Newscasts

PNS Daily Newscast - November 13, 2018. 


Californian’s now facing a pair of wildfires; Also on the Tuesday rundown: Higher education in New Jersey: a racial split; plus food resources still available despite the “public charge” proposal.

Daily Newscasts

Despite New Stock Market High, More are Investing Locally

PHOTO: It's been a good start to the year on Wall Street, but that isn't stopping some investors from moving away from global capital markets to put funding into local enterprises, where there's a positive social impact along with a return. CREDIT: Herval
PHOTO: It's been a good start to the year on Wall Street, but that isn't stopping some investors from moving away from global capital markets to put funding into local enterprises, where there's a positive social impact along with a return. CREDIT: Herval
May 8, 2013

ST. PAUL, Minn. - It's been a good start to the year on Wall Street, but that isn't stopping some investors from moving away from global capital markets to put funding into local enterprises, where there's a positive social impact along with a return.

John Bloom, senior director of organizational culture with RSF Social Finance, said he has seen a record number of clients diversify away from global capital markets to invest in local companies working in such areas as food, education and ecological stewardship. According to Bloom, investors are taking things personally.

"What we've seen," Bloom said, "is people saying, 'This doesn't work for me anymore. I want to know where my money is working. I'd like to be able to align my money with the values that I hold dear. I want to know that it's having impact in a world that I feel really good about.' "

Another proponent of keeping investments close to home is Judy Wicks, co-founder of the Business Alliance for Local Living Economies. Wicks pulled all of her money out of the stock market about 15 years ago and focused on her city's reinvestment fund - which, she noted, came along with a guaranteed rate of return.

"And on top of that, I know exactly what my money is doing," she said. "It's building wind turbines and charter schools and local food enterprises, here in my own community. So, I think that people are starting to wise up and invest locally because when you invest locally, you get what I call 'a living return."

The goal, Bloom said, is to transform the way the world works with money, lending, investing and giving.

Meanwhile, the Dow Jones average set a new record on Tuesday at 15,056, its first-ever close above 15,000. The Standard & Poor's 500 index finished at 1,625, also a record close.

John Michaelson, Public News Service - MN