Does It Have Any “Long Term” Lasting Benefit?
According Paul Thayer, former Chairman and C.E.O. of LTV Aerospace Corp, it does!
FOUR FOREST PLAZA
12222 MERIT DRIVE
DALLAS, TEXAS 75251
It’s hard to believe but it’s been almost a quarter of a century since we first met. In looking back on that part of my life, I must conclude that no other one person, other than my wife, Margery, has exerted such a positive influence on me, particularly during some pretty dark days that now we hardly remember. And, it’s about time I told you so.
In the late sixties not too long after we met, as you will remember, I accepted your invitation to spend a long weekend in Kerrville attending my first SUCCESSFUL LIFE Course. By Sunday afternoon, you and Earlene had managed to persuade me that I was not quite as motivated as I thought I was. The most impressive result of the entire three-day event, however, was to watch some rather shy, not-so-confident members of the class emerge as laughing, living, and loving personalities ready to take on all the challenges they had been holding in the background.
At this point, I was the Chairman of LTV/Aerospace Corp. and succeeded in convincing some of my associates that they too should plan to spend a weekend in Kerrville. Many of the executives were less than enthusiastic about the prospect before going but returned convinced. As the word got around and “I’m Terrific” became a password in the hallways, the follow-on groups got their own momentum. Needless to say, many of the problems that faced LTVAC in those days were met with much more force and finesse than before we were injected with “Foreman’s Formidable Formula.”
Then in June of 1970, I was “anointed” by the LTV Board to the Chairman and CEO of the parent company. I didn’t really want the job because I was having a lot of fun in the aerospace business. I was convinced it was the right change to make, however, when a couple of the Board members mentioned that if I didn’t accept their offer, they would have to hire me a boss and I might not like him.
Well as you know, at the time LTV had a lousy financial picture – roughly two billion dollars in debt; negative cash flow; under collateralized; unable to service debt and in technical default with the banks. So among other things, we exposed many of our management people to the “Foreman Magic” and two years later, we were profitable with most of our financial problems well on the way to being solved.
So, in looking back about 23 years, Ed Foreman, it’s clear that you have been a moving, tangible force in my life. And along with a few thousand others, I want to thank you from the bottom of my heart. You are a great and dear friend.
Mr. Ed Foreman, President
Executive Development Systems
14135 Midway Road, Suite 250, L.B. #7
Dallas, Texas 75244