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MARCH 10-16, 2010 C7-C8
www.newpittsburghcourier.com
PHOTOS BY DIANE DANIELS
SHARING A WEALTH OF KNOWLEDGE—Addressing issues affecting businesses in today’s economy during the town hall meeting held by the Western Pennsylvania Minority Supplier Development Coun-
cil were, from left to right: Mark Harrison, Vic Tatum, Craig Bingham, Carl Knoblock, Naomi Moye, Robert Stein and Darrell Freeman.
Suppliers town hall meeting full of information
by Diane I. Daniels
tor of the Pittsburgh SBA; Robert Stein,
For New Pittsburgh Courier
manager of the Information Technology
Program at the University of Pittsburgh
From programs and services provided by Small Business Development Center;
the Community College of Allegheny Darrell Freeman, CEO of Zycron Inc.
County, legislative updates, how to acquire and Harrison.
information on obtaining stimulus funding The panel, mixed with comments from
to obtaining financing, assessing current the audience, addressed issues on knowing
revenue streams and principles to operat- your break-even point, assessing your cur-
ing a successful business, much informa- rent revenue stream, cutting cost to post-
tion was to be had during the Western pone expenditures, forming alliances to
Pennsylvania Minority Supplier Develop- pursue business that you cannot attract in-
ment Council Supplier Diversity Town dependently, staying out of debt and if bor-
Hall Meeting. rowing is necessary, being sure about how
With a special emphasis to help MBEs much you need, how you will spend it and
and corporations focus on the threats and how you will retire the debt.
opportunities they will face in 2010, to “ad- The program ended with remarks from
just their headsets” and provide specific Freeman, owner of an information tech-
steps to take to grow their businesses, the nology services and solutions firm.
affiliate of the National Minority Supplier Through his wisdom, he provided princi-
Development Council hosted the event ples to operating and sustaining a suc-
themed—“New Beginnings…Positioning cessful business during these current eco-
for Success” Feb. 24 at the CCAC Student nomical times. He advised having the cor-
Services Center Auditorium. Sponsors in- rect vision for your company, to be pre-
cluded CCAC, PNC and RRI Energy, Inc. pared and hire the right people to assist
“These types of events are very important in attaining the vision, to understand
and about our mission to form linkages,” that there will be obstacles along the way,
said WPMSDC board chairman, Gary and to use common sense all while main-
Evens, senior vice president, Supply Chain taining your integrity.
Management of the PNC Financial Ser- Freeman says he does not tie into the
vices Group. “Today is just an example of concept of a disadvantaged business. “My
how minority businesses, corporations and business mindset is that I go out for the
government entities come together to total project and being about providing a
share information. The WPMSDC mission good service,” he said. Claiming that he
is to create business opportunities for mi- started his business in 1991 with one per-
nority-owned enterprises by certifying and son in a small room using his credit
linking them to corporations and public
OH WHAT A DAY—Alexander Nichols, president and CEO of the WPMSDC and keynote speaker of the
cards, he says now he has 250 people
agencies.”
town hall meeting and Darrell Freeman, chairman of Zycron, Inc., based in Nashville, take a minute
across the country and conducts $2.16
Speakers for the morning included Dr.
after the event.
million in business. Recently completing
Alex Johnson, president of CCAC, Renee P. a two-term service as chairman of the
Aldrich; representing the Office of Jake Nashville Chamber of Commerce, he also
Wheatley, Pennsylvania House of Repre- and commissions establish an overall tar- nonprofit financial services program, it is the co-founder of two other businesses:
sentatives, Elizabeth Bowers of the Penn- get of 25 percent of procurement and con- was created by NMSDC certified minority Reliant Bank and Pinnacle Construction
sylvania Department of General Services struction dollars going to MWEs, WBEs businesses across America through a net- Partners.
and Mark Harrison from NMSDC’s Busi- and DBEs. (3). Requiring that prime con- work of local participating banks and Pleased with the turnout and results of
ness Consortium Fund. The keynote tractors doing business with the state pay NMSDC affiliates. The fund provides ac- what he hopes will be an annual event,
speaker was Nashville-based Darrell Free- subcontractors within five days. And the cess to capital exclusively to those that Nichols says minority-owned businesses
man, chairman of Zycron, Inc. fourth point to create greater uniformity have supplier/vender relationships with are a rapidly growing segment of the mar-
Welcoming the attendees to the college, and consistency in the state certification NMSDC national and regional corporate ket and will be a driving force in our na-
Johnson pointed out that the school is de- process for MWEs, WBEs and DBEs by members and are experiencing difficulty tion’s economic recovery. “Shrinking bud-
signed to help the community and stated having the state Department of General obtaining financing through conventional gets, layoffs and general belt tightening
that he is proud of their association with Services accept certification from the channels on reasonable terms. Harrison are in the headlines and on the minds of
WPMSDC. Pennsylvania Unified Certification Pro- also pointed out that the BCF also offers people across the country. In the current
Aldrich stressed that Wheatley is com- gram and having local governments and professional consulting services. He en- economy, these pressures can make organi-
mitted to making sure that women and mi- school districts accept those certifications couraged participants that are interested zations of any size feel squeezed. That’s
norities, veterans and disadvantaged en- as sufficient. in learning more to visit the website at why it is important that the WPMSDC
trepreneurs receive their fair share of state Government funding and money from the www.bcfcapital.com. brings together entrepreneurs, corporate
and government contracts. She mentioned stimulus package was addressed by Bow- Excited about the panel and the vi- diversity practitioners, government agen-
that he introduced House Resolution 78, ers. Indicating that contracts are available, brant conversation derived from it, cies and college- and university-based par-
the impetus behind the creation of a 59- she provided a website for information WPMSDC president and CEO, Alexan- ticipants to network, build synergies and
page report that listed four major recom- (www.dgs.state.pa.us/bcabd). She empha- der “Nick” Nichols said the survival work together to survive the economic
mendations: (1). Having all state agencies sized the importance of taking time to re- techniques and business strategies of- change.”
reserve 10 percent of their procurement search and go through the site. “There are fered by the panelists was invaluable. Around for 38 years, the WPMSDC is
and contracting dollars for small busi- hundreds of agencies listed with changes Consisting of some local minority busi- part of the NMSDC Network, which in-
nesses with 250 or fewer employees, in- taking place every day,” she said. ness owners, the panel included Craig cludes 36 affiliated regional councils,
cluding but not limited to minority-owned, Available to WPMSDC certified MBEs, Bingham, president of DCI Logistics; matches more than 17,000 certified minor-
women-owned and disadvantaged-owned the Business Consortium Fund, Inc. offers Naomi Moye, president of Abraham ity businesses (Asian, Black, Hispanic and
business enterprises (MWEs, WBEs and access to capital to ethnic minority-owned Group; Vic Tatum, president of Kensing- Native-American) with its more than 3,500
DBEs). (2). Having state agencies, boards businesses. Explained by Harrison as a ton Capital Corp.; Carl Knoblock, Direc- corporate members.
The ‘real deal’ on real estate investing
We’re all seeking the American uid? Can you eas- ates a cash flow.
you have a bundle of people believing
Dream. For most of us the American ily access your Damon Carr There are certain
real estate investing to be the easiest,
Dream is incomplete without either one wealth from real tax advantages to
quickest route to riches. Caught up in
of two things, homeownership and/or estate at a mo- owning real es-
the dream of retiring from work and al-
the ability to own your own business. ment’s notice with- tate. Lastly, you
lowing the rental income to provide for
Real estate investing seemingly allows out making price
The Carr
can sell real es-
your needs and wants will cause the
you to take advantage of both. You’re concessions or re- tate property at a
most intelligent among us to ignore the
awarded the coveted title of homeowner ducing your equity gain. The problem
mathematical alarm to take into ac-
while at the same time you create a position by taking
Report
with real estate
count both upside potential and down-
source of income from your income pro- out a loan? investing, influ-
side risk.
ducing real estate property. I’ve heard it When I think of a enced by the mul-
Rental property produces what is
stated many times that real estate is millionaire I think of someone who has titudes of infomercials, tapes, semi-
called passive income—meaning you do
one of the great pillars of wealth. I once instant access to a lot of money. But the nars and books is way too many people
not have to materially participate to
heard a real estate investment speaker typical real estate investor is property become real estate investors before
generate an income. Oddly enough the
state that real estate has made more rich, with marginal positive cash flow, fully understanding the business of
idea of passive income is another con-
average people millionaires than any and is highly leveraged with mortgage real estate investing.
cept that tends to downplay the busi-
other industry. I don’t know the validity related debt. The typical real estate in- They’re sold on the idea that you can
ness side of real estate investing. If you
of his statement but I do know that mil- vestor is just a couple of missed rental create wealth quickly by owning real
think that you can sip lemonade in the
lionaire status via real estate investing payments away from losing it all. estate. The other major selling point
sun while waiting for rental checks to
can often be misleading. It looks good Real estate can indeed be a great in- that leads people into real estate invest-
pour in, here’s a glimpse of reality. Two-
on a balance sheet when your assets vestment. There are several advan- ing is that it’s easier to get financing for
months out of a calendar year that may
minus liability calculation suggest that tages. Real estate serves as a hedge real estate than it is to get financing for
you’re a millionaire—but are you liq- against inflation. Rental income cre- a business. Combine the two ideas and
SEE REAL DEAL C2
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