NEXT WEEK'S COMPOST
"When George Washington Vanderbilt III welcomed family and friends to Biltmore Estate on Christmas Eve in 1895, his holiday celebration marked the formal opening of the most ambitious home ever conceived in America. For six years an army of artisans had labored to create a country estate that would rival the great manors of Europe and embody the finest in architecture, landscape planning, and interior design. The results were astounding." (Opening paragraph - A Guide to Biltmore Estate)
On a recent trip to my native state of North Carolina, Irene and I visited this estate, located in Asheville, N. C. Astounding it is. Four acres of floor space, 250 rooms, 65 fireplaces, a vast collection of furnishings and artwork, and grounds to match. It is unreal.
George was 33.
35 years later George's heirs opened the estate to the public. Biltmore, like the vast landed baronies of Europe, some of which had endured for centuries, was no longer viable, even for the Vanderbilts.
Times had changed.
Only a few years ago people employed by AT&T could reasonably expect to remain so employed for their entire career if they so chose, and a civil service position with our Federal Government was the equivalent to life time financial security.
No longer.
1996; another year, another downsizing. AT&T started the year by announcing plans to lay off 40,000 people over the next three years, and our Federal Government ended 1995 with a partial shutdown. According to a recent article in The Economist, the United States has witnessed 3 Million lay-offs during the first half of the 90s, and there is no letup in sight.
Times are changing.
We can no longer look to large, distant, and impersonal institutions for our security (maybe we never could). It is becoming abundantly clear that if we are to have any real security, we must look to ourselves, our families, our neighbors, and our communities.
But is this really new? I think not. With the exception of the last 60 or so years, that's how it has always been.
We can get through this. I believe we can not only get through it, but we can come out better for it. In order to do so, however, it helps to keep a few fundamentals in mind.
* We are not equal to the sum of our toys. Malcom Forbes was either jesting or just plain wrong. The guy who dies with the most toys doesn't win - he just dies.
* Today's rose is next week's compost. The reverse is also true. Today's compost is next year's rose. Investment; profit; reinvestment. It is an eternally continuing process - just a little hard to see in one short lifetime.