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The Thing That Can Bring A Rich Person Down.
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[QUOTE="Mika, post: 229231, member: 29399"] There is an interesting story in our home country about how a millionaire died a homeless man. About 150 years ago, a political heavyweight had 17 sons and each of the sons received 170 million in local currency (about 1.42 million USD), however, one of the sons died a homeless man, he lost his entire property and money. If you don't believe in this story, I will share more recent news. During the peak, Enron was a 70 billion dollar company, each share traded for $90. In 2002 Fortune magazine ranked Enron as America's fifth-largest company but it took just 4 years for the company to collapse and file for bankruptcy. There is another biggest business failure. Blockbuster was once the world's biggest movie-rental company with 9000 stores worldwide and generating $6 billion annual revenue. That was in 2004. However, just 6 years later in 2010, the company filed for bankruptcy. There are reasons why these individuals and businesses became zero from heroes. In our first example, the man failed to understand the true value of saving money and limiting expenses. In the second example, Enron failed because of bad business policy and strategies, and also fraudulent activities. Blockbuster failed because it did not adapt to new changes. [/QUOTE]
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