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It's All About Who You Hire, How They Lead...and Other Essential Advice from a Self-Made Leader by Morton L. Mandel

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CHAPTER 9

Why We Swung Our Acquisitions Bat to Hit Singles, Not Home Runs

BUSINESS IS MAINLY ABOUT TAKING ADVANTAGE OF OPPORTUNITIES. By the mid-1960s, Premier had become a very successful company. In 1964, Premier reached another milestone when our company’s shares were accepted for trading on the New York Stock Exchange. Every year, the company’s earnings and revenues had shown significant growth.

By the mid-1960s, we knew we had to be in electronics. It was the wave of the future, and it clearly was an industry already booming. As mentioned earlier, we found a midsize distributor in Chicago called Newark Electronics through a business broker who represented the Poncher brothers, who owned the business. Sam Poncher was president; his brother ...

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