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Humana Head Speaks About Local Economy

by Theresa Fritz Camoriano

On Nov. 7, 2001, David Jones addressed Louisville's Venture Club on the subject of Louisville's economic past and future.  Jones said that Louisville depends upon entrepreneurial activity for its economic health, and the nature of that activity cannot be predicted or controlled.  Nobody would have predicted that Louisville would produce a large fast food industry in Tricon and Papa Johns or a Humana.  These entrepreneurial activities happen through the activities of individual entrepreneurs if the environment encourages and promotes them, but they cannot be created by a program like "Bucks for Brains".  In order for Louisville to encourage entrepreneurial activity, it needs to be a town where people who try and fail are not beaten up but rather are encouraged to try again.  No entrepreneur is successful at every attempt, and even enterprises that have been successful must change with their customers' needs, as Humana has tried to do.  Jones also said that those people who succeed in Louisville should willingly give to the community in
charitable contributions.

Jones reminded the audience that Governor Wilkinson, who is seeing his share of problems today, was responsible for KERA (Kentucky Education Reform Act), which Jones believes has been very successful. Jones said that education, both in public and private schools, is extremely important for the economic health of our community.  He also said that Wilkinson is responsible for the
construction at Louisville's airport that brought UPS to town, which has been a tremendous help to the economy.

In terms of future growth, Jones said one of our advantages is our central location.  Therefore, it is very important to overcome the resistance of a few powerful people and build the East End bridge.  He said that, if the transportation of the area continues to be limited by the lack of the bridge, it will certainly stunt the growth of this area. This comment was met with widespread applause from the audience.

Kent Oyler asked David Jones, as a former owner of a professional basketball franchise, whether he thought Louisville should aggressively seek an NBA team.  Jones said he would give a short, three-part lesson in economics.  1.   Resources are limited.  2.  They can be used for different purposes... 3. About which people disagree.  He went on to explain that, if the community puts its resources into an NBA team, then those resources cannot be used for other things the community may need.

Jones was asked about what Louisville can do to buttress its arts community.   He said we need to think creatively.  For example, maybe we should consider having a regional orchestra.

If you would like to read or review the text of Humana Chairman David Jones' presentation at the November meeting, go to: www.ventureclub-louisville.org/jones-talk.htm