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A construction business that went under water
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Harbor Marine was liquidated.
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Hattie talking with Ray on docks of the bay.Go to the Transcript of this episode of the show.Go to the Case Study Guide.Go to the Video
This is all of our stories ...of life then death.
Providence: Ray DiSanto was a decent man. A hard worker. He was that big fellow in your high school class who didn't say too much, but was a good guy. Everybody liked him. He bought a pick-up truck and began tearing down buildings. He always had money but never acted rich. And, he never had a job, yet he has always created work for himself and then for many others.
When we looked closely at Ray and his business back in 1999, we found no fancy tricks, no clever strategies, no highfalutin power lunches, no getting rich quick. We found over 40 people who loved Harbor Marine and loved working just as hard as Ray. They got the job done. The business grew. But when Ray died tragically, everybody discovered there was no succession plan in place so the business was liquidated. We revisit this story in an episode titled, Exit Strategies and Equity Models. Even in his passing, we can learn a lot from Ray.
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