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Sticking It in the Ear of the AIG Bonus Recipients
(And Doing a World of Good!)

On the day, yesterday, that I was reflecting, viciously, on "AIG & Me," my Vermont neighbor Kathleen Colson sent me the report that follows on her February trip to Kenya. She is an amazing person—traveling by herself to all sorts of places she shouldn't, giving her last ounce of energy again & again & again, etc., etc., in pursuit of goals she holds dear. As readers of this Blog know, I think the sun rises and sets over Muhammad Yunus and micro-lending. (Incidentally, I was with one of the country's leading internal medicine docs here in Houston this morning, and we both talked lovingly about the power of micro-lending for perhaps an hour—before turning to the dull topic of my sinus infection.) At any rate, below you'll find Kathleen's report on a related but different kind of program, supporting "deep rural" entrepreneurship, that is demonstrating extraordinary results in places where micro-lending seldom, if ever, makes it. This site [tp.com] has no ads, and never will I'd imagine. And I've never asked anyone to give a penny to anything. But in the name of those greedy bastards at AIG, as well as for the good of the world, I'd ask you to read what's below and consider giving a buck or two to this worthwhile cause, if it strikes you as it did me. I gave a few dollars because of Kathleen's courage and commitment, the power of her program—and, I admit, just a little bit to stick it just a little bit in the ear of the AIG gang. Lousy motivation in the latter case, you say. Sure, but whatever works!

From Kathleen Colson:

"I spent a month in northern Kenya in February, visiting with the women's groups and leaders of the villages as well as watching our BOMA team deliver business skills training programs to potential business owners in 4 villages. On our first morning in the village of Korr, as the mercury hit 100 degrees Fahrenheit, I sat in the midst of a crowd of 250 people. I watched as 200 newly trained businesspeople, mostly women, received a certificate for their participation in a series of business skills training programs that would launch them in their new business endeavors. Abdi Amin, the most successful businessman in the village, spoke to the group and provided encouragement describing his own story of starting a business with just 10,000 shillings. He warned our new entrepreneurs to withstand the pressure to give credit because 'credit is the graveyard of all business.' And then BOMA's trained Business Mentors, John and Adhar, did something that no one has ever done in this remote, neglected part of Africa—they handed cash to poor people so that they could start their own businesses.

"Welcome to BOMA's Rural Entrepreneur Access Project (REAP), a program that is receiving significant attention as a cutting edge model of poverty alleviation for the rural remote areas of Africa. The most important ingredient to our effectiveness is the support we receive from local leaders in places like Korr village. We attribute this to our considerable investment in listening; in our commitment to include local people in the development and leadership of our programs. As our meeting on that hot day in January came to a close, the village District Officer validated our listening investment by announcing to the assembled that, 'This is the first time that an organization has come to our village and given people what they asked for—money to start a business and training and support so that they can succeed. They didn't ask for an ID card, or what political party you belong to. They just asked if you would be willing to work hard and not give credit. The people who support BOMA in the US should know that they have given us what we need the most.'

"I wish each and everyone of you could have been with me to witness this incredible moment. BOMA's programs are informed by our mission to improve the capacity of individuals to earn their own income. But it is really more than that. For a community in transition it is about nourishing the courage of the human spirit, a combination of hope, faith and resilience that sustains an individual's ability to solve their own problems. We give the poor in Africa the resources to determine their own futures within the context of their own rich traditions and heritage. REAP is the centerpiece of that effort—a grants based training and mentoring program that is a cost-effective and sustainable strategy for poverty alleviation. Micro-lending is inaccessible to 70% of the poor in Africa who live in remote communities like Laisamis district and our grants-based program provides the access to capital that is needed to start small businesses. In the words of one of our closest economic advisors: 'We must first wake these ones up for what they can do; loans are for established businesses, for trained people with skills; grants are for the ultra-poor and inexperienced.'

"We are just $16,000 short of the 2009 REAP goal of launching 200 businesses in 4 villages—impacting the lives of 1000 people who will earn a steady income for the first time in their lives. I think the poor in Africa are an important investment in our global potential and I have never been more optimistic about Africa's future. I hope you will join me in celebrating our first class of entrepreneurs by making a donation to BOMA's Rural Entrepreneur Access Project today. By doing this, you will help us invest in people who can get things done on behalf of their own communities. You will help us invest in programs that will provide the resources for people who are determined to improve their lives, and the lives of their children.

"We know we can do this economically, sustainably and on behalf of our donors, prudently. I hope you will join us.

"With gratitude,
"Kathleen Colson
"Executive Director"

The Boma Fund logo

Kathleen tells us that donations can be made online at www.bomafund.org or at www.cowsforkids.org or by sending a check to:
The BOMA Fund
PO Box 1865
Manchester Center, VT 05255

Give it a moment's thought.

[Financial filings of the BOMA Fund, if you'd like to research it: 2007 Tax Form (PDF), GuideStar Overview.]

Tom Peters posted this on 03/19/09.

Comments

Done! Thanks, TP, for this. What a beautiful people the Kenyans are. The Maasai people are breathtakingly beautiful.

My sister-in-law is Kenyan and I look forward to my trip to a number of African countries this Christmas.

May God bless The Boma Fund, each and every worker and giver, for the work they do in Kenya. Blessings!

Posted by Judith Ellis at March 19, 2009 12:31 PM

Tom,

You're tapping into something much deeper, which is occurring. Call it the "Power of One". After September 2001 there were no more innocent bystanders. Individuals started to react to help perfect strangers. Now during this economic meltdown, individuals are being proactive to help strangers better themselves. Be it a micro loan program (or smaller), or giving a job lead or putting $50 in an envelope at the grocery store so the cashier can give it to someone who has to choose between eating and paying the rent.

As a society and as individuals, we are refusing to allow others to be victims of circumstances.

Posted by Bruce Fryer at March 19, 2009 12:36 PM

Bruce - Your words are beautiful. Thank you. I have been randomly paying for the groceries of others in various neigbhorhoods in the US and throughout my international travels for many years. Even when I did not have a lot extra, I did exactly the same thing. "It is more blessed to give than receive."

Posted by Judith Ellis at March 19, 2009 12:52 PM

Tom:

I have deep admiration for your work and your recs, and I know you don't take them lightly. there is just no way to say how much I've learned from you over the years.

For a while, I've wondered the best way to contribute to some sort of group such as this!

Your biggest fan in Houston is making a contribution today!

Thanks,

Posted by Cindy Clifford at March 19, 2009 12:58 PM

Great work that Cathy is doing and undoubtedly a huge effort.

To provide another perspective, I'm turning all of my efforts to Americans and the plight experienced by millions of them in our current economic environment. I'm also buying American whenever given the option. If we don't begin to help ourselves and our own nation, areas like Kenya will suffer huge losses with donations and revenue; I don't see other nations/countries filling the gap with donation shortfalls.

While I think it's wonderful that The Boma Fund is doing what it's doing, I can't help but put my money back into the good ole US of A at this time. We have homeless, disabled Veterans, and people being moved to the street daily. A bit ironic how many people view doing things for other countries as noble, but doing things for our own kind (American) as enabling/entitlement/socialistic.

Cheers to The Boma Fund and best of luck. Thanks Cathy.

Posted by Scott Peters at March 19, 2009 3:04 PM

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Kathleen Colson and the BOMA Fund, Muhammad Yunus and the Grameen Bank and thousands (millions?) of micro, small, medium and even a few large businesses are the side of capitalism that makes it such a powerful force for change and growth. Hats off and hearty thanks for all they have done and continue to do. They are a shining example to all of us. Thank you Tom for bringing Kathleen and Muhammad to our attention.

The contrast with AIG and all the other perpetrators of this economic disaster is stark indeed. The unbridled capitalism driven by greed and avarice that they represent is the 'Dark Side' of capitalism. The damage they have caused ripples so widely across the economies of the world (homes, pensions, jobs, hopes and dreams) that it means the likes of Kathleen Colson and Muhammad Yunus will have a hell of a headwind to deal with over the next few years. The 'greedy bastards at AIG' (Tom, you were much too kind to them) and the rest of the SOB's in the finance industry that got big bonuses for screwing us all should send BOMA (and/or any other organizations doing good works) their bonuses. Maybe it would soothe their consciences (although I doubt if many of them have one).

Posted by Bob Walker at March 19, 2009 4:43 PM

Nice post and kudos to Kathleen.

The internet marketing community is also working to help others during these hard times. The demand on charities has increased while donations have decreased during these crazy economic times. Next week we are having a charity party in NYC to help raise money for the Leukemia & Lymphoma Society. For people that can't attend we are also holding an online raffle to raise even more money for charity.

If anyone is interested they can find full details and make a donation at http://www.IMCharityParty.com.

ps we are lucky enough to have some compassionate companies covering all costs of this charity event so 100% of every dollar raised goes straight to charity

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Posted by David Porter at March 20, 2009 7:30 AM

Bob Walker--right on! But, let's not forget that it wasn't just "unbridled capitalism" that got us into this mess, it was helped along by unbridled intervention by gov't "leaders" who steered untold billions into the pockets of their cronies. Nobody's hands are clean.

And for some other commentors herein--BOMA and other microlending agencies are definitely NOT charities! There is a huge difference!

Posted by Useless Sam Grant at March 20, 2009 9:00 AM

"But, let's not forget that it wasn't just 'unbridled capitalism' that got us into this mess, it was helped along by unbridled intervention by gov't "leaders" who steered untold billions into the pockets of their cronies. Nobody's hands are clean."

This makes me think of hearing Eliot Spitzer yesterday in a promo for his upcoming interview on Fareed Zakaria GPS say that the bonuses are "red herrings." The real deal is relationship with AIG and others, including Goldman Sachs that got $12.9 BILLION and of their $168 BILLION when Paulson, the former Treasury Secretary and head of Goldman Sachs, was in office. This would be the first tranche of TARP that we are now railing about. Is there reason to think that Spitzer's sins were exposed to stop further exposure on Wall Street and in Washington?

Regarding Spitzer, I could care less about his personal shortcomings. What I care more about is his plan to expose some on Wall Street, banks and insurance companies with hedge funds. I'm no conspiracy theorist, but I do have concerns about the convenience of the Spitzer sex scandal and his seemingly cleared eyed notion of corruption on Wall Street and in Washington. Speaking of Washington, Senators Dodd and Shelby may not survive. Perhaps Edward Liddy either. He was on the Board of Goldman Sachs, resigning at the end of last year and becoming the CEO of AIG. Ugh!

Rightfully or not, this feels like a gigantic racket.

Posted by Judith Ellis at March 20, 2009 10:43 AM

This BOMA/micro lending is a beautiful thing, as is the private sector out of places like Sand Hill Road. While our VCs operate on dollar amounts many orders of magnitude greater, the impact of this micro lending on the lives of the people involved is much closer in proportion. What kills me is that this is the model that works, at both ends of the economic spectrum, the world over yet our government makes it onerously difficult to start businesses. Especially in these times, they should be bending over backwards to make it easier for us to start (small) businesses, even in the face of the risk of abuse that could strike just as easily in the micro lending model as the macro lending model. However, instead they are meddling in obvious emotional haste, injecting the most deadly cancers of all into the capitalist system.

Posted by Terry Ransbury at March 20, 2009 9:14 PM

Great comment, Terry. Thank you. I have been wondering about micro lending in urban and rural areas here. If it works in communities abroad where infrastructure is so minimal, surely it can work in areas needing development in America too.

Posted by Judith Ellis at March 20, 2009 10:51 PM