In the wake of the financial crisis, investors are faced with astark choice: entrust their hard-earned dollars to the Wall Streetcasino, or settle for anemic interest rates on savings, bonds, andCDs. Meanwhile, small businesses are being starved for the creditand capital they need to grow. There's got to be a better way.
In Locavesting: The Revolution in Local Investing and How toProfit from It, Amy Cortese takes us inside the local investingmovement, where solutions to some of the nation's most pressingproblems are taking shape. The idea is that, by investing in localbusinesses, rather than faceless conglomerates, investors can earnprofits while building healthy, self-reliant communities.
- Introduces you to the ideas and pioneers behind the localinvesting movement
- Profiles the people and communities who are putting their moneyto work in their own backyards and taking control of theirdestinies
- Explores innovative investment strategies, from communitycapital and crowdfunding to local stock exchanges
With confidence in Wall Street and the government badly shaken,Americans are looking for alternatives. Local investingoffers a way to rebuild our nest eggs, communities, and, justperhaps, our country.
|Product dimensions:||5.40(w) x 8.40(h) x 0.70(d)|
About the Author
Amy Cortese (New York, NY) is a financial writer who has spent her career writing about business, finance, environmental issues and food, giving her a unique perspective on how these different realms are intricately linked. Her work has appeared in the New York Times, The New York Times Magazine, Business Week, The American, Mother Jones, Wired, The DailyBeast.com, and many other publications. Cortese was previously senior vice president at online investment bank Wit Capital in the late 1990s. Throughout her career, including five years as an editor for Business Week covering high-tech and Silicon Valley, she has taken complex topics and translated them into accessible, engaging prose for a general audience.
Table of ContentsPreface: Starting Anew vii
Introduction: Cereal Milk for the Gods xv
Part One The Economics of Local 1
Chapter 1 Motherhood, Apple Pie, and Political Theatre 3 How We Are Failing Our Small Businesses
Chapter 2 Blue Skies, Pipe Dreams, and the Lure of Easy Money 19 Our Financial Legacy and its Unintended Consequences
Chapter 3 Buy Local, Eat Local . . . Invest Local 31 Reconnecting Investors and Businesses
Chapter 4 The Local Imperative 47 Leveling the Playing Field
Part Two Experiments in Citizen Finance 63
Chapter 5 The Last Real Banker? 65 Relationship Banking Is Not Dead – Yet
Chapter 6 The Biggest-Impact Financial Sector You’ve Never Heard Of 79 Community Development Loan Funds Reach Out to Individual Investors
Chapter 7 A Model to LIONize 95 How One Pacifi c Northwest Town Engineered a Quiet Revival
Chapter 8 Community Capital 105 It Takes a Village, or a Police Force, or Perhaps Some Farmers
Chapter 9 Pennies from Many 125 When Social Networking Met Finance
Chapter 10 Slow Money 147 Finance for Foodsheds
Chapter 11 From Brown Rice to Biofuels 159 Co-ops on the Cutting Edge
Chapter 12 The Do-It-Yourself Public Offering 181 The Allure of Public Venture Capital
Chapter 13 Back to the Future 199 The Rebirth of the Local Stock Exchange