News
Short-Term Gain or Long-Term Investment?
Newsletter – Wednesday, November 17, 2010
They call it a rant when someone makes a passionate argument about an idea or topic. I think that some news shows are more rant than news. But if I may, I’d like to weigh in (nice way to put it, right?) on a news report that I heard this morning. Have you heard about the problems in Ireland? Or maybe like me, you have lost track of the EU countries that are on the brink of disaster.
Ireland once touted the most business friendly tax laws in the world. Governments were encouraging businesses to promote partnerships with Ireland because they had such a tax- friendly environment (like Google and their $3.1 billion tax break). However, with the current economic hard times, the Irish government has found itself in the unlucky position of taking over several banks because of the collapse of the country’s real estate market. Even worse, there are thousands of Irish workers now emigrating (again) from Ireland because there are no jobs, while only a few years ago European workers were coming into Ireland because it was the new land of opportunity – all because of the government’s failed tax policy.
Why are the people running government so short-sighted? Why do we as citizens value short-term gain over long-term investment? Why does my son think that winning the lottery is a career choice? If get-rich-quick schemes worked, then money would grow on trees. Instead we should build our businesses the way we would build our houses – with a good foundation, quality materials, talented workers and plenty of time to do the job right.
Investment in the long term is something the Tuscano Agency has plenty of. Our fortieth year in business is about to come to a close. Over the course of this year we have had the good fortune to travel to several cities in PA to meet you and share some stories and maybe a beer or two along the way. I hope our opportunity to hear from you doesn’t end there. I am on a mission to hear your story and learn what you value most in a brokerage relationship. Though I know I can’t be all things to all people, I do want to write as much of your brokered business as you will send our way.
The next time I write to you we will be in the thick of the holidays. Not only do I want to remind you to be responsible when you are celebrating, but that Tuscano has some great liquor liability products as well. (Yup – this is my letter and this is shameless self-promotion). Even more importantly, the package team is four of the best at writing hospitality risks. Teri, Michelle, Marcia, and Joann understand the dynamics of selling and will help you win the account. Plus, there is more good news for those of us who drink responsibly - one of our carriers has recently reduced their rates and they are certainly worth taking a look at.
Have a great Thanksgiving and most of all enjoy your family and friends. As usual we are closed on the Friday following Thanksgiving but we’ll be back at our desks ready to roll on Monday.
May the hinge of our friendship never grow rusty!
