Document 1NVweagey5gQ0dmGqZv4LmOE

GLD33343 PAINTS j '.The Gllddeh Cortjp*R7,- \'. :Cl*el4ud. - ;v.`vr>yI - f* 3.| Iy\ixnafapoiiit.M j.^$a$TrwirtifijC tfaUfofHio- j^T^UVv^y:< '-A ,Th-jCliddea Company* Lid. 'J'^j6kt6,'Gntimo^C'ttnada * <AMlWGrtL^>' :0$m I uVkwflrlmAtjlAwiaHa X*j I/ Cantpbeit Plal'ft^Varnisli < $ <31 ^SLLouit^Mu^ffurrJ^f^]. If; .Nubian Paint dr'V*till*h.'Coo `` Cfueago\ IBinotic'^ M^I Adartuft;Ellinf CoeVs,v i '.CAicopt\IIllicit'df$S ** f o o d . .; ; ! Darkeo Famocu Food* '.i_ '.Elston Avenue. Chicago. , Iron Street: Chicayo'iJlliuoi*- j\orv>oik\ OfUo.'+fS'Q LauuvilUi fCihiiutkyi _ Maeon. Georgia l Elmhurst. Long ltUmdrj~ '. Berkeley;,Ct^Jonu*j5>' Portlands 0teBOK'r*'&&?. Amin e s : Chcmiea! ft Pi|tnU Co, ' *&} v Barytes Mines, BattU Mtn~, Yadkin Mlea ft Ilmeniit.Go. Lenoir, tiortk.Caroliiur?j VEGETABLE OILS^i The Glldden Company-:r Buena Park; California-'^ tr r Berkeley, Califomial ^-Vjl>^/v' 'Tjtftei' *'X Portland, Oregon-Si. ^^^, -i^yl CHEMICALS,eiGMECTS^A MB**U`^!5S8SSI ! Ch*.!..! *'P!,rar ****** fwLDRIAM-DvJOir.CE- > > .'- vt ' .-^ * -- *?** ay--+r* A MAN AND A MAP Thirty-two yean aco a man already fortv-five yean old. and successfully entrenched as general saies manager of the internationally known Sherwin-Williams Co., set out to build a business of his own. He started with a sincle paint-nnd-varnish shop in Cleveland. Ohio, but being a man who could see considerably beyond the end of & paintbrush-, he ended up with the impressive industrial empire charted and mapped on the left. But big as it is. the Glidden Co. does not "sprawl"--its plants are posted aix>ui the U.S. in accordance with a precise, strategic, geographical pattern. And a definite homogeneity under lies its wide range of seemingly unrelated products. Growth Produet* Co. | Pascagoula. Mississijrpi Zinc Chnmirai Oi.. Inc, ; j Vc l c York. Mcv> York 94 GlD333 *`> r. "? ' 'Functional diversification^-it sounds like economic gobbledegook. But a hardheaded businessman used it as a base for an in* tensely practical and profitable enterprise. HOUSE THAT JOYCE BUILT From varnishes to paints and lead and zinc and rosin and margarine and Durkee's mayonnaise and weed killers and cattle feed and sex hormones, the Glidden Co. grew--but not like crazy. Ad r ia n d . Jo y c e of Cleveland, Ohio, Chairman of the Board a Y of the prosperous and prolific Glidden Co., and at seventy-six years of age still its active first executive orficer, might best be described as a businessman s businessman. As in the case of a "writer's writer," or a "ballplayer s bail- player," the label implies a competence of the kind that almost conceals itself in action, and the exertion <<f a technique too sound to be spectacular. Mr. Joyce is nut a plunger or a colorful promoter, nor the greatest American salesman since Sam. Slick, He is simply a superb businessman of some sixty years' erperience--the kind of U.S. businessman in the flesh that John Chamberlain protests you never meet m the fiction of modern American novelists (see "The Businessman in Fic tion,^"Fo r t u n e,November, 1948). But after all.in theaverage novel it is the man of indecision--or of bad decisions--that makes for engrossing reading, and Adrian Joyce is an engross ing real-life character for just the opposite reason. He always seemed to know where he wanted to go and never hesitated, after prudent investigation, to make a great many important decisions that time has proved were very iarseiy ri*ht. When you first look at Mr. Joyce's big company i the 1948 gross exceeded $200 million), you feel you want to brush the film from your eyes. The Glidden Co., to choose at random from its hundreds of products, makes paints, poisons, salad dressing, cattle cakes, type metal, oleomargarine, and sex hormones, ft operates thirty-four plants, and acain to pluck .it random at the Glidden gamut, they include a spice mill at Elmhurst, Long Island, a chemical plant at Baltimore, a paint factory in Cleveland, a soybean plant in Chicago. a oarium mine in Nevada, a coconut-oil refinery in Berkeley. California, and a fishery in Pascagoula, Mississippi. The melange may suggest the morning-after accumulation of a multimillionaire on an acquisitive, cross-country binge, but it is nothing of the sort. The Glidden Co. is a house in exquisite order, and it was put together beam ov Ufam and wing on wing by a remarkably clear-sighted builder Builder is certainly the word, rather than architect, and he worked not so much from a blueprint in his hand as from a few basic concepts fixed firmly in his head, An instinctive to proceed from A to B, to C, etc., accomplished the rnt The rationale of this apparently complex corporation is strikingly simple as Adrian Joyce explains it (he has a talent for crisp, clinical exposition of a business problemi. But it is necessary first to catalogue briefly the Giidden Co. as oi today before taking up the tale of how and why it got' that way. For orientation one can divide the organi2ation into five main divisions: (U Paint and Varnish, (2) Durkee Famous Foods, (3) Soya Products and Stock Feeds, (4) Chemicals, Metals and Mining, and (5) Naval Stores. Besides paints and varnishes, the first-named division manufactures DDT compounds, weed killers, and various insecticides; also lacquers, emulsions, finishes, polishes, waxes, etc. The food division turns out great quantities of edible oil products in bulk, which it sells to other food manufacturers, as well as its packaged goods, like salad dressing, mayonnaise, and Worcestershire sauce, which it sells to retailers under the Durkee label. The soybean division makes the livestock feeds, lecithin, also flour for human consumption, and the sterol chemicals and sex hormones. The chemical and raining di vision makes the pigments--cadmium red and yellow, tita nium dioxide, lithopone, the ground-bleached barytes, red and white lead, etc.--and the powdered metals, type metals, and metal alloys for the graphic arts. The naval-stores division furnishes rosin, turpentine, tar, etc., and all their various de rivatives. Profit margins on these respective divisions vary, but in recent years the net on total operations has averaged $10 million a year after taxes. Roughly, production in dollar volume runs* to 55 per cent foods, 25 per cent chemicals and naval stores, and 20 per cent paints. Don't throw it away The first key to this mysterious mixture is found in the first important job that Adrian Joyce ever had. At the turn of the century, the ex-Iowa farm boy was working for Swift & Co., in Chicago, where he was appalled at the sinful waste in the meat-packing methods of the period. He it was who proposed the now basic scheme for converting the residues into fertilizer, and he was thereupon assigned to organize a department to carry on such work. It's a card Adrian Joyce has played many times since. FuD utilization of materials (and of equipment 95 GU0333*5 xnd personnel) is a cardinal Glidden principle, and accounts muster, after mortgaging everything he owned, was $188,000. ;n large measure for the company's lateral expansion. To A syndicate was organized, however, with Joyce at its head, hark back to the businessman in fiction, here is another and a purchase effected by placing the stock in escrow until reason for Mr. Joyce's disqualification. Far from being a subsequent payments could be made out of earnings. plunderer or despoiler of national resources, he is eminently a Though he was up to his ears in paint. Adrian Joyce had a salvager and conservationist. Half of Glidden's fortune seems poor opinion of the way the paint business was generally to have been made from fashioning useful products out of operated up to 1917. "There were plenty of paint mixers." he residues that other manufacturers have historically thrown says with just a slight inflection of disdain, "hut I wanted to away. Repeatedly, Glidden has turned the shards and stinks be a paint manufacturer, with all the term implies." To Joyce of industrial processes to profitable account. it implied a fearless foray into the chemical business, the con trol of raw materials, the discovery of new materials, and the r o m Swift's, Joyce moved over to the paint-and-varnish gumption to manufacture out of those materials any kind of Fbusiness, and with Sherwin-Williams Co. rose to be a products that might seem sensible and profitable. He at once director and general manager of sales and distribution. But rewrote the Glidden charter in such a way as to give the com life really began at forty-five for him when, in 1917, he picked pany freedom to experiment with anything that remotely in up the ancient (established 1875) Glidden Varnish Co. of volved the materials or equipment employed in making paint. Cleveland, the cornerstone of his now notable creation. Mr. But being an operator who goes to B before C, Joyce first Joyce approached Mr. Glidden on the reasonable assumption set out to make his varnish company into a top-flight paint that the latter, then nearing his ninetieth, birthday, was in a company. In the next three years, the new Glidden's pur mood for retirement. Both men agreed that. $2,500,000 was a chased eleven paint concerns throughout the country. They fair price for the varnish company and its venerable Jap-a- were bought on a highly selective basis, however. Geographi Lac trademark, but the most that Joyce personally could cally, the aim was to spot a plant at each breaking point in DR. PERCY L. JULIAN, CHIEF OF GLIDDEn 's SOYA RESEARCH 96 GLD333"fc Edible eauiilflert THE SCIENTIST AND THE SOYBEAN ------- The soybean division is just one segment of the Giidden Co., but its proliferation is typical of the entire outfit. Giidden first sought in the soybean only a substitute for the expensive casein it required in making paint. But in the process Giidden found it convenient and profitable to produce at least s dozen other soy bean derivatives, ranging from foods to drugs, developed in the Chicago laboratory by Dr. Julian (oppoatia) and his staff. the railroad freight-rate structure. Financially, Giidden pre ferred to effect the transfer by an exchange of stock and a minimum cash outlay. Mostly they were small, family-held firms where the owner was happy to make the deal, particu larly if he could carry on as manager. A/ter possession, Joyce would send a man in to train the personnel in uniform methods and in making paints that met Giidden standards. His company was soon one of the front runners in the field. Mow it was time to make Giidden self-sustaining in raw materials. And in so doing, Joyce knew he would take his first steps toward diversification. He couldn't have told you, in 1919, exactly what direction the diversification would take; he couldn't spell out the precise products. But he knew he was dealing with fecund materials that held many hidden properties, and that the possibilities of their combinations, refinements, and extractions were infinite. He was neither a chemist nor metallurgist by profession but he had the feel of the new technologies then coming along fast in the labora tories of the worid. He visited Europe frequently and studied what the Germans were doing, not only in chemical science but in the structural adaptation of their corporations to the proliferating chemical industry. He didn't lust after.power and monopoly like the I. G. Farben proprietors, but he did envision what could be done in his own bailiwick with a "ver tical combination" practicing "functional diversification." How the old woman got homo The three basic raw materials used for making paint are lin seed oil, lead, and zinc. In chasing after them, the Giidden Co. met adventure at every turn. The supply of linseed oil' didn't present any problem of moment, and here Giidden was content to buy one plant, at St. Louis, and let it go at that. However, it wasn't economical for Giidden to ship oil from this single plant to its national network of paint factories, so the company arranged a deal: Giidden would supply competing paint companies in the St. Louis area, and in turn Giidden bought oil for its distant plants from neighboring paint companies that either owned linseed-oil plants or bought enough oil to supply Giidden as well as themselves. This was a quite ordinary deal, and it would stand as the most prosaic chapter in the Giidden story except for one thing: it was the linseed-oil plant that popped Giidden into the food business--but that comes later. Lead was something else again. Since there were only two major sources of supply--Eagie-Picher and the National Lead Co.--Mr. Joyce was afraid of a squeeze. Searching elsewhere, Joyce came upon a far superior proposition. He found a mam named Edwin Euston who owned a patent on a process that revolutionized the old Dutch method of making white lead. mm* ujfjMu. iiiiii; ifrp'n ywmknmmmmmmrn 97 GLD333A7 HERE PAINTS AND PIGMENTS THERE DURKEEFAMOUS FOODS Htrrr - iert f Titanium dioxide, a white pigment employed in mixing paint, is The factory above is the original Durk.ee plant at Elmhurst. Long produced by Glidden in its Baltimore plant. Shown above is a Island, acquired by the Glidden Co. in 1925 when it wanted to i "digester'' tower surrounded by iron scrap, which is mixed with expand its food business. Now. most of Glidden's retail food ! ilmenite and sulfuric acid to produce the pigment. products are marketed under the Durkee label. i In the old Dutch process, it took 120 days to turn pig lead property of indignant Long Island citizens for raiies around. into white lead. What's more, it was performed in a single When the Glidden people heard of this, they captured a vessel and the resultant white lead was usually contaminated sample of the fumes, and found something much to their with pig-lead impurities. The Euston process first dissolved liking. So a deal was made whereby Phelps Dodge bottled up the lead, thus eliminating the other metallic elements, and the fumes and turned them over to Glidden, which converted produced pure white lead in only twenty-four hours. .Joyce them into a dust from which large quantities of zinc sulfate promptly bought the patents, and the Euston plant in Scran and also copper, lead, and tin were recovered. Glidden kept ton, Pennsylvania. It gave him better and cheaper lead, com-, the 2inc, returned the other residues to Phelps Dodge, and all plete independence in one of his basic raw materials, and a concerned, including the Long Islanders, breathed easier. profitable new product to sell to other companies, as well. In chronology, we are now about ten years along in the They smelled something life of the reorganized Glidden Co. and it is apparent that either by purchase, adaptation, or discovery Mr. Joyce has Giidden's experience with zinc has a typical Joycean twist. secured impregnable and economical sources for the basic raw Zinc is one of the two materials used in making one of the materials needed in manufacturing paint. There are additional most important pigments in paint manufacture--iithopone. materials that figure in his business, of course, but toward The other material, barium sulfate, is cheap and abundant. them his sole criterion is: can we make it ourseives for less At the outset Glidden did what anyone could do: it bought a than the market price? Turpentine and rosin came in this zinc mine (in California), acquired barytes deposits in category. After a look Mr. Joyce moved in on that field. Nevada, and purchased and revamped a Iithopone plant in Naval stores is an ancient business, and until Glidden came 1 Baltimore. But shortly Glidden needed more zinc, and it was along, its methods were as old as the business. Many small i desirable, aiso, to get it from a source nearer Baltimore. Just and scattered owners, some of them only a step or two above then Phelps Dodge Co. was having an unholy time with the indigence, employed Negro families to wander through the disposal of fumes from its copper refinery on Long Island. pine woods tapping the gum thus into wooden buckets, after The company had installed the tallest chimney feasible but which it was carted to one of the hundreds of small, primitive the devastating fumes persisted in annoying the person and stills that dotted the area about every five miles or so. It was 98 i GLD333i*8 .. ......... ............... ------ ----- a highly uneconomical way of making highly impure turpen tine and rosin. In 1936, when Glidden went in, it buiit a stainiess-steel vacuum distillator, the finest and biggest the South had ever seen, installed mechanized collection methods, and was easily able to get, at much lower cost, a product at su perior and uniform quality. Glidden still does some tapping, but for much of its supply it merely buys up acres of aban doned pine stumpage and draws the rosin out of the stumps by destructive distillation. The residue of the residue of the residne With linseed oil, zinc, lead, lithopone, turpentine, and rosin in the bag, Glidden had an almost completely integrated paint company except for dry colors. "Maybe we're throwing away something that would serve," suggested Mr. Joyce and he put his technicians to work analyzing Glidden waste materials lot evidence of color components. Soon the Baltimore laboratory reported that when it made lithopone (out of the stinking Phelps Dodge fumes, remember) a miserable scum rose to the top of the solution, which had to be scooped of! and discarded; upon analysis, this scum was found to contain cadmium, a substance used extensively for platingmetai. Further research proved that cadmium would produce something previously unattainable--a true yellow and a true red. Cadmium yellow and cadmium red, brilliant, firm, non-fading, are now the most prominent and profitable dry colors in the Glidden line. fio much for Mr. Joyce's paint company--one of the three biggest in the world today. Now to leaf back to the year 1920 and the linseed-oil plant in St. Louis that led Glidden into food. The plant was well located for its job of crushing flax seed into oil, for all this flax was shipped up the Mississippi by barge at the very cheapest rates, right to the plant's door. But the crushing season lasted only six months, and the plant stood idle for the balance of the year. Mr. Joyce characteristi cally ordered an inquiry into the full utilization of that ma chinery, and presently learned that copra, which yields coco nut oil, could be crushed by the same equipment. He imme diately made a deal with Philippine growers to ship in enough copra to run the St. Louis plant on a year-round basis. Mr. Joyce's first idea was merely to take up the slack in the shop, and sell the crude coconut oil to anyone who wanted to buy it. But he found that the only customers who could take his output of crude were the soapmakers with whom he would have had to compete for the purchase of Philippine copra. That didn't look like smart business to Joyce, so he decided to refine and deodorize the coconut oil and convert it into shortening and margarine. But once he was in the margarine business, he found himself in competition with firms like Gen eral Foods, against which he could get nowhere without a complete line of products and a national distribution system. That being the challenge, Joyce accepted it. After all, he was searching for diversification, and what better choice could Glidden make than food, which, unlike paint, is something people have to buy in bad times as well as good? And it was functional diversification, too, because of the complementary use of certain oils in both foods and paints, and the inter changeability of much of the equipment. This Adrian Joyce operates with a kind of swift serenity. He takes bis time gathering and assimilating all the facts of a situation, but the decision itself comes lightning fast. Dur ing the years while it was experimenting with the manufacture of margarine, shortening, hard butter, etc., Glidden had only one major food factory--a Chicago brewery, picked up cheaply when prohibition was enacted, but peculiarly well adapted for food processing. Then in 1929, Glidden stepped out and purchased in swift succession seven good-sized food companies. It bought margarine outfits in Ohio, Illinois, Wis consin, and California; it bought the long-established Dunham Mfg. Co. of New York, maker of shred coconut and, for & topper, paid $1,800,000 for the plant and facilities of E. R. Durkee & Co., of Elmhurst, Long Island, which had a won derful old name in such packaged products as mayonnaise, salad dressing, Worcestershire, and spices. Thereupon the Glidden food division was blanketed under the trade name of Durkee Famous Foods. In six months Mr. Joyce had a com plete fine of products, a national distribution system, both wholesale and retail, and a household name in foods. Using the old bean Meantime, largely as a result of his European excursions, Joyce had become interested in the soybean. It was in con nection with the paint business that soya first attracted him. In Germany he spotted a process that extracted from the Continued on "page tS6 ...... Mrrw PRESIDENT DWIGHT P. JOYCE t > mn He never had a boss's son complex. School vacations were spent as a laborer at Gfidden's; later, he became a star salesman. By 1947, at the age of forty-seven, he hud fully earned the presidency. 99 GLD3 3349 THIS RARE DIAMOND... Blut-wnitt, perfect ipecmen 2S*i Carats. Phil* sctusl nit. No ocher gem of chis size, quality and perfection is Available in America today. Can be purchased at investment price far below market value. Address inquiries ft RICHTER'S MIAMI* FLORIDA Specialists in Diamond Estates since 189$ for or H4&4770# that it d if f er en t , com, *> QUEBEC/ X Picturesque and beaunfui are the many tours you can make m huroric Quebec--around the romantic Gaspe Peninsuladown the rugged north shore of the St. Lawrence to the Saguenay and Lake St. John--up through Mont r61 to the Laurentians--south to the storied Casern Townships. And everywhere you will be wekomeu with truly French-Canadzan hospitality in comfort able inns and hotels. ^ LA MOVIMOI Bf Quebec For help pUnntnx yeur retain*. tr ftr infemmtin unssrpsued indmttriel tppurtunitin f* #r prtuntt. u>>i rinds! Publicity Bunsm, Parlisment Buildings, Quebec Canada, it 48 ReckeftUer Plata, New Ytri Cjtj 20. *# P-. Can. 168 House That Joyce Built continued out of piowed-back earnings, and though in tight times it has resorted to debentures and other borrowings it has long been free of funded debt and is unencumbered by bank loans. Glidden's earnings are excellent rather than flamboyant: since 1930 it has never known an unprofit able year, and dividend payments have been continuous since 1933. It was during the depression years, indeed, that Glidden effected much of its expansion in plant and personnel (the soya enterprise was launched in the black est of times), therefore the company was in good condi tion to capitalize on national recovery when it came. Since 1940 Glidden has quadrupled sales and advanced its net income from $1,700,000 to $0,200,000 in 1948. Father and son Is it a one-man company? It wtmid pain Adrian Joyce to hear that question answered in the affirmative. After all, he built his own stout corporation on the shells of one-man companies, so he knows what happens to them, and he has heirs and associates of whom he is very proud. But it is a one-man company in the sense that, fast as the younger executives of Glidden Co. have run, none has quite caught up with the founder. It is a deep, wide salient he has carved out on the paint-food-chemicals front, and, like General Georgie Patton, he is possibly several furlongs ahead of his ground troops and gasoline supplies. The most that could be immediately asked of any understudy would be to consolidate the elder Joyce's gains, and that's exactly what his ablest and best-trained lieutenant--his forty-nine-year-old son Dwight, the President of Glidden Co.--plans to do. When Adrian Joyce took on the Glidden venture, he brought along the comptroller of Sherwin.-Williams, Robert H. Horsburgh, who was ten years Joyce's junior. As Glidden's Vice-President and Treasurer he had the task of putting the company on a sound accounting and budgetary basis. Ultimately, he became Vice Chairman of the Board and to the extent of his considerable pow ers, Joyce's alter ego. But last year, at sixty-five, Mr. Horsburgh was ready for retirement. In February of this year he died suddenly on his return from a vacation in California. Two other men in the company, besides the younger Joyce, have hod an opportunity at least to stand on the bridge with Joyce Sr., and view the operation as a whole. One is Vice President William J. O'Brien who, in 1920, was the first research chemist of any account to be hired by Glidden's. He accompanied Adrian Joyce on Euro(>ean jaunts, in the role of technical adviser, a job, as it turned out, which was largely to prove that Joyce's instincts were correct in the first place. At sixty-one he is still panting at the effort to keep pace with his seventvsix-year-old su[>erior. The other jack-of-all-Iines execu tive is Vice President Paul E. Sprague, who was the brightest young man in the old Glidden Varnish Co.\ employ when Joyce took it over in 1917. He has served as general assistant to the Chairman, understands the Joycean principles, and knows his way around the maze better than most. Now fifty-seven, he is Vice President in chnrgc of the feed and navai-xtorcs divisions, and is chairman of the research and manufacturing committees. President Dwight P. Joyce can congratulate himself Continued page 111 GLD33350 rg -Warner has been working hand in hand with Villys-Overland since 1919! <525gj For the special needs of Wtllys-Overland, Borg- Warner creates many essential operating parts. For three decades, it has been Borg-Warner's privilege to make certain essential parts for the cars of Willys*Overiand. And the unique new "Jeepster" ... featured as "the car made for people with a Hair for the unusual*'... is no exception. But Borg-Warner's service to the automotive industry doeso't end here. Today, L9 of the 20 makes of cars contain one or more basic working parts created by S-W, Prominent on this list of parts ate transmissions, overdrive units, clutches, universal joints, propeller shafts, radiators, timing chains and sprockets. Now--as always--the Borg* Varner aim is "design it better--make it better". This objective, combined with proved engineering skills and large*scaJe facili ties, will help bring even greater advances in your "car of tomorrow1'. I 20 MAKES OF CARS CONTAIN ONE OR MORE PARTS BT BOBG-WARNER. Tie#* unit! form BORG-WARNER, Exrjtirw 0///cv, 310 S. Michigan Art.. Chicago: lot. BORG-WARNER INTERNATIONAL ' BOftC WARNER SERVICE PARTS CALUMET STEEL DETROIT GEAR DETROIT VAPOE8TOVE FRAMSttN OTSat INOBRSOLI. STSCL INOSaSOU. .NfT . LONG UFO- LONG MPC. CO.. LTD. ' MARBON * KAKVEL-BCHSELER CARBURETER - MECHANICS UNIVERSAL JOINT * VOMI OUIK MOMS CHAIN. LTD. HOROB NOROB- MACHINE PRODUCTS PCSCn PRODUCTS ROCXPURO CLUTCH SPRING DIVISION 9UPHR10K 9HSETTTBIL Wa ANKR AUTOMOTIVE PARTS WARNER GEAR WARMS* GEAR CO.. LTD. GI- 033351 Dewars "mite label and"Victoria Vat' The Medal SCOTCH of the World Famed are the clans of Scotland ... their colorful tartans worn in glory through the centuries. Famous* too, is Dewar's White Label and Victoria Vat. forever and always a wee bit o' Scotland in a bottle I for distinguished service Whit* label .Vtdal Scotch for mort than SO yean Victoria Yet "Son* Finer"--Liqturur Scotch This la the Tartan of Clan MacLeod. Both 86.8 Proof Blended Scotch Whisky Coavrt'M i l**QTtO ; Schenley Import Corp., N.Y. : h SjmUj ' Hous.- nut mih ncs of lr of Michiniichici! its e.vp:titraditi"" and-v:rr' = special!pampr-i prnhni'lPresir U*: i now inwhat ;n Hush. ; nttcnfi'-' the pi1 f )[!.- that M in" " i'' sense w' for af flict ;> pos-llti* dram. Fnr ;ili Heath"' in hmi' small !' ferenf into style <tep ' Emt v A rim' lated ; soiliiisnlf"1 ah\. an < t! nx `i the an'! ill Pqwe. !,,. TinId H GLD3 3352 House That Jovce Built cnntinurd not only on his choice of a parent but on the fortuitous ness of his birth date: he graduated from the I'niversity know as much alwut the customer's problems in chem istry as the customer does. And so it goes. of Michigan and reported for work precisely at the time Glidden's had completed reorganization and was slarling Giidden met this problem by decentralizing to a much greater degree than most corporations of its size. It has its expansion. So he knows the score. He begun with the traditional menial tasks and came tip through the paintand-varnish business as laborer, foreman, and production nine regional directors responsible for the Giidden show in their res|>ective areas. They are, in effect, miniature company presidents. They have to go to Cleveland for specialist before graduating into sales. His father neither pampered nor hectored him along the way. and he would probably be the choice of any disinterested party for money and for policy decisions involving the expendi ture of important money, and for decisions on labor attitudes, national advertising, etc., but they are at President of Giidden. Right now he is concentrating on what might apj>ear, at first liberty to pursue their own methods in respect to sales, production, organization and blush, to have had the least research. So long as they are attention up to this point-- successful, the details of the the problem of organization. operation are their own re Once again, it would seem sponsibility; they are ac that the elder Joyce was act countable to Cleveland only ing with his customary sound for their failures. sense when he decided to strive With Adrian Joyce at the for decentralization and in helm, this system has worked flict as littie organization as very well. As the man who possible on his growing, vi put Giidden together, he brant, many-sided company. knows the strength and weak For ail his faithfulness to the principle of functional diversi fication. what he actually had W. J. O'BRIEN P. E. SPRAGUE Once * chemist with the U.S. Department of Agriculture, Mr. O'Brien joints! Glidden's in 1040. Mr. Sprague, also a chemist ness of every division, and the dry, factual monthly re ports on the sales, profits, and in hand was a collection of came to Giidden in 11)15. Both are Vice Presidents and directors. inventories of each unit com small businesses of quite dif pose a most sensitive barom ferent design, and he thought it better to organize them eter of the fortunes of the business when regarded with into Giidden divisions operating according to their own his extrasensory perception. But no one man will ever style and initiative rather than require lliem to goose- again know so much about the Giidden Co. as he now step to the commands of a general staff in Cleveland. knows, and in tacit recognition of this fact the company Every man a president created, a few years ago, a team of executives to oversee the o|>erations of the regional directors. So each of the A quick swing around the Giidden divisions confirms the Giidden divisions now has a Vice President in central wisdom of this policy. There is no "general sales man charge. They are Paul Sprague, naval-stores division; ager'' for the Giidden Co., because of the plainly unre John P. Ruth, metals and pigments; Alexander Duncan, lated problems and variegated techniques involved in paint and varnish; Ralph S. Golseth, soybean products; selling the totally different products. The Giidden paint and L. Y. Pulliam, food division. In addition, Newell salesman, for instance, is a fellow who is out talking and Beatty, who heads the Pacific Coast food division, has selling color and protection; he is primed on the decor been invested with a vice presidency. ative arts ami the science of illumination, and he carries These men are all responsible to President Dwight an elaborate kit to help him explain to the custom Joyce. It is no stiff-necked, military chain of command er what is hidden inside those Giidden paint cans. Hie -- Dwight's door is oj>en to them all, and to those below soya-products salesman, of whom there are biuclv a them-- it is simply a recognition that Giidden has be dozen, is scarcely a salesman at ail--he's a trader and come too intricate an instrument to be played by ear. technician. The fortunes of the soybean division depend This delegation and tighter definition of authority and on how smartly it carries out its hedging operations in responsibility was largely Dwight Joyce's idea, though the commodity markets, and on the skill of its trailer it has the enthusiastic approval of the Board Chairman. salesmen, whose problem is not so much finding a market It fits in with Dwight's conception of Giidden*s future as it is closing deals by supplying the right product at the right price. In the food division, it depends upon role. As he sees it, his father's dream of a functionally diversified company is now an accomplished fact--there whether you are selling edible oils, shortening, marga rine. biscuit mix, etc., to manufacturers by the hundreds and thousands of tons, ami ure therefore a serious.specialist is no need for further lateral expansion. Giidden's aim henceforth is fully to exploit its beautifully balanced business and, by emphasizing sales, merchandising, and in food formulas, or whetheryou are handling a I ineof retail advertising, go forward to new highs in volume and spices, sauces, and salad dressing, in which cn.se you have to profits. So it isn't a one-man company after all. Adrian be hep to all the razzle-dazzle merchandising techniques. Joyce never made anything--including the Giidden Co, The chemicals-and-pigments salesman, contrariwise, is itself--that wasn't capable of developing into some hitting top executives whom slogans won't sell: he has to thing bigger and better, ad infinitum. en d 17i \ I GL033353