And he did, exhibiting the one ingredient above all others that binds
successful people: persistence. It is a characteristic shared by über
achievers and leaders. Driven by an indomitable spirit, successful
entrepreneurs never give up on their dreams of building something great.
There is no impediment too daunting. This unflagging attribute is the
secret sauce that takes potential to success and beyond. My son-in-law
recently received a promotion at his company for his sales performance.
In lauding his efforts, management referenced a sticker behind his desk
that simply reads, “Never, never, never give up.”
didn’t. Ultimately, 7 million merchants large and small joined him in a
consolidated class action suit that was settled in a Brooklyn federal
court. The result: Business owners who file claims under the settlement
are expected to generate recoveries of between 30 percent and 40 percent
of their total fees paid in a typical year to the card companies.
Merchants who qualify will be paid from an escrow account with $6.05
billion set up by the card networks as part of the deal announced last
month. Equally important, say Goldstone’s attorneys, “This settlement
gives small retailers the freedom to experiment” with how much they
charge consumers for using credit cards versus cash to buy a product or
Goldstone, 49, and his business partner are not
waiting for the settlement to get final approval later this year from
the court. He has already instituted a price reduction of 2 percent for
consumers in anticipation that his credit card fees will now go down.
It’s in his DNA to be out front and set the standard.
merchants and consumers to walk away winners in this,” he says.
“Business is about all sides in the transaction winning. I won’t quit
until that happens.”