Jack Milligan, editor-at-large for Bank Director
Johnny Allison took the vow of entrepreneurship at a young age. When he was just 12, Allison and his brother were determined to acquire a Cushman Eagle motor scooter, which in the 1960s cost about $350. Allison’s family didn’t have a lot of money, so if the boys wanted that scooter they would have to earn the money themselves. To raise the necessary cash, they spent a summer digging ditches in the mobile home park owned by their father. At summer’s end they were still $100 short, so they went to a local bank and borrowed the rest. “‘If you...
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Jack Milligan is editor-at-large of Bank Director, an information resource for directors and officers of financial companies. You can connect with Jack on LinkedIn or follow @BankDirectorEd on Twitter.