Independent Businesses, the Oregon
A F L -C IO and the Council for Eco­
nomic Development in Oregon.
“ Most o f the new jobs necessary
to Oregon's economic recovery will
be created by small businesses. H B
3003 will add significantly to the
community development. H B 2002
passed the House 39-0 and is await­
ing Senate action. It is described by
supporters as the “ centerpiece o f
economic development legislation
this Session." Representative Leek
and Senator Gardner were also the
chief sponsors o f H B 2002.
According to Senator Gardner,
“ H B 3003 and H B 2002 are key
elements in the 3-point economic de­
velopment strategy for Oregon
Workshop explores conflict
“ Equity in the '80s: The High
Cost o f Intergroup C o n flict" will be
held on June 16 and 17 at Lewis and
Clark College.
The workshop,
sponsored
by
the
Governor’s
A ffirm ative
Action office and
numerous organizations, will ad­
dress issues o f inequality in em­
ployment, education, justice in
society, government, media and
religion.
Among the participants will be
Assistant U.S. Attorney General J.'
Paul M cG rath, who will represent
President Reagan as the keynote
speaker; Eleanor Holmes Norton,
who was chairman of the Equal
Opportunity Commission during
the Carter administration; and
Alvin Washington, Vice President
and Associate Regional Manager of
the Kaiser Foundation Health Plan
o f Oregon. Others include: Secre­
tary o f Slate Norm a Paulus; Ted
Gambler, former chairman of Pepsi­
Cola Company o f Portland; Dr.
Carlos Cortez, University o f C ali­
fornia at Riverside; D r. Gene Chao,
president o f Metheus Corporation
in Beaverton.
Registration inform ation is avail­
able at 378-6868 (229-5700 Ext. 6868)
or I-8OO-457-78I3.
tools (he State has available to pro­
vide concrete assistance to business
development in O reg o n." stated
Representative Leek.
H B 3003 is a companion bill to
H B 2002, which establishes a C om ­
munity Development Finance C o r­
poration and provides general obli­
gation bond authority to finance
local public works facilities for
which the Legislature has developed
this Session. They are consistent
with our belief that the Stale’s role
should be to assist local comm uni­
ties to pul in place and carry out
their own development effo rts.”
HB 3003 and its accompanying
HJR 36 will establish a Comm unity
Development Fund from the sale o f
general obligation bonds. This Fund
would be used by the Economic
Development Department to:
1) Repurchase loan obligations
from Oregon banks for small busi­
ness loans guaranteed by the federal
government (modeled after a suc­
cessful Alaska program).
2) Allocate monies to the Oregon
Business Development Fund created
by SB 220 this Session to provide
loans to municipalities, businesses
and local development groups for
financing industrial and commercial
brought io you
every week
by
AMERICAN STATE BANK
FEDERAL DEPOSIT INSURANCE CORPORATION
An old saying classifies Italian as the language o f
song, French as the language o f love, and English as
the language o f business.
The ostrich, largest o f living birds, weighs 300
pounds or more.
REP. ED LEEK
•
activity (maximum 40% state parti­
cipation).
3) Provide general obligation
bond "b ac k-u p " authority to the
umbrella industrial development
revenue bond program, proposed by
Rep. Katz in H B 2737, to provide
long-term financing for small busi­
nesses (modeled on a Connecticut
program).
The first hearing on H B 3003 was
held on Tuesday, June 7, by
the Joint Committee on Trade and
Economic
Development.
Swift
House action is anticipated.
The ancient Greeks believed the rainbow
placed in the heavens by the gods to foretell war.
About four-fifths o f Greenland, the largest island*
in the world, lies under an icecap.
tss
We do not do business w ith South Africa.
American State
Bank AN INDEPENDENT BANK
Head Office
2 7 3 7 N. E. Union
Portland. Oregon 9 7 2 1 2
Sale prices throughout this section will be effective W ed . June 8.
through Saturday. June 11 unless otherwise noted
SALE
Businessmen deplore media attack
A media attack by a national Re­
publican committee against Con­
gressman Les AuCoin was de­
nounced by four Oregon business
leaders as a “ fabrication" and a
"reckless and cruel attempt to
frighten homeowners."
Guy Jaques, president o f Far
West Federal Savings; M ike Robin­
son, vice president o f the M etro
Home Builders and a director o f the
National Association o f Home
Builders; Jim Irvine, immediate past
president o f the M etro Home Build­
ers; and Portland builder Gabe
Sugarman, president o f Verity
Homes, said the attack on AuCoin
“ shows what's wrong with politics
today, and we think it should stop."
The four said Oregon newspaper
and radio ads paid for by the Wash­
ington, D.C.-based National Re­
publican Congressional Committee
falsely allege that Democrats in
Congress are “ out to make it a lot
costlier" to own a home these days
with a "proposal'* to cut back on
the tax deduction homeowners are
able to claim on home mortgage
was
interest payments.
As a Democratic member o f the
House o f Representatives, the ads
link AuCoin by association to the
so-called "p ro po sal." and urge Ore­
gonians to "te ll him to get his own
House in order. And not to tamper
with yours.”
In a join t statement, the four
business leaders said "political par­
tisanship is one thing. But this attack
is a downright disgrace."
There is no legislation pending in
Congress to limit the mortgage de­
duction. they said, and none has
been proposed.
Last year, A uCoin sponsored the
Family Housing Production Act to
help young families get into their
first home and to stimulate the de­
pressed housing and wood-products
industries. The bill passed Congress
handily, only to be vetoed by Presi­
dent Reagan. This year, AuCoin is
sponsoring legislation to create tax-
deductable
Individual
Housing
Accounts to promote savings by po­
tential first-time homebuyers to­
ward a downpayment on a home.
FATHERS
DAY
Give Dad classic
dragon emblem
shirts $5-$6 off
JUNE 19
A Mesh knit pullover — the casual look that
goes anywhere1 Terrific fashion colors in
easy-care blend of cotton and polyester
Sizes S.M L.XL Reg $16
0 9 9
$17 TaH sizes M.L.XL
11.99
Z
B All-cotton Perma-Prest* pullover — a classic
in comfort and style Fashion color assort­
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$20 Striped cotton pullover 13.99
11 99
BUSINESS NOTES
A union c a m p aig n a tta c k in g E q uitab le U fa A s su ra n c e S o c ie ty
Is p ic kin g up spaed. Service Employee International Union District 925
is hilling at this company for two reasons; anti-unionism and
discriminatory actions against (he majority female work force. The
company has refused again to recognize the unit and bargain. S E IU ex­
pects other unions to withdraw pension funds and insurance contracts
from Equitable. The A F L -C IO recently endorsed the boycott.
T bs n a tio n 's E m p lo y m e n t Service w a s 60 years old J u n e 8. 1983.
On (hat date, the anniversary o f the passage o f the Wagner-Peyser Act,
32 local employment offices in Oregon joined 2,500 offices throughout
the United States in asking businesses to observe the date by sending job
openings to them.
T h e O reg o n P ro d u c tiv ity C a n te r a t O reg o n S ta te U n iversity
w a n ts to help your business d evelop m o re e ffe c tiv e w a y s to
Im p ro v e p ro d u c tiv ity , and to guide organizations in the use o f such
practices. The Productivity Center provides a variety o f services
including: in-house and open-enrollment short courses; assessment of
improvement within organizations through execution and analysis o f a
Productivity Diagnostic; and assisting in the implementation o f full-scale
employee-involvement processes. W rite the Productivity Center for more
information: 100 Merryfteld H all, O .S .U ., Corvallis, Oregon 97331X301.
Terry
trimmed
pullovers
$3 off
information.
Changes in forest practices to prevent debris avalanches are being con­
sidered by the Oregon State Board o f Forestry.
During the winter o f 1981-82, unusually heavy and intense rainfalls of
up to six inches in a 24-hour period caused a number o f landslides on
steep forest sites in Western Oregon.
Your chotce
$18
Craftsman hand tools
8- pc wrench sal
. 2-pc pipe wrench sal
9- pc screwdriver sel
9 pc punch/chisel set
Smooth knit tops
add interest with
terry trim 100%
polyester S-XL
Reg $15 99
T h e C o n su m er Price In d ex fo r A ll U rb a n C o n su m ers (C P I-U )
Increased 0.7 p e rc e n t before seasonal adjustment in A p ril, the U.S.
Department o f la b o r's Bureau o f la b o r Statistics reported. The April
level ol 295.5 (1967 ■ 100) was 3.9 percent higher than the index in April
1982.
The Consumer Price Index for Urban Wage Earners and Clerical
Workers (C P I-W ) rose 0.6 percent in A p ril, prior to seasonal adjust­
ment, to a level o f 294.9 (1967 » 100). For the 12-month period ended in
A p ril, the C P I W has also increased 3.9 percent. The C P I-W is used for
indexing Social Security and some other Federal payments. It is also
commonly used as an escalator in collective bargaining agreements.
P ro d u c tiv ity , as measured by output per hour o f all employees,
increased 4.8 p arc an t fo r n o n -fln e n c ie l businesses d u rin g th e first
q u a rta r o f 1983. according to preliminary measures announced by the
Bureau of I abor Statistics (B I.S ) o f the U.S. Department o f Labor.
Updated first-quarter productivity and cost measures for the business,
nonlarm business, and manufacturing sectors were also announced.
There was no change in the 2.2 percent reported growth o f productivity
in the business sector, and little difference in the measure for the
nonfarm business sector (4.8 percent versus 4.7 percent).
In manufacturing, the updated measures show faster productivity
growth than had been reported last month, on the basis o f preliminary
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C on­
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Polyester
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$13 99
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6 97
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Sp ecial pwrchaaa
Contemporary
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Yarn-dyed plaids,
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of polyester and
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S ize s
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PORTLAND PHONE 238 2311
Sears
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«