BUSINESS MEMO

SIKESTON -- Federal Land Bank Association of Southeast Missouri elected Ted Streete of Caruthersville and Mike Nelson of Poplar Bluff to three-year terms on the board of directors. They were elected at annual sectional meetings at Kennett and Sikeston last week.

Streete is a grain and cotton farmer in Pemiscot County and has been a Land Bank member for 18 years. Nelson, a member for 12 years, is a rice and grain farmer in Butler County.

They will join six other Land Bank board members including Fred Ferrell of Charleston as chairman; Charles Parker of Senath as vice chairman; Dan Jennings Jr., Sikeston; Howard Murphy, Poplar Bluff; Jim Yount, Millersville; and Jake Fisher, Portageville.

The stockholders elected a 1993 nominating committee consisting of Mark Rolwing and Steve McClanahan of Mississippi County; Wade Parker and Andrew Eftink of New Madrid County and Bill Holliday of Butler County.

Branch Secretary Sue Neal of Portageville was honored for 30 years of service. Sikeston's Anna Harper, executive secretary, was honored for 15 years. Those acknowledged for five years of service included Vice President\Branch Manager Paul Gard, Poplar Bluff; Appraisals Vice President Lloyd Pruiett, Sikeston; and Branch Secretary Mary Winkler, Jackson.

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Donna Domian and Robert Etherton of the financial services firm Edward D. Jones & Co. will host a satellite seminar for retirees Tuesday Aug. 25, entitled "Rising Income Strategies for Retirees."

The program will feature Jack Phelan, retired national sales manager of Edward D. Jones & Co., and Graham Holloway, retired national sales manager of American Funds, one of the nation's oldest and largest families of mutual funds.

"With the recent collapse in interest rates, we believe offering programs like this to our retired customers and friends is crucial," Domain said. "The greatest challenge many of these investors face today is trying to replace income by the five-year decline in short-term rates. For many investors who are retired or are nearing retirement, this is more than just an academic issue. In some cases, it has significantly reduced their standard of living and quality of life."

The program is free, but seating is limited so call 335-6681 for information and reservations.

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The Internal Revenue Service reminds people who make estimated tax payments that the third installment is due Sept. 15.

The payment should be sent to the IRS along with the third quarter payment voucher from Form 1040ES, Estimated Tax for Individuals. The IRS asks that you write your social security number and the words "1992 Form 1040ES" on the check.

The IRS says that if you expect to owe $500 or more in federal tax at the end of the year, you probably should be quarterly estimated tax payments. Although retirees and business people are most often affected by this requirement, it can potentially apply to anyone who receives income not subject to withholding, such as unemployment benefits, capital gains, interest, dividends, and rental income.

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JEFFERSON CITY The National Federation of Independent Business, the state's largest small business organization, saluted Rep. David Schwab for a 100 percent voting record on issues pertaining to small business during the 1991 and 1992 legislative sessions.

"Rep. Schwab's voting record proves that he recognizes the vital role small business plays in employment, new job creation, economic development and paying taxes in our state." said Randy Scherr, state director of the National Federation of Independent Business/Missouri.

NFIB/Missouri rated legislators based on their votes on issues such as workers' compensation reform, small group insurance reform, business fees, and universal health care.

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Spartech Corporation, which has two operations in Cape Girardeau, has announced plans to expand and upgrade its Spartech-Franklin Plastics compound unit located in Kearney, N.J.

Spartech's two local units are, Resin Exchange in Nash Road Industrial Park, and Atlas-Alchem Plastics, One Atlas Drive.

According to President and Chief Executive Officer, Bradley Buechler, the plan will be implemented in two phases over the next 18 months to the cost of $1.75 million.

The upgrades combined with new laboratory equipment should increase the unit's production capabilities by more than 30 percent.

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SIKESTON The Missouri Small Business Development Centers, Missouri Highway and Transportation Department and the Associated General Contractors have teamed up to provide disadvantaged business enterprises with a series of workshops designed for highway construction businesses across the state.

The next workshop, "Financial Management of Your Construction Company" will be held Aug. 21 at the Coach House Inn in Sikeston.

The seminar runs from 9 a.m. to 4:30 p.m. and is free but pre-registration is requested. To pre-register, call the Southeast Missouri State University Small Business Development Center at 314-290-5965.