In the guest column today, Patrick McGinnis relates that his "friends Steve and Lance, sold business, equity-rich ....property, and now, after taking requisite down time to plot their next moves, both now run small businesses in town." (Bulletin, Sept. 21, 2007)

This kind of comment is made to me all the time. "Oh, I sold my house for a lot of money and started a business in Bend." As if it's a completely natural thing to do.

Here's what I hear.

"So you built that house way up on that cliff?"

"Why yes, isn't it wonderful?"

"May I ask? How do you get up there?"

"Why I flap my arms real hard and fly!"

"Well.....that's all right then."

They took their equity money and opened a small business. I thank them, the city of Bend thanks them. Now spend the money quickly, and learn to live like the rest of us.

Here's something to think about. Long term businesses in Bend, shops that have been around 15, 20, and 25 years are closing up, moving, selling, or completely changing focus. These are shops who have been around during the hard-times, and -- think about this -- have been around during the last few years of boom. And they are saying 'no more.'

If you have had a lifestyle that was such that you can sell out and have so much left over that you can move to a small town and open a business, I can almost guarantee you that what that small business brings in won't satisfy you.

If you are willing to live wisely, not spend money like you're in Silicon Valley, and adjust your aims downward, maybe you'll make it. Not by hiring a manager and five employees and buying every fixture new, and spending a fortune on upgrades. If you are willing to work you and your family, make a bit more than minimum wage, and cater to locals with small boosts from tourists, maybe you'll make it.

I just think that's a very hard transition to make. I'll tell you a secret. All those long-term businesses that are closing? They came in the waves of equity refugees in the 80's and 90's and their savings are gone and they're tired of working 60 hour weeks and their wife has finally put their foot down and said enough.

Look around you. There are a couple of hundred thousand residents in Deschutes County. Not millions. Tourism is helpful about 4 months out of the year. And the housing boom is over.

But thanks for bringing your money to Bend.