By Mark Rhoads
Movie actor Bob Balaban comes from a show business family famous in both Chicago and nationally. Bob was born in Chicago on Aug. 16, 1945. His father Elmer and four of his six uncles created the Balaban and Katz (B&K) movie theater chain in the 1920s. The chain eventually had about 100 theaters in Chicago and suburbs. The landmark Chicago Theater at 175 N. State Street was the crown jewel of the B&K chain that was built as the first lavish theater palace designed speficially for movies when it opened on Oct. 26, 1921. The famous Uptown Theatre near Broadway and Lawrence was also a landmark B&K Theater in the Depression era. The Balaban family also created Chicago's first commercial television station, WBKB on Channel 4, (Balaban & Katz Broadcasting) in the 1940s.
Continue reading "Illinois Hall of Fame: Bob Balaban" »
By Mark Rhoads
Charles H. Percy was the last U.S. Senator from Illinois to complete three full terms in office. He served for 18 years from 1967 to 1985. Chuck Percy was born on Sept. 17, 1919 in Pensacola, Florida but he was raised in Chicago and Winnetka. He attended schools in Illinois and graduated from New Trier High School. In 1941, he graduated from the University of Chicago. At the age of only 22, he was working for and became a director of the Bell and Howell Camera Company in Chicago. The company was then headed by Joseph McNab who was Percy's Sunday School teacher and who became Percy's business mentor.
During World War II, Percy enlised in the U.S. Navy as an apprentice seaman was was honorably discharged in 1945 as a lieutenant. He rejoined Bell and Howell and at the age of 29 early in 1949, he was voted in as president of the company after the death of his predecessor Joseph McNab.
Continue reading "Illinois Hall of Fame: Charles Percy" »
By Mark Rhoads
Gustavus Franklin Swift was one of several pioneers in wholesale food distribution who took advantage of Chicago's railroad center and strategic location to revolutionize their various industries in the latter part of the 19th Century. Except for his family and his church, Swift was single minded in his determination and focus on improving his meat packing company and its services.
Swift was born on June 24, 1839 on Cape Cod near a town that was then called West Sandwich and is now called Sagamore, Massachusetts. In 1872 Swift became a partner in Hathaway and Swift, a butcher and slaughterhouse operation near Boston. Swift was the expert cattle buyer for the partnership and on his recommendation the company moved to Chicago in 1875 to take advantage of access to the Union Stock Yards.
Continue reading "Illinois Hall of Fame: Gustavus Swift" »
By Mark Rhoads
Paul G. Hoffman was an early automotive pioneer and businessman who was CEO and Chairman of The Studebaker Corporation in the 1940s. He was appointed by President Harry S. Truman in 1948 to direct the Marshall Plan for the economic reconstruction of western Europe after World War II. He also served President Dwight D. Eisenhower as U.S. Delegate to the United Nations in 1956. The illustration at right is from a cover of Time Magazine in 1948 just after his appointment to head the Marshall Plan.
Paul was born on April 26, 1891 in Western Springs, Illinois, 15 miles west of Chicago on the Chicago, Burlington, & Quincy Railroad. His father was an inventor. Paul attended grammar school at The Grand Avenue School in Western Springs. He graduated from Lyons Township High School in La Grange with the class of 1909. While he was in high school, Paul was a dare devil race car driver who competed in many early auto races in Illinois. When he was only 16 years old in 1907, Paul drove a Pierce Arrow car as one of 36 entries in the three-day Chicago Motor Club endurance and reliability test. One of his competitors was the legendary Barney Olfield who drove an Autocar. Paul attended the University of Chicago. At age 20 in 1911, he moved to Los Angeles to work for Studebaker. He worked his way up from the bottom starting out as an auto mechanic, then a salesman, a sales supervisor, and company executive.
Continue reading "Illinois Hall of Fame: Paul G. Hoffman" »
By Mark Rhoads
It might seem odd to describe the current governor of New Jersey as an "Illinoisan" but his roots in the Land of Lincoln are deep. Gov. Jon S. Corzine (D-New Jersey) was born on Jan. 1, 1947 near Willey Station, a small town near Taylorville, Illinois in Christian County. His father was a farmer and an insurance salesman and Jon was raised on the family farm. His mother was a public school teacher. Jon was a quarterback for the Taylorville High School football team and captain of the basketball team. He graduated from Taylorville High School in 1965.
Corzine attended the University of Illinois at Champaign-Urbana and was a member of Phi Delta Theta fraternity. He graduated with a B.A. degree in 1969 and earned a Phi Beta Kappa key. Corzine had also joined the U.S. Marine Corps Reserve while he was still and undergraduate and went on a short period of active duty for training in 1970. He stayed in his Marine Corps Reserve infantry unit as a sergeant until 1975. While working days in the bond department of Continental Illinois National Bank in Chicago starting in 1970, Jon was also attending classes at night and earned his MBA degree from the University of Chicago Graduate School of Business in 1973.
Continue reading "Illinois Hall of Fame: Jon Corzine" »
By Mark Rhoads
Potter Palmer was the central figure in the development of downtown Chicago real estate in the 19th Century and was the principal designer of State Street in old Chicago. He was born on May 26,1826 near Albany, New York. When he was 26, Palmer founded a dry goods store on Lake Street in Chicago called Potter Palmer and Company.
Like many successful Chicago retailers, he looked for ways to put the customer first and in his case, that meant the innovation of a "no questions asked" return policy. If a customer was not satisfied for any reason with a product, he or she could return it to the store for a credit or refund. That may be common retail practice today but it was certainly not in the 1850s. Palmer tried particularly hard to cater to women customers, also an innovation for that time.
Continue reading "Illinois Hall of Fame: Potter Palmer" »
By Mark Rhoads
Bertha Honore Palmer, wife of Potter Palmer, was the leader of wealthy socialites in Chicago in the late 1800s and early 1900s. She would have been famous just for being the wife of the richest real estate developer in the city. But her own buisness skills after her husband's death in 1902 were equal to or better than those of many contemporary men. So much so that in just 16 years until her own death in 1918, she doubled the size of her husband's estate from $8 million to $16 million. In constant dollars, that amount would be equivalent to an estate of $214 million in 2006.
Bertha was born on May 22, 1849, in Louisville, Kentucky. Her wealthy family moved to Chicago in 1855. She married Potter Palmer in 1871 when she was 22 and he was 44. She became the leader of society in Chicago through her active contributions to the artistic, cultural, social, and civic affairs of the city.
Continue reading "Illinois Hall of Fame: Bertha Palmer" »
By Mark Rhoads
If ever a reputation for personal integrity and honesty was crucial to building a successful business, the importance of reputation was proven by the life story of George J. Mecherle. Mecherle was a McLean County farmer and the founder of the State Farm Insurance Company, a company that today is one of the top 20 of the Fortune 500. His last name is pronounced as if it were "Ma-herl." His parents were immigrants from Germany and he was born on June 7, 1877 as the fifth child on a family farm near the small town of Merna, Illinois about nine miles west of Normal. He only had one year of high school and married a neighbor, Mae Perry, in 1900.
His biographers have written that George was a good story teller and was well liked as a trusted business consultant. He worked his farm from 1900 to 1918 and was very successful. He owned more than 480 acres of prime land in McLean County and served as the county road commissioner and was a member of the Old Town Mutual Fire Insurance Company. Due to an illness of his wife, he moved his family briefly to Florida but that climate did not help her so they moved back to Normal around 1920. He worked for a while as an automobile insurance salesman. He reasoned that since farmers who drove trucks got into few accidents than urban car drivers, the farmers should get lower rates. In other ways, he also felt that insurance companies from big cities did not know the needs of farmers.
Continue reading "Illinois Hall of Fame: George J. Mecherle" »
By Mark Rhoads
John D. MacArthur was a rags-to-riches success story in the tradition of the author Horatio Alger. He came from humble beginnings to be the CEO and sole stockholder of Banker's Life and Casualty which he founded in Chicago in 1935. At the time of his death, he was one of the three richest men in America. He was the founder of The John D. and Catherine T. MacArthur Foundation based in Chicago.
MacArthur was born on March 6, 1897 in the small minging town of Pittston, Pennsylvania ten miles south of Scranton. He was the youngest of seven children born to William Telfer and Georgiana Welstead MacArthur. His father was a missionary and Baptist minister. The family was poor and for a while they lived in New York City. They then moved to Chicago where John attended grammar school and some high school but he quit school at 16.
MacArthur served in World War I with the British Royal Flying Corps rather than with American forces. He came back to Chicago to work with his brother Alfred MacArthur for National Life Insurance Company. For a while, he worked with his other brother Charles MacAthur, the journalist and playwrite, at The Chicago Herald Examiner, but returned to insurance in less than a year. Charles wrote The Front Page with Ben Hecht and his second wife was actress Helen Hayes. John acquired control of Marquette Life Insurance of Jerseyville, Illinois in 1928. The company survived the Depression and in 1935 John purchased ownership of Banker's Life and Casualty which became the foundation of his later personal fortune.
Continue reading "Illinois Hall of Fame: John D.MacArthur" »
By Mark Rhoads
At age 29 in 1903, James Kraft, the founder of Kraft Foods, found himself stranded in Chicago with $65 in his pocket. The Canadian-born businessman had come to Chicago to check on a branch of a Buffalo, New York cheese company that he worked for. But while he was in Chicago his colleagues dissolved their partnership with him.
Kraft invested his $65 in a horse named "Paddy" and a wagon and started a new food distribution business. Everyday he bought cheeses from warehouses on South Water Street. He knew how perishable cheese was and he wanted to resell fresh cheese to small grocery stores as fast as he could as early in the day as possible. The service was valuable to merchants who did not have the time to make the trip themselves and Kraft the man and his company soon prospered. Just six years later in 1909 his brothers John, Charles, Fred, and Norman were all working for James Kraft as president of a new company called JL Kraft Bros Co.
Mr. Kraft's investment of $65 in Paddy the horse and a wagon grew over the years. At present, Kraft Foods is the second-largest food and beverage company in the world with net revenues of $34 billion and more than 94,000 employees in 70 countries. The company headqarters is still based in Illinois with offices in Northfield.
Continue reading "Illinois Hall of Fame: James L. Kraft" »