Word: kingan
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Dates: during 1950-1959
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Electric Ham. Electrostatically smoked hams were put on sale by Indianapolis' Kingan Inc. First baked in infra-red ovens, the hams are then carried through smoke-filled tunnels in which meat and smoke are oppositely charged so that the hams electrostatically attract as much smoke in four minutes as they would in twelve hours in the smokehouses that are usually used, giving the hams a notably mild and sweet flavor. Price...
...grubbing for money," he says. "I am painting a picture as a life work. Every day I put in a brush stroke or two." Last week Slotkin added the boldest stroke of all to his canvas. Into Hygrade (1952 sales: $137 million) he merged Indianapolis' Kingan & Co. (sales: $214 million), thus became the fifth largest U.S. meatpacker...
...packaged meats through delicatessens. Slotkin also pushed processed, ready-to-eat meats, today the main pillar of Hygrade's business. In his zeal to spread such time-saving benefits to every housewife, Slotkin was hampered by Hygrade's lack of outlets west of Chicago. Thus when Kingan's management split hopelessly over operating policies (TIME, March 3, 1952), he spotted a bargain. A year ago, Kingan's owners were glad to take Hygrade's offer of $6,500,000 for 94.1% of Kingan's stock...
...buying Kingan, Slotkin had bitten off a big chunk of troubles. But last week Slotkin was sure that, by such economies as combining the two firms' sales forces, he would soon have Kingan on a paying basis. Eventually, he estimates, the merger should mean a $500 million annual gross for Hygrade. Exuberant over this gratifying prospect, and incidentally to persuade Kingan minority stockholders to exchange their shares, Slotkin last week declared a 100% stock dividend for his Hygrade stockholders...
...victorious 67-year-old President Sinclair once again bossed Kingan, he recalled: "I started as a meat cutter . . . at ten shillings a week. I didn't like that kind of work, so I figured if I had to be in business, I might as well be boss...