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A conversation with Carolyn Mellon,Owners of Banks Steel Mills and oh yeah a Railroad (B&M Guilford)
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[quote]QUOTE: <i>Originally posted by Peterson6868</i> <br /><br />So what do you do then? <br />"We have our own lives and we get up every morning to earn our keep." <br />This is not the first time I have heard this. The White Anglo-Saxon Prosetent Work Ethic. The Childern of Rockefeller were only given one toy to play with at a time despite having closets full of them. Children of the wealty being seperated from the home lives to live in drab bording schools. Now it seems that the Old money that makes money the old fasioned way (Inherits It) wants nothing to do with Daddys Buisness other then get a trust check other month. -->SNIP<--- <br />My point here is that the Class 1 railroads are largely controled by attorneys who set up trust funds on behalf of its benificuarys. As long as the real owners get a dividend check from there trust fund every month they have little to complain about. The Real *%*holes are the attorneys and accountants for the trust funds who they appoint whoes job is to maximises profit at any cost so that they can keep there jobs. <br />[/quote] <br /> <br />Here is the grand balance in the overall equibrium that you are overlooking: <br /> <br />The Wealthy patriarchs who built those fortunes from scratch at some point became broken hearted with the eventual realization that "junior" didn't have what it takes to fill the old man's shoes,....and knew that the evil hired help (the lawyers and accountants) would eventually screw the trustees out of a great share of the familial equity, but knew there wasn't a darn thing they could do to stop it. <br /> <br />When the "old block" went on to his reward, the chips would fall where they may.
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