| If we had published this month’s column before July 4th, we could’ve written about independence. Now, it’s too late. |
| July 4th may be celebrated with barbeques, parades, and fireworks, but I doubt many people stop and think about what our country’s independence means to each of us. |
| I hate to break the news to you, but it’s summer. Kids are out of school, people go on vacation, and July 4th is a holiday. Not a solemn occasion. |
| My point exactly. People forget its significance. |
| I agree, but you’ve never been one to walk around waving the American flag. |
| True, but there are other ways to demonstrate your patriotism. |
| That’s a word you don’t hear very often. I wonder why. |
| Part of me wants to say it is because it sounds old-fashioned. But, then I think about how “patriot” can have very different connotations in today’s political arena. |
| PLEASE … no politics. In fact, there are days I wish I had a sweatshirt that said that. |
| That is funny. And, there needs to be another one with “WARNING: I talk politics.” |
| Well, add those to the long list of T-shirt ideas we have. |
| Will do. Which reminds me, I need to send you the recent New York Times article about how “American Made” T-shirts are having their best year yet. Apparently, people are willing to pay considerably more for an American made T-shirt. And, ones from American Giant that had “American Made” printed on the front, and sold for $60, sold out the first day. |
| Really? I remember the first time I thought about the concept of “Made in the U.S.A.” It was when you decided to print our book in the U.S.A. Before that, it never dawned on me to check labels. |
| I guess you do not remember that advertising jingle from the late 1970s, “Look For the Union Label,” that touted buying clothing made in America. |
| Nope. But I’ll never forget you were willing to print our self-published book here even though it doubled the cost. And although I still laugh when you say, “Printed in the U.S.A. is the most expensive sentence you’ll ever publish,” to this day, your decision still amazes me. |
| It amazes me that it ultimately became part of a lesson plan for high school students. For me, it was just a business decision. There was no way I was going to send my money to China. |
| I thought it was a very expensive decision, but I figured you knew what you were doing. Plus, it was your money. |
| Since you own almost half of the company, it was your money, too. |
| I don’t see it that way. I’m only contributing sweat equity, whereas you’re paying for everything. |
| But, that does not change the ownership percentages. Or, the fact that not everything of value can be calculated in terms of dollars, contrary to what accountants may think. |
| That may be true, but us “mere mortals” make most purchasing decisions based on cost alone. |
| Which is why our printing decision makes such a great example. If you just crunch the numbers, it is a no-brainer. Print in China. But, sometimes, you have to factor in non-financial considerations … like your values and priorities. |
| I understand that now, although, at the time, I thought you were crazy. Especially when you made R.R. Donnelley (RRD) defend their pricing. |
| I wanted to understand why it cost so much more to print here. As expected, part of it was related to labor costs (we have minimum wage and child labor laws) and regulations controlling workplace health and safety standards. Plus, there were already significant environmental laws. |
| And until we printed our book, I never even knew about any of those things. But now I realize how important they are. |
| Important … and expensive. There is a price, often hidden, for maintaining high standards. Someone has to pay for it. |
| Good thing you could afford it. |
| Agree, but even if I were on a strict budget, I would have found a way to print in the U.S.A. I could have downgraded the paper, used a single-color press instead of a two-color one, or printed using a less expensive process. In fact, part of my logic for printing 25,000 copies was to get the cost per book down. |
| I wish you hadn’t reminded me of that. I try not to think about how many copies we still have left. Having said that, for a self-published book, where we’ve spent more time on philanthropic pursuits in the education and criminal justice worlds vs. marketing, having sold more than 14,000 copies is pretty impressive. |
| I guess that makes us a “bestseller” since 90% of self-published books sell less than 100 copies. But, the point I am making is that it is important to me that we support U.S. businesses. |
| Says the woman with Hermes handbags from France and European cars. |
| Does it make you feel any better that when it came time to replace my washer and dryer, I bought American made? Just because I may not always buy American does not mean I do not make a conscious effort to do so whenever I can. |
| Well, from now on, I’ll try to be better about it. The key will be remembering to stop and think about it. |
| Maybe we need to do a T-shirt that instead of declaring it was “Made in the U.S.A.” turns it into a question … Made in the U.S.A.? |
| Make it a long-sleeve shirt or a sweatshirt, and I’ll take two! |
Want to read other columns? Here's a list.
Every time we see the photo above of our "guinea pigs", it brings back such fond memories. You may be thinking, "What? Are they calling those students guinea pigs?!" Well, actually, yes. And before you think ill of us, please know that we use the term with great affection, deep gratitude, and utmost respect. And these eight amazing seniors from the Class of 2010 know that's our nickname for them because ...
We started calling them our "Guinea Pigs" as soon as they volunteered to help us develop our Red & Black Personal Finance and Life 101 program at KIPP Houston High School. It was important that they knew this was truly an “experiment”, as neither one of us was a teacher or a financial expert.
It all started at our first speaking engagement, when during Q&A a woman asked why the topics in our book weren’t taught in school. The next thing we knew, we were sitting in the office of Bryan Contreras, Director of KIPP Through College, and being asked not only to develop, but also to teach, a semester-long personal finance and Life 101 course to their high school seniors. During their spring semester. (Yes, the months right before they graduate.) While Red looked like a deer in headlights (we barely considered ourselves authors, let alone teachers), Black responded as she often does, with a simple:
Sure, not a problem.
While Red went home to carpool and baking cookies, Black did what she does best — use her corporate and business experience to tackle the challenge. So, she requested a "task force" of seniors to help us develop the curriculum because, as she put it:
If it is not relevant, why bother? And, who knows best what is relevant to high school seniors? High school seniors.
Black introduced them to the business concept of a working lunch (which might also be considered a pizza bribe), and we met for five Fridays. We gave them a list of select book excerpts they were expected to read each week so we could discuss what they thought should be included in the curriculum. That first week, they seemed motivated to help — but we weren't sure what to expect.
They came back excited and totally committed, with two of them having read the entire book and the rest having read much more than the assigned excerpts. Luckily, Red had been a straight-A, copious note-taking student. However, she could barely keep up with their comments and feedback, let alone the side discussions generated by the conversations in our book. You could see their interest in personal finance (and many other Life 101 topics) was strong and genuine, and they explained that learning from the mistakes of others was extremely powerful. One student, after prefacing his comment with apologies, stated:
When I grow up, I don't want to be Red.
We'll always be indebted to our Guinea Pigs for their enthusiasm and suggestions, as using our book as the textbook was their idea, not ours. And through their feedback on the book and the lessons they were already learning from it, which began at those pizza lunches, the answer to how best to "teach" a Red & Black class was obvious to them. It was as simple as a book club. For us, it took a little longer to come to that realization as we were hampered by our own preconceived notions about how lessons are taught in a classroom. So, although the initial intent may have been for us to be the teachers and them to be the students... we learned from each other.
P.S. – For those of you interested in a more "educational" look at our detour into the world of education, including "feedback" (student quotes, Black's "non-scientific" surveys, and KIPP press releases) from our two spring semesters when we "taught" at KIPP Houston High School, please check out An Unexpected Education Detour ...
Red loves to stop and reminisce. Black prefers to look forward.
But even Black will admit that sometimes there’s value in looking back — it reminds us where we came from, the detours and roadblocks we have managed to navigate, and that we may be stronger and more capable than we give ourselves credit for. Sometimes, it’s a lesson learned. Sometimes, it’s a memory that reminds us what’s truly important.
But Black has one caveat (and it's one of her favorite car analogies) …
If you decide to look back, keep it in perspective. There's a reason why windshields are so much larger than rearview mirrors.
| The last few days have been beautiful fall weather, and I can't help but wonder — do you ever miss having your Ferrari convertible? |
| Although some days are perfect convertible weather, given that I barely drove it the last few years I owned it, averaging less than 50 miles a year, I can honestly say, "No." In fact, I cannot even remember the last time I drove it. |
| I can't help you with that, but I'll never forget the last day we taught at KIPP Houston High School, and you drove it there. You should have seen the students' faces as you were lowering the top on it. |
| Funny thing is, I never took the car to KIPP because I did not want anyone to think I was showing off, but I forgot how exciting it is for motorheads to see special cars — whether new or vintage. |
| I doubt everyone crowding around your car was a motorhead, but they certainly were excited to see it. Boys AND girls! At the risk of sounding warm and fuzzy, I think the fact you not only drove a Ferrari, but also raced them, gave the girls a feeling of empowerment that they really can do anything. |
| I guess because I always worked in male-dominated industries, I got used to being the "token" woman. Regardless, I never look at things as being gender-specific. |
| That's because you never look at anything like the rest of the world does, or at least most people do. A perfect example of that is you giving Juan a ride in the Ferrari. I doubt many people would have done that. |
| It seemed only fair since he tried to make a "deal" with me the day before — a hand of poker or even a flip of a coin. If he wins, he gets a ride in the Ferrari. If I win, he will be my slave for a day. Giving him a ride in the car was a reward for having the chutzpah to try to make a deal with me. And, in the two years we taught at KIPP, of the over 200 students who took our Personal Finance & Life 101 class, he was the only one ever to do that. |
| I'll never forget how you also told them that although it may not be the proper definition for the Yiddish word "chutzpah," the real-life definition is "having balls." |
| How else would you explain it? |
| You should know, as many people have used that word to describe you. And it was consistent with the lesson we taught them about how you "confronted" Bob Weinstein (of the movie-producing Weinstein Brothers) at a conference in New York. (Granted, it was well before the #MeToo scandal.) You realized you had nothing to lose, not to mention you were well prepared. |
| In most scenarios, if you do not ask for something, you will not receive it. So, what is the risk of asking? Someone may say "no"? The way I see it, you are no worse off than before you asked. So, in reality, there is no downside risk, but there IS upside potential. They may say "yes." |
| True. And I laughed, although I wasn't surprised when everyone else started asking for a ride in the Ferrari! |
| Except Juan did not just ask for a ride. He tried to negotiate a deal. He structured it so that there was an upside for me if he lost the bet, which obviously would be the downside for him. But, what impressed me the most was that he was proactive and took a chance, albeit a long shot, to get something he wanted. |
| And given the smile on his face when you drove off, it obviously paid off. I bet, even though it has been many years, it's something he's never forgotten. |
| The lesson or the ride in the Ferrari? |
| Both. And I will go out on a limb and say I bet many of the kids standing around the car when you told Juan to jump in, and then explained why, may also remember not only that day but the importance of the lesson. |
| Then, it was a perfect day for a convertible ride. |
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