#91 Jim Clayton (Sold to Warren Buffett)
Founders
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The Downfall of Fast Growth and Unchecked Leverage
A young businessman, Jim, is lured by a bank offering fast growth through leverage. The bank begins giving credit to businesses fraudulently, including Jim's dealership. When the bank realizes the impending defaults, they cease the credit lines. Jim, enticed by fast growth, disregards the advice to grow slowly and chooses the risky fast growth path. Despite warnings to control costs, he neglects to do so, leading to his downfall.
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