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MICHIGAN PHONE COMPANY GETS FUNDING

 MICHIGAN PHONE COMPANY GETS FUNDING
 HAMTRAMCK, Mich., April 3 /PRNewswire/ -- Michigan's own long-


distance company, LDM, received a big boost on April 2 with the release of Michigan and city funding, enabling more rapid growth and the hiring of new employees in Michigan.
 The April 2 action was the approval, at its 10 a.m. regular meeting, by the Common Council of the City of Hamtramck of the funds release of the first portion of $550,000 in loans to LDM (officially known as Long Distance of Michigan, Inc.). The loan is part of the CDBG program -- Community Development Block Grant -- as administered by the Michigan Department of Commerce. This particular portion of the program is designed to bring additional jobs to needy communities by helping selected companies operating in those communities.
 Said LDM President and CEO Jerry Finefrock: "LDM provides long- distance telephone services to Michigan businesses, in competition with AT&T, MCI and U.S. Sprint. Our customers can call anywhere in the world, with the great fiber-optic clarity and quality they have come to expect, but with a guaranteed savings of 20 percent off AT&T's equivalent prices. That's 20 percent savings on in-state calls, interstate, and worldwide, at any time of the day or night. We are gaining many new Michigan business customers, because our savings are so much greater than they can obtain from the 'big three' long-distance carriers. But we keep those customers by great personalized services from our friendly Michigan employees. We appreciate the financial support of the City of Hamtramck and the State of Michigan, enabling us to accelerate our growth and to provide increased employment opportunities for Michigan residents."
 Larry Gormezano, development executive for the Michigan Department of Commerce at its Detroit office, was instrumental in arranging the CDBG financing for LDM. Gormezano said: "I feel this (LDM financing) project is a strong one with a lot of market potential, which is why we supported it in the first place. I also strongly believe it will go a long way toward creating jobs and strengthening the economy in Hamtramck and in Michigan."
 Present for Hamtramck Common Council's approval, and the signature of required documents by Hamtramck's Mayor Robert Kozaren, was Gerard J. Dettloff, economic development director for the City of Hamtramck. Dettloff, a tireless supporter of the LDM financing, said: "LDM will play a significant role in the revitalization of Hamtramck. It coincides with the city's planning efforts to diversify the businesses within the city. Some time ago, we welcomed LDM into the community, and we look forward now to working with them in their future business endeavors."
 -0- 4/3/92
 /CONTACT: Jerry Finefrock, president and CEO of LDM, 313-873-5500; Larry Gormezano of the Michigan Department of Commerce, 313-256-3706; or Gerard J. Dettloff of the City of Hamtramck, 313-876-7818/ CO: LDM; City of Hamtramck; Michigan Department of Commerce ST: Michigan IN: TLS SU:


ML-JG -- DE002 -- 4748 04/03/92 09:52 EST
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Publication:PR Newswire
Date:Apr 3, 1992
Words:492
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