The story of Harry Maragh
MY MOTHER operated a grocery store at the corner of East Avenue and Spanish Town Road for more than 40 years.
I attended Greenwich Primary School, where I developed the understanding of operating a business. I later attended Calabar High School and Humber College, where I majored in chemistry.
On returning to Jamaica and trying to decide what my next move would be, I saw an advertisement in The Daily
Gleaner for a shipping clerk from one of those prominent shipping companies in those days. I applied for the job and was employed initially for three months, and as
fate would have it, the owners were impressed with my performance and asked me to stay for a further three months.
I remained with the company for nine years. During that period, I learnt every aspect of the shipping/freight business. Shipping became my passion.
At that time, the shipping business was on a growth path with tremendous opportunity for expansion. My next opportunity to grow these skills was granted when I was offered a job with Lannaman & Morris Shipping Limited as a sales executive. This company stood out at the time with two of the finest shipping experts in both cargo and cruise shipping. I was promoted to sales manager, general manager and managing director over a 10-year period.
In 1996, the owners decided to retire and placed the company up for sale. There were many potential buyers, but in the shipping business, as with most servicing industry, you have to first consult with your principals for their approval.
That consultation took place and to my surprise, the principals made it clear that they would have to do their due diligence on whomever is chosen, but “if the business is sold to Mr Maragh, they would have no objections in working with him”. The owners conveyed the principals sentiments, and I decided to take the plunge.
How was I going to finance this acquisition was the big question?
TAKING THE RISK
I sold my house and borrowed the rest from a financial institution, which was willing to take the risk with a new owner. These included, but was not limited to: Convincing my fellow co-workers that I am the owner and not an employee anymore.
Convincing the industry players that an employee could assume the ownership of such a prestigious company and could make a success of it. Clearly I did, as within two years I was elected president of the Shipping Association of Jamaica.
When you represent the world’s largest containerised shipping line at the time and also the largest cruise operator, it requires the highest standards in operation.
You have to ensure that your staff is always on the cutting edge of technology and best practices, and all aspects of management must be employed.