You are currently browsing the category archive for the 'The Weekend' category.
Last month, with little time to spare, the Senate reconfirmed Ben Bernanke as Chairman of the U.S. Federal Reserve. His term was set to expire just two days later. Senators where looking for a place to lay blame for our country’s current financial dilemma. Bernanke took much of their heat, even though they really wanted to point a finger at former chair Alan Greenspan.
Many argue Greenspan, who in his last four years as Fed Chairman kept rates too low and regulation too tight, led us to a housing bubble that is causing our worst financial crisis since the Depression. But Bernanke has said regulatory problems in the mortgage markets were to blame, not the Fed’s monetary policy. All this got me thinking about the bit of personal insight I have on Greenspan’s leadership.
In 2000, I was invited to a Washington D.C. dinner attended by Mr. Greenspan and hosted by Congressman Spencer Bachus. Over the course of that meal, I learned that Greenspan is a diverse man. I’ve talked before about becoming a better business leader by indulging your passion, and it seems his is two pronged: music and data.
Although his life’s work has been centered on economics, Greenspan graduated from Juilliard in his early 20s and traveled as a professional saxophonist in a jazz band prior to earning degrees in commerce and economics. He still plays the sax occasionally, in addition to the clarinet and the piano.
As for the data side of his passion, he has long studied New York Yankees statistics. Even as a boy, he could tell you the batting average of every player. This folded logically into his career. Greenspan told me that his business life could be easily described as studying data and trying to figure out how the world works.
In an MSNBC article he said, “I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.” Now, I imagine he’s studying data and taking his time to put this crisis into some kind of fact-based, statistical perspective—solving the mystery, so to speak.
After meeting him, I don’t believe he ever allowed the seemingly endless, often excessive praise he got in the old pre-crisis days go to his head. His data-based disciplines kept him steady as reflected in this quote about his time as Fed Chairman: “I was praised for things I didn’t do and now I’m blamed for things I didn’t do.” Powerful words.
My takeaways:
- Don’t be a one-note song. Explore all your interests, both in your career and outside it.
- Find a way to relate your passion to your career. Greenspan made his life’s work from his love for interpreting data.
- Much like Greenspan’s approach to capitalism, laissez-faire leadership is often the best.
- Make glory personal, not something others ascribe to you. If your work is grounded in data, you can stand by your decision, no matter which way the wind is blowing.
_____________________________________________________________
Merrill Stewart is Founder and President of the Stewart Perry Company, a commercial building contractor based in Birmingham, Ala. Contact him via email.
There’s no better way to bring friends, family or client relationships together than by savoring a good meal in each other’s company. That’s made my interest in the culinary world more personal.
An opportunity to explore the field presented itself last Friday afternoon. I was traveling back from one of our Pennsylvania projects and found myself within a short drive of The Culinary Institute of America in Hyde Park, NY. (Many call it the CIA, but I find that’s easy to confuse with the Washington agency.)
The Institute is truly amazing. Founded in 1946, it began as a small cooking school for returning WWII veterans. It has now grown to a beautiful main campus overlooking the Hudson River and two additional campuses in Austin, Texas and the Napa Valley. Approximately 2,800 students from every state in the union and several foreign countries are attending our most respected college for chefs.
This place has earned its respected status. The Institute is supported by the likes of Marriott and Hilton. An on campus hall of fame includes Julia Child, James Beard and many other noteworthy American leaders in the field. I’m convinced the CIA put our country on the map as a world leader in culinary arts. Here’s how:
There are five 100 percent student-run restaurants on campus. The chefs, waiters and staff at American Bounty, Apple Pie Bakery, Escoffer (serving unbelievable French food, I am told), Ristorane Caterina de’Medici and the St. Andrews Café are all enrolled in the school, making for well-rounded graduates. Outside of the restaurants the public sees, there are about 40 professional kitchens and bakeshops along with computer labs, extensive culinary libraries and dormitories on campus. The result is the optimal learning environment for our future culinary artists.
What’s more, the CIA offers extensive educational short courses (2-4 days) for those of us non-professional cooks. It sounds like a great weekend getaway—the best way to enjoy the beautiful scenery overlooking the Hudson. I can’t wait to get back.
Since I know many travel to New York City for business on a regular basis, I couldn’t resist sharing the treasure I found in the CIA. Hyde Park is an hour or so north of the city, so it’s an easy side trip that I highly recommend. You can support the next generation of American all-star chefs and walk away with food for thought.
________________________________________________
Merrill Stewart is Founder and President of the Stewart Perry Company, a commercial building contractor based in Birmingham, Ala. Contact him via email.
I’ve often thought that most builders strive for one of two major goals—to make the most money possible or to build a legacy. I’m not sure about you, but as a business owner I’d like to think at least some of what we do will go beyond legacy status and have a lasting impact to help others. I was reminded of that aspiration on a business trip to New York last week.
When I travel for work and I have the time, I try to take side roads as opposed to the major thoroughfares. As I mentioned here, you can get the true flavor of a place and see so much more than the generic interstate view. When I left LaGuardia to head north for the real estate we own, it was one of those days I had a little extra time. I passed over the Whitestone Bridge and I decided that instead of turning north on I-95 (that infamous road from Maine to Miami), I would forge straight ahead on New York State’s Hutchinson Parkway, which becomes the Merritt Parkway when it crosses the Connecticut line.
My impromptu side road tour turned into a meaningful history lesson. The Hutchinson, or “Hutch” as it’s referred to, and the Merritt were part of America’s Work Projects Administration (WPA) days. When men and women could not find employment, the government created this much-needed program to put folks back to work. Jobs were not only in concrete, steel and roads, like the Hutch and the Merritt, but in the arts. We supported all kinds of writing, including songs and poetry. My personal favorite WPA supported art is photography. These images are available from the Library of Congress and we’ve bought several to hang around the office. They provide beautiful architectural references and a first hand look at our country rising above the Depression.
Beyond the infrastructure of the highway, WPA workers crafted a unique collection of bridges along The Hutch and The Merritt. I believe there are about 70 bridges on the Merritt and every one of them is unique. Each has a distinctive style and uses different combinations of concrete forms, stone and shape. This year marks the 75th anniversary of The Merritt—a project that created a 4-lane road that has served the Northeast for almost 8 decades. They also built a heritage of beauty intrinsic to the bridges that span the Hutch and the Merritt.
Looking back at a harsh economy that produced projects with such lasting function and form can’t help but remind me of the challenges we as business leaders, builders and Americans are facing today. It’s inspirational to remember that true legacies were built during our country’s darkest financial days. I’ve challenged myself to stop making excuses and live with legacy top of mind. What can I do now to leave a lasting impact or the future?
________________________________________________
Merrill Stewart is Founder and President of the Stewart Perry Company, a commercial building contractor based in Birmingham, Ala. Contact him via email.
Every December our team and their families come together for a long weekend. Last weekend was our 25th year to celebrate this tradition.
We started on Friday afternoon with a presentation on quality EIFS details, followed by the chairman of the USGBC visiting with us about their standards.
Saturday morning our branding consultant, Holland & Holland (not the gun company) made a presentation on what they are doing for Stewart Perry, spreading our electronic footprint across the Internet. It was an interesting presentation by a quality firm as well as a really good opportunity to get buy in from our whole team.
We hosted a cookout at our campus on Saturday for lunch, and then we all went to the other side of our lake and planted an additional 500 daffodils bulbs so that in the spring, the hillside will be awash in a blue, white and yellow.
Our weekend came to a conclusion on Saturday evening with dinner at my home. The highlight of the night each year is all of us singing Christmas carols together by the piano. My personal favorite is “Frosty the Snowman” which is all the more special the way we do it, complete with a rousing chorus of “thumpty-thump-thump.” What fun acting like a child again with plenty of laughs and good cheer.
A tough year is coming to a close but I’m glad to have experienced 2009. While we stressed a lot, we learned a lot, and in the end, we made it through.
I am grateful for the good people we have here. They work through all kinds of challenges and weather and for this, I am grateful. Good people make great companies.
________________________________________________
Merrill Stewart is Founder and President of the Stewart Perry Company, a commercial building contractor based in Birmingham, Ala. Contact him via email.
In previous posts, I’ve shared with you how important it is to me take time away from the office to clear your mind, opening it up to see new possibilities. You’ll be amazed at the clarity you find when you take a step back and focus on the bigger picture.
My annual visit to the Dakotas is no exception. Buffalo Gap, South Dakota is in the Black Hills, about 50 miles south of Rapid, and certainly qualifies as one of my favorite places on earth. I’ve been making the trip every October for the better part of two decades. Each year, I stay at Hartshorn’s Ranch, a sprawling 6-mile by 10-mile place that borders the Cheyenne River and is home to cattle ranchers who have been my longtime friends. The few days I spend there afford me a complete change of scenery and pace. I get in a little pheasant hunting and help them round up cattle.
We ride the rolling hills of the range with its many valleys, gorges and creek bottoms looking for the cows that have spread out since last May. I jokingly say that when I get through riding to the south end of the property I’m in Nebraska. I at least feel like I have traveled that far.
As I rode this week I got to thinking that the cattle business is much like our businesses during these times. We are all out there looking for prospects in the valleys, gorges and creek bottoms of the current economy. Business is rarely staring us in the face, but it’s still there to be gathered up. It’s slowly getting better. You just have to have a keen eye, perseverance and the ability to stay in the saddle for a long period.
I found all those things true on my trip. By the end, I was tired and could hardly get off the horse, but I was able to count it another successful year. We gathered 246 head from the range, then drove them to a corner where two barbed wired fences meet. From there, we drove them back several miles, across the Cheyenne River and on to the ranch.
Even with all that careful attention, there are still two pairs unaccounted for. Once the weather turns cold, the last ones will make it to the corner and figure out it’s time to come back to the ranch. I encourage you to work hard, then watch as your business comes ambling back in. It will be well worth the time in the saddle.
Check out more of my experience at Hartshorn’s Ranch on my flickr photostream.
___________________________________________________________________________
Merrill Stewart is Founder and President of the Stewart Perry Company, a commercial building contractor based in Birmingham, Ala. Contact him via email.
As business leaders, we often get so immersed in our vocation that we forget all about our avocation.
I was reminded of this a few years ago when I took a trip to New England. I was driving through Freeport, Maine and happened to see a sign for the Thos. Moser shop in town. The name stood out from a conversation I had years earlier. I heard that as a college professor Tom had a love for teaching English, but his passion was design and furniture making. He left his established career to pursue his passion and started a business with little more than that. The story of his courage and his wife Mary’s support has always stayed with me, so when chance gave me the opportunity to explore his shop I took it.
Steve Wyman, who manages of the store (but in reality does much more), greeted me and thus began my education of the Thos. Moser company. Over the next several months, we stayed in touch and I ended up purchasing one of The New Gloucester Rockers for our conference room. The rocker was actually designed about 30 years ago and been a popular choice for consumers over the years. It was named for the town where the first Thos. Moser shop was located. Steve also took the time to tell me about the Customer in Residence program, which remained an aspiration for me.
I’ve always enjoyed woodworking, but have not had the time to do it. I should say I have not made the time to do it. Last month I did it. I spent a week in Auburn, making two New Gloucester Rocking Chairs. My son could have the one I purchased, but I really felt my daughters needed a rocking chair that their father had made for them.
I had a wonderful week staying in The Harraseeket Inn, a beautiful old inn in Freeport. I filled each day crafting my rocking chairs and my nights nursing the splinters and calluses I was getting from the work. I loved it. One night Mary and Tom Moser invited me to dine and spend some time at their Maine coast home. The quality of the products created at Thos. Moser is only surpassed by the caliber of the folks who have helped produce furniture for almost four decades now. All of them are genuine, hard-working people with an eye toward excellence.
I’d like to thank my new friends at Thos. Moser for a wonderful week for helping me create something special for my two daughters. While the time away from the office seemed impossible to schedule, I’m glad I made it a priority to explore an old hobby I’d shelved. Stimulating that part of my brain and taking a little down time brought me back to the office with fresh energy. I hope you’ll make your passion a priority too.
Check out more of my experience with Thos. Moser on my flickr photostream.
___________________________________________________________________________
Merrill Stewart is Founder and President of the Stewart Perry Company, a commercial building contractor based in Birmingham, Ala. Contact him via email.
When my work requires travel, I reward myself by staying somewhere listed in the Historic Hotels of America directory, which is closely affiliated with The National Trust for Historic Preservation. The HHA is an association of hotels and inns scattered across the United States, usually in urban areas, which were usually built in the beginning of the last century and typically have been restored. These places are often reminders of historical events, and in some cases the trail has not been a pretty one.
I recently traveled to New England with a friend. On Saturday afternoon I found myself at Nor’East, a firm in the business of recycling historic architectural pieces for reuse. They’re located in New Hampshire, just across the Massachusetts border. As I was leaving, I asked the owner where we might stay for the evening since I couldn’t head to my ultimate destination of Hyannis Port until the next morning. He said, “Saturday evening on the coast of Massachusetts during the ‘in’ season…that’s a hard one.” In the end he gave me several suggestions, and we decided on the Hawthorne Hotel in Salem, MA. This interesting hotel is located in the downtown area, was constructed in 1925 and has been beautifully restored.
The next morning I found a placard in the lobby that said “THIS PLACE MATTERS” I got to thinking and realized it’s up to us to make sure our favorite landmarks gets their due. Please consider supporting one of these charming places and the rich history they contain the next time you travel.
___________________________________________________________________________
Merrill Stewart is Founder and President of the Stewart Perry Company, a commercial building contractor based in Birmingham, Ala. Contact him via email.
Being prepared is something that I can never get too much of. In business this means always looking around the corner to find the next job or being careful not to spend foolishly, and at home it means having that rainy day fund for when the unexpected happens.
I’ve been involved with the Boy Scouts for years, and every spring the members of BSA Troop 28 in Birmingham take a trip down to Five Star hunting plantation in Alexander City, Alabama where they train for their wilderness survival merit badge. We hike to a lakeside camping spot and our scouts are tasked with providing themselves shelter and nourishment for the weekend using nothing but what they find around them or fishing from the lake.
The scouts are not allowed to bring tents, and instead each scout is given a small assortment of materials and tools. After a bit of confusion, task delegating, and gathering supplies, they start to work making individual shelters out of pine straw, tree limbs, and the occasional fallen trunk. The designs are sometimes less than successful–you often wonder how they envisioned such a construction–but if anything they are unique. After everyone has built a shelter, a demonstration is made on possible ways to improve each one. The idea is to be prepared if one day you are caught out in the woods by yourself in less forgiving circumstances.
The boys take to the lake for food, and spend all afternoon fishing for their dinner. To make it a little more difficult, they are only allowed to take out fish smaller than 2 pounds and the rest have to be put back. At the end of the day they learn how to clean and fillet them, and cook them over an open fire.
The second night each of the boys is given a steak and they learn how to cook meat “Tarzan style”(thrown directly on the coals). They also learn how to cook potatoes and onions buried underneath the fire and bake pies and biscuits between hot rocks.
It is an experience unlike any other: sleeping in pine straw den under a lean-to of tree branches, and catching and eating your own dinner. It’s a taste of self-reliance for these young boys that teaches confidence and vital survival skills. It’s also an annual reminder for me about the importance of teamwork, innovation and being prepared for the unexpected.
What can you do to be forward thinking and train your business for it’s next big challenge? Cut back on spending? Find new ways to connect with your employees? Whatever it is, hold up three fingers for a Boy Scout oath and pledge to be prepared.
___________________________________________________________________________
Merrill Stewart is Founder and President of the Stewart Perry Company, a commercial building contractor based in Birmingham, Ala. Contact him via email.
When supporting conservation in the developing world, many people prefer to make handouts or writing checks to their favorite organization of merit. While there is a place for this type of giving, I also like to travel to places in need, find small businesses that are doing the right thing environmentally and support these shops with my own business. By patronizing small businesses in developing nations, you are encouraging development itself, and you get to see exactly where the money is going.
Over the last few years we have been fortunate enough to go to Central and South America in search of the big fish. One trip that sticks in my mind was a blue marlin fishing trip off the coast of Caracas, Venezuela. We were fishing in 4,500 feet of water and caught 12 trophy-sized blue marlin over the course of three days. All were tagged and released.
On another trip, my son Merrill III was backpacking from Peru to Texas and stopped in Costa Rica to go sail fishing in the pacific for two days. In one day he and a friend caught 8 sailfish, again, all tagged and released.
These were both wonderful experiences, however it brought to mind how fortunate Americans are to have amenities, services and securities that many people in other parts of the world can’t access. Supporting these fishing outfits by tagging and releasing fish is one way to encourage wildlife and nature preservation in a developing economy. It creates an economic incentive to keep the fishery healthy and discourages over fishing by local fisherman. The next time you get ready to give an easy “hand out,” I encourage you to find a way to give a “hand up.” You might just have fun in the process.
___________________________________________________________________________
Merrill Stewart is Founder and President of the Stewart Perry Company, a commercial building contractor based in Birmingham, Ala. Contact him via email.
When I think of my contacts, I tend to think of people within my industry or those having something to do with construction. However, I’ve met some of my best connections through work. These are often the most enriching encounters and lead to the most one-of-a-kind experiences for my clients and me. When you meet someone out of your line of work at the next party or convention or gathering, I challenge you to stay interested in their story and what they do. Treat them as if they had the world to offer, because you never know where the next good friend could take you.
Twenty-two years ago we built a project on the “west bank” of the Missouri river in South Dakota, and in the process of our work we met a fifth generation South Dakotan rancher. His ranch is located in the foothills of the Black Hills adjacent the Cheyenne River. What began as a casual acquaintance grew into a true friendship, and he invited us back the next fall to go pheasant hunting. Since then we have gone every fall to hunt on his ranch. After we’ve found our share of pheasants, we spend several days riding horses, rounding up his cattle and driving them back to the ranch before winter.
His land is a perfect example of South Dakota country, with rolling grass-covered hills that stretch out in every direction and far off blue mesas on the horizon. The vastness gives you a true appreciation for distance and space, with views 20 miles in every direction—no trees or buildings to stand in your way. When you look up at night you can see a sky so full of stars even the most familiar constellations seem lost.
It’s a true privilege to experience this beauty every year, and it leaves lasting memories. It’s also a perfect example of how this rancher and his home have enriched my own life and the lives the people I bring with me to hunt every year. Through his hospitality, I’ve been able to bring multiple clients along for the experience. It’s a win-win situation. I get to share a special place with valued business associates and create relationships outside the boardroom, all while spending time with a dear friend.
_________________________________________________________________________
