Word: bluhdorn
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Dates: during 1960-1969
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...David Judelson, a New Jersey machine-tool maker whom he had met on a vacation at Lake Champlain, N.Y., to put up another $50,000. Today Duncan, at 37, is G. & W.'s president and day-to-day administrator; Judelson, 36, is executive-committee chairman and production chief. Bluhdorn is the creator of new mergers and markets...
Chance in a Clutter. G. & W.'s power source is Chairman Charles Bluhdorn, 39, who has a hard-driving philosophy: "You have to break doors down-anybody can walk through them." A penniless World War II refugee from Austria, he began as a $15-a-week clerk in a Manhattan cotton-brokerage firm, rose to other jobs and founded his own coffee-trading office at 23. Within ten years he had made more than $1,000,000 buying coffee from the Brazilians and selling it to U.S. processors and chain stores. Casting around for a more stable business...
Where Credit Is Due. This troika, powered by loans from the Chase Manhattan and other banks, has bought up or signed exclusive contracts with 500 jobbers. Those who hitch to Bluhdorn's wagon get several advantages: G. & W. gives them national advertising, marketing advice and long-term credits. Most important, it sells wholesale parts made by other manufacturers as well as its own, and promises overnight delivery...