Meet Larry Felix, Director of the U.S. Bureau of Printing and Engraving
Friday, May 15, 2009SUSIE GHARIB: Imagine making a product that's in high demand around the world, so high that even during an economic downturn, more and more people want it. That's a regular day at the office for Larry Felix, who makes U.S. currency. Shon Gables of "Black Enterprise Business Report" takes a look.
SHON GABLES, BLACK ENTERPRISE BUSINESS REPORT: Every day, $650 million is printed here.
LARRY FELIX, DIR., U.S. BUREAU OF ENGRAVING & PRINTING: It's just ink on paper.
GABLES: ... Under the watchful eye of Larry Felix, the first African- American director of the U.S. Bureau of Engraving and Printing
FELIX: People love to -- love to ask can they get samples when they come on the tours and we do give them samples. But we shred it up first and give it to them.
GABLES: Felix's position oversees the production of U.S. paper currency and security documents for U.S. passports, customs and the Defense Department. What made you decide to take this career trajectory? Do you need to be good in math?
FELIX: No, you don't need to be good in math. I've always loved public service. Public service was my calling.
GABLES: And in 17 years, this native Trinidadian but Brooklyn raised public servant climbed from marketing manager to engineering operations to his most important job -- America's keeper of the currency, who manages 2,000 employees, including scientist and engineers. So, who do you answer to?
FELIX: My boss. My immediate supervisor's the secretary of the Treasury. It's a collaborative effort. Clearly, we do the design, but it has to -- we have to work with the U.S. Secret Service so they can be educated on what the features are. And we have to work with the Federal Reserve, the board of governors of the Federal Reserve, because they are responsible for distributing those notes and educating the financial institutions on what's acceptable or not.
GABLES: With the state of the economy that it's in right now, would it not be sufficient to say that, right now, cash is king?
FELIX: What we've found is that great demand for U.S. currency's not so much in the United States, because Americans have credit cards, debit cards and the like. And so we have to do everything possible to make sure currency becomes part of the payment options for people in the future.
GABLES: As Felix sets out to make his product more desirable with new innovative design, there is one cool thing he realized about his job that not everyone can claim.
FELIX: I don't know anybody in this world that doesn't want a piece of my product. They all want it! And so where can I get that joy? Where can I get that thrill? You go to the store and someone looks at a $100 bill -- man! You know, you can't get that anyplace in the world. So, you know, I love it and I wouldn't give it -- trade it for anything in the world.
GABLES: This is Shon Gables reporting.
