No kidding… it was a dark and stormy night raining like cats and dogs. As was the custom, I had accompanied my father to town after a day of work in the field. It was a weekly pilgrimage to the altar of commercialism when we would sell our week’s work, a can of cream, and dad would sit at Albert Eshe’s service station and tell the same stories and joke told every week in an untold multitude of tiny prairie towns.
I would seek out my friends all of whom where the product of the same rural existence and we would cavort. This night was wet and windy filled with the excitement of climatic pyrotechnics and the thrill of intrigue, which was not an abundant commodity on the prairie. We ran to escape the torrent and ducked into the door way of Gordy’s Tavern. Giggles and titters of youth were soon extinguished by a sinister unseen voice from the darkness, “What do you boys think you’re doing here?”
I am about to be asked a question not dissimilar to the one I was asked decades ago in that dark doorway.
“In today’s market where we are starting to see more defaults, how has your underwriting and due diligence changed in originating a transaction compared to prior years?”
While Finance Fund spends some additional time looking at external credit reports it should be remembered we have been working with and funding marginally acceptable projects for a long time. The corporation has developed around the ethos that distressed communities have value. It is not always obvious or even self evident but experience has shown that we have never worked in a community, no matter how distressed, and not found value. Our interpreted mission is to create value from the value already in existence. It is an imperative that we keep one foot on the street, no matter how sophisticated we think we are, it must be remembered who we are and what we are about.
No matter if we’re in a boom or bust we have experience working in this climate. And in the midst of this “dark and stormy night” that’s what we think we’re doing here.
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on Thursday, May 14th, 2009 at 10:44 pm and is filed under Commentary.
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What are we doing here, you ask?
written on May 14th, 2009 | by James R. Klein
No kidding… it was a dark and stormy night raining like cats and dogs. As was the custom, I had accompanied my father to town after a day of work in the field. It was a weekly pilgrimage to the altar of commercialism when we would sell our week’s work, a can of cream, and dad would sit at Albert Eshe’s service station and tell the same stories and joke told every week in an untold multitude of tiny prairie towns.
I would seek out my friends all of whom where the product of the same rural existence and we would cavort. This night was wet and windy filled with the excitement of climatic pyrotechnics and the thrill of intrigue, which was not an abundant commodity on the prairie. We ran to escape the torrent and ducked into the door way of Gordy’s Tavern. Giggles and titters of youth were soon extinguished by a sinister unseen voice from the darkness, “What do you boys think you’re doing here?”
I am about to be asked a question not dissimilar to the one I was asked decades ago in that dark doorway.
“In today’s market where we are starting to see more defaults, how has your underwriting and due diligence changed in originating a transaction compared to prior years?”
While Finance Fund spends some additional time looking at external credit reports it should be remembered we have been working with and funding marginally acceptable projects for a long time. The corporation has developed around the ethos that distressed communities have value. It is not always obvious or even self evident but experience has shown that we have never worked in a community, no matter how distressed, and not found value. Our interpreted mission is to create value from the value already in existence. It is an imperative that we keep one foot on the street, no matter how sophisticated we think we are, it must be remembered who we are and what we are about.
No matter if we’re in a boom or bust we have experience working in this climate. And in the midst of this “dark and stormy night” that’s what we think we’re doing here.
This entry was posted on Thursday, May 14th, 2009 at 10:44 pm and is filed under Commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.