Word: wolfson
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Dates: during 1950-1959
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Clarke's plan, hatched while Louis Wolfson launched his unsuccessful bid to control the company, was to arrange a merger with Allied Stores Corp. It seemed like a natural: Allied had young executives and expansion plans; Ward had the cash. Avery could announce the deal and ascend gracefully into the honorary chairmanship, assured that Ward was safe from Wolfson...
...coming John Barr. Also slated for ouster: Edmund Krider, 42, an ex-accountant picked as $76,000-a-year president by Avery in 1952, who was considered to possess Avery's ruthlessness without either his charm or ability. The directors tackled Avery again, suggested that having won over Wolfson, he retire at his peak. Avery again refused, saying that the meeting proved he had a new mandate to continue...
...respect for Barr rose at the way he masterminded Ward's fight against the War Labor Board, which included the famed carrying-out of Avery by the Army. Under Barr, the union was kept out of Ward. Recently, when Avery needed the A.F.L. Teamsters' support against Wolfson, Barr was just as effective at making a deal with the union (TIME, April...
...lyrics by Stella Unger are similarly undistinguished. (A representative sample went something like, "I'll fly from the blue horizon/ to the isle of I-love-you.") Miss Unger also co-authored the book, together with Victor Wolfson, basing it on a memorable old tear-jerker of a play which was later made into a movie. The present rehashing of the story about a World War I affair between a chanteuse of doubtful reputation and a Parisian sewer-cleaner has lost most of the pathetic appeal of the original. Instead, the authors introduce a trio of prostitutes for comedy relief...
...point, his purpose accomplished, Louis Wolfson rose, oozing charity, and asked an end to the bull-baiting. "It seems that Mr. Avery is not in a position today to conduct this meeting," he said. "I will appreciate it if you will accept Mr. Barr as chairman." Then, in an aside, Wolfson told reporters: "This is the greatest corporate fraud ever perpetrated...