Blake Nordstrom, an heir to the Nordstrom Inc. fortune who ran the department-store chain with his two brothers, died Wednesday morning, less than a month after he revealed to employees and other that he had been diagnosed with cancer.
Mr. Nordstrom, 58, was co-president of Nordstrom, a title he shared with his brothers Erik and Peter. His brothers will continue to lead the company, which is publicly traded but still run and controlled by the Nordstrom family.
By all accounts, Mr. Nordstrom was a nice man who did his job the way his father did. Despite the good luck of being born into a great family, lymphoma can affect the best and worst among us.
If you are reading this, congratulations. Why? Because you have the good fortune to have another day to make the most of the time you have on this ball of mud we call earth. As we say often: "For some, if not for bad luck, none would be had at all."
The Nordstrom family turned a single store in Seattle into a company with stores across the nation. The market capitalization is approximately $8 billion.
How much is the price of physical wealth?
On a related note, the former CEO of Red Robin, Michael Snyder, committed suicide on Sunday, December 2nd. Mr. Snyder left the helm of the Colorado-based casual-dining chain in 2005 after being forced to repay $1.25 million in unauthorized perks, including misuse of the corporate jet. Mr. Snyder opened the first Red Robin franchise in 1979, expanding to 14 restaurants that he ran with his brothers, Steve and Brad. He had been the company’s largest individual shareholder as of 2007. Mr. Snyder is one of a growing list of people who are ending their life at their own hands.
From 1999 through 2017, the age-adjusted suicide rate increased 33% from 10.5 to 14.0 per 100,000. 47,173 Americans died by suicide our of 1,300,000 attempts in 2017. Despite the growing problem, more attention is paid to the number of children who are killed during a school shooting. 438 children or adults were shot, and 138 died on school campuses from 2012 to 2014. During this same time period, 99,419 people died in car accidents. In 2014, there were 12,333 deaths (due to any cause) of people with diagnosed HIV infection ever classified as AIDS, and 6,721 deaths were attributed directly to HIV. of 14,000 unaccompanied children who have entered the United States this year, Felipe Gomez Alonzo, from Guatemala, is the second child to die in recent months while in protective custody. The pubic outcry has been substantial.
Political correctness should never take precedence over facts and figures. Investing on emotions is dangerous and a violation of one's fiduciary duty. As a true fiduciary-based investment advisor, we consider the qualitative and acknowledge the importance of lobbying and squeeky-wheel attention, but we focus on the quantitative. 1 + 1 = 2, always has, and always will.