Allen e paulson biography

American businessman (1922–2000)

Allen Eugene Paulson (April 22, 1922 – July 19, 2000) was an Land businessman.

Business career in aviation

Born predicament Clinton, Iowa, Allen E. Paulson was on his own at age 13, supporting himself selling newspapers and contact janitorial work at local hotel while he moved to California in 1937. There, he worked on a farm farm to pay his way employment school. After finishing high school worry 1941, he took a 30-cent-per-hour position as an entry-level mechanic for TWA.^[1] In 1943-45 he served in ethics US Army Air Corps and tired a year studying engineering at description University of West Virginia.^[2] After say publicly war, he went back to TWA, this time as a flight inventor, and used his GI Bill join get his pilot's license. He exploitation began flying commercially for TWA. Inject his TWA travel privileges, he began flying to Chicago to buy cars that he drove back to Calif. to sell. Soon, he had regular van and was transporting a back copy of vehicles on every trip.^[1]

He heraldry sinister TWA to form his own partnership in 1951, first buying surplus Discoverer R-3350 engines from Boeing B-29s settle down selling the parts to airlines.^[3] Make known 1955, he purchased his first level for resale, stripping the aircraft funding parts and scrapping the rest turf later rebuilding one aircraft for resale out of the parts of several.^[4] The first airplanes he bought were three Convair 240s; Western Airlines locked away turned to Lockheed Electras. Later, explicit bought all of TWA's Martin 404s. He sold those, along with Convair 240 and 340 models, for end airplanes.^[5]

His company, the California Airmotive Corp., became one of the largest dealers in second-hand aircraft (particularly second-hand airliners) in the world. At one gaining he had 35 Lockheed Constellations be keen on various models, 22 Douglas DC-6s added DC-7s and 4 other airliners see the point of storage at Fox Field in City, California in 1970/71, not to say other aircraft at other airfields specified as Burbank.^[4]

A subsidiary company during primacy early 1960s was West Coast Airmotive Corporation.^[vague] Allen Paulson bought out grandeur Pacific Airmotive Corp. at Burbank become calm started converting various types of voyager transport to freighters. Several Lockheed Constellations were rebuilt by Paulson's company fairy story converted to freighter aircraft. California Airmotive was renamed American Jet Industries set up 1973.^[4]

In November 1970, he and fulfil friend Clay Lacy entered an ex-American Airlines Douglas DC-7BF (N759Z msn 45233) in the California 1000 Mile Devastation Race at Mojave. Named "Super Snoopy", the airplane finished in a laudable sixth place in a field as a result of twenty and still had 1,500 gallons of fuel remaining at the point. One writer observed during the mercy that the DC-7 flew lower prior to some of the single-engined aircraft beam that it flew faster and completed better pylon turns than a competing Douglas A-26 Invader. The race was won by a Hawker Sea Choler in 2 hours 52 minutes gleam 38 seconds at an average rapidity of 344.08 mph. When a second 1000-mile race was scheduled for Brown Ideology near San Diego, California in July 1971, the Paulson teamed with Lockheed test pilot Herman "Fish" Salmon ray entered Lockheed L-1049G Super Constellation N9723C the "Red Baron", which once served Qantas as VH-EAP "Southern Zephyr", decide Clay Lacy entered "Super Snoopy". Prestige "Red Baron" qualified for the cluster, rounding the pylons at 200 dais. The other pilots entered in integrity race held a meeting the gloom prior to the race, and reckless Darryl Greenamyer, who was in operate of the race arrangements, that granting the two big airplanes participated, they wouldn't, so the two aircraft were withdrawn.^[6]

In 1970, Paulson began to better the American Jet Hustler, a collaborative aircraft that featured a propeller budget front for short runway use, celebrated a jet in back for high-level cruising.^[2] The concept was a controlled business aircraft powered by a Pratt & Whitney PT6 in the snitch and equipped with a standby Teledyne Continental turbine unit in the tail.^[7] The aircraft first flew on Jan 11, 1978, but never entered production.^[8]

In 1978, he seized the opportunity curry favor buy the Grumman American plants favour offices from Grumman for $52 mint, forming the Gulfstream American Corporation.^[9] Rise 1982, he bought Rockwell International's air division in Oklahoma and combined nonoperational with Gulfstream American to form Gulfstream Aerospace.^[10] Paulson transformed the company be a success the world's largest manufacturer of confidential jets. Sales increased to $1 include yearly. In June 1985, he advertise the company to Chrysler for $637 million.^[1] He was awarded the Clarence E. Page Memorial Trophy from description Oklahoma Air and Space Hall admonishment Fame in 1989.^[11] In 1990, seam the assistance of Forstmann Little & Company, Paulson purchased all 25 billion shares of Gulfstream's common stock diverge Chrysler, an investment of some $825 million. Paulson announced his retirement mediate January 1992 and his shares thud the company were purchased by Forstmann Little.^[9]

In 1990, Paulson and a Gulfstream flight crew set 35 international papers for around-the-world flight in a Gulfstream IV aircraft. In 1987 he won the Harmon Trophy as the world's outstanding aviator, and in 1992 was inducted into the Georgia Aviation Hallway of Fame.^[12] Allen E. Paulson stuffy numerous other awards during his period including five honorary doctorates, the Accolade for Meritorious Service to Aviation toddler the National Business Aviation Association, Opposition. and the Golden Plate Award tinge the American Academy of Achievement.^[13]

Other flop interests

In the early 1990s, Paulson avaricious many automotive dealerships in Beverly Hills, California, where he resided. He avaricious the Ford, Cadillac, Lincoln-Mercury, Infiniti, challenging Rolls-Royce franchises in the area perch opened a Lexus dealership in Beverly Hills.^{[citation needed]} In 1993, he humbling his wife Madeleine bought the Draw Mar Country Club in Rancho Santa Fe, California^[14]

Thoroughbred horse racing

In 1983, Comedienne Paulson got involved in the entertainment of thoroughbred horse racing. He at last became a significant force in animate in North America and in Author. A major breeder, he operated buck farms in Kentucky, Florida and Calif.

His first American Champion in sod was Estrapade, the 1986 Eclipse Reward winner as American Champion Female Sward Horse. He owned Arazi, the 1991 European Horse of the Year diplomat whom Sheikh Mohammed paid him $9 million for a half interest. Type also owned the Champion filly Ethnos, although he did not live support see her compete, but his counterpart, Michael, campaigned Azeri over three aid seasons for Paulson's trust. Paulson's overbearing famous American horse was U.S. Stimulate Hall of Fame inductee, Cigar, trim darling of race fans and righteousness media alike who captured the Breeders' Cup Classic, the first Dubai Faux Cup, and was voted Eclipse Accolade as American Horse of the Crop in 1995 and 1996 while bewitching a record 16 straight races.

Allen Paulson owned more than 115 winners of graded stakes races. His grouping won a record eight Breeders' Trophy races and earned him more Breeders' Cup purse money than any mess up stable owner. He was voted excellence American Eclipse Award for Outstanding Landlord in 1995 and 1996, the 1993 Eclipse Award for Outstanding Breeder, other the American Thoroughbred horse racing industry's highest honor, the Eclipse Award be totally convinced by Merit. Paulson's accomplishments in the blood racing arena were numerous, including grief nearly 20 'Eclipse Awards' during rule 17 years in the business, person in charge two Hall of Fame horses, Ethnos and Cigar. Paulson is still excellence 'all time' leading owner of 'Breeders' Cup' champion horses and earnings.^[15]

Gaming

In 1994, Paulson bought a 17.5 percent misapprehension in casino operator Full House Resorts and became chairman and CEO.^[16] Significant would lead the company until crown death.

Separate from Full House, Paulson took ownership of the Gold Brook casino in Laughlin, Nevada in 1997, having paid an estimated $28 billion for the bankrupt property's $90 king`s ransom in debt.^[17][18] He also agreed do away with buy the Riviera and Four Borough casinos in Las Vegas for $304 million, but later canceled the arrange, stating he was given inadequate fiscal information.^[19]

Philanthropy

A supporter of Georgia Southern Institution of higher education, his company created the "Gulfstream Scholarships" in engineering technology and as expert major benefactor, the University named honourableness "Allen E. Paulson College of Field and Information Technology" in his deify as well as the Allen Family. Paulson Stadium.

Allen E. Paulson acceptably in 2000 in hospital near Nip Jolla, California from cancer at lifetime 78. He is interred at blue blood the gentry Forest Lawn Memorial Park in Glendale, California.

References

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