Thursday, September 18, 2008

Take his money and give it to someone else?

This is an example of the type of person that some have been ranting about for years, as those who have been receiving unwarranted tax breaks – the so called "richest Americans". 
Can you imagine Biden , Obama, Pelosi, Dodd, Rangle, Schumer, or any other politician (even Bush, McCain, Giulianni, or Ron Paul) getting as much bang for the buck in terms of energizing the economy, creating jobs, and building wealth for others, by taking his money and then having the government attempting to multiply the loaves and fishes as he did?  I can’t. 
I also can’t imagine this story happening in most other countries….here's a great report from Forbes
 The Forbes 400
Emily Lambert 10.06.08
After making a fortune in printing, perennial tinkerer Glen Taylor stumbled into the egg business. Whatever turns a dollar.

Glen Taylor likes businesses with problems, and he seems to fall into them serendipitously. Nine years ago, for example, he received a letter from someone he'd sold land to: Michael Gidley, a frustrated pullet farm manager who wanted to start an egg company and needed a backer. Taylor--who owns quite a bit of real estate in rural north central Iowa, where he is a minor celebrity--had made his mark in specialty printing. But he was intrigued, especially by his quick insight that a little investment in new technology could make a big difference in an inefficient business. So he briefly met Gidley's prospective partners, a father-son combo who were second- and third-generation egg men. "Where'd you grow up, what have you been doing, where did you go to school? What are you about?" he asked, recalls the son, David Rettig. That led to another meeting, and soon Taylor put down $35 million on Rembrandt Enterprises. Today the privately run egg company does $100 million in sales. The Rettigs run the whole shebang; Gidley heads up a division. Taylor is content to own 95% of it--and tinker at the margins.
Forty-nine years of curiosity tempered by practicality have led him to challenges in corn and soybean farming, graphics, professional basketball and, most recently, med tech. Today, at age 67, Taylor is worth an estimated $3.3 billion. What drives him to knotty predicaments? "Maybe it's the uniqueness of it, the people. It's hard to tell you why," says Taylor, who is amused by managing 7 million layers at a distance. "Maybe it's the timing."
Read the rest of the story about how he's built wealth for himself and so many others, here.... 


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