FEAR AND LOATHING ON SECOND AVENUE

Storm clouds gather over Yorkshire Towers

Graciela Levi Castillo was Dad’s wife no. 3 – and my first stepmother.  Their marriage was very short, from January 1963 until January 1965.  Only a few memories of her remain intact from the summer of 1964.  You see, in 1963, my folks had just split up and had not yet worked out all the details.  Dad even came down with Graciela to see me in Orlando once or twice.  My Mom tells me she was very gracious with Graciela during those visits; still, it had to have been somewhat awkward with both parents parading their new spouses in front of the other.

What I remember most about Graciela was that she was as kind to me as she was garrulous.  Meaning, she was very, very kind!

In order to start his life anew with Graciela, Dad quit his apartment at 1050 Fifth Avenue (that he had shared with my Mom) and they moved into Yorkshire Towers, 305 East 86th Street, an immense white brick postwar building on the northeast corner of Second Avenue (see above picture).  As a newly completed building in 1964, deals were always available to new tenants willing to move in during construction.  Dad found such kind of bargains to be irresistible.  The new apartment had much of the same furniture as previously with my Mom, so it had an air of familiarity about it. 

PAN AM TO LONDON IN 1969

I took my first business trip with Olcott International in 1969. Of course, it wasn’t really a business trip as I was only a kid, 11 years old. But it was for my Dad. I tagged along and was on the periphery of a proposed merger of his operation with the patent renewal portfolio of one of Europe’s (and the world’s) largest law firms.

The latter part of the 1960s found me in elementary schools in Orlando, Florida during the school year and then back in New York City with Dad during the summers. Nine months of fourth grade to a kid seems to last at least 500 years with 11 months tagged on. For grades K through 4, I attended Cathedral School near Lake Eola in downtown Orlando in a building that must have looked old during the Roosevelt administration. During the interminable period between September and June every year, I was bored witless. But Dad kept my attention, even when I was far away from him.

THE NEW BUSINESS OF PATENT ANNUITIES

Above: Lincoln’s Inn as seen from Lincoln’s Inn Fields, London.

Up for today is my Harvard Business School (“the charm school on the Charles”) case study about the industry my Dad created — international patent renewals!

As the 1960s progressed, Dad’s new business quickly subsumed his “normal” patent practice. He did keep working for some select inventors who intrigued him but spent most of his time promoting his new renewal business as a modern, computerized clerical operation.

Corporate patent owners were delighted and sought him out.  On the other hand, foreign patent law firms worldwide were scandalized! The renewal work for them was heretofore easy money; it was a simple annual reminder operation that brought in huge fees for little work. They accused Dad of skimming the cream off their businesses. Many fought back, in some cases by petitioning their local patent offices NOT to accept such payment schedules sent in from foreign offices in New York. However, some savvy patent law offices quietly became clients, preferring to take advantage of the lower fees and passing them along to their clients to curry favor.