ð§ç±³åœèšŒåžåžå Žã®æ©ã¿ãšã賢人ããšåŒã°ããäŒèª¬ã®æè³å®¶ã®ååçâ¬
æšå¹Žå
¬éããèšäºã§ã¯æ ªåŒæè³ã®ç¥æ§ãŠã©ãŒã¬ã³ã»ããã§ããæ°ã®çãŸããåã®ç±³åœèšŒåžå²ãšããã©ã¹ã«å·ãç±³åœã®çµæžå²ã«ãããŠæ
ã£ãå°ççãªèŠçŽ ã解説ããŸããã
ä»åã¯ãã®ç¶ãããŠã©ãŒã¬ã³ã»ããã§ãããèªçããŠãã幌å°æãé幎æã®è©±ã§ãã
幌å°æ
åæ溢ããåã©ãæ代
ãã©ã³ã¹ã»ãŠã°ããŒç³»*ã®äž¡èŠªã®å ã§ããã©ã¹ã«å·ãªããã«çãŸãããŠã©ãŒã¬ã³ã»ãšãã¯ãŒãã»ããã§ããã
幌å°æã¯æ±ºããŠè£çŠã§ã¯ãªã家ã ã£ããšãããŠãããç¶ãã¯ãŒãã¯é«æ ¡æ代ããæ°èé éãªã©ãããŠå®¶èšãå©ãããšãããŠããŸãã
ãŠã©ãŒã¬ã³ã»ããã§ãã(以äžããŠã©ãŒã¬ã³)ã5æ³ã«ãªãé ãç¥ç¶ã¯ãªããã§å°ããªé£æåé貚åºãå¶ãã§ããŸããã
幌ããŠã©ãŒã¬ã³ã¯5æå ¥ãã®ãã¥ãŒã€ã³ã¬ã ãã°ã売ããããããå°é£ãã§6æ¬å ¥ãã®ã³ãŒã©ã25ã»ã³ãã§è³Œå ¥ããããã1æ¬5ã»ã³ãã§ã°ã売ãããŠå šãŠå£²ãåãã°20%ã®å©çãåŸãäºãèŠããŸãã
6æ³ã§èªãã®éè¡å£åº§ãéèšããããããã¹ã¢ãŒã«ããžãã¹ã§åŸããéãèªåã§ç®¡çããããã«ãªããŸãã
æ°åŠãåŸæã ã£ããšããæ¯ã®åœ±é¿ãããã幌ãé ããèšç®ãåŸæã ã£ããšãããŠã©ãŒã¬ã³ã
ãŸãå°åŠçã«äžãããšããããããŒã«ã®è©Šåã§ããŒãããããããã³ãŒã³ã売ããè¿æã®ãŽã«ãã³ãŒã¹ã«è¡ã£ãŠã¯æ± ã®äžã«å ¥ã£ãŠããŸã£ã沢山ã®èª°ãèŠåããããªããŽã«ãããŒã«ãçºèŠããŠããããæŸã£ãŠããã±ãŒãžã«ããŠå£²ããšããããšãå売ã«ããŠããŸããã
家èšãå©ããããã§ããèªåã®éã¶ãå°é£ãã皌ãããã§ããªãã圌ã¯å®¶æã§æ è¡ã«åºãããæã§ãããä»ã®æ è¡å®¢ã«ãèåãã»ãŒã«ã¹ããã»ã©ã®å ¥ã蟌ã¿ããã§ããã
11æ³ã®æã«ã¯éè¡é éã®æ®é«ã¯120ãŠã«éããããã¯åœæã®äžè¬ã®å€§äºº1ãæåã®çµŠäžã«å¹æµããé¡ã§å®¶æã®èª°ããé©ãããšãããŠããŸãã
ããæ¥ãæ¯ãããªããããªã«ãéã欲ããã®ïŒããšè³ªåãããš11æ³ã®åœŒã¯ããçããããã§ãã
圌ã«ãšã£ãŠããéãã¯ãèªç«ããæå³ããŠããããéãããã°äººçã§èªåã®ããããããšãåºæ¥ããšãã䟡å€èŠ³ãæ¢ã«æ ¹ä»ããŠããã®ã§ãã
ãŸãç¶èŠªã«é Œã¿ã競銬ã«é¢ããæžç±ãããŒã¿ãèªã¿æŒãããŸã 競銬æ°èã®ãªãã£ãæ代ã«ç«¶éŠ¬å Žã§ã¯æå銬ã®æ å ±ãæ²èŒããæ補ã®æ°èãçºè¡ããŠãã¢ã¡ãªã«æ幎å°ã®ç«¶éŠ¬äºæ³å±ã«ããªã£ããšãããŠããŸãã
äœäºã«ãç 究ã培åºãããŠã©ãŒã¬ã³ã®åç¹ãç¥ãããšãåºæ¥ã貎éãªãšããœãŒãã§ãããããããã®äºæ³ããžãã¹ã¯è²©å£²èš±å¯ãåŸãŠããªãã£ããšããŠçŠæ¢ãããŠããŸããŸãã
ãŸããå°é£ãã§ç«¶éŠ¬ãããéã«ã1æ¥1ã¬ãŒã¹ã ãã«åå ã
æŽã«è² ããã¬ãŒã¹ã«ã¯åå ããªãããšãä¿¡æ¡ãšããŠããŸããã
ããããŸã 幌ãã£ããŠã©ãŒã¬ã³å°å¹Žã¯è² ããæãããæŽã«ã¬ãŒã¹ã«åå ã
ããŒã¿ã«ã§175ãŠã®è² ããçµéšããææ
ã«é£²ãŸãããšãã¯ãªããšããªããšæã£ãããã§ãã
å°åŠçã«ãšã£ãŠæãã倧人ã«ãšã£ãŠãäžæåã®çµŠäžã«å¹æµãã倧éãäžæ¥ã§å€±ã£ããŠã©ãŒã¬ã³å°å¹ŽâŠãã»ã©æ²ããã®ãã以éã®åœŒã®äººçã§ç«¶éŠ¬ã®ãšããœãŒãã¯åºãŠããŸãã(ç¬)
ç¶ãåã«äžãã圱é¿
ãŠã©ãŒã¬ã³ã®ç¶ãã¯ãŒãã¯å°å ããã©ã¹ã«å€§åŠãåæ¥åŸããŠããªã³ã»ã¹ããŒãéè¡ã®èšŒåžä»²ä»æ¥ãšããŠå°±è·ãããã1929幎ã®äžçææ ã«ãã£ãŠã¢ã¡ãªã«ã¯ç¬¬äžæ¬¡äžç倧æŠã®æŠè²»ã«å¹æµããé¡ãæ ªåŒåžå Žã¯å€±ã£ãŠããŸããã
ãã¯ãŒãã¯èªããæè³ããŠããè³ç£ãä»äºã倱ã£ãå³ããç¶æ³ã®äžãäžçææ ã®æŽèœãå§ãŸã£ã10ãæåŸã«ããã§ããã¯èªçããŠããŸãã
ãã¯ãŒãã¯èªã蚌åžäŒç€Ÿãç«ã¡äžããã極端ãªãããã«è³ªçŽ ãªããæ¹ã§ããããçå®ã«åªåãããããšãä¿¡æ¡ãšããæ°å¹Žãããã§ããã§ãã家ã®ç掻氎æºãäžæµéçŽã«ãŸã§æŒãäžããäºã«æåããŸãã
幌å°æã®ãŠã©ãŒã¬ã³ã¯ãã®æ¥µè²§æ代ã®äž¡èŠªã®èŠåŽãšåªåãã姿ãèŠãŠè²ã¡ãŸãã
ãŸããã¯ãŒããé¡ãŸããªæè³ã»ã³ã¹ãæã£ãŠããŸãããåžå Žããã©ãã©ãšäžããç¶ããäžçææ åŸã®åžæ³ã§å®å šæ§ã®é«ãè³ç£ãäžå¿ã«é¡§å®¢ã®è³ç£ãéçšããªã¿ãŒã³ãçã¿åºããäŒç€Ÿã¯çå®ã«æé·ã
ãã¯ãŒãã¯ãã®æåã«çãããäºãªããå°éã«èšŒåžãããŒã«ãŒãšããŠä»äºãç¶ããå°åã®äººã ããã®ä¿¡é Œãåã¡åã£ãŠãããŸããã
1930幎代åœæã®ã¢ã¡ãªã«ã¯ã©ããç掻ã®èŠãã家åºãæ®ã©ã§ããããã¯ãŒãã¯å ã ç±å¿ãªå ±åå å¡(æ¯æè )ã§ããããã€ãã«ã¯ããã©ã¹ã«å·ã®äžé¢è°å¡éžæ*ã«ç«åè£ã
絶察çäžå©ãšããåè©å€ãèŠããŠåœéžããããæ©ã«èšŒåžäŒç€Ÿã®çµå¶ãããªãããæ¿æ²»å®¶ãšããŠã®å°äœãåºã3æ12幎ã«æž¡ã£ãŠè°å¡ãšããŠæŽ»èºããããšãããŠããŸãã
蚌åžæè³ãšã®åºäŒã
ç¶ãã¯ãŒãããŠã©ãŒã¬ã³èªèº«ã«äžãã圱é¿ã®äžã§æã倧ããªãã®ã¯äœãšèšã£ãŠããã¯ãŒãèªèº«ã®ä»äºã§ããã£ã蚌åžã«ã€ããŠãŠã©ãŒã¬ã³ã®é¢å¿ãåŒãåºããäºã§ãããã
åŸã«ãã€ã¿ãŒã®åæã«å¯Ÿããåã©ããã¡ãžã®ã¢ããã€ã¹ãšããŠéèæè²ã®éèŠæ§ãèªãäžã§ã次ã®ããã«èªã£ãŠããŸãã
ãŠã©ãŒã¬ã³ã¯10æ³ã®é ã«ç¶ã®ä»äºã«ä»ããŠããããã¥ãŒãšãŒã¯èšŒåžååŒæ(NYSE)ãèŠåŠããããšããã£ããã«ç¶ã®è·å Ž(蚌åžäŒç€Ÿ)ã«åºå ¥ãããããã«ãªããŸãã
ãŠã©ãŒã¬ã³å°å¹Žã¯æ ªåžãåµåžã楜ãããã«èŠã€ããé»æ¿ã«æ ªäŸ¡ã次ã ã«æŽæ°ãããŠè¡ãã®ãèŠãŠèå³ãæã¡ãèªå® ã§ã¯èªåãªãã«æ ªäŸ¡ãã£ãŒããã€ããäœãé ããããã¿ãŒã³ãããã®ã§ã¯ãªãããšèããã®ãæ¥èª²ã ã£ããšãããŠããŸãã
ãŸãã§ã¢ã€ã³ã·ã¥ã¿ã€ã³ãç¶èŠªããããã£ãæ¹äœç£ç³ãæã«ããªãäžå®ã®æ¹è§ãæãã®ãïŒããšèãç¶ããŠãããšããœãŒãã«ã䌌ãŠãã話ã§ããã
å°åŠ5幎çã®æã«ã¯ãäžç幎éããèªã¿æŒããç±³åœã®ã¿ãªããäžçã®äž»èŠéœåžã®äººå£ãå šãŠæèšããŠãããšãããŠããŸãã
圌ã¯11æ³ã®æã«å§ããªã¹ãšäžç·ã«ãå°é£ããéãåããŠã®æ ªåŒæè³ã«ææŠããŸãã
çµå±èªåãã¡ã§äŒæ¥ãçµã蟌ãããšã¯ã§ããç¶ãã¯ãŒãã«éæãéžå®ããŠãããããäŒæ¥ã®æ ªåŒã1æ ª38ãŠã§3æ ªè³Œå
¥ã
ãããæ ªäŸ¡ã¯ååŸçŽåŸããäžèœãå§ãã27ãŠãŸã§å€äžããâŠ
ãã®æ代ã¯æ¢ã«è§Šãããšãã1929幎ã«å§ãŸã£ãäžçææ ã®åªäžã«ãããNYããŠå·¥æ¥å¹³åã¯ãã©ãã©ãšäžããç¶ã1932幎7æ8æ¥ãŸã§ã«9å²ãäžèœãæŽèœåã®å ã®æ°Žæºã«æ»ã£ãã®ã¯1954幎ãŸã§ããããŸããã
åœç¶ãªããç¶ãã¯ãŒãã®èšŒåžäŒç€Ÿã顧客ã®è³ç£ã倧ããè²ããªããã°å€§ããå²ããäºãã§ããªãããã«ã倧å²ããšãŸã§ã¯è¡ã£ãŠããªãè»èª¿ãªææã§ããã
ãã以äžäžãã£ãã倧å€ã ãšæãã£ãå§ããªã¹ãèŠãŠããŠã©ãŒã¬ã³ã¯1æ ª40ãŠã«äŸ¡æ Œãæã¡çŽããŸã§æ ªåžãæ¡ã£ãŠé ããŠãããšãããŸãã
ããããŠã©ãŒã¬ã³å°å¹Žãã¡ã売åŽããããã®æ°å¹ŽåŸããã®æè³ãããäŒç€Ÿã¯æ ªäŸ¡ã1æ ª200ãŠãŸã§äžããŠããŸããã
ãŠã©ãŒã¬ã³ã¯ãã®æã«ãæ ªåŒæè³ã«ã¯å¿èãå¿ èŠã ããšãåŸã«äžçã®è²¡ç£ãåŸããšæ¯ãè¿ããç¶ããæãããããã®é ã®çµéšãèªãã®äººçã®3ã€ã®æèš(5ã€ã®æèš)ãåŠãã ãšèªã£ãŠããŸãã
ãŸããŠã©ãŒã¬ã³ã¯é«æ ¡ã®åæ¥ã¢ã«ãã ã®èªåã®åçã®äžã«ãæ ªåŒãããŒã«ãŒå¿æããšæžãæ®ããŠãããç¶ã®åœ±é¿ããããŠ11æ³ã®æã«å§ããæ ªåŒæè³ãžã®åŒ·çãªå°è±¡ãæ§ã ãªããžãã¹ãéããŠããå ·äœçã«èšããã§ããã®ãããããŸããã
åææã®åç
12æ³ã®æã«ç¶ãäžé¢è°å¡(å ±åå )ã«åœéžãããã家æã¯ã¯ã·ã³ãã³D.C.ãžåŒã£è¶ããŸããããŠã©ãŒã¬ã³ã¯æ°ããè¡ã§ã®æ®ããã«éŠŽæããããªããã«æ»ã£ãŠç¥ç¶ã®å®¶ããäžåŠ2幎ãŸã§éããŸãã
äžåŠã§ã¯é£ã³çŽãããŸããã1åŠå¹Žäžã®çåŸãšã¯éŠŽæãããäžè¯ä»²éãšã€ããã§ã¹ããŒãçšååºã§çªçãç¹°ãè¿ãããäžåŒããæŸé¡ã ã£ãã(äžç¥)ãŽã«ãããŒã«ã¯äœçŸåãçãã ããšèªäŒã§æ¯ãè¿ã£ãŠããŸãã
ç¶ã¯æ¯åã®çŽ è¡ã®æªããåã«å±ãã€ããããšã¯ãããããŸãã«ç®ã«äœãè¡çºã ã£ãæã«ã¯ããã®ãŸãŸãªãäžçªå¥œããªéå²ããçŠæ¢ããããšã ãèšããŸããã
圌ã¯ç¶ã®ãã®å¿ åã«ãããã¯ãããªããããã¯ãããªããšèšããããããã£ãšãç§ã«ã¯å ªããããšæ¯ãè¿ã£ãŠããŸãã
æãåã®ããšãããç解ããŠããå¿ åã§ãã(ç¬)
æ·±ãåçãããŠã©ãŒã¬ã³ã¯æ°èé éã®ã¢ã«ãã€ããç¶ãã13æ³ã§æåŸçšãç³åããŠä»äºã«å¿ èŠã ãšèªè»¢è»ãçµè²»æ§é€ã圌ã¯ãã®åŸãæ°ã ã®ã¹ã¢ãŒã«ããžãã¹ãåŠçæ代ã«ç«ã¡äžããŸãã
ã¹ã¢ãŒã«ããžãã¹ã§ã®æå
ãã®èšäºãæ°ã«å ¥ã£ãããããã§å¿æŽããŠã¿ãŸãããïŒ