by Rob Higgin A story is told in my family that my great-grandfather Ross Cooper and seven others created the Springhill and Parrsborough Coal and Railway Company in 1877. They built the railway from Springhill, New Brunswick, to the Bay of Fundy and established the town of Springhill and the mines. In their first year of business, 900 ships were loaded and sent to market.
Similar daring saw formation of the Powell River Company and establishment of the town of Powell River, again, by very few, who put their money where their shoes were.
Building a town from scratch took courage, ingenuity, vision and dollars. Does it require any less to ensure a town’s prosperity?
Investment funds drawn into a closer circle than is offered by the established houses of finance could fuel a meteoric rise in the well-being, amenities, ambience and diversity of our town.
In contrast to my aspirations for Powell River, I’ve been watching the brutality of hired thugs in Libya, Ecuador and India. Bullies, who learned their skills in the schoolyard, step up to a larger format in the world of finance. Going global used to make their bad acts invisible but thanks to bold people and the Internet we truly are a global village. Is it possible that some of our investments empower reckless and aggressive enterprises? And are we sure we can continue to rely on their profitability?
Where we get and how we spend our money are our two most powerful and immediate votes. By those votes, all together, we make the world the way it is. Perhaps the “100-mile investment portfolio” and local currencies are steps one and two to ensuring honest enterprise and ethical profits.
It seems to me a simple formula. Given the number of intelligent people who reside in Powell River and the obvious benefits of concerted and centred attention, even a small amount of determination among the people who count could begin an exponential increase in sustainability.
The “Powell River Mutual Fund” would draw investment money from within the community of local investors.
It would be subject to all the regulations of the British Columbia Securities Commission.
It would be administered by a board of directors elected from the body of investors and be subject to regular investor reviews.
Applicants for investment funds would need to prepare comprehensive business plans and marketing strategies.
Social impact and environmental studies would need to be ratified by the community.
Investors would have the freedom to opt in or out.
The collective business acumen of the investors could be made a requirement of the applicant’s five-year plan.
Watching your money grow in the Powell River Mutual Fund could be as exciting as any foreign investment, because you’d also get to watch the town you live in flourish on the strength of its own residents.
Rob Higgin lives south of town and can be contacted at 604.487.1119 or through email [email protected].
