Word: axelrod
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Last week Joe Axelrod's personnel department at the headquarters of his textile empire in Woonsocket, Rhode Island was still sorting and classifying the mail as it came in, and he was answering it as fast as he could. Said he: "Holy cats! I never dreamed a story could stir up such a response. One day you're quietly doing business in the same old way; the next you're a national figure with mail and telegrams pouring in from all over the hemisphere...
Joseph H. Axelrod, 31, was one of the first New Englanders to have a telephone in his automobile. He needed it. As boss of six textile mills in four cities in Massachusetts and Rhode Island, plump, hustling Joe Axelrod made the rounds every day, and he liked to keep in touch. Last week, Joe Axelrod added a fifth city (Providence) to his tour, a seventh plant (the Damar Wool Combing Co.) to his holdings. Even for a young man who likes to keep moving, Axelrod had moved far. In 9½ years he had parlayed $5,500 into an integrated...
Like many another textile man who has looked like a genius during the boom, Joe Axelrod's real test will come with the return of cutthroat competition when the boom ends. He thinks his company is solid enough to withstand the shock. Last year, on gross sales of $37 million, net profits were some $5.5 million...
Regarding Mr. Axelrod's suggestion that ex-Presidents serve on a foreign relations committee [TiME, July 24] and Thomas Toberty's nai've backslap [TiME, Aug. 14], I'd like to present the problem in a more factual manner...
...AXELROD Cleveland, Ohio...