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Richard Branson: Branson on Hold

One day Virgin Records founder Richard Branson called a low-cost carrier called People Express to book a reservation for a flight. He was promptly placed on hold -- and was left there for what seemed like hours. "Either," he thought, "they're incredibly busy or incredibly inefficient." In either case, he was inspired to launch a rival airline: Virgin Atlantic.

[Virgin started on a shoe-string budget: "We literally called up Boing," Branson recalled, "and said, 'We'd like to buy a second-hand 747.'"]

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