Word: murchisons
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Your coverage of the Clint and John Murchison story was a masterpiece of clarity and understandability of a very complicated and tangled situation that most financial journals and newspapers to date have been unable to clearly explain to their readers...
Another first for Texas and the Clan Murchison-a unique manure! Here, in America's Rhineland, our Angus provide us with tons of the stuff. When it is heaped in the barn, no one's nose is offended. When it is spread through the vineyards, the effluvium floats for miles. Perhaps the Murchisons will be luckier in financial maneuvers than in choosing metaphors...
...their Dallas headquarters, six executives known as "associates" keep a close watch over assigned portions of the Murchison empire, deciding the right time to buy, to sell, or to exert more control. The associates do not get large salaries, but they benefit from a friendly Murchison-and Texan-custom: helping friends to get rich by letting them in on deals. "We want our boys to make money," says John. "If one of them makes a million, we've made 10 million. Naturally, they need very little encouragement...
Aiding the Legend. The brothers keep in touch with their father, who at 66 spends much of his time in a wheelchair as a result of two recent strokes, but they rarely consult him about business deals any longer. To B. H. Majors, an old Murchison family friend, the boys are motivated above all by a desire "to do right by their father and the legend he has created." They certainly live by a principle inculcated in them by old Clint. Says Clint Jr.: "There isn't any sense in having $40 million in the bank or even...
...Murchisons consider themselves "speculative businessmen" who justify their business existence by spreading money around. "Some people say we are gamblers," complains Clint Jr., "but that isn't true. In gambling, you are betting on Lady Luck; in speculating, you have your mind to help you, and you are betting on yourself." Whatever "speculator" may mean to most Americans, no one needs to smile, podner, when he says it to a Murchison...