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Old 11-10-2009, 11:58 AM
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Location: Ohio
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Quote:
Originally Posted by wCat View Post
Not sure why they are SOB's or "characters" because they have money.
Maybe SOBs = Smart Old Billionaires ?
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Old 11-10-2009, 12:04 PM
 
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Originally Posted by Bowie View Post
Maybe SOBs = Smart Old Billionaires ?
I'll give them that!
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Old 11-10-2009, 12:09 PM
 
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Quote:
Originally Posted by RGJ View Post
There are a few "vacation" homes(mostly in Terrell Hills, Olmos Park, AH) in San Antonio owned by trust funds from wealthy families whose main residence is other places than San Antonio....
Kit Goldsbury owns a whole city block in Alamo Heights. It's truly what you would call a compound. You cannot see his home from the street at any direction. That is definitely his home.

Same with Red and Lowry Mays in Olmos Park. These are their "homesteads". I don't know about the others personally without researching on BCAD. If anyone really is interested, look for the "HS" exemption on their property records.
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Old 11-10-2009, 12:12 PM
 
Location: South Central Texas
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I've worked for some of the wealthy here. Many retain that wealth by avoiding taxes as much as possible. Constantly shifting ownership of properties amongst other family members or entities. Multiple accounts for this and that expenditures. This is .. as much a part of their wealth creation and maintenance as their businesses. There are Coca Cola , concrete and real estate and Oil heirs here. I couldn't say if they're quite Billionaires.
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Old 11-10-2009, 07:45 PM
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I worked for Kit Goldsbury back in the mid 80s at the old Pace Picante factory off I-35 just north of downtown. It was a side job while I was attending TU...he had me doing some marketing mailouts to different companies sending samples of the picante sauce and the salad dressing they were trying to make household names. Can't remember the name of the salad dressing now but it's no more...their poppyseed flavor was really good though.
IIRC, his wife was the daughter of the original founder of Pace Picante..Linda Pace..but I'm not sure how he ended up with control of the company and the one with all the billions but I heard he did sell it to Campbell's in the mid 90s so maybe that's how!! Anyway, I remember him being a nice guy to me but the factory seemed so chaotic and haphazardly run at that time.
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Old 11-11-2009, 07:56 AM
RGJ
 
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The original owner, David Pace, retired in the late seventies and turned it over(sold?) to the Goldsburys'. I believe Kit Goldsbury ended up with control of company after paying Linda Pace several millions in a divorce settlement before it was sold to Campbell for 1 billion +/-.
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Old 11-11-2009, 08:32 AM
 
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Quote:
Originally Posted by RGJ View Post
The original owner, David Pace, retired in the late seventies and turned it over(sold?) to the Goldsburys'. I believe Kit Goldsbury ended up with control of company after paying Linda Pace several millions in a divorce settlement before it was sold to Campbell for 1 billion +/-.
There was an extensive article several years ago about Kit Goldsbury. I think it was in Forbes. Sadly, the article painted a terrible picture of him. He's a very low key, wonderful man, but a very smart businessman and can be very shrewd. It takes guts to take risks and make money. He certainly has that.

I personally don't want to talk about his private life, but I'll mention what was published. His inlaws started and grew Pace from the ground up. They divorced and in the settlement, David Pace gave up the picante business to Margaret Pace. She kept Kit in the picture to run the company. When she passed away, Kit and his wife, Linda Pace inherited the whole thing. When they divorced they came to an amicable settlement and Kit got the company with Linda's blessings. Before Linda passed away, Brilliant magazine did a wonderful story about Linda. She was very outspoken about Kit's critics about selling to Campbell's. She had no remorse or ill feelings about his move to sell. They continued an amicable relationship until Linda passed away not that long ago. Kit's life may be blessed financially, but he has suffered through many personal tragedies that most people can't even fathom. In a nut shell, he has a LOT of class and dignity. The way he has handled the fortune and personal loss has shown that he is a man of strong character and integrity. I respect his right to privacy because he has never sought the limelight to promote "Kit". He has other things at the top of his list.....mainly his family.
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Old 11-11-2009, 09:07 AM
RGJ
 
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Quote:
Originally Posted by wCat View Post
There was an extensive article several years ago about Kit Goldsbury. I think it was in Forbes. Sadly, the article painted a terrible picture of him. He's a very low key, wonderful man, but a very smart businessman and can be very shrewd. It takes guts to take risks and make money. He certainly has that.

I personally don't want to talk about his private life, but I'll mention what was published. His inlaws started and grew Pace from the ground up. They divorced and in the settlement, David Pace gave up the picante business to Margaret Pace. She kept Kit in the picture to run the company. When she passed away, Kit and his wife, Linda Pace inherited the whole thing. When they divorced they came to an amicable settlement and Kit got the company with Linda's blessings. Before Linda passed away, Brilliant magazine did a wonderful story about Linda. She was very outspoken about Kit's critics about selling to Campbell's. She had no remorse or ill feelings about his move to sell. They continued an amicable relationship until Linda passed away not that long ago. Kit's life may be blessed financially, but he has suffered through many personal tragedies that most people can't even fathom. In a nut shell, he has a LOT of class and dignity. The way he has handled the fortune and personal loss has shown that he is a man of strong character and integrity. I respect his right to privacy because he has never sought the limelight to promote "Kit". He has other things at the top of his list.....mainly his family.
By no means, did I intend to slight the man.
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Old 11-11-2009, 12:27 PM
 
Location: Dallas, TX
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Quote:
Originally Posted by wCat View Post
Not sure why they are SOB's or "characters" because they have money.
Because envy will always be alive and strong, unfortunately.
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Old 11-12-2009, 10:10 AM
 
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Quote:
Originally Posted by RGJ View Post
By no means, did I intend to slight the man.
No. I didn't suggest that you did. I was just giving a bit more detail about the evolution of Kit Goldsbury becoming an billionaire. The main correction was that David Pace did not hand over the company to him.

Actually, the article indicated that David Pace had some personal objections to Kit running the company. When he settled with Margaret Pace, he did so with one stipulation...that Kit NOT be in charge. She agreed. Once the company belonged to her completely, she tossed that out the window. She was one very smart business woman herself and trusted Kit implicitly. Very smart move on her part.
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