Gary Lane
Strategic Concepts & Mechanics
Primary Evidence
"The faces of New Zealanders such as Alan Gibbs, Trevor Farmer, David Richwhite, Michael Fay, Bruce Judge, Bob Jones, Gary Lane and Allan Hawkins were, for a time, as familiar as our biggest sports stars."
"Rainbow did work out, however, and spectacularly so. Between May 1984 and July 1987 it was as though fertiliser and warm rain had been applied to the newly seeded companies on the New Zealand Stock Exchange. Most flourished. Rainbow morphed from a small leisure company to a significant corporate player. The company that had been worth $6 million when it listed in 1984 was worth $600 million by July 1987. Along the way it bought bigger and bigger assets for higher and higher prices. Talented people joined Rainbow including Gary Lane, who had been a partner at Coopers & Lybrand, and Lloyd Morrison from the broking firm Ord O’Connor Grieve. As the share price rose, the company would place more shares to raise more capital to fund more acquisitions. It also took on more and more debt."