so S and I discussed and decided to buy the assets of the company, rename and restart the operation right before the planes hit the twin towers and economy sank into hibernation. i say this in not a woe is me manner but in a manner of pride. the company we bought and distanced ourselves from became ours and we developed its structure and reputation in the fashion we decided represented us personally and professionally. though long-winded, we named the company after both of our last names so people knew the actual name behind the buildings.
the year before we bought out our partner, we built $5 million dollars worth of pretty things that people live in. the year after the planes hit we built $ 250,000 worth. the economy took a hit and we took a hit with it. ‘pay the boys before you pay yourself’ was the motto. make sure your subcontractors understand that payment for their work may be later than usually but it will come as soon as possible before they agree to do the work. it sucked, but didn’t deter us or make us ‘mad’, that came much later.
hopefully without sounding too full of pride i can say that we really focused on our reputation and succeeded in proudly stating that we have not to this date had a bad reference. we have treated our clients well and have put enormous amount of pride into every project we have constructed.
though undoubtedly helped by the free money policies of herr Greenspan and his minions, our company slowly built up over the fist three years and grew in reputation and size to a point that we were turning down as much custom home building as we were building as the free money boom started in full swing. we paid off the bank-note representing the asset purchase of the former entity and felt as if those years of full on shit were worth it.
in an effort to put things in perspective i will throw out some details about the company we built. we are purposely and luckily located in one of the most beautiful areas of the rocky mountain west, including what many would call two of your most idyllic mountain ski towns, plenty of fishable rivers, and of late numerous golf courses. i personally believe it is the most appealing places in the lower forty-eight, but that is my opinion. we employ between twenty-five and thirty craftsmen and provide local subcontractors and suppliers with about $2 million worth of work for themselves annually. we have built about $25 million in pretty things people live in since our inception. i will not deny that i am proud of what we have created and built, no matter how things go from this point on.
during the free money boom we did not fall prey to the ‘will give you whatever you want, just build a bunch of houses on spec’ banking mentality. we did purchase some industrial land and build a nice shop and office space to manage our company from, nothing fancy but definitely suitable for our needs. we invested in equipment and necessities to run a quality construction company. our bank would say we grew in a healthy manner.
our most important, and at times most difficult challenge was keeping quality employees, which is why we have always treated quality people in a quality manner. even during the post dot-com era of pain we provided our people with health insurance. not an easy task than and getting more difficult by the quarter now.