Final on Don and business!

Mr. Dreiske, as lenders called him, understood what most well educated, small and family owned business people do not understand. Debt is a necessary evil to be paid off as soon as physically possible. Don always paid his people fairly and on time. However, he paid himself when he needed to. By that I mean, most of the cash generated from his businesses went back into the business especially towards loans. He loved to pay cash and, if he had to borrow, he loved to pay it off as agreed and, usually, as fast as he could.

He was amazing in his ability to tell a property with potential from a bad one. As soon as he heard about the possibility of a property being on the market, he was on it. Lots of times, he got the deal because he had CASH! Imagine that. If he did not have all the cash he needed plus the cash he was going to need for the next 6 months or so, he borrowed. Banks and insurance companies lined up to loan to him. For two primary reasons: 1. He always paid as agreed or better, and 2. they trusted that if he wanted a property, or business, or whatever, he knew what he was doing. Did he ever miss? Sure, but rarely. And when he did miss, he did the right thing always. Fix it up and sell it OR sell as soon as possible to avoid increased exposure.

Don did take care of his managers and top management staff. Not outrageously like today, but adequately and sometimes surprisingly. Once when I was in financial trouble, he showed up at my office with a check, a large check. I told him thanks and how would I pay it back. He said not to worry. Get on my feet because I would do the same for him if I could. You know what? I would. I would do whatever I could if he needed anything. Businesswise or otherwise.

What do you think now?