Randall Terry and the furniture market
Randall Terry's immense fortune -- largely derived from the market -- could have been used to help save the market, David Perry of FurnitureToday writes in his online column.
Terry, part owner of the International Home Furnishings Market and the High Point Enterprise, died last year. He left behind the Randall Terry Charitable Foundation, which makes its most substantial contributions to the veterinary school at N.C. State University and Woodberry Forest School. Little goes to anything in High Point, where Terry lived most of his life and made his money.
My column last week about Terry produced lots of responses, mostly positive and some negative ...
A few readers berated me for attacking someone who's not around to defend himself.
I plead guilty to doing that, but I don't agree that the dead are beyond criticism for what they did in life. If others want to defend Terry or contend I was wrong about him, they're welcome to it.
I had many more responses from people whose views were similar to mine. A number of readers shared stories of their own unpleasant encounters. Someone who knew him well said he used to say, "I don't give money to poor people." (That makes Woodberry Forest a particularly good object of his charity. Seventy percent of students there are able to pay the $30,000+ annual cost of tuition, room and board.)
Others expressed sadness that Terry had such a poor relationship with his hometown and its residents. Some said they hope there will be a way that his fortune can be used to benefit High Point in some way in the future. Time will tell.
In a way, it is unfair to disparage Terry for what he did in life, now that he can't answer -- or change. If he were still alive, maybe he would respond to such criticism by re-evaluating his priorities.
That's what makes it unfortunate if his foundation must be forever guided by the restrictions he placed on it. That leaves no allowance for the possibility of change. Terry himself might have changed his mind and decided to favor High Point causes with his money. But it's too late.
I've been told by people I think are in a position to know that the assets of his foundation might grow to $130 million or more once the contents of his estate are added. That would include proceeds from the sale of Terry's half of the High Point Enterprise to Paxton Media and his holdings in the IHFC. What a vast amount of money.
High Point has many needs. An obvious need is to pour all available resources into strengthening and preserving the furniture market.
Randall Terry's money could help accomplish that, but it was, is and apparently forever will be unavailable.
Comments (1)
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I guess in terms of history's greatest villians Randall Terry falls somewhere in between Adolf Hitler and Darth Vader, Vader's redemption coming in the moments before his death, finally redeeming himself after wiping out nearly every Jedi who defended the Galaxy for ages against the dark side.
All jokes aside, I think the response to the Terry Column proves that many share an interest in this strange little man. The legacies of the dead matter, whether they can answer to them or not. We make judgements about historical figures all the time based on thier lifestyles, and good or bad. Terry chose to be a bigot and make his dogs richer than most of his hometown's residents. Whether he can defend himself or not is irrelevant, he made those decisions while he was living and -- barring an unforseen deal with Old Scratch -- I'm sure he suspected he would one day die.
I think he damn well knew what he was doing when he made those decisions and that he'd give his town a little something to talk about after he died.
Posted on September 7, 2005 10:46 AM