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Reichmanns


Xerxes
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For those interested, the book Reichmanns covers the Canadian-Jewish family known for their real estate empire built through the Olympia and York company, which largely floundered when their Canary Wharf development faced headwinds.

 

I haven't read the book, so cannot get to the specifics, but browsing through it in the index section last week, the book has references to Cockwell, Brascan and Bronfmans etc. given that Reichmanns had business dealing with them in the latter part of the book. If I recall Canary Wharf was also owned by Reichmanns, prior to its sales to another party, which then sold to BAM.

 

https://www.amazon.ca/Reichmanns-Family-Fortune-Empire-Olympia/dp/0679308865/ref=sr_1_1?dchild=1&keywords=reichmann&qid=1597184015&sr=8-1

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I'd be very interested in reading it after you give your review. Although I read voraciously, I have an OCD thing about finishing books that I start, but at 800+ pages I want to make sure it's worth the time :)

 

Personally, I must admit for this year, that - so far - I've failed with regard to reading activity [too much IRL stuff to handle]. But Saluki's post, combined the post by VersaillesinNY now has me turned on.

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I've read both Reichmanns and Towers of Debt and I highly recommend both. The history of the family is very interesting to me.

 

What I find fascinating is that after all that empire building and cut throat deals, one of the few remaining bits and still the most successful bit is the tile store in North York which is where all of it started from in the first place.

 

Enjoy.

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Long time ago I had the good fortune to work in one of their companies. When they were younger they were very smart folks, but if you weren't family, or of the persuasion, your opportunities were pretty limited. Biggest takeaways were the difference between YOUR money, and other people's money - and the ability to swear competently in Yiddish!

 

Ultimately everybody gets old, and families have to make a decision. Founders have to step away, and put down the kool aid. Sadly, for them it didn't go so well, and it was the family that paid. It would seem that THERE IS A TOXIC LIMIT as to how large a family business can become - and that the stronger the individuals are, the more toxic it becomes. When business stops being 'fun' - it's time to either walk away, or sell off parts of the business until it becomes 'fun' again (the tile store). Do something else with the proceeds.

 

SD

 

 

 

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Is there something to deduct & learn from those books about the correlations between returns, size & libido? - In that case, I'll buy them right away! [ : - ) ]

 

Thankfully there's no libido in there.

 

There's no questioning of personal tastes but somehow the combination of Orthodox Jews and libido doesn't really do it for me.

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Is there something to deduct & learn from those books about the correlations between returns, size & libido? - In that case, I'll buy them right away! [ : - ) ]

Thankfully there's no libido in there.

There's no questioning of personal tastes but somehow the combination of Orthodox Jews and libido doesn't really do it for me.

If interested in the topic with time restraint, here are two useful references:

http://faithandworklife.org/wp-content/uploads/2010/12/faith_and_fortune.pdf

https://financialpost.com/opinion/a-hard-look-at-paul-reichmanns-long-goodbye

Paul Reichmann was a true genius but was also a gambler. In the end, this was about financial libido. A potential problem occurred when the collateral that banks relied on was substantially related to the reputation of a single individual. The best ways to 'kill' a man is to prevent him from working or to give him unlimited credit.

 

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Is there something to deduct & learn from those books about the correlations between returns, size & libido? - In that case, I'll buy them right away! [ : - ) ]

Thankfully there's no libido in there.

There's no questioning of personal tastes but somehow the combination of Orthodox Jews and libido doesn't really do it for me.

If interested in the topic with time restraint, here are two useful references:

http://faithandworklife.org/wp-content/uploads/2010/12/faith_and_fortune.pdf

https://financialpost.com/opinion/a-hard-look-at-paul-reichmanns-long-goodbye

Paul Reichmann was a true genius but was also a gambler. In the end, this was about financial libido. A potential problem occurred when the collateral that banks relied on was substantially related to the reputation of a single individual. The best ways to 'kill' a man is to prevent him from working or to give him unlimited credit.

 

They also mentioned  Dome Petroleum. Oh, the memories.

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Sadly there ain't many like 'smiling jack', and probably just as well - as the man was a hell of a salesman, and ahead of his time.

Domes innovations contributed hugely to today's LAPES methodology - especially when the drop has to done in the dark, just above sea level, and at a tiny artificial island surrounded by flares!

 

https://en.wikipedia.org/wiki/Low-altitude_parachute-extraction_system

 

SD

 

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