Word: magowan
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Dates: during 1960-1969
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Like many of the man's longtime friends, Safeway Stores Chairman Robert A. Magowan marvels at the way Jack Straus "still thinks of Macy's in the same terms that most men think of wives and honor." Or, he might add, of family. One of the great U.S. retailing baronies, R. H. Macy & Co. has thrived 'under three generations of Strauses, none of them more successful than "Mr. Jack," who has held sway over Macy's headquarters in Manhattan's Herald Square for three decades...
...Goofed." After joining Merrill Lynch in 1946, fresh from South Pacific service with the Marines, he went through the firm's sales training program and caught the eye of the then sales-promotion chief, Robert Magowan. While other graduates were sent out to run branch offices, Regan remained behind at the 70 Pine Street headquarters for increasingly responsible administrative jobs...
...Ever since California-based Safeway Stores Inc. invaded the East Coast in the early 19405, its 164 New York City area supermarkets have been consistent money losers. Last week Chairman Robert Magowan, 57, sold off the New York stores for an estimated $25 million to First National Stores Inc. The sale was part of Magowan's tough-minded drive to streamline Safeway, which with 2,216 stores is the nation's second largest (after A. & P.) retail food chain. Since he took command at Safeway in 1955, Magowan has sharply pared headquarters staff, ruthlessly closed obsolete stores...