Word: kellstadt
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...Miami's big-building Mackle brothers, also has a flourishing outpost in Hong Kong. Last year it sold more than $1,000,000 worth of land, mostly to Chinese investors. Operating on a still larger scale is Miami's General Development Corp., whose chairman is Charles Kellstadt, ex-chief of Sears, Roebuck, and among whose major stockholders is Publisher Gardner Cowles. It reports $4,000,000-a-year sales of Florida realty to investment-minded Europeans and Latin Americans. The firm sometimes charters flights for foreign prospects, who get a $125 discount if they...
...spoken and shy to be chief executive of a bullish corporation like Sears. "I met him at dinner one night," says one Chicago businessman, "and it took me all evening to discover that he ran Sears." Inside the company, Cushman is not so reticent. Unlike retired Predecessor Charles H. Kellstadt, whose job he took over two years ago, Cushman delegates responsibility liberally and treats subordinates genially, but keeps a cold eye on profit and loss reports. "Men, merchandise, methods and money," he is fond of saying, "are the four Ms of Sears. Men come first...
...weeks ago in Los Angeles, Austin Thomas Cushman, 60, vice president in charge of the West Coast operations of Sears, Roebuck & Co., got a career-capping phone call from Sears Chairman Charles H. Kellstadt. Kellstadt, who four months ago reached Sears's customary retirement age of 65, wanted to know whether Cushman would like to replace him in his $158,000-a-year job. It was quite a prospect: Sears, the giant Chicago-based retailing empire, counts one U.S. family in three among its customers. Last year it racked up sales of $4.5 billion on 140,000 items from...
...Sell." Skipping over half a dozen other candidates, including President Crowdus Baker, 55, Kellstadt picked a successor who is remarkably like him self. Both Kellstadt and Cushman broke into retailing by working in dry goods and clothing stores owned by their fathers, both have headed one of Sears's five big regional divisions, and both wear clothes that look as if they come off the Sears racks (and do). New Mexico-born, Cushman left the University of California after his junior year to join Sears's archrival, Montgomery Ward, rose to a department manager in Oakland, but quit...
...friendly, and he has to be sincere. He has to know his product and believe in what he is selling." "We Can't Stop Trying." Cushman's chief job over the next three years will be to carry out a $210 million expansion program that is Kellstadt's legacy to Sears and an even more ambitious growth plan than General Robert Wood's $300 million, six-year (1946-52) expansion bet on a postwar boom...