12 August 2010

Grandpa Gibson the "Millionaire"

From the September 17, 1942 edition of the Tucson Daily Citizen --

-- According to this website if you adjust for inflation, $75,000 in 1942 is the equivalent to $1,044,914.52 today in 2010.  My grandfather Bruce Gibson (1902-1994) was making "in excess" of an annual equivalent salary of over a million dollars.  But less than a year later after this article appeared, he declared bankruptcy.  My aunt, his eldest daughter, and I obtained his bankruptcy papers from the National Archives and we cannot find any clue "why" he went bankrupt. The search continues.

What we do know is he moved his family to northern California and worked very hard to restore his family to financial security.  And he was successful at it!  The family was the epitome of middle class for the decades to follow.

Copyright © 2010 by Kevin W. Walker

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