REWARDS OF


BEING RICH




 

It’s All Relative


John Jacob Astor, then the richest man in America, explained to Julia Ward Howe: “A man who has a million dollars is as well off as if he were rich.”


When a reporter asked J. Paul Getty if his wealth exceeded a billion dollars, the oilman thought for a minute and said: “Probably,” and after another pause added: “But remember, a billion dollars doesn’t go as far a s it used to.”


Small Change


Nubar Gulbenkian was filling out a form sent by a market research company, and one of the questions asked what his position was. “Enviable,” he wrote.


Once when he bought a new Rolls-Royce, Gulbenkian. was excited by the new automobile’s perfect steering. “It can turn on a sixpence,” he tried to explain to a friend, “—whatever that is.”


The Works


The head of the Austrian branch of the Rothschild family invited to a banquet Julius Bauer, the Hungarian-born humorist who was a favorite with the Viennese in the early part of this century.. After the formal toasts, a general cry went up for Bauer to speak. He complied with exactly the kind of witty, light, and pointed speech that the guests wanted.


Afterward, Count Rothschild himself rushed up to his guest in a state of rapture: “Ah, Herr Bauer, 1 wish I could be as witty as you!” he gushed. The humorist fixed him with a mournful stare: “What, that too?”


Lucky


On top of their immense wealth, the Rothschilds were also proverbially lucky. Another story from the days of the Austro-Hungarian monarchy has a poor vendor of lottery tickets selling Count Rothschild a ticket, which then won the top prize of 600,000 gold crowns. Next day the seller called on Rothschild: “In addition to your uncounted wealth, you have won, sir, the top prize in the lottery. I had the great honor of selling the ticket to you myself. Here is the number .


“My dear man, no need to go on,” said the banker graciously, “I’m most happy that you came to see me and that I can express my gratitude. I am going to give you an annuity of six thousand gold crowns for life; you will start receiving 500 crowns at the beginning of each month.”


The lottery vendor would not hear of such an arrangement: “Sir, be kind enough to give me six thousand crowns once and for all.”


“But why would you want only six thousand just once,” asked the astonished count, “when I’m offering you that much each and every year for the rest of your life?”


The poor man had a ready explanation: “Because with your luck, sir, I doubt if I’d live to the first of next month.”


Plutocrats


During the l890s, the age called “gilded” by Mark Twain, the gulf between the rich and poor became more like a Grand Canyon. While the poor were reeling from one depression to another, and their armies were marching on Washington, D.C., the nouveau riche achieve(l new levels of extravagance reminiscent of the decline of Rome. Charles and Mary Beard described some of these excesses in their book .The Rise of American Civilization: At a dinner eaten on horseback, the favorite steed was fed flowers and champagne; to a small black-and-tan dog wearing a diamond collar worth $15,000 a lavish banquet was tendered; at one function, the cigarettes were wrapped in hundred dollar bills; at another, fine black pearls were given to the diners in their oysters; at a third, an elaborate feast was served to boon companions in a mine from which came the fortune of the host. Then weary of such limited diversions, the plutocracy contrived more freakish occasions with monkeys seated between guests, human gold fish swimming about in pools, or chorus girls hopping out of pies.


The Working Rich


Most people have heard F. Scott Fitzgerald’s famous dictum that “the rich are different from you and me,” and also Ernest Hemingway’s retort: “Yes, they have more money.” Sometimes they also work harder.


H .L. Hunt, whom Life magazine in 1948 called the richest man in America, remained a shy, hard-working recluse who would rather leave his modest auto-mobile a few blocks from his skyscraper in Dallas than pay what he considered a stiff parking fee. During World War II, Hunt Oil produced more oil than the whole German Reich (including the Rumanian oil fields), yet Hunt, who spent much of his money on conservative causes, did not care that much for wealth . “Money as money is nothing,” he would say, “it is just something to make bookkeeping more convenient.”


In the 1950s, Hunt had to fly from Dallas to New York at a moment’s notice and called the Waldorf-Astoria to have his regular suite ready. The king and queen of the Hellenes happened to be staying in the suite, and the embarrassed management hurriedly moved them into another. When Hunt arrived, he noticed that the Greek royal couple had left large bouquets of flowers. “Isn’t it nice of the king and queen,” the tycoon remarked to his entourage, “to leave us all their flowers.”



Little Gloria, Happy at Last


One of the wealthiest women in America, Gloria Vanderbilt is also one of the working rich. Asked which felt better—inherited or earned money—she replied without hesitation: “Oh, darling, the money you make is better.”


Ancestors


William Gladstone, prime minister to Queen Victoria, once saw an old painting in a dusty antique shop. It was the portrait of an aristocrat, dressed in velvet and lace in the fashion of the sixteenth century. Although Gladstone liked the painting a great deal, he did not want to pay the price the dealer was asking. Not long after-ward he was invited to the house of a rich merchant and noticed the same painting. While he stood in front of it and admiring it afresh, his host came up and said: “I’m glad you like him. He is one of my Elizabethan ancestors. Actually, he was a

minister to the Queen.”


“Three guineas less,” replied Gladstone, “and he would have been my ancestor.”


Heirs



At a White House dinner given by Theodore Roosevelt, Mrs. Nancy Astor was seated ahead of Mrs. Grace Vanderbilt. “ The Astors skinned skunks a hundred years before the Vanderbilts worked ferries,” Mrs. Astor explained.


Memory


Toward the end of his life, Cornelius Vanderbilt was staying at a Saratoga hotel with his family. In the lobby, a somewhat overdressed lady approached the old man and reminded him of their acquaintance. The Commodore spent some time chatting affably with her, while his wife and daughter sat stonily and sniffed the air with scorn . Afterward, his daughter reproached him: “Father, don’t you remember her as that vulgar woman who used to sell us poultry back at home?”


“I certainly do,” the old man replied, “and I remember your mother when she used to sell root-beer at three cents a glass over in Jersey, when I went up there from Staten Island peddling oysters out of my boat.”


Definition of a Yacht


Cornelius Vanderbilt was attending dinner at Bar Harbor, Maine, to celebrate the victory of his sloop Aurora in the squadron run from Portland to Rockland. In an after-dinner speech, he declared: “Yachts like these don’t come under the cynical definition I once heard a Camden lobsterman give . ‘What exactly is a yacht?’ a lady said to this old lobsterman. He plugged a lobster’s claws and mocked: ‘What’s a yacht? Oh, ye just take an old tub or craft, and’ fill her up with whiskey an’ more chicken an’ cigars, an’ thet’s a yacht.”’


Cruising


Franklin Roosevelt was a frequent guest aboard Vincent Astor’s yacht the Nourmahal. Once when he received an invitation for a winter cruise, he said: “I hope you aren’t putting that big boat in commission just for me.


“The Nourmahal is commissioned all year round, Mr. President,” Astor replied.


“ln tha t case, I guess we’ll have to raise the taxes o n the rich again,”

laughed F.D.R.



History


Among the many properties William Randolph Hearst bought was St.

Donat’s castle in Wales. When his wife heard that the castle was Norman, she asked: “Norman who?”


Closed Doors


J. P. Morgan heard through the grapevine that his protege, Charles Schwab, was going out with a chorus girl. “I’m really disappointed in you,” the financier called him on the carpet.


“But, Mr. Morgan,” protested Schwab, “at least I’m not a hypocrite. All I did was what other young men in my position, or you yourself have been doing behind closed doors, for years.”


“And that’s what doors are for,” replied Morgan.


Room Service


Thomas Du Pont, industrialist and Delaware politician in the 1920s, once found a sexy feminine nightgown in the Chicago suite where he was staying. He rang for the manager and handed the garment to him with the order: “Fill it, and bring it back.”


They Are Playing My Tune


The man who parlayed $1 ,000 into the worldwide Sheraton hotel chain also enjoyed photography and writing songs. It was a tradition that whenever Ernest Henderson walked past a Sheraton bandstand, the orchestra would strike up one of his tunes.


Such Stuff as Dreams Are Made Of


According to another hotelman, when Conrad Hilton was having the first night of his honeymoon with Zsa Zsa Gabor, he was also deep into negotiations about adding another hotel to his chain. His chief competitor was Ernest Henderson, founder of the rival Sheraton chain. Hilton was waiting in the bridal suite while his movie-star bride was delaying her entrance from the lavish bathroom. When she finally came into the bedroom, Zsa Zsa saw Conrad’s eyes dreamily abstracted, seemingly filled with anticipation and lust. Just to make sure, Zsa Zsa wrapped her soft arms around her latest husband, sat herself comfortably in his lap, and in a very sexy voice purred into his ears: “Vat are you teenkink, my beeg, handsome dahlink?”


And Hilton was supposed to have replied equally softly and sexily: “I’m thinking. .. I am dreaming of how I’m going to grab the Blackstone away from under Ernie Henderson s nose.


Naps


Despite the constant controversies swirling around him, the hatred inspired by his acquisitiveness, and the death threats, John D. Rockefeller lived to be almost 100, reputedly with all his original teeth intact. There is no word that he ever did push- ups, jogged, or pedaled an executive bicycle. He had a placid disposition. He never got excited and was never rushed. He did have a secret: he always took a half hour nap at noon.


Later in life he would take as many as five naps in his simple office on 26 Broadway. It was of that room that a disappointed visitor once asked: “How can you hope to impress anybody in an office like this?” “Who do I have to impress?” Rockefeller replied.


Protocol


Society columnist Igor Cassini once asked Bernard Baruch how he

arranged the seating at his dinner tables so as not to offend any of the numerous notables.


“I never bother about that,” Baruch replied. “Those who matter don’t mind, and those who mind don’t matter.”


Turkey


Baruch himself was guest of honor at a Thanksgiving night banquet, at which Jimmie Walker was the toastmaster. He introduced the Sage of Wall Street: “You have been giving your attention to turkey stuffed with sage. I now present to you a sage stuffed with turkey.”


Conversation Partner


Robert Lacey, in preparing research for his recent biography of the reclusive Henry Ford II , was given every discouragement . One assistant told the biographer: “Mr. Ford has learnt from experience never to trust writers.” And, “Mr. Ford feels like a monkey who has put his hand through the bars of the cage too many times for a banana, while journalist after journalist stubbed their cigarettes out on him.”



Unfazed, Lacey moved his family from England to Detroit, and stormed Motown’s social bastions to get close to his quarry. At the first dinner party where the Laceys met Kathy and Henry Ford, the writer’s wife found herself seated next to the industrialist. Without any preamble, Ford asked her: “Tell me, would you rather have AIDS or a Third World War?”


Mrs. Lacey was somewhat lost for words, but finally managed to mumble her preference for AIDS.


“Oh, I’d rather have another war,” Henry Ford begged to differ, “I had a good war last time round, I enjoyed that war. And he went back to his meal.


Yes, Virginia, There Are Free Lunches


The 1986 Christmas season saw big-ticket giveaways as inducements for the rich to buy even bigger ticket items. Antonio Martinez-Monfort found it difficult to sell luxury condos in Tampa, Florida, until he offered to throw in a $30,000 BMW “for free.” Chicago jeweler Lester Lampert wanted to give away a Rolls-Royce Silver Shadow to the purchaser of his $425,000 diamond baubles. And another jeweler, Fred Joailler of Fifth Avenue, tried to lure customers by offering a free trip to Paris where one would stay at the top luxury hotel and eat at iop restaurants. “We think that no one,” Mr. Joailler told Newsweek, “should he exempt from getting something for nothing.” The rich must have decided otherwise, because no one had claimed the trip by the week before Christmas. Newsweek thought it may have had something to do with the free ticket to Paris: it was only coach class.


Cheap Coffin


There are several stories about misers carrying their penury close to their graves. in England, at the turn of the nineteenth century, there was Edward Nokes who, according to a contemporary account, gave a strict charge that his coffin should not have a nail in it. This was actually adhered to, the lid being made fast with hinges of cord, and minus a coffin-plate, for which the initials E. N. cut upon the wood were substituted. His shroud was made of a pound of wool. The coffin was covered with a sheet in place of a pall.


The same source describes Thomas Pitt of Warwickshire, who some weeks prior to the sickness which terminated his despicable career, went to several undertakers in quest of a cheap coffin.”


Mongrel Love


Hetty Green showed the most warmth toward her dogs. At one time she had a mongrel that liked to bite visitors. One of them suggested that she should get rid of the dog. Mrs. Green refused, saying: “The dog loves me—and he doesn’t even know how rich I am.”


Values


The world was shocked when J. Paul Cetty paid the ransom to his grandson’s Italian kidnapers only after they had mailed the boy’s ear to him . In 1956 his 12-year-old son, Timmy, was dying of a brain tumor, but Getty could not find the time to leave Britain and visit him in California.


Yet the billionaire was not entirely heartless. When his dogs got sick, he spared no expense and he reportedly cried for three days when one of them died.


Lost Appetite


Ostervald, a Parisian banker, left three million francs when he died in 1790. He began accumulating money early. He was accustomed to drink a pint of beer at a local tavern where he had his daily supper. After each meal he would collect as many bottle corks as he could find, and in the end he sold these for twelve louis d’or. This became the foundation of Ostervald’s splendid fortune, gained for the most part by stockjobbing. A few days before his death, a servant importuned him to purchase some meat to make a little soup for his master.


“True, I should like the soup,” said the dying millionaire, “but I have no appetite for the meat—and what is to become of that? It would be a sad waste.


Easy Come, Easy Go


In 1983 Steve Jobs was the largest stockholder in Apple Computer, whose stock was selling at above $60. Still in his twenties, the co-founder of Apple had a mystic streak. Not long before he had wandered about barefoot in India in search of higher truth.


A year later, the stock lost two-thirds of its value, which personally cost Jobs $250 million . Asked how he felt about losing a quarter billion dollars, the young man shrugged and replied: “It’s very character-building.”


Good News, Bad News


Jack Gallagher, the Calgary oilman who built Dome Petroleum into the largest oil company in Canada, took on enormous risks and debts with Arctic exploration and by buying companies. In 1982, high interest rates had driven the company to the brink of bankruptcy. But for government bailouts, the company would have been completely broke . There was a joke making the rounds at the time that one of the Dome vice presidents came to see Gallagher:

          “I’ve got good news and bad news.

          “What’s your good news?” asked Gallagher.

          “We can buy Gulf Oil for only $200 million.”

          “Great,” Gallagher exclaimed, “but what’s the bad news?”

          “They want fifty bucks down.”


SUCCESS

Maxim


On the occasion of an interview between Sir Thomas Buxton and Nathan

Rothschild, the latter said:

My success has always turned upon one maxim. I said, I can do what another man can, and so I am a match for all the rest of ‘em. Another advantage I had—I was always an off-hand man; I made a bargain at once.


When I was settled in London, the East India Company had eight hundred thousand pounds in gold to sell . I went to the sale, and bought the whole of it. I knew the Duke of Wellington must have it. I had bought a great many bills of his at a large discount. The government sent for me. and said they must have it. When they had got it, they didn’t know how to get it to Portugal where they wanted it. I undertook all that, and sent it through France; and that was the best business I ever did in my life.


Stratagem


James Rothschild once described three different kinds of stratagems to be used in business: “The first situation is when a man jealously guards his business secrets and tries his utmost to penetrate those of his competitors. The second approach is more difficult: creating all kinds of false plans, which have the semblance of complete credibility. The third method is to be so completely frank about one’s true intentions that nobody believes it.”


After a slight pause, James Rothschild said quietly: “I think the third approach is probably the best; at least that is what I invariably employ myself.”


From Acorns


Salomon, founder of the Austrian branch of the House of Rothschild, was

once walking with a friend in the streets of Vienna. A pickpocket following them tried to lift a red silk handkerchief from the banker’s jacket pocket. The friend noticed and tried to warn Rothschild: “My dear Count, this fellow is trying to steal your handkerchief!”


“So what? Let him be,” Rothschild gestured “we all started small.”


Greed Doesn’t Pay


Before Cornelius Vanderbilt had become the undisputed master of the seas, he was anxious to get a piece of the transatlantic traffic, which was dominated at the time by the Collins Line of steamers. Along with the route came fat government subsidies to carry the mail. When one of Collins’s ships, the Arctic, went down, Vanderbilt saw his opportunity and asked Collins to allow his steamer to run the route. He promised to make no claim for the mail subsidy and to take his steamer off as soon as Collins built another boat. But Collins was afraid to let his competitor get hold of any foreign trade and refused in such a manner as to arouse the Commodore’s anger . In response, Vanderbilt told Collins that he would run the latter’s line off the ocean if it took his whole life and entire fortune to do it.


Vanderbilt at once offered the government to carry the mail more promptly and regularly than it had ever been done before and to do this without a single cent in subsidy. He was known to carry out his promises, and he pressed his offer on the government so vigorously that he was successful in obtaining the mail route. The subsidy to Collins was withdrawn, and the magnificent line soon fell to pieces in consequence of the bankruptcy of its owner, who might have averted his fate, states a contemporary account, by the exercise of a little liberality.


Self-Made and Proud of It


In the fierce newspaper battles of the nineteenth century. Horace Creeley had a continuing feud with a rival editor in New York. Once, when they were both guests at the same banquet, the editor boasted that Creeley had every advantage from his background, while he himself was “a purely self-made man.” Greeley immediately declared: “My worthy colleague has just relieved the Almighty of an awesome responsibility.”


This calls to mind another story, when somebody was trying to defend Benjamin Disraeli to John Bright, another English politician. His defender pointed out that Disraeli should at least be given credit for being a self-made man.


“Yes,” retorted Bright, “and how he adores his maker.”


Faith


Somebody onc e asked Andrew Carnegie for the main ingredient in his success. “Faith,” replied the steel magnate. “Faith in myself, faith in others, and faith in my business.”


Incentive


Charles Schwab, the man whom Andrew Carnegie paid one million dollars a year to run his steel empire, said: I consider my ability to arouse enthusiasm among men the greatest asset that I possess, and the way to develop the best that is in man is by appreciation and encouragement. There is nothing else that so kills the ambitions of a man as criticism from his superiors. I never criticize anyone . I believe in giving a man incentive to work . So I am anxious to praise but loath to find fault. If I like anything, I am hearty in my appreciation and lavish in my praise.


How to Make a Hundred Million—Legally


When Andrew Carnegie wanted to sell his steel plant, he resorted to bluff.

At first, he sold a year’s option to his partner, Henry Clay Frick, to buy him out for $100 million. Frick tried to sell the plant to J.P. Morgan, as a basis for setting up a steel trust. But after repeated attempts, he could not interest the financier, so at the end of the year he thought that Carnegie should return the option money. Carnegie wrangled with him, and finally said: “You don’t know how to sell a plant. I will not give you hack one cent from your option.”


As a consequence, Frick dissolved the partnership, forcing Carnegie to buy him out on the basis of the $100 million evaluation.


Carnegie still needed to find a buyer for his steel plant. He went about it indirectly. He began at once to commission a survey for a railroad line from Pittsburgh to New York. He spent about $250,000 in getting rights of way and other things, but this was a bagatelle in the game. Inevitably, his activities came to the notice of A. J. Cassett, president of the Pennsylvania Railroad, who became alarmed. Cassett hurried from Philadelphia to New York to see J. P. Morgan about it.



“Morgan,” he said, “if this man Carnegie builds this railroad, and it looks as though he means business, he will put the Pennsylvania Railroad in the hands of a receiver. Do you know what that will mean?”


“What will it mean?” asked Morgan.


“It will mean receiverships for all the trunk lines in America. It must be stopped. I wish you would send for Carnegie and see what can be done.”


Morgan did send for Carnegie, who told Morgan that the only way to stop that railroad was to buy out his steel plant, and that he would sell the plant for $200 million and take it all in bonds.


“‘I will take it,” said Mor an at once. He thereupon organized the United States Steel Trust, and with Carnegie’s aid secured several other steel plants. The bonds were put on the market, and they were at once gobbled up by the public . Of course, the railroad never was built, and Carnegie later revealed that he never intended to build it. He simply put up a bluff and carried it through. And that is how U.S. Steel was formed, and Carnegie was canny enough to double the option price he had offered to Frick.


Mathematic’s


Julius Rosenwald, the Chicago multimillionaire and philanthropist, used to tell the following story about the connection between intelligence and making money: “A gambler won a million dollars on number 14. When asked how he did it, ‘I had a dream,’ he said. ‘One night I saw in my dream a great big 9, and next I saw the number 6. So I used my brains and figured out that 9 plus 6 is 14.”’


Peanuts


George Washington Carver was responsible for turning the lowly peanut into an industry. He was once approached by a friend who noticed that he was reading the Bible.


“What are you doing?” the friend asked.


“I am studying about peanuts,” replied Dr. Carver. “To me you seem to be reading the Bible.” “I am reading how God reveals Himself to men,” explained the agriculturist, “and for me God is revealing Himself through peanuts.”


A Way to Look at It


When F. W. Woolworth opened his first store, a merchant on the same street tried to fight the new competition. He hung out a big sign: “Doing business in this same spot for over fifty years.” The next day Woolworth also put out a sign. It read: “Established a week ago; no old stock.”


Door to the Future


Clarence Francis, who later became chairman of General Foods, originally wanted to get into the oil business. As he planned his career, he targeted Standard Oil as the place where he wanted to get a start. He carefully prepared himself, rehearsed his pitch, pressed his only suit, and went down to Wall Street, where Standard Oil had its skyscraper.


Young Francis asked the janitor for the secretary of the company and took the elevator to the designated floor, where he went down the hallway until he found an open door. Adjusting his tie for the tenth time and quickly combing his hair, he once again asked for the secretary of the company. Somewhat to his surprise, he was ushered in to see an old gentleman who listened to his sales pitch and hired the promising young man as a clerical worker on the spot.


          “Every day for a long time afterwards,” Clarence Francis recalled, “I took a good look at the door that was open. The sign on it read: ‘Corn Products Co.”’ And that’s how he got into the food business.



How to Make Friends and Money


Despite early successs as a salesman of correspondence courses and of Packard automobiles and a brief career as an actor, Dale Carnegie was slow in finding his route to success. He had a teacher’s certificate, but he did not know what to teach. Then he remembered how in his entire education the most important thing he had learned was public speaking. This is what gave him confidence and poise, the ability to deal with people both on the personal level and in business. He proposed to the YMCA schools of New York that he should give courses in public speaking to businessmen. The YMCA had so little confidence in the idea that they refused to pay him the $2 a night he requested as his fee. Instead, they agreed to give him a percentage of the net profits. Within three years, the course proved so popular that Carnegie was receiving $30 a night, and he was besieged with offers to teach in other U.S. cities and in Europe. Out of these courses came the first of many best- sellers, Public Speaking and Influencing Men in Business and the Dale Carnegie Institute, which still conducts seminars worldwide.


American Dreams


As far back as he could remember, Tom Monaghan, founder of Domino’s Pizza , had been given to big dreams. An orphan from a poor family in rural Michigan, Tom in his teens was dreaming about owning the Detroit Tigers one day. Dropping out of college, he started a tiny pizza store in 1960; today he runs the world’s largest pizza delivery company, with annual sales above $2 billion. He owns a franchise of 4,100 stores, still growing, and employing 130,000 people. And, of course, he owns the Detroit Tigers, having paid $53 million for the baseball team in 1983.


“Dreaming is the greatest preparation for wealth,” Tom Monaghan told The Los Angeles Times. “Because when the opportunity came, I think I was ready for it. A lot of people around me would see me doing things that made no sense to them at all . . . but I had a big jump on them. I was thinking about these things years ago.


The Wright Stuff


A passion that Tom Monaghan had been nursing since adolescence is for the work of Frank Lloyd Wright, another American original. Monaghan has built a collection of Wright furniture and decorative art worth about $13 million. He paid $200,000 for a simple chair designed by Wright, and a record $1.6 million for a dining room set. He is spending millions more on converting a hunting lodge on a private island in Lake Huron into a retreat based on Wright’s design concepts. Domino’s corporate headquarters outside Ann Arbor is also being built in the Wright style, covering 1 million square feet . Monaghan recently announced his latest tribute to the architect: plans to build an $80 million conference center, with a 435 foot cantilevered tower that will be leaning off center. He wants to call it Domino’s Tower, but local wags have already christened it “The Leaning Tower of Pizza.”


Last Words


At the age of 77, George Eastman, the founder of Kodak, asked his doctor to show him where his heart was and then shot himself. He explained in a note to his friends: “The work is done. Why wait?”


And Then What


Toward the end of his life Meyer Guggenheim, who made his fortune in mining, was working in his office, when a man burst in, trying to sell him a new smelting process. With his invention, the man claimed in highly excited German, Guggen-heim could gain control of all the copper in the world. Meyer listened. The man went on that the next step would be to control all mineral wealth on earth . Old Meyer was unmoved, while the visitor got more excited.


“But, don’t you see, that with all that, you would become the richest and most powerful man in the entire world?”


Guggenheim leaned back in his chair, pulled at his whiskers, and finally said: “Und dann?”


Exit


Martin Zweig, the investment counselor, has an abstract painting hanging in his office with the motto from Ben Franklin: “ The things which hurt - - instruct.”


Zweig also likes to quote one of the stories told about P. T. Barnum when he became a victim of his own success. So many people were crowding into his shows that huge lines were forming outside the tent. To speed up his turnover, Barnum came up with a solution: he put up a big sign inside the tent, which read: “This way to the egress.” People, who thought that egress meant another attraction, eagerly filed outside.


It is my hope that the reader will find many new anecdotes outside my tent.


                                                   SOURCE:

                                             The Book of Business Anecdotes

                                                    copyright @ 1988 by: Peter Hay


                                                    This 1993 edition is published by Wings Books.

                                                    Distributed by: Outlet Book Company, Inc.

                                                                              (A Random House Company)

                                                                              40 Engelhard Avenue,

                                                                              Avenel, New Jersey 07001



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