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Markets, projects don 't always work out in Boone Knox 's favor

B oone Knox didn't feel like going to work on July 21. So he stayed home.

After he discovered what had happened in his absence, he wished he had gone to his office near Thomson.

The problem: Another bad day on the stock market. He described the situation as having lost his rear-end.

Judy Whiddon, a longtime employee of his at Knox, Ltd. and Knox Foundation, kidded with Mr. Knox that he just might have to tell his wife, George-Ann, that he was going to have to start spending all of his time at the office. That included sleeping there and everything so he could keep a closer eye on business affairs.

"He's always been so lucky with the stock market," said Mrs. Whiddon. "He's just got that touch."

Realistically speaking, there are times when the market does well and sometimes when it hits bottom. July 21 would fit into that latter category.

"It was just one of those real bad days on the stock market," said Mr. Knox, noting he wasn't pleased about the results, but that it happens sometimes.

On a serious note, Mr. Knox watches closely what the stock market does everyday no matter if he's home, the office or out-of-town.

"He's always keeping track on that stock market," said another employee, Bobbie Crutchfield.

It's what has helped make Mr. Knox one of the most prominent, respected and successful businessmen in his home state of Georgia, as well as America.

Jim Alfriend, who has been a close friend of Mr. Knox for many years, shared another story that didn't turn out the way his friend had wanted. But Mr. Knox didn't get down and discouraged about it. Instead, he forged ahead with many other business projects that proved most profitable.

One major proposed project that didn't bear fruit was back in 2005 when Mr. Knox met with Warren Buffet about the purchase of land owned by International Paper Company, according to Mr. Alfriend. Mr. Knox, who had managed to secure $3 million for the project, was hoping he could persuade Mr. Buffet, one of the richest businessmen in the world, to invest another $3 million to make the deal.

"Boone told Mr. Buffet that he had a big biscuit, but he needed more syrup," said Mr. Alfriend, laughing while sharing the story with a reporter.

Unfortunately for Mr. Knox and his business associates, Mr. Buffet declined.

Even though that business proposition didn't pan out, dozens of other projects since have for Mr. Knox and business partners.

When it comes to such issues as the state of the nation's economy, Mr. Knox believes it's on the road to recovery.

"It's just ahead," predicted Mr. Knox during a Thursday, July 22, 2010 interview. "I'd say it's going to get much better in 2 to 2 1/2 years."

Asked what he believes it will take to make that prediction a reality, Mr. Knox replied, "We all need to keep working and go get 'em."

Web posted on Thursday, July 29, 2010

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