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At 11:15 on a Wednesday morning in May, in an industrial park outside the port of La Coruna in northwestern Spain, a 65-year-old man in casual business attire shambled out of his office and into a room with a TV set. Fifteen minutes later the company he started as a young man began selling shares to the public for the first time. What he launched in 1975 as a local store called Zara was now the world's third largest clothing retailer, Inditex, with two dozen manufacturing plants in Spain and stores in 34 countries from the United States to Japan. The man watched on TV as Inditex shares shot up 26 percent in a matter of minutes, despite the dismal climate for IPOs ...