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Edward Carter

Forty Years in Forty Minutes

(this is page 15 of 38)

Speaking of not very funny, when Robert Vesco raided IOS headquarters in Geneva, we in the U.K. kept him at bay, hived off the British company, and sold it.

I protected our clients, safeguarded their funds, and saved the careers of hundreds of colleagues. Now under another name, the company continues to be very successful.

With the collapse of Bernie's IOS, investors world-wide lost faith in "paper." I happened upon an archaic tax law in Britain called the "Gloucestershire Railway Carriage Act of 1893" which had allowed British investors to buy railroad wagons and take a 100% write-off in the first year by leasing them to the British railroads.

Following suit, I established a company to build and sell intermodal equipment to investors throughout Europe who would then lease them to carriers through our management subsidiary. Within three years, sales were more than $1.5 million a month.

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Please email me your travel tales, "postcards," and questions. I'll publish the most interesting, appropriate or outrageous in Correspondence - All the best, Ted (short for Edward)