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Friday, March 05, 2004

Investment done right 

This may be the most important story of this week, or the year.

In the long term, that is. Why allow huge corporations to handle the investment decisions for your community, if you can do it yourselves?

POWELL, Wyo. (AP) - When this rural town's clothing store closed, residents like Ken Witzeling put up money to start their own shop, ensuring that they wouldn't have to leave Powell to buy a dress shirt for work or trendy jeans for school.

Hundreds of people bought shares in the business, believing they were investing in more than just a clothing store.

"We sold this as, 'You're investing in Powell,'" said Witzeling, a retired pharmacist and member of the board that oversees The Powell Mercantile.

Community mercantile stores are slowly appearing in other parts of the West, where communities with small populations and uncertain economic futures struggle to attract new businesses, and where shopping centers are often a long drive away.

People in Ely, Nev., plan to sell shares in their own community mercantile, and leaders of existing stores in Montana and Wyoming say they field calls from people around the country interested in the idea.
(via AP)

This sounds an awful lot like the Solari concept developed by Catherine Austin Fitts.

The Solari concept answers, in a community driven and pertinent way, the question that the Bushogarchy does not want you to ask: Where is the money?

Now, if we could apply the same idea here in Philly, but to neighborhoods ....

corrente SBL - New Location
~ Since April 2010 ~

corrente.blogspot.com
~ Since 2003 ~

The Washington Chestnut
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