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Great article in USA today about the largest luxury home builder in the nation Toll Brothers - and how the CEO Robert Toll has been forced to amend his strategy in light of the new market reality:

Robert Toll's father, Albert, was a multimillionaire investor by age 24, then lost it all in the 1929 stock market crash. To support his family through the Depression, Albert delivered laundry and sold used cars. Gradually, he rebuilt his fortune by buying discounted real estate bonds. By the end of World War II, he owned several office and retail buildings.

Robert, 67, who goes by Bob, remembers the hard-learned lessons his father taught him and his younger brother, Bruce. "Be careful, be wary," he recites. "You make a mistake, it could be your last."

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January 30, 2008 by Atlanta Luxury Homes For Sale (not verified)
Thanks for the article, Jim. It just goes to show you that even in the wrost times you can make it through if you plan ahead.
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January 30, 2008 by Tshombe (not verified)
Great article. Interesting word of caution, though, following the "Be careful" advice that a mistake could be your last from a man who made "mistakes" but did not let the setbacks do him in.
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