How many times have you heard the story of wealth (think Clico) being created by one generation and lost by the younger generation? This happens all the time simply because the younger generation has no idea of sacrifice in order to achieve. They merely come into money and with lots of help from "advisers" who show them how to spend.
They go off and spend as if there is no tomorrow; sometimes they may make an occasional good decision, but in the long run, most times, they just do not possess the managerial skill to grow and sustain the business (think Clico) and when the "preordained" collapse comes they start to blame world recession or whatever, but never themselves, even defending the "indefensible."The world recession only made those companies that were badly managed collapse.
F Mouttet
via e-mail
