Word: brooker
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Dates: during 1960-1969
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...rhapsodies, but one special word about Procul Harum. They played two flawless sets on successive nights in front of the maedow. I remember them illuminated by the silvery-pink lights of the light show in the dark heat of the night crashing out their rapturous blend of music. Gary Brooker's expansively soulful singing, Robin Trower's eerie guitar, B. J. Wilson's deftly brilliant drumming, Fisher's streaking organ, and above it all the presence of Keith Reid who writes all the words, an enigmatic intricate personality, quite possible a troubled genius. Procul Harum are sobering and transcendental, allying...
Just over a year ago, Chairman Robert Elton Brooker of Montgomery Ward & Co. reached out for a major diversification in his effort to end Wards' long streak of low profits-and was rebuffed. Stockholders of Los Angeles-based MSL Industries Inc., with $116 million per year in sales of everything from industrial fasteners to electronic components, rebelled at fusing their young manufacturing company with a troubled old retailer. Last week Brooker found another possible partner, and this time his prospects looked a lot brighter...
Directors of Wards and Container Corp. of America, the largest U.S. producer of paperboard packages (1967 sales: $463 million) agreed to wrap their fortunes in the same carton by forming a holding company. With Brooker, 63, as chairman and chief executive, and Container Corp. President Leo H. Schoenhofen, 53, as president, the holding company would run both firms as autonomous subsidiaries retaining their own identities. Stockholders of both companies still must approve the combine, but Brooker cannily concocted a deal so sweet that Container shareholders, at least, should find it hard to spurn...
Even with Container Corp. in its fold (and combined revenues of $2.36 billion for last year), Montgomery Ward would still rank third in its field, well behind Sears, Roebuck and a bit below J.C. Penney. In his seven-year struggle to revitalize Wards, Tom Brooker has unabashedly borrowed many tactics from Sears, where he rose to a vice presidency for manufacturing before leaving in 1958 to head appliance-making Whirlpool Corp. He closed marginal outlets, invested much of Wards' pile of idle cash in big new suburban stores, revamped sagging catalog sales, upgraded merchandise lines, established long-term contracts...
Counting on Controls. Wards' long-awaited turn-around has barely begun. Last week Brooker made it clear that he is counting on Container for help. "The corporation has a fine record of training people in controls," he said. "We'll benefit from this." Even more important, by pooling their resources both companies will greatly reduce their vulnerability to takeover attempts by other suitors...