Document GmGeKQkYLQyBxxNjRzOMB421Y

c it y Cleveland l4, Ohio DATE April 20, 1959 SUBJECT PRINTERS' INK Publicity Executive Bulletin No. 11 ANSWERING LETTER OF FOR Recently Printers' Ink magazine, one of the leading journals in the advertising and marketing field, published an article about our company and Mr. Dwight P. Joyce, our Chairman and President. A reprint of this article is attached hereto. I think you will find this gives an intimate portrayal of our Chief Executive Officer - not only as a business man, but also as an individual. In addition, it points out certain facets of our various operations with which some of you may not be familiar. If you wish additional copies of this article for use by your sales representatives, they can be secured from my office. W5L;rk Distribution: Entire List A PRINTERS' INK PORTRAIT Glidden's flying Dwight Joyce: Paint and spices for a world market PRINTERS' INK WEEEEKLy' SXrijCD MS\f=tKTlf^JC3 Reprint from PRINTERS' INK MARCH 27, 1959 Copyright 1959 by Printers' Ink Publishing Corp., 635 Madison Ave., New York 22, New York GLD 041084 A PRINTERS' INK PORTRAIT Glidden's flying Dwight Joyce: Paint and spices for a world market Joyce likes to break precedents in the way he uses na tional advertising--both in magazines and broadcast--to `"subsidize" new products. Now his Glidden paints and Durkee foods are world leaders in their fields Dwight Page Joyce is a 58-yearold Cleveland advertiser whose corpo ration, The Glidden Co., enjoys annual sales of more than $215,000,000 and is today among the world's largest pro ducers of paints, foods (Durkee's Fam ous Foods include spices, refined edi ble oils, shortenings and mixes), organic chemicals and various metals, pigments and powders used in industry. One of its products, titanium dioxide, a white pigment, is used in the paint and paper industries, in rubber (for white-wall tires, books and inflated toys), in ce ramics, printing inks, and in a myriad of other surprising ways. The Glidden Co. will make advertis ing news next month when its "SpredSatin'' paint runs a five-page spectac ular gatefold advertisement, the largest paint ad ever carried in a national mag azine, in "The Saturday Evening Post." This single ad, plus production and point-of-sale tie-in material, will cost Glidden $250,000. Glidden also has been attracting at tention lately in business papers such as "The Wall Street Journal" with fullpage advertising announcing, "It pays to get rid of things that hamper you." This advertising points out that the company has just shorn itself of an as sortment of operations involving $61, 000,000 in sales--because they were low-profit. Glidden has remarkably high profit-margins. In the past eight years they rose--while most profit mar gins were going down--from a notable 21 per cent to 24 per cent of sales. The man who has been chief ex ecutive officer of The Glidden Co. for the past 12 years is big (6', 2"), affable and quick-moving Dwight Joyce who has been involved with the fortunes of tlie company, which is publicly owned He found ways to make women buy paint but family dominated, ever since his father bought it when it was an ob scure maker of varnishes. Joyce's father, Adrian Joyce, had been born on a farm in Sumner, la., obtained a public-school education while helping to support his parents, and saved enough to enter the Uni versity of Michigan at Ann Arbor in 1S97. While an undergraduate he sold hardware to farmers. Knowing the fanners' vital need for fertilizer, he wrote as a sophomore to Swift & Co., the meat-packing house, telling it that its offal could be made into fertilizer. Swift offered him a job setting up a fertilizer department, and Joyce took it. In 1899 he joined the Sherwin-Wil liams Co. and began learning the busi ness of paint-making and selling. He became sales manager in Kansas City, later was called to Sherwin-Williams home office in Cleveland, made general manager and, eventually, a director. Striving still higher, Adrian Joyce re signed at Sherwin-Williams, in 1917 bought the Glidden Varnish Co. of Cleveland, which had sales of barely $2,000,000 a year. Soon the Glidden line of enamel, under the trade-mark "Jap-a-lac," became the most famous paint trade-mark in the country. Glidden got into the food business in 1920 when the father, seeking to obtain and control his own supply of linseed oil, purchased a company in St. Louis that extracted linseed oil from flax seed. Flax arrived seasonally, which left the plant idle six months a year. Adrian Joyce, looking for other products to process by the same machinery, began to import coconuts from the Philippines and Hawaii, shredded and processed them into coconut oil and allied products. He also launched a program of diver sification, buying factories at strategic locations and equipping them for local competition. Every June he hired col lege science graduates who, under his prompting, researched into oils, naval stores, mining, metal powders, chemi cals of all kinds, other foods and even plastics. In 1921, in a search to control a supply of paint pigment called lithopone, Glidden sought the Chemical Pigment Co. In 1921 he also acquired an Organic Chemicals Division, while looking for a controlled supply of resin and turpentine for paint. Dwight Joyce was born May 31, 1900, in Memphis, Mich., when his father first began selling for Sherwin- GLD 041085 Joyce still likes to demonstrate his latex "Sored Satin" for paint store customers Williams. He grew up in Cleveland as his father played a leading role in the growth of Sherwin-Williams, now one of his chief competitors. He attended the private University School in Cleve land and was an excellent student, an equally good swimmer. He became the state champion sprint swimmer in the high-school age group, setting records which stood until his own son, Charles, shattered them. Hardworking Dwight Joyce entered the University of Michigan in 1918, and graduated in three years, even though he spent each summer vaca tion doing manual labor in the Glidden factory. He also won three swimming letters and a job as "heeler," which meant legging his way around campus and in Detroit selling advertising for the student-run "Michigan Daily." Courage to tell the truth While on the "Daily," he was assign ed a special report for the AnheuserBusch Co. of St. Louis on its non- alco holic beer called "Bevo," selling main ly in college towns. Young Joyce in terviewed retailers and consumers, re ported to the brewery that, among other things, Bevo was "tasteless," "un palatable," and "good for nothing." The student boss had a swooning sen sation when he read the carbon of Joyce's report and his job hung by a hair as the gloom-shrouded staff waited for one of their largest advertising ac counts to be cancelled. Instead, the brewery doubled its space order, con gratulated the manager for employing the only ad man in the country with "the courage to tell us the truth aboutBevo." The incident led to Joyce's ap pointment later as "Daily" ad manager. After graduation in 1921, young Dwight Joyce spent a year as a Glidden factory hand, was shifted to various production jobs and sales jobs. In 1927 he was made a director of Cliddcn; in 193-1,' a vice-president in charge; of the paint and varnish divi ion. Under Dwight Joyce the paint divi sion helped to revolutionize the entire paint industry in the U.S. As late as the 1920s, paint factories had made calci mine paints similar to those of ancient Egypt. The biggest changes have oc curred since World War II and Joyce piayed a big part in them. For years Joyce had lent his support to Glidden scientists striving for a "nearly perfect paint." They had listed the desirable qualities paint should have--rapid dry ing, washability, freedom from odor, ability to retain the proper sheen, and ease of spreading, were some. By 1945 they had a product that came close. It was a water-thinned emulsion and an enamel but its sheen was too glossy. At that moment, Dr. L. L. Ryden of the Dow Chemical Co. was getting some remarkable results from polymer research. He could produce a latex capable of forming a paint-like film. Glidden's scientists went to work with his "No. 512" (emulsion (while Joyce made some hard economic decisions to back them up) and by 1947 the first batch of "Spied Satin" had been made. That same year Dwight succeeded his father as Glidden president and the elder Joyce became chairman of the board. Dwight Joyce immediately es tablished a "full integration" program in all company divisions with, in each, a vice-president reporting to him. The "Spred-Satin" paint was field-tested during Joyce's first year as president and marketing in quantity was planned for 1949. Joyce himself suggested, and took the lead in executing, the promo tion that "set the paint industry on its ear." Top Glidden executives were sent to counters in department, hardware and specialty stores to . demonstrate. They were drawn Irom every city where any (Midden division had an operation. They painted ".Spred Satin" on news papers, allowed it to dry in front of customers, and within 20 minutes 1942: Joyce steps down from his own plane poured ketchup or mustard or other staining materials over the fresh paint. Then they scrubbed it off to show "Spred Satin's" washability, resistance to scrubbing, speed of drying, and the ease of cleaning up afterward. Paint as an impulse buy It was probably the first time paint became an "impulse purchase." Amazed customers hurried from the demonstra tion counters to the paint department to buy the first synthetic latex paint. It was fully two years before competitors^ tired of waiting for Joyce and Glidden to fall on latex-covered faces, jumped into the field. Today Glidden is among the world's four largest paint manufacturers. It has licensing arrangements for sale of its paint on every continent in the world, and in almost every nation and it dis tributes a complete line of enamels, lacquers, varnishes, stains and other products. Roughly 60 per cent of its paint sales are to professional and ama teur painters. The other 40 per cent goes into industry, and to the govern ment and military. Glidden's success as a leading paint merchandiser is attributed by Glidden to its program of national advertising on a continuous basis to promote yearround painting and eliminate seasonal drops in business. The Glidden Co. and. its agency (Meldrum & Fewsmith) are known for a readiness to pioneer. They think thev were the first to advertise using at tractive pictures of rooms freshly de corated with Glidden paints, showing what the paint can's contents could do. Glidden broke industry precedent when it advertised paint nationally, in lull-color ads in "Life" and "The'Sat- GLD 041086 urday Evening Post," in 1949. Most paint advertising had been purely re gional, as most paint manufacturers were small with local markets. Glidden began "talking to the trade through the big consumer magazines." Color spreads in national magazines won dealers to ask for Glidden Spred Satin. Upsetting industry notions Glidden also pioneered in upsetting two hidebound industry notions--that daytime TV was a poor selling med ium, and women did not buy paint. Altogther, Glidden's paint advertis ing budgets run between four and fourand-a-half per cent of yearly sales (the division accounts for 42 per cent of total company sales) and Glidden today spends about $4,750,000 to advertise its diversified line of prod ucts. Dwight Joyce's view is: "I learned by experience through the years that advertising is the salesman's main tool. At Glidden we make sure we have a good, reliable product. Then we subsidize that product . . . We know that in time advertising will create the market to absorb the product and give us a profit. "We are doing this now with the Durkee division's new "Minced Instant Onion." Last year we spent more on this product than the profit the sales netted. But we know it's a good prod uct. We are confident that it will soon be selling very well." The Durkee Famous Foods division in 1958 contributed 46 per cent of sales. It was acquired as a small but wellrespected company with a full line of spices and other food products. Adrian Joyce bought it mainly to market Glidden's food products under Durkec's name and expel a belief "that it was making margarine and food products from the dregs of the paint kettles." Today Durkee is a leader in pack aged spices, seasonings, coconut, flavor ing extracts, meat sauce, Worcestershire sauce and other retail specialties. The same products are also packaged in bulk for bakeries, confectioners and institutions. Two-thirds of Durkee sales however, consist of bulk shortenings, specialty edible oil products and refined oils that are sold to bakers, food proc essors and mass-feeding establishments. Glidden has two other divisions to day: The chemicals-pigments-metals division which last year accounted for eight per cent of sales and the organic chemicals division which makes terpene chemicals, synthetic resins and tall oil products. Both sell to industry and their advertising appears mainly in special ized journals and in direct-mail. Dwight Joyce became Glidden's board chairman, as well as president, in 1955 after his father died. He began a program of selling or closing com pany operations that yielded, he 17-A Ice Ilepellant" now used by the thought, too low a profit for the capital U.S. Air Force and planes that fly in investment involved. In the last five freezing atmospheres. When a Glidden years he has discontinued or sold op veteran, George Wilson, discovered that erations that produced annual sales ol the ice repellant had excellent lu 861.000. 000 because from these sales bricating qualities, because of its sili had come pre-tax profits of less than cone content, Joyce told him to trv $1,000,000, although they required a selling it. Wilson sold 11 cases in 842.000. 000 capital investment. The 11 calls. funds released have been reinvested Joyce experimented with a squeaky in the more profitable operations. fan belt on his wife's Chrysler and Today Joyce and his second Wife, the found that the ice repellant, in a spray, former Marion Stephens Brown, live in quieted the Squeak with miraculous Fairview Park, a westerly suburb of speed. To silence a similar squeak on Cleveland. Joyce has two sons, two another car he owned had required daughters and ten grandchildren by drilling 16 hoTes in the fan belt fly his first wife, Louise Parker, who died wheel. Joyce and Wilson began selling in 1942. Joyce's elder son, Charles, it to auto maintenance shops and ga worked for Glidden for a time, is now rages. Chevrolet has just ordered 75,- sales manager of the container division 000 packages in sprat' cans and the of the Weyerhaeuser Timber Co. His product is now sold to the consumers. younger son David is institutional sales manager for Durkee. There are also six The expanding population other of old Adrian Joyce's grandsons One story Joyce enjoys telling has to at Glidden, all doing well. do with "How I was rescued from my A new product is born own stupidity by the boll weevil." Two chemists from his organic chemicals Today Dwight Joyce earns $125,213 division told him one day that they had annually, owns (with his family) less discovered a way to make synthetic than two per cent of Glidden stock and camphor. Joyce ignited with their en lives a quiet life at home (when not thusiasm. "I called the executive com mittee together and we authorized $250,000 to build them a plant to make synthetic camphor," he recalls. "Soon the plant was operating and making synthetic camphor . . , lots of it . . . good camphor . . . and cheap. But to our dismay we learned there was no market for synthetic camphor- no one wanted to buy it. The lesson this taught me was: Make a market survey before you build a plant to produce a product." Fortunately, the Hercules Power Co. of New Jersey had come out with a new insecticide and one of its main ingredients was a compound called "camphene," also an ingredient of synethetic camphor. "The Hercules people took all the camphene the new plant could make--but through no fault of, or credit to, Glidden--or to me," Joyce says. Joyce's pretty wife is a former decorator Joyce is completely optimistic about all divisions of his company. He traveling), staying in to read newspa stresses that expanding population and pers, books and magazines whenever the new family units will result in he can. He is up at 5:30 daily, arrives greater consumption of food and more in his office by 8:15, leaves promptly paint purchases for homes. Higher in at 5, tinkers with his power mower or comes are increasing the use of spices repaints rooms with Spred Satin, and and more food is being bought, he is in bed bv 10 o'clock. He has gray says. In trade sales, more paint is but still curly hair, wears steel-rimmed being used in factories, hotels, and bifocals, is an easy, animated talker. stores as the economy expands. In a He weighs in at 185 pounds and has to parallel way, more convenience foods battle to keep it there. He owns, a J-35 are being sold to bakeries, hotels and Beechcraft Bonanza four-seater plane restaurants. Joyce believes that indus and logs some 250 air hours every year try, too, will be buying greater quanti on business trips and weekends. ties of chemicals, pigments and powder His interest in aircraft led to the de metals, and more organic chemicals. velopment and marketing of "Glidair From Glidden. GLB 04108