Table Of ContentThe Newsletter of The Hispanic Bar Association of New Jersey, Inc.
VOL. 4 No. 1 SPRING 1992
HBA MEMBER-HNBA PRESIDENT-ELECT MEETS
WITH MEXICAN PRESIDENT SALINAS DE GORTARI
To discuss the proposed North American Free Trade Agreement
HBA President Dan Guadalupe's How To Survive a
Installation Speech Recession, Part II
Page 2 Page 9
HBA Member and HNBA HBA Joins New York University
President-Elect Carlos Ortiz to Promote Career
and other Attorneys Meet Internship Program
with Mexican President,
Carlos Salinas de Gortari Page 11
Page 3
HBA Officers and Trustees
Directory
Two Past HBA Presidents
Ascend to The Bench Page 11
Page4
` Court Interpreters:
How Important are They?
Insurance Companies and H I S P A N I C
Guaranty Associations Page 12
The Inside Story. ——RBA R ——-
Page6 ASSOCIATION Buletin
Page 13
HBA Holds First 1992
l Mi hip Meeting.
Ma T AREER HBA Demographic Questionnaire
Page 8
= Page 15
HBA Opposes Modifications of f - ,
Habeas Corpus Statute. Employment Opportunities with
The Judiciary of New Jersey
Page 8
dd Page 17
HBA PRESIDENT'S INSTALLATION SPEECH
Comentario by:Dan Guadalupe
The following is my speech as Incoming Presi- key is the one that opens the bar that
dent of the Hispanic Bar Association given at divides the bench where the judge sits from
the 11th Annual Dinner Dance held at the the rest of the courtroom. It is our u-
Meadowlands Hilton, Secaucus, N.J., on Oc- nique privilege to cross that bar that makes
tober 19,1991. us different from any other Hispanic group
and what imposes on us a greater duty --
I feel it important for all Abogado readers
a duty to be the advocates for our communi-
to have the opportunity to understand my
ty as the counselors, the protectors, and the
message and my goals for the HBA.
defenders. No other Hispanic group can
Good evening, Honorable Judges and cross that bar and fight the legal battles for
Senators, distinguished guest, ladies and our community.
gentlemen, my name is Dan Guadalupe,
You well know the kind of Hispanic com-
and I am the new President of the Hispanic
munity that I am alluding to: the one that
Bar Association of New Jersey. Thank you
is displaced in legislative redistricting; the
so much for being here tonight supporting
one that is ignored for truly influential
the HBA. I have some brief remarks that
government positions, the one who has to
reflect my philosophy of what the HBA is
fight for a fair and equitable education, the
and where it should go.
one who has to reassert its citizenship time
There are very few occasions when the door after time after time. It is this very com-
of opportunity opens up for an individual- munity, Aspira, Mecha, Focus, La Casa De
an opportunity to lead others and effect Don Pedro the Statewide Chamber of Com-
change. That door has been opened for me merce, Hispanic children, the elderly, Col-
tonight, and I accept the challenge with ombianos, Dominicanos, Puertorriquenos,
honor and a deep sense of commitment. It Chicanos y Cubanos, Centro y Sur
is my goal to transform the HBA into the Americanos - These are the ones who
source of leadership that the Hispanic com- desperately need our leadership, our
munity of New Jersey so desperately needs. counseling and our support.
When I was younger, I competed in oratory Many of us, in our struggle to succeed in-
or Spanish forensic competitions in which dividually, turn back our faces and fail to
I always gave speeches from the writings see the missing link explaining why the
of an illustrious Puerto Rican attorney and 1980's was not the decade of the Hispanics
independence leader by the name of Jose De and why the same story may be repeated
Diego. As I look back, his writings taught in the 1990's. We in the Hispanic communi-
me one thing that I have brought with me ty need leaders. The Hispanic community
to the HBA. It is the knowledge that at- is presently a ship without a helm.
torneys are the source of leadership for any
My belief is that Hispanic Bar Associa-
society. By virtue of our training in the art tions, both local and national, should
of advocacy and critical analysis, in defin-
become that helm. As president of the HBA
ing what is and is not just, we occupy a very
during this new term, my goal is simple; to
special place in the forging of our nation.
make the resources of our members, and our
However, as Hispanic attorneys, the whole leadership, available to our community, not
picture changes.
just by way of letter or by being present at
As Hispanic attorneys in this nation, in this some dinner dance, but by becoming true
State, we have a duty, a greater responsibili- advocates of the goals of our community in
ty to carry the torch of justice for the this state and satisfying the hunger for
Hispanic community. No one else in the leadership and advice that permeates our
Hispanic community is better suited to do community. The torch that will illuminate
the job. We have in our possession a key the way is there. We, the Hispanic at-
that cannot be taken away by any politician, torneys, only have to light it.
by any interest group, by any corporation,
Thank you very much.
or by any institution of government. That
HBA/HNBA Member Carlos Ortiz and Other Attorneys Meet with
President Carlos Salinas de Gortari
To Discuss the Proposed North American Free Trade Agreement
By: Estela De La Cruz
From left to right.- Carlos Reyes, President of Mexico, From left to right.- Mari Carmen Aponte, J. David Peña, Hon. Jim
Carlos Salinas de Gortari, HBA of NJ member/HNBA Coronado, Manuel Sanchez, Abelardo Valdez, A. Baltazar Baca, Hon.
President-Elect, Carlos G. Ortiz, Lic. Javier Zarco Cruz Reynoso, Mario Obledo, Dolores S. Atencio, Carlos Reyes, Presi-
Ledesma. dent Carlos Salinas de Gortari, Hon. Celeste M.C. de Baca, HBA of NJ
member/HNBA President-Elect, Carlos G. Ortiz, Richard Gonzales, Mary
T. Hernandez, Lic. Javier Zarco Ledesma.
A delegation representing the Hispanic Na- Hispanics in the United States will play a ma-
tional Bar Association (HNBA) met on January jor role in securing approval of NAFTA by the
10, 1992 with Mexican President Carlos Salinas U.S. Congress.
de Gortari to discuss the proposed North
Although the final draft of NAFTA has not
American Free Trade Agreement (NAFTA) and yet been completed, it is expected that its terms
related issues. Carlos Ortiz, President-Elect of
and effects will be good for all the people in the
HNBA, and member of the Hispanic Bar entire Western Hemisphere.
Association of New Jersey, as well as current
Once signed by President Bush, President
HNBA President, Dolores Atencio, were part of
the delegation which included a handful of Salinas and Prime Minister Mulroney, it will
leading Hispanic attorneys from all parts of the eliminate the many existing economic barriers
United States. to free trade, and will make all of us more com-
petitive in the emerging world economy.
The discussion with President Salinas was part
Hispanics in particular stand to benefit greatly
of a series of meetings with Mexican government
from increased opportunities to do business with
officials and business representatives, including
Mexico because of their culture, laaguage, and
Dr. Jaime Jose Serra Puche, Secretary of Com-
affinities to Mexico. As a result of the HNBA's
merce and Industrial Development, Mexico's
meetings with Mexican government and
Department of Labor, Mexico's Environmental
business leaders, Mexico appears ready, willing
Protection Agency (SEDUE), members of the
and enthusiastic to work with U.S. Hispanic at-
Mexican Senate, and representatives of the Mex-
torneys and other professionals to make the
ican private sector, including the Mexican Invest-
benefits of NAFTA descend to the benefit of all
ment Board, Bacomext and CEO's of leading
Hispanics. £
Mexican companies. The delegation also met
with United States Ambassador to Mexico, John The HNBA and many local HNBA Bar
Negroponte. The discussion centered on the Association affiliates therefore strongly support
status of NAFTA negotiations, labor and en- the proposed NAFTA and urge you to do the
vironmental issues, prospects for the rebounding same. The Hispanic Bar Association of New
Mexican economy, and business and professional Jersey is proud to have one of its own, Carlos Or-
opportunities for the Hispanic community. tiz, participate in these historic sessions.
HNBA and Mexican officials agreed that
TWO PAST HBA PRESIDENTS ASCEND TO THE BENCH
by: Estela de la Cruz
from the Human Resources area, and served
as counsel to the School Board Superinten-
dent of Elections.
Judge De Soto was promoted to Executive
Director of Human Resource Services with
the Newark Board of Education, being
responsible for all aspects of hiring and
discharge, salary and wage administration,
all benefits, teacher certification records, and
in addition, participated in labor negotia-
tions overseeing three labor-management
professional improvement committees. He
was a member of the Executive Superinten-
dent's Cabinet and was involved in the
development of policy and was the Certify-
ing Officer for the district with regard to
Civil Service matters. His supervision in-
volved 40 professionals and support staff
and administered a budget of $20 million,
serving the district's 8,700 permanent and
Judge Hector E. De Soto 3,000 temporary staff.
Thereafter, Essex County College, in
In October, 1991, Hector E. De Soto, one Newark, New Jersey was honored by having
of the founders of the Hispanic Bar Associa- Judge De Soto on its staff as Director of Per-
tion (HBA), ascended to the bench as sonnel from 1985 to 1988. This involved
Superior Court Judge in Essex County.
responsibility in hiring and discharge, wage
Judge De Soto has a proven record of suc- and salary administration, pension and
cess in the legal and human resource benefits, and numerous other employee-
management fields. His education and work related matters. It is important to note that
experience have provided him with a well- Judge De Soto was responsible for providing
rounded and solid background for his input at the policy level with regard to cur-
judgeship. rent legal employment issues and acted as
Judge De Soto is a graduate of Rutgers the Affirmative Action Officer for the Col-
University School of Law, in 1976. Initially, lege. He was then promoted to Special Assis-
he began to work as an Assistant Deputy tant to the President for Labor Relations
Public Defender with the State Public Ad- and Legal Affairs at the County College,
vocate's Office. Thereafter, Judge De Soto having maintained this position from 1988
was in private practice both in Newark and until he was appointed by Governor Florio
Hoboken, handling real estate, immigration, to the Superior Court Bench. He served as
S.S.A. cases and civil litigation as well as chief negotiator for the College in all collec-
municipal court cases. tive bargaining with the seven college
bargaining units, and served on the Presi-
In 1982, Judge De Soto joined the Newark
dent’s Cabinet in the capacity as in-house
Board of Education as Associate Counsel
counsel. He was also the Affirmative Action
from 1982 to 1983. This involved litigation
Officer for the College.
involving purchase contracts, revocation of
tenure, school election matters, Unfair Labor Judge De Soto resides in Newark, New
Practice and other related civil matters. Jersey with his wife and their two daughters.
Moreover, he handled real estate transac- Continue next page
tions for the school district, matters arising
where his first assignment was representing
and advising the Division of Youth and
Family Services (DYFS) in Monmouth Coun-
ty. Two years later, he joined the Tort Litiga-
tion Unit where he remained until his ap-
pointment to the bench in 1992. There he
represented New Jersey "Transit Bus and Rail
Operations, the State of New Jersey and
other state entities and employees as defen-
dants in personal injury actions under the
New Jersey Tort Claims Act. While in that
assignment, at the request of Attorney
General Kimmelman, he also helped coor-
dinate the Kosher Food Fraud Unit within
the Division of Consumer Affairs.
Among his professional affiliations beyond
the HBA, Judge Alcazar is an active
Judge Roberto Alcazar
member of the New Jersey State Bar
Judge Alcazar began his legal career as a Association, having chaired the Lawyers in
Deputy Attorney General in the Division of Public Employment Committee and the In-
Criminal Justice following his graduation terbar Relations Committee. He was also the
from Rutgers Law School-Camden where he Chair-Elect of the Minorities in the Profes-
was a lecturer in Law in the subject of sion Section, having actively participated in
Spanish for Lawyers. At the Division of the efforts to have the State Bar Associa-
Criminal Justice, he was assigned to pro- tion expand its Board of Trustees to include
secute "Medicaid Providor’’ fraud cases. two seats for minority representation at the
Simultaneously with his assignment to the top level in that organization.
medicaid fraud unit, he prosecuted many His tenure as president during the HBA's
matters involving violations of the Wage and tenth anniversary was noted with an exten-
Hour and Workplace Standard Legislation sive program of continued legal education,
and Violations of the Crew Leaders Act in and a greater presence in the Hispanic com-
the South Jersey farm area. This experience munity and the State Bar Association
launched him into coordinating the Sweat thereby promoting better communication
Shop Task Force and at the request of At- between the two. He was also instrumental
torney General Zazzali, he became liaison in the efforts to adopt the symbol ef the
between the Attorney General and the Com- HBA, our present logo.
mission of Labor. The mission of the task
force was to erradicate the proliferation of Judge Alcazar is presently sitting in
Industrial Homework and to identify and Elizabeth, New Jersey presiding over Union
prosecute violations of minimum wage and County Worker's Compensation matters. He
other abuses by unscrupulous employers. By resides in Elizabeth.
far, the greater number of victims were
We wish both Judge De Soto and Judge
members of the Hispanic community.
Alcazar the best of luck in their new
In January, 1983 the former HBA Presi- endeavors and wish to express our gratitude
dent went on to the civil side of the law by for all their efforts on behalf of the Hispanic
switching to the Division of Law, still within Bar Association of New Jersey.
the New Jersey Attorney General's Office,
GUARANTY ASSOCIATIONS ,, margarita Echevarria-
The inevitable comparison between the sav- what contract are covered, and to what extent
ings and loan debacle and the publized finan- a person can expect to be protected when an
cial difficulties of some insurers has increas- insurer becomes insolvent.
ingly drawn the attention of the public. Insurer
Who is Covered?
solvency concerns have led to an increased
focus on legislation limiting insurer in- (1) regardless of residence: beneficiaries,
vestments, requiring annual auditing of finan- assignees or payees of policyowners describ-
ed in (2) below.
cial statements and educating consumers on
the purpose of Guaranty Associations. (2) (a) resident policyowners of individual
policies and group certificate holders and
In fact, regulators prodded by such increased
contract-holders of unallocated annuity
scrutiny have sought to assure the public that
contracts or
a safety net does indeed exist in the form of
(b) non-resident owners of the above con-
Guaranty Associations. In 1984, for example,
tracts, but only under all of the following
when regulators in a number of states were
conditions:
grappling with the matter of rescuing Baldwin-
United contract holders, twenty-one states had (1) the policy is issued by a domiciled
not established any Guaranty Association. 'To- insurer;
day, all fifty states have enacted the necessary (2) the domiciliary insurer never held a
legislation to organize and fund their own
license where the non-resident owner
Guaranty Associations. (')
resides;
The stated purpose of such legislation is (3) the insured’s resident state has a
to provide funds to protect resident similar association; and
policyowners, insureds, beneficiaries, an-
(4) the insured is not elegible for cove-
nuitants, payees and assignees of life, health
rage by its resident association.
and annuity contracts (jissued by life in-
In sum, resident group certificate-holders
surance companies, against failure in the per- and resident individual and qualified non-
formance of contractual obligations due to the resident individual insureds will be covered.
impairment or insolvency of the insurer that Non-resident group certificate-holders will not
issued the policies or contracts. Guaranty
-be covered (‘).
Associations stand today as a state’s insurance
equivalent to “FDIC”. They are funded by im- Which Contracts are Covered?
posing an annual assessment on member- (a) Individual life, health, annuity and sup-
insurers authorized to transact an insurance plemental contracts issued by member in-
business in the state’) Member-insurers surer and
organized in a non-profit corporation called a (b) Group life, health, annuity and supplemen-
“Guaranty Association" are statutorily re- tal contracts, and individual and group long
quired to cover outstanding obligations of an term care policies and unallocated annui-
impaired or insolvent insurer under a court
ty contracts within certain limitations.
order of liquidation, rehabilitation, or conser-
What is the Extent of Coverage? (5)
vation. The Guaranty Association will pay the
benefits due under such an impaired/insolvent The benefits for which the association may
insurer’s contract. But, that is not their only become liable are the lesser of the insurer’s con-
recourse, they also have the power to guarantee tractual obligations, if it were not impaired or
such contracts, assume or reinsure such insolvent or with respect to any one insured
liabilities or arrange for the replacement of individual regardless of the number of policies
such policies by substantially similar or contracts:
contracts. (1) Life: $500,000 in death benefits, but
The following outline of New Jersey’s Life not more than $100,000 in net cash sur-
and Health Guaranty Act, effective January render and net cash withdrawal values;
1, 1991, will generally explain who is covered, Continues next page
(2) Annuities: $500,000 in present value "THE MISSOURI LIFE AND HEALTH INSURANCE GUARANTY
annuity benefits, including net cash sur- ACSOSVOECRIAAGTEI ON IS MPARY OVNIODTE D,P ROIVTI DMEA Y COBVE ERSAUBGJEE CTFO RT OT HISSU BSPOTLAINCTYI. ALI F
LIMITATIONS OR EXCLUSIONS, AND MAY BE DEPENDENT UPON CON-
render and net cash withdrawal values,
but not more than $100,000 in net cash TINUED RESIDENCE IN MISSOURI. THEREFORE, YOU SHQULD NOT
RSEULRYA NUCPEO NG UCAORVAENRTAYG EA SSBOYC ITAHTEI ONM ISISN OSUERLIE CTLIIFNEG AANND IHNESAULRTAHN CIEN -
surrender and net cash withdrawal values COMPANY OR IN SELECTING AN INSURER POLICY; INSURANCE COM-
for annuity benefits; provided, however TPHAEN IEESX IASNTDE NTCHEE IRO F ATGHEEN TSM ISASROEU RPIR OHLIIFBEI TAENDD BHYE ALLATWH FIRNOSMU RUASNICNEG
that in no event shall the association be
GUARANTY ASSOCIATION IN SELLING YOU ANY FORM OF AN IN-
liable to any one insured for more than SURANCE POLICY, OR TO INDUCE YOU TO PURCHASE ANY FORM
$500,000 in the aggregate for the above OF AN INSURANCE POLICY...”
States that have adopted this type of regula-
benefits;
tion have also generally required that a notice
(3) Health: Unlimited benefits; or be issued to policyowners of contracts (for ex-
(4) Unallocated Annuity Contracts: ample, variable contract) not covered by the
Guaranty Association. A list of the states
$2,000,000 in benefits.
which have recently enacted such legislation
Generally, contracts not covered by Guaran-
is provided below. (’)
ty Funds, to name just a few, include variable
Unquestionably, the enactment of Guaran-
life and annuity contracts, contracts issued
ty Association legislation by the fifty states
outside of the United States covering non-
has raised the comfort level of the insurance
citizens, and any portion of a policy under
buying public. It has not however resolved all
which the risk is borne by the owner. The
concerns regarding the ability of the industry
regulations also usually exclude those portions
to meet the demands triggered by insurance
of a reinsured obligation which the impaired
insolvency. Thus, the focus today is on whether
insurer has assumed or that portion of a con-
such associations are adequately funded to
tract to the extent its promised rate of interest
cover an ever increasing level of obligations.
exceeds the rates stated in the regulation.
It is reasonable to predict that in this cur-
Since policies in force have an average death rent environment, you will see further
benefit of $25,000 (9), most policyholders will
regulatory enhacement of this legislation.
be covered in the event of the impairment/in-
solvency of an insurer. FOOTNOTES
Among the problems regulators have recent-
1 The District of Columbia has aes established a
ly sought to avoid is consumer confusion about Guaranty Association to date.
the operation of, and or coverage available ? Generally, supplemental contracts and funding
through, state Guaranty Associations. To date, agreements are also included within the scope of
thirteen states have enacted or are in the pro- such legislation.
cess of adopting regulations requiring insurers 4, The Association may also cover insurers that were
to issue prior to or with each new policy a once authorized to do business in the state, for e.g.
New York, Wisconsin.
disclosure summary and disclaimer statement
^. A recent trend in amending Guaranty Association
concerning the limitations of that state's
legislation has been to limit coverage to residents.
Guaranty Act. Normally, the disclosure sum-
5, These figures may vary by state. For example,
mary explains the limits of coverage and
N.Y.I.L. Section 7708(b) allows coverage up to
amount of benefits available through the $500,000 in death benefits under life insurance
Guaranty Fund, while the disclaimer prohibits policies, no limit on coverage for group/individual
insurers and their agents from using the ex- health, and $1,000,000 for all benefits under any
group annuity contract. But see Texas Art. 21-28D,
istence of the Association to induce the pur-
Sec 5 (c) which covers up to $200,000 in health in-
chase of insurance. The message the
surance benefits.
regulators want clearly projected to the con- $. ACLI, Statistical Bulletin No. 90-11 (22/90)
sumer is that they should not rely on the
7. Alaska, Arkansas, California, Hawaii, Kansas,
availability of coverage under the Guaran-
Missouri, North Dakota, Ohio, Oklahoma, South
ty Association when selecting an insurer. Dakota, Tennessee, Texas, Wyoming.
The following sample disclaimer statement
Margarita Echevarria is one of the founding members
is the “Missouri Notice" which became ef- of the H.B.A. and served as its first President. She cur-
fective in April of 1989: rently practices in Newark, New Jersey.
HBA HOLDS FIRST 1992 GENERAL MEMBERSHIP MEETING
By: Estela De La Cruz
The first general membership meeting in outlined in a report submitted to the HBA
1992 was held at the Secaucus Meadowlands Board by HBA member, Regino De La Cruz.
Hilton on January 30th, commencing at ap- The Program's cost effectiveness, manage-
proximately 8 p.m. Attending were approx- ment and usefulness are all important issues
imately 50 members, many of whom were to be taken up with the HBA Board before
joining the organization for the first time. any final decision is made.
HBA President, Dan Guadalupe, presided
Finally, it was clear at this meeting that
over the meeting, which lasted for two hours the membership requests more general
and included an informal light buffet and a
membership meetings to take place, with at
cash bar.
least 2-3 weeks notice to be provided to HBA
Various topics were discussed which will members. A suggestion was also made that
be taken into consideration by the HBA they be dinner meetings such as those held
Board of Trustees, including the adoption of by other bar associations for the convenience
a mentor system for new attorneys where ex- and pleasure of HBA members. Thusly, the
perienced HBA attorneys, on a limited basis, next general membership meeting date
assist their new collegues in the legal pro- which was scheduled for April 23, 1992, has
fession. This suggestion was carried a step been postponed. The new date and location
further where it was requested that law is to be announced.
students be allowed to participate in the
mentor program. Other suggestions and re- PLEASE PLAN TO ATTEND THESE
quests were for by-laws to be drafted for the FUTURE HBA EVENTS
creation of different HBA chapters based on
geographic regions of the state which would APRIL, 1992: MUNICIPAL COURT PRAC-
allow easier accessibility to meetings, and TICE SEMINAR. This event will
thus promote having more general member- feature HBA members, including
ship meetings. The theory is that the dif- Judge Myrna Milan and Judge Jose
ferent regional chapters can in turn have one Fuentes, outlining and discussing the
meeting to correlate and unify efforts for essentials of municipal court practice.
commons goals. The location will be announced.
A motion was also passed by the general
Look for further details on this Seminar in the
membership present which allows the HBA
mail.
Board to look further into the feasebility of
the Lawyers Referral Service Program as
HBA OPPOSES MODIFICATION OF HABEAS CORPUS STATUTE
by Estela De La Cruz
On November 7, 1991, pursuant to the HBA destroy, rather than reform, our nation's
Board's resolution of October 29, 1991, the system of federal habeas corpus review.
HBA formally opposed the proposed statutory Reference was made to the sentence in Sec. 205
modification of the federal Writ of Habeas Cor- of Title II of the bill which would prohibit the
pus. HBA President Daniel Guadalupe wrote federal courts from granting relief based on
various letters to New Jersey Congressmen any claim which had been *'fully and fairly ad-
and Senators expressing the HBA's opposition judicated" by the state courts. The proposal
to S. 1241 and H.R. 1400, which are part of the did not require that the state court's prior rul-
1991 Crime Bill. ing have been right, but only that it have been
handed down in a procedurally orderly way.
Specifically, almost buried in this legislation
The concern was that even if the state court
is a single sentence which would virtually
Continues next page.
HOW TO SURVIVE A RECESSION
By: Luis R. Terrero, C.P.A.
This is the second of a series of articles that “Factoring” is often an alternative that is
will help your business survive, or perhaps overlooked. Given the right conditions, it may
even prosper, during the current recession. It be a viable option for a firm that has a large
is oriented to the small to medium-sized firms. amount of outstanding receivables. Factoring,
In the last article, we discussed several con- the sale of accounts receivable to a bank or
cepts which, if implemented, could greatly im- other financial institution, is attractive in to-
prove a business’ economic viability. day's economic environment. If your firm does
business in the governmental sector, you can
A thorough cash flow analysis is essential easily factor receivables from municipal, state,
because it allows you to spot trends and and federal agencies and organizations.
highlight inefficiencies. An analysis of cash
Receivables from Fortune 500 corporations are
flow, the receipts and disbursements of a
also candidates for factoring. The paperwork
business, is always useful but it becomes par-
when factoring receivables is not as extensive
ticularly important when a significant change
as compared to applying for a conventional
or milestone is reached, such as bringing in
loan. However, keep in mind that the effective
new partners, diversifying your services, interest rate that will be paid must be weigh-
significantly adding to staff, or opening a new ed against the benefits of the factoring
office.
arrangement. :
A key ingredient before the analysis is Finally smartly targeted marketing and
prepared is to have adequate financial records. public relations is essential for your firm.
You must keep detailed financial records that Advertising is only one aspect of a successful,
make sense for you as a business manager, and ongoing marketing effort. Yes, it is unusual for
not to the I.R.S. or your accountant. Your an accountant to say this but I believe that
firm’s general accounts should be in a system firms in the service sector must pay particular
that breaks Gown expenses, receipts, and other attention to marketing. Many articles and
categories into real-life specifics. Computerized books exist today that emphasize “making the
records greatly aid the preparation and customer king", ‘‘staying close to the
analysis of cash flows. For example, disturb- customer”, and upgrading the ''after the sale"
ing patterns can be highlighted relatively easi- component of your business. There are many
ly if the records are computerized. ways to focus on marketing. They range from
Cash flow analysis should be prepared every hiring a consultant to merely listening to tapes
12 to 18 months and updated every time the in your car. The key is to PLAN and implement,
firm contemplates a major change. monitor and evaluate the steps in the plan.
Louis R. Terrero, CPA, provides auditing, tax, and consulting services to business and individuals from his
office 69 Sommerset Street, Suite 110, North Plainfield, New Jersey, 07060. He may be reached at (908) 668-1206.
HBÀ OPPOSES MODIFICATION OF HABEAS CORPUS STATUTE
had erroneously rejected a valid claim, that the this is provided for by another section of the
prosecution had hidden evidence of the defen- crime bill. The change would do nothing to
dant's innocence from the jury, coerced a false foster efforts against violent crime, since
confession, discriminated by race or ethnicity habeas review affects only those offenders who
in selecting the jury, or fabricated the evidence have already been caught, convicted and
used to convict, the federal courts would be for- sentenced. Moreover, the federal courts’ power
bidden to intervene. is to ensure uniform application of the United
In effect, federal habeas corpus would be States Constitution in all fifty states. In view
reduced to an empty, time-consuming ritual, of the disproportionate high numbers of
concerned only with details of procedure rather Hispanic affected by the criminal justice
than with justice. It was argued that the so- system, this issue was of significant interest
called ‘‘full and fair" provision has nothing to to the HBA and was addressed by the HBA
do with accelerating habeas corpus and that president.
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Please call for brochures and sample illustrations.
MANUEL REY
Financial Consultant
Investment Broker
55 Essex Street, Millburn, NJ 07041
(201) 467-3404
Fax: (201) 467-9743 (800) 543-3404
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