Pharmacist Launches Homegrown Economic Stimulus With $2 Bills
A small-town Alabama pharmacist intrigued by the government’s economic stimulus plan decided to launch his own version with $16,000 in $2 bills, and area stores have already felt the impact.
Danny Cottrell gave each of his full-time employees $700 and part-timers $300. He asked them to donate 15 percent to charity and spend the rest locally, particularly downtown, where store owners say that business has been lean.
“I wanted to do something for my employees, let them know our business is not in jeopardy, and for the local merchants,” said Danny Cottrell, “This seemed like a good way to do it.”
The $2 bills make it easy to see where it’s going, see how it turns over and generates tax revenue that helps the town and schools. Some of the $2 bills have even circulated back to the pharmacy.
“It’s not a huge amount of money,” Cottrell said of his hometown stimulus package. “It would have a more noticeable impact if someone with more resources came up with a huge amount of money, but the times are tough.”
Still, for the workers with the windfall, this is just more of their boss’ big heart shining through, they said.
“I tell you, I love him like cooked food,” said Bobbie Edwards.
Photo by US Treasury.
Jaclyn on March 6th, 2009 1:00 pm
That is a brilliant idea! it would be fairly easy to track where the money is going and being spent given the fact it’s all in $2 bill’s which is not highly used anymore.
best business opportunities on March 7th, 2009 1:00 pm
Great! Doing anything on your own is probably a better idea than waiting for things to get better or worse yet, waiting to see if some stimulus idea will actually affect you directly.
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