Page 41 - Midas Touch

I consider myself very lucky from the beginning because of my family.
My parents were great examples, my father was my mentor, and I had the
benefit of a great education. I expect a lot from myself because I’ve been
given many advantages. I’ve learned to turn around any bad luck I’ve

encountered. That’s why I know it’s possible.

Getting It Done
Sometimes it’s not my own bad luck that I deal with—it’s someone else’s.
Sometimes understanding other people’s problems is the key to finding
opportunities. In 1980, New York City announced it would be renovating

Wollman Skating Rink, an old ice skating rink in Central Park that had
always been a popular attraction for kids, families, and people of all ages.
After spending $12 million on renovations over a six-year period, the rink
was still not open. So, in 1986, the city announced that it would start
renovations again. Nothing had been accomplished. For six years I had
watched this process (or fiasco) going on because I have a view of

Wollman Rink from my apartment.

I decided to do something about it. Not having this beautiful rink available
to citizens and visitors alike seemed like a waste. I wrote to the mayor at
that time, Mayor Koch, and offered to construct a new rink and have it
done in six months—at no cost to the city. I wanted to give it as a gift to
the city and to the citizens.

My offer as well as my sincerity were spurned by the mayor, and he
published my letter in New York newspapers as a joke. This tactic,

however, worked against him when journalists and the public took my
side. There was a great press reaction, and one paper announced, “The city
has proved nothing except that it can’t get the job done.”

The following day, Mayor Ed Koch reversed himself and suddenly the city
wanted me to take on the job. We had a meeting with city officials and
agreed that I would put up the construction money and complete the rink
in six months, which would be mid-December of 1986. When it opened,

the city would reimburse me for my costs (if the rink worked), up to just
less than $3 million. If I went over budget, I’d cover the overruns myself. I
was excited to be able to do something about Wollman Rink.