Word: maxey
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...Purpose. Genesco was stitched together by Chairman Walton Maxey Jarman, 58, an introspective Baptist deacon whose favorite pastime is rereading the works of Thomas Mann. Impatient with the faults of others, Jarman also harbors a nagging concern that he may not understand himself, once took a battery of company psychological tests under an assumed name. The psychologists' verdict: Jarman was too shy and self-conscious ever to deal successfully with people, and would be a failure in management...
...high-priced Johnston & Murphy line can be quickly copied by Genesco's lower-priced lines. Nonetheless. Jarman insists that each division retain its own distinctive personality, and that division managers have wide autonomy. Says one Wrall Streeter: "Genesco gives a lot of leeway to the divisions, and Maxey runs around ready to throw the book at them if they don't perform." Echoes a Genesco vice president: "He gives you enough rope not only to hang yourself but everyone else as well...
...Still Poised. Despite its rapid growth, Genesco is a long way from Maxey Jarman's goal. It still does not make women's or children's coats, suits and dresses. Moreover, though total profits have increased 69% since 1955, per-share earnings have tailed off from $2.31 to $2.14-partly because Genesco issued new stock to acquire many of its subsidiaries. Genesco is currently lumping three of its retail men's-apparel chains into one overhead-cutting group, and Jarman predicts that per-share earnings will be up 50% to 75% within seven years. He insists...
...leaders if they felt that Christianity needed a new nondenominational magazine, not-so liberal as the old and prestigious Christian Century (circ. 37,500). Bell organized a committee of clerical sponsors, raised the capital funds from a number of millionaire Protestant laymen, including Oilman J. Howard Pew and Chairman Maxey Jarman of GENESCO, Inc., who still make up most of the magazine's annual $225,000 deficit. To edit the new magazine Graham's committee chose Baptist Professor Carl Henry, 49, of Fuller Theological Seminary in Pasadena. He agreed to take on the job for a year...
...plays guitar like nobody's business. Folks-Lyric, has released a series of discs made by blues singers at the Louisiana State Penitentiary at Angola. (The Penitentiary has since released some of the singers.) The best of these is titled "Angola Prisoners' Blues," and features Robert Pete Williams, Hogman Maxey, and Guitar Welch...