Career
After the Marines, Lerner began selling furniture, earning $75 a week. He would get into real estate and later banking.
In 1990, he became a major shareholder in MNC Financial, a small Baltimore bank. Struggling with real estate loans in the midst of the savings and loan crisis, MNC soon needed leadership and Lerner stepped in as chief executive officer. He tried unsuccessfully to sell the bank's most successful unit, credit card issuer MBNA, to raise cash. In 1991, he took MBNA public, investing $100 million of his own money to ensure the success of the initial sale of stock. Controversial MBNA would blossom into the second largest credit card issuer.
He was also the chairman of Town and Country Trust, which owns and operates more than 15,000 apartment units in the mid-Atlantic region.
Read more about this topic: Al Lerner
Famous quotes containing the word career:
“The problem, thus, is not whether or not women are to combine marriage and motherhood with work or career but how they are to do so—concomitantly in a two-role continuous pattern or sequentially in a pattern involving job or career discontinuities.”
—Jessie Bernard (20th century)
“I began my editorial career with the presidency of Mr. Adams, and my principal object was to render his administration all the assistance in my power. I flattered myself with the hope of accompanying him through [his] voyage, and of partaking in a trifling degree, of the glory of the enterprise; but he suddenly tacked about, and I could follow him no longer. I therefore waited for the first opportunity to haul down my sails.”
—William Cobbett (1762–1835)
“Work-family conflicts—the trade-offs of your money or your life, your job or your child—would not be forced upon women with such sanguine disregard if men experienced the same career stalls caused by the-buck-stops-here responsibility for children.”
—Letty Cottin Pogrebin (20th century)