The Family Values Behind the Business of Hardcore Pawn

Les Gold never imagined that life would change so drastically at 59 years old. He's the author of a New York Times bestseller "For What It's Worth," and television star of an international hit show, "Hardcore Pawn." He runs a family business, American Jewelry and Loan, with his two children, Seth Gold and Ashley Broad (Gold). The Gold family are the stars of the reality series, and are changing the way viewers think about the pawn industry.

The pawn business is multi-generational.

This Third-Generation Family Business Thrives on Service

Greg and Joshua Owen, a father and son team, lead their third generation family business, Tri-Modal Distribution Services. The company is based in Southern California and provides global logistics. warehousing and distribution services to retail shippers. Greg, the dad, is the head coach and sets the vision, while his son, Joshua, oversees the day-to-day affairs of the company.
Bill Owen, Greg's dad, started City Transfer, Inc. in 1947, later City Freight Lines, which he sold to his employees in 1984. Bill started with one truck servicing the Port of Long Beach. He picked up luggage from families returning from vacations and transported it to their houses. Greg remembers sitting in his dad's truck when he was 3 years old. He became president at age 27, making him one of the youngest owners of a major trucking company. He left in 1982 to start Tri-Modal.

I met Greg at the Rotary International District 5400 Conference, where he was a special representative to Rotary International's president. He has an extensive history of service with the organization, and uses his family business to help improve the lives of others around the world. Here are some key lessons from Greg, a coach/dad, running a business with his son.
Related:

A coach may be better.

Aging in Idaho: Help for Those Living with Pain

Senior adults facing a terminal illness often endure pain, shortness of breath and nausea. Watching a loved one experience these symptoms hurts.

The Palliative Care Program at St. Luke’s Magic Valley is designed to meet the physical (ex: pain management), emotional and spiritual needs of patients and their families when dealing with a life-limiting illness. Dr. Daniel Preucil is the Medical Director of the Program. In-patient services began on March 16th, and out-patient services will begin in the next few months.

Aging in Idaho: Who You Really Are

The quest for discovering who you are is often left to those who need to make decisions about marriage, family or career. The assumption is that once you overcome an “inevitable” mid-life crisis, you find yourself. I’m not quite sure what the cut off age is in most people’s minds. Do you magically know who you are at age 50? Does the search for “self” stop once you start collecting social security benefits or retire?

Aging in Idaho: Life Lessons for Graduates

In his book, “30 Lessons for Living: Tried and True Advice from the Wisest Americans,” Dr. Karl Pillemer compiled advice from more than 1,500 senior citizens on work and relationships. With all the recent graduations, this might be a good time to discuss life lessons with your loved ones. Whether the young people in your life are starting a new job, moving abroad, launching a business or going to college, the following lessons from Dr. Pillemer’s book are worth reviewing.

This Boutique Father-Son Investment Firm Thrives By Ignoring Conventional Wisdom

Martin "Marty'' Sass and Ari Sass are a father-son team of an investment management firm in Manhattan. Marty started M.D. Sass in his basement apartment over 40 years ago, and now Marty and affiliates employ more than 80 people and manage $7.5 billion for Fortune 500 companies and wealthy individuals. Marty takes an unconventional approach to investing, pursuing targeted opportunities versus broad diversification of assets. Here are some insights that Marty and Ari shared about their success:

Being a contrarian pays off.

How do you go from zero clients 43 years ago to an investment firm that garners top-tier investment performance? Be yourself, even if it means being a contrarian.

Marty referred to "the herd instinct" that many investment managers follow, which is to invest in index funds, exchange traded funds and government bonds. He believes these investments are the wrong direction if you want to achieve superior results, but that that many investment management companies are satisfied with producing mediocre results. Marty believes that his forensic research experience of companies is what sets him apart.
"I have learned over all these years that focusing on companies that you really know well with strong management, buying them at a significant discount from their intrinsic value, and focusing on only a few companies that meet that stringent criteria, is actually safer and produces superior returns with less risk,'' he said. "It's safer than wide diversification."

Marty did not build the business based on the conventional wisdom and has achieved results well above market benchmarks. It's his secret for going from a start-up with no money and no contacts on Wall Street, to achieving success. Ari is fully on board with his dad's approach to being a contrarian in this industry.
Read more about this family business

Aging in Idaho: Seniors Are Heroes in Intergenerational Communities

Marginalizing senior citizens seems to be the norm, but it’s the antithesis of the way I grew up. In Liberia, communities are often led by elders. Many immigrants and Americans whose parents and grandparents grew up in different countries share a similar experience. Around the world, becoming an elder elevates your status in community, not the other way around. It’s great to see the various socioeconomic models in this country that are trying to give senior adults opportunities to become positive solutions for pressing social problems. An intergenerational community is one of them.