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Five Private U.S. Firms

AMWAY continued to experience legal problems and slumping sales through 1986. AMWAY's revenues fell to $800 million from a high of $1.2 billion in 1982. These difficulties were largely the result of rapid growth and training not keeping pace with expansion (Hoover's Guide To Private Companies, 19941995, p. 26).

AMWAY brought in new personnel to clean house. The result was improved training procedures, new product lines, and a renewed dedication to the company's success. In 1989 sales rebounded to $1.5 billion and a $2.1 billion buyout offer from Avon was rejected. AMWAY has grown very successfully in China, Eastern Europe, and Pacific Rim countries. This appears to be because of the small startup fees. Starting at grass roots level and growing larger is what AMWAY does best (Hoover's Guide To Private Companies, 19941995, p. 26).

Arthur Anderson formed his first accounting firm, Anderson, Delany & Company in 1913. The implementation of the Federal reserve and the federal income tax helped to increase the demand for competent accounting services. Between 1913 and 1920 the firm gained well known clientele, including ITT, Briggs and Stratton, Parker Pen, and Colgate-Palmolive (Hoover's Guide To Private Companies, 19941995, p. 29).

During the 1920s Anderson's firm added more financial services and was in position to flourish during the Depres


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