Early Years
Hart's successful business career has humble origins—in his younger days, he worked as a tow-truck driver and as a panel beater after leaving school at 16.
In 1987, Hart completed an MBA from the University of Otago. His research thesis outlines the strategy for Rank, then a small hire company, to evolve into a major corporation. This strategy relies on using the cash flow of well-performing companies to fund debt, which as it gets paid off, increases the equity value of the initial investors, a.k.a. leveraged buyouts.
Hart gained a big break when he purchased the Government Printing Office for less than its capital value in 1990. The purchase was 1.4x Earnings and Hart was provided generous payment terms. Then New Zealand Prime Minister David Lange initially refused to sign off the transaction. The following year he bought Whitcoulls Group which at that time included a retail chain of bookstores as well as office and stationery concerns. He has since sold off these interests.
Read more about this topic: Graeme Hart
Famous quotes containing the words early years, early and/or years:
“If there is a price to pay for the privilege of spending the early years of child rearing in the driver’s seat, it is our reluctance, our inability, to tolerate being demoted to the backseat. Spurred by our success in programming our children during the preschool years, we may find it difficult to forgo in later states the level of control that once afforded us so much satisfaction.”
—Melinda M. Marshall (20th century)
“With boys you always know where you stand. Right in the path of a hurricane. It’s all there. The fruit flies hovering over their waste can, the hamster trying to escape to cleaner air, the bedrooms decorated in Early Bus Station Restroom.”
—Erma Bombeck (20th century)
“Not too many years ago, a child’s experience was limited by how far he or she could ride a bicycle or by the physical boundaries that parents set. Today ... the real boundaries of a child’s life are set more by the number of available cable channels and videotapes, by the simulated reality of videogames, by the number of megabytes of memory in the home computer. Now kids can go anywhere, as long as they stay inside the electronic bubble.”
—Richard Louv (20th century)