Word: clinte
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...excitement of the risk and the satisfaction of pulling off a deal. And with an almost Calvinistic compulsion, they all drove themselves to work, work, work-even after they had made more money than they could ever personally use. "We are obligated to do something useful," says Clint Murchison Jr., "and the most useful thing I can do is be in business. The most important thing about money is as a measure of your value in the economy...
Once, That's All. John and Clint Murchison had some early trouble establishing their value. John got stuck in an unprofitable timber investment in the Northwest, lost millions in mining uranium. Clint Jr. plunged into a residential deal in Dallas on which old Clint figured a smart operator could have made a million. Clint Jr. lost half a million. Said old Clint: "You can afford to go broke once, but that...
...warning stuck. By using credit as their father had taught them, the boys recouped their losses and began to expand their holdings. Perhaps the most spectacular performance was Clint Jr.'s purchase of the City Construction Co., a Dallas road-paving outfit. He put up only $20,000 in cash to buy the company, met the rest of the price with an $80,000 promissory note. Then he borrowed to buy up other companies, moved into highway construction, dam building, land development and heavy construction by using his growing combines as collateral against each new acquisition. Gradually his original...
Coming & Going. In the early 1950s, now confident of the boys' business abilities. Clint Sr. gradually turned over to them a loose entity called Murchison Brothers, which he had set up in 1942. In one shrewd deal after another, the brothers proceeded to acquire or build up housing projects from Florida to Los Angeles, construction-material companies in a dozen cities, land developments all across the U.S., two water systems, several insurance companies and a corralful of other properties. Not content with making the building supplies for the houses they construct, they build the roads and the streets over...
...Porsche 1600 (one of three family cars), but prefers to travel in a Beechcraft Twin Bonanza that he pilots himself. To house it, he built a private airport two miles from his home -and, finding enough plane-owning neighbors around him, inevitably turned the airstrip into a profitable investment. Clint Jr. lives more modestly for the moment. He, his wife and four children have a three-bedroom house in an upper-middle-class Dallas neighborhood-but that is only because it has taken him seven years (and another to go) to finish his dream house. A huge ranch house...