L. William TEWELES - Verdant Partners - USA

June 2002

Leapfrogging ahead to 1972, we sold our family seed company to Kent Feed Company in Muscatine, Iowa. After three and half generations, the ownership of Teweles seed shares was widely split among those of us in the family who were operating the business and the other family shareholders who needed dividends from the business to maintain their lifestyle. It became clear that our company could no longer continue investing significantly in research and pay the kind of dividends the shareholders felt they deserved. By that time our company had moved aggressively into hybrid seed corn and proprietary soybeans and our research budget had become significant. Selling the company resolved these problems to the satisfaction of all the shareholders.

Brother Bob Teweles moved to Muscatine, Iowa to become General Manager of the seed company for the new owners. Like so many other things in life, chance brought an opportunity that was to change my world. I was 49 years old, unemployed, with four children and had just purchased a new house. I needed work. Opportunity came in the form of a phone call from the Arthur D. Little Company, Boston, Massachusetts, a major consulting company, who had just finished marketing a multiclient study entitled "The US Seed Industry". ADL had orders for 35 of these multiclient studies from multinational agricultural chemical and/or pharmaceutical companies around the globe. ADL had a problem - who was to execute the study, which they sold for $30,000 each, fifty percent payment in advance? That’s where I lucked out. I was hired on a per diem basis to help ADL write the study, working with their top executives. As I said, I needed work. While the wages were not exactly executive category, the assignment was really very simple because at that time I had already been in the industry for 28 years and understood how it worked. Not to mention having dozens and dozens of friends, former competitors, in high places in the seed industry. So I said, "Yes, let’s roll."

 

 

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