Sam Wyly Case Study

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Sam Wyly a descendant of Irishmen, Englishman, Scotsmen, Welshman. Now lives in a middle-class family in Lake Province, Louisiana, a town that only has a population of 2000. His parents, Charles and Flora Wyly owned a cotton farm when he was born. They lived in a 1200-foot white house, which they proudly called a painted house because painted houses were rare during the Great Depression. It hit the agricultural sector the worse, so the Wyly family had to adjust. There had to use an outhouse instead of a toilet, a pump instead of a faucet and a fireplace instead of a heater. After that, they soon ran Angola prison and later they moved to Delhi, Louisiana to own a newspaper company. Sam and his older brother, Chales Wyly Jr. cleaned presses, wrote articles, took…show more content…
By 1965 University computing would become a publicly traded company. By 1969 the company was worth $1 billion. Early employees and investors become millionaires. The company offered computer installation and leasing services to oil companies. Since Sam Wyly first business success he went on several different business ventures one of these businesses was failing restaurant chain called Bonanza. With his leadership, the company moved from 4.2 million lost to making 2 million dollars' worth of profit. The reason why is that he appointed Dan Thomas as CEO, in which Sam refer to him as the "greatest manger he ever meets". He turns around the store around by turning the company owned store into franchises and he added a salad bar. He sold his company to Metromedia conglomerate for $83 million. He also bought an oil company when oil was worth 2.8 dollars a barrel and sold when it was worth forty dollars a barrel. After Sam Wyly stared a data transmission subsidiary for University Computing called Datran. He tried to take over Western Union the only company that had the nationwide right to compete with At&T, but the state of New York would not him take control of the company, so he had to start his

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