Ever wonder how much capital is required to run and grow multiple waterparks and piers? Join Jim as he recalls the milestones that shaped his tenure as CFO of The Morey Organization, one of the country’s leading waterpark and pier companies, based in Wildwood, New Jersey.
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Key Metrics
“This business is highly capital-intensive and is probably as capital-intensive as a manufacturing concern. So return on assets is very important, and making certain that all assets are employed in a productive way is a priority.”
Outward-Facing
“I’m finding myself more and more at the state capital testifying at state hearings to advance a pro-business view when it comes to a lot of the legislative decisions that are being made. … If I look back 10 years, I didn’t spend nearly as much of my time on these types of things. … I would say that I am now spending 50 percent of my time in this area.”
Mentoring Round
“The technical skills are very important, but the CFO role today is really about insight and looking forward. … We are internal consultants, and we have to look upon ourselves as such and be relied upon to provide really solid advice. My job is to come up with solutions.”
Book Pick
Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage
Interview Links
- Jim’s Site
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