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Tandy Turned Radio Shack Into A Money Machine; Plan Long Term: When leather entrepreneur Charles Tandy bought the ailing business, he was thinking 10 steps ahead.(LEADERS & SUCCESS)(BEST OF LEADERS & SUCCESS)
Byline: CURT SCHLEIER
Charles Tandy was willing to fight for what he believed in.
Tandy, chairman of Tandy Corp., which operated leather craft stores, wanted to buy Radio Shack, a Boston-based chain of nine electronics stores, in 1963.
Radio Shack was on the edge of bankruptcy, but Tandy had studied the company for some months. His research convinced him the problem was poor management and that Radio Shack was a turnaround opportunity.
His fellow board members, however, were not nearly as certain. They were reluctant to go along. According to Irvin Farman, author of "Tandy's Money Machine," Tandy was sure his instincts were right.
When coaxing and facts fail, sometimes hardball is the only method that works, Tandy felt.
"If I don't get an affirmative vote on this," Tandy told the board, "then I will sell every share of stock I own in the corporation, and I will, personally, take this on my own hook."
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...Separately, Tandy also announced a...personal computers. Radio Shack customers can get...now estimates that Radio Shack will sell 2.9 million...satellite TV systems. Tandy improved its pact...result, he said, Radio Shack's sales staff is...
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