A future in the business

Figuring out what you want to do for the rest of your life can be a daunting task.

For John Augustine , chief investment strategist for Fifth Third Bank, the decision came early.

Augustine, who spoke at the University of St. Francis in Joliet recently, said he had an older athletic brother who always would snag the sports section of the newspaper at the breakfast table. So Augustine said he was stuck reading the business section. But even as a child, he was fascinated with the business news, and he knew it was the field for him.

"I was trading stocks by the time I was in high school," he said.

So parents, if you want your child to be a financial whiz, leave the business section of the newspaper out on the table. With a little luck, maybe your child will be the next John Augustine. He manages a $25 billion portfolio for the bank.

We're No. 2: Will County has had the worst foreclosure filing rate in Illinois for quite a while. In March, the county fell to No. 2 on a list compiled by RealtyTrac. Kendall County was third. So who is No. 1 now? Boone County, which is near Rockford. The March foreclosure filing rate in Boone was one in every 285 households. In Will County, the rate was one in every 384 homes, and in Kendall, it was one in every 406 homes. The statewide rate was one in every 603 households.

Surge protectors: Glen Mazur , chairman of Joliet Junior College's Technology Department, said last week that high-tech devices, including computers and TVs, fail mostly because of power surges, not software problems. He said consumers should buy surge protectors with a UL rating of 330 volts (the lower the number the better) and a Joules rating of 1,200 or more.

"The more Joules, the better," he said.

A surge protector also should have an LED light that lets you know it is still working, he said.

Chamber muscle: As I concluded my interview last week with Mary Kay Campbell , the new executive director of the Lockport chamber, I asked her if she was a runner. I could tell she was in great shape. Her answer took me by surprise. She said she's been lifting weights since she was 21.

"That is the secret to the Fountain of Youth," she confided.

If she's an example of what weight lifting can do, I'm going to start pumping some iron asap.

Kudos Korner: Will County Treasurer Pat McGuire is trying to do something about all the foreclosure activity in Will County. He co-sponsored a Smart Money 2008 seminar last week at Joliet Junior College. He's holding a foreclosure prevention seminar at St. John's Missionary Baptist Church in Joliet on May 3.

McGuire also plans to tuck a helpful brochure in 267,523 property tax bills this year. The brochure will tell taxpayers where they can get financial counseling. In the past, the brochure went only to taxpayers whose delinquent taxes already had been sold. Great idea, Pat!

Quote of the week: "I'm not saying there is no waste, fraud and abuse. This is Illinois. We elect waste, fraud and abuse." -- Ralph Martire , executive director of the Center for Tax and Budget Accountability, commenting on the state budget during Money Smart 2008 at Joliet Junior College.

If you have a business tip, story idea or question, please call Cindy Wojdyla Cain at (815) 729-6044 or e-mail her at mailto:ccain@scn1.com?Subject=Story.Response