Word: steinkraus
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Dates: during 1950-1959
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...Detroit nightclub one night last week, the floor show was led by Michigan's Governor G. Mennen Williams and Bridgeport Brass Co.'s President Herman W. Steinkraus. Wearing white smocks, the two bore down on a 12-ft.-by-8-ft. white fiberboard elephant, proceeded to dab the elephant with pink paint. Then, some 550 Bridgeport Brass employees filed past, finished painting the elephant from trunk to tail...
...painting was to celebrate the way that Bridgeport's Steinkraus has turned a white elephant of a factory at nearby Adrian, Mich. into a healthy pink. Bridgeport Brass took over the plant 22 months ago (after five companies had leased it and given it up in rapid succession) to make aluminum forgings and extrusions, its first major venture into the aluminum business...
Soon after leasing the plant, President Steinkraus, a onetime...
Chamber of Commerce president, reminded an Adrian Chamber of Commerce meeting that his company, now the second biggest U.S. independent copper and brass fabricator, had been founded on land given by Circusman P. T. Barnum in Connecticut. Said he: "We knew how to handle elephants." After the meeting, Steinkraus started organizing a plantwide White Elephant Club to get the employees to work cutting costs, stepping up production...
During Bridgeport's first 15 months at the plant, the elephant stayed deathly pale. By mid-1955, losses totaled more than $1,750,000. But Steinkraus was still confident that he could make aluminum production pay. Last week the company was running in the black, and Bridgeport's elephant was getting rosier all the time. The company plans to buy the plant from the Air Force when its lease runs out in 1958, is thinking of adding a rolling mill and will nearly treble the number of its employees as it expands...