Slow Money Alliance

Comment by William Ray Ford on November 26, 2010 at 12:50pm

Wendy always nice to see you as well. Sorry I was way too busy to chat you up and get caught up. Barb had taken ill and I had to staff the BEC both and was also helping keep tabs on the booth for the Corvallis Municipal Airport Industrial Park booth that Robin was staffing.....too many hats and not enough time. I guess that is why Slow Money seems good to me, gives me a chance to look and think deeply as opposed to shallow and be spread so thin that I am not effective.

Comment by Jason Bradford on November 26, 2010 at 1:18pm

Is the WAC competition a venture fund competition where the prize money also equals investor ownership in the company? We would be interested if that meant funds went to buy farmland through the Limited Partnership, but not if it meant part ownership of the General Partnership.

Have only had local investor, and want more since I am working for community food security. Most probably want to wait and see how we perform but perhaps don't realize that the timing is crucial. We will close this fund after a year and a half no matter how much we have in it. I know of no other opportunity like us, zero.

Had great interview on an agriculture blog recently, if you missed it:
http://bigpictureagriculture.blogspot.com/2010/11/socially-consciou...

Thanks for all you keep doing Bill, and we do have to meet up and catch up again soon.

Comment by William Ray Ford on November 26, 2010 at 1:30pm

I am just running the conference and do not solicit or attempt to sell memberships in any LLC but could check with Steve Shield who is the LLC Manager for the 2011 WAC III investment. I think Biff might also know the answer to your question but I would think it would be a convertible note to the winner of the competition and in your case to buy farmland thought the limited partnership but not the General Partnership but I may be mistaken. Wish Steve Shields was a member of Slow Money. Maybe there is some rule against it. Biff any input?

Comment by Biff Traber on November 26, 2010 at 1:46pm

Last year (and the year before I believe) we did use a convertible note. There were issues with investing in an LLC but I am no expert in the topic. Steve Shields would definitely know more.

Comment by William Ray Ford on February 3, 2011 at 7:30pm

Hey Jason, Sorry I left you hanging on the phone with the WAC LLC manager Steve Shields today. Did you get your answer about pitching for the prize money for this year's WAC conference on May 12th at the CH2MHill Alumni Center?  Is this a chance for slow money, fast money or no money?

Comment by Biff Traber on February 4, 2011 at 9:55am

Jason, until I read the blog interview, I did not realize that your focus was local farmlands (Willamette Valley).  I guess it was the SF HQ that threw me off.  I had thought last November to comment that WAC was not a good vehicle since our leaning is regional companies.  Seems like at least I mus-understood where Farmland's focus is. So I have some more questions about the fund you are referring to.  What is the best place to find out more since the web site has no details? Here or via the contact form on the web site?

Comment by William Ray Ford on February 4, 2011 at 11:35am

Biff, Jason and his partner Craig joined the BEC almost a year ago after Jason moved up here.  They pitched at SWOT and I don't know if you attended that presentation or not.  I have a packet of their presentation if Jason says it is ok to release it to you I will send it. Of course, I know Jason has more current info and some of the business planning stuff may have changed since last fall. Additionally, I may have their Christmas letter which was an outstanding overview of their Oregon presence.... Good to have a city councilman on the WiN site....

Comment by Biff Traber on February 4, 2011 at 11:49am

Bill, jason

 I would like to see the presentation or other information.  This is for my personal interest, personal finance and for my interest in the whole concept of invest locally. It has less to do with any official city council activities but clearly there will be overlap. I keep having a feeling we have yet gotten rolling on investing locally.  A topic I wonder about is how to get more than "qualified investors" involved.  I suspect there is lots of IRA and 401K money owned by local people all of which is invested elsewhere.  How to tap into that is a naive question I keep wondering about.

Comment by Wendy Kincade on February 4, 2011 at 6:36pm

Hi Biff - Good seeing you at Rotary yesterday.  Investing local people's IRA and 401K money in local businesses is a great idea.  I have no idea how to do it, though.  Maybe someone needs to set up a Corvallis/Benton Mutual Fund that local investors can select as part of their portfolio.  Hmmm?  Just a thought.

Comment by Wendy Kincade on February 4, 2011 at 6:52pm

Jason - Just read your interview on bigpictureagriculture.  And I just finished reading "Hungry for Peace," a book about the mid-1990s famine in North Korea.  I think I am now beginning to truly understand your idea of "food security" on a macro level.  Your business model sounds amazing and definitely do-able.  I look forward to following your progress.  And good luck if you decide to go after funds at the Willamette Angel Conference.

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