Archive for the ‘Anecdotes’ Category

The Legend Of Bill Paley

Monday, October 9th, 2006

Bill Paley’s father and uncle were millionaire cigar makers and distributors in Philadelphia. Paley received one million dollars from his father to go into business. The business failed and he lost all the money.

He went to his father a second time for another one million dollars to go into another business. That business also failed, and he lost all the money again.

He went to his father a third time, for another one million dollars to become a partner in the CBS radio network, a dinky little network owned by someone he met at synagogue. His father told him he would give him the million dollars, but if he lost the money again he would have to go into the cigar business with his father and uncle.

Paley tried to sell advertising on CBS radio, but there were no buyers. Again, he went to his father and this time asked him to buy advertising for La Paloma cigars. The elder Paley decided to purchase some advertising. Sales of La Paloma cigars went up.

Bill Paley’s partner used the La Paloma ad campaign to sell time to additional advertisers.

Later, Bill Paley bought out his partner, and took credit for founding the network and making it a success. Thus the legend was born.

Bill Paley also went to great pains to erase all vestiges of his Jewish heritage, passing himself off as a WASP.

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This story is given to me by my husband, after a conversation we had trading stories about successful entrepreneurs in which he was illustrating his abiding interest in how they really got their start.

Dead Man Pays Hydro Bill For 40 Years

Wednesday, October 4th, 2006

She’s in her 80s and has been a widow for almost 40 years. We’re sitting at her kitchen table, and I notice a flyer from Toronto Hydro addressed to …you guessed it.

“Are your Hydro bills still in his name?” I ask.

“Yes. Do you think I shouldn’t pay them?”

“Well, no, but didn’t you inform them?”

“Of course I did, several times, but they never changed it so I gave up.”

I’ve called Hydro for her and had it changed now. My first thought had been that, following 911, we were advised to bring a utility bill to prove our identity to Immigration when crossing the border.

Dead man voting isn’t the only possible consequence.

The Best Logo Ever

Friday, September 29th, 2006

Some years ago, a friend told me this story. She was married at the time to a graphic designer who specialized in corporate logos.

During a visit to Montreal, she noticed her young daughter gazing spellbound through their hotel room window at the cross on the mountain, lit and blazing for the night. Her daughter asked her what it was.

After a moment’s reflection, my friend answered, first asking her daughter the question, “do you know what Daddy does?”. When her daughter nodded assent, Mom answered the original question by saying, “That is the best logo ever designed.”.

Believing In Things We Can’t See

Wednesday, September 20th, 2006

first a story…

As recently as 20 years ago, it was extremely rare to find a Western physician who did not believe that acupuncture was quackery, yet today more and more younger GPs suggest it to patients with chronic conditions that the GPs themselves cannot cure.

In the late 90s, my Jewish acupuncturist friend (there’s another great story there) related the following:

He said that a specialist in an American hospital was interested in connections between the human nervous systems. The specialist was using life sized maps with transparent backgrounds, and had laid the map of the Peripheral (Sympathetic & Parasympathetic) System over that of the Central Nervous System. As he stood pondering the resulting image, a colleague wandered in.

The colleague glanced at the combined image on the wall and asked, “You’re studying acupuncture?”. Startled, the specialist asked what he meant. The answer was that the main acupuncture points are located exactly at the junctures where the two systems intersect.

Now, as far as I know, Western medicine has yet to nail down any fully defined scientific basis for acupuncture, let alone really understand how and if it ‘works’. Nevertheless, the recognition of something that could be SEEN went further in broaching some time honored traditions of skepticism than any endless number of patients claiming or exhibiting relief or cure. Human opinions and claims, after all, are subjective, and can as possibly be imagined as real.

Scientists rely on facts and proof. In fact, there are now schools of thought that would see the abandonment of belief entirely, viewing it as useless and almost impossible to define.

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About Belief

We cannot function without lots of beliefs which we have not proven as fact.

We teach our children via their natural curiosity and desire to learn. If belief required proof to take on the certainty of truth, then every one of our children would have to burn their hands on the stove even though we’d told them what the result would be.

Our concepts of belief are inextricably linked to trust and credence, reliance and assurance.

If you sat down and actually listed the millions of things you believe, and upon which you base decisions and actions constantly, and then separated those which you had personally verified as factual truth from those you had been told or taught, you’d come up with one extremely short and another extremely long list. You could cheat and say, but someone else has proved this. You still chose to believe them.

Regular examination of our beliefs is a good and necessary thing, as exampled by:

Any experienced businessperson will only be successful as long as they continually adapt to changing market conditions.

Any government or political representative you choose to vote for should no longer receive your vote if he/she betrays your trust.

Any professional has an obligation to stay abreast of new knowledge, premises, laws, etc. in their field in order to practice responsibly.

Even in those personal matters where our love, faith, loyalty and allegiance are not subject to question, we participate in important rituals through which we renew and reaffirm our pledges.

Examination is a good thing because all our actions have consequences and we bear responsibility for these.

The strength, value, bases, and comprehension of our beliefs can be translated directly into personal happiness and success, the choice of appropriate and outstanding relationships, and exceptional realization of personal potential.

Think of a story from your own life experiences, of the list of beliefs you held when it began, of how any of them changed along the way, and of their relationship to the conclusion. If you are a strict scientist type, you could still try it secretly.
You may need a second step, to cull out expectations and even wishes masquerading as beliefs. An unexpected benefit of this exercise can be the recognition of fundamental beliefs so basic and long-standing that you haven’t previously examined them.

We do postmortems on business deals and transactions all the time. Extending that process to the personal level can have as many, and even more benefits.

Knowing what has worked well in our lives and what hasn’t, leads us naturally to repeat the first and avoid the second. Knowing why, as well as taking into account how the world around us changes, empowers us to broaden our scope with truer aim.

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Something Personal…

My first given name, Vera, has two translations from its Russian origin.

The first is belief. This meaning is widely exemplified in the common term for the Creed of the Russian Orthodox Church (the closest to original Nicene creed, I think), which is its first word –Veruyu – meaning I Believe.

The second is faith. In the Orthodox Church’s pantheon of saints, Sophia’s (wisdom) 3 daughters are named Vera, Nadezhda, & Lyubhov (also 3 of the most common Russian female names better recognized as Vera, Nadya, and Luba). The English versions of these 3 sisters’ names are Faith, Hope, and Charity (originally Love).

Anecdote For Entrepreneurs

Friday, September 15th, 2006

It is 1990-91, deep into recession, and we’re working on salvaging a $270mm investment.

It’s a gorgeous highrise in a prime location in Manhattan. It cost more to build than it should have and it’s standing almost empty. Only the bottom feeders are buying and the best offer is under $100mm.

One of the players on the turnaround team is a brilliant, quirky NYC consultant. He approaches the building one overcast morning, heading to a strategy meeting, and stops dead upon seeing a young man who is clicking a handheld counter standing on the sidewalk in front of the main entrance.

“Hey,” says our consultant, “what are you doing?”

“Counting traffic.”

“Why?”

“We’ve been hired to count how many people come here, for valuation purposes.”

The consultant looks at the empty building behind the young man, and then takes the counter away from him.

“Do you think Bugsy Siegal hired a traffic counter to stand in an empty desert in Nevada?” he asks, “The building is empty! Why would anyone come here?”.

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postscriptum
The property ended up turning a handsome profit, instead of the huge loss that had been accepted and expected.