The multimillionaire developer had a long track record with a number of large resort properties. He figured that when he hired a Fortune 500 hotel chain to manage his latest development he would be freeing himself up to do what he did best -- building and creating -- while they did what they did best: Making a profit.
He was right, sort of. He did find time to focus on the next big project. And the hotel chain did start making money. The only problem was, as he discovered when he did a yearend audit, their idea of a profit center was him. They were billing everything they could -- services, repairs, and many unexplained items -- to his side of the partnership.
For his next project, the developer learned his lesson. He hired an overseer -- someone to manage his assets on site, in real time.
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