Yes, we are not-for-profit. And yes, we have to make profit. Yes, we give back our profits to our members in the form of products, services, facilities, pricing and great people. And yes, we also must put some money away for a rainy day. If all of this “not-for-profit needs to make a profit” language is confusing, then you may be taking the phrase “not-for-profit” just a wee bit too literal.
So this dude in Pittsburgh decides to open a bank inside his ice cream parlor. He did not engage a bank to come in and fill some space. Nope! With his entrepreneurial spirit, he decided to do it himself.
Dear Secretary Shultz and Secretary Albright:
Thank you very much for your op-ed in last week’s Wall Street Journal. Your concern for excessive intervention by the government into the banking system was refreshing commentary. Unfortunately, your comments were specific to intervention by the Bangladesh government into the Nobel Peace Prize-winning Grameen Bank.
Neil Armstrong died this past week. For those of you who are too young to remember or not a trivia, history or space wonk, he’s the first guy who walked on the moon. For those of us who are older, you probably spent at least a minute or two over the past week reflecting on this historic moment. (more…)