Word: mahoney
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...David J. Mahoney, the ebullient, $350,000-a-year chief executive of Norton Simon Inc., looks like a movie hero, talks like a salesman in a hurry and is willing to go out on a limb. At the start of each of the past three years, Mahoney predicted that the earnings of the widely diversified food, drink and publishing company would increase by at least 15%. He has hit the mark every time. Now, bent on building N.S.I, into a consumer-products giant that would equal Procter & Gamble and Unilever, Mahoney has begun a major drive for acquisitions...
...fourth largest cosmetics firm, which has annual sales of about $200 million. The acquisition will give N.S.I. its first big footing in the nation's drug stores and in foreign markets. Max Factor's 23 international branches generate roughly half of the company's earnings. Mahoney, who believes that the firm has been run too cautiously under the control of the related Factor and Firestein families, plans to quickly extend the product line...
...acquisition is Mahoney's latest effort to shake up the corporation that he was chosen to run in 1969 with the strong support of Norton Simon, who put it together. Soon after, Simon sold out his interest to devote himself to art collecting. Mahoney, now 49, took charge of a loose group of enterprises-Hunt-Wesson Foods, Canada Dry soft drinks, Johnnie Walker Scotch and other liquors, Redbook and McCall's magazines, David Susskind's television-production firm (Talent Associates) and even companies that manufacture tin cans...
...Mahoney is a tough, demanding boss. Says Senior Vice President E. Garrett Bewkes: "We have put on 25% sales gains in some cases, but Dave will press for even greater improvement if he thinks the potential is there." Executives are ousted if they do not keep on pushing up sales and earnings. Mahoney has fired or otherwise replaced 60% of N.S.I.'s top management, and put in his own hand-picked people...
...record was broken by Dewey Hickman, who ran the high hurdles in 7.3 seconds. He was followed by two Eagles Dan Mahoney and Jim McVane...