Page 43 - My Memoirs - Max Kurz

When the economy took a downturn, the joint venture group wanted to liquidate their interest even if it meant selling at a loss. They could afford the loss, due to their financial positions and previous track record of successful projects. I could not afford the loss; this was my first direct investment. I tried to convince them to complete the project on the basis that, if sales did not eventuate, we could lease the units to cover costs until the market turned. They were not interested, they just wanted out with no concern other than their own personal positions. I stood to lose a lot of money at a time that I could least afford it. I was devasted, it took its toll on me personally and emotionally, I was not prepared for those events and again found myself all alone with nobody to turn to for help or guidance. At the same time, my real estate business was under stress with sales declining and my partner Sid Steen wanted to cut costs including the staff reduction of my in-laws Mark and Elsa. I took exception to his proposal, which in hindsight was probably right considering what we were faced with, however I was viewing this from a personal perspective and not commercially. I rejected the proposal which resulted in an ultimatum either I accept the proposal, or we terminate the partnership. Talk about pressure coming from all sides; it was about the worst moment of my life; my marriage, my business, my finances all at risk.
I made the decision to terminate the partnership with Sid Steen. Mark and another employee Doreen Kerr who were terminated wanted to continue in real estate, so I agreed to act as licensee with the proviso that they had to complete their license course asap and be able to continue independently.
My marriage was over, we went about the divorce proceedings in a very civil manner with our children and our personal feelings at the forefront of our thoughts. However, you can never be prepared for the outcome emotionally, only time can reveal the true consequences of decisions made and its impact. In hindsight it can be said that we were all affected both negatively and positively. We did not escape the scarring and psychological suffering, each of us in our own way. For me to comment on each of our personal experiences would not be appropriate, it is a matter of interpretation and would be wrong, it can only be said by the individual personally. That said, history has it that today we are happy to have two adult children who are now both parents of whom we could not be prouder. They, as parents who have lived a life experiencing turmoil, disruption, personal challenges, and health issues, have turned out as responsible, respectful,
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