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To: craig crawford who wrote (143004)	6/13/2002 11:51:30 PM
From: H James Morris	Respond to of 164684

Understanding and Avoiding a Nasdaq Delisting ebglaw.com

To: craig crawford who wrote (143004)	6/15/2002 11:39:15 AM
From: H James Morris	Read Replies (1) \| Respond to of 164684

>>ATLANTA -- The percentage of African Americans in the stock market is growing quickly and is closing in on the level of whites who invest. In fact, the latter is little changed since 1998. Those are among the findings of a survey recently released by Ariel Mutual Funds and Charles Schwab. It's the fifth annual study the two companies have produced. Previous surveys suggested that blacks were less likely to be in the stock market than whites because of a more conservative investment style and more of a preference for real estate as an investment. Distrust of the financial services industry also has been cited. But the latest survey suggests blacks have become more comfortable with the industry, based on an increase of those with brokerage or mutual fund accounts. "While we're clearly making progress, it's important to continue to reach out directly to our community and help promote greater diversity in the industry," Chairman John Rogers of Ariel said in a statement. The latest national survey involved more than 1,000 whites and blacks with household incomes of at least $50,000. The poll was conducted in January and February. Findings included: About 74 percent of the blacks in the survey own stocks or mutual funds, up from 57 percent in 1998. For whites, the percentage has grown to 84 percent from 81 percent. Recession and terrorism have caused few people to sell their holdings; 6 percent for blacks and 7 percent for whites. Long-term confidence in the stock market has been hurt by the volatility. The percent of blacks admitting their confidence has been shaken increased to 43 percent from 32 percent in 2001. For whites, the increase was to 25 percent from 15 percent. Nearly half -- 49 percent -- of African Americans say they think real estate is the best investment. The figure for whites is 31 percent.<< seattlepi.nwsource.com