David Oreck Talks Bankruptcy And Book
“The things I saw that they were doing, I felt, were alarming,” New Orleans businessman David Oreck told WGNO News from his downtown office on Wednesday.
Oreck was referring to the people who now run the vacuum cleaner company that he founded then sold ten years ago. Oreck said the company, which is now in bankruptcy, was financially solid when he sold it to the group of investors.
“They proceeded to change almost all the things that had made it successful.”
Oreck is concerned, understandably, because the company still carries his name even though he is no longer its owner. But he says he worries more about Oreck’s employees, some who worked for him.
At 90-years-old, Oreck also has a new book out titled From Dust To Diamonds. He says it contains important information for anyone who owns a business.
Oreck encourages business owners to follow rules like — price is the last consideration, control your distribution or it will control you, and know who your customer is.
“And you say what happened to common sense? It’s an oxymoron. It should be called uncommon sense.”
Oreck grew up in Minnesota. His business savvy is shaped by his experiences in the Great Depression and World War II when he served as a crew member aboard a B-29 bomber in the Pacific.
“Where I come from, a holiday was when you wore a sport shirt to the office.”
Since selling his vacuum cleaner company a decade ago, Oreck has gotten into the candle, burglar alarm, medical alert, and security vault businesses. He also collects vintage airplanes that he keeps in a hangar in Mississippi and continues to pilot himself.
Oreck says he has no plans to retire. In fact, he says he’s very much opposed to it.
“At this stage in my life, at age 90, people say what do you look forward to? I say tomorrow.”