Latest / The Inspired Stories Podcast / Frank Fusaro: What a Brooklyn Kid, the Marine Corps, and 50 Years in Staffing Teaches You About Life
Transcript
- 0:04Welcome. To another edition of the
- 0:06Inspired Stories podcast, where leaders share their experiences
- 0:10so we can learn from their successes and be inspired by how
- 0:14they've overcome adversity. As you listen today, let one
- 0:17idea shape what you do next. My name is Anthony Kotis Bodi,
- 0:21and today's guest raised over $20 million in scholarships for
- 0:25children in need, built a smart home for a catastrophically
- 0:29wounded veteran, and received the title of commendatory from
- 0:34the President of Italy. None of that was part of the
- 0:37plan when he left the Marine Corps as a Sergeant and went to
- 0:40work at Price Waterhouse Coopers.
- 0:42As a young CPA, he took a leap that most people in his position
- 0:46would never have considered. And what happened next took 50
- 0:50years to fully unfold. And there were moments along the
- 0:53way that would have stopped most people cold.
- 0:56Meet Frank Fusaro, Co Founder and President of The Forum
- 0:59Group, A veteran owned staffing firm he launched in New York
- 1:03City in 1974. The firm now spans 10 practice
- 1:07areas, employs over 100 recruiters, and has placed
- 1:11talent across accounting, legal, IT, healthcare and beyond for
- 1:16over half a century. Frank has earned 3 awards from
- 1:19the New York State Society of Cpas, including the Lifetime
- 1:23Achievement Award. His story is proof that the
- 1:26discipline you build in one chapter of life has a way of
- 1:30funding every other chapter that follows.
- 1:33But before we get into that good stuff, today's episode is
- 1:35brought to you by my company, Add Back Benefits Agency.
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- 2:20All right, back to our guest today, the president of the
- 2:22Forum Group, Frank Fusaro. Thanks for making the time to
- 2:25Share your story today. Well.
- 2:27It's a pleasure. Thanks for having me, Anthony.
- 2:30So I want to go back real early. On the year that you were born,
- 2:35your father passed away. Tell us about that.
- 2:39Well, it's, it's not as as sad as you might think in the sense
- 2:44that I think if you lose a parent when you're 10 years old,
- 2:4712 years old, 15 years old, it's a lot worse.
- 2:51My dad passed when I was about four months old.
- 2:54We moved in with my grandmother in a very traditional situation
- 2:59I had, it was a, a multi family building.
- 3:02I had three uncles in the building.
- 3:03So I never wanted for parental guidance, but if anyone shaped
- 3:08my life, who was my hero, it was my mother here who raised us
- 3:16basically. I have a certificate here from
- 3:19Home Relief. This is dated January 11th,
- 3:241949. This is a grant to my brother
- 3:28and I of $21.00 each. Actually, I got a penny more
- 3:31because I was younger, but I always said I was worth more and
- 3:34she got about $30 was total about $75.00 a month.
- 3:38But I don't remember missing anything or wanting anything.
- 3:41When I was eight or nine years old, my my mother remarried
- 3:45Very. There's a doc boss on Pier 11 in
- 3:49Brooklyn, you know, one of the neighborhood guys and but the
- 3:53most ethical human being ever met.
- 3:55So he was also a tremendous influence on my life.
- 3:59And you know, I've been blessed so many times.
- 4:03My only wish in life now is I get start all over.
- 4:07And do it all over. Again, absolutely.
- 4:09It's been, it's been a, a, a joy.
- 4:13You know, it's unbelievable. I went to a Jesuit high school
- 4:19in Brooklyn, four trains and a 15 minute walk through Crown
- 4:24Heights. Just tough thing.
- 4:25It's a, you know, tough neighborhood.
- 4:27My brother was a senior when I was a freshman.
- 4:30He was class valedictorian, editor of the yearbook, captain
- 4:34of the baseball team and student council present here.
- 4:37I come along and I graduate at the bottom of my class.
- 4:43I know. And all I got for four years,
- 4:45and I love my brother dearly, was you'll lose brother.
- 4:49As a matter of fact, years later, I'll tell you a very
- 4:51quick story. Years later, Tom Tizzy was a
- 4:54good dear friend of mine. He was the vice chairman of AIG
- 4:57and he worked directly for Hank Greenberg, who I was my client
- 5:00and who I know him pretty well. And he asked me to join the
- 5:04board of the of Saint Vincent Services, which was formerly
- 5:08Saint Vincent's home for boys in my old neighborhood, Red Hook,
- 5:11Brooklyn, where my mom threatened to send me every day
- 5:14of my life. So we're the first board
- 5:17meeting, and the chairman of the board comes up to me at the end
- 5:21of the meeting after they introduced me, says Fusaro.
- 5:23Fusaro Aloof Fusaro. Brooklyn Prep.
- 5:26I said, yeah, that was my brother.
- 5:28He said you must have been a D student.
- 5:29I said I was, but how did you know?
- 5:31He said, well, obviously AB and C students wind up working for
- 5:34these students. So you did well.
- 5:37So that was, I tell that story a lot when I get this, my speeches
- 5:40around the, you know, around the country.
- 5:42And that was going to be my question.
- 5:43You know, I have a lot of guests on this show who were top of
- 5:46their class, went to elite universities.
- 5:49And I've got a number of folks who really struggled in school.
- 5:53You know, it just wasn't for them.
- 5:54Maybe there were some undiagnosed ADHD, which didn't
- 5:57really exist in the time, was a learning disability.
- 6:00It just what was your situation and why do you think that you
- 6:03rose to the the level that you have?
- 6:06Well, listen, the reason I did poorly in school, No, no ADD or
- 6:10whatever. I, I was, I took four trains to
- 6:13high school and if you're a minute late, you got detention.
- 6:17And I was they, I was taking four years of Latin, French,
- 6:21theology, etcetera, etcetera, and had basically very little
- 6:25interest in it. And it was a great school, but
- 6:28not for me. So that's what, you know, led to
- 6:32the next chapter of my life. Before we get to that next
- 6:36chapter, tell me a little bit more about your mother's
- 6:38personality and what you were able to learn from her.
- 6:41Growing up, you know, thinking back over the years, you know
- 6:47she was a rock. She always had a smile on her
- 6:50face. She was even tempered and even
- 6:52keeled and she was just an inspiration.
- 6:56And you know, whatever, when, when you lose a parent that
- 6:59young, it, it doesn't affect you as much, you know, because this
- 7:03is what I had. This is where I was and I always
- 7:07embraced the situation. And I had, as they say, I had
- 7:09three, three uncles and three families, cousins in the
- 7:12building and so on. So that was my life.
- 7:15And, you know, she made sure that we had everything we needed
- 7:20and we wanted for nothing. We had nothing but we wanted for
- 7:24nothing. So that was set the tone for my,
- 7:28you know, my. You had the most important
- 7:32thing. You had an abundance of family
- 7:33around you, love. Guidance.
- 7:35And so I had an uncle who was a butcher.
- 7:37We had meat. He would drop off some meat a
- 7:40couple of days a week. Otherwise it was pasta.
- 7:42And you know, pasta by Joel and you know the other.
- 7:45We had the fig tree in the back and my grandmother who didn't
- 7:49speak English. So but Italians are funny. 2nd
- 7:53generation Italians don't speak English because first generation
- 7:57speaks to their parents in Italian.
- 7:59But they were so hard bent to assimilate and become Americans.
- 8:04They wanted their children to become American.
- 8:06They want their children to speak English.
- 8:08And you know, I wouldn't trade that for the world.
- 8:11I can relate to many parts of your story there, Frank, but
- 8:14let's go back. So you were at Price Waterhouse,
- 8:17Cooper. You served in the Marine Corps
- 8:19and then in 1974 you Co founded the Forum group.
- 8:23Kind of quickly walk me through how those pieces fit together.
- 8:27Well, it started, Yeah. I graduated to high school again
- 8:31at the bottom of my class. It's at just turning 17.
- 8:35And I, I joined the Marine Corps and that was a real turning
- 8:37point in my life. Why?
- 8:41And when I excuse me, why was that a big turning point for
- 8:44you? Well, the Marine Corps has a way
- 8:45of giving you confidence. And that's what I lacked.
- 8:48You know, you go through school and you be at the bottom of the
- 8:51class, struggling, just getting by and so on and so forth.
- 8:54And you have a bright shining light ahead of you.
- 8:56My brother boy, again, I love dearly.
- 9:00You lack confidence. And what the Marine Corps did
- 9:02more, more than anything. And I had a very ordinary
- 9:05service. I joined at the beginning of
- 9:07the, in 1964, 1st Combat Troops in Vietnam.
- 9:13I had a very ordinary term with the Marine Corps.
- 9:16I never went to Vietnam. Most of the guys I, I went to
- 9:20the air when I was a crew chief in the helicopter squadron and
- 9:25most of my, my, my original, you know, platoon at Parris Island,
- 9:31They all went, you know, some came back, some didn't, but
- 9:35nobody came back the way they, you know, So I think of them a
- 9:42lot. Forgive me.
- 9:48No. So that shaped my life and and
- 9:52when I, when I went to St. John's and I did pretty well at
- 9:55St. John's and knocked off the CPA
- 9:57exam 123 went to Pricewaterhouse.
- 10:01And while at Pricewaterhouse I was, I was actually hired by a
- 10:07client of mine and it was a very difficult audit we were doing.
- 10:10I was very, very adversarial position with the company, with
- 10:14the my client because we were engaged by a, their parent
- 10:19company and the president of the my, my client had sold his
- 10:23company too. It was the old Seberg jukebox
- 10:26people in, in Chicago. They were the price would ask
- 10:29client who engaged us to work for a company Inland
- 10:32Dynatronics. So it was a very adversarial
- 10:34situation because his primary compensation of president in
- 10:38selling the company was growing the company.
- 10:41So every dollar was very, very material.
- 10:44So at any rate, you know, a year after a year or so in the audit,
- 10:49they, they asked me to join them and I was supposed to help the,
- 10:53be the system controller, but also help the national sales
- 10:57manager. Six months later the national
- 10:59sales manager leaves and I become national sales manager
- 11:03and, and I love the job And I, you know, we were selling car
- 11:07radios and stereos and so on. And I opened up the military.
- 11:14So we were selling our equipment all over the United States and
- 11:17all over the world actually, because the ship store's afloat.
- 11:20And so when I sold the Army and then the Navy and the Marine
- 11:25Corps, we sold the Air Force. I opened up a couple other major
- 11:30companies and started a, a program where we, I found a guy
- 11:33that could replicate the, the, the, the, those pieces of a of
- 11:39a, a radio and we could sell radios to new car dealers and
- 11:44they could install them and they would, you know, be the same as
- 11:47a, an original equipment thing. So that was very successful.
- 11:51So I didn't make I made a lot of money.
- 11:54So, but traveling 80% of the time problem with my, my wife,
- 11:59my dear wife of married 53 years, Carol.
- 12:02And you know, the travel was getting to me, but I could never
- 12:07replicate the job because I didn't have the experience to
- 12:10warrant that job. At any rate, to make a Long
- 12:13story short, I I had been with Pricewaterhouse with a pier of
- 12:18mine, Steve Goldstein and he and another fellow, Mark Gilbert
- 12:21wanted to start a business and they called me and they asked my
- 12:24advice and so on. And then eventually they asked
- 12:26me to, to join them. So the three of us started the
- 12:29firm and not having any experience in the staffing firm,
- 12:33I said I'll take, I'll take responsibility for the public
- 12:36accounting profession. And I immediately joined the New
- 12:39York State Society Cpas, got very active with them, got very
- 12:45active, went out and met with every client face to face.
- 12:51And as it turns out, you know, luck has a lot to do with it
- 12:55because there's no such thing as a self-made man.
- 12:59My clients were wonderful. And after about a year, I formed
- 13:04a, a group of, of human resource professionals at the, all of the
- 13:10Big 8 firms in those days and two of the national firms,
- 13:14Seidman and Grant Thornton. So I had 10 firms.
- 13:17And I said, listen, you guys, you know, you fight for entry
- 13:20level students as your employees and your companies fight for
- 13:25clients, but other than that, you have all common problems.
- 13:28So why don't we get together? And I put together this group
- 13:32and there were eleven of us at the top guys at the in the HR
- 13:35world of public accounting. And from that I've developed the
- 13:41most incredible relationships with the with the firms in those
- 13:46days. Turnover was a major problem
- 13:48with them and I started it says, OK guys give me all your entry
- 13:53level hirings male, female, graduate, undergraduate and and
- 13:59got reported back to them. This is the total number and so
- 14:02on. And this is your individual
- 14:03number. And every year I said again,
- 14:05give me your entry level class and who left from the prior
- 14:08years. And after about 12-15 years, I
- 14:11had to I could tell them how many people they lose to the to
- 14:14the head. It was so consistent.
- 14:17And the biggest problem was turnover.
- 14:19So I said, OK, if this turnover's the problem, let's,
- 14:23let's, let's look at that. And I, I started a, a study at
- 14:27the State Society of Turnover and Public Accounting did a, a
- 14:32survey, got the results of the survey and it basically what it
- 14:37said was the students, the, the, the employees, the young
- 14:41employees were relatively happy with a lot of the issues, but
- 14:46the, the benefit issue was big with them and compensation issue
- 14:50was bigger than them because any two year person could go to work
- 14:53at JP Morgan Chase and get a big raise.
- 14:56I said, but that's not in their best interest.
- 14:58And the problem with public accounting is they take a 2223
- 15:02year old person and said that the gold is, is partnership.
- 15:05But who's going to make partner? You know, you know, 2 out of
- 15:08100. So that's not an incentive I
- 15:10said, but the real incentive should be we make manager
- 15:14because public accounting has gives you great experience and
- 15:17leave at the manager level. And if you believe that, that
- 15:20you have to find a way to support it.
- 15:22And we found a way to support it both in terms of the, the job
- 15:27you got when you left it as a two year person versus the Jagab
- 15:31you got when as leaving as a six or seven-year person.
- 15:34And that thing became the genesis of a, a, a, a program.
- 15:39I did, I was, I was invited to call it the, the, the chicken
- 15:44and the, the, the hound in the, in the chicken coop.
- 15:48I would go in and I would have 101st and 2nd year people at
- 15:52Pricewaterhouse and Deloitte. And you know, all the firms who
- 15:55I love this thing. And I would tell them, look, and
- 15:58I told it to senior partners in the firm.
- 16:02I said, you give me 100 kids. There are 30 on the left that
- 16:05you can't keep no matter what. And there are 30 on the right
- 16:08that you can't lose. I saw I talked to the 60 in the
- 16:11middle or 20 on 20. I said, I talked to the ones in
- 16:15the middle, the ones that are out looking for a job and
- 16:17they're thinking about staying. And it was amazing.
- 16:20And then they used to send me people who quit and went in and
- 16:24quit and I would turn them around And they love that.
- 16:27And all their partners, you know, work with us and they
- 16:31would recommend us to their clients.
- 16:33And that was a great start for the firm.
- 16:36So I want to recap because we just covered a ton of ground
- 16:39there. I know, first of all, before we
- 16:41get too far, I want to thank you for your service and appreciate
- 16:44you talking about some of your friends that didn't come back,
- 16:48didn't come back the same way. I know you know that it it's
- 16:51clear that that that they're still with you in your heart.
- 16:55Also want to give credit to the Marines for building up your
- 16:57confidence, right? And I think probably put you in
- 17:00a good position to succeed at sales when those opportunities
- 17:05eventually opened up. OK.
- 17:07So you know, you were approached by some friends, they want to
- 17:09start a business. You didn't have any experience
- 17:12in the staffing business that they wanted to start here.
- 17:14So you're like, hey, I know the public accounting side of things
- 17:19and you came up with this idea of, let me go out to these
- 17:23competing firms, talk to all their HR folks and form kind of
- 17:27a networking support group. Is that like a good way to
- 17:30describe it? OK.
- 17:34And a big part of what you were able to do is to help them see,
- 17:38yes, you guys compete for these resources and those resources,
- 17:41but there's a lot that we can share and and learn together.
- 17:46And big thing that you wanted to do was to try to reduce the
- 17:50turnover that was taking place as well as support all of these
- 17:56young new accountants that are coming into the field, right?
- 18:00It helped them sort of find the right path forward.
- 18:03And how have I done here? What did I miss?
- 18:06Now that that's that's a very good summation.
- 18:09The, the thing was, the funny part about it is the day after I
- 18:14did this, I'd get 20 resumes from, from the audience and they
- 18:18were very valuable candidates because all the firms wanted two
- 18:22and three-year people out of public accounting.
- 18:25And I would get in touch. I would, I would counsel them
- 18:28and I'd tell them again, I think the best bet is to, you know,
- 18:31stay 6-7 years experience wise and so on and so forth.
- 18:34But if you can't, you can't, you know, we just can't do it
- 18:39because it's very demanding. Let's see what we can do.
- 18:42And that was so we had the candidates and the client, my,
- 18:46my CPA firms. I said, I'm not going to charge
- 18:49you for these, for these, you know, for the, for the
- 18:53presentations, nor for turning a kid around.
- 18:56I would turn one out of three kids that quit and had A and
- 19:02accepted an offer. I would turn them around and by
- 19:05explaining again, you know, this and this and this and I had
- 19:08people years later, partners in the CPA firms camp Frank, your
- 19:12lecture, you know it it, it changed my, my Vista, my, my, my
- 19:16goal became get that six or seven years.
- 19:18And by the time I did that, the work got better, the
- 19:21responsibility got better. But in the meantime, I would
- 19:25meet all the partners in the CPA firms and they would send their
- 19:28clients to me. And when I was recommended by
- 19:31the partner on the job, I was no longer just a recruiter.
- 19:34I was a consultant to them and that's how we develop so many
- 19:38clients. And that was a real, a real
- 19:41benefit. But the, the, the bottom line is
- 19:43you never know where you're going because I didn't know what
- 19:46the hell I was doing when I did this.
- 19:49OK, I just said this wasn't. Like a well thought out
- 19:52strategy? I'm absolutely.
- 19:53Not why? It's not necessarily that I I
- 19:55think I have good forward thinking, but I didn't know what
- 19:59I was doing. OK, and but you throw yourself
- 20:03in and I said I knew if we're going to who needed us, we're
- 20:07brand new staffing firm, you know when and these clients were
- 20:11dealing with all that other firms and so on, the Robert
- 20:14Halfs of the world and so on and so forth.
- 20:17So I said the only way that I got to meet these people and I
- 20:19got to tell, but they said they saw a young kid who was ACPA
- 20:23and, and we produced, you know, listen, we worked 10/11/12 hours
- 20:29a day, every day of the week in those first two or three years.
- 20:33I wonder what listeners could take away from your experience
- 20:38in this model, right? A lot of business development
- 20:41folks, a lot of folks in sales. What what do you think is sort
- 20:45of the repeatable part of this strategy?
- 20:48I think people do business with people they like, OK, They all
- 20:52have choices. If you're on the insurance
- 20:54business, 1000 insurance agencies out there, you know,
- 20:57but if you get in front of them and you like them and you could
- 21:01bring value to what they're doing.
- 21:02Not only in, in the, my case, it was not only, you know, the CPA
- 21:06firms, you know, placing people with them and giving them value
- 21:09that way because they needed people desperately, but also
- 21:13have helping them to retain their staff.
- 21:16And in doing so, I got a boatload of candidates.
- 21:21Yeah. And I, and I told them, I said
- 21:23that's the reason. I said if I, if I travel for you
- 21:25or you, I'll charge you. When I traveled all over the
- 21:27United States, I had to curtail that because it was taking me
- 21:29out of the office too much. But it was a great message for
- 21:33them. So I, you know, we got very
- 21:34lucky with that. So the bottom line was you got
- 21:38to try. You got to go out there.
- 21:40You got to knock on doors. You have to be perceived.
- 21:42You're going to sell. You got to be persistent.
- 21:45And you have to reflect on what value you could give your client
- 21:49and what makes you different. I was ACPA, most of my
- 21:53competitors weren't Cpas. OK.
- 21:56And then once I started doing the lecture series at every we
- 22:01have state society conferences and I joined the board.
- 22:05They asked me to join the what? At one point they asked to be
- 22:07president. I said, well, I can't be, I
- 22:09didn't even practice accounting anymore.
- 22:10I can't be president of a, a 40,000 person, you know,
- 22:16society, but and, and again, joining these organizations, OK,
- 22:23nobody does anything in these organizations.
- 22:25So all you have to do is stick your hand up and say, I'll do
- 22:28and you become a star. So that's another thing I, I
- 22:32advise young people, whatever their business businesses, stop
- 22:36going home and watching Netflix. OK, find a find a charity, find
- 22:40a nonprofit organization where you can, where you see that,
- 22:45that, that, that, that, that these are potential clients.
- 22:48These are people I want to get to know.
- 22:50The most important clients I ever had I found from the
- 22:54charitable work I did, whether it was Catholic Charities,
- 22:56Brooklyn, Queens, or the Columbus Foundation or the
- 23:00Thalassemia Coolisanemia Foundation.
- 23:03That's where I met my most critical clients.
- 23:07Let's talk a little bit about the philanthropic work that
- 23:09you've done. We mentioned in the intro you've
- 23:12raised over $20 million through the Columbus Citizens Foundation
- 23:16Adopt A Scholar program. How did it's a staggering
- 23:19number? How did that initiative start?
- 23:22Well, again, it starts on a shoe spring.
- 23:24OK, I was, I was on the board of the the Columbus Foundation.
- 23:27We had about 400 insane Italian American people, very proud of
- 23:32their heritage, very family oriented.
- 23:35And as I joined, I, I noticed every year or two they'd send
- 23:39out a letter about scholarship giving and so on.
- 23:41And so, and, and they, you know, somebody sent a check for 205
- 23:45hundred and they collect a few $1000 and parcel a, you know, a
- 23:51scholarship effort, you know, and give 3 or 4 scholarships.
- 23:54OK, I said this is, you know, so I'm thinking about this and I
- 23:58say you need a program. OK, you need something that you
- 24:01can sit in front of a person as I did with ACPA firms.
- 24:06So I started this, I envisioned this adopt A scholar program
- 24:09where we could, where we'd ask a person to donate either a four
- 24:15year scholarship or a perpetual scholarship.
- 24:18A four year scholarship was $25,000 that they could pay over
- 24:234 years, but we'd rather have the money up front.
- 24:25And a perpetual scholarship was $100,000.
- 24:28And again, I didn't know if this would work, but I went to the
- 24:31president at the time and I said, you know, I want to do
- 24:34this we two or three times to convince him.
- 24:37And all I needed was to do a, a brochure.
- 24:40So I did a brochure and I went back to the board.
- 24:43I was on the board of that time. I think it was treasurer of the
- 24:45foundation. And I asked them for their input
- 24:48on my, they on my things. And they said I had a young
- 24:51woman in a, you know, dressed in a cap and gown on the front.
- 24:54And the only comment I've got, so she doesn't look Italian.
- 24:57So I'll put a mustache on it. She'll look Italian.
- 25:01At any rate, The first day I do this, I go to Mario Gabelli and
- 25:07Mario says I'm I'm a big supporter of Ford and Prep.
- 25:10I said the high schools are important and he and he says
- 25:13I'll do $300,000. Then I call up Larry Oriana, who
- 25:17I didn't know. I knew Mario.
- 25:19He's these are both members. And Larry said, what did Mario
- 25:23do? We went to college together.
- 25:25I said Mario did 300 and he says, OK, I can hear him.
- 25:30I can hear with the, you know, the wheels turn out OK, we'll do
- 25:33300. He's I'll do 300.
- 25:34That's 600. Mario calls me up later in the
- 25:37day and I hardly knew him because I was still a kid.
- 25:39You know, he said I want to do 20 scholarships at the at
- 25:43Fordham Prep, but that, that, that I said, Matt, that's
- 25:45$400,000, OK, we'll do 400. So I said, well, screw it.
- 25:50I call Larry up and Larry, I, I'm sorry to do this to you, but
- 25:54you asked me and he did 400, he did 400 and I put in 100.
- 25:59We had $900,000 on day one. And then I would go with my
- 26:03little brochure. We sent a brochure to 400
- 26:05members. And every time I saw a member, I
- 26:08would, you know, I'd say, hey, well, you know what, we, we got
- 26:10the see, you could, you could name the scholarship in the name
- 26:14of a loved 1. The Italians are very big in
- 26:16that, you know, honoring their parents and grandparents.
- 26:18You could pick the school, you could pick the major.
- 26:21You just can't pick the student 'cause I know they'd be sending
- 26:23their nephews. So, you know, so we had a
- 26:25separate committee to, to do the vetting for the students.
- 26:28And so I publicize that and it just took off.
- 26:31I put a big plaque up in the in the in the foundation right off
- 26:37the bar with the names, OK, you're both in the annual and
- 26:41the perpetual. And I would tell the 100,000 a
- 26:44lot of money, I said, but you're going to, you're in the 50% tax
- 26:46brack. It's going to force you $50,000
- 26:49and then you're going to give me appreciated stock.
- 26:51OK, so the capital gains, you know, that stock might be worth,
- 26:57you know, $1000, but if you sell it, you got to pick up to
- 27:00$300.00 of capital. Wait.
- 27:01Sorry, sorry. Frank, explain what you're
- 27:03talking about with the the appreciated stock.
- 27:05OK. If you have a if you have a
- 27:07shares of stock that you purchased for $500 and now
- 27:10they're worth $1000 if you sell it, you have to pick up $500 in
- 27:16capital gains. Yeah, your basis, right.
- 27:18Your basis is OK. And then the $100, the 100 is
- 27:2220%. So that's only worth $900 to you
- 27:27to you. But if you give it away it's
- 27:29$1000, you get $1000 deduction. So if you, if you, if you have a
- 27:33stock that's worth 50,000 that we bought at 50,000, now it's
- 27:36100,000 because you guys were, were fairly well off and it's,
- 27:41you know, it's, it's serious money.
- 27:42So that you give appreciated securities.
- 27:45I've used that. So it, it took the bite out of
- 27:47it. And once I start to put the
- 27:49bulletins, you know, put their name on a, on a plaque, then it,
- 27:53it just rolled from there. And I got it up to 10/12, 10:10
- 27:58to twelve, $12 million. And we brought in a terrific
- 28:02fella, a lifelong friend of mine, Dave Yo Marini as
- 28:05executive director. And he, his background was, was
- 28:08sales and was not sales. It was giving philanthropy.
- 28:12And he was with us about 10 years and did about a million a
- 28:16year. So it was by the time we got
- 28:18done, I was kind of in the $22 million bracket.
- 28:21And the other thing I did was we had Grand Marsh, the Columbus
- 28:24Day Parade. I ran the Columbus Day Parade
- 28:25for 10 years in New York. I didn't know what the hell I
- 28:28was doing. But you know, we, we, we got, we
- 28:31got Emmy Awards every year. We ran it.
- 28:33I ran it. Emmy nominations never won
- 28:36because Macy's Thanksgiving. I didn't realize they gave out
- 28:41Emmys for parades. No, they gave out.
- 28:43Yeah, no, it, it's local stuff, you know, OK, got it.
- 28:46And, you know, but the, the, the Macy's would win every year.
- 28:51I mean, they had a probably a 20 million, $30 million budget.
- 28:55I, I, I never dime. I had a 75 year old woman
- 28:59helping me, one of the employees.
- 29:02But we did some, I went to the Broadway theaters.
- 29:05We had Columbus Day is always on a Monday, which is dark day.
- 29:09And I, I got 3 or 4 Broadway shows every year, OK, to come in
- 29:15and do a number during the parade because the parade was,
- 29:19it was floats in high school bands and so on and so forth.
- 29:23One of the things that the other thing I did was it was
- 29:26important. I'll just take a second is
- 29:27you're going to have to edit this down.
- 29:29I apologize, but let it. Roll.
- 29:33OK, but I we had always, we had Frank Sinatra's Grand Marshall,
- 29:39Sophia Loren, you know, just that every year.
- 29:43But all we got from them was a, a bill from the Waldorf.
- 29:47OK, I said, this is nuts. So the first person I went to
- 29:52was Ken Langone. And I said, Ken, I want you to
- 29:56be, you know, first of all, I want you to be a member and I
- 29:59want you to, you know, be Grand Marshall.
- 30:01The parade. He was very, very proud of his
- 30:05attacking here. He's absolutely frank.
- 30:07He said, what do you want? It's $1,000,000.
- 30:09He said, OK, well that's pretty, pretty good start.
- 30:13And then we always had honorees and I always had been a past
- 30:16honoree, but never asked the honoree reason why.
- 30:17I said, OK, if you want to be Grand Marshall, that's 1,000,000
- 30:20bucks. And if you want to be at
- 30:23honoree, it's you got to raise, give or get.
- 30:25You can raise it, raise it, whatever you rate, whether you
- 30:27raise it, whether you write a check that was 250,000.
- 30:31And for eleven years in a row, 12 years in a row, I had Mario
- 30:35Gabelli, Bob, Bob Lepenter, both very senior guys, very
- 30:42philanthropic. And we raised in some years, I
- 30:46had one honoree that raised $800,000 on top of, you know, so
- 30:50between a million and a million. So we started the weekend,
- 30:53Columbus weekend with a million and a half to $2,000,000.
- 30:58Where do those funds go then? I'll excuse me.
- 31:00Where do those funds go that you raised?
- 31:02That went to the scholarship program.
- 31:04Got it. OK, so when?
- 31:05I was president. We we got up to 600 kids in the
- 31:08scholarship program 600. Now tell us about the Tunnel to
- 31:13Towers board. This is another area where you
- 31:15raised a lot of money for A cause near and dear to your
- 31:19heart. Well, the, what was happening is
- 31:22the, we're coming up on our 50th anniversary and I told my son
- 31:28Chris, who's then was transferred.
- 31:30I was becoming CEO of the company and I was phasing out,
- 31:34you know, after 50 some odd years and fortunately he's
- 31:39better than me. So it worked out very well.
- 31:42OK, so I had no problem for a couple years.
- 31:45I, I bring him in every decision that was made he was involved in
- 31:49and the last two years before I retired.
- 31:52If we disagree, which was rare his you know, his way one, I was
- 31:57because you're going to run the company and I told him, you
- 32:00know, you're going to they're going to see you don't think
- 32:02you're the Prince because you have to win over your employees
- 32:06and you have to show them that you've, you know, got what it
- 32:08takes. And I'll tell you, he's in the
- 32:10office every day And and now there's the only people in our
- 32:14office today are are administrative people.
- 32:16Everybody's all of the United States working from home.
- 32:20All your recruiters, all your sales people.
- 32:21All the recruiters and they're salespeople, so you can't force
- 32:25them to come in because they can go someplace else.
- 32:28Everybody wants them. They all get, you know, try to
- 32:30get recruited by other firms. So at any rate, I said, I said
- 32:37to Chris, you know something, you know, I don't want to have a
- 32:41black tie or a big party or something like I want to do
- 32:43good, OK, and do good. And turns out that Sal Cassano,
- 32:49who was the deputy chief of the New York Fire Department on
- 32:549/11, OK, got pretty banged up. But, you know, he went down to
- 33:02the towers with with five others.
- 33:04Chief Gansey was his boss. And all 5 perished.
- 33:11Here we go. Sal set up a fire at Gansey's
- 33:17command. He set up a command post outside
- 33:19trying to direct everything, which is chaos.
- 33:22And when the South tower came down, he got hit.
- 33:25He wound up in in the hospital getting last rites from the
- 33:29cardinal. And he said he got up, dressed
- 33:34me, went back to the towers and didn't get home till the night
- 33:39of September 12th. He had three broken ribs and
- 33:45they refused to leave. We were, we were kids together
- 33:48in the old neighborhood. So he was a one of the founders
- 33:51with Frank Siller, an amazing individual.
- 33:54And you know, I thought about that and I thought about, you
- 33:57know, that those guys back in Vietnam and you know, sometimes
- 34:01I felt like, you know, why didn't I go kind of thing.
- 34:05So I met with Frank and I said with Chris and I said we want to
- 34:09do something. I want to raise some money.
- 34:12I said maybe I could raise $300,000 / 2 three years.
- 34:16He said fine, you know, go out and do it.
- 34:19And I started made a list of all my guys at, at that I play golf
- 34:23with all the people at the Columbus Club and, you know, and
- 34:26everybody else I knew and started calling them one after
- 34:29the other. I also called one of my
- 34:34contacts, a terrific guy at American Express.
- 34:37And at the end of the day over this, we've done this for the
- 34:40third year. We just hit the $5.4 million
- 34:44mark on that. Wow.
- 34:47Yeah, I got American Express, put a couple of million in and.
- 34:51How'd you get Amex to pony up so much cash?
- 34:54A dear friend of mine's Aceo and but that that you know, he's not
- 34:59the type of guy that would, you know, that would do that if it
- 35:02wasn't worthwhile. He bucked it to his to their
- 35:06philanthropic committee. But Tunnel to Towers makes such
- 35:10a compelling argument. And where does the money go?
- 35:13I explained that part to us, Frank.
- 35:15Well. They have it started with Frank
- 35:20Little nothing in Staten Island. OK, it's 911.
- 35:24Frank's brother was died in in, in in the towers.
- 35:27So they this family got together.
- 35:30This guy was, he, he heard about it was on his way to play golf
- 35:33that morning and he heard about it.
- 35:37He went back to his Firehouse. They had all responded at that
- 35:40point. He took 60 lbs of equipment and
- 35:43drove back and got to the, to the, the battery tunnel, which
- 35:47the the Manhattan side is about maybe half a mile from the
- 35:51towers and it was closed. He strapped his equipment on,
- 35:57ran through the towers into the into the north tower I believe
- 36:01and never came out. So is they so the family.
- 36:07So they started this little nothing and they got to Mayor
- 36:12Giuliani said we want to do something symbolic.
- 36:15And they started a run through the battery tunnel and they
- 36:18actually today, every year in September, they closed the
- 36:23battery tunnel on a Sunday. And last year they had 40,000
- 36:27runners. Wow, it's chaos.
- 36:33It's complete. All of lower Manhattan clothes.
- 36:36Imagine this. When you come out of the tunnel,
- 36:39there's 300 and I think 325 firefighters with pictures of
- 36:44everyone that died. Eddie feeds every one of them.
- 36:50When you come out of this tunnel, when you finish the
- 36:52race, OK, it's a race or a walk, whatever it is.
- 36:55He's got food trucks and food stands set up and a concert.
- 36:59It's just, it's it's amazing. So in the toward the beginning,
- 37:04Hurricane Sandy came. He helped some people from
- 37:06Staten Island. He went to there was a Staten
- 37:10Island. The first double amputee, the
- 37:12quadruple amputee that survived the war was in Walter Reed.
- 37:18He went to Visa Staten Island. Guy went to visit.
- 37:20Guy had no arms, no legs and and Frank looked at me, he says.
- 37:24He says where do you live? He's have an apartment.
- 37:26We're going to build your home. So he was the first one.
- 37:31And it's a smart home. So there's a, there's a small
- 37:33technology in there that. Everything you got, it's just
- 37:36unbelievable. Well, to Fast forward, they've
- 37:40done what started with catastrophic injured veterans.
- 37:44OK. And from there, he he he looked,
- 37:48there were two New York City patrolmen that was sitting in a
- 37:51car that got murdered, you know, by a radical.
- 37:56And, you know, he went to them and he said, OK, we got to help
- 37:59you. We're going to we're going to
- 38:00give you a home that not a smart home, you know, to the to
- 38:03spouses, but a home and then another one and then another
- 38:08one. And either he would pay off the
- 38:10mortgage if they had a home or build them a home.
- 38:14Well, they've gotten over 2000 of these either homes or paid
- 38:19off the mortgage. And he's made a pledge to pay
- 38:22off the mortgage or build a house for every first responder
- 38:27that dies in a line of duty, whether cop, firefighter, EMS,
- 38:32plus the catastrophic injured veterans they're called.
- 38:37Those are the Gold Star people. In all of New York City.
- 38:40In all of the United States, they've done over 2000 of these
- 38:45and thankfully, you know, you, there haven't been too many
- 38:49catastrophic injured, you know, veterans.
- 38:52OK, so he's got these programs running and he, he said, you
- 38:56know, veteran homelessness is a, a play.
- 38:58There are they, they estimated over 50,000 vets on the streets.
- 39:04And I walked past them and, you know, I was walking river to
- 39:07river and side to side Manhattan.
- 39:09They became invisible. People would see them, you know,
- 39:12they'd be there in the winter time would piled with, you know,
- 39:17with blankets or whatever. They'd have a shopping cart with
- 39:20their worldly possessions next to them.
- 39:22And nobody gave them a second look.
- 39:24It was like they they, they've melded into the, the woodwork.
- 39:28He said, this can't be. He said, we're going to take
- 39:31them off the off the streets. And as of this year, he's taken
- 39:3617,500 vets off the streets and 8500 children that were living
- 39:44on the streets with those vets. Oh my God.
- 39:47He's built someone years ago gave him a big piece of property
- 39:52in in the Orlando Tampa area. He built a do good village.
- 39:56I, I don't know if you've ever seen the ads, but he built a do
- 40:00good village. It'll be 100 homes.
- 40:02He's got about 40 homes built and at 30 just opened a 30,000
- 40:06square foot a reception center. And swimming pools, basketball
- 40:14courts, you know, reading rooms and so on.
- 40:16However he's taken off the street, he's got, he's got a, a,
- 40:20a, a social worker that, an employee that's, that's in touch
- 40:24with that break. He just can't take him off the
- 40:26street and put him into a home, you know, because they, they
- 40:30need psychiatric help. They need he goes to the VA on
- 40:34their behalf and gets the VA to contribute and so on.
- 40:39So. Frank, how do we find out more
- 40:42information people want to participate want to learn more
- 40:45want to. Donate T to t.org T to t.org
- 40:54Tunnel to Towers foundation. So he started this $11.00 a
- 40:57month. He's got about 80,000 people
- 41:00paying at least 11. Some thug pay 20, some 25.
- 41:04This year Tunnel to Towers will do 500.
- 41:07They lift 2025 the gross revenues in $500 million and 93%
- 41:14of the money that they raise goes directly to the programs.
- 41:18Now you got the the veteran homeless program, the
- 41:21catastrophic injured first responders.
- 41:25OK, so this is the 25th anniversary of 911 and the 25th
- 41:31anniversary naturally the foundation.
- 41:33So he, he, he brought 5300 of the families of either
- 41:41catastrophic injured veterans or this is just the last week and
- 41:45we went up to Orlando, flew them into Orlando, took over
- 41:51Universal Studios at the theme park for a day.
- 41:55OK. It was open to the public up
- 41:57until 7:00 PM. And then from 7 to 10, it was
- 41:59exclusively for Tunnel to Towers of all the children.
- 42:02I never saw so many wounded veterans.
- 42:04It was just unbelievable. He has a a concert the next day
- 42:09at a big picnic area, feed feeds our 5300 people and then he
- 42:14announces every child who goes to college, he will do a four
- 42:22full four year scholarship for every one of these kids.
- 42:26Now I'm with and take this guy's name.
- 42:28I'm with Ivan Castro. Castro, he's the guy.
- 42:32He was the first one that we built the smart home for.
- 42:38Now we have two others. I have a, a, a, a veteran in New
- 42:42Mexico that's got six kids and I'm waiting for another one.
- 42:46So we'll do three homes and we'll do three that that's about
- 42:53two and a half million. And the other 3,000,000 right
- 42:55now going to veteran homeless. He's building, he's got these,
- 42:58he's got two large hotels that he's completely gutted and
- 43:04refurbished. It's just amazing.
- 43:07They're they're gorgeous and the smart homes are gorgeous.
- 43:10You got to see. And Frank, all the funding comes
- 43:13from people donating money. Absolutely.
- 43:16He's on. He's, he's on.
- 43:19They do, you know, what do you call it?
- 43:21They do ads all over the place. Anyway, Ivan Castro, he's the
- 43:25first one they gave me. He was a sought as a private in
- 43:29the army, made first Sergeant, went to office at Canada School,
- 43:32got his degree. He's on a rooftop in in Yousefa
- 43:37in Afghanistan and he's on a rooftop, which he's a captain at
- 43:43this point. He shouldn't be on a rooftop,
- 43:44but he's he was a sniper. He was Green Beret.
- 43:47This guy was all everything. He gets hit with a mortar shell,
- 43:52two of his men die. He's next to death.
- 43:56He wakes up in the hospital like 20 days later.
- 43:59He's in a coma and he's got strapped on his body from head
- 44:03to toe, broken ribs. It's just it's amazing.
- 44:07You could see on my Facebook page an interview between he and
- 44:12I and they, he's totally blind. OK, We'll never see again.
- 44:18One of his, one of his eyes got blown out.
- 44:20The other that the ocular nerve, whatever was cut off.
- 44:23So they tell him he'll never see again, so that the Army comes
- 44:27and says, OK, you know, you're fully disabled, going to be a
- 44:29disabled, you know, veteran. He said, no.
- 44:33He said, I, I, I want to continue to serve.
- 44:36If you can't. We don't have blind officers in
- 44:39the, in the Army. But since he was special forces
- 44:43and so on and so forth, it bucked it that he bucked his
- 44:46request up to an Admiral who runs all the special OPS for the
- 44:50Marine Corps and the Army, Navy and so on and so forth.
- 44:54And this guy came to the hospital and said, you're not
- 44:58going to, we're not going to discharge you.
- 45:00You want to serve, We'll serve. He served 14 years as the only
- 45:05blind officer in the Army, made major and retired.
- 45:10While he's in the hospital and he's fighting them to stay in
- 45:13the Army, he hears about the Marine Corps Foundation
- 45:18Marathon. He runs the marathon blind.
- 45:23He's since run about 80 marathons, couple of double
- 45:26marathons. He climbed Mount Kilimanjaro.
- 45:32He trekked across from Canada from Mexico to from Canada to
- 45:37Mexico on the Pacific Coast Trail blind.
- 45:41He ran with the bulls in Pamplona.
- 45:44He went to the South Pole with Prince Harry in the Invicta
- 45:47Games. He's spoken all and he read.
- 45:50I don't have the book here I should have brought in.
- 45:52He wrote a book, Fighting Blind. Amazing book, Ivan.
- 45:56Castro. And I told him that you gave and
- 45:59you know, you, you once you get attached to these, so you can't,
- 46:01you can't separate yourself from them.
- 46:04So between so we're doing this and I'm getting, I'm getting
- 46:08$500, a thousand dollars, $5000 from friends and so on.
- 46:12And American Express stepped up into two million.
- 46:15And this past year I got the two people, one wannabe anonymous
- 46:20gave me $1,000,000 out of nowhere.
- 46:23OK, that person is, is will have the person in New Mexico and the
- 46:28other person. And by the way, I sat down with
- 46:31him, he's an Italian. And we had to say I went to
- 46:36Bayonne, NJ to meet his mother and the family.
- 46:39And I had a box of cookies with me and I, he said I'm going to
- 46:43do $1,000,000. And he said, but I also wanted
- 46:46something for education. That's Columbus.
- 46:48So we got $200,000 from for the Columbus club.
- 46:51I just don't believe I went to meet him for the first time
- 46:53because I didn't, I didn't really know him.
- 46:56And he gives me an address. I mean, I'm in front of the
- 46:59Bayonne Country Club, OK with beautiful golf course, private
- 47:02Country Club. And I call myself, I'm in front
- 47:05of this Country Club. But he wants to give me the
- 47:06wrong address in the, in the, in the book was the wrong address.
- 47:09He's no, he says we built that. We own that.
- 47:12He says, I'll come get you. I'm 5 minutes away.
- 47:14He says they so the guy amazing, amazing.
- 47:18What I'm taking away from this is that in spite of all the
- 47:22nonsense and the noise and the mess that goes on in the world,
- 47:25there are a lot of good people doing really good work, and I
- 47:31count you among them. So thank you for all of that.
- 47:35This country is the most philanthropic country.
- 47:38We have Navy ships, hospital ships all over the third world
- 47:43countries. People don't understand that.
- 47:46People don't see that the Americans are the most
- 47:50philanthropic people on the face of the earth, and all you got to
- 47:54do is ask. I love it.
- 47:57I want to give some time to talk more about the forum group
- 48:00today. Can you tell me who do you guys
- 48:03work with? What problems are you solving
- 48:05for them? What makes a client a good fit
- 48:07for you guys? Well, listen, yeah, it starts
- 48:10with hiring good people and keeping them.
- 48:15Our most senior employees has been will be 47 years.
- 48:19We have probably 6 or 7. Eight people have been will be
- 48:222025, thirty years, OK, a bunch of new people.
- 48:25And this is a business with a lot of turnover.
- 48:27A lot of people think they can sell.
- 48:29They come in and they can't sell and they they wind up leaving
- 48:32and so on and so forth. So you have to have a you have
- 48:35to be a good leader. And what the Marine Corps taught
- 48:38me is you never ask a person to do something that you wouldn't
- 48:40do or you haven't done. And you have to be the first
- 48:43one, the office and the last one out.
- 48:46And you have to take care of them.
- 48:47If people, if you treat people well, they'll stay.
- 48:50OK. Now a couple leave to maybe two
- 48:54or three left to start their own firm.
- 48:56We understand that. OK, a lot went to I mean, you
- 49:00you look at a a rabbit half they go through people like, you
- 49:04know, unbelievable, but. What does it look like for you
- 49:08to take care of your people? What are you guys doing
- 49:10differently that other staffing firms miss?
- 49:13Well, when I, I can't say we're over, we're paying them fairly.
- 49:16Number one, we're giving them decent working conditions.
- 49:19Well, now that most are working from home, but they know they
- 49:23have an anchor with us, OK. We never, I never took a dollar
- 49:29out of the, the business that I didn't need to live, OK.
- 49:32We have in addition to the permits there between
- 49:36temporaries and and payroll ease where we companies come to us
- 49:41to, to payroll that temporary employees that they bring on
- 49:44themselves. We probably have another 400
- 49:47people out there that have to be paid every week.
- 49:50OK, So you're also supporting them, OK.
- 49:56In other words, when I was getting the the job orders from
- 49:58my my public accounting firms and their clients, I would dole
- 50:03them out to my people. OK.
- 50:06And you know, OK, here's a controller ship, but this
- 50:08company is a, you know, a tax manager at that company is this.
- 50:13And they appreciated that. So at the end of the year, if
- 50:15they produced X number of dollars, I could show them that.
- 50:19Well, three or four of those placements came directly from
- 50:21your association with foreign the reputation that we have, OK,
- 50:25the way we treat people. And I insisted we had a
- 50:30guarantee on a person and if it went over the guarantee period,
- 50:34OK, reasonably it wasn't. A year later, I write a check
- 50:39and it was within the guarantee period.
- 50:40You write a check, you you kind of make, you know, try to make
- 50:45lemonade, as they say, out of the lemons.
- 50:46Person didn't work out. What can I do for you in public
- 50:49accounting? I would go bend over backwards
- 50:53for them in that, in that regard.
- 50:54And it always came back to me, just like the public service
- 50:57always comes back to you. You know that.
- 51:01I met a dear friend and he's since passed.
- 51:05John Farrell was the the head of the human resource head for all
- 51:10of JP Morgan Chase. He was on the executive
- 51:13committee. He's one of the top five people
- 51:15in in JP Morgan Chase. We became dear friends.
- 51:19We have Catholic Charities. I sat next to him.
- 51:22We became friends and so on. I had the run of JP Morgan Chase
- 51:26for 10-15 years, OK? He would always say take care of
- 51:30my boys, OK? Meaning me and a couple other
- 51:33vendors that he had. And we had a producer and we did
- 51:35producer Jamie Dimon came in and he wiped everybody out.
- 51:39Start all over again, You know, So it's been a, it's been a
- 51:44terrific run. And I, I sometimes I pinch
- 51:47myself as I, I can't believe I've been this fortunate, this
- 51:50lucky in life. It's just amazing, but you got
- 51:55to attack things. You got to try and we failed at
- 51:58a lot of things. OK, And the other thing is that
- 52:01some people think that, you know, wow, look at me.
- 52:04I I'm I'm worth X number of dollars.
- 52:06I got a business. Hey pal, you better thank God
- 52:10because you were lucky, OK, I worked hard, but I was
- 52:14fortunate. I was the right place, the right
- 52:16time, OK, I had two partners. One got a divorce and he just
- 52:22lost it. And the other, Steve Goldstein,
- 52:26good friend of mine, was still good friends.
- 52:28He lost a son in a boating accident and he wanted to
- 52:31retire. That was 20 years ago.
- 52:33And he had enough, you know, accumulated to retire.
- 52:36He's been hitting golf balls in Delray, Florida, for the last 20
- 52:40years. And, you know, and it, but it
- 52:43was never the money. It was always it, it was the, in
- 52:46my case, it wasn't the quest for success.
- 52:49It was a fear of failure. When you grow up like I grow up,
- 52:53grew up, you, you know, I still can't.
- 52:57I, I always say I I'll give it away, but I won't pee it away.
- 53:02In other words, we're going to my wife thinks I'm crazy.
- 53:08OK, We're going to take a, a, a river cruise in June with dear
- 53:13friends of ours. They're going to fly.
- 53:19My wife flies business class, I fly coach, which is the
- 53:22stupidest thing in the world. But I said, hey, it's a it's an
- 53:268 hour trip. What am I going to pay an extra
- 53:28to? But I but I give 10 * 100 times
- 53:32that away. The charities that but that's
- 53:35just me. I'm nuts.
- 53:37OK, people say you. I said look, I got what?
- 53:40What do I get? I got a reclining seat in first
- 53:42class, business class big deal. I said I'll sit in the back.
- 53:45Leave me alone. And I laughed so hard there
- 53:48because I, I think there's something in the, the old school
- 53:51Italian mentality. I I listen, I hear you tell
- 53:54those stories. My mother never bought anything
- 53:57that wasn't on sale. Wasn't 30% off.
- 54:02We'd go to I'd the, the, the pastries we had were always from
- 54:05the the day old, the two day old cake store.
- 54:08OK, all my clothes are bought. They were all off the Piers.
- 54:13OK, the vegetable store across the street, that guy sold two
- 54:17apples a year. But everybody in the
- 54:20neighborhood wore the same raincoat, the same hat, the same
- 54:23whatever they stole from the Piers was what people wore.
- 54:28Frank, what is the future of the forum group look like?
- 54:31Where's it going? Well, my son is doing a great
- 54:35job with it. We now have offices in
- 54:37Connecticut, like major office in Connecticut with New York and
- 54:42we have small offices in Portland and Boston, New Jersey.
- 54:47And we're building it that way. We're finding good people and
- 54:53from other firms who are proven producers and I'll go to them
- 54:58and I'll say, listen, we'll put you in business.
- 55:02I'm not asking for a dime of capital.
- 55:04You'll get an equity position on day one, OK.
- 55:08We'll give you fair compensation for your production.
- 55:11We'll give you fair compensation override for the people that
- 55:15that you hire. We'll encourage you to hire and
- 55:18we'll take care of everything and you'll be charged direct
- 55:22expenses. In other words, your payroll,
- 55:24your advertising, that that's it, our, your accounting,
- 55:29everything else will come from forum and we won't take a
- 55:32nickel. And then, you know, we'll share
- 55:35the, the, the profits at the end.
- 55:37And that formula's got us some great people, OK, Because
- 55:41they're people that, you know, they've got 10/15/20 years in
- 55:45the business now, they've got mortgages and children and so
- 55:48on. So they're kind of in that trap
- 55:52and we take him out of the trap. Wow, it's a generous.
- 55:55And we guarantee him their their first year's comp.
- 55:58And the first guy we did this who runs our Connecticut office,
- 56:01Jason Woody, the terrific guy. He's we did this, he's there six
- 56:06months and COVID hits. Yeah, that was COVID.
- 56:11And we said, well, don't worry about the the one year comp,
- 56:16we'll take care of you beyond that.
- 56:17We didn't have to. He was such a great producer.
- 56:20So that form has worked pretty nicely and building the New York
- 56:24office and so on. So it's sweat equity, you know,
- 56:29don't think any anything. I mean, you got to commit, OK?
- 56:33You have to commit to being successful.
- 56:36I didn't realize this. I didn't realize anything.
- 56:38I didn't realize I could run a parade when the answer in the
- 56:41Columbus Day parade. I didn't know what the hell I
- 56:42was doing, you know, but I knew we had strong members who had
- 56:48contacts. I went to Charlie Gargano was
- 56:52running New York State Development.
- 56:54I I went to Disney and they laughed in my face.
- 56:57Do do an ethnic parade. You're crazy.
- 56:59I went to CC was negotiating the New Amsterdam Theater and the
- 57:03Disney Store, and Disney was thinking about getting the hotel
- 57:06business in New York. He was the money guy in New
- 57:08York, NY State Development. He called them.
- 57:11They called me. What can we do for you, Frank?
- 57:14And for about 10 years they were sent 3 truckloads of we had
- 57:17Cinderella and the all the characters and this that what a
- 57:21pain in the ass that was. But that's what got us the Emmy
- 57:24nominations. I went to I went to the
- 57:28Rockettes and they let they told me you're crazy.
- 57:31We'll never do anything like this.
- 57:33He says, do you know I said that?
- 57:35Well, you know how much you know, why could I?
- 57:40I can't pay you. I told I don't have a budget.
- 57:42What you do crazy and I call a fellow John Tatter was the one
- 57:46of the founders of Cablevision, a member.
- 57:49I said, John, help me out 'cause Cablevision on Madison Square
- 57:52Garden, which owns Rockefeller Center, which owns the
- 57:54Rockettes. Same woman calls me up an hour
- 57:57later says Frank, what can we do for you?
- 57:59How can I help you? So we we had the Rockettes.
- 58:04So I go back to NBC, was that that they had the Rockettes when
- 58:08they did the tree lighting in Christmas and the general
- 58:12manager of the New York operation.
- 58:13Frank, how much are you paying them?
- 58:15I said we were paying them. I don't pay you.
- 58:17They were paying them $50,000 a year to do to do the the
- 58:20Christmas tree opening. We got them for nothing.
- 58:24You've got some good relationships with some good
- 58:26people. Well.
- 58:26Let's you see what it's just tapping into a network, just
- 58:30like we did for the tunnels of towers and and and I'm just
- 58:34blown away by this organization. Yeah, Frank, I've just got one
- 58:38more question for you today. But before I ask it, I want to
- 58:40do 3 quick things for the audience.
- 58:42First of all, if you want to get in touch with Frank Fusaro, his
- 58:45e-mail address is f.f.usaro@forumgroup.com and
- 58:51we'll have a link to that in the show notes.
- 58:53Also, the Tunnels to Tower website that he mentioned
- 58:57before, T the #2t.org, T2 t.org, that'll be in the show notes as
- 59:05well. And if you're enjoying our show
- 59:07today, please take a moment to subscribe wherever you're
- 59:10listening. It sends a signal that helps
- 59:12others discover our podcast. So thank you for taking a quick
- 59:15moment to do that right now. And as a reminder, you can get
- 59:18your staffing employees access to therapists, doctors and
- 59:22prescription meds. That is paradoxical as it seems
- 59:25actually increases your company's net profits, real
- 59:28gains that can change how business is valued.
- 59:30Contact us today at adbackbenefits.com.
- 59:33So last question for you, Frank. A year from now, what is 1 very
- 59:36specific thing that you hope to be celebrating?
- 59:40Well, besides my 80th birthday, I just, I just want to see the,
- 59:45the, the, the business continue to grow.
- 59:48I mean, I've seen births, house purchases, I've seen people go
- 59:53on to be very, very successful. It's just, I mean, you start a
- 59:57business to make a living and we did.
- 59:59We had a fabulous living on that but.
- 1:00:02Beyond that, you look at the people and you look at what what
- 1:00:06you've created and that gives me a tremendous feeling as it does
- 1:00:09to to see what tunnels to towers has done with the Columbus.
- 1:00:14How many kids are we educated? 4-5 hundred now.
- 1:00:16It's about 500 a year in our program.
- 1:00:21So you know, it's it's a it's a blessing.
- 1:00:26And so that's a, that's, that's what motivates me.
- 1:00:29And I say I only wish I could do it all over again.
- 1:00:33You've had so much fun, you just want to hit repeat.
- 1:00:36Yeah, like I said, I've been married for 53 years.
- 1:00:39You know, Italians don't divorce.
- 1:00:40I don't know. Well, our friends are still
- 1:00:43married. Long term marriages, My wife,
- 1:00:45Carol. Frank, go ahead, Frank last
- 1:00:48thought. There last I'll give a shout out
- 1:00:50to my 7 grandchildren, Isabella, Gianna, Sophia, Frankie,
- 1:00:56Francesca and Alex and Michael and Annabella.
- 1:01:01I'm blessed. I've, you know, say I've been
- 1:01:04working with the Thalassemia Foundation too, you know, and
- 1:01:07I've been running an event for them for 2025 years.
- 1:01:10Kind of backing off now because I won't spending a lot of time
- 1:01:13with tunnels this hours. But I, I was honored by them 25
- 1:01:18to 30 years ago and they put a little baby in my arms and they
- 1:01:22told me she's a life expectancies.
- 1:01:24Maybe she'll be 10 years old and you know, she passes and she
- 1:01:27needed transfusions every every month.
- 1:01:30They'd go for a full body, you know, half their transfusion or
- 1:01:34half their body. And that was, I was especially
- 1:01:40one and done. I had not done nothing for this
- 1:01:42foundation. They knew me.
- 1:01:44I had two friends and members of Columbus Foundation that were
- 1:01:47affected by this. One lost two daughters and the
- 1:01:49other lost a brother and I. So I said, OK, we 2 honorary, 3
- 1:01:57honorary. As a matter of fact, Rudy
- 1:01:58Giuliani was one and and another friend of mine from the Columbus
- 1:02:02Foundation. And our job was to fill the
- 1:02:05Plaza. Thank you.
- 1:02:05It's only 400 people in the Plaza.
- 1:02:08We did it and it was over. But they put that kid in my
- 1:02:10arms. She's now a nurse deal.
- 1:02:15It's, and you see this and she's got two children and but yet we
- 1:02:23had a, a planning meeting a couple years ago with a
- 1:02:26beautiful little baby. Parents came in, they had the
- 1:02:29baby with that full blown thalassemia.
- 1:02:32And it's, it's big in the Italian community, but you know
- 1:02:34how they had big families years ago when, you know, three died,
- 1:02:38it was thalassemia, which is a blood disorder in the, in the
- 1:02:42sickle cell anemia family. At any rate, you know, 3.
- 1:02:51So we had this little baby and the family had the baby because
- 1:02:58now they can test in vitro. So they knew ahead of time, they
- 1:03:02came to the foundation, small foundation.
- 1:03:04It's a kind of a, it's a orphan disease now.
- 1:03:07It's not that many people have, it's big in, in, in China,
- 1:03:11believe it or not. And that's what a lot of Chinese
- 1:03:14babies that are adopted, they don't want to handle them.
- 1:03:16They have, they have the style scene.
- 1:03:18So make a Long story short, they, they this baby, beautiful
- 1:03:23baby, she came to our event that year and two months later she
- 1:03:27passed. So what do you do?
- 1:03:34How do you walk away from that? How do you walk away from that?
- 1:03:39And, you know, so that, you know, and then we've been, you
- 1:03:42know, raising money for them for you.
- 1:03:44I, I, all I do now is one event a year start at the Columbus
- 1:03:49Club, then went to the Grand Havana Room.
- 1:03:53But that 11 honoree decided to bring his wife.
- 1:03:56And that was the end that we had to get out of the Grand Havana
- 1:03:58Room because they couldn't stand the smoke.
- 1:04:02And so we had to move it over to Pier 17.
- 1:04:05And I called my good friend Sal Cassando.
- 1:04:07I said I want your fire boat to send the fire boat.
- 1:04:10You know, they did the whole 9 yards because it was Pier 17 in
- 1:04:13Manhattan. And we had the fire boat was
- 1:04:16nice. We all look.
- 1:04:19So many good stories. Frank Cassaro from the forum
- 1:04:22group. I want to be the first to thank
- 1:04:23you for sharing both your time and your story with us today.
- 1:04:26I. Really.
- 1:04:26And I want to apologize for telling all these stories.
- 1:04:30I won't accept that apology, folks.
- 1:04:32That's a wrap on another episode of the Inspired Stories podcast.
- 1:04:35Thanks for learning with us. And if one thing stood out, put
- 1:04:39that into action today.