Business management guru Peter Drucker once likened trying to predict the future to driving down a country road at night with no lights. Investing in a business can feel like such a journey as the successful investor tries to maneuver around unseen obstacles. One thing that cannot be foreseen or steered around, however, is a court’s unprincipled ruling.
This is what happened to the Love Terminal Partners investors who operated the Lemmon Avenue Terminal at the Dallas Love Field Airport. These investors poured $17 million into constructing a six-gate facility, separate from the main airport terminal. They never realized an annual net profit, but remained optimistic. They continued to put money into their property and to make regular lease payments to the City of Dallas because they were confident of the eventual value of their investment.