Word: tomatoes
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...Your report on two outstandingly successful businessmen in the Aug. 23 issue indicates that today's leaders have as little leisure time as a bondsman in the days of feudalism. Tomato Man Norton Simon "works seven days a week," and the Italian textile magnate "Bassetti works a 16-hour day seven days a week." Long hours are still apparently a most important ingredient in the successful business administrator's makeup...
...whatever name it is called, Norton Simon's drive is impressive. Though tomatoes still account for nearly 25% of Hunt's sales, Simon has relentlessly expanded the company's horizons over the past decade, raised its sales from $82 million to $400 million. Hunt is now the largest refiner of cottonseed oil in the U.S. (Wesson Oil), the nation's second-biggest matchmaker (Ohio Match), the largest paint manufacturer and distributor in the West (W. P. Fuller), and the' West's second-largest maker of glass containers. It also owns important interests in areas...
...grocery chains by stopping Hunt's longtime private-label canning for them to push products under Hunt's own name. After the war, he decided that the best way to make Hunt known Nationally was to concentrate his advertising and promotion on a single item. He chose tomato sauce, and launched a major campaign that eventually captured half of the U.S. market for Hunt...
Since Hunt had distributed millions of tomato-sauce recipes printed on paper matchbooks, it seemed only natural to Simon to buy up the company that made the matches: Ohio Match. That led him into lumber investments, and at roughly the same time he logically acquired companies that could make his cans and bottles, lithograph his labels and use his tomatoes for catsup. His biggest merger came in 1960 with Wesson Oil & Snowdrift Co., and last year Simon took over W. P. Fuller. While studying rotogravure printing for Ohio Match, Simon got interested in McCall Corp., bought a 36% interest...
...Picasso and Hans Hofmann. He serves on the University of California board of regents, and takes his intellectuality seriously, avoiding such normal business fare as cocktail parties and public functions. He and his wife like to give small dinners, at which the conversation is never as lowly as a tomato and the latest trends of philosophy provide the sauce. At home or at work, Norton Simon keeps busy at what he likes to call "the process of becoming...