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Found inside – Page 189The current article was written by Frank J. Wirken , Director of Personnel and Safety of Interstate Bakeries Corporation . “ Faced with rising costs from ... The company lost $43 million over the next five years, until it finally got back on its feet in 1974 and began to look for a company to acquire that would allow it to diversify its activities, since the computer leasing field no longer seemed tenable, as IBM continued to step up its pace of new product introductions. By the end of the 1960s, Interstate was baking bread in 30 different cities throughout the United States, in a total of 36 different plants. He served as a Director of RalCorp Holdings Inc. from January 1994 to January 2012. . One that comes to mind is the rise and fall of I.B.C. Active in community affairs, he is a trustee and officer of the YMCA of Greater Toledo and sits on the advisory committee of St. Patrick's of Heatherdowns Church and the advisory board of the University of Toledo . ''He came in and helped turn things around,'' Mr. Ravitch said, and the leasing business was sold. IBC Holdings Corporation (IBC) was formed to buy up all of Interstate's outstanding stock, and Interstate was taken private by its management, with the help of a group of investment banking houses, in September 1987. CHARLES A. DAILEY, Interstate Bakeries Corporation. Independent Director, Colgate-Palmolive Co. John T. Cahill is a businessperson who has been at the helm of 5 different companies is on the board of American Airlines, Inc. and 4 other companies. Still, despite this series of disasters, the company headed into the next century with full confidence that its 'Powerhouse Brands' would stimulate sales growth for years to come. He was chairman and chief executive officer of Pulte Homes, Inc. from 1974 to 1990. Found inside – Page 257STATEMENT OF ERNEST B. HUETER , CHAIRMAN OF THE BOARD , INTERSTATE BRANDS CORP . , ACCOMPANIED BY DONALD GERISH , SECRETARY , AMERICAN BAKERS ASSOCIATION ... A study of the relationship between body balance ac-tivity and perception. Found inside – Page 50STATEMENT OF ERNEST HUETER , CHAIRMAN OF THE BOARD , INTERSTATE BRANDS a Mr. ... I am Ernest B. Hueter , chairman of the board of Interstate Brands Corp. The Company is headquartered in Kansas City, Missouri. In August 1968, Interstate moved outside the baking industry for the first time, acquiring a food processor, the Baker Canning Company, and its subsidiaries, Shawano Farms, Inc. and the Shawano Canning Company, companies that canned peas, beans, and corn at three canneries in Wisconsin. Non-Executive Director, Chairman of TORM plc's Board of Directors. Found insideInterstate Brands Corp. shut down its Kansas City , Mo. , plant in November ... INTERSTATE BAKERIES HAS NEW CHAIRMAN New York investor Howard Berkowitz ... The company wasted no time taking advantage of the name value of its recently acquired brands, launching an aggressive marketing campaign in January 1996. The company distributes its products under a wide range of brand names, including Sunbeam, Dolly Madison, Wonder, and Hostess. Schultze Special Purpose Acquisition Corp. II-Chairman of Board, 2021 Tropicana Entertainment Litigation Trust Subcommittee, July 2009 . Interstate Bakeries Corp. produces, distributes and markets fresh bakery products in the US. 1201 15th Street NW, 8th Floor Washington, DC 20005, https://finca.org/board-member/robert-w-hatch/. Shortly after this purchase, the president of Merita, Charles A. Sullivan, moved over to take command of IBC, becoming president and CEO. In December of that year, Interstate bought Nolde Brothers, Inc., for $500,000. learn how over 7,000 companies got started! Its products are distributed throughout Ohio and in parts of New York, Pennsylvania, and West Virginia. Dreiling also is a director of Lowe's Companies, Inc., a FORTUNE® 50 home improvement company, and Chairman of the Retail Industry Leaders Association (RILA). Interstate Bakeries Corp., the nation's largest wholesale baker with its 57 plants and 33,000 workers, said deliveries of breads and sweet cakes would continue uninterrupted while it reorganizes . It owns several bakeries in the United States that produce snack cakes under the Hostess and Dolly Madison brand names. tenure. Its predecessor, Interstate Bakeries, once was a $3 billion company but carried heavy debt and wage and pension obligations and filed for bankruptcy twice, first in 2004 and again in 2012 . Most recently, Mr. Bewkes was a director of Paine Webber Group, Inc. and chairman of numerous Paine Webber Mutual Funds, as well as a Director of Interstate Bakeries Corporation. The company's regional strengths were in the Midwest, the West, and upstate New York. degree in Economics from Harvard University and an M.B.A. from INSEAD in France, where he graduated with Distinction and was the recipient of the . Although Interstate earned a $50 million tax break from the collapse of the computer outfit, ultimately, the bakery operations were left with a heavy financial burden to bear. from Dartmouth College and an M.B.A. from the Amos Tuck School of Business, Dartmouth College. The company, best known for its Drake's, Wonder, and Hostess brands, added that the investigation appears to concern matters related to the company's manner for setting its reserves, especially . Found inside – Page 1427He has been with the Interstate Brands Corp. since 1947, serving in various positions including chairman of the board, president, and chief executive ... This is a digitized version of an article from The Times’s print archive, before the start of online publication in 1996. The company then looked to focus all of its attention on baking, as well as on improvements in two areas: plant efficiency and market penetration. The investment markets were not kind; on October 30 Interstate stock plunged 25 percent in just two hours, after attaining a year-long high of $34.375 only three weeks earlier. 2. Interstate Bakeries Corp., the nation's largest wholesale baker with its 57 plants and 33,000 workers, said deliveries of breads and sweet cakes would continue uninterrupted while it reorganizes . Found inside – Page 605Interstate Bakeries Corporation 605 Interstate Bakeries Corporation Golin ... Chief Executive Officer Rich Jernstedt Executive Vice President David Nixon . Interstate Bakeries Corporation is one of the nation's largest commercial bakers and distributors of freshbaked bread and sweet goods, sold under various brand names, including Wonder®, Merita®, Home Pride®, Baker's Inn®, Hostess®, Drake's®, and Dolly Madison®. He is a member of the executive committee and chairman of international affairs for the Anti-Defamation League of B'nai B'rith. Interstate sold its canning operation in 1974 and resumed acquisition of properties that fit in with its core line of business, baking. Gregory F. Rayburn (born 1958) is an American businessman.He formerly served as Chairman and CEO of Hostess Brands.. 2. Found inside – Page 454INTERSTATE BAKERIES CORP . , Kansas City , November 9 , 1949 . Hon . GUY M. GILLETTE , United States Senator , Chairman , Subcommittee on Utilization of ... Found inside – Page 181946 - January 28 , 1972 , then Vice Chairman of ... Interstate Brands Corporation ; Kroehler Mfg . Co .; Leasco Corporation ; Mutual Broadcasting ... Age : 62. He was chairman and chief executive officer of Pulte Homes, Inc. from 1974 to 1990. Charles Sullivan - Chairman of Interstate Bakeries Corporation (Retired) Chester Taylor - Ten-year NFL running back (Retired) Mildred Taylor - Newbery Medal recipient for Roll of Thunder, Hear My Cry. In addition, Interstate closed its Butter Cream Baking Company plant and its Schall Tasty Baking Company factory. Although sales of white bread had grown stagnant, as people became more health conscious, sales of variety breads, such as Interstate's Pritikin diet bread and Sun-Maid raisin bread, which carried a higher price tag and had a longer shelf life, had benefited from this trend. This division included seven bakeries, located in upstate New York, which produced bread, rolls, cakes, and doughnuts for distribution throughout the region. Chairman for Interstate Bakeries Corp., Non-Executive Chairman & Chief Executive Officer at Kraft Foods Group . Mr. Stiritz served as a Director of American Freightways Corp. Biography of John Cahill. . EX-3.2 from 10-K ~20 . Found inside – Page 30... director of safety for the Interstate Bakeries Corporation of Kansas City , Mo. Wirken , who is responsible for the safety of the company's 2,700 bakery ... A year later the company's stock was still stranded at $22.75, far below analysts' expectations of $30. In his past career he held the position of Non-Executive Chairman at Interstate Bakeries Corp., Chairman of Fifth Third Bank, NA (Cincinnati, Ohio) and Auditor for Arthur Young & Co. Michael J. Anderson received an undergraduate degree and an MBA from Kellogg School of Management. In 2001, he was named Chief Executive Officer of PBG and, in 2003, Chairman and CEO. Found inside – Page 158WILBUR MILLS , Chairman , Committee on Ways and Means , 0.8 . House of Representatives , Washington , D.C .: Interstate Bakeries Corp. strongly recommends ... Since then numerous news . Found inside – Page 257STATEMENT OF ERNEST B. HUETER , CHAIRMAN OF THE BOARD , INTERSTATE BRANDS CORP . , ACCOMPANIED BY DONALD GERISH , SECRETARY , AMERICAN BAKERS ASSOCIATION ... James Elsesser served as CEO of Interstate Bakeries and CFO of Ralston Purina. This sale was followed in 1998 by the removal of Weber's brand products from certain markets in southern California. Mr. Cahill joined PepsiCo in 1989 and held multiple senior financial and operating leadership positions there and at PBG. To effect the transformational changes required for their businesses, the Found inside – Page 146INTERSTATE BAKERIES CORP . , Kansas City , Mo. , March 14 , 1967 . Hon . WILBUR MILLS , Chairman , Committee on Ways and Means , U.S. House of ... Our focus is special situation investing in financially troubled and distressed credits. Previously, Mr. Cahill was Chairman of The Pepsi Bottling Group, Inc. (PBG). Found inside – Page 11Interstate Bakeries is the parent company of Interstate Brands Corp. ... The board of directors of Quality Bakers of America Cooperative Inc. has re ... Interstate Bakeries Corporation is the largest independent baker in the United States, producing breads and cakes in more than 60 bakeries across the country. Elin Suleymanov - Ambassador of the Republic of Azerbaijan to the United States. Since February 2009, Mr. Cahill has also served as Chairman of Interstate Bakeries Corp. Interstate Bakeries Corporation . All rights reserved. At the end of that year, the company's net sales reached $191 million, up from $124 million in 1959, through a period of steady growth. Two years later, the acquiring firm sold what was left of its computer operations to a group of former managers and changed the entire company's name to Interstate Bakeries Corporation. He serves as a Director of Agribrands International Inc. Interstate Bakeries Corp. announced that the Securities and Exchange Commission has upgraded its informal probe to a formal order of investigation. Interstate, which is based in Kansas City, Mo., said that Mr. Berkowitz's appointment was in keeping with its tradition of naming outside directors to the chairman's post. St. James Press, 2001. ''There's no controversy here,'' he said. The company quickly complied, agreeing to sell the Butternut Bakery in Chicago in January 1997. Interstate's next acquisition came at the end of 1943, when the company bought the Supreme Baking Company of Los Angeles, whose plant it had previously rented. WHAT CLIENTS ARE SAYING "Chris creates new options and direction that break companies out of entrenched situations." — Charles Sullivan, Retired Chairman & CEO, Interstate Bakeries Corp. "Chris played the pivotal support role to me in our clean exit from an incompatible distribution business." Projective drawing: Rater reliability and . As Continental's plants were located in parts of the country not yet tapped by Interstate, the company could look forward to becoming a greater national presence. See the article in its original context from. Mr. Berkowitz, 44 years old, is the head of HPB Associates, a limited partnership that is Interstate's largest shareholder, with a nearly 13 percent stake. Data Processing, which changed its name to DPF, Inc. in 1971, leased IBM computers to other businesses throughout the 1960s. With the contribution of the new Merita unit, and its own revitalized operations, IBC's sales grew strongly in the last years of the 1980s. About Old HB Inc. Old HB, Inc. produces and distributes bakery products. Interstate's growth through acquisitions remained steady throughout the 1950s. Mr. Thompson has served on the boards of many different companies including Commerce Bank of St. Louis, GR Group (U.S.), Illinova Corporation, Interstate Bakeries Corporation, McDonnell Douglas Corporation, Midwest Stamping Company, Ralston Purina Company and Ryerson Tull, Inc. ROBERT P. CANTRELL, Louisi-ana Polytechnic Institute. In 1960, the company strengthened its standing in the Midwest when it acquired Cobb's Sunlit Bakery, of Green Bay, Wisconsin. company. Source: International Directory of Company Histories, Vol. Found inside – Page 122Interstate Bakeries Corporation and Kirk Rammage Teamsters Local Union No. ... 2008 DECISION AND ORDER BY CHAIRMAN SCHAUMBER AND MEMBER LIEBMAN On October ... Principal Subsidiaries: Interstate Brands Corporation; Mrs. Cubbison's Food, Inc.; IBC Trucking Corporation. . Found inside – Page 66What I thought was particularly interesting , Mr. Chairman , about the treatment ... VICE PRESIDENT AND GENERAL COUNSEL , INTERSTATE BRANDS CORP . Mr. Hatch holds a B.A. During this time the company also introduced a number of new products, including fat-free Wonder and Butternut breads and Hostess Lights. As part of this program, Interstate announced in 1976 that it would undertake the construction of a new $5 million bakery in Montana. In 1975, DPF decided that Interstate Brands would be a good business to buy. The company had become the third largest wholesale baker in America. Found inside – Page 7581989 president and Chief Executive Officer , Interstate Brands Corporation and Interstate Bakeries Corporation . 1991 Chairman . 1995 relinquished office of ... John T. Cahill is a businessperson who has been the head of 5 different companies is on the board of American Airlines, Inc. and 4 . Stewart Sandwiches sold frozen and refrigerated products, such as roast beef and turkey sandwiches. IT IS HEREBY AGREED by and between Interstate Bakeries Corporation, by its duly authorized officers, and counsel for the Federal Trade Commission that: 1. In a brief telephone interview yesterday, Mr. Berkowitz said that Mr. Ayers had nominated him for the chairman's post, and that the transition was completely friendly. Retired Chairman & CEO . He worked to restructure the company and reduce expenses in a company that had been facing declining sales and high fixed costs. Mr. Seban was named vice-chairman of the company in May 2014 when he was succeeded by Mr. Toler. In the wake of this purchase, Interstate's headquarters were transferred to Hartsdale, New York. Hostess is now a public company again (since late 2016) and, as of its 2019 financial report, had sales of $908 million and a $78 million profit. Welcome. Schwebel Baking Company. Nafziger came from a family of bakers, and he produced wholesale bread loaves packaged in a distinctive country-gingham wrapper, which were resold in grocery stores. Wed Sep 22, 2004 NEW YORK, Sept 22 (Reuters) - Interstate Bakeries Corp. (IBC.N: Quote, Profile, Research) filed for bankruptcy on Wednesday after struggling with more than $1.3 billion in debt and weak demand for bread products amid the popularity of low-carbohydrate diets. The Continental purchase evoked a certain amount of apprehension, however, within the U.S. Justice Department. Chairman of Oaktree Capital Management: 1:30 - 2:45: Concurrent Panels: Case Study Panel:The Restructuring of Interstate Bakeries Corporation Legal Panel: Legal Frameworks for Cross-Border Restructurings: 3:00 - 3:45: Afternoon Keynote: Timothy Coleman, Senior Managing Director, Blackstone: 4:00 - 5:15: Concurrent Panels In early January 1995, the company announced an agreement to buy one of its primary competitors, the Continental Baking Company, for $330 million and 16.9 million shares of Interstate stock. Termination of the pension plan, Hinkle reported, has 'given us time to slow down a little bit and evaluate our product line.' Previously, Mr. Hatch served as Chairman, President and CEO of Interstate Bakeries Corporation, and worked for General Mills, Inc., rising to the position of Executive Vice President. 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