Local Entrepreneur Spearheads Hurricane Relief Effort

A local entrepreneur who owns a business in Mississippi damaged by Hurricane Katrina is spearheading a statewide relief effort. It's called Wisconsin Cares About Mississippi, and its purpose is to get businesses from around the state to donate Wisconsin-made products to the hurricane relief effort.

Jack Riopelle, owner of Wisconsin Film and Bag in Shawano, is leading the effort. Riopelle is donating the use of an undamaged warehouse he owns in Mississippi as the distribution center.

"I just felt that as a businessman who has access to wonderful people in the business community with big hearts, that maybe it was my turn to do something," said Riopelle.

So far, more than a dozen Wisconsin-based companies have agreed to help with the relief and donate goods. The Salvation Army will be handling the distribution.

"Operating from the facility in Mississippi, the Salvation Army will be able to accomplish even greater effectiveness in the complicated tasks that lie ahead," said Major Bob Fay.

Wisconsin Cares About Mississippi isn't just a relief effort for businesses. Organizers are hoping Wisconsin residents make monetary donations to the relief effort as well.

Riopelle expects the campaign to last at least several months. You can make a monetary donation starting Friday at any Associated Bank or M & I Bank in the state.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.