Word: wolfsons
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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...
...post of corporation secretary. He survived the great man's purges partly by knowing when to keep his mouth shut. When he disagreed with Avery it was always in private and in a courteous manner. Barr is popular with the staff, has even won a Wolfson accolade: "In my book, he's tops...
...Boss. At week's end, the first meeting of the new board showed clearly who was boss. The official tally of the proxy fight for control, announced last week, gave Wolfson enough votes to put three directors on the nine-place board...