December 20, 2016
I’ll never forget the day when Sandra* told me this story about her son, Luke*:
Luke was sitting alone in a long hallway. He was hunched forward in his wheelchair, apparently sleeping.
Sandra scanned the white-walled hallway of the state institution. It was empty, except for her son. She was thankful he was strapped into his wheelchair, otherwise he would have fallen onto the cold tile floor as he slept.
How long had he been there alone?
Her visit was unannounced and she waited for someone to come. Minute after minute passed as tears of sadness, then anger, began to stream down her cheeks.
How long had he been there alone?
There would be no way of ever knowing. Luke suffered from cerebral palsy. He couldn’t speak. And he couldn’t move, his body ravaged and nearly completely paralyzed from his disease.
How long would they have left him there alone?
I tired to imagine what it would be like to be abandoned and forgotten like that – to be unable to move or cry out for help.
Sandra made a promise that day that this would never again happen to her son. She searched for a long time to find the safe haven of Mountain Shadows. Her son lived and thrived in our community for many years. As I look back over those years, I often wonder what would have happened if Sandra hadn’t made that visit and found Luke alone in that hallway? And what if, over the ensuing years, she hadn’t taken actions to make good on her promise?
I know Sandra well enough to say that she doesn’t think she did anything special. She just did what any mother would do for her son. In the movie classic, It’s a Wonderful Life, Clarence, a bumbling angel who is trying to earn his wings, shows George, an ordinary but disillusioned man, how his life has touched the lives of so many others. He shows George that if he hadn’t lived, performing small acts, that seemed to him to be nothing special, it would have left an “awful hole” in the fabric of his community, Bedford Falls.
I believe there is something of George in all of us. And that our Mountain Shadows community is not so different from Bedford Falls.
Like George (and Sandra) many of you may believe you haven’t really done anything special. But, as I look back over the years, I have seen the tremendous impact that you, our supporters, have made – of how many lives have been touched by your actions.
While Luke is no longer with us (we have it on good authority that he is well on his way to earning his angel wings), thanks to your acts, both big and small, Luke was never left helpless and alone again – and the more than 300 disabled individuals we serve, live better, more fulfilling lives imbued with hope and possibility.
Thanks to you, and those featured in the story ( Bel Air Investment Advisors: Where Bonds and Angels Meet) below, each of our residents, and our entire Mountain Shadows family, can truly say, “It’s a wonderful life.”
And in the spirit of the classic tale I say to you all: Hee Haw – Happy Holidays!
Wade Wilde
Executive Director/CFO
Mountain Shadows Support Group
Mountain Shadows Ancillary Services
Mountain Shadows Foundation
*Names changed
Bel Air Investment Advisors: Where Bonds and Angels Meet
By: Sheryl Wilde
Shhhhhhhh – Did you hear that sound?
Ding … ding … ding …
Bells are ringing!
And that can mean only one thing, because as they say in It’s a Wonderful Life, “Everytime a bell rings, an angel gets his wings.”
While some may not equate investments with angels, we believe that the good folks at Bel Air Investment Advisors just may be heaven-sent.
As many of you may know, Mountain Shadows embarked on a major refinancing project in 2016. A financial restructuring was needed to lower interest payments and free up funds for desperately needed capital improvement projects, which had been put on hold since the 2008 Medi-Cal rate freeze.
In order to do this, Mountain Shadows partnered with the California Statewide Communities Development Authority (CSCDA) and Cain Brothers, the underwriter, to issue $13,240,000 in AA-rated insured tax-exempt and taxable bonds.
“Cain Brothers, a major investment bank focusing exclusively on meeting the financing needs of healthcare organizations, was instrumental in helping us structure the bond issue,” says Wade Wilde, Executive Director, Mountain Shadows. “Then, fortuitously, along came Jack Suzar and Barry HoAire from Bel Air Investment
Advisors, already loyal supporters of Mountain Shadows, to participate in the bond offering.”
“Bel Air Investment Advisors has been a Mountain Shadows Golf Tournament Sponsor for the last few years,” adds Steve Cassidy, Chair, Mountain Shadows Support Group. “Both Jack and Barry have also participated in the tournament.”
“When the deal was brought to Cain Brothers, they contacted Barry, our Fixed Income Portfolio Manager, and asked if we were interested in participating with the deal,” says Jack. “Barry did the research. Knowing Mountain Shadows and what the money would be used for, we said yes!
“Bel Air Investment Advisors is committed to helping wherever we can. We are encouraged to be personally and financially involved in our community. We give generously. We aim to improve lives and help people who can’t do it themselves.”
Jack joined Bel Air Investment Advisors in 1999, after more than 32 years consulting and advising clients on tax and investment strategies at BDO Seidman in Los Angeles.
He has long been active in civic and charitable organizations and was Chair of the Board of Directors of City of Hope National Medical Center and the Beckman Research Institute.
Barry joined Bel Air Investment Advisors in 2013. Previous to Bel Air, he was senior portfolio manager in New York for Western Asset Management. He is active as a volunteer in the Special Olympics.
“We are impressed by the purpose of Mountain Shadows,” says Jack. “There is a need for an organization like Mountain Shadows in the community. We know Mountain Shadows is a strong organization. They do things the right way. In fact, we are so certain of the strength of Mountain Shadows that when the bonds came to market, we purchased them! We purchased roughly 25% of the issue. We put in for more, but got cut back.”
Says Steve, “Jack and Barry understand our Mountain Shadows values. Bel Air did due diligence and identified this bond issue as a good investment opportunity. They understood our organization and the work we do. Bel Air, being a strong player in the industry, helped build confidence and credibility in the marketplace. The bonds sold above asking price and we received better interest rates because of Bel Air’s confidence in us. This has put Mountain Shadows in a position of success. Bel Air’s relationship with us has transformed into a financially beneficial opportunity for Mountain Shadows and the clients of Bel Air Investment Advisors.
Adds Fred Lindahl, Development Director, Mountain Shadows Foundation, “Jack and Barry did all of this on their own. We didn’t ask them to do it. They saw the services we provide, they did the research. They didn’t recommend us simply because we’re friends or because of our relationship. They are dealing with major investors and millions of dollars. They looked at us and did their due diligence. They saw it was a good investment opportunity and that Mountain Shadows is a viable organization. They saw we are financially solid and that we do good work.
“They have secured the future of all those we serve. As in It’s a Wonderful Life , I don’t think Jack and Barry think of the impact of what they’ve done. They believe they did a simple thing by saying Mountain Shadows is a good organization.
“But as Clarence, the angel, showed in the movie, their actions have helped us in immeasurable ways. Because of this simple blessing from them, because of Bel Air Investment Advisors’ reputation in the industry, they have helped secure the future for the more than 300 disabled individuals we serve. In fact, their actions have not only impacted 300 persons at 30 sites, they’ve also impacted our more than 500 employees – and the circle expands by affecting our local community with housing and employment opportunities and on and on. Without their help, I’m not sure this bond issue would have happened.”
“Each man’s life touches so many other lives. When he isn’t around he leaves an awful hole, doesn’t he?” ~ Clarence, Angel 2nd Class, It’s a Wonderful Life
Ding … ding … ding …
We hear bells ringing!
We’d say Jack and Barry just earned their wings.
And, yes, it is truly a wonderful life.