Word: krider
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...Manhattan Edmund A. Krider, Ward's 43-year-old president, charged that Wolfson is hoping to rescue several of his own companies by taking over the mailorder house and forcing it to buy from Wolfson-run enterprises. Krider assailed Wolfson and his associates for taking 166,975 low-priced shares from one firm that they controlled (New York Ship: building) and trading them on an even basis for higher-priced shares in another Wolfson-run company, the construction firm of Merritt-Chapman & Scott. The deal, said Krider, netted them over $2,000,000. A reporter wanted to know what...
...Beating Krider into town by a day, Wolfson gave a new set of supporters, inluding Restaurateur Toots Shor, Jack Dempsey and Joe and Dom DiMaggio, a glowing report on the earnings and divi-lend records of his companies. Wolfson aid that he would propose a three-for-one tock split and a 40? quarterly dividend hat would bring stockholders $1.80 more han the present $3 rate. An uproar started when Lewis Gilbert, perennial heckler at many a stockholder meeting, jumped up shouting to be heard. Gilbert wanted o know how Wolfson could tell the press ast October that he controlled...
Situation Normal. One day last week, Sewell Avery called a three-man quorum of his executive committee without telling President Ball about his plans. In the office next day, Stu Ball got the shock of a lifetime. In strode Controller Edmund A. Krider, 40, with the word that Ball was out as president and that Krider was in. Sewell Avery let it be known that so far as he was concerned. Lawyer Ball had never got "comfortable" in his retailing job. But Ward employees gossiped that Stu Ball had simply become a mite too independent for the boss...
Such "normal" head-chopping of executives has made Montgomery Ward a merchandising oddity. Though it is the second largest general retailer in the world, not one of its top-echelon men has had solid retailing experience. Half of its six-man top operating committee, including new President Krider, came up through the accounting department-men who are scornfully referred to in the company as "scorekeepers." Sewell Avery has put most of the emphasis on cost-cutting rather than selling...
Donald A. Krider, of 806 E. Indiana, South Bend, a graduate of the James Whitcomb Riley High School...