Tuesday, November 23, 2004

Janitor/Small Business Owner Leaves Millions to School

So as we complain about being broke and never having enough money (all the while spending, $75 a month on cell phones, $50 for cable, a hundred or so on fast food, etc.....), remember this gentleman who saved pennies at every turn...eventually ammassing 2.3 million befor ehe died, then leaving it all to a small college.

GREAT FALLS, Montana (AP) -- When Genesio Morlacci left $2.3 million to a small college here, many people were astonished at the wealth amassed by a man who operated a dry-cleaning shop and later worked as a part-time janitor in retirement.
But to those who knew Morlacci well, his bequest came as no surprise.

"He was a fellow who felt that if you didn't need it, you shouldn't buy it," said Joe Marra, his former attorney. Morlacci died last month at age 102. The University of Great Falls has announced that his endowment will generate roughly $100,000 a year for scholarships
Morlacci, a widower, did not have any children. He gave the college nearly all he saved through work, investments and old-fashioned thrift -- he was known to remove worn collars from his shirts, then sew them back on, with the frayed side down.
Morlacci believed the government and too many people spent beyond their means, Marra noted. "He was quite critical of the young people who needed, in his eyes, instant gratification,"