Word: entrepreneur
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Dates: during 1970-1979
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...Hara, 40, is a former Olympic volleyball player (1964) and a veteran professional sport entrepreneur. He was a financial adviser and founder of both the American Basketball Association and the World Hockey Association, and briefly had franchises in each league. For the I.T.A., O'Hara invested $100,000 of his own and raised $250,000 more from promotion-minded backers, including a track-shoe manufacturer...
Build a better mousetrap and the world will beat a path to your door-provided that adequate financing can be arranged to cover initial production and marketing expenses. As many an underfinanced entrepreneur has learned, the road to penury is paved with good inventions. Now there is an invention designed especially to provide backing for fledgling tycoons: the venture capital industry. After a decade or so of ups and downs, it is emerging as one of the most important sources of funds for new businesses...
Iffy. Banks and the stock market are still common sources of cash for expanding businesses. But a bank loan burdens an already cash-short entrepreneur with interest payments, and new issues of stock in small, young companies are not as easy to sell as they were in the 1960s. Venture capitalists fill the gap by buying an ownership stake in struggling companies. They will back just about any kind of business that shows a potential for making profits; Narragansett Capital Corp. of Providence, R.I., is now bankrolling ventures in cable television, soft-drink bottling and women's overcoats, while...
Snob Appeal. It is not by accident that backgammon has been rediscovered. Ten years ago, Prince Alexis ("Obie") Obolensky, a member of the jet set and a shrewd entrepreneur, set out to make backgammon a popular game. Phase 1 of his elaborate strategy was to exploit backgammon's snob appeal. He haunted the posh watering places from Palm Beach to Gstaad, talking up the game. "I made people think they should be doing it, that only the best people were involved," he recalls. "We brought in snobbism. Only in America can that kind of thing be done...
...Rahilly promptly flew to The Netherlands from his luxurious pad in London to confer with the mutinous crew. The long-haired Irish entrepreneur is a good talker, and three of the crew agreed to accompany him back to the ship, where he tried to calm Van der Kamp. Listeners to Radio Caroline got only a hint of the drama. Just before it went off the air following the crew rebellion, Peter Chicago apologized: "Sorry, sorry, but there's a mutiny on board." After the captain seemed pacified, Crispin St. John resumed broadcasting with an inspirational message...