It was the Spring of 1958 when "Nel blu dipinto di blu" won the San Remo Music Festival In Italy. Few Americans had ever heard of the Festival. In August of that year, the song reached America. It was number one on the music charts for five weeks. It's the only foreign language song ever that won a Grammy. It was known to all as "Volare".
I was thirteen years old in 1958 and about the only thing I knew about Italy was that it was shaped like a boot.
One day my Dad came home with a 45 record in his hand. I had two brothers and two sisters, but he gave the record to me. He didn't understand what it was about, but he thought it was funny. Up to that time, I don't think I had even heard the song.
We played it again and again.
I have heard about how a single happenstance can change someone's life.
Over the next 11 years of my life, I had about a dozen happenstances that ended up with my being in Italy, meeting an Italian girl, and getting married. My Dad had given the Italian record to me. I still have it.
Wednesday, December 29, 2010
Saturday, December 25, 2010
Net Worth
My first employment after being discharged from the military was with a Finance Company. You don't see those kind of companies around now like back then. They had a legal limit on their loans of $2500. . In the business they were called "stick note" loan companies. Reason for the name was that they often took furniture as collateral and the furniture was the "stick"
It was a brutal business and I didn't stay in it very long, but I have to admit that it taught me a lot about personal finances. The following happened one day.
A well dressed man entered and I sat down with him in one of the customer cubicles. In a arrogant manner, he said he needed $2500.00 . I slide over a credit application and he pushed it back and said he already had accounts there and didn't need to fill it our. So I asked him to just fill out his name and I would pull out his account.
This was before the age of computers , and I searched the file cabinets till I found his name.. He was correct, he did have an account, in fact, he had 14 accounts.! The 14 accounts were in different stages of being paid off and all were being paid perfectly. I stopped by the managers desk, he looked at the Customers name, and said without hesitation that the loan was approved.
I prepared the paper work and started learning more about the customer. He was the brother on an internationally know singer. He and his wife were talent agents and had a combined income of around $60000. a year. (1970) They lived in a luxury high-rise apartment. They both had expensive foreign cars. Their Apartment and auto's were leased. They had no children.. The loan he was getting now was for a Club Med trip they were taking with some of their friends. I finished the paper work and the man left with his money.
A short time later, an older Hispanic man came in. We sat down in the cubicle and in a humble and almost apologetic manner, he asked if he could get $700. to buy a color TV for his wife's birthday. Their 20 year old black and white had been broken for over a month. I started to ask him questions to fill out the credit application. Where did he live.. He owned his modest home. He owned his 8 years old car. He had no outstanding loans anywhere. He worked for the School District as a janitor . Had worked there all his life and was making $10000. a year.
As I went through the application , I found out that he had five children. He Proudly told me they all had good jobs as he had insisted that each had taken technical training out of high school. They all were married with children and were all buying their own homes. On checking his credit, I found it to be perfect. I finished the paper work and he left with his TV money.
As I drove home that day, I was reflecting on the two customers and what different life styles they had.
The couple that had a huge income had virtually no net worth while the minimum wage earner had property and a great family. The lesson learned... it's not how much you make, but what you do with it.
©2010
It was a brutal business and I didn't stay in it very long, but I have to admit that it taught me a lot about personal finances. The following happened one day.
A well dressed man entered and I sat down with him in one of the customer cubicles. In a arrogant manner, he said he needed $2500.00 . I slide over a credit application and he pushed it back and said he already had accounts there and didn't need to fill it our. So I asked him to just fill out his name and I would pull out his account.
This was before the age of computers , and I searched the file cabinets till I found his name.. He was correct, he did have an account, in fact, he had 14 accounts.! The 14 accounts were in different stages of being paid off and all were being paid perfectly. I stopped by the managers desk, he looked at the Customers name, and said without hesitation that the loan was approved.
I prepared the paper work and started learning more about the customer. He was the brother on an internationally know singer. He and his wife were talent agents and had a combined income of around $60000. a year. (1970) They lived in a luxury high-rise apartment. They both had expensive foreign cars. Their Apartment and auto's were leased. They had no children.. The loan he was getting now was for a Club Med trip they were taking with some of their friends. I finished the paper work and the man left with his money.
A short time later, an older Hispanic man came in. We sat down in the cubicle and in a humble and almost apologetic manner, he asked if he could get $700. to buy a color TV for his wife's birthday. Their 20 year old black and white had been broken for over a month. I started to ask him questions to fill out the credit application. Where did he live.. He owned his modest home. He owned his 8 years old car. He had no outstanding loans anywhere. He worked for the School District as a janitor . Had worked there all his life and was making $10000. a year.
As I went through the application , I found out that he had five children. He Proudly told me they all had good jobs as he had insisted that each had taken technical training out of high school. They all were married with children and were all buying their own homes. On checking his credit, I found it to be perfect. I finished the paper work and he left with his TV money.
As I drove home that day, I was reflecting on the two customers and what different life styles they had.
The couple that had a huge income had virtually no net worth while the minimum wage earner had property and a great family. The lesson learned... it's not how much you make, but what you do with it.
©2010
Monday, December 20, 2010
Just A Few Words
There were three people in my life that played major parts in forming my successful career. They were my high school Principle, my Uncle that lived in California, and a guy named Hank. I feel lucky that I was able to thank the first two before they passed away. This story will be an attempt to thank the third.
It was in the 70's that while working on my business degree, I found myself working for my brother. I had been attending school full time and was working nights and weekends at a fast food restaurant. It was tough on my young foreign bride being left alone in our tiny apartment.
One day, my brother, who owned a used car lot, called and said he had just fired his porter and wondered if I might want to come work for him as a porter. The pay would be better, and I could work between classes and be with my wife evenings and weekends. It was a no brainier for me and so I went to work for him.
The arrangement worked well for me and continued for several years. My duties expanded from just being a porter to what amounted to managing the lot. A tragic event changed everything. My brothers partner was diagnosed with cancer and died within a few months. This created a huge void in the company and my brother asked me to start working full time. I was almost finished with my degree so I was glad to accommodate him. I finished up my degree taking evening classes.
During those years , I had become acquainted with a guy named Hank. I never knew if he had a regular job, but he was always coming around buying or selling cars. In the business he was called a "wholeseller" . I always enjoyed talking to him as he was intelligent and knowledgeable in a lot of areas. His personality was sometimes abrasive, but overall, he was a breath of fresh air in the area of used car business.
It was several years after I had completed my degree, that Hank came by one day. I wasn't busy, so we were having a conversation about various topics. He asked about my plans. I had always dreamed about owning my own business, but had fallen into a comfortable rut. My pay was good, I had purchased a home and had a young son. We continued to talk, then he looked me straight in the eyes and said "You know, Your Stupid" . I was shocked and at a loss for words. He continued "Your a smart guy and you should do something on your own, because you will never get anywhere working for your brother" . I was hurt and really felt like hitting him. I told him I had to get to work, and he left.
I thought of nothing else the rest of the day and during my long drive home. I told my wife about it when I got home and while she consoled me she said that Hank was just being honest.
A few days later, I asked my brother if he would ever consider taking me in as a partner. He said that he really liked me working for him , but a partnership would never happen.
A year later, my wife and I, held the Grand Opening of our Ford Dealership. The Dealership that we purchased had been on the brink of bankruptcy and turned out to be the proverbial "bird nest on the ground" for us.
Thank You Mr Hank!
©2010
It was in the 70's that while working on my business degree, I found myself working for my brother. I had been attending school full time and was working nights and weekends at a fast food restaurant. It was tough on my young foreign bride being left alone in our tiny apartment.
One day, my brother, who owned a used car lot, called and said he had just fired his porter and wondered if I might want to come work for him as a porter. The pay would be better, and I could work between classes and be with my wife evenings and weekends. It was a no brainier for me and so I went to work for him.
The arrangement worked well for me and continued for several years. My duties expanded from just being a porter to what amounted to managing the lot. A tragic event changed everything. My brothers partner was diagnosed with cancer and died within a few months. This created a huge void in the company and my brother asked me to start working full time. I was almost finished with my degree so I was glad to accommodate him. I finished up my degree taking evening classes.
During those years , I had become acquainted with a guy named Hank. I never knew if he had a regular job, but he was always coming around buying or selling cars. In the business he was called a "wholeseller" . I always enjoyed talking to him as he was intelligent and knowledgeable in a lot of areas. His personality was sometimes abrasive, but overall, he was a breath of fresh air in the area of used car business.
It was several years after I had completed my degree, that Hank came by one day. I wasn't busy, so we were having a conversation about various topics. He asked about my plans. I had always dreamed about owning my own business, but had fallen into a comfortable rut. My pay was good, I had purchased a home and had a young son. We continued to talk, then he looked me straight in the eyes and said "You know, Your Stupid" . I was shocked and at a loss for words. He continued "Your a smart guy and you should do something on your own, because you will never get anywhere working for your brother" . I was hurt and really felt like hitting him. I told him I had to get to work, and he left.
I thought of nothing else the rest of the day and during my long drive home. I told my wife about it when I got home and while she consoled me she said that Hank was just being honest.
A few days later, I asked my brother if he would ever consider taking me in as a partner. He said that he really liked me working for him , but a partnership would never happen.
A year later, my wife and I, held the Grand Opening of our Ford Dealership. The Dealership that we purchased had been on the brink of bankruptcy and turned out to be the proverbial "bird nest on the ground" for us.
Thank You Mr Hank!
©2010
Wednesday, December 1, 2010
Under Budget
The memo came for the ship’s Executive officer. I was working in communications, so I saw it first. The ship was nearing the end of its financial year and we were under budget by $60000. The memo from the XO asked each department head to check all supplies and equipment to see if anything was needed and could be purchased at that time. Other wise, next years budget would be cut.
The Chief of communications ask me to go with him to the supply depot to see if there was anything we could use.
We walked around the depot that would have dwarfed a Wal-Mart. We located the section that had communication equipment and came across an item that we could use. We had four Teletype machines on the ship. When we were “running ops” all four machines were spitting out messages a line at a time. This was during the height of the Vietnam War and we were undermanned, so the single seaman assigned to read the messages and tear of the ones addressed to us, could not keep up. The paper would start piling up between the machines. What we found at the depot could solve the problem. It was an auto-winder.
It was really a nice stainless steel devise. Mounted above each Teletype, it would gently roll up the paper as it was printed to a reel. When the seaman wanted to read the rolled up messages, the reel would slide apart and the paper could be removed.
We bought 4 at about $200. Each.
A few days later the Chief told me to install the machines. I removed one from its box and proceeded to do what I was told. It only took about 2 minutes to see that there was not enough room between the bulkhead and the printers to mount the machine. I call the Chief and he looked and said some French words. The he told me to put the thing back in the box and put it with the others in the Transmitter room. I asked him if I should return them to the depot and he responded with more French.
The four boxes sat there, in the way, until the next time we went out to sea for operational exercises. I got off of my shift one night at midnight and they were still there, in the way. The next morning I came back in and they were gone. I asked the chief what happened to the machines. He answered with more French and told me not to “make waves”
Later that day, the seaman who had relieved me the night before came in. I took him aside and asked him what happened to the machines. He said, “ Chief told me to take the machines and throw them overboard to see if they will float, and to make sure, no one would see me.” They didn’t float...
©2010
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