Word: schenley
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
DISTILLERS, who once bottled only their premium brands in decanters, are stampeding to get their lower-priced whiskies into decanters in time for the holiday trade. Schenley, first to bottle a blended whisky in decanters, has already had a 400% pickup in fall sales to wholesalers. But other distillers are close behind: Owens-Illinois Glass Co. is now making decanters for eight distillers v. only two last year...
Just as candidly, the defendants told the court why they had been so anxious to get rid of the boss: Jones, a great whisky salesman (he built Old Schenley's sales in Boston by passing out Blarney-stone rings to barkeeps as a sales incentive), had begun drinking so heavily that clients were complaining, and the agency had lost three big accounts. Moreover, the defendants charged that Jones paid $400 a month to two of his sisters for "premium ideas" which were seldom used by the agency, and $8,000 a year to a brother, Alfred Jones...
...results of all this started to show last year. While competitors (Seagrams, National Distillers) were setting records, Schenley's sales were at the lowest level ($450 million) since 1944. And this year, though all distillers are in a slump, Schenley is in a much deeper one. Recently its sales have been off 55% v. a drop of only 28% to 36% for Seagrams, Hiram Walker and National Distillers. Schenley's troubles and its vast expansion have caused the company to borrow $150 million, although its assets are greater than any other U.S. liquor company...
...Platoon. Last week it looked as if rven Lew Rosenstiel thought it time for a pick-me-up. At 61, he stepped out as president of Schenley (but stayed as chairman), and elevated a whole platoon of young Schenley reserves. Into the presidency went Ralph Taft Heymsfeld, 44, a Columbia-trained lawyer who joined the company 18 years ago and has specialized, as secretary and counsel, in fighting for fair trade and against high liquor taxes. Up to executive vice president stepped Treasurer Sidney Becker, 42, who started with Schenley during Prohibition...
...Schenley's new top team, pointing to the company's net of $22 million last year, insists that Rosenstiel will still be the boss, and that no big changes will be made. But Schenley now seems to have a somewhat healthier respect for the lowly blend, and may push its blends harder in the future. Says President Heymsfeld: "You can't sell a man a Cadillac when all he can afford is a Chevrolet...