Bette Nesmith Graham for USD $47.5 million in 1979. At the time, her company employed 200 people and made 25 million bottles of Liquid Paper per year. Bette Nesmith died on May 12, 1980, at the age of 56, in Richardson, Texas. From the start, Graham ran her company with a unique combination of spirituality, egalitarianism, and pragmatism. Raised a Methodist, Graham converted to Christian Science in 1942, and this faith inspired the development of her corporate "Statement of Policy". Part-code of ethics, part-business philosophy, it covered everything from her belief in a "Supreme Being" to a focus on decentralized decision making and
Michael Nesmith to put together a band. Nesmith said he would be interested only if noted pedal steel player Orville "Red" Rhodes was part of the project; Nesmith's musical partnership with Rhodes continued until Rhodes's death in 1995. The new band was christened Michael Nesmith and the First National Band and went on to record three albums for RCA Records in 1970. Nesmith has been considered one of the pioneers of country rock. He also had moderate commercial success with the First National Band. Their second single, "Joanne," hit No. 21 on the Billboard chart, No. 17 on Cashbox, and No.4 in