Thursday, December 21, 2017

You never go broke making a profit

Today's crumb was shared by a reader in Indiana. More than 400 needy people enjoyed fun and free food at an annual holiday party in Burlington, Vermont this month. The party has been thrown every December for 37 years by Anthony Pomerleau, 100, who pays the entire tab. Over the decades, his parties have fed at least 40,000 under-privileged children. This year's party cost $13,000, but Pomerleau doesn't mind because he "was brought up the hard way" and wants to help the less fortunate.

Pomerleau spent his first century building one of the largest fortunes in Vermont history, mostly through small-scale real estate developments. His son, Ernie, is now president of Pomerleau Real Estate. His dad calls him "an outstanding guy." Ernie jokes that when most dads were giving their sons footballs or basketballs, his dad gave him a briefcase. Pomerleau won't say how much money he's donated to good causes, but his name is on the police station, the YMCA and the Boys and Girls Club, where he has entirely funded the Early Promise Education Program offering college scholarship to area children. He pledged $1 million to the program. And over the years, he's collected a few mottos to guide him in business. These include, "You never go broke making a profit" and "Timing is the success of everything" and "Don't get too big too fast too soon" and"Never skin a bear until you shoot him."

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