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PLAINDEALER - FRIDAY. AUGU8T 22,11 HVP« find There In Business McHenry Firm Rates Retire *After 30 Years "Great Performance" Farmer Cooperative Names Two Officers David Holtan and Stan Rosendahl have been hired as assistant vice-presidents by the Northeast Illinois Prod u c t i o n Credit association, Terry Sch- webke, president, has an­ nounced. Holtan will serve farmers from the PCA's Boone county office in Belvidere. Rosendahl will headquarter at the PCA's Woodstock office and concentrate primarily on McHenry county loan applications. The Production Credit association is a farmer- owned cooperative serving farmers in McHenry, Boone and Lake counties with short-term loans. Holtan, who was raised on a dairy and tobacco farm near Stoughton, Wis., graduated from Whitewater State university at Whitewater, Wis. in 1966, concentrating on a management curriculum. After working for a year as a systems analyst credit manager, he moved to Phoenix to work with a Phoenix bank in consumer and commercial lending. After 7Vi years at Phoenix he became finance manager for an insurance company in Scottsdale, Ariz. He was in charge of consumer and commercial lending in California and Arizona for Century Insurance. He and his wife returned to the Midwest last fall. His wife, Karen, is a native of Belvidere where her father, Harold Peterson, continues to operate a grain farm north of Belvidere. She was a teacher before focusing attention on raising their children, Michael 6, and Nicholas, 2. Rosendahl graduated last May from Illinois State university, majoring in management. He was raised on a farm near Gibson City, a grain farm his family continues to operate. Rosendahl, who is single, participated in football, basketball and track in high school and sang in three choruses. At ISU, he participated in a number of activities, and one of his jobs was management assistant in a residence hall. At the family farm several years ago, he became in­ terested in collecting Indian artifacts when outsiders approached the family with permission to dig. He now has a collection of over 400 artifacts, including axes, tomahawks and other valuable articles, and he looks forward to the op­ portunity to pursue his hobby in Northern Illinois and Southern Wisconsin. Looking At Real Estate (By Yvonne Beer, executive officer of the McHenry County Board of Realtors) » , The renegotiable rate mortgage (RRM) has been making its debut in many major markets since the Federal Home Loan bank approved the new mortgage financing plan earlier this year. /The RRM, a somewhat controversial type of mortgage, allows lenders and borrowers to renegotiate interest rates on home loans every three, four or five years. At that time, depending on an index or guide supplied by the Bank board, the lender could raise or lower the rate a maximum of Vi of 1 percent per year. Many lenders believe the RRM represents a revolution in home financing. The days of the fixed rate, long-term mortgage are numbered, they say. Others - including Jay Janis, Federal Home Loan Bank board chairman- contend that the fixed rate loan will not die. Heavy competition in the lending business will see to that, Janis says. But whether the RRM is as momentous as some claim, everyone agrees that home financing is changing. In the early 1900s, home buyers had four main sources for home loans- bank, savings associations, insurance companies, or wealthy individuals. Since many lending institutions as we know them today were in their formative stages, most FANTASY FARM CHILD CARE •LOWEST RATES *HOT LUNCHFS •STATE LICENSED 'INDOOR & OUTDOOR QUALIFIED TEACHERS PLAY AREAS ALSO AVAILABLE AFTER SCHOOL CARE FOR CHILDREN UP TO 10 YRS. Call Today 385-2499 Ages 2-6 Hours: 6:45 to 5:30 PM e U 1. U MEN & WOMEN 190Z W. MRIN Located behind Christopher's Men's Wear 344-5330 "Back-to-School" Special AUGUST 22 - AUGUST 30 FREEMAN LEATHER CASUALS 3800 Reg. 47.00 SUSAN'S SHOES Back-to-School" Special AUGUST 22 • AUGUST 30 95 PAIRS 49 MANY STYLES TO CHOOSE FROM! Opens Office *%• The Aetna Life & Casualty company of Hartford, Conn., recently announced that Stoffel & Reihansperger, Inc. of McHenry has been awarded membership in Aetna's Great Performance club for 1960. To become a member of the club an agency must meet very exacting standards in the fields of service, growth, and all around performance. Less than 20 percent of Aetna's agents throughout the country qualify as Great Performers. This is the sixth time that Stoffel 6 Reihansperger has been honored in the eight years since Aetna has established the club. Honored For Service of home financing was done by the wealthy. Terms also were different. A typical loan was for 50 percent of the value of the home, with full repayment due in a lump sum in five years. On the due date, the buyer would either review the loan at a new interest rate or pay off the mortgage by getting a new loan from some other source. During the Depression of the 1930's, thousands of homeowners were unable to renew their loans or obtain new ones. The result was a flood of foreclosures with many homeless and helpless. The Depression generation determined that there had to be a better safer plan and the fully amortized, long-term, fixed rate loan eventually evolved. In recent months, however, astronomical interest rates have made the fixed rate mortgage unreachable for many buyers. A surge in creative or other-than-convention jl- financing has developed. These methods - be they loan assumptions, land* contracts, wraparound mortgages, etc. - have acted as temporary bandages to the wounded mortgage market and have allowed buyers to skirt high interest rates. Though few can accurately predict whether these instruments or the renegotiable rate mortgage will dominate the market in the coming years, one thing's for sure - nowadays shopping for financing is akin to shopping for the home itself. RANDALL TARADASH Randall M. Taradash, an attorney, has opened a law office at 4213 W. Elm street. He graduated from the University of Baltimore School of Law in 1979 and the University of Missouri in 1970. The new member of the legal community belongs to the Illinois Trail Lawyers association, the American Bar association and the Illinois Bar association. A native of Lake county, he will be married in June of 1981 to another attorney. Before becoming an at­ torney, Taradash was an actor, a professional photographer, a teacher and a salesman in the electrical supply industry. ASK RATE INCREASE Commonwealth Edison has filed a request for a general rate increase with the Illinois Commerce Commission. The request for $628 million would increase rates approximately 19.7 percent across the board. The company asked that half the amount be granted on an interim basis to bolster Edison's financial position. A final decision could take as long as 11 months. "The hard facts are that we simply cannot go on supplying the high quality electric service our customers have come to expect unless we receive adequate rate relief," declared James J. O'Connor, Edison chairman ^nd president. Two area Avon Representatives were honored recently for over 30 years of dedicated service to their customers. Mrs. Gertrude Disney, 4408 Susdex drive, McHenry and Mrs. Amy Street, 3116 East Lake Shore drive. Wonder Lake received congratulations from district sales manager Mrs. Phyllis Bauer of McHenry. The two ladies each received a beautiful pair of handcut, lead crystal candlesticks commemorating the occasion, as well as a red rose, the symbol of the firm. Mrs. Disney, shown in top photo, started as a representative 35 years ago in Chicago, moving 10 years ago with her husband. Guy, to Whispering Oaks in McHenry. One of her most memorable experiences was a trip to Europe several years ago, highlighted by the Rhine River cruise. Mrs. Street was introduced to the Avon products at the age of five years when she received a gift of soap from her aunt. A year after she married her husband, Bud.she wanted part time work and chose to sell the company's products in Brookfield. Twenty- seven years ago, the Street family moved to Wonder Lake. Bryce Kiontz Named "Boss Of The Year" Bryce C. Kiontz, General Manager of McHenry Electric & Supply Co., Inc., has been named the 1980 "Boss of the Year" by the Crystal Lake Charter Chapter of the American Business Women's Association (ABWA). The award was presented by Lois Floyd, Corresponding Secretary, on June 12, 1980, at Branded Steak House in Crystal Lake, combined with the chapter's second Charter Anniversary. One of the highlights of the year for many of the oyer 1600 American Business Women's Chapters is the special annual event honoring and recognizing business associates, and to familiarize employers with the educational association. Each member has the op­ portunity of expressing her appreciation to her em­ ployer or coworker by ex­ tending an invitation to this sort of event. All members were encouraged to submit resumes about their boss or business associate; the resumes were then turned over to an outside judging committee for selection of the Boss or Business Associate of the Year. This selection is based on 3 key factors: The individual's contributions to the com­ munity, the individual's assistance in the develop­ ment of the employees' potentials, and the ad­ vancement and growth of the employees within the firm. This year the person selected "Boss of the Year" met all of these qualifications. An active member and Vice-President of the local Chamber of Commerce and Secretary of Kiwanis, until recently, a member of the zoning board, a member of the Private Industry council, and founder of the McHenry Area Political Action committee. These in­ volvements are all in­ dicative of a person with a vital concern for the bet­ terment of his community, In his capacity as general manager of the same firm for the past seven years, he has been instrumental in the growth of a seven-man company, to a firm that now employs 22 full-time em­ ployees. He helped in the establishment of an em­ ployee-shared cost, health, life and dental insurance, paid holidays, but most important, a tuition rebate program for all employees interested in furthering their education, and the sending of. employees to instructive seminars related to their jobs. • • • * We are a little bit suspicious of people who have everything arranged and accomplish their work en schedule. SPENGEL MEAT PACKING CORPORATION 'Where the TOP Area Restaurants Buy Their Meat" U.S. GOVT. INSP. EST. NO. 5701 Open Friday 'til 8:30 ENJOY THE BEST AT YOUR SUMMER COOKOUTS CALL US ABOUT OUR - Top Quality - STEAKS GROUND BEEF & ROASTS 5 LB. MINIMUM PER ITEM 1313 W. OLD BAY RD. PISTAKEE BAY • McHENRY, IL Monday thru Friday 9 am. to 3 pm. Satruday 9 am. to 1 pm. James Ogle (left), manufacturing manager, Charles Neugebauer, division manager, an<T James MacGUvray, general manager, present a retirement plaque to Orval Pufpaff, of McHenry, who retired this month after 30 years service to the Echlin Manufacturing company. Orval was „ transferred to the Brake Parts company in McHenry, a division of Echlin, in 1967 and has worked here since. A party was given in Orval's honor. Promote To Manager Kevin E. Barber, of McHenry, 111., has been named public relations manager in the Corporate Relations department of the Kemper Group. Mr. Barber is responsible for Kemper's media relations, public affairs, financial communications and community relations activities. He joined Kemper in 1976 in the community relations unit. In 1977 he was named financial communications editor and became corporate communications supervisor in 1979. A 1973 graduate of North Park college in Chicago, Mr. Barber sits on the board of directors of the McHenry United Way. He lives with his wife, Lyn, and son, Jesse. HUD In Property Sale The U.S. Department of Housing and Urban D e v e l o p m e n t ( H U D ) Chicago area office last Friday, released its fifth selling list for 1980, con­ taining 159 HUD-owned properties. The HUD properties, located in Illinois (with the majority in the Chicago area), will be sold through a sealed-bid auction to be held Wednesday, Aug. 27. Bids for the properties must be submitted to the HUD offices at 1 North Dearborn prior to 4:30 p.m., Monday. Aug. 25. H U D ' s h o m e - s a l e s program continues to draw considerable interest, ac­ cording to Elmer Binlord, HUD Chicago area office manager. "At the last HUD sale Aug. 6, we received 393 bids on 203 properties ad­ vertised," Binford said. "One hundred and fifteen properties were sold, in­ cluding six properties fully repaired by HUD under the Demonstration program with the National People's Action (NPA) coalition and the Greater Roseland organization. The Aug. 15 selling list describes another six homes for sale under this, program," Binford said. Expect 650 At Annual Land Bank Meeting More than 650 farmers and their wives are expected to attend the annual meeting of the Federal Land Bank association of DeKalb- Woodstock on Thursday evening, Aug. 28 at the Blue Moon restaurant in Elgin. John Webb, association president, will give farmers his best estimates on the availability of money for long-term loans along with his evaluation of the fluc­ tuation anticipated in rates. The Federal Land bank provides farmers with loans primarily for long-term capital improvements and for new farmland purchases. The DeKalb-Woodstock association serves farmers in seven counties: McHenry, Lake, Boone, DeKalb, Kane, DuPage and northern Cook counties. Ed Arndt, Malta, chair­ man of the board, will preside over this annual meeting. Entertainment will be provided by a popular musical aggregation. Election of directors is a major item on the agenda. Terms of Gene Simes, Hebron, and Arndt expire. Both will be up for reelec­ tion. Simes will be opposed by Ed Meier, Jr., of Crystal Lake, McHenry county! farmer. Arndt is opposed by Robert D. Gilmore, a Shabbona farmer from DeKalb county. Simes owns 290 acres and rents 800 acres in his grain farm. He also raises some vegetables. Meier, a vegetable farmer, owns 200 acres and rents 100 acres. Meier sells vegetables at both retail and wholesale. Arndt owns 590 acres, rents 280 acres, and manages 270 acres. He farrows-to-finish 1,500 hogs a year in addition to a grain operation. Gilmore owns 283 acres and rents 500 acres. He feeds 800 cattle and finishes 400 hogs a year in addition to his grain operation. 1815-385-8300^^^1 Adopt 4-Day Week Director Michael P. Mauzy announced that a four-day work week has been implemented on a voluntary basis for selected employees in the Illinois Environmental Protection agency's office at 2200 Churchill road in Springfield. A four day work week pilot program was implemented as a result .of supplemental negotiations between IEPA and the American Federation of State, County, and Municipal Employees in December 1979, for a period of six months. The pilot program was successful enough to warrant the Agency em­ barking upon a one year program. T h e e n v i r o n m e n t a l Protection agency is the first state agency or department to make a four-day work week available to employees at all levels in its organization. The program was developed by a joint labor management com­ mittee composed of management, clerical and technical personnel. The four-day work week consists of three 9.5 hour days and one 9.0 hour day, and employees have the option of either Monday or Friday off. Director Mauzy feels that it is the Agency's respon­ sibility to develop new and innovative procedures to conserve the nation's scarce resources. Currently there are 88 employees taking advantage of this program. from HISTORY'S SCRAPBOOK DATES AND EVENTS FROM YESTERYEARS August 14, 1945 _ President Horry S. Truman publicly announces the surrender of Japan. P *•£iS!?t }5t 1935 "I Humorist Wi" Rogers and pilot Wiley Post killed in plane crash at Point Barrow, Aloska. workday05*16 1923 ~ Carnegie Steel Corp. establishes 8-ho »r August 17 1933 - Baseball's Lou Gehrig sets consec i- Yo^Yankees° p,ayin9 in his 1 308th 9ame. for the Ne* r™ r!TSt 18' 1920 ~ Ratification of 19th amendment to Constitution gives women the right to vote. August 19 1871 -- Orville Wright, co-inventor of the air­ plane with his brother Wilbur, born in Dayton, Ohio. NdJlTS ~ President Gera,d R Ford nominates Nelson A. Rockefeller as vice president.