Word: schwab
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Dates: during 1940-1949
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...some dope about them, not all of it straight. He noted that Gretchen Fraser, Olympic ski champion, had a 6-oz. gold trophy worth $210, that Movie Star Ann Sothern collected white Meissen figurines, that Joseph Toth, a Mansfield, Ohio gun collector had 35 fine machine pistols, that Schwab's Drugstore in Beverly Hills, Calif, stocked $200 gold lighters, that the E. L. Doheny home in Los Angeles had gold bathroom fixtures, and that "rich people live in Ten Hills, Baltimore...
Like his staff, Schwab puts in an 8:30 a.m. to 5:30 p.m. day, five days a week, sometimes takes work home to his apartment on Fifth Avenue or his country home in Westchester County. He smokes and drinks only occasionally, has no hobbies ("I play a little golf but not very well"), and seldom goes out evenings. He has a simple method for keeping his razor-sharp mind honed: "I just like to work...
...cutthroat textile business, Manhattan-born Jake Schwab fought his way up from scratch. He left high school at 16 to work at odd jobs. At 20, he got a $15-a-week stock clerk's job with Cohn-Hall-*Marx, a big textile converter. Young Jake had a knack for figures, studied nights to improve it. By 1928 he had risen to treasurer. In that year, Bankers Kidder, Peabody & Co. raised about $20 million to make Cohn-Hall-Marx the base of a textile pyramid integrating many different businesses in the cotton-rayon industry. The new giant was United...
...Deeds. When the war gave U.M. & M. its big chance to expand, shrewd Jake Schwab was ready. At war's end, he kept right on expanding. Now his empire includes 33 companies, stretches from the U.S. (twelve weaving and finishing plants) and Canada (one plant) to South America, where U.M. & M. now has three plants...
When the buyers' market came, Schwab was not caught napping. Since Robert Hall Clothes buys most of its fabrics from other mills and hires other manufacturers to make most of its clothes, it could pick up goods cheaply and make bargain deals with suitmakers. Thus it could balance off the slump in its own textile operations and go after the newly price-conscious U.S. consumer. Said Jake Schwab: "We're the A. & P. of the clothing business, and that's what the business needs most right...