Word: thomachot
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Dates: during 1965-1965
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...Will Be Boys. This unique bit of entrepreneurism was conceived eleven years ago by Jean-Pierre Bruggeman, 44, and Jean Thomachot, 39, then French wine merchants in Algeria. They discovered that there was more money to be made in casks for shipping than in the wine. Extending the idea, they founded an investment company called Algeco to buy up railroad tank cars at prices ranging from $7,000 to $26,000, then leased the cars to oil companies and skimmed off 20% of the revenue as a management fee. Today Algeco owns more than 8,000 tank cars that haul...
...automobile transporter." Many multicar families among Algeco's 6,000 investors have their names engraved on the sides of their railroad cars and often appear at the company's offices off the Champs Elysees to check on the location of their cars. Co-Presidents Bruggeman and Thomachot encourage this personal interest by inviting visiting investors to "drop by for a whisky and tete-a-tete...
...Years to Wait. Algeco has been so successful that it has branched into other fields, invested $100 million of its shareholders' money in such tangibles as vending machines, trailer trucks and real estate. Last week Thomachot roved the Riviera for what Algeco calls the "investments of the future"-land that can be made into marinas, golf clubs and vacation villages. Algeco already manages a three-chateau country club outside Paris, an all-year golf course in Lavandou and a 1,500-yacht marina in the bay of Saint-Tropez. Not long ago, it began selling individual lots in France...
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