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This year, under new Administrator Howard Samuels, the S.B.A. has switched to looking for middleclass, college-trained Negroes with enough business experience to give them real potential for success. Searching for more of them, Samuels has opened storefront offices in ghettos. He is also stretching the S.B.A.'s $1.1 billion loan kitty by guaranteeing loans made by private lenders, has lined up support from dozens of major banks. Last week five of Manhattan's largest banks agreed to provide up to $50 million to help minority businessmen. A consortium of 23 Houston banks has pledged...

Author: /time Magazine | Title: Business: THE BIRTH PANGS OF BLACK CAPITALISM | 10/18/1968 | See Source »

...wryness, a lot of closeups-and a welcome touch of humor besides. Peter Ustinov, who co-authored the script with Ira Wallach, plays Marcus Pendleton, a waddling con man with a surefire scheme" to steal millions by zonking a mammoth computer. He opens up storefront offices all over Europe and has the rigged machine send him large monthly checks. After seeding millions away all over the Continent, Marcus settles down to a life of financial bliss with his scatterbrained secretary (Maggie Smith) who imperils the whole operation by accidentally discovering large amounts of foreign currency in her husband...

Author: /time Magazine | Title: Cinema: Crime Without Punishment | 10/4/1968 | See Source »

State of War. The Panthers are the largest and fastest growing of the ultraradical Negro groups. Lately, Panthers have been opening dingy storefront headquarters in Los Angeles, Seattle, Newark and Washington, D.C. Chapters are rapidly being established by Stokely Carmichael, who, along with some other former members of the Student Nonviolent Coordinating Committee, has switched to the Panthers. Estimates of their national membership run from just under 1,000 to upwards...

Author: /time Magazine | Title: Extremists: The Panthers' Bite | 9/20/1968 | See Source »

...street workers, often storefront graduates themselves, make the initial contact with a promising dropout. Upon entering the academy, a youngster takes a bedrock curriculum of reading, English grammar and arithmetic. Once attending regularly, he moves on to a storefront Academy of Transition, where the spectrum of courses is broader and the teachers-often college graduates disillusioned with the public schools-attempt to stimulate his interest in further learning...

Author: /time Magazine | Title: High Schools: Academies for Dropouts | 8/2/1968 | See Source »

Soul Food and Shirts. In Watts and other mostly Negro areas of Los Angeles, "Operation Bootstrap," sponsored by private and corporate donations, operates a dozen storefront schools, giving instruction in such courses as computer programming, Swahili, and microwelding. "We consider everything that goes on here a school," says Co-Founder Lou Smith. Aimed primarily at preparing dropouts for available jobs rather than college, the program helps pay its own way by mining the talents of the students, who have published books on Afro-American history and designed African-style shirts and dresses that were featured at a fashion show...

Author: /time Magazine | Title: High Schools: Academies for Dropouts | 8/2/1968 | See Source »

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