In this issue
The cycle of life starts every Monday morning at the publishing firm called The Kiplinger Washington Editors. It's then that Austin Kiplinger and his son Knight sit down with their 18 editors to discuss the contents of that week's Kiplinger Washington Letter and decide on assignments. All ideas are held up to the same words Austin's father used to cut to the heart of matters in 1923 when he published the first issue: "So what?"
"If I thought it was better for the business to have a family member in it, I'd find one somewhere," insists David Linwood Coffin Sr., chairman of The Dexter Corporation. "I think the family has done better by parting with history."
Coffin, 64, retired as chief executive of Dexter at year's end, and it was announced that for the first time in the company's history, which goes back to pre-Revolutionary War days, a nonfamily member, K. Grahame Walker, was taking over as CEO.
John Kramer's recent success created his current dilemma. As a building materials distributor, he had seen sales jump from $5 million to $20 million in five years.
Now, at age 60, John was pleased to have attracted the attention of a larger acquisition-minded distributor. After several visits, World Distributors offered John $4 million, an attractive price at 2.7 times book value.