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" ... A rags to riches story, Zhong reportedly dropped out of elementary school during China's Cultural Revolution and once worked as a construction worker, a newspaper reporter and a beverage sales agent. He set up the predecessor company to Nongfu in his native Hangzhou in 1996. The company, known for its bottled water, also sells other packaged drinks like tea and juices. ... "
" ... Malden Mills started in 1906 in Malden, Massachusetts, founded by Jewish Hungarian immigrant Henry Feuerstein, who had earlier peddled rags from a pushcart in New York City. By 1956 the business was run by his grandson, Aaron, and he moved it to a century-old redbrick mill in Lawrence, 30 miles north of Boston, where the firm became the biggest and best employer in town. ... "
" ... The Barclay brothers lived a genuine rags to riches story of twins who left school at age 14 and worked their way up from jobs as painters to the accounting department of General Electric before getting a taste for flipping London hotels. ... "
" ... The sale of secondhand goods is global. Middle-class donors of goods to their local thrift stores might imagine that those goods simply help the poor in their community, but there is a long chain of resale involved, at least for some items: top-quality goods will be sold at boutiques or with online auctions; ordinary goods at ordinary resale stores; items which haven’t sold within a month or two are shifted to outlet stores; further down, items are selected for sale to Mexico, to Africa or for use as rags. A pair of Levi’s in poor condition might even have the buttons removed and repurposed for knock-off Levi’s. But even among items are resold to Africa, buyers are selective; cold-weather clothing is less likely to be given this second life and African buyers are looking for quality goods and particular styles. Polyester clothing isn’t useful for rag-making. And the decline in quality (fabric thread count, quality of stitching, etc.) limits the degree of re-use. ... "
" ... While written over 90 years ago, those words — "gradually and then suddenly" — could be headline news today about once-admired companies that fell from riches to rags. Exponential change doesn't care how long you've been in business. Just ask former employees and executives of Blockbuster, Borders and Kodak. Putting your head in the sand and hoping the future won’t happen is a leadership tactic that may leave your career or your company on life support. ... "