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Unto the Third Generation – part 19

The Grand Children of Edward Rashford could not manage a lemonade stand,  much less inter connected corporations.

Those whom they hired and attempted to treat as servants, retaliated.    Many retired at fat pensions with stock options, which they used to capture various segments of the business.   The Grandchildren, who never got their hands dirty, had no idea what was coming.

When  they could not pay their bills, they sold their Grandfather’s mansion.   Due to their ignorance of the market and how to gain purchasers, they got a fraction of its value, which they divided among themselves.

The purchasers sold the mansion at nearly three times what they  paid for  it.

The Grandchildren who knew nothing of import fees, of taxes, of various costs, which needed to be paid, found themselves swamped in debt.

Where Grandfather and Eric were chary of  interest on debts, careful in mortgaging, borrowing,   the Grandchildren were taken by surprise.

They had to liquidate assets, sell property.

Forty years after the death of their Grandfather, they  found themselves no longer rich.

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Written by jaylar

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