Word: paulsons
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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...
...brimming with aw-shucks charm, Paulson had been moderately wealthy for several years before his half-billion-dollar windfall. Now he complains that "going public was probably the worst thing that happened to me. My private life became my public life. It's like living in a fishbowl." Paulson is building a 10,000-sq.-ft. replica of an antebellum mansion near Savannah that has 2,000 sq. ft. of porches, two man-made lakes, a nine-hole golf course, a tennis court, a boat dock and a landing pad for his five-passenger Bell JetRanger III helicopter...
...James R. Paulson...
...James R. Paulson...
...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...