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 President of the Gihon foundation, hosted the Council on Ideas, a gathering of intellectuals from different fields who were asked to identify the most important issues of their day and publish the result. The Gihon ceased the program in 2000 and started a new Program for the Performing Arts. Nesmith also spent a decade as a board of trustees member, nominating member and vice-chair of the American Film Institute. In 1992, Nesmith undertook a concert tour of North America to promote the CD release of his RCA solo albums (although he included the song "Rio", from the album "From a