The View From Here

Red Volkswagen Bug

Chances are you’re not familiar with the brothers, Tom and James Monaghan, but I’d bet you’re familiar with the company they founded in 1960: Domino’s Pizza. To make a long story short, they bought DomiNick’s, a pizza shop in the southeast Michigan town of Ypsilanti, for $500 down and a $900 loan. James was working a day job at the post office at the time and Tom had dropped out of the University of Michigan for lack of funds. The plan was for the brothers to split evenings working at the shop and share the profits 50/50. After eight months, circumstances were such that James asked his brother to buy out his half of the business by giving him full ownership of their pizza delivery vehicle, a 1959 Volkswagen Bug. Both brothers were satisfied with the exchange of the VW for James’ half of the business.

Fast forward to 1999, when Tom sold nearly all his ownership shares in the company (including the half he had received through the trade with his brother) for $1 billion! Although not much is mentioned anywhere about the brothers’ relationship after they parted ways, I think we can assume that James had some regrets to go along with his very overvalued used car.

It’s important to evaluate our position periodically when it comes to family, career, dreams, legacy, and so much more. It can be tempting to avoid revisiting a decision we made in the past that sounded like a good deal at the time. When we’ve accomplished milestones like a new career, starting a family, or retirement, for example, we may still be relying on decisions we made years or even decades ago. Although those plans may have been a good fit when created, they may no longer be serving us well. Continually examining our goals and both providing and seeking guidance from those close to us, we can ensure a legacy that passes the things and ideas we hold most important to the people and organizations that we hold most dear. If the caring work of the dedicated Associates of HaysMed has made an impact on your life or the lives of your family, we would love to hear more about it and explore ways you can create a lasting legacy through the HaysMed Foundation.

The View From Here is a regular feature of the HaysMed Foundation Newsletter from our Executive Director, Jeff Brull.