Friday, February 12, 2010

Another who said "Yes I Can".

H. Ross Perot, a proud Texan, graduated from the U.S. Naval Academy in 1953. After serving his tour of duty, he became a salesperson for IBM. Wanting his own business, he borrowed the money from his father-in-law to establish Electronic Data Systems (EDS) in Dallas in 1962. The company, employing 70,000 people, made Perot a multimillionaire, then a billionaire when he took the company public in 1968.

He began a crusade to lobby for the release of the American POW's in Vietnam in 1969. In 1979, two EDS employees were taken hostage by the Iranian government. When U.S. government efforts to rescue the employees slowed to a crawl due to "red tape" and politics, Perot financed and arranged for a commando raid of EDS employees led by retired Green Beret Colonel Arthur "Bull" Simons. Perot himself went to Iran and entered the prison where his men were held. Ken Follet wrote a best selling novel, On Wings of Eagles, about the rescue. AN NBC miniseries was later made from the book.

Perot sold EDS in 1984 to General Motors for $2.5 billion. He retained ownership in the company, which made him GM's largest individual stockholder and a member of the board of directors. From the start, Perot and GM head Roger Smith quarreled, and Perot criticized the quality of GM automobiles and made "radical" suggestions such as moving the CEO's office from high atop the golden towers of the GM building to a local plant location where he could get a better feel for the business and communicate with his employees. Perot also suggested that Smith actually drive to work in a GM vehicle rather than being chauffeured to work every day in a corporate limousine, thus getting an actual feel for his product. GM employees soon had more respect for and rapport wit Perot than they did the majority of the corporate leadership team.
In 1986, GM bought out Perot's stock for $700 million. Two years later, he started a new computer service company, Perot Systems, which operates in the U.S and Europe.

I didn't write this myself. It is info I found on the web. I just think its a great story. Imagine if the GM executives had just listened to him?

Please leave your thoughts, and until next time ~ CIAO!