Word: gulfstreams
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...Allen E. Paulson, 61, founder of Gulfstream Aerospace, the maker of plush corporate jets. As an Iowa farm boy growing up in the Depression, Paulson supported himself by selling newspapers and cleaning hotel bathrooms. Following high school, he went to work for TWA as a mechanic and moonlighted at an auto-repair garage. After selling surplus airplane parts and advising competing airlines and then TWA on engine design, Paulson in 1951 set up his own business converting surplus passenger planes into cargo aircraft. It grew, and by 1978 he was ready to begin building airplanes on his own. He acquired...
...these stocks until the offering, the entrepreneurs behind the ventures have no accurate yardstick for measuring what they, or their companies, are worth. Finding out is likely to be a pleasant experience for K. Philip Hwang, 46, chairman of Tele Video Systems Inc., and Allen Paulson, 60, chairman of Gulfstream Aerospace Corp. Their companies are among the 145 now in registration with the Securities and Exchange Commission for first-time offerings. Preliminary prospectuses show that, at the prices anticipated by the underwriters, Hwang and Paulson will soon be worth about half a billion dollars each, at least paper...
...weeks after TeleVideo goes public, Gulfstream Aerospace is expected to follow. Paulson, a former airline mechanic who once sold secondhand airplanes, set up a company in 1976 that two years later bought Grumnian American Aviation Corp., maker of the Gulfstream line of corporate aircraft. Its principal product, the 19-passenger Gulfstream III fanjet aircraft, costs upwards of $10.5 million and, according to the offering prospectus, boasts the longest range and fastest cruising speed of any business aircraft. In 1982 the Savannah-based company's sales rose by 33%, to $575.5 million, and profits more than tripled, to $43 million...
...gifted negotiator who helped mediate the release of the 52 American hostages from Iran early last year, and eight other senior Algerian officials were en route to Tehran to try to end the war that has racked Iran and Iraq for 19 months. But as Benyahia's Grumman Gulfstream II executive jet last week flew near the point where the borders of Turkey, Iran and Iraq meet, it was apparently attacked and shot down. Everyone aboard the plane was killed...
...Polo and Country Club. The P.B.P.C.C. has eleven polo fields (each ten times the size of a football field) surrounded by condominiums, villas and single-family homes. There is also a complex in Boca Raton called the Royal Palm Polo-Sports Club, with seven fields, and the 800-acre Gulfstream Polo at Lake Worth with five more...