Charles is co-founder and past chairman of Michaels Stores, Inc., the nation's leading arts and crafts retail chain operating over 1,000 stores in 48 states and Canada. Michaels was sold in 2006. He was a founder and served as vice chairman for 16 years of Sterling Software, Inc., an international computer software company, and he served as a director of Sterling Commerce, Inc., a global provider of electronic commerce software products and network services, until their sale in March 2000. Additionally, he was a founder of Maverick Capital, Ltd., an investment management firm. Charles was also a founder of USACafes and, for 23 years, active as a director of this franchisor, which built the Bonanza Steakhouse restaurant chain to over 600 units before the business was sold in October 1989. He was a co-founder and, for 13 years, chairman of the board of Earth Resources Company, an oil refining and mining company, until it was sold. From 1964 to 1977, Charles was with University Computing Company, a computer software company, in various capacities including president from 1969 to 1973. His career began with eight years at IBM. Charles received his degree in business administration from Louisiana Tech University and, in 1968, was named Alumnus of the Year. He served the federal government when he was appointed to the President's Advisory Council for Management Improvement and worked with the State of Texas as the founding chairman of the Texas High-Speed Rail Authority. His civic posts include chairman of the Communities Foundation of Texas Board of Trustees; member of the National and the Dallas Advisory Boards of The Salvation Army; member of the board of directors of the Dallas Center for the Performing Arts Foundation, the Dallas Theater Center, Southern Methodist University's John Tower Center for Political Studies and its Cox School of Business, the Dallas Symphony Orchestra and Lakehill Preparatory School; and chairman of the Advisory Board of St. Alcuin Montessori School. Prior civic and community service includes chairman of the Dallas Advisory Board of The Salvation Army and its $10 million Dallas-Fort Worth Metroplex Capital Campaign; chairman of the board of the Dallas Theater Center; and director of the United Way of Dallas, the Dallas Museum of Art, the Dallas Summer Musicals, and TACA, a nonprofit organization benefiting the performing arts in Dallas. He is married to Caroline "Dee" Wyly and they have four children — Martha Miller, Chip Wyly, Emily Wyly and Jennifer Lincoln; and seven grandchildren — Trey, Carla, Christopher and Dulaney Miller; Wyly and Jessica Lincoln; and Meghan Lindsey.