Word: midasized
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> Prince Mohamed, another son of Faisal and a business-administration graduate of Menlo College in California, is the chief of Saudi Arabia's water-desalination agency. He must grapple with his country's Midas-like curse: wherever explorers drill for water, oil shoots up. The prince directs a...
Founded by Chicago Entrepreneur Nate Sherman, Midas long thrived as the number of its franchised dealers increased steadily over the years. But after Nate's son Gordon took over in 1967, a father-son conflict arose. Gordon was a University of Chicago intellectual and partial to Elizabethan English and...
The new chief executive, a former Purdue University football star, began an aggressive program of international expansion. When he assumed command, Midas' only operation outside the U.S. consisted of a handful of muffler outlets in Canada. Now Midas has shops in eight foreign countries, and Weiger expects up to...
Weiger also enlivened Midas' sleepy travel-trailer business, which the company acquired in 1965. The fuel crisis that followed the 1973 Arab oil embargo dealt recreational-vehicle sales a heavy blow, but Weiger took advantage of the downturn to mass-purchase chassis and their components. When the shortage passed...
Weiger now boasts that with its new product balance, Midas-International can hardly lose whether the economy goes up or down. If times are hard, he says, people fix up their old cars and replace the mufflers. If the economy booms, so do sales of Chopped Vans. Still, Weiger is...