Word: breaded
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Fortnum & Mason is only the most elegant arm of this family's LONDON-based firm, which started out selling sliced bread...
...Britain the Westons are often referred to as the family that invented sliced bread. The founder of their retail business was a Canadian emigre, Garfield Weston, who created individually packaged loaves. His son Garry built publicly traded Associated British Foods (ABF) during the postwar years and acquired dozens of assets, including British Sugar and the luxury London store Fortnum & Mason. During Garry's 33 years at the helm, ABF's value soared by a factor of 30, and it is currently the biggest family-controlled company on the London Stock Exchange, with annual sales of $7 billion...
...Barilla family--whose pasta and bread company, based in Parma, Italy, dates back to 1877--hit a big snag in the early 1970s, when the third generation of family managers--brothers Pietro and Giovanni--quarreled and sold the business to W.R. Grace of the U.S. In 1979, however, Pietro bought back a majority stake, this time on his own, and started the company on a rapid expansion course. By 1993, when he died, Barilla produced 35% of the pasta sold in Italy. Now his three sons--Guido, Luca and Paolo--and their sister Emanuela are pushing aggressively into international markets...
...grabbed about 17% of the $1 billion U.S. pasta market. The company remains private, but whereas their father was reluctant to bring in outside capital, Guido and his brothers are more open to external finance. Last year, in its biggest transaction to date, Barilla acquired Kamps, a big German bread chain, for $1 billion--bringing in a bank to finance the deal. Randel Carlock, a professor at Insead, says the family "could have just sat in Parma and made pasta. But the younger generation saw the strategic opportunity...
...when he hit Wall Street in 1955, he had built a respectable brokerage in Cogan, Berlind, Weill & Levitt by 1969. He then swallowed Shearson, Hayden Stone and other houses before selling the whole shebang in 1981 to American Express. By 1985, when Weill lost a power struggle with white-bread Amex CEO James D. Robinson III and was ousted as president, it wasn't because Weill was Jewish. He was just outmaneuvered. And he left as a multimillionaire. It's difficult for Langley to set a good sob story at Weill's palatial New York City apartment, his Greenwich, Conn...