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P REF ACE

came in contact with, including all the people on the other side—the
lawyers and other professionals and the real estate moguls them-
selves. I concentrated on what they did, how they did it, how they
acted and reacted in certain situations, and anything else that would
fill the void of my ineptitude. I was like a sponge absorbing every bit
of information I could. Before long my crash course in real estate
paid off and I began to give my clients well-reasoned opinions as to
which deals were good and which were not and what price to pay.
This gave me a unique combination of talents. Most lawyers don’t
know the business of real estate, and therefore, they are not
equipped to make business decisions. They are ready to render ad-
vice on any legal issue, but leave the business decisions to their
client.

RADIO DAYS

Any good lawyer will make lots of money while practicing law, but
since lawyering is a service business, the income stops when you step
down. I recognized the need to invest in some enterprise that would
be of value in my later years. In 1966, my brother-in-law, Martin
Beck, was leaving the Katz Agency, a big name in the business of sell-
ing radio time. He suggested that we look for investment opportuni-
ties together. He thought radio broadcasting on Long Island would be
profitable. I told him, “I don’t know anything about the radio busi-
ness.” He said, “I know all about radio but I don’t know how to raise
the capital necessary for a venture.” I told him, “You find and run the
stations and I’ll find the money to make it happen.” In 1966, we
formed Beck-Ross Communications Corporation and bought our first
radio station in Long Island, WGLI, for approximately $450,000.
Marty knew how to make money in radio broadcasting. Using the
profits from WGLI and by expanding our financial contacts, we

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