Word: pabst
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Dates: during 1950-1959
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...Pabst Brewing Co. has sponsored so many TV boxing matches that its name has practically become synonymous with fighting. Last week Pabst reluctantly sponsored one more fight-the first proxy fight in its 94-year history. The ring was a igth-floor hall in Chicago's Merchandise Mart. In one corner was short, pudgy Pabst President and Chairman Harris Perlstein, wearing grey suit, tan shoes and grey tie. In the other, the challengers: Robert and David Pabst, the grandsons of the Pabst founder, Fred Pabst, and Otto and Carl Spaeth, son and grandson respectively of the founder of Premier...
...Pabst-Spaeth group blamed Perlstein for the fact that the company has dropped from No. 1 in 1949 to eighth among U.S. brewers, last month reported a loss for 1957 of $2,871,200. The stock has dropped from 32 to 4. Fearing for their 25% share of the stock, the Pabst brothers enlisted the aid of the Spaeths to unseat Perlstein as president at the annual meeting...
Easy Victory. When the bell rang last week, Perlstein swarmed all over the opposition, won an easy knockout. His slate of directors polled 56% of the votes cast. After the count, the vanquished did not even get the chance to speak; when David Pabst tried to make a statement for the record, Perlstein cut him off-in the interest, he explained, of a brief meeting...
Behind the fight was a longstanding feud between Perlstein and the Pabst family. Perlstein was president of Premier Malt when it took over the old Pabst Corp. in 1932 in anticipation of Prohibition's demise. He became president of the new Premier-Pabst Corp., and Fred Pabst, son of the founder, later became chairman. Perlstein led the company through its period of greatest growth and profitmaking, saw it reach its biggest year in 1949 with a sales peak of $168,994,000. But Perlstein soon found himself hurt by his own success. Hit hard by the steadily flattening beer...
Relative to your article on Pabst and the parson [Oct. 17]: beer is not the drink of moderation but the drink of special privilege. The whisky drunk goes to jail; the beer drunk goes free. The whisky drinker pays excessive taxes; the beer drinker pays almost none. Beer is respectable, and can be advertised on television; whiskey is too evil to be mentioned on this medium. Why not face it? If whisky is bad, beer is bad; if beer is good, then whisky is good...