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Chapter 43
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Just for two weeks Chapter 44
Kittridge and Jason are both concerned. Their concern is that small businesses are dwindling and the rich are getting richer but America is getting poorer. Like the popular ice caps, the middle class is disappearing. America is becoming a two-class society. This phenomenon - the shrinking middle class - is a global problem, but predominantly in the rich Nations ( in countries such as England, France, Germany, Japan, etc.) With the threats to the stability of democratic capitalism itself within the country.Mr Kittridge and Jason placed the blame on lack of education. But they focused on a different type of education, financial education. Both men were concerned about the lack of quality financial education in America, at all levels. Both men blamed the lack of financial education for the government having gone from the richest government in the world to the biggest debtors in history. Both Kittridge and Jason are successful entrepreneurs and investors. Both men do business and are r
Just for two weeks Chapter 45
After the usual pleasantries, they got around to why they were meeting in the first place. "So what should our book be about?" Asked Kittridge."I believe we've all had the same question," Jason replied. "Since there is such a wide gap between our respective real estate dealings as well as the size of our respective financial statements. I don't think we match when it comes to money. After all, you're a billionaire, and I'm a mere millionaire." Kittridge chuckled. "Don't ever put down being a millionaire. Billions of people would love to trade places with you financially." "I realize that, but there is a definite difference between millions and billions. After all, today, there are many millionaires who are actually broke." "What do you mean, exactly?" Kittridge asked."Well we all know people whose homes have increased in value but their income has not. For example, I know a friend who inherited his parents' home after they died. Since the real estate price have skyro
Just for two weeks Chapter 46
When Kittridge and Jason were talking about the shrinking middle class, it made Kittridge aware that some things can be explained. It's like an hourglass with the middle class the pinched part, or like someone with a very small waistline. What happens when you flip the hourglass? Either way you flip it, you have the poor feeding the rich or the rich feeding the poor. It's either one or the other. Kittridge doesn't like the visual because it reminded him of the old world and aristocratic ways that the country revolted against. Kittridge had been reading some news papers while enjoying some travel time, but there was a story in The Wall Street journal that got him thinking about risk. Just yesterday a new spread like wildfire about three Climbers dying on their way down from Mt. Everest, evidently from exhaustion, after they had reached their goal. And there was an article about the great racehorse, Barbaro, and his terrible injury, and the tragedy in the Volvo Ocean Race, where a
Just for two weeks Chapter 47
Once he got the rights, he still needed a tiny parcel of land that was critical because of Zoning laws that required a minimum of thirty feet of open space behind any building. That took more investigating and negotiation. In addition, his architect, Scott Mathew, and Kittridge went over at least four dozen designs. Finding the best elements of each and incorporating them into final design. Then they had the final design approved by the city with zoning variances. None of the steps were easy, but he saw each step as a challenge and enjoyed working out the details. If he didn't see it that way, it could have been very easy to be discouraged. But instead he had a beautiful building that has become world famous, The Kittridge Tower, was going to be named Tiffany Tower because of the location. But a friend asked Kittridge why he would use another famous name to describe a building that he had envisioned and built, and his question hit home, so he named it Kittridge Tower instead.
Just for two weeks Chapter 48
Kittridge has known about the 90/10 ratio for a long time. He predicted it could reach 90/05 or even 90/01 with 1 percent of the people owning 99 percent of the nation's assets, if they didn't pay attention. Jason's ideas When it comes to attitude, most employees seek security. They say "I'm looking for a safe, secure job with benefits." A small business person may say, "if you want to do it right, do it yourself." A big business owner is often looking for a president, CEO or other talented person to run his or her operations. One of the differences between Small business owners and Big business owners is the number of employees. "Simply because there is very little you can do for yourself from taxes - hence you really do not need an accountant to advise you. Most governments give tax breaks to Big business owners because they provide jobs, and governments offer tax breaks to investors because they invest their money back into the economy. Special tax breaks were usually giving to p
Just for two weeks Chapter 49
"The mission is the most important part of the business. It is the spirit of the business. It is the heart of the business," he continued. "Without spirit and heart, most entrepreneurs will not make it, simply because the road ahead is a hard one." The world is filled with great products that fail. The product fail because they didn't have the power of the big business and investor. A create business will have a strong mission, great leadership, a competent team of managers who work well together, excellent cash flow and financing, clear effective sales and marketing communications, systems that works effectively, clear and tight documents and agreements, and of course, a great product. Too many businesses were people dependant. McDonald's is system dependant. It has well-designed systems. Jason had looked at so many businesses that were top-heavy, staffed by highly educated and highly paid people who were working hard and accomplishing little. In most cases, these types of bu
Just for two weeks Chapter 50
Kittridge's mother was of Scottish heritage, and she gave Kittridge some sage advice that he always tried to follow."Trust in God and be true to yourself."His mother enjoyed lavish spectacle, and she liked to watch the royal procession and ceremonies from Europe. Kittridge's flamboyant side came from her mother, she was Scotch and very careful with money and time. She always had time to give to charity and needy causes, so her interest were diverse yet well-balanced. Kittridge's mother was a devout person, she lived her faith. Which was a great example to Kittridge as a child and as an adult. She was very strong and yet gentle, and she was also very humble. She gave everything she had without reservation. He spoke so highly of his parents for a good reason. His mother's advice was simple but wise. It cuts to the core and kept him focused and well-balanced. "Trust in God and be true to yourself." It didn't get any better than that. A defining moment in Jason's life was when he disco
Just for two weeks Chapter 51
While growing up, there were two points about God, Church and religion that were confusing for Jason. The first was the idea that some people went to heaven and others did not, even if they believed in the same God. He remembered asking her Sunday school teacher, "What is the difference between our church and the Catholic Church?" He was eight years old, attending the Protestant church his parents belonged to, and was curious about the differences. It shocked Jason when his teacher said, "Well, we both believe in Jesus Christ, but Catholics won't go to heaven." The answer floored Jason. When he asked asked why that was, she simply said, "They don't belong to the right church." Disturbed and even more curious. He asked his Catholic Classmate if he could go to church with him. For the next few months, Jason went to a Catholic Church and found out that the congregation was made of good people who believed in the same God as his family did. He stopped going to Sunday school at his par
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