Bankruptcy

[jcw6491]

--- In HPFGU-OTChatter at yahoogroups.com, "Iggy McSnurd" 
<CoyotesChild at c...> wrote:
> > 
> > I once entertained myself figuring out how much money Ross
> > Perot would make every year if he just put his billions in a
> > savings account that paid the usual under-2%.  It made me feel
> > a little ill.
> > 
> > Amy Z
> > 
> 
> Iggy here:
> 
> The scary thing is when you consider how he made a ton of that 
money...
> by starting up EMS.  (For those of you who don't know, EMS = 
Electronic
> Money Services.  It's a company that processes all of the inter-
bank
> account transactions for the US.)
> 
> Iggy McSnurd
> (former bank teller.)

Ross Perot attended the Navel Academy from 1949 to 1953 (class 
president, chairman of the honor committee and battalion 
commander)...in 1957 he left the Navy and went to work for IBM in 
their data processing division as a salesman...in 1962 he borrowed 
one thoudand dollars from his wife Margot's savings account and 
started EDS (Electronic Data Systems)...a one man data processing 
company...by 1984 the company had over 70,000 employees at which 
time he sold it to General Motors for 2.5 billion...he also retained 
an equity stake making him the single largest stockholder in GM...he 
constantly fought with Roger Smith (GM chairman) and in 1986 GM 
bought out his equity position for 700 million dollars and an 
agreement that he would not compete against EDS for three years...he 
promptly ignored that agreement and two years later started Perot 
Systems which still operates in the U.S. and Europe...probably more 
than you really wanted to know about Ross Perot but he is an 
interesting study in business and the Information Technologies 
Industry (my career field)...don't know anything about EMS but Ross 
Perot has spent his entire professional career with the Navy, IBM, 
EDS and Perot Systems....