Word: darte
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...system is as old-fashioned as a Stanley Steamer. It has two-thirds of its stores scattered where only one-third of the population lives. It invests only 2½% of product sales in advertising, well below many of its competitors. But last week greying, handsome President Justin Whitlock Dart, 51, announced that the firm's first-half sales were up 8%, net profit 26%. This year's volume should come close to $180 million and earnings should pass $5,000,000, the best in Rexall's 38-year history...
Rexall's progress spelled a personal comeback for Justin Dart, ex-wonder boy. When he took over Rexall in 1943 at 36, Dart became the hottest shot in the conservative drug business-until Rexall earnings dipped sharply in 1947. Dart owned up frankly to the board: "I know I look bad now. But before I look better, I'm going to look worse." Sure enough, things got worse...
...Rexall lost $1,250,000, and its stock plunged from a postwar high of $35 to $4. "Jus"' Dart, onetime All-Big Ten football guard (Northwestern '28 and '29), had fumbled by selling off too many of Rexall's outmoded, wholly owned stores before he could open enough modern Rexall franchise stores to replace them...
...snapped back by funneling cash from these sales into profitable projects. Dart established Riker Laboratories to manufacture ethical drugs; it now brings 15% of Rexall's profits. He invested heavily in the manufacturing division, now another 15% earner that turns out almost 4,000 different kinds of Rexall cosmetics, vitamins and patent medicines, including 77 billion tablets a year at its St. Louis plant alone. He buttressed the company's Rexall Division, which distributes 5,000 Rexall trademarked products, earns half of Rexall's profits...
...made a careful selection of artists, visited studios, often insisted on a particular painting. They decided on two free-form spontaneous doodles by the late Jackson Pollock, violent outbursts of vivid colors by Willem de Kooning, a melancholic mood piece by Grace Hartigan, harshly contrasting patterns by Richard Pousette-Dart. They added four morbidly humorous, squashed-face portraits by France...