S4: EP 18 Tim Rogers - Founder and CEO of The Thermal Club

ARCO was great training.

Yeah, I bet it was.

And all those five jobs ever get fired? No.

always got promoted or you moved on to something else?

Yes, I was there and they brought me in and the people that worked for me made twice as much salary as mine when I came down at Arco.

They've been there many years.

What do you think made you be noticed, given raises or promotions or other companies wanting to hire you? What did you learn in those five jobs that you think kept you growing? What were some of

those traits? Well, I would say you get the job done.

You're not lazy.

You research what you're doing.

Like one example at ARCO, My ex-wife was in, she was a manager of banking operations.

She worked for the controller.

But then the financial institute, the API, American Patrolling Institute, they had a letter of credit form down in Florida.

They wanted me to be on the panel because I was most knowledgeable on the letters of credit.

Right,

right.

So what I would do is, before the receivables, when I got there, they were two billion and they were, 80% past due.

In fact, at that time, interest rates were 20%.

So in the early 80s.

So Ronald Reagan was there and then he decontrolled oil.

But the thing with that is I went in, I went out and met with Bank Paribas, flew back to New York and met with them.

They were the largest trade finance bank in the world.

I think they still are.

And so I said, well, give me a letter of credit that's drawable so I can send out to my suppliers or my customers.

And that'll be what we do.

ARCO was great training.

Yeah, I bet it was.

And all those five jobs ever get fired? No.

always got promoted or you moved on to something else?

Yes, I was there and they brought me in and the people that worked for me made twice as much salary as mine when I came down at Arco.

They've been there many years.

What do you think made you be noticed, given raises or promotions or other companies wanting to hire you? What did you learn in those five jobs that you think kept you growing? What were some of

those traits? Well, I would say you get the job done.

You're not lazy.

You research what you're doing.

Like one example at ARCO, My ex-wife was in, she was a manager of banking operations.

She worked for the controller.

But then the financial institute, the API, American Patrolling Institute, they had a letter of credit form down in Florida.

They wanted me to be on the panel because I was most knowledgeable on the letters of credit.

Right,

right.

So what I would do is, before the receivables, when I got there, they were two billion and they were, 80% past due.

In fact, at that time, interest rates were 20%.

So in the early 80s.

So Ronald Reagan was there and then he decontrolled oil.

But the thing with that is I went in, I went out and met with Bank Paribas, flew back to New York and met with them.

They were the largest trade finance bank in the world.

I think they still are.

And so I said, well, give me a letter of credit that's drawable so I can send out to my suppliers or my customers.

And that'll be what we do.