Word: shapiros
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...EDWARD SHAPIRO Professor of Economics Wayne State University Detroit...
Stretched into three generations with 47 male members and scattered from Boston to Beverly Hills, the Shapiro family nevertheless manages to reunite four times a year. It is no coincidence that the councils coincide with meetings of Maryland Cup Corp., headquartered in the Baltimore suburb of Owings Mills, established 56 years ago by first generation Joseph and Nathan Shapiro. Although the firm went public six years ago, Shapiros still own 65% of the stock and dominate its board with ten of twelve family members, headed by Joseph, 79, as chairman and Nephew Arthur H., 57, as president. In what amounts...
Maryland Cup does 60% of its business during warm-weather months-and ice cream plays a key part. Says Executive Vice President Merrill L. Bank, 52, who married a Shapiro: "The old days, when you walked into a drugstore and bought a hand-dipped product, are gone forever." Today, packaged ice-cream accounts for 72% of the 800 million gallons sold annually in the U.S. To win that market, Maryland Cup developed the Flex-E-Fill, a 1,200-lb. stainless steel machine capable of packaging 44 kinds of ice-cream products in different sizes at speeds...
Peace & Harmony. The Shapiros have a special taste for ice cream, since their $100 million concern began in 1911 as a Boston ice-cream-cone bakery. Immigrating there from Russia, Brothers Nathan and Joseph Shapiro devised a technique of using rotary bakers instead of the single-line machinery in common use. Borrowing $10,000 from an uncle, they formed their own company, soon moved it to Baltimore-logically assuming that, since the weather there was warmer ice-cream sales would be higher...
Because fragile sugar cones travel badly, Nathan and Joseph built a string of bakeries across the country. The family followed the bakeries and ran them as individual fiefdoms. They still are to some extent, although control has increasingly become centralized. Now, explains Arthur Shapiro, "everybody picks the thing he thinks he's best at." The family's favorite example is Sam Shapiro, son of Nathan, who tired of running bakeries and in 1957 started the plastics division...