Word: rosenstiel
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Dates: during 1950-1959
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Behind the institute was its founder and sole member so far, Schenley Industries, whose President Lewis S. Rosenstiel has even more urgent feelings about bourbon than did the Rev. Garrard. Schenley reportedly holds 60% to 70% of all the old whisky in the U.S. (most of it bourbon), mainly because it over-stockpiled during the Korean war on the mistaken theory that a shortage was in store...
Whiskey Americain. Rosenstiel is not only betting on lighter, milder bourbon to take 50% of the U.S. market for domestic whisky this year, but hopes to sell it heavily abroad where bourbon is more foreign than vodka is to Americans. Musing over possible results, the trade magazine Advertising Age printed an imaginary dialogue in a Paris bistro...
Congress decided the issue Schenley's way. Last week Schenley President Lewis S. Rosenstiel said that his fight was not for Schenley alone, pointed out that virtually every distilling stock has risen since Congress acted, many to new highs. (Schenley's rose the most, from 18½ earlier this year to 31½.) Distress selling of whisky to collect the tax is now over, said Rosenstiel, and there is no reason for "senseless" price wars...
...Schenley, Weil will work under Board Chairman Lewis Rosenstiel and President Ralph Heymsfeld. ¶ Arthur K. Watson, 35, youngest son of Thomas J. Watson, board chairman of International Business Machines Corp., moved up from vice president to president of World Trade Corp., the I.B.M...
Schenley's new top team, pointing to the company's net of $22 million last year, insists that Rosenstiel will still be the boss, and that no big changes will be made. But Schenley now seems to have a somewhat healthier respect for the lowly blend, and may push its blends harder in the future. Says President Heymsfeld: "You can't sell a man a Cadillac when all he can afford is a Chevrolet...