Word: kauffman
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Marijuana, creeping across college campuses a lot faster than ivy, has sprouted at the U.S. Naval Academy. As at all schools, it is strictly forbidden at Annapolis. But last week Rear Admiral Draper L. Kauffman, the academy's superintendent, dismissed 13 midshipmen who had admitted to smoking pot in a dormitory room of Bancroft Hall. It was the second drug scandal to hit Annapolis: four middies were dismissed last June for using marijuana...
...Kauffman's oyster shells, compounded into a product called Os-Cal and recommended for pregnant women with circulatory problems, have been joined by 20 other ethical drugs. For the 15-year-old company, sales last year came to $10,400,000 and Marion Laboratories was the 41st largest among some 900 U.S. drug companies. What really pleases Kauffman, however, is that his company ranked first in terms of its increase in sales and earnings and its return (44.2%) on stockholder's equity. Beyond that, Marion's net profit of 18.1% was nearly double the average...
...Know I'm Good." Few men can match Kauffman's confidence as a salesman. Says he: "I'm good and I know I'm good." Son of an unsuccessful Missouri farmer who later did poorly selling insurance, Kauffman was a youthful moneymaker while selling fish and eggs door to door. He increased his income by such exploits as a Ping-Pong game in which he spotted an opponent 19 points but won the game-and the other boy's automobile. After four years of Navy service in World War II, in the course of which...
With the last $4,300 of his Navy winnings, Kauffman founded his own company, sold vitamin tablets and liver shots from the basement of his home. As sales increased, Kauffman also sold seven friends on investing in his struggling firm; each $1,000 of their original investment today is worth...
...Incentives. "Nobody works for Marion who isn't productive," says Kauffman. His salesmen, young and mostly recruited from small colleges, are expected to see 20% more doctors and pharmacists a week than competing salesmen and to increase their sales consistently. Those who pass these tests are rewarded with air-conditioned cars, color television sets, shotguns and longer vacations. Ultimately, the most productive salesmen are admitted to membership in the "M Club." They get an Oldsmobile instead of a Chevrolet or Ford as a company car, take double vacations and stay in hotel suites instead of rooms...