Monthly Archives: July 2014

David Karp – Aged 24 yrs

Standard

David karp   David Karp – Aged 24 yrs

Worth an estimated $5.5 million

David Started the company Tumblr.com in 2007, with the aim to help anyone, share anything online. Sounds a pretty good idea, but who is actually going to use it? Well, 4.2 million of us is the latest estimation, so I think it’s not a bad idea at all. So far he has been handed $5.5 million in venture capital funding (so this personal fortune may now be more or less) and he has helped hundreds and thousands of users to share their content around the globe.

David Karp (born July 6, 1986) is an American web developer and entrepreneur. He is the founder and CEO of the short-form blogging platform Tumblr. According to Forbes, Karp’s net worth exceeds $200 million, and Tumblr has been valued at $800 million. On May 20, 2013, it was announced that Yahoo! and Tumblr had reached an agreement for Yahoo! to acquire Tumblr for $1.1 billion. Karp would remain as CEO of the company.

Karp began his career as an intern under Fred Seibert at the animation company Frederator Studios, where he built the studio’s first blogging platform and conceived, wrote, and edited their first internet video network, Channel Frederator. Karp went on to work for online parenting forum UrbanBaby until it was sold to CNET in 2006. Karp then started his own software consulting company, Davidville, where he worked with computer engineer Marco Arment on projects for clients. During a gap between contracts in 2006, the two began work on a microblogging website, which was launched as Tumblr in February 2007. As of July 1, 2014, Tumblr hosts over 192.9 million blogs. In August 2009, Karp was named Best Young Tech Entrepreneur 2009 by BusinessWeek and in 2010, he was named to the MIT Technology Review TR35 as one of the top 35 innovators in the world under the age of 35.

Karp began interning at age 14 for animation producer Fred Seibert, founder of Frederator Studios.Karp’s mother had taught Seibert’s children at the Calhoun School and was friends with his wife. Karp was fascinated with the work of Frederator’s computer engineers and his visits became regular. After he started homeschooling, Karp also began taking Japanese classes at the Japan Society and saw a math tutor, with whom he worked on writing software for winning at blackjack and poker. When entrepreneur John Maloney sought technical help with UrbanBaby, an online parenting forum, a Frederator employee recommended Karp for the job. Karp completed the project, which had to be done in a couple of days, within four hours. Maloney made him UrbanBaby’s head of product and gave him a small amount of equity. At age 17, while still working for UrbanBaby, Karp moved alone to Tokyo for five months. It was a full three months after Karp had moved to Tokyo that UrbanBaby found out he wasn’t in New York.

Karp left UrbanBaby after it was sold to CNET in 2006. Using money from the sale of his shares, Karp started his own software consultancy company, Davidville, envisioning a mix of client work and his own products. Marco Arment joined the company as an engineer after replying to Karp’s Craigslist ad. Karp had been interested in tumblelogs for some time and was waiting for one of the established blogging platforms to introduce their own tumblelogging platform. As no one had done so after a year of waiting, Karp and Arment began working on their own tumblelogging platform during a two-week gap between contracts in 2006.Tumblr was launched in February 2007 and within two weeks, the service had gained 75,000 users.

I realized that I got to spend that entire day working on this product that I absolutely loved. … And it was this incredible, liberating, unbelievably inspiring feeling.

first day of work dedicated solely to Tumblr

In October 2007, Karp shut down his consultancy business as his work with Tumblr was interfering with his client work. Davidville was renamed Tumblr, Inc.and 25 percent of the company was sold to a small group of investors. As of July 1, 2014, Tumblr hosts over 192.9 million blogs.

On May 20, 2013, it was announced that Yahoo! and Tumblr had reached an agreement for Yahoo! to acquire Tumblr for $1.1 billion. Karp would remain as CEO.

mlmsky.com
www.indiangiftsky.com
www.atulitbaldhama.com

JP Morgan

Standard

JohnPierpontMorgan     JP Morgan 1837-1913

Starting with railroads, Morgan reorganized the public utilities and steel industries before going on to refinance the U.S. government’s war debt. That same government later investigated the wealthy businessman for antitrust practices. As he testified before a House committee, Morgan told members, “The first thing is character…. Before money or anything else. Money cannot buy it.” Morgan recognized the importance of strong character and reputation in business. Often mentioned with Gilded Age greats such as Andrew Carnegie and John D Rockefeller, Morgan is regarded as the most important banker to ever live.

John Pierpont “J.P.” Morgan (April 17, 1837 – March 31, 1913) was an American financier, banker, philanthropist and art collector who dominated corporate finance and industrial consolidation during his time. In 1892, Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric. After financing the creation of the Federal Steel Company, he merged it in 1901 with the Carnegie Steel Company and several other steel and iron businesses, including Consolidated Steel and Wire Company, owned by William Eden born, to form the United States Steel Corporation.

At the height of Morgan’s career during the early 1900s, he and his partners had financial investments in many large corporations and had significant influence over the nation’s high finance and United States Congress members. He directed the banking coalition that stopped the Panic of 1907. He was the leading financier of the Progressive Era, and his dedication to efficiency and modernization helped transform American business.

Morgan died in Rome, Italy, in his sleep in 1913 at the age of 75, leaving his fortune and business to his son, John Pierpont Morgan, Jr.

Morgan went into banking in 1857 at the London branch of merchant banking firm, Peabody, Morgan & Co., a partnership between his father and George Peabody founded three years earlier. In 1858, he moved to New York City to join the banking house of Duncan, Sherman & Company, the American representatives of George Peabody and Company. During the American Civil War, Morgan purchased five thousand defective rifles from an army arsenal at $3.50 each and then resold them to a field general for $22 each. Morgan had avoided serving during the war by paying a substitute $300 to take his place. From 1860 to 1864, as J. Pierpont Morgan & Company, he acted as agent in New York for his father’s firm, renamed “J.S. Morgan & Co.” upon Peabody’s retirement in 1864. From 1864 to 1872, he was a member of the firm of Dabney, Morgan, and Company. In 1871, he partnered with the Drexels of Philadelphia to form the New York firm of Drexel, Morgan & Company. At that time, Anthony J. Drexel became Pierpont’s mentor at the request of Junius Morgan.

After the death of Anthony Drexel, the firm was rechristened “J. P. Morgan & Company” in 1895, retaining close ties with Drexel & Company of Philadelphia; Morgan, Harjes & Company of Paris; and J.S. Morgan & Company (after 1910 Morgan, Grenfell & Company), of London. By 1900, it was one of the most powerful banking houses of the world, focused especially on reorganizations and consolidations.

Morgan had many partners over the years, such as George W. Perkins, but always remained firmly in charge. Morgan’s process of taking over troubled businesses to reorganize them became known as “Morganization.” Morgan reorganized business structures and management in order to return them to profitability. His reputation as a banker and financier also helped bring interest from investors to the businesses he took over.

In 1895, at the depths of the Panic of 1893, the Federal Treasury was nearly out of gold. President Grover Cleveland accepted Morgan’s offer to join with the Rothschilds and supply the U.S. Treasury with 3.5 million ounces of gold to restore the treasury surplus in exchange for a 30-year bond issue. The episode saved the Treasury but hurt Cleveland’s standing with the agrarian wing of the Democratic Party, and became an issue in the election of 1896, when banks came under a withering attack from William Jennings Bryan. Morgan and Wall Street bankers donated heavily to Republican William McKinley, who was elected in 1896 and re-elected in 1900.

In 1896, Adolph Simon Ochs, who owned the Chattanooga Times, secured financing from Morgan to purchase the financially struggling New York Times. The New York Times became the standard for American journalism by investing in news gathering and insisting on the highest quality of writing and reporting.

After the death of his father in 1890, Morgan took control of J. S. Morgan & Co. (which was renamed Morgan, Grenfell & Company in 1910). Morgan began talks with Charles M. Schwab, president of Carnegie Co., and businessman Andrew Carnegie in 1900. The goal was to buy out Carnegie’s steel business and merge it with several other steel, coal, mining and shipping firms to create the United States Steel Corporation. In 1901 U.S. Steel was the first billion-dollar company in the world, having an authorized capitalization of $1.4 billion, which was much larger than any other industrial firm and comparable in size to the largest railroads.

U.S. Steel aimed to achieve greater economies of scale, reduce transportation and resource costs, expand product lines, and improve distribution. It was also planned to allow the United States to compete globally with the United Kingdom and Germany. Schwab and others claimed that U.S. Steel’s size would allow the company to be more aggressive and effective in pursuing distant international markets (“globalization”). U.S. Steel was regarded as a monopoly by critics, as the business was attempting to dominate not only steel but also the construction of bridges, ships, railroad cars and rails, wire, nails, and a host of other products. With U.S. Steel, Morgan had captured two-thirds of the steel market, and Schwab was confident that the company would soon hold a 75 percent market share. However, after 1901 the business’ market share dropped. Schwab resigned from U.S. Steel in 1903 to form Bethlehem Steel, which became the second largest U.S. steel producer.

Labor policy was a contentious issue. U.S. Steel was non-union and experienced steel producers, led by Schwab, wanted to keep it that way with the use of aggressive tactics to identify and root out pro-union “troublemakers.” The lawyers and bankers who had organized the merger—notably Morgan and CEO Elbert “Judge” Gary—were more concerned with long-range profits, stability, good public relations, and avoiding trouble. The bankers’ views generally prevailed, and the result was a “paternalistic” labor policy. (U.S. Steel was eventually unionized in the late 1930s.)

Quote: “A man always has two reasons for what he does-a good one, and the real one.”

mlmsky.com
www.indiangiftsky.com
www.atulitbaldhama.com

Herb Kelleher 1931

Standard

herb kelleher      Herb Kelleher 1931

What started as a regional carrier serving Dallas, Houston and San Antonio became one of the industry’s pioneering low-cost, no-frills airlines. Founded by Herb Kelleher and partner Rollin King in 1967, Southwest Airlines posted its 35th consecutive year of profitability in 2007.

The airline has been known for campy antics-flight attendants singing in-flight travel announcements to the tune of popular songs, pilots telling jokes over the intercom-Kelleher was even known to help load luggage, process tickets or mix drinks onboard, He says happy employees make better employees. “Your people come first, and if you treat then right, they’ll treat the customers right,” Kelleher says.

Herbert “Herb” David Kelleher (born March 12, 1931) is the co-founder, Chairman Emeritus, and former CEO of Southwest Airlines (based in the United States).

Kelleher was born in Camden, New Jersey on March 12, 1931 and raised in Audubon, New Jersey, where he graduated from Haddon Heights High School. He has a bachelor’s degree from Wesleyan University where he was an Olin Scholar and where his major was English and his minor Philosophy, and a Juris Doctor from New York University where he was a Root-Tilden Scholar. At Wesleyan he was a member of Delta Kappa Epsilon fraternity. He is married to the former Joan Negley and they have four children.

Career

The Kellehers moved to Texas intending to start a law firm or a business. Kelleher and one of his law clients, Texas businessman Rollin King, created the concept that later became Southwest Airlines on a cocktail napkin in a San Antonio, Texas restaurant. From its birth in 1971 — after overcoming a year’s worth of legal challenges from competitors who tried to keep it grounded — Southwest succeeded by daring to be different: offering low fares to its passengers by eliminating unnecessary services and avoiding the “hub-and-spoke” scheduling system used by other airlines in favor of building traffic in such secondary airports as Albany, Chicago-Midway (instead of Chicago-O’Hare) and Orange County.

During his tenure as CEO of Southwest, Kelleher’s colorful personality created a corporate culture which made Southwest employees well known for taking themselves lightly—often singing in-flight announcements to the tune of popular theme songs—but their jobs seriously. Southwest has never had an in-flight fatality. Southwest is consistently named among the top five Most Admired Corporations in America in Fortune magazine’s annual poll. Fortune has also called him perhaps the best CEO in America. Kelleher was inducted into the Junior Achievement U.S. Business Hall of Fame in 2004.

On July 19, 2007, Southwest Airlines announced that Kelleher would step down from the role of Chairman and resign from the board of directors in May 2008, though he would remain a full-time employee for another five years. Kelleher ultimately stepped down as chairman on May 21, 2008. Immediately following, Southwest Airlines named current CEO, Gary C. Kelly the new Chairman of the Board of Directors.

In July 2010 Kelleher was appointed Chair of the Federal Reserve Bank of Dallas board of directors for 2011. Kelleher’s term expired in 2013. Previously, he had served as Deputy Chair.

Awards

Tony Jannus Award for outstanding leadership in the commercial aviation industry, 1993.

Bower Award for Business Leadership, 2003.

L. Welch Pogue Award for Lifetime Achievement in Aviation, 2005.

Charles Lindbergh Award for Excellence in aviation, 2006. Smithsonian Air and Space Museum, Washington.

Quote: “Get to know your people.

Everybody from pilots to flight attendants to baggage handlers to mechanics to janitors. Learn from them.”

mlmsky.com
www.indiangiftsky.com
www.atulitbaldhama.com

Henry Ford 1863-1947

Standard

Henry_ford_1919    Henry Ford 1863-1947

Henry ford insisted on making a car that was affordable for everyone. His goal ran counter to the wishes of his backers at Ford Motor Co, who sought to maximize profits by building cars for the rich. As a key intiator of the moving assembly line, the company mass-produced cars faster and cheaper than other companies. Ford also paid his workers a real living wage and, through mass consumption, made Ford Motor Co. very profitable—eventually buying out even the most skeptical of backers. Perhaps most impotently, he helped create a middle class with “America’s Everyman car,” his black model T(the only color the company produced for years). While he had many personal flawed, Ford’s vision of an affordable car enabled more people to commute to work and be more selective about jobs, eventually leading to more free time, including time for Sunday drives.

Henry Ford (July 30, 1863 – April 7, 1947) was an American industrialist, the founder of the Ford Motor Company, and sponsor of the development of the assembly line technique of mass production. Although Ford did not invent the automobile or the assembly line,[1] he developed and manufactured the first automobile that many middle class Americans could afford. In doing so, Ford converted the automobile from an expensive curiosity into a practical conveyance that would profoundly impact the landscape of the twentieth century. His introduction of the Model T automobile revolutionized transportation and American industry. As owner of the Ford Motor Company, he became one of the richest and best-known people in the world. He is credited with “Fordism”, mass production of inexpensive goods coupled with high wages for workers. Ford had a global vision, with consumerism as the key to peace. His intense commitment to systematically lowering costs resulted in many technical and business innovations, including a franchise system that put dealerships throughout most of North America and in major cities on six continents. Ford left most of his vast wealth to the Ford Foundation and arranged for his family to control the company permanently.

Ford was also widely known for his pacifism during the first years of World War I, and also for being the publisher of anti-Semitic texts such as the book The International Jew.

In 1891, Ford became an engineer with the Edison Illuminating Company. After his promotion to Chief Engineer in 1893, he had enough time and money to devote attention to his personal experiments on gasoline engines. These experiments culminated in 1896 with the completion of a self-propelled vehicle which he named the Ford Quadricycle. He test-drove it on June 4. After various test drives, Ford brainstormed ways to improve the Quadricycle.

Also in 1896, Ford attended a meeting of Edison executives, where he was introduced to Thomas Edison. Edison approved of Ford’s automobile experimentation. Encouraged by Edison, Ford designed and built a second vehicle, completing it in 1898. Backed by the capital of Detroit lumber baron William H. Murphy, Ford resigned from the Edison Company and founded the Detroit Automobile Company on August 5, 1899. However, the automobiles produced were of a lower quality and higher price than Ford wanted. Ultimately, the company was not successful and was dissolved in January 1901.

With the help of C. Harold Wills, Ford designed, built, and successfully raced a 26-horsepower automobile in October 1901. With this success, Murphy and other stockholders in the Detroit Automobile Company formed the Henry Ford Company on November 30, 1901, with Ford as chief engineer. In 1902, Murphy brought in Henry M. Leland as a consultant; Ford, in response, left the company bearing his name. With Ford gone, Murphy renamed the company the Cadillac Automobile Company.

Teaming up with former racing cyclist Tom Cooper, Ford also produced the 80+ horsepower racer “999” which Barney Oldfield was to drive to victory in a race in October 1902. Ford received the backing of an old acquaintance, Alexander Y. Malcomson, a Detroit-area coal dealer. They formed a partnership, “Ford & Malcomson, Ltd.” to manufacture automobiles. Ford went to work designing an inexpensive automobile, and the duo leased a factory and contracted with a machine shop owned by John and Horace E. Dodge to supply over $160,000 in parts. Sales were slow, and a crisis arose when the Dodge brothers demanded payment for their first shipment.

Quote. “Stay true to your vision and follow your instincts-even if your backers advise otherwise.”

mlmsky.com
www.indiangiftsky.com
www.atulitbaldhama.com

Harland Sanders 1890-1980

Standard

colonel harlan sanders    Harland Sanders 1890-1980

More than a good cook, Harland Sanders was an instinctive businessman who saw the possibilities for franchising his fast-food chicken restaurants at a time in his life when he almost thought of retiring. The now-global franchise of Kentucky Fried Chicken (KFC) began as Sanders Café, a modest gas station kitchen in Kentucky. After a fire, he rebuilt with a restaurant and hotel that were popular with travelers-until a new interstate highway diverted traffic away from the spot. Sanders, than in his 50s, hung up his apron and prepared for retirement.

Convinced there was a larger market for his secret-recipe chicken, he set about selling it to restaurant owners door-to-door. What makes KFC’s Story unique is how the successful fast-food chicken chain and served as spokesman into late 80s. At 87, he testified against mandatory retirement before the U.S. House of Representatives.

Sanders was born on September 9, 1890 in a four-room house located 3 miles (5 km) east of Henryville, Indiana. He was the oldest of three children born to Wilbur David and Margaret Ann (née Dunlevy) Sanders. The family attended the Advent Christian Church. The family were of mostly Irish and English ancestry.

His father was a mild and affectionate man who worked his 80 acre farm, until he broke his leg after a fall. He then worked as a butcher in Henryville for two years. One summer afternoon in 1895, he came home with a fever and died later that day. Sanders’ mother obtained work in a tomato-canning factory; and the young Harland was required to look after and cook for his siblings. When he was 10 he began to work as a farmhand for local farmers Charlie Norris and Henry Monk.

Sanders’ mother remarried in 1902, and the family moved to Greenwood, Indiana. Sanders had a tumultuous relationship with his stepfather, and in 1903 he dropped out of school, and went to live and work on a nearby farm. He then took a job painting horse carriages in Indianapolis. When he was 14 he moved to southern Indiana to work as a farmhand for Sam Wilson for two years. In 1906, with his mother’s approval, he left the area to live with his uncle in New Albany, Indiana. His uncle worked for the streetcar company, and secured Sanders a job as a conductor.

Sanders falsified his date of birth and enlisted in the United States Army in November 1906, completing his service commitment as a teamster in Cuba. He was honorably discharged after three months and in 1907 moved to Sheffield, Alabama, where an uncle lived. There, he met his brother Clarence who had also moved there in order to escape his stepfather. The uncle worked for the Southern Railroad, and secured Sanders a job there as a blacksmith’s helper in the workshops. After two months, Sanders moved to Jasper, Alabama where he got a job cleaning out the ash pans of trains from the Northern Alabama Railroad (a division of the Southern Railroad) when they had finished their run. Sanders progressed to become a fireman at the age of 16.

In 1909 Sanders found laboring work with the Norfolk and Western Railway. Whilst working on the railroad, he met Josephine King of Jasper, Alabama, and they were married shortly afterwards. They would go on to have a son, Harland, Jr., who died young in 1932 from infected tonsils, and two daughters, Margaret Sanders and Mildred Sanders Ruggles. He then found work as a fireman on the Illinois Central Railroad, and he and his family moved to Jackson, Tennessee. Meanwhile, Sanders studied law by correspondence at night through the La Salle Extension University. Sanders lost his job at Illinois after brawling with a work colleague. While Sanders moved to work for the Rock Island Railroad, Josephine and the children went to live with her parents. After a while, Sanders began to practice law in Little Rock for three years, and he earned enough fees for his family to move with him. His legal career ended after he got engaged in a courtroom brawl with his own client.

After that, Sanders moved back with his mother in Henryville, and went to work as a laborer on the Pennsylvania Railroad. In 1916, the family moved to Jeffersonville, where Sanders got a job selling life insurance for the Prudential Life Insurance Company. Sanders was eventually fired for insubordination. He moved to Louisville and got a salesman job with Mutual Benefit Life of New Jersey.

In 1920, Sanders established a ferry boat company, which operated a boat on the Ohio River between Jeffersonville and Louisville. He canvassed for funding, becoming a minority shareholder himself, and was appointed secretary of the company. The ferry was an instant success. In around 1922 he took a job as secretary at the Chamber of Commerce in Columbus, Indiana. He admitted to not being very good at the job, and resigned after less than a year. Sanders cashed in his ferry boat company shares for $22,000 and used the money to establish a company manufacturing acetylene lamps. The venture failed after Delco introduced an electric lamp that they sold on credit.

Sanders moved to Winchester, Kentucky, to work as a salesman for the Michelin Tire Company. He lost his job in 1924 when Michelin closed their New Jersey manufacturing plant. In 1924, by chance, he met the general manager of Standard Oil of Kentucky, who asked him to run a service station in Nicholasville. In 1930, the station closed as a result of the Great Depression.

In 1930, the Shell Oil Company offered Sanders a service station in Corbin, Kentucky rent free, in return for paying them a percentage of sales. Sanders began to serve chicken dishes and other meals such as country ham and steaks. Since he did not have a restaurant, he served the customers in his adjacent living quarters. He was commissioned as a Kentucky Colonel in 1935 by Kentucky governor Ruby Laffoon. His local popularity grew, and in 1939 food critic Duncan Hines visited Sanders’s restaurant and included it in Adventures in Good Eating, his guide to restaurants throughout the US. The entry read:

Corbin, KY.   Sanders Court and Café

41 — Jct. with 25, 25 E. ½ Mi. N. of Corbin. Open all year except Xmas.

A very good place to stop en route to Cumberland Falls and the Great Smokies. Continuous 24-hour service. Sizzling steaks, fried chicken, country ham, hot biscuits. L. 50¢ to $1; D., 60¢ to $1

In July 1939 Sanders acquired a motel in Asheville, North Carolina. His Corbin restaurant and motel was destroyed in a fire in November 1939, and Sanders had it rebuilt as a motel with a 140 seat restaurant. By July 1940, Sanders had finalized his “Secret Recipe” for frying chicken in a pressure fryer that cooked the chicken faster than pan frying. As the United States entered World War II in December 1941, gas was rationed, and as the tourists dried up, Sanders was forced to close his Asheville motel. He went to work as a supervisor in Seattle until the latter part of 1942. He later ran cafeterias for the government at an Ordinance Works in Tennessee, followed by a job as an assistant manager at a cafeteria in Oak Ridge, Tennessee.

He left his mistress, Claudia Ledington-Price, as manager of the Corbin restaurant and motel. In 1942 he sold the Asheville business. In 1947, he and Josephine divorced and Sanders married Claudia in 1949, as he had long desired. Sanders was “re-commissioned” as a Kentucky Colonel in 1949 by his friend, Governor Lawrence Wetherby.

In 1952, Sanders franchised “Kentucky Fried Chicken” for the first time, to Pete Harman of South Salt Lake, Utah, the operator of one of that city’s largest restaurants. In the first year of selling the product, restaurant sales more than tripled, with 75% of the increase coming from sales of fried chicken. For Harman, the addition of fried chicken was a way of differentiating his restaurant from competitors; in Utah, a product hailing from Kentucky was unique and evoked imagery of Southern hospitality. Don Anderson, a sign painter hired by Harman, coined the name Kentucky Fried Chicken.

Sanders signing his autograph, 1974.

At age 65 (around 1955), Sanders’ sold his Corbin outlet after the new Interstate 75 reduced his restaurant’s customer traffic. Sanders decided to begin to franchise his chicken concept in earnest, and traveled the US looking for suitable restaurants. After closing the Corbin site, Sanders and his wife Claudia opened a new restaurant and company headquarters in Shelbyville in 1959.

The franchise approach became highly successful; KFC was one of the first fast food chains to expand internationally, opening outlets in Canada and later in England, Mexico and Jamaica by the mid-1960s. The company’s rapid expansion to more than 600 locations became overwhelming for the aging Sanders. In 1964 he sold the Kentucky Fried Chicken corporation for $2 million to a partnership of Kentucky businessmen headed by John Y. Brown, Jr. (a then-29-year-old lawyer and future governor of Kentucky) and Jack C. Massey (a venture capitalist and entrepreneur), and he became a salaried brand ambassador. The initial deal did not include the Canadian operations (which Sanders retained) or the franchising rights in England, Florida, Utah, and Montana (which Sanders had already sold to others).

In 1965 Sanders moved to Mississauga, Ontario to oversee his Canadian franchises and continued to collect franchise and appearance fees both in Canada and in the U.S. Sanders bought and lived in a bungalow at 1337 Melton Drive in the Lakeview area of Mississauga from 1965 to 1980. In September 1970 he and his wife were baptized in the Jordan River. He also befriended Billy Graham and Jerry Falwell.

Sanders and his wife reopened their Shelbyville restaurant as “Claudia Sanders, The Colonel’s Lady” and served KFC-style chicken there as part of a full-service dinner menu, and talked about expanding the restaurant into a chain. He was sued by the company for it.

In 1973, he sued Heublein Inc.—the then parent company of Kentucky Fried Chicken—over the alleged misuse of his image in promoting products he had not helped develop. In 1975, Heublein Inc. unsuccessfully sued Sanders for libel after he publicly described their gravy as “wallpaper paste” to which “sludge” was added.

After reaching a settlement with Heublein, he sold the Colonel’s Lady restaurant, and it has continued to operate since then (currently as the “Claudia Sanders Dinner House”). It serves his “original recipe” fried chicken as part of its (non-fast-food) dinner menu, and it is the only non-KFC restaurant that serves an authorized version of the fried chicken recipe

Quote: “Tell customers there’s a secret in your product, and you’ve got their interest.”

www.mlmsky.com
www.indiangiftsky.com
www.atulitbaldhama.com

George Lucas 1944

Standard

George Lucas    George Lucas 1944

Unable to find a suitable company to create the special effects he wanted for star wars, George lucas created his own-industrial light and magic, that was the first step the filmmaker took in emerging from behind the camera and into the business world as a pioneering, entrepreneur understanding the potential value of merchandising and sequel rights, Lucas accepted a percentage of the 1977 box office take for star wars rather than a director’s salary. Securing the sequel rights was a creative insurance policy in case the film flopped, but obtaining the merchandising rights was a stroke of genius toy sets, action figures, soundtracks and costumes make up the approximately $13.5 billion in Star Wars memorabilia sales since 1977. In 2006, Hasbro, the  maker of star wars toys, immortalized lucas  as a limited-edition action figure dressed as a Storm Trooper “We placed George in his own universe that he created,” the toymaker told the media.

George Walton Lucas, Jr. (born May 14, 1944) is an American film director, screenwriter, producer, and ntrepreneur. He founded Lucasfilm and led the company as chairman and chief executive before selling it to The Walt Disney Company on October 30, 2012. He is best known as the creator of the space opera franchise Star Wars and the archaeologist adventurer character Indiana Jones. Lucas is one of the American film industry’s most financially successful filmmakers and has been nominated for four Academy Awards.

George Lucas is a filmmaker, with a film career dominated by writing and production. Aside from the nine short films he made in the 1960s, he also directed six major features. His work from 1971 and 1977 as a writer-director, which established him as a major figure in Hollywood, consists of just three films: THX 1138, American Graffiti, and Star Wars. There was a 22-year hiatus between the original Star Wars film and his only other feature-film directing credits, the three Star Wars prequels.

Lucas acted as a writer and executive producer on another successful Hollywood film franchise, the Indiana Jones series. In addition, he established his own effects company, Industrial Light and Magic (ILM), to make the original Star Wars film. The company is now one of the most successful in the industry.

Lucas co-founded the studio American Zoetrope with Coppola—whom he met during his internship at Warner Bros.—hoping to create a liberating environment for filmmakers to direct outside the perceived oppressive control of the Hollywood studio system. His first full length feature film produced by the studio, THX 1138, was not a success. Lucas then created his own company, Lucasfilm, Ltd., and directed American Graffiti (1973). His new-found wealth and reputation enabled him to develop a story set in space. Even so, he encountered difficulties getting Star Wars made. It was only because Alan Ladd, Jr., at 20th Century Fox liked American Graffiti that he forced through a production and distribution deal for the film, which ended up restoring Fox to financial stability after a number of flops.

Star Wars quickly became the highest-grossing film of all-time, displaced five years later by Spielberg’s E.T. the Extra-Terrestrial. After the success of American Graffiti and prior to the beginning of filming on Star Wars, Lucas was encouraged to renegotiate for a higher fee for writing and directing Star Wars than the $150,000 agreed. He declined to do so, instead negotiating for advantage in some of the as-yet-unspecified parts of his contract with Fox, in particular ownership of licensing and merchandising rights (for novelizations, T-shirts, toys, etc.) and contractual arrangements for sequels. The studio was unconcerned to relinquish these rights, as its last major attempt in the field, with the 1967 film, Doctor Dolittle, had proved a discouraging failure. Lucas exploited merchandising rights wisely, and Lucasfilm has earned hundreds of millions of dollars from licensed games, toys, and collectibles created for the franchise.

Director Jim Henson and Lucas and working on Labyrinth in 1986

Over the two decades after the first Star Wars film, Lucas worked extensively as a writer and/or producer, including the many Star Wars spinoffs made for film, TV, and other media. He acted as executive producer for the next two Star Wars films, commissioning Irvin Kershner to direct The Empire Strikes Back, and Richard Marquand to direct Return of the Jedi, while receiving a story credit on the former and sharing a screenwriting credit with Lawrence Kasdan on the latter. Lucas also acted as executive producer and story writer on all four of the Indiana Jones films, which he convinced his colleague and good friend, Steven Spielberg, to direct. Other notable projects as a producer or executive producer in this period include Kurosawa’s Kagemusha (1980), Lawrence Kasdan’s Body Heat (1981), Jim Henson’s Labyrinth (1986), Godfrey Reggio’s Powaqqatsi (1986) and the animated film The Land Before Time (1988). There were also some less successful projects, however, including More American Graffiti (1979), the ill-fated Howard the Duck (1986), which was the biggest flop of his career; Willow (1988, which Lucas also wrote); and Coppola’s Tucker: The Man and His Dream (1988). Between 1992 and 1996, Lucas served as executive producer for the television spinoff The Young Indiana Jones Chronicles. In 1997, for the 20th anniversary of Star Wars, Lucas went back to his trilogy to enhance and add certain scenes using newly available digital technology. These new versions were released in theaters as the Star Wars Trilogy: Special Edition. For DVD releases in 2004, the series received further revisions to make them congruent with the prequel trilogy. Besides the additions to the Star Wars franchise, in 2004 a George Lucas Director’s Cut of THX 1138 was released, with the film re-cut and containing a number of CGI revisions.

The animation studio Pixar was founded as the Graphix Group, one third of the Computer Division of Lucasfilm. Pixar’s early computer graphics research resulted in groundbreaking effects in films such as Star Trek II: The Wrath of Khan[14] and Young Sherlock Holmes, and the group was purchased in 1986 by Steve Jobs shortly after he left Apple after a power struggle at Apple Computer. Jobs paid US$5 million to Lucas and put US$5 million as capital into the company. The sale reflected Lucas’ desire to stop the cash flow losses from his 7-year research projects associated with new entertainment technology tools, as well as his company’s new focus on creating entertainment products rather than tools. A contributing factor was cash-flow difficulties following Lucas’ 1983 divorce concurrent with the sudden dropoff in revenues from Star Wars licenses following the release of Return of the Jedi.

Lucas at the Venice Film Festival in 2009.

The sound equipped system, THX Ltd, was founded by Lucas and Tomlinson Holman. The company was formerly owned by Lucasfilm, and contains equipment for stereo, digital, and theatrical sound for films, and music. Skywalker Sound and Industrial Light & Magic, are the sound and visual effects subdivisions of Lucasfilm, while Lucasfilm Games, later renamed LucasArts, produces products for the gaming industry.

In 1994, Lucas began work on the screenplay for the prequel Star Wars Episode I: The Phantom Menace, which would be the first film he had directed in over two decades. The Phantom Menace was released in 1999, beginning a new trilogy of Star Wars films. Lucas also directed Star Wars Episode II: Attack of the Clones and Star Wars Episode III: Revenge of the Sith which were released in 2002 and 2005, respectively. Numerous critics considered these films inferior to the previously released Star Wars films, though the prequels were nevertheless huge box office successes in each of their respective releases.

In 2008, he reteamed with Spielberg for Indiana Jones and the Kingdom of the Crystal Skull.

Lucas currently serves as executive producer for Star Wars: The Clone Wars, an animated television series on Cartoon Network, which was preceded by a feature film of the same name. He is also working on a so-far untitled Star Wars live-action series.

For the film Red Tails, Lucas serves as story-writer and executive producer. He also took over direction of reshoots while director Anthony Hemingway worked on other projects. Lucas is working on his first musical, an untitled CGI project being produced at Skywalker Ranch. Kevin Munroe is directing and David Berenbaum wrote the screenplay.

Quote: “Bigger budgets don’t guarantee better final products.”

www.mlmsky.com
www.indiangiftsky.com
www.atulitbaldhama.com

George Eastman 1854-1932

Standard

GeorgeEastman   George Eastman 1854-1932

George Eastman made photography an amateur sport. When competition in the camera industry heated up. He shifted his attention and created the film roll, which replaced cumbersome glass. Plates that required more complicated processing. The innovation also became the basis for motion picture film. Eastman obtained a patent for a camera to use the film roll and later developed the Eastman’s Kodak Brownie, which sold for $I, making it possible for average people to create their own Kodak moments.

George Eastman (July 12, 1854 – March 14, 1932) was an American innovator and entrepreneur who founded the Eastman Kodak Company and popularized the use of roll film, helping to bring photography to the mainstream. Roll film was also the basis for the invention of motion picture film in 1888 by the world’s first film-makers Eadweard Muybridge and Louis Le Prince, and a few years later by their followers Léon Bouly, Thomas Edison, the Lumière Brothers, and Georges Méliès.

He was a major philanthropist, establishing the Eastman School of Music, and schools of dentistry and medicine at the University of Rochester and in London; contributing to RIT and the construction of MIT’s second campus on the Charles River; and donating to Tuskegee and Hampton universities. In addition, he provided funds for clinics in London and other European cities to serve low-income residents.

George_Eastman_patent_no_388,850

In his final two years Eastman was in intense pain caused by a disorder affecting his spine. On March 14, 1932 Eastman shot himself in the heart, leaving a note which read, “To my friends: my work is done. Why wait?”

The George Eastman House, now operated as the International Museum of Photography and Film, has been designated a National Historic Landmark.

Eastman was born in Waterville, New York to George Washington Eastman and Maria Eastman (née Kilbourn), the youngest child, at the 10-acre farm which his parents bought in 1849. He had two older sisters, Ellen Maria and Katie. He was largely self-educated, although he attended a private school in Rochester after the age of eight. His father had started a business school, the Eastman Commercial College in the early 1840s in Rochester, New York, described as one of the first “boomtowns” in the United States, with a rapid growth in industry. As his father’s health started deteriorating, the family gave up the farm and moved to Rochester in 1860. His father died of a brain disorder in May 1862. To survive and afford George’s schooling, his mother took in boarders.

Maria’s second daughter, Katie, had contracted polio when young and died in late 1870 when George was 16 years old. The young George left school early and started working. As George Eastman began to experience success with his photography business, he vowed to repay his mother for the hardships she had endured in raising him.

In 1884, Eastman patented the first film in roll form to prove practicable; he had been tinkering at home to develop it. In 1888, he perfected the Kodak camera, the first camera designed specifically for roll film. In 1892, he established the Eastman Kodak Company, in Rochester, New York. It was one of the first firms to mass-produce standardized photography equipment. The company also manufactured the flexible transparent film, devised by Eastman in 1889, which proved vital to the subsequent development of the motion picture industry.

He started his philanthropy early, sharing the income from his business to establish educational and health institutions. Notable among his contributions were a $625,000 gift in 1901 (equivalent to $17.7 million in present day terms) to the Mechanics Institute, now Rochester Institute of Technology; and a major gift in the early 1900s to the Massachusetts Institute of Technology, which enabled the construction of buildings on its second campus by the Charles River. MIT opened this campus in 1916.

Quote: “price yourself into a mass market.”

www.mlmsky.com
www.indiangiftsky.com
www.atulitbaldhama.com

Frederick W. Smith

Standard

Frederick W. Smith  Frederick W. Smith 1944

Before Fred W. Smith purchased a small fleet of planes, the best way to ship your package cross-country was by train or automobile. The Federal Express founder made overnight express delivery possible with his innovative “hub and spoke” package processing system in the early 1970s. the idea, which he wrote about in a paper for an economics class at yale, was based on a bank-clearinghouse system. With the clearinghouse in the middle of the representative banks. Now FedEx moves approximately 6 million packages worldwide every day, and has expanded into print and copy services with the acquisition of Kinko’s.

Smith was born in Marks, Mississippi, the son of James Frederick Smith — who (before age 20) dropped his first name, expressing a preference to be known as Fred or Frederick — the founder of the Toddle House restaurant chain and the Smith Motor Coach Company (renamed the Dixie Greyhound Lines after The Greyhound Corporation bought a controlling interest in 1931). Fred Smith, the father, died while Fred Smith, the son, was only 4, and the boy was raised by his mother and uncles.

Smith was crippled by bone disease as a small boy but regained his health by age 10, before becoming an excellent football player and learning to fly at 15.

Smith had a great interest in flying, and became an amateur pilot as a teen. He attended elementary school at Presbyterian Day School and high school at Memphis University School In 1962, Smith entered Yale University. While attending Yale, he wrote a paper for an economics class, outlining overnight delivery service in a computer information age. Folklore suggests that he received a C for this paper, although in a later interview he claims that he told a reporter, “I don’t know what grade, probably made my usual C”, while other tales suggest that his professor told him that, in order for him to get a C, the idea had to be feasible. The paper became the idea of FedEx (for years, the sample package displayed in the company’s print advertisements featured a return address at Yale). Smith became a member and eventually the President of the Delta Kappa Epsilon fraternity and the secret society Skull and Bones. He received his Bachelor’s degree in economics in 1966. In his college years, he was a friend and DKE fraternity brother of George W. Bush. Smith was also friends with John Kerry and shared an enthusiasm for aviation with Kerry and was a flying partner with him.

Marine Corps service After graduation, Smith was commissioned in the U.S. Marine Corps, serving for three years (from 1966 to 1969) as a platoon leader and a forward air controller (FAC), flying in the back seat of the OV-10. Much mythology exists about this part of his life; Smith was a Marine Corps “Ground Officer” for his entire service. He was specially trained to fly with pilots and observe and ‘control’ ground action. He never went through Navy flight training and was not a “Naval aviator” or “pilot” in the military. Individuals who completed Navy flight training and became a “Designated Naval Aviator” (pilot) were obligated to serve six years at the time.

As a Marine, Smith had the opportunity to observe the military’s logistics system first hand. He served two tours of duty in Vietnam, flying with pilots on over 200 combat missions. He was honorably discharged in 1969 with the rank of Captain, having received the Silver Star, the Bronze Star, and two Purple Hearts. While in the military, Smith carefully observed the procurement and delivery procedures, fine-tuning his dream for an overnight delivery service.

Business career In 1970, Smith purchased the controlling interest in an aircraft maintenance company, Ark Aviation Sales, and by 1971 turned its focus to trading used jets. On June 18, 1971, Smith founded Federal Express with his $4 million inheritance (approximately $23 million in 2013 dollars), and raised $91 million (approximately $525 million in 2013 dollars) in venture capital. In 1973, the company began offering service to 25 cities, and it began with small packages and documents and a fleet of 14 Falcon 20 (DA-20) jets. His focus was on developing an integrated air-ground system, which had never been done before. Smith developed FedEx on the business idea of a shipment version of a bank clearing house where one bank clearing house was located in the middle of the representative banks and all their representatives would be sent to the central location to exchange materials.

In the early days of FedEx, Smith had to go to great lengths to keep the company afloat. In one instance, he took the company’s last $5,000 to Las Vegas and won $27,000 gambling on blackjack to cover the company’s $24,000 fuel bill.

Smith has served on the boards of several large public companies, the St. Jude Children’s Research Hospital and Mayo Foundation boards. He was formerly chairman of the Board of Governors for the International Air Transport Association and the U.S. Air Transport Association. Smith is chair of the Business Roundtable’s Security Task Force, and a member of the Business Council and the Cato Institute. He served as chairman of the U.S.-China Business Council and is the current chairman of the French-American Business Council. In addition, Smith was named 2006 Person of the Year by the French-American Chamber of Commerce. He is a member of the Aviation Hall of Fame. Smith was approached by Senator Bob Dole, who asked Smith for support in opening corporate doors for a new World War II memorial. Smith was appointed to co-chairman of the U.S. World War II Memorial Project. Smith was named as Chief Executive magazine’s 2004 “CEO of the Year”.

In addition to FedEx, Smith is also a co-owner of the Washington Redskins NFL Team. His son, Arthur Smith, who played football at the University of North Carolina, is an Offensive Line/Tight End Assistant Coach for the Tennessee Titans. This partnership resulted in FedEx sponsorship of the Joe Gibbs NASCAR racing team. Smith also owns or co-owns several entertainment companies, including Dream Image Productions and Alcon Films (producers of the Warner Bros. film Insomnia starring Al Pacino and Robin Williams).

In 2000, Smith made an appearance as himself in the Tom Hanks movie Cast Away, when Tom’s character is welcomed back, which was filmed on location at FedEx’s home facilities in Memphis, Tennessee.

A DKE Fraternity Brother of George W. Bush while at Yale, after Bush’s 2000 election, there was some speculation that Smith might be appointed to the Bush Cabinet as Defense Secretary. While Smith was Bush’s first choice for the position, he declined for medical reasons — Donald Rumsfeld was named instead. Although Smith was friends with both 2004 major candidates, John Kerry and George W. Bush, Smith chose to endorse Bush’s re-election in 2004. When Bush decided to replace Rumsfeld, Smith was offered the position again, but he declined in order to spend time with his terminally ill daughter.

Smith was a supporter of Senator John McCain’s 2008 Presidential bid, and had been named McCain’s National Co-Chairman of his campaign committee. Some had speculated that Smith might have a role as an economic advisor in a theoretical McCain administration.

Smith was inducted into the Junior Achievement U.S. Business Hall of Fame in 1998. His other awards include “CEO of the Year 2004” by Chief Executive Magazine and the 2008 Kellogg Award for Distinguished Leadership, presented by the Kellogg School of Management on May 29, 2008. He was also awarded the 2008 Bower Award for Business Leadership from The Franklin Institute in Philadelphia, Pennsylvania. He is the 2011 recipient of the Tony Jannus Award for distinguished contributions to commercial aviation.

While CEO of FedEx in 2008, Frederick W. Smith earned a total compensation of $10,434,589, which included a base salary of $1,430,466, a cash bonus of $2,705,000, stocks granted of $0, and options granted of $5,461,575. In June 2009, Smith expressed interest in purchasing the controlling share (60%) of the St. Louis Rams from Chip Rosen bloom and Lucia Rodriguez. In 2009, Frederick W. Smith earned a total compensation of $7,740,658, which included a base salary of $1,355,028, a cash bonus of $0, stocks granted of $0, options granted of $5,079,191, and other compensation totaling $1,306,439.

Quote: “If your business revolves around one idea, keep that idea foremost Hammer away at it.”

www.mlmsky.com
www.indiangiftsky.com
www.atulitbaldhama.com

Estee Lauder

Standard

estee lauderestee lauder 1

 

Estee Lauder 1908-2004

It’s not that the queen of cosmetic, Estee Lauder, didn’t trust others to do the dirty work, she just loved her company so much she insisted on getting her hands dirty with every little detail. Starting with skin creams concocted by her chemist uncle, she sold the products at beauty shops and resorts, worked the major department stores until Saks Fifth Avenue gave her counter space, and she kept on selling. Known to visit her cosmetics counters herself, Lauder would school sales staffs in giving customers personal attention and a gift. Her gifts-chic cosmetic bags full of samples-were brilliant innovations that continue in popularity.

The company began in 1946 when Estée Lauder (Josephine Esther Mentzer) and her husband Joseph Lauder began producing cosmetics in New York City. They first carried only four products: Super-Rich All Purpose Creme, Creme Pack, Cleansing Oil, and Skin Lotion. Two years later, they established their first department store account with Saks Fifth Avenue in New York.

Over the next fifteen years, they expanded the range and continued to sell their products in the United States. In 1960, the company started its first international account in the London department store Harrods. The following year it opened an office in Hong Kong.

In 1964, they started Aramis Inc. Designed by Arame Yeranyan, with the fragrance named after Yeremes – a city in Armenia. This produced fragrances and grooming products for men. In 1967, Estée Lauder herself was named one of ten Outstanding Women in Business in the United States by business and financial editors. This was followed by a Spirit of Achievement Award from Albert Einstein College of Medicine at Yeshiva University in 1968. In that year, the company expanded again, opening Clinique Laboratories, Inc. Clinique was the first dermatologist guided (Dr. Norman Orentreich), allergy tested, fragrance free cosmetic brand created by Estée Lauder.

Estée Lauder’s Clinique brand became the first women’s cosmetic company to introduce a second line for men when, in 1976, they began a separate line called “Skin Supplies for Men”, which continues to be sold at Clinique counters worldwide. In 1981, the company’s products became available in the Soviet Union.

In February 2004, the company’s teen-oriented jane business was sold; in April 2006, the professional-quality Stila brand, which Estée Lauder purchased in 1999, was sold.

The company has had sometimes iconic spokesmodels, sometimes referred to simply as ‘faces’. Past ‘faces’ for Estée Lauder include Karen Graham, Bruce Boxleitner, Shaun Casey, Willow Bay, Paulina Porizkova, Elizabeth Hurley, Carolyn Murphy, Anja Rubik, and actress Gwyneth Paltrow. As of 2008 the main spokes model for Estée Lauder is supermodel Hilary Rhoda. In 2010, the company added three more faces to the roster, Chinese model Liu Wen, Puerto Rican model Joan Smalls and French model Constance Jablonski. Their first campaigns will come out June 2010, and will be shot by Craig McDean.

As of 2010, Estée Lauder sold its products in department stores across the world and has a chain of freestanding retail outlets. On July 1, 2010, the company acquired Smash box Beauty Cosmetics, Inc., a brand created in Smash box Studios in Culver City, California by brothers Dean and Davis Factor (as in Max).

On October 28, 2011, Aramis and Designer Fragrances, a division of The Estée Lauder Companies Inc., and Tory Burch LLC announced the signing of a multi-year agreement for the exclusive worldwide license of the Tory Burch fragrance business. This partnership marks Tory Burch’s first step into the beauty industry. The first Tory Burch fragrance products are expected to be introduced in 2013.

Quote: “Put the product into the customer’s hands, it will speak for itself if it’s something of quality.”

www.mlmsky.com
www.indiangiftsky.com
www.atulitbaldhama.com

Eberhard Anheuser

Standard

Eberhard Anheuser  Eberhard Anheuser 1805-1880

Adolphus Busch 1839-1913

Until Eberhard Anheuser and his don-in-law Adolphus Busch envisioned brewing a national beer, most breweries of the day operated only locally. To ship the beer cross-country, the two brewers introduced technical developments to make the feat possible. In the 1870s, Anheuser-Busch was the first American brewery to introduce pasteurization, allowing beer to be bottled and shipped to new markets for consumption. It later introduced artificial refrigeration and refrigerated rail cars to distribute the beer cold from the brewery  with these innovations. Anheuser and Busch forever shaped the alcoholic beverage industry in the United States and is today responsible for about half of U.S. beer sales.

Eberhard Anheuser (1805 Bad Kreuznach – May 2, 1880) was a German-born soap and candle maker as well as the father-in-law of Adolphus Busch, the founder of the Anheuser-Busch Company. He and two of his brothers moved to America in 1842. He was a major creditor of the Bavarian Brewery Company, a struggling brewery founded in 1853. When the company encountered financial difficulty in 1860, he purchased the minor creditors’ interests and took over the company.

Eberhard Anheuser became president and CEO and changed the company name to the Eberhard Anheuser and Company. His daughter Lilly married Adolphus Busch, a brewery supply salesman, in a double wedding with Anna Anheuser (Lilly’s older sister) and Ulrich Busch (Adolphus’ brother) in 1861. The company became Anheuser-Busch in 1879. Anheuser died in 1880 and was buried in Bellefontaine Cemetery in St. Louis.

Quote: “Large-scale production and mass-marketing are meaningless without careful quality control.”

www.mlmsky.com
www.indiangiftsky.com
www.atulitbaldhama.com