Word: lakewood
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Dates: during 1980-1989
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Talk about coals to Newcastle. By January, Lakewood Industries of Hibbing, Minn., plans to be exporting chopsticks to, of all places, Japan. The new company will produce the sticks from the area's abundant aspen trees. Projected first-year revenues: up to $8 million. Lakewood has presold its first five years of production to three Japanese restaurant suppliers, who have been unable to obtain enough sticks from Asian manufacturers. Japan's demand for the disposable chopsticks is nearly insatiable: 20 billion pairs a year...
Hibbing, a community of 20,000 that is probably best known as Bob Dylan's hometown, has been hurt by the decline of the region's taconite mining. The town gave Lakewood, which is creating 95 jobs, a site in a new industrial park, despite fears that the Japanese would never accept American-made chopsticks. But Hibbing's mayor Dick Nordvold predicts that if chopstick sales falter, Lakewood can make Popsicle sticks and tongue depressors...
...well as two summer camps in New Jersey. After graduating from N.Y.U. at 18, Larry earned a master's degree in industrial engineering from the University of Pennsylvania. In 1946, after his brief stay at Harvard Law School, Larry and Bob persuaded their father to help them buy a Lakewood, N.J., resort hotel called Laurel-in- the-Pines, which proved to be a potent moneymaker...
More important, Tisch is a businessman of legendary stature. He and his brother Preston, who is president of Loews, started in 1946 by borrowing money from their parents to buy a single resort hotel, called Laurel-in-the-Pines, in Lakewood, N.J. By 1955 they had twelve hotels, and in 1960 they hit the big time by buying control of Loews Theaters. After a quarter-century of further growth and acquisitions, including takeovers of CNA Insurance and Lorillard Tobacco, the Tisches run a company with assets of more than $12.5 billion. The brothers have amassed personal fortunes that total...
Carol Mikesh Lakewood, Colo...