Word: pabst
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Dates: during 1950-1959
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...story was preposterous. To promote the brewing of its 100 millionth barrel of beer, Pabst flew a delegation back to the tiny German village of Mettenheim, birthplace and first malting grounds of Company Founder Jacob Best. The idea, chuckled a frank Pabstman last week, was "blatantly commercial...
...Even so, Pabst had no trouble getting the press to go along with the story. In fact, 63 newsmen went all the way to Mettenheim and back on the trip. Resuit : a classic example of the big-business press junket that plys the newsmen with free food, drink, travel and entertainment in exchange for his weary-eyed presence at trumped-up events ranging from the re-enactment of the ride of Paul Revere (American Airlines) to a "bake out" in Paris (Pillsbury Mills). "Beverage of Peace." In U.S. journal ism the junket has become an institution ranking somewhere between...
When Fred Pabst retired in 1954, leaving the company without a Pabst as an officer for the first time in 90 years, the Pabst family increased pressure on Perlstein to bring in a new man to run the company. Perlstein brought in as president Marshall S. Lachner, a vice president of Colgate-Palmolive Co., kept the chairmanship for himself. But Lachner failed to halt Pabst's sliding sales, and in 1956, for the first time in its history, the company showed a loss. Last fall Perlstein got Lachner's resignation, took over as president as well as chairman...
...merger talks while the proxy fight was brewing, but Pepsi President Alfred Steele broke off the talks when he saw that the fight was inevitable. Steele, who took over Pepsi when it was floundering and sent sales and profits soaring, apparently felt he could do the same for Pabst; Pabst also stood to gain by Pepsi's crack management and salesmanship...
...Pepsi merger does not work out, Perlstein is thinking of consolidation with some other company. "This is the type of move.'' he says, "that would be quickly beneficial." And even Winner Harris Perlstein recognizes that Pabst needs something beneficial in a hurry...