Word: bruggeman
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Dates: during 1960-1969
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...Will Be Boys. This unique bit of entrepreneurism was conceived eleven years ago by Jean-Pierre Bruggeman, 44, and Jean Thomachot, 39, then French wine merchants in Algeria. They discovered that there was more money to be made in casks for shipping than in the wine. Extending the idea, they founded an investment company called Algeco to buy up railroad tank cars at prices ranging from $7,000 to $26,000, then leased the cars to oil companies and skimmed off 20% of the revenue as a management fee. Today Algeco owns more than 8,000 tank cars that haul...
...Bruggeman believes that playing with trains has a deep appeal for men: "The investor extends his childhood dreams by first buying an oil car, then adding a liquid gas car, then one for chemicals, and finally an automobile transporter." Many multicar families among Algeco's 6,000 investors have their names engraved on the sides of their railroad cars and often appear at the company's offices off the Champs Elysees to check on the location of their cars. Co-Presidents Bruggeman and Thomachot encourage this personal interest by inviting visiting investors to "drop by for a whisky...
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