Word: kingan
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Indianapolis' 107-year-old Kingan & Co., Inc. was the seventh largest meat-packing firm in the U.S., but way down the list in profits. To jack them up, Kingan's directors lured H. Frederick Willkie, brother of the late Wendell Willkie, away from his $100,000 vice president's job at Joseph E. Seagram & Sons Inc., installed him as president. Kingan's conservative President "W.R." Sinclair agreed to step aside while Willkie worked on the patient...
Willkie agreed to a $60,000-a-year salary at Kingan because, he said, the job presented a "challenge." It did, in more ways than one. He found that his patient's profit margin was critically low (1½%). He decided to develop high-profit specialty products such as precooked ham loaf, meat spreads and sausages. Willkie also advised a streamlined administration, a big research program, improved sanitation controls and a heavy advertising campaign. The old guard objected to many of Willkie's expensive ideas. Says Willkie: "From the very outset, I [was] blocked and interfered with...
...Willkie spent money, profits slipped, and Kingan went into the red the last two quarters of 1951. The "palace guard" charged that Willkie was throwing money away. Willkie denied any extravagance, said that 1951's ratio of selling and administrative expenses to sales was .042% less than in the previous year. Retorted the Sinclair faction: manufacturing expenses rose about 19% during...
Last December, Sinclair decided that Willkie would spend no more money, sent him on a leave of absence. An "Independent Committee" of stockholders who were loyal Willkie men prepared to fight to the finish, even though the Kingan and Sinclair families owned 227,000 shares, or 29% of the stock outstanding...
...Kingan '01 has offered four challenge cups for yearly races by sail and motor boats, for Harvard and Yale graduates and undergraduates, from New London to a point yet to be chosen. These are to be sailed for the Saturday following the annual boat races on the Thames. The finish will prebably be off Oyster Ray, but the details have not yet been completed. In so far as they are, however, information may be obtained from the donor at 24 West Avenue, Norwalk, Connecticut...