AN ANALYSIS OF SMALL BUSINESS LOAN GUARANTEE FUNDS

Small businesses are considered important engines for job growth and economic development by policy makers worldwide. One of the most commonly cited constraints of small businesses is a lack of access to capital. To address this constraint, small business loan guarantee programs have been established in over 100 countries. There are a variety of types of guarantee funds, with the most significant differences being which borrowers are eligible for guarantees, and how borrowers are approved for guarantees. There is currently no clear delineation between types of programs and the economic conditions they operate in, though some trends are becoming apparent. However, these trends may not be leading to the best economic outcomes possible. By better matching the structure of the guarantee fund to the economic conditions it operates in, the program’s success in meeting economic development goals may be greatly improved. Many programs in developing countries may not be taking advantage of bank expertise and may be limiting the scope of their effectiveness. At the same time, programs in developed countries may be wasting resources by scattering their efforts too thinly and subsidizing less competitive firms to the detriment of local economic development.

Nebraska Agri-Business Association

When I was with you back in August of 2001, I mentioned that in New Mexico I served on the board of the New Mexico Agricultural-Chemical and Plant Food Association, and have, I hope, some appreciation of the work you do. I also truly appreciate your interest in your support of the work conducted at the Institute of Agriculture and Natural Resources at the University of Nebraska-Lincoln. Thank you for that! Your support, always critical, becomes even more so in such difficult, difficult economic times as our state finds itself in today. Nearly $4 million dollars was permanently slashed from the IANR budget in three rounds of budget cuts between October 2001 and August 2002, a result of Nebraska's continuing revenue shortfalls. At the same time, our frustrated IANR constituents make it clear that nearly $4 million of need did not disappear with our funding. Now more cuts are expected in this legislative session.

Omaha Agri-Business Club Leadership Award Presentation

It is a real pleasure to present the 2006 Omaha Agri- Business Club Leadership Award this evening during National Agriculture Week. I commend the Omaha Agri-Business Club for establishing this fine award. We always need to celebrate the accomplishments of individuals whose leadership efforts contribute to our agricultural industry which is the backbone of Nebraska and our nation.

An Artesian Well System in Beaver Crossing, Nebraska- It's Development and Demise

ABSTRACT Nebraska has a veritable wealth of groundwater. The High Plains Aquifer underlies most of the state, and within its sand and gravel deposits, many interconnected aquifers provide fresh water for a variety of uses. One of the most spectacular examples of this resource is the artesian well. Beaver Crossing, Nebraska was once home to one of the most prolific artesian systems in the state before its demise. Founded in the 1880’s, Beaver Crossing soon became known for its many artesian wells, that provided leisure activities and supported profitable business ventures such as small farming, ice production and aquiculture. Eventually these wells would dry up and the town of Beaver Crossing would never see the level of commerce and activity that it saw during its early years. I decided to research this subject because I lived in Beaver Crossing for twelve years. While I lived there I heard stories about the artesian wells, the nationally recognized lily pond, and the large public pool fed by underground water that was plentiful around town. I was interested in knowing what happened to the water, the wells, the pool and businesses. . . And, in the wake of their disappearance, what happened to the town. To research this topic I looked at accounts of the history of Seward County and Beaver Crossing. I also studied the basic geology underlying the Great Plains, as well as local geology and issues pertaining to groundwater levels, such as rainfall amounts, drought and irrigation. As irrigation became a factor in rural Nebraska and through several documented droughts, groundwater levels all over the state declined. At the same time the artesian system in Beaver Crossing all but disappeared.

Two and a Half Cheers for the Midwestern Bourgeoisie: Role of the Virtues in Tempering Business Decisions

A recent book (The Bourgeois Virtues: Ethics for an Age of Commerce, D. N. McCloskey), raises the matter of the role of the virtues in business and economic choice, arguing that capitalism can indeed, be virtuous or at least better than the alternative(s). This argument is especially timely in light of the apparent excesses on Wall Street and in some banking/financial institutions. Excessive greed and often the lack of business ethics contributed in substantive ways to the financial crisis and near economic meltdown we have been experiencing. As McCloskey, (2006, pp. 1-2) argues (in setting the stage for the complex argument made in this 616-page book!): “The book … is directed toward you who are suspicious of the phrase ‘bourgeois virtues,’ pretty sure that it is a contradiction in terms. And the book is directed, with less optimism about changing their minds, toward you who think the phrase is worse: a lie. ‘Bourgeois virtues’ is neither. The claim here is that modern capitalism does not need to be offset to be good. Capitalism can on the contrary be virtuous. In a fallen world bourgeois life is not perfect. But it’s better than any available alternative. American capitalism needs to be inspirited, moralized, completed. Two and a half cheers for the Midwestern bourgeoisie (middle-class, small business owners…. yet)… Many a businessman is an ethical shell or worse. Even the virtues of the bourgeoisie, … do not lead straight to heaven.”

RP96-11 The Farm Corporation: What It Is, How It Works, How It Is Taxed

A corporation is an artificial person that is created and operated according to state corporation statutes. It is a separate taxpayer subject to specific and detailed federal, state, and local tax laws. The advice and service of your lawyer are indispensable in organizing and operating a farm corporation. There are three basic forms of farm business organization, the sole proprietorship, the partnership, and the corporation. Variations of these forms have resulted in the limited partnership and the "tax option" corporation. These three basic forms are discussed in this research publication.