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To hear Paul Woelbing tell it, all he ever needed to know about lip balm he learned from … motorcycles. Woelbing is the third-generation president of Carma Laboratories, the Milwaukee-based company that makes Carmex lip balm. As a man who literally grew up with the product (his grandfather mixed the first batches in his home kitchen in 1937 and sold them out of the trunk of his car), Woelbing could run the company without breaking a sweat—and in the early years, he didn’t have to.