If you have much experience flying in corporate aircraft, or if you’re just barely familar with airplanes, you’ve heard of Lear Jets. The father of this amazing airplane was a man named Bill Lear. In 1964 he delivered his first production jet to a client. Lear’s success was immediate. But not long after his start, he learned that two aircraft he’d built had crashed under mysterious circumstances. At that time, fifty-five Lear Jets were privately owned and he immediately sent word to all owners to ground the aircraft until they could be inspected by his team.
As he researched the flights, he discovered he couldn’t verify the technical problem on the ground, so he took the bold move to diagnose the problem by flying it. He managed to make it through the dangerous test and verify the defect. He developed a new part and fixed all fifty-five planes, eliminating the danger.
Grounding the planes cost Lear a lot of money and it planted seeds of doubt in the minds of potential customers. As a result, he needed two years to rebuild the business, but he never regretted his decision. He was willing to risk his success, his fortune, and even his life to solve the mystery of those crashed–but not his intergrity.
I haven’t seen Lear’s financial statements, but it appears they are still going strong, even though the commercial airline industry is hurting. This man was visionary back in the 1950’s. I am intrigued by him–he was an aviation maverick. It’s funny that he invented the 8-track tapes too. Oh well, inventors can’t be successful with everything.
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