Sunk Costs Revisited or The Value of Trust

Transmission fluid on the floor
Transmission fluid in my underground parking spot.

Recently, I posted about some repairs to The Beast, my 2002 F150 pickup.

I used the story of a major repair followed by the need for a second major repair as an example of sunk costs and how to decide whether to keep spending or cut your losses.

The Beast now has a solid front end, a new (used) transmission, and runs beautifully.

Except that the transmission leaks.

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Ziglar

Back in the late ’90’s I went to a daylong event full of motivational speakers, marketers, health experts and some famous but not so profound individuals who were clearly there for their name recognition, not their content.

However most of the speakers were outstanding.

One of the highlights of the day was Zig Ziglar. I’d heard about him, but didn’t know much about his story or personality.

In addition to his famous pump story which I’ve linked above, he shared insights into relationships, forgiveness, success and faith.

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