Moravia IA Funeral Homes

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Gilbert Bowman Funeral Home

107 North John Street
Moravia, IA 52571
(641) 932-5197
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Moravia Funeral Chapel

105 North John Street
Moravia, IA 52571
(641) 724-3413
Moravia Funeral Chapel funeral flowers

Moravia IA Obituaries and Death Notices

John Paterakis, multimillionaire baker and Baltimore developer, dies - Baltimore Sun

Monday, October 17, 2016

He moved the business into its now-familiar Fells Point location in the 1950s. In 1965, he spent $1.5 million building an automated, state-of-the-art roll-manufacturing plant on Moravia Road for McDonald's before McDonald's officials knew who he was. He was betting that McDonald's would use his plant because it would make better buns than the competition did."Everything we've ever done, we've done on chance," Mr. Paterakis said. "You've got to keep spending money to keep updating to remain competitive. If you don't keep up, the big fish will eat you."His daughter Vanessa Paterakis Smith recalled driving with him to different supermarkets to check out competitors' breads."I knew he was doing it so he could improve his product," she said. "He was looking for the next current trend."Family members said Mr. Paterakis was humble. He rarely wore suits. For many years he drove a worn Lincoln with more than 200,000 miles on the odometer. Its engine was rebuilt three times. He lived in the same Timonium home for 46 years."He didn't have a big house, he didn't have a fancy car, he didn't go on extravagant trips, and he had the means to do that," his son Bill Paterakis said. "Instead he sank everything he had into Harbor East. Not many people would do that and take that kind of risk on Baltimore. …"He was a risk-taker, he was fearless, he was a visionary. He wouldn't look at why things wouldn't work, he looked at how things could work."His family said Mr. Paterakis was driven by traditional Greek values of working hard to provide for his family, many of whom continue to work in businesses he built.Mrs. Smith, his daughter, said he would often repeat the refrain, "Everything I did in my life I did for my children."Russ Bundy of Ohio, a lifelong friend who built a baking pan business with the help of Mr. Paterakis, said he was successful "because he was honest. People trusted him, people believed him, he didn't say things that wasn't right. … He was an old fashioned businessman with great character and great ethics."Michael S. Beatty, head of Beatty Development Group, called Mr. Paterakis "a perfect partner for real estate development. Like many, he enjoyed the excitement of a deal but, like few, he never ran away when times got tough. ... Many people know how tough he was but they probably don't realize how fair and generous he was at the same time. He was someone who really cared."Mr. Paterakis donated extensively to causes around Baltimore, including Greek businesses and the Ronald McDonald House charities. He was an active member of the Greek Orthodox Cathedral of the Annunciation on Preston Street, and was generous there and to the sever...

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John Paterakis, multimillionaire baker and Baltimore developer, dies - Baltimore Sun

Monday, October 17, 2016

He moved the business into its now-familiar Fells Point location in the 1950s. In 1965, he spent $1.5 million building an automated, state-of-the-art roll-manufacturing plant on Moravia Road for McDonald's before McDonald's officials knew who he was. He was betting that McDonald's would use his plant because it would make better buns than the competition did."Everything we've ever done, we've done on chance," Mr. Paterakis said. "You've got to keep spending money to keep updating to remain competitive. If you don't keep up, the big fish will eat you."His daughter Vanessa Paterakis Smith recalled driving with him to different supermarkets to check out competitors' breads."I knew he was doing it so he could improve his product," she said. "He was looking for the next current trend."Family members said Mr. Paterakis was humble. He rarely wore suits. For many years he drove a worn Lincoln with more than 200,000 miles on the odometer. Its engine was rebuilt three times. He lived in the same Timonium home for 46 years."He didn't have a big house, he didn't have a fancy car, he didn't go on extravagant trips, and he had the means to do that," his son Bill Paterakis said. "Instead he sank everything he had into Harbor East. Not many people would do that and take that kind of risk on Baltimore. …"He was a risk-taker, he was fearless, he was a visionary. He wouldn't look at why things wouldn't work, he looked at how things could work."His family said Mr. Paterakis was driven by traditional Greek values of working hard to provide for his family, many of whom continue to work in businesses he built.Mrs. Smith, his daughter, said he would often repeat the refrain, "Everything I did in my life I did for my children."Russ Bundy of Ohio, a lifelong friend who built a baking pan business with the help of Mr. Paterakis, said he was successful "because he was honest. People trusted him, people believed him, he didn't say things that wasn't right. … He was an old fashioned businessman with great character and great ethics."Michael S. Beatty, head of Beatty Development Group, called Mr. Paterakis "a perfect partner for real estate development. Like many, he enjoyed the excitement of a deal but, like few, he never ran away when times got tough. ... Many people know how tough he was but they probably don't realize how fair and generous he was at the same time. He was someone who really cared."Mr. Paterakis donated extensively to causes around Baltimore, including Greek businesses and the Ronald McDonald House charities. He was an active member of the Greek Orthodox Cathedral of the Annunciation on Preston Street, and was generous there and to the sever...