Buffalo Criterion, 1986-12-26

              thursday december 26 - january i ibm rochester serving | working leading in wny inner cities since 1923 — ■■———■ the buffalo criterion niagara region price only 20 per copy uljjiwi mmpppaapmßßßp wny's necessary minority newspaper — featuring paid legitimate circulation vol 60 — no 52 season's greetings new york financial aid chief warns against drastic federal aid cuts dr dolores e cross president of the new york state higher education services corp has warn ed that the gramm-rud man amendment requir ing a balanced federal budget by 1991 could have the most devastating effect on federal student financial aid funding of any piece of legislation passed by congress in recent history the measure signed into law on december 12th provides for the president's proposed spending cuts to take effect if congress fails to reach agreement on alter native spending cuts to meet the deficit ceiling for this fiscal year 19861 spending will have to be reduced by an esti mated 511 7 billion — a cut which could lead to as much as a five percent decrease in funding for higher education pro grams for the 1987 fiscal year the president's expected proposal to in crease military spending without increasing taxes could mean an estimated reduction of up to 30 percent in student finan cial aid including student loans pell grants and campus-based programs ' the corporation recognizes the need for a balanced federal budget and we applaud the president and congress for their efforts in this regard said dr cross however our concern is that the probable changes to student aid funding levels under gramm-rud man would severely affect postsecondary oppor tunities for new yorkers and would destroy the progress that has been made in providing educa tional access and choice federal all cuts supervisor lillis inspects samcost construction work at lexington-green sub-division in west seneca pictured from left thursday at the 20,000.00 lexington green subdivision flood control project performed by samcost construction ltd in west seneca are steve davcheck samcost employee carlo monti samcost employee nick costa st chairman of the board of samost construction ltd nick costa jr vice president of samcost joan f lillis supervisor of town of west seneca representing over 51,000 people west seneca highway superintendent edward f pendens and donald mendola principal engineering assistant with the west seaaeca engineering dept they are standing before a prefabricated concrete wall that the valve and gate will fit into samcost construction ltd employs 15 people with annual sales over 1 million samcost is located at 135 south avenue in west seneca supervisor lillis has begun this lexington-green subdivision for exten sive street and basement flood control the valve mechnism installed by samcost construction will close off storm sewers from buffalo creek during peek high water conditions this will prevent back up creek water into lexington-green and brian lane in west seneca samcost construction specializes in medium to small construction projects throughout western new york especial ly in the excavating field samco'-t has performed a number of federal state and county projects in addition to working with private corporations officials dedicated new alden correctional facility erie county executive edward j rutkowski monday led a contingent of local and state officials in dedicating the county's new 27 million correc tional facility in alden joining mr rutkowski ere state senator dale m volker n y st com missioner of correctional services thomas a coughlin ib assembly man l william paxon erie county legislator ralph m mohr and alden supervisor john g scherlein for the corner stone laying at the front entrance of the facility the county executive praised the cooperation of all levels of government and construction contrac tors in completing the project and said the collaborative efforts of many have produced a state-of-the-art facility which will long stand as a symbol of strength and hope facility citibank lowers minimum on money market account consumers interested in earning high money mar ket interest rates on their savings will soon be able to open accounts with deposits as low as 1.00 citibank has announced citibank nys n a is lowering the minimum balance for its insured market rate account formerly citifunds from 1,000 to 1.00 as the result of federal banking deregulation taking effect jan 1 1986 we re passing along the benefits of deregula tion to consumers citi bank president william l atwell said banks are no longer legally required to impose a minimum deposit on money market accounts so citibank is going to use that freedom to offer consumers what they want now customers with small savings can earn money market rates we know that consumers want to earn high rates on all their money — no matter how small their balances are a-weiv slltf citibank's insured mar ket rate account imra pays money market rates and allows customers to withdraw funds at any time without penalty there are no minimum withdrawal amounts re quired and no monthly service fee the rates for citibank's imra vary weekly according to gen eral prevailing market rates recent rates have floated around 7 percent ordinary day-to-day sav ings accounts pay 5 1 7 . what the new low minimum actually means is that all consumers — not just ones with high balances — can earn money on their savings it's a great way to build up a nest egg from a small initial deposit atwell said based on their lack of action last year when deregulation allowed banks to lower the minimum from 2,500 to 1,000 other banks may not think this phase of citibank new beginnings to sponsor musical the new beginnings choral ensemble will sponsor then kifth sunday night musical on sunday dec mi at 7:30 p.m at greater hop rapist church 8 verplank st at e utica hie public is invited to join them in a music filled evening of singing raises to the lord special guest choirs from throughout the city will participate operation push & adolph coors co signed a convenant operation push and adolph coors company signed a 325 million national incentive covenant the five year agreement calls for coors to invest in black businesses who can provide goods and services to the colorado brewery and to increase the number of black and minority employees shown above at the covenant signing at operation push headquarters in chicago are in front row from left dr llycel taylor push national board theresa f hooks coors commun ity relations field manager rev otis moss jr push national board chairman john meadows coors director of community relations rev willie barrow push national executive director rev bennett w smith of buffalo and pastor of st john baptist church push national board ivory crockett ( soon community relations regional manager rev william m watts sr push national board and rev conway e spears push national board in the rear from left are sally reyes lscaa coors community relations field manager j«.rhiic ij.ubert iish national board paula pete coors community relations assistant program manager and hey george e riddick push vice president see page 21 | see page 2 see page 2 • •''*"* j*a*tfi}p'.*qrll ■> 9 * oy_l_lif ljls » s mil vjktt 1 linlib w 91 f'sr yourself with i|§gf _ / \ pb ( der nixirc fc-ij vjkhh 1 linlib g # v , urround yourselfwith those you love and f f-m experience all of the ,^§^ beauty of the season t,'*djijfik ■ e£s&r j tcav^.^v^a 5 a joyous holiday seamn to ur staff contributors advertisers customers subscribers & well-wishers - - front — the buffalo criterion