Word: strause
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Like many of the man's longtime friends, Safeway Stores Chairman Robert A. Magowan marvels at the way Jack Straus "still thinks of Macy's in the same terms that most men think of wives and honor." Or, he might add, of family. One of the great U.S. retailing baronies, R. H. Macy & Co. has thrived 'under three generations of Strauses, none of them more successful than "Mr. Jack," who has held sway over Macy's headquarters in Manhattan's Herald Square for three decades...
Last week, at 68, Straus stepped aside, leaving Macy's without a Straus in command for the first time in 80 years. Acting out of a conviction that "any organization has to make room for younger men," he passed most of his duties to a pair of carefully groomed, if nonfamily, successors. Macy's new chairman is Donald B. Smiley, 53, a lawyer and finance expert who has been vice chairman since 1966. The current president, Ernest L. Molloy, 62, succeeds Straus as chief executive...
...Archetype. As befits the familial heir,* Straus is not about to assume "a pensioner's schedule." He will head Macy's six-member executive committee, act as third man with Smiley and Molloy in a policy-making triumvirate...
...Under Straus, Macy's has never been a one-man organization. Nonetheless, just as the Macy's customer has become the prototype of the shopper, Straus has become the archetype of the shrewd retailer. Straus zeroed in on what he called his "bull's-eye" (middle-income) clientele, liked to stalk around the floors to check on the sales people and inspect the merchandising for taste...
...First Circle .? The second novel is Cancer Ward, based on the author's own struggle with cancer. It employs the familiar device of the hospital as microcosm of a sick world. Versions are being published in Britain by the Bodley Head and in the U.S. by Farrar, Straus & Giroux and Dial Press. The appearance of these works is a literary event of the first magnitude?and inevitably a major political event as well...