Britain: Trouble in Never-Never Land

When Entrepreneur John Bloom, then only 30, offered 500,000 shares of his Rolls Razor Ltd. on the London Exchange two years ago, investors grabbed them at $3.50 a share. On Bloom's rising reputation and Rolls's rising washing-machine sales, the hot stock doubled. In recent weeks, however, London's City has buzzed about troubles at Rolls, and the price of the company's stock has fluttered wildly. Last week, just two years and 51 days after John Bloom's stock was listed, it fell with a mighty crash. Nine minutes before the exchange closed, Rolls announced...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!