In this issue
This past June, the Federal Reserve once again reduced the federal discount rate, this time to its lowest level in 45 years. And judging from Fed Chairman Alan Greenspan's latest comments, low interest rates and low inflation are likely to remain for the foreseeable future. Already, many consumers have re-financed their homes, cars and personal credit lines.
But what do these low rates mean for family businesses? How can you take advantage of this environment?
J.P. Morgan was a confused and depressed underachiever when a Philadelphia banker named Anthony Drexel took young Morgan under his wing and transformed him into a world-beating financial titan who made Drexel rich. And of course you know about the miracle that Anne Sullivan performed for Helen Keller.
On the other hand, the young printer's apprentice Benjamin Franklin so detested his mentor—his older half-brother James—that he fled Boston permanently to Philadelphia.