C2 MARCH 10-16, 2010 BUSINESS NEW PITTSBURGH COURIER
Tool for Today’s Economy:
BUSINESS
CALENDAR
An independent consumer Þnancial protection agency
Brown bag lunch
MARCH 10—Volunteers of
by Charlene Crowell
American will host their Brown
warning against deceitful apply for payday loans many consumer groups, bers bicker over the need
Bag Lunch and Disability Re-
For New Pittsburgh Courier
activity, it is time to take and many are falling including the Center for to create a new federal
source Breakfast from 12-1
note. After receiving a deeper into debt after get- Responsible Lending, be- agency while stooping to
p.m. at 1650 Main St., Sharps-
(NNPA)—For most deluge of complaints, the ting tangled up with a
coming an informed con- partisan threats of fili-
burg. This is for new and exist-
Americans, the Better BBB recently told buyers lender who has zero re-
sumer is just not enough. buster.
ing business owners who are
Business Bureau is the to beware. The warning gard for the law.”
The plague of financial So while America’s peo-
looking to expand their busi-
private sector’s gold stan- also came following an As with traditional pay-
problems that today af- ple are resorting to des-
ness. The topic is “Taking Emo-
dard of objectivity and independent investiga- day store loans, online
fect families, govern- perate measures, like on-
tions Out of Your Financial De-
fairness. Founded in 1912, tion and lawsuit by the payday lenders quickly
ments and businesses line payday loans to sort
cisions.” Lee Wagner of Wad-
this nonprofit organiza- West Virginia attorney give consumers a painful
alike is a systemic ill fu- through their own finan-
dell and Reed Financial Advi-
tion today has 123 offices general. lesson. These consumers
eled by inherently unfair cial wreckage, Capitol Hill
sors, will discuss his personal
in the United States and The culprit: online pay- also quickly find out that
and irresponsible finan- has yet to demonstrate a
mission to help people navigate
Canada that monitor more day loans. what was intended to be
cial practices, made sense of urgency that
the frustrating path to financial
than four million local and According to Stephen A. a small, one-time loan
worse by the deceptive could provide solutions in
literacy and will motivate atten-
national businesses and Cox, president and CEO turns on a debt spigot
way products are mar- proportion to the real
dees to become educated and
charities. of the Council of Better that is far more difficult
keted. Scant regulation problems people suffer—
change their behavior in a posi-
So when this advocate Business Bureaus, “Des- to turn off. Often operat-
and enforcement, more like depleted family fi-
tive manner. They will leave
for fairness and trans- perate times are leading ing without state licenses
than uninformed con- nances or lack of health
with a better understanding of
parency issues a written people to the Internet to and with no geographic
sumers, are the twin rea- care.
the financial planning needs of
boundaries, online sons for the myriad of The theme of this
the average American. For
lenders are given access problems incurred from year’s national consumer
more information, call 412-
and information on bor- payday loans, credit observance is “Nuts and
782-5344 or e-mail volunteer-
rower bank accounts that cards, overdraft fees and Bolts: Tools for Today’s
sofamerica@voapa.org
siphon off funds with toxic mortgages. Economy.” It seems that
each lending cycle, leav- Late last year, the U.S. an effective federal regu-
Business series
ing fewer available funds House of Representatives lator, like a CFPA, could
MARCH 11—The Carnegie Li-
and no legal protections passed legislation to cre- be the ‘tool’ America
brary of Pittsburgh will host
under state laws. Funds ate a new and indepen- needs.
their Business Program Series
deducted from most bank dent Consumer Financial (Charlene Crowell is the Center
from 12:15-1 p.m. at the
accounts wind up paying Protection Agency. For for Responsible Lending’s commu-
Downtown and Business
fees and interest—but several months, the mea- nications manager for State Policy
branch, 612 Smithfield St. The
not the principal bor- sure has lingered in the and Outreach. She can be reached
topic is “Home Buying Based in
rowed. U.S. Senate Banking at Charlene.crowell@responsible-
2010: What You Need to
Ironically, the consumer Committee, whose mem-
lending.org.)
Know.” Diane Scabilloni of Vic-
alert issued by the BBB
torian Finance and Tracy Janov
came during the annual
of Prudential Preferred Reality,
observance of National
will lead the discussion on how
Consumer Protection Lecture series
to find and qualify for the best
Week, March 1-7. When
loan to fit one’s personal finan-
President Barack Obama On March 25 the Economic Club of Pittsburgh will host James E.
cial and lifestyle goals, how to
signed the proclamation Rohr, chairman and CEO of PNC Financial Services Group from
work with a Realtor to create
Feb. 27, he said in part, 11:45 a.m.-1:15 p.m. at the Omni William Penn, 530 William Penn
and identify one’s home “wish
“Consumers should know Place, Downtown. The topic to be discussed is “The Banking Sector
list” and tips for finding prop-
their rights and should in 2010:A Year of Challenges and Opportunities.” Reservations are
erty with the highest potential
learn about goods and ser- required and the cost is $30 for members, $40 for non-members
for appreciation. This event is
vices before they buy.” and $20 for students. For more information, call 412-762-2671 or e-
free and open to the public. For
From the perspective of mail
reservations@econclubpgh.org.
more information, call 412-
281-7141.
‘Real deal’ on real estate
Professional networking
MARCH 11—Jessica Lee and
Pittsburgh Gateway Corp. will
host “Entrepreneurial Thurs-
CONTINUED FROM C1
ing on the matter, if you cannot identify
days” from 5:30-8 p.m. at Little
be the case but for the most part you where $40,000 is going, surely $200 will
E’s, 949 Liberty Ave., Down-
will materially participate whether it be flow through your hands like sand. If
town. This week’s theme is
finding tenants, repair work, mainte- they wanted to reap an extra $200 per
“Sport and Athlete Entrepre-
nance work, collecting rent and/or evict- month they could do a number of things
neurs.” This is a professional
ing tenants. and avoid the risk of $100,000 debt
networking event with live jazz/
With the right knowledge, circum- such as better manage cash flow on
R&B music. There is a $10
stances and expectation, real estate can business, allocate a few more dollars to
cover charge with a full bar and
be a great investment. Too often I run advertising or simply work a part-time
dinner selections. Business ca-
into people involved in real estate in- job.
sual is the attire. No jeans or
vesting who lack all three essentials. If you’re in the market to become a real
tennis shoes. For more infor-
For example, I once talked to a disabled estate investor there are a couple of
mation, call Sandy Marshall at
woman on a fixed income who could things you should do before hand.
412-802-6780 or visit www.jes-
barely maintain her own home, hold on •Become knowledgeable about the
sicaleesong.com.
to an investment property whose rent business of real estate investing includ-
payments equaled the mortgage pay- ing forecasting costs of repair work, set-
Networking luncheon
ment on the house. She had no cash re- ting appropriate rental prices, under-
MARCH 16—The Comfort Inn
serves in the event of a non-rent pay- standing how to measure rate of return,
& Conference Center will host
ment, vacancy and/or maintenance/re- knowing how evaluate risk versus re-
“Comfort Zone Networking
pair problem. This is a liability—not an ward, knowing how to screen tenants,
Lunch” from 11:30 a.m.-1 p.m.
investment! On the other end of the ex- etc.
at 699 Rodi Rd., Penn Hills.
treme I talked to a young couple who •Get your personal financial house in
This is a networking opportu-
own their own business. The business order. You don’t want to lose the roof
nity with lunch. Reservations
was moving roughly $40,000 per month over your head because of an investment
are required. The cost is $10.
yet the young couple had no idea where deal gone bad.
For more information, call
the money was going. In an attempt to (Mortgage and Money Coach Damon Carr is the
Sharon Pranis at 412-349-
supplement their income, they pur- owner of ACE Financial. Sign up for Damon’s
1622.
chased a six-figure real estate invest- FREE online “Ask Damon” e-Newsletter @
Spring job fair
ment property with an assumed $200
www.allcreditexperts.com. Damon can be reached
MARCH 17—The Community
per month positive cash flow. My think- @ 412-856-1183.)
College of Allegheny County
will host a Spring Job Fair from
9:30 a.m.-1:30 p.m. at the
Boyce Campus Student Ser-
vices Center, 2nd floor, 808
Ridge Ave., North Side. Atten-
dees should dress to impress
and bring several copies of
their resume. For more infor-
mation, call 412-237-2545.
Non-profit leadership
training
MARCH 19—Duquesne Uni-
versity’s Nonprofit Leadership
Institute will host “The Non-
profit Boarding School: Ju-
nior Year” from 8-11:30 a.m.
at the university’s Rockwell
Hall, Room 220, 600 Forbes
Ave., Uptown. This is a train-
ing program that addresses
the roles and responsibilities
of non-profit board members.
Attendees will learn about the
CEO/ board relationship, bet-
ter board meetings, board
committees and accountabil-
ity. Registration is required
and the cost is $50. Dis-
counts are available. For
more information, call 412-
396-6231 or e-mail
nli@duq.edu.
Network convention
MARCH 19—Talk Magazine
will host the 2010 Pennsylvania
African-American Network Con-
vention at 7 p.m. at the Holiday
Inn, 4751 Lindle Rd., Harris-
burg. The convention will con-
sist of wealth building and
health care workshops, a re-
ception honoring Pennsylva-
nia’s African-American Mayors
and more. The conference will
run through March. 20. For
more information, e-mail talk-
convention.2010@ljspublish-
ing.com.
(To have information listed in the
Business Calendar, send informa-
tion at least two weeks in advance
to: 315 E. Carson St., Pittsburgh,
Pa. 15219; Fax: 412-481-1360 or e-
mail: newsroom@newpittsburgh-
courier.com.)
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