Word: schaffner
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Dates: during 1950-1959
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...Fourth-of-July orator, so the oft-told story goes, was delivering a speech about Washington, Jefferson and Lincoln when, ready for the windup, he forgot their names. Glancing quickly toward the notes stuffed in his inside coat pocket, the flustered speaker hurriedly praised "those great American statesmen, Hart Schaffner and Marx...
Chicago's 57-year-old Meyer Kestn-baum, who has probably heard the yarn more often than anyone else, still laughs every time he hears it; it is part of his job. As president of Hart Schaffner & Marx, he heads the biggest men's ready-to-wear company in the nation (1953 sales: $69 million). In the U.S. suit-and-coat industry, giant H.S. & M. does more business than the next four companies combined. To run the big company, Meyer Kestnbaum needs only one brief-.case; but he keeps four others packed full of work on a long...
Responsibility Taker. Since last spring, Kestnbaum has been dividing his time about equally between Hart Schaffner & Marx in Chicago and the President's Intergovernmental Commission (charged with studying the whole range of federal-state relationships), which he took over when Clarence Manion resigned (TIME, May 3). In between, he has sandwiched time for the many other posts he holds: chairman of the Committee on Economic Development, director of the Ford Foundation's Fund for the Republic, director of the Chicago Community Fund and of the Great Books Institute, overseer at Harvard. Says Kestnbaum: "If you'll accept...
Last week versatile "Kesty" Kestnbaum accepted some new responsibilities. On a royalty deal, Hart Schaffner & Marx took over the Society Brand line of men's suits, thus trimming down the Big Five of the business to the Big Four.* In the men's clothing trade, it has been no secret that Society Brand is dying on the vine, has eked out a slim profit over the past four years only by virtue of tax carrybacks and rebates from more prosperous years. Kestnbaum plans to sink $2,500,-ooo into Society Brand over the next year to rebuild...
...countryside-fear of the peasant bands and Communist partisans whom the government had called out to patrol roads, to search houses and arrest anti-Communists and other "traitors." Many of these barefoot supporters of the Arbenz regime obviously knew as little of Marx as they did of Hart & Schaffner, but many of them had got land under the agrarian program, and they could be counted on to defend it ferociously. Men like that who get weapons in their hands do not turn them back meekly; Guatemala would probably hear of them again...