About the Post

Author Information

Economic Development is . . . (increasing the flow) of capital through the community and reducing its leakage.

The Farmer’s Vacation

A farmer walked into a bank in New York City and asked for the loan officer. He told the loan officer that he was going to Europe on vacation for two weeks and needed to borrow $5,000 and that he was not a depositor of the bank.

The bank officer told him that the bank would need some form of security for the loan, so the farmer handed over the keys to a new Ferrari. The car was parked on the street in front of the bank. The farmer produced the title and everything checked out. The loan officer agreed to hold the car as collateral for the loan and apologized for having to charge him a 2 ½ % interest rate.

Later, the bank’s president and its officers all enjoyed a good laugh at the farmer for using a $250,000 Ferrari as collateral for a $5,000 loan. An employee of the bank then drove the Ferrari into the bank’s underground garage and parked it. Two weeks later, the farmer returned, repaid the $5,000 and the interest of $23.07. The loan officer said, “Sir, we are very happy to have had your business, and this transaction has worked out very nicely, but we are a little puzzled. While you were away, we checked you out and found that you are a millionaire. What we can’t figure out is; why would you bother to borrow $5,000?”

The farmer replied:  “Where else in New York City can I park my car for two weeks for only $23.07 and expect it to be there when I return?”

The farmer’s “outside the box” thinking paid off when it came to finding a solution to parking his car. Like the farmer we need creative thinking in order to change our local economy.  I have been amazed in the people within the County that are truly “outside the box” thinkers. Everyone reading this article has the opportunity to come see what these creative minds have planned on Tuesday, February 26, 2013, from 5:30 p.m. to 8:00 p.m. at the Reinig Center in Toledo, the site of the Q1 2013 Pitch & Build.

Now before you tune out and say “I’m too busy to attend” (watching Dancing with the Stars or The Biggest Loser on television). Please consider this one point – without action – nothing ever gets done. In order for Tama County to change it will take EVERYONE realizing that they have to actually become INVOLVED. Attending the Pitch & Build 2/26 @ 5:30 is a great way to start becoming involved in the growth of YOUR County. All Tama County residents are STRONGLY encouraged to support these entrepreneurs by contacting joanne@tamacountyiowa.org  or 641-484-3108 to RSVP.

Or . . . you can continue to sit back and do nothing and ride down the slippery slope while things continue to crumble down around you. It is time to act, forget about Washington arguing over budgets and tax rates.  None of that means anything anymore.  It’s up to us in the small towns across the country to think “outside the box” like the farmer and then watch it pay off.


Tags: , , , , ,

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: