Word: entrepreneurism
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Dates: during 2000-2009
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Naguib Sawiris likes to think of himself as the Middle East's answer to Richard Branson. Last year the Egyptian entrepreneur started operating what is so far Iraq's only mobile-phone network. After just six months, his company, Orascom Telecom, already has more than half a million subscribers there, earning it $95 million before taxes and interest. Like Branson, Sawiris is a music lover - he calls himself a "party animal" - and has a taste for risky ventures. To date, six Orascom engineers and technicians have been kidnapped in Iraq and two of its sites have been shot...
...uneasy about Turner's apparent moralistic streak. In 1982, in his only editorial for CNN, he called upon viewers to write to their Congressmen to protest the sex and violence in Hollywood films. Studio executives are now speculating about the entrepreneur's designs on MGM productions. Joked an MGM/UA executive last week: "Does Turner want to make movies? He did his Rhett Butler imitation when he was in here Monday." Turner, whose favorite movie is Gone With the Wind, named his son Rhett, 19, for the Clark Gable character in that film...
Beatrice last week received word of a different kind of proposal that the firm may wish to ponder. It came from Warren Avis, founder of the Avis car-rental company. The entrepreneur, who sold Avis in 1954, said he wants to buy it back from Beatrice, which has owned the business for little more than a year. Avis said he has assembled a group of private, international investors who hope to acquire the auto concern, which operates in more than 100 countries and is worth an estimated $400 million...
...been in trouble since the summer, when Atlanta Entrepreneur Ted Turner launched a $5.4 billion takeover bid. The company escaped Turner's clutches by buying back 21% of its stock, but it did that by taking on increased debt, which has forced the firm to cut expenses and trim its staff...
...from a scruffy Harlem elementary school to the top of the heap? Not all that far, in the benign perception of Entrepreneur Eugene Lang, 66, if you can stick with your books and show a little hustle. Before he was nine years old, Lang was doing plenty of both. Each school day he walked the two miles back and forth between his home in Manhattan and P.S. 121 in Harlem to save the nickel carfare. Along the way, he picked up extra nickels from other boys by selling checkers that he had carefully lead weighted to become lethal shooters...