Putnam Pipe Blog

Lately whenever someone finds out that I am in the underground pipe or construction industry, they seem to ask two questions.  First is, “How are things going?”  The second is invariably, “What about all the federal stimulus money?” 

I have to chuckle at both questions but it really is not funny.  Things are fine at our company but could be a lot better.  As a business owner, we are asked to take risks every day we open our doors.  Whether it is with our employees, our product, our vendors or our customers, taking risk is where you get ahead and what made this country great.  The problem I see is that the banks want to assume no risk and little involvement in helping to turn this economy around.  The need to stop being banks, and start being “lending institutions”.  Yes there is risk in this idea, but if we are going to trust them with our money, then they need to act responsibly and work with that money.  Hoarding the money and cleaning up their balance sheets will not help anyone.  Tell them to get the money out in the streets!

As far as question two, we are still waiting for the trickle down of the federal stimulus money in our business.  I recently read an article that explained the breakdown of the federal money.  I was shocked to find that only 6% of the money is going to “highway” projects, which include roads and bridges.  A whopping 63% is going to Medicare and Medicaid payments and to help shortages in those government agencies.  I will not open the doors tomorrow morning waiting for my little piece of the 6%, as that money is so tied up in administrative and procedural problems, that many towns have all but abandoned the projects that they submitted.

Bottom line is that there is no quick-fix or cash cow to get this country out of this mess. 

Do your little part and ask you bank what they are doing to push the economy forward.

It is your money and you need it to grow, just like the economy.