Thursday, March 23, 2006 9:51:20 PM
"Around the same time you all read about the death of John Paul, you may also have seen an article about the death of a man named Sol Linowitz, who was a Johns Hopkins University trustee. Sol Linowitz was one of the founders of Xerox Corp. We all know about Xerox, because we all make copies. Well, Sol was the lawyer who negotiated the rights to get the patent on the first Xerox machine. Eventually, he became chairman of Xerox and built it into a multi-million dollar corporation, and made a lot of money.
At age 52, he retired, and moved to Washington at the request of then-president Lyndon Johnson. Sol went on to serve every president from Johnson through Bill Clinton. He negotiated the transfer of the Panama Canal; he was the ambassador of the Organization of American States; he was Jimmy Carter's ambassador to the Middle East, and negotiated the first Middle East peace accord with Menacham Begin and Anwar Sadat. He gave an entire life, after his business career, of dedicated service."
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Now you may ask why I posted this. The reason is to show an example of how "new" corporations pay for "expenses". Xerox did not have the funds to pay Mr. Linowitz for services rendered so they paid him in stock. As they say "the rest is history".
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