Profile of Success: Keeping His Head Above Water

CS: What’s the best thing about working for Doheny’s Water Warehouse?

JD: In today’s environment, having a debt-free business with a strong balance sheet and good profit margins allows us great flexibility. We’ve always run the business with a very strong spirit of growth along with financial discipline. I have good friends that took advantage of the credit markets and leveraged their businesses up with acquisitions and expansions. Today, that model doesn’t seem to be working, regardless of size. The cost of leverage is high and, in many cases, threatening the survival of some very good companies. Bigger isn’t always better. That seems to be the important lesson learned from the current crisis.