Word: millions
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Dates: during 1960-1969
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...Merle H. Banta, two young (35) former management consultants, set up Los Angeles' Leisure Group, Inc. in 1964 on the notion that they could do better than the "inventors, hobbyists and amateurs" in the business. They have. Among the seven outfits picked up by Leisure (1967 sales: $10 million) is Philadelphia's S. L. Allen & Co., whose famed Flexible Flyer sled, introduced in 1889, could claim nearly 100% of the market in the early 1900s. Leisure bought Allen, which had been on the skids for years, for a $1,760,000 pittance, then broadened Allen's product...
...neither seek nor accept clients," says Partner Jay A. Pritzker. "There would be too much conflict of interest and not enough time." That is quite an understatement. By astutely minding their own business, the entrepreneurial Pritzkers have put together a portfolio of business interests with assets approaching $500 million. The Pritzkers-Jay, Brothers Robert and Donald, plus Father Abram and Uncle Jack-run one of the nation's largest and least-known family enterprises...
Among the holdings they control from their law offices are the Marmon Group Inc., a diverse collection of businesses that last year had sales of $79 million, and the Colson Corp. ($12 million), a maker of food carts and other equipment. They also own a myriad of smaller companies in the U.S., Canada, Britain and Australia involved in mining and agricultural equipment, cement and fertilizer. Then there are 400,000 acres of timber and farmland in the South and Northwest, plus housing developments and shopping centers in Chicago, Las Vegas and Puerto Rico...
...owned Hyatt Corp., which in twelve years has grown from a single unit to a chain of 14 hotels and 40 motels. Run from headquarters in Burlingame, Calif., by Donald Pritzker, 35, Hyatt increased its earnings last year by 78% over the year before, to $1.5 million...
Though far smaller than such chains as Sheraton (1967 revenues: $286.6 million), Hyatt has achieved a growth rate that Don Pritzker claims is "tops in the industry." By keeping to key locations near airports and in downtown areas where hotel business is already booming, the chain hopes to keep that growth continuing. This year alone Hyatt is building ten more motels and expanding its standout success, Atlanta's handsome and unusual Regency Hyatt House. Little more than a year old, Regency House has already become a major Atlanta attraction. Its interior balconies rise 22 stories around a glass-roofed...