Lansing State Journal from Lansing, Michigan • Page 57

E-3 It's 25 years for Sindona RONALD W. LICHTI joins our Lansing District Office 501 S. Capitol Lansing Tel. 485-9449 THE STATE JOOtXAL June 1 5, 1 980 3 4 fSSt, if if" By PALL SERAFINI Ron Lichti was born in Paso Robles, California and educated at California Polytechnic State University. Prior to joining Massachusetts Mutual he was associate ed for twelve years with Ciba-Geigy, an agricultural chemical products company, as sales representative market research analyst, and most recently as District Sales Manager for the State of Michigan.

With this experience, Ron is well aware of the impact of various economic and govern, mental factors on the State's agricultural and business stability. Backed by the facilities of our agency and the resources of Massachusetts Mutual, he is also equipped to present solutions to personal and businesss financial problems. Problems which are best met by life insurance and by Massachusetts Mutual, which ranks as tenth largest among all life insurance companies in the country. Ron will welcome the opportunity to be of service. LeROY C.

BOWERMAN PETER J. CHRIST, CLU, DISTRICT MANAGER GENERAL AGENT BATTLE CREEK -irjfiiiiMinfinrr X- a the new Massachusetts Mutual Life Insurance Company Springfield, MA 01111 NEW YORK (AP) Financier Michele Sindona, once one of Italy's richest men, was sentenced Friday to 25 years in federal prison as the perpetrator of the biggest bank failure in United State's history. He also was fined $207,000 and ordered to pay an undetermined share of the cost of his prolonged prosecution, which authorities said would not exceed the fine. Assistant U.S. Attorney John Kenney said the sentence was believed to be the stiffest ever imposed for a white-collar crime.

He added that "it shows that people in high places will receive sentences appropriate to their crimes." "This sentence," declared U.S. Attorney John Martin, "demonstrates that the rich and powerful will be treated the same as any other individual engaged in criminal activities." THE 60-YEAR-OLD Sindona, recently recovered from a self -administered, near-fatal dose of a heart stimulant, accepted the penalty with no display of emotion. As he was led out of the Manhattan federal courtroom, he had a wry smile for his daughter, Maria Elisa Magnoni, the only member of his family present. Sindona was convicted March 27 of defrauding the Franklin National Bank of $45 million, causing its collapse in 1974. He is appealing that conviction.

He also is wanted in Italy, where he is accused of a $225-million fraud involving two banks he owned there. "Mr. Sindona acquired control of an American bank by fraud and deceit," Kenney told the court before the sentencing, "and then used this bank for his own purposes in complete disregard for his responsibilities and obligations to others. The impact of his activities was disastrous." Franklin National was the nation's 20th largest bank, once boasting $3 billion in assets. IN SENTENCING Sindona, Judge Thomas Griesa said he was going along with a government contention that for the protection of the public and because of the "extraordinarily serious nature of the crimes, a substantial prison sentence and substantial fine is mandatory." Staff Photo by BRUCE CORNELIUS Commercial strip of West Saginaw in Delta Township Where did the farms go? The transformation of Delta CAN PROVIDE YOU TAX-FREE YIELD state and local taxes, where applicable, not considered 65 TAXABLE YIELD Comparable (with a $45,800 federally taxable income, joint return) to an equivalent if .00 EDITING WRITING for Science Business Technology THE EDITORS 339-8602 Name Learn more about Municipal Bonds, a way to earn Tax-tree income.

Send for a Tax Comparison Chart; a Booklet on Municipals; and a current list of Municipal Bond offerings. Mail coupon now. City CHARLES FEATIIERLY CONSTRUCTION COMPACT 484-2567 BRADEN METAL BUILDING SYSTEMS by BRAD E.N Slate SMtstsl a.in.1,11 ui uu ill IJI I I i5r 1 Sidney Forbes and Maurice Cohen pumped in an additional $6 million to refurbish it inside and out, add 40 new store spaces and provide thousands of new parking spaces and up-to-date lam caping. In addition, J.L. Hudson's Stores chose the Mall location for its first venture in mid-Michigan and added a new store that is rated highly successful.

ALL OF THAT now adds up to something like $80 million in sales annually in a space that 13 years ago was devoted to growing corn, wheat and alfalfa. The Delta industrial story is even quicker-paced. As late as the early 1960s, the Ralston-Purina grain elevator at Millett and a rough-cut lumber mill in the extreme northeast corner of the township were the only concerns that could have qualified as industries. Then came the original Oldsmobile parts warehouse on West Mt. Hope and a couple of steel fabrication plants along Waverly Road and the Air Lift followed by several truck and van lines and storage firms.

The vast Meijer warehouse operation centered at Creyts and Millett formed the nucleus of a warehouse-trucking center that is still expanding. The decision by General Motors last summer to locate its new diesel engine plant in Delta gave the township's industrial future a still brighter look. Buildings and machinery already planned amount to something like $181,400,000. Another major project scheduled for completion later this year is a $13 million printing operation by The Detroit News. The latter could become the township's third largest property owner by year's end.

Meijer Inc. and GM currently are No. 1 and 2, with ForbesCohen (Lansing Mall) in the No. 3 spot with a total 1980 state equalized valuation of $8,753,100. The Meijer valuation currently is $16,941 million and GM's $18,716 million, about one-third of which is actually carried on the industrial facilities (tax-abated) list.

ONE AMAZING figure that often baffles "outsiders" is that Delta manages to provide municipal services such as fire and police protection, sewage disposal and water service and maintain a library and a sizeable, up-to-date township park system for of 27,000 with a meager crew of 81 employees. "But that's really quite an increase, Township SuperintendentTreasurer Ivan Lootens commented recently, "when you consider we had only four in 1966." Concluded from page E-l THESE "BEDROOM wage earners" from Lansing weren't really taking much of their money out of the city. They still had to buy their automobiles, groceries, clothing and just about everything else in the city; only an occasional corner grocery or service station in the township got any of their dollars. In those days, M-43 was known" by Lansingites as "the road to Grand Ledge." It was rough, black-topped in some places and bare concrete in others, a narrow thoroughfare with gravel shoulders and plenty of dips and hills. It was in the mid-50s that Saginaw Highway underwent its first transformation.

Some of the dips and hills were removed and the road was widened to four lanes throughout most of Delta. There's another clue to what made Delta grow. Without the 1-96 expressway sweeping gently in a nine-mile arc across the township, it wouldn't have grown as fast as it did in the past 20 years. Adding I-496 in the latter part of the decade of the '60s again sparked a boom in Delta or so it seemed. The strip commercial zoning along Saginaw which came in the late '50s had little effect on the landscape at first.

Here and there a service station sprung up, but it wasn't until the expressways appeared that the service businesses started to appear in bundles. WHEN THE fast food boom hit America, Delta was ripe and ready. Here was a fertile three-mile stretch of highway leading from a major city to a major cross-state expressway, zoned on either side for commercial drive-in food service almost for the asking. And Delta didn't turn anyone away. Several "chicken-egg" situations developed in Delta late in the '60s.

Improved Saginaw Road seemed to be begging to take folks someplace, and about that time the Meijer Thrifty Acres people decided to build in the mid-Michigan area. The wide, open spaces of Delta afforded a natural for them, and soon Lansing food and clothing shoppers were making the five-minute drive out to the suburb to the west by the thousands. A few months later (July, 1969) the Lansing Mall opened its 67 doors, heralding what has been an almost steady stream of shoppers into Delta's ever-expanding central business core. Evidence of the continued good health of the Mall operation came last year when the developers LANSING OFFICE 700 American Bank Trust Building Lansing, Michigan 48933 (517) 482-1571 Phone Please send me: Tax Comparison Chart Municipal Bond Booklet Current Municipal Bond offerings MEMBER. SIPC rrrrrn i i 700 American Bank Trust Building I Lansing, Michigan 48933 LJ5I7) 482-1571 0928 mm mt exempt in the optntoti oi counsel.

Iwa all present Federal te taxes under rusting laws, regulations, rutinfs and judicial SKMS. STEEL POSTS i BRACKETS A HAr)WAE Be sureYyou get our quote I Dial Merrnll Lyitdt looked a summer job: at taeired sh Township courts more growth MYestinieiife 800-331-1000 Work as a Manpower temporary. Flexible schedules. Good pay. Assignments available in your college town or hometown.

Please call, toll free. Tl cloiily nicii seiecie Catalog available from: CALLENDER SIGN CO. 619 W. Harris St. Charlotte, Ml 48813 P.O.

Box 117 Ph. 543-4000 other utilities and land use. "I think we have a better balance of residential, commercial and industrial land than most cities. But we have to keep the community growing in a logical pattern," Chisholm said. "It's still a nice place to live.

People still want to live here. And business is still interested, too." 6 mew Hies. MANPOWER TEMPORARY SERVICES Concluded from page E-2 Despite putting in 10 to 15 nights a month, plus preparation time to handle his job as trustee, Brown said Delta doesn't need any more full-time officials: "Full-time politicians tend to make work and issues that are unnecessary to the well-functioning of the community. My personal preference is to keep part-time officials as much as possible." Delta is in the midst of revising the 1973 township comprehensive plan that set growth goals and boundaries. The project is about 80 percent complete and public hearings and approval are expected before the year's end.

BEING LOOKED AT are roads, storm drains, PH: 372-0880 r- TK5 VUTS ESS COPIER -i Come to a Seminar and learn all about tax investments and why there's nothing like having Merrill Lynch behind you. I'm Concerned Where YOU Are Concerned Call Anytime ORRIN "LEFTY" HAMILTON ALL STAR REALTY Home For Living Office Evenings 694 8181 694-8000 Tax investments (sometimes called "tax can be an invaluable tool for the investor in the 49 or higher bracket But along with reduced or deferred taxation jULVwiiLi and possible profit they can mean considerable risk. Of course, no one can eliminate all the risk. But, at Merrill Lynch, we have the Fast 20 copies-per minute speed letter size resources to make a significant difference. First, by being extremely selective in our Copies up to 11x17 choice of tax investments.

Next, by making sure that you the investor understand tax investments completely We select just a very few. We examine several hundred tax investments every ledger size Copies on virtually any paper year and typically consider only 3 or new ones suitable to add to our programs. Cation ANDERSON LANDSCAPE Residential Commercial Design Complete Landscape Senice Ph. 676-4741 DATERS FT I NUMBERERS feVl lamp-file jll 154 S. LARCH ST.

And we have over 50 professionals to work on these, from tax experts to economists to lawyers. They review, plan, and often negotiate the investmenL So, when you enter into a tax investment offered by Merrill Lynch, you know it has been carefully structured for tax advantages, risk consideration and profit potential. 200 PHONE 482-1 21 7 HASSELBRING-CLARK CO. 3942 N. East Street, Lansing We want you to understand tax investments completely What they can do, what they can't do, and whether or not they're suitable for your particular investment goals.

So we're inviting you to a special Tax Investment Seminar ur iff A I. in this area. jcoreooara gives rans a sTawmai iuox at the sports world daily in the sports section. You'll learn the key points to look for in a tax investment. How to minimize risk.

LET US DUPLICATE YOUR KEYS WHILE YOU WAIT! jThe crucial factor in the success of any tax investmenL The vital questions to ask before taking on any tax investmenL And more. When you walk out of our Seminar, you'll be ready to discuss tax investments with your advisers. And, if you decide they're Let Kelly pinch-hit during summer vacations. HOURS: 8 8-12 Iright for you, we think you'll know where to look. For your reservation for the Merrill Lynch Tax Investment Seminar, call Keys to Fit Any Lock Safes Repaired, Opened Locks for Every Purpose Keys Made While-U-Wait Door Closers Repaired Burgular Resistant Locks K517) 484-2581 or mail the coupon.

Time: 7:30 p.m. Date: Tuesday, June 17th Place: Long's Convention Center, 6810 S. Cedar at 1-96, Lansing grg E3 J3 mi bb ujj C3 C3 E3 B53 3 E3 B3 63 E3 63 E3 E3 tSTi After 6 1 Years Edward G. Hacker Co. is Stronger than Ever In an industry that underdoes uds and downs, merqers and constant change, the Hacker Co.

has always stood for reliability and dependability. Through all those years, we've maintained an unbroken record of success through continuous service to our clients. And in our 61st year, that stability seems even more impressive. We're excited to announce a new branch office currently under construction in East Lansing at 260 E. Saginaw.

Watch us grow as our fine community grows stronger than ever. Mail to: Name WE SELL SERVICE ALL MAKES OF LOCKS Including Such Names as: Schlage National Russwin Corbin Yale Lockwood 0 1 Address. City Merrill Lynch Attn: Robert W. Smith 1 14 S. Grand Ave.

Lansing, Ml 48933 Please reserve State. Zip. Business phone. Home phone 0 II I I INC Merrill Lynch customers, please give name and office address of Account Executive: I 1 seat(s) for me at your Tax Investment Seminar. There is no charge or obligation.

No, I cannot attend. Please send me information on Tax-Sheltered Investments. Available for any skill, anytime. FREE PARKING IN REAR EDUJflRD G. LrJ CHfOERc7 Phone 485-2261 19 vv 19 ii MimsB memi iK-fm tl Merrill Lvnch nerce renner fir smith Inc.

SERVICE? EEO MFH 482-1277 PHONE 485-9488 LiiDEacaQDcaQaDDaDQ A breed apart Cojjiyright 1980 Merrill Lynch, Pierce, Renner Smiih Incorporated. MemW (SIPC). J225 W. Washtenaw St. Lansing, Ml 48933.