Word: brennans
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What are the mathematical odds that two brothers would head the archrival retailers Sears and Montgomery Ward? Put away the calculators; it will soon happen. In June, Bernard Brennan, 46, takes over as boss of Montgomery Ward, where he was once an executive vice president. His brother Edward, 51, has been chief operating officer of Sears since last August, and will succeed Chairman Edward Telling later this year...
...soon slipped into the red again. The company was too big, too mismanaged, too out of tune with what consumers wanted. In 1981 Stephen Pistner, president of Minneapolis' Dayton- Hudson department store chain and a retailing wizard, was brought in to turn Montgomery Ward around. He hired Brennan, then chief executive of the Sav-A- Stop outlets in Jacksonville, to help him in the task...
...Pistner-Brennan team moved to reorganize the chain, eliminating 23,000 jobs, reducing the number of retail stores from 365 to 322, and cutting distribution centers from 150 to 33. In 1983 the company earned a paltry $40 million on $6 billion in sales, and last year it made $54 million on almost the same amount. In contrast, Sears earned $1.5 billion on sales of $38.8 billion. After launching the Montgomery Ward reorganization, Brennan left to run Household Merchandising, the company that embraces T.G.&Y. and Ben Franklin variety stores. The president's job at Montgomery Ward opened...
...Brennan plans to push forward the policies he helped initiate at Montgomery Ward. Says he: "I'm very excited about going back and continuing the strategies that we started when I was there before. Our real focus is on merchandise, improving the products we offer." To make Montgomery Ward more profitable, he will probably reduce the payroll still further from the present 78,000 and perhaps close as many as 300 of the 2,099 catalog outlets. He will probably concentrate the firm's efforts in the Midwest, its strongest region...
...change the balance on the court decisively, Ronald Reagan would have to name a replacement for Liberals Brennan or Marshall or sometime Liberals Blackmun or John Paul Stevens, seemingly in his prime at 64. During the 1984 campaign, both sides noted that the winner probably would join a short list of very fortunate Presidents--Washington, Jackson, Lincoln, Taft and Franklin Roosevelt--whom fate allowed to mold the court in their own images. For that reason, says Tribe, normally a critic of the Burger era, "I'm for mandatory life-support systems for the current court." But no such emergency intervention...