"A willingness to take risk is a major criterion for success."William Farley was born in Pawtucket, Rhode Island, where his father worked as a mailman and musician and his mother worked in a factory. As a youth, Farley contributed to the family earnings by delivering Sunday papers. Later, he worked for a toy manufacturer and as a lifeguard.
An excellent scholar/athlete in high school, Farley attended Bowdoin College. After graduation in 1964 with a degree in government, he decided to travel around the United States. When he found himself in Los Angeles and in need of money, he took a job selling encyclopedias door-to-door. Soon, his success made him a leading sales manager and national trainer. Changing direction, in 1966 he enrolled in law school at Boston College. He graduated in 1969 with a J.D. degree and joined the mergers and acquisitions department of NL Industries in New York City. After several years, he was transferred to Chicago to become a regional manager of NL’s metals division (which he subsequently purchased in 1982). In 1972 he joined Lehman Brothers as an associate in corporate finance.
Farley bought his first company, Anaheim Citrus Products, in 1976. In 1977, he acquired Baumfolder, a subsidiary of Bell & Howell. Farley also became a part owner of the Chicago White Sox in 1976.
Between 1980 and 1985, he purchased a number of diversified companies including Coal Creek Mining Company, Health Foods, Inc., The NL Industries’ Metals Group, and Northwest Industries (which included Fruit of the Loom). In the 90’s, his companies employed over 50,000 people and had sales of over $4 Billion.
Currently, Farley is CEO of Farley Industries (FI), the family holding company headquartered in Chicago. He is also CEO of Body Wise International in Tustin, California, a nutritional supplement marketer, and CEO of Unity Group LLC in Washington D.C., a private security force and defense contractor operating in high risk areas such as Iraq, Sudan, and Indonesia.
A firm believer that "management and owners sink or swim together," Farley respects all employees as partners and involves them in decision making whenever possible. Of his accomplishments, Farley says, "A willingness to take risk is probably a major reason for my success today. Many people could be as successful as I am, or more so, but for whatever reason they are unable to take steps that appear personally or financially risky."
Farley says his Horatio Alger Award "shows that anyone can pull himself up by the bootstraps. Working hard and seizing opportunities that come your way are the keys to making positive things happen."
"I am humbled and honored to be part of the wonderful group of Awardees and Scholarship winners of the Horatio Alger Association. I continue to be inspired and amazed at the incredible achievements of our Awardees. I am also particularly pleased to celebrate my 20th Anniversary as an Awardee this year. It’s been a great journey."
William F. Farley
Chairman and Owner
Farley Industries
Chicago, IL
Taken from: The Horatio Alger Association of Distinguished Americans
http://www.horatioalger.com/members/member_info.cfm?memberid=far86
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