Word: hoffmans
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Dates: during 1940-1949
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Industrial Statesman. At South Bend, Paul Hoffman got to be a big shot. He and Studebaker Production Manager Harold S. Vance took over the company's management, as receivers, after President Erskine's attempts to buck the Big Three in the middle-priced field and to ignore the Depression landed Studebaker in the courts. By 1935 it was President Paul Hoffman and Board Chairman Vance...
After three years of planning-and a whopping 1938 deficit-Hoffman and Vance took a chance on the lightweight Champion. It put Studebaker back on its feet. Then came a share in the biggest job in history: war contracts, including a big order for Wright airplane engines, that will skyrocket its sales to around $350,000,000 this year...
While he turned Studebaker into "the leading independent," Hoffman became a sort of industrial statesman. He fathered the Automotive Safety Foundation, became a trustee of the University of Chicago, and of little Kenyon College in Ohio, where his eldest son went to school. He became a director of Chicago's Federal Reserve Bank; he was asked to make speeches and to represent industry in Washington powwows. Early in 1942 he organized an outstandingly successful $10,000,000 United China Relief campaign and he is still chairman of U.C.R. Since last June he has also been a director of United...
That, on the record, is Paul Hoffman: no world-shaking figure but a man who has done what he intended to do, and done it well...
During all this activity, Paul Hoffman began to discover that professors were people and that some were men of sound sense. He also began to worry about how to free U.S. politics from pressure groups, including the monopoly-minded business-as-usual bloc on his side of the fence...