Word: seagrams
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Dates: during 1980-1989
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...flush with oil profits have sought to use that money to buy mineral and mining firms. Standard Oil of California bid $4 billion for the 80% it does not already own of Amax, which has vast reserves of molybdenum, a metal used to make special steel alloys, and nickel. Seagram Co., the whisky distiller, which sold $2.3 billion worth of Southwest oil and gas properties last month, has offered more than $2 billion for St. Joe Minerals, a producer of lead and zinc...
...could the 29-year-old executive Wunderkind, who was forced to resign from Bendix Corp. last October, get back on the fast track at a major firm? No problem. After considering and discarding a flock of other offers, she last week accepted a "six figure" post with Joseph E. Seagram & Sons, Inc., a subsidiary of the Seagram Co., Ltd., the world's largest distiller (1980 sales: $2.5 billion). Her new position: vice president for strategic planning and project development, similar to the title she held at Bendix until her boss, Chairman William M. Agee, inadvertently fanned speculation that their...
...Seagram's offer came in mid-February. An executive recruiter working on Cunningham's behalf called Seagram President Philip E. Beekman and suggested an interview. Though the company had not had a strategic planning V.P.. Beekman and Seagram Chairman Edgar Bronfman were sufficiently impressed by Cunningham to better other offers she was considering, including one that reportedly would have made her president of a small firm. Said Cunningham: "I weighed several challenging opportunities, and this one is unique...
When Cunningham reports for work March 16 in Seagram's bronze-hued glass tower on Manhattan's Park Avenue, she will coordinate the company's wine ventures. They include Paul Masson and Gold Seal brands bottled in the U.S.; Barton & Guestier wines in France; vineyards throughout Europe; and the marketing for Christian Brothers Wine and Brandy...
Cunningham's Seagram job is a prize, but it may not equal the job she lost at Bendix. Agee had made her his top assistant in charge of planning the corporation's intended metamorphosis from a staid manufacturing and natural resources concern into a high-technology conglomerate. Seagram has a task of similar magnitude: it must invest the $2.3 billion that it reaped last year from the sale of its U.S. oil and gas properties. But Cunningham will not be directly involved in this enterprise...