Howard A. Newman

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Howard A. Newman (born February 2, 1921 in Cedarhurst, New York ; died on April 12, 2006 in Wellington, Florida ) was an American investment and railroad manager .

Life

Howard A. Newman was born to Wall Street investor Jerome Newman and Estelle Reiss Newman. Jerome Newman founded the Graham-Newman Corporation investment company with Benjamin Graham . He studied agricultural science at Cornell University from 1938 and received a degree in economics in 1942 . He then served as a naval officer on the USS LST-558 in the Pacific War during World War II .

After the end of the war, he founded an import-export company before joining his father's company.

There he worked with Warren Buffett , with whom he later became a lifelong friend.

After Graham-Newman took over the Philadelphia and Reading Corporation in 1955 , he became president of that company. Under his leadership, the conglomerate was expanded further. In addition to the already existing textile production ( United Underwear , Fruit of the Loom ), the manufacture of boats, optical instruments and other products was taken over. On the other hand, the uneconomical holdings in the coal industry ( Reading Anthracite ) were sold.

In 1968 he merged Philadelphia and Reading with Northwest Industries and became Chairman of the Board . In 1970 he left the company and became Chairman of the Board of the Western Pacific Railroad , as President he appointed Alfred E. Perlman (previously Penn Central Transportation ). He founded the holding company Western Pacific Industries and used the available capital again for acquisitions in other branches of the economy in order to achieve a diversified, highly profitable company. Until the sale of Western Pacific Industries to the Danaher Corporation in 1986, he led the company as Chairman and CEO.

He then worked as an investment banker until his death. He supported the Jewish Guild for the Blind , whose supervisory board chairman he was from 1967 to 1971; He also donated a professorship at Cornell University and a scholarship.

Howard A. Newman suffered from Parkinson's . He was married four times and had five children.

Web links

Individual evidence

  1. ^ The Evening Courier, Tamaqua PA, December 30, 1955
  2. ↑ Paid Notice: Deaths NEWMAN, HOWARD A. In: The New York Times . April 16, 2006, ISSN  0362-4331 ( nytimes.com [accessed May 25, 2018]).
personal data
SURNAME Newman, Howard A.
BRIEF DESCRIPTION American investment and railroad manager
DATE OF BIRTH February 2, 1921
PLACE OF BIRTH Cedarhurst (New York)
DATE OF DEATH April 12, 2006
Place of death Wellington (Florida)