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InsaniteeBicycles t1_j264cin wrote

I work in one of Mr Kraft's paper mills. We have the distinction of being his collateral when he put in his bid to buy the Patriots. Ultimately quite successful of course , and upped his game from mere millionaire to billionaire.

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jpr_jpr t1_j27mcd7 wrote

Wasn't the company his FIL's. Kraft was talented, but I thought the money started with his wife's family.

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InsaniteeBicycles t1_j28y6qw wrote

You are correct. Myra's family owned it. I've heard some different versions of the story and honestly never been interested enough to look up details, but I believe he basically organized a takeover of the mill with some investor friends and shut the old man out. Then built a new mill, with a big chunk of state incentive money to clean up the river. (We don't discharge anything there, ever, but the old plant was notoriously bad and it was known locally as the Rainbow River.) Then once running in 1994 it was used to leverage the Patriots buyout, along with other factors. In 2005 more state utility incentives came along and we built a gas turbine to power the plant. We make lots of money for them and we are a very efficient little paper mill. Your tax dollars have helped!

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