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Business Balls - This is How It's Done
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TudoBem Offline
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Business Balls - This is How It's Done
While I had heard some stories about my maternal Great Grandfather, I recently found an old 1928 Time article about him:

Business & Finance: Schulte Ubiquitous
Monday, Jan. 23, 1928

Read more: http://www.time.com/time/magazine/articl...z1ml5KK8r5


Excepting a few pieces of furniture, many a U. S. inhabitant has furnished his home with shrewd purchases at 5¢ & 10¢ stores. To these emporiums he has also hastened for Christmas presents and such luxuries of life as teacups, cookies, ribbons, bottle openers, pins, whatnot. It was announced last week that 14 leading chain store systems, chiefly of the nickel & dime variety, had made an average sales increase of 15.7% in 1927. The list, with value of 1927 sales and percentage of increase over 1926, follows:

F. W. Woolworth & Co. . . . . $272,747,430 7.5<BR> J. C. Penney Co., Inc. . . . . . 151,954,620 31.3<BR> S. S. Kresge Co. . . . . . . . . . 133,765,777 12.2<BR> S. H. Kress & Co. . . . . . . . . 58,059,929 11.9<BR> W. T. Grant Co. . . . . . . . . . . 43,322,451 20.5<BR> J. J. Newberry & Co. . . . . 15,065,908 50.9<BR> F. & W. Grand Stores, Inc. . 12,882,457 22.6<BR>

Metropolitan Chain Stores,<BR> Inc. . . . . . . . . . . . . . . . . . . . . . . 12,271,878 11.4<BR> McLellan Stores Co. . . . . . . 12,942,168 22.9<BR> G. C. Murphy Co. . . . . . . . . . . 10,233,592 19.6<BR> J. G. McCrory Co. . . . . . . . . . 39,337,644 17.0<BR> Neisner Bros., Inc. . . . . . . . . 6,452,159 45.9<BR> Isaac Silver & Bros. . . . . . . . 5,609,947 17.2<BR> Kinnear Stores . . . . . . . . . . . 3,035,807 43.8<BR> ———— ——<BR> Total . . . . . . . . . . . . . . . . . . . . . $776,681,787 15.7

Well aware of these facts, David A. Schulte, tobacco store potentate, is entering the trinket store field on a grand scale. With an investment of $35,000,000. of which $10,000,000 will be preferred stock, he plans to establish at least 1,000 stores selling household utensils, wearing apparel, books, miscellany, at prices from 5¢ to $1. Already he has five henchmen scouring the U. S. for favorable sites. In the appearance of his shops and in the quality of his merchandise, Mr. Schulte promises to give the public its eye's worth and its money's worth. Enthusiastic, he cried: "There is no reason why the number [of stores] shouldn't grow to 3,000."

Mr. Schulte is conspicuous in chain store circles. More than a year ago his 800 tobacco temples entered into partnership with the 3,000 United Cigar Stores.* Shortly after that he bought Huylers, Inc. (48 tea, ice cream and candy saloons). He has interests in V. Vivaudou, Inc., Park & Tilford, Dunhill International, Inc., Melba Manufacturing Co., American Druggists Syndicate, the Alfred H. Smith Co. As amazing sideshows, he paid $75,000,000 for the French tobacco monopoly two years ago, and bought the Overholt distillery (2,000,000 gallons of whiskey) for $15,000,000. Also he is the man who profited $1,000,000 by buying and selling Aeolian Hall in Manhattan within a week in October 1924.

And, to begin the story, he was the $18-a-week clerk in his brother-in-law's cigar store in Park Row, lower Manhattan, 37 years ago.
02-18-2012 01:14 PM
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TudoBem Offline
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RE: Business Balls - This is How It's Done
It's some crazy shit. I realized many years ago, that I had no desire whatsoever to be like that. Too many headaches, responsibilities, hassles to deal with. I have no inclination towards empire building or buying cars/properties, I think after about 20-30k/month, additional money would make no difference in terms of my happiness.
02-18-2012 01:16 PM
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Anon-A-Moose Offline
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RE: Business Balls - This is How It's Done
I would like to. I have the passion for the power and seeing an empire built from the ground up. Building it, the challenge, the rewards, seeing my vision come to life, that would be the greatest reward. The success and challenge is a primal urge; the money is irrelevant as long as I can live a decent lifestyle. $2k/mo would be more than enough for me.
(This post was last modified: 02-18-2012 02:03 PM by Anon-A-Moose.)
02-18-2012 02:02 PM
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germanico Offline
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RE: Business Balls - This is How It's Done
Even at 1928 prices, 2 million gallons of whiskey for 15mil seems like a bargain.
02-18-2012 02:18 PM
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TudoBem Offline
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RE: Business Balls - This is How It's Done
(02-18-2012 02:18 PM)germanico Wrote:  Even at 1928 prices, 2 million gallons of whiskey for 15mil seems like a bargain.

http://www.westegg.com/inflation/

According to this, if that did in fact happen in 1928, 15 million is like 189 million today. I also don't know whether 2 million gallons refers to annual production capacity or the amount of whiskey stored on hand.
02-19-2012 10:49 AM
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TudoBem Offline
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RE: Business Balls - This is How It's Done
(02-18-2012 02:02 PM)Anon-A-Moose Wrote:  I would like to. I have the passion for the power and seeing an empire built from the ground up. Building it, the challenge, the rewards, seeing my vision come to life, that would be the greatest reward. The success and challenge is a primal urge; the money is irrelevant as long as I can live a decent lifestyle. $2k/mo would be more than enough for me.

How could you live a decent lifestyle for 2k mo/ unless you are going to stay in 2nd/3rd tier Latin America/Asia?

Do you eat? buy clothes? require medical care? pay taxes? get places by some means other than walking or hitchhiking? enjoy entertainment? feel like buying articles that aren't of primary necessity once in a while?

Money is not irrelevant, and it's important to know what it is. It is a piece of paper or lump of metal. It has no practical value. It is only a medium for exchange.

Work to live, don't live to work.
(This post was last modified: 02-19-2012 11:04 AM by TudoBem.)
02-19-2012 10:51 AM
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Anon-A-Moose Offline
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RE: Business Balls - This is How It's Done
(02-19-2012 10:51 AM)TudoBem Wrote:  
(02-18-2012 02:02 PM)Anon-A-Moose Wrote:  I would like to. I have the passion for the power and seeing an empire built from the ground up. Building it, the challenge, the rewards, seeing my vision come to life, that would be the greatest reward. The success and challenge is a primal urge; the money is irrelevant as long as I can live a decent lifestyle. $2k/mo would be more than enough for me.

How could you live a decent lifestyle for 2k mo/ unless you are going to stay in 2nd/3rd tier Latin America/Asia?

Do you eat? buy clothes? require medical care? pay taxes? get places by some means other than walking or hitchhiking? enjoy entertainment? feel like buying articles that aren't of primary necessity once in a while?

Money is not irrelevant, and it's important to know what it is. It is a piece of paper or lump of metal. It has no practical value. It is only a medium for exchange.

Work to live, don't live to work.
Sorry I meant 2k/wk. Slight difference. Though when I made 2.5k/mo and had near-free healthcare, I actually was good. I lived very cheaply, my job was specialized labor so I didn't have to go to the gym or watch what I ate (I ran around 8-16 hours a day in the elements), saved, did all the labor on my apt and car and got the materials for cheap, had army insurance, and rented a 2-room for 500/mo w/ utilities included with repairs taken out of my rent Wink. Also had public transit train that ran literally directly into my workplace at the time.

It would sound like doing all that work by hand would get old, but it's kind of lethargic. Shoots your testosterone through the roof. There's a special bond between man, tool, and metal.
(This post was last modified: 02-19-2012 10:21 PM by Anon-A-Moose.)
02-19-2012 10:17 PM
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Cincinnatus Offline
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RE: Business Balls - This is How It's Done
(02-18-2012 02:18 PM)germanico Wrote:  Even at 1928 prices, 2 million gallons of whiskey for 15mil seems like a bargain.

At $7.50 per gallon...

$7.50 in 1928 has the same purchasing power as $99.41 in 2012 according to this inflation calculator.

$100 for a gallon of whiskey is pretty average, probably even expensive for some brands.

1 gallon = five "fifth" bottles, about $20 when you divide it out.

I drink Maker's Mark regularly, about $26 for a 750mL ("fifth")

(02-16-2014 01:05 PM)jariel Wrote:  Since chicks have decided they have the right to throw their pussies around like Joe Montana, I have the right to be Jerry Rice.
02-19-2012 10:21 PM
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