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Only three years ago, the biggest and oldest family-led company in America, E.I. du Pont de Nemours of Wilmington, Del., was hip-deep in family troubles. Chairman Lammot du Pont Copeland was bogged down in his son's spectacular personal bankruptcy and other problems, and Du Font's industrial stature was sliding. So "Mots" Copeland was eased aside for Charles
Brelsford McCoy, the first chief executive in the chemical giant's 171-year history to have no direct Du Pont family ties. Under "Brel" McCoy, profits rose smartly, from $334 million on sales of $3.6 billion in 1970 to $414 million on sales of $4.4 billion last year...
...startling turnabout dates from 1970, when the former public relations man died. Richard P. Sanger, 42, became president and editor in chief, and John G. Craig Jr., 39, became executive editor. Both had risen through the ranks; both had suffered restrictions that discouraged criticism of the Du Pont family, company and philanthropies. Because his wife is connected to the Du Ponts, Sanger may have struck company officials as safe. "If they thought that," Sanger says, "they made a mistake...
...blue jeans. But changes went deeper than counterculture cosmetics. Sanger and Craig overhauled layout, expanded coverage of national politics far beyond the scope of most small-circulation papers (89,000 for the Journal, 47,000 for the News). They encouraged investigative reporting, including a series charging that Du Pont properties were receiving favorable property-tax assessments (the company denies...
When Ralph Nader released The Company State (1971), a report attacking Du Pont influence in Delaware, the papers gave the document heavy play. More recently, Reporter David Warsh, 28, was sent to Washington to cover Securities and Exchange Commission hearings on the proposed merger between Du Pont and Christiana Securities, the holding company through which the family owns the papers. Warsh's coverage was so acerbic that, as one Du Pont man bitterly put it, the reporter became an instant "folk hero...