Word: harsen
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With their crisp English names, they joined family firms, city clubs and the Republican Party. They became physicians, lawyers, teachers and bankers. One of the bankers, John Harsen Rhoades, wrote mournfully, "I am not a business man, nor ever have I been. I believe, instead, I should have been a poet-artist." Another, Hugh McKennan Landon, wished he had been an engineer or an architect. But for the most part, there were few agonized choices about careers...
...Order. The turning point for Chris-Craft came in early 1960 when Harsen Smith, beset by family disagreements, sold out for $40 million to NAFI Corp., a Wall Street-run venture company controlled by famed Yachtsman Cornelius Shields. 66. and his investment banker brother Paul. To replace Smith as chief executive officer, the Shieldses installed bluff, chunky President Harry Coll, 52. who had been with Chris-Craft since 1939. Even before the Shields brothers took over. Coll had sent his close friend. Sales Vice President Charles R. Burgess, 51. off to survey the company's dealer organization. "Time...
...chief instigators, and as the prime beneficiary of the U.S. boating boom, Chris-Craft has averaged 14% growth every year since 1946. But by the late 19505. Chris-Craft, though still on top was not in tiptop shape. Run almost singlehanded by Chairman Harsen Smith with occasional advice from 53 other Smiths, the family-owned corporation was in visible -danger of losing its position as the company that made the right moves first. Says one top Chris-Craft executive: "We had gotten so we didn't pay attention to the market trends. The philosophy was: Let the pioneers...
...nation's biggest motorboat builder, privately owned Chris-Craft Corp., has long been considered a catch by merger-minded corporations. Both Singer Manufacturing Co. and Brunswick-Balke-Collender Co. recently made offers to Chris-Craft Chairman Harsen Alfred Smith (TIME cover, May 18, 1959). This week the prize was won by NAFI Corp. (formerly National Automotive Fibres), which has diversified into oil and television. The price: $40 to $45 million in cash. NAFI is controlled by the Wall Street brokerage firm of Shields & Co., one of whose partners is famed Yachtsman Cornelius ("Corny'') Shields Sr. (TIME cover...
...Today, some 5,000,000 Americans own outboards v. 1,300,000 in 1947. Last year Outboard Marine, a combine that makes well over half of all outboard motors in the U.S. through its Johnson. Evinrude and Gale divisions, produced $131 million in outboards. Chris-Craft's Harsen Smith does not consider the outboards a threat. Outboards. he feels, are to inboard boats as farm teams are to baseball's major-league teams. Says he: "It's the nature of boating to step up to a larger boat with sleeping room aboard...