Trm Makes Millions A Nickel At A Time

People thought Edwin S. Chan was crazy. In 1984, at 52, he was managing more than 80 branches of Copeland Lumber Yards Inc. But he had no equity and little room for advancement. So Chan ended his 27-year career to take over a struggling business that ran about 100 copy machines in small Oregon stores. For Chan, who received equity--but no salary--for the first six months, the transition was a shock: "I had been managing a $100 million business, and now I had to make money a nickel at a time," he recalls.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.