Saturday, July 29, 2006

Richard Branson Thinking Out Loud

When we entered the airline business, the very first plane Boeing sent over to us ran into a bunch of birds and lost an engine. Because it hadn't been delivered yet, the insurance didn't cover that, so we were $1.5 million down before we flew our first flight, which took the whole Virgin Group beyond its overdraft facility.

Two days later, as I returned from the inaugural flight, our bank manager was sitting on my doorstep and telling me that he's going to foreclose on the whole business if we don't get the money in by Monday - and that was a Friday.

Read the entire interview with Virgin Group founder Richard Branson here.

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