Management Assistance, Inc. Stock Certificate (IBM Computer Leases)

Description

Management Assistance, Inc. Stock Certificate
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Management Assistance, Inc. was incorporated in New York in 1957 and was based in Westport, Connecticut.
The company was founded by Walter R. Oreamuno. Oreamuno, a native of Costa Rica, had landed his first job in the United States after winning an IBM problem solving contest. In forming Management Assistance Inc. (MAI), Oreamuno essentially invented the computer-leasing business. The business computer situation in the mid-1950s was completely dominated by IBM, which manufactured virtually all of the computers in use and leased them to the companies that used them. When IBM began to sell the computers in addition to leasing them in 1956 (under pressure from the Justice Department), Oreamuno recognized that a potentially lucrative role as middleman had opened up. Oreamuno and his associate, Jorge M. Gonzalez, approached IBM customers with an attractive offer: if the customer would buy the equipment from IBM, MAI would immediately buy it from the customer, then lease it right back to them at a rate lower than IBM was offering.
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