John Twomey spoke today about his entrepreneurial journey which recently concluded in a multi-million dollar sale of the company he founded almost 50 years ago. His business focused on the storage and brokering of corn and soy beans. He operated one of the largest river elevators and loading facilities in Western Illinois. Many of the qualities that all employers seek are embodied in John Twomey. His has been a rock of honesty, steadiness, and community support that made living in this area just a bit nicer.  

John identified himself as a workaholic with an inferiority complex. He was  a small, country boy who grew up on a farm, but excelled in track and field and won the national championship running the mile for the University of Illinois.

John just sold one of the largest grain elevator (storage) businesses in the State of Illinois in November. He is an unassuming gentleman who claims he “just wanted to do what is right and help his neighbors”. His business philosophy was similar.  “I made sure to hire the best man, even when we didn’t need anyone. My customer is satisfy my customers and do right by my employees–I made sure they were treated fairly. I never want to be accused of gauging a customer or mistreating my workers. We charge what is fair and hustle to deliver more than what is customary”.

If you want to hire or do business with someone ethical, John Twomey was the picture that comes to mind for farmers in Western Illinois. John had that x-factor that made him a multi-millionaire. The diligence, stick-to-it-tive-ness and tenacity came from his Midwestern roots. It is something very tangible, so you know it when you see it. Our 29 students and a few guests saw it clearly today in the classroom in McMichael 308.

John Twomey was the largest grain dealer/handler in Western Illinois.  The farmer could (and some do) deliver their grain to the ultimate user or the barges at river — that is a costly thing to do and an activity at which the farmer has no particuliar comparative advantage.  Given this real world cost, there is an opportunity for an entrepreneur/middleman.  John Twomey  offered that service. He made an art of storing corn and people from all over the world came to study their methods.  His company collected the grain and moved it closer to its ultimate buyer through more efficinent methods and innovative machinery. John had the economies of scale to develop specialized knowledge of the commodity markets and became successful in knowing how and when to sell.