Dennis Albaugh, The Prince of Pesticides. Iowa farmboy shunned family business when older brother took over for parents, my brother and I wouldn't want to work for each other either, earned 2-year agriculture business degree. Spent 7 years selling fertilizer, Then founded Albaugh Inc. 1979. Mortgaged home to buy a truck and weedkiller to sell to a customer in South Dakota. Truck sprang a leak; entire supply vanished by end of trip. Rented new truck, chemicals with credit; broke even. Barely turned a profit throughout the 1980s. Began selling glyphosate, the main ingredient in Monsanto's Roundup herbicide, in 2001, soon after chemical went off patent in the U.S. Bought factory in Argentina to manufacture glyphosate, gain edge over competition. Sales in 2006: $800 million. Operating margins 15%. Expanding into Brazil; developing 1,100 acres of farmland in hometown of Ankeny, Iowa. Self-made rich man with a lot of toys. Somewhere around the 800 mark on Forbes rich scale. He owns 100% of the company and has a fortune estimated at $1.5 billion.
He amassed a collection of 120 Chevys. Everyone has liked or at least owned a Chevy at one time or another. I like them for one reason...I can still fit behind the steering wheel.
I have noticed at the auctions this year there have been a lot of collections for sale. I don't know if it is the economy, age of the owners, lack of interest or what. Most large collectons are owned by people my age or older and maybe they just think it is time for others to enjoy the cars they have collected.
This collection has two interesting factors. One, all the cars are convertibles and two, IT IS NOT FOR SALE.
