Chapter 9. Moving the Fleet

Now let’s look at our second group: those people who scaled up dramatically and put large sums of money to work transforming urban and suburban landscapes. They built companies whose existence is tied to more than the success or failure of an individual project. They developed large organizations that, like a fleet of ships, were dependent upon their admiral’s ability to navigate amid the shoals. But the bigger the fleet, the more difficult it is to adjust its course and to be flexible in a changing world.

The Shahs: A Small Company Goes Public

The decision of the hotel/motel-building Shah family to establish a REIT (Real Estate Investment Trust) appeared to be a logical one. They were now moving their business in a different ...

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