Yesterday I wrote about my father’s realization that there might be a business opportunity doing road work construction in western SD.
Know-how he had. Cash and credit were needed. He went to a banker from Belvidere by the name of L.A. Pierre. Some folks questioned Mr. Pierre about doing business with a Jew, but that didn’t bother L.A. He and my father did business on a handshake for 23 years. L.A. supplied the finances, dad provided the know-how. They trusted each other and, as nearly as I know, never had a disagreement.
When the time came that L.A.’s family was no longer going to be in the business, one or the other of them suggested a price at which dad would buy out L.A. I never knew which one suggested the price but do know that it seemed fair all around, and the deal was done.
The one who provided the know-how was the one who kept the business, to the satisfaction of both.