Vernon B. Stouffer, (22 August 1901-26 July 1974) owned a national chain of restaurants, motor inns, and food-service operations and the Cleveland Indians from 1966-72. Events 392 - Arbogast has Eugenius elected Western Roman Emperor. Year 1901 ( MCMI) was a Common year starting on Tuesday (link will display calendar of the Gregorian calendar (or a Common year starting Events 657 - Battle of Siffin. 811 - Battle of Pliska; Byzantine Emperor Nicephorus Year 1974 ( MCMLXXIV) was a Common year starting on Tuesday (link will display full calendar of the 1974 Gregorian calendar. The Cleveland Indians are a professional baseball team based in Cleveland, Ohio, United States. He played a key part in developing frozen foods and microwavable foods. His company Stouffer's was valued at $21. Stouffer's is a brand of frozen prepared foods available in the United States and Canada. 5 million when it was merged with Litton Industries in a stock for stock trade in 1967. Named after inventor Charles Litton Sr, Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation [1]
In stark contrast to his food business, his tenure as Indians' owner was not successful. He first got involved as an investor in the team in 1964 when it appeared that the team might move to Seattle, hopeful that he could help keep the team in Cleveland. In 1966 he bought 80 percent of the team for $8M, borrowing $2. 5M. He retained Gabe Paul as president and hired Hank Peters to run the minor league farm system. Gabriel Howard Paul ( January 4 1910 — April 26 1998) was an American executive in Major League Baseball who served as Henry J "Hank" Peters is a former baseball executive He began his career in the scouting department of the St Stouffer's deep pockets became depleted when Litton's stock lost over half of its value in early 1968 and Stouffer had trouble paying back the note due to the Indians' poor on field performance and accompanying low attendance. Stouffer was forced to cut the team's player development budget severely, which hampered the team's performance for years to come, over Peters' and Paul's objections. In 1968 Stouffer made what turned out to be another poor decision, vesting field manager Alvin Dark with the additional duties of general manager, which turned out to be an unworkable situation. Alvin Ralph Dark (born January 7 1922 in Comanche Oklahoma) nicknamed "Blackie" and "The Swamp Fox" is a former Shortstop and manager By 1970 the Indians were still losing money and were attracting attention from other cities seeking teams, including Dallas and New Orleans. Stouffer negotiated a deal to sell twenty-five percent of the team to New Orleans' investors for $2. 5M and to have the Indians play 30 home games per year in the Superdome starting in 1974, however, the American League rejected the arrangement. The American League of Professional Baseball Clubs, or simply the American League ( AL) is one of two leagues that make up Major League Baseball in In 1971 Stouffer rejected an offer of $8. 6M for the team from a group headed by George Steinbrenner, believing it to be a lowball offer since New Orleans' previous offer was greater, percentage-wise. George Michael Steinbrenner III (born July 4, 1930 in Rocky River Ohio) is an American Billionaire businessman and the principal Stouffer sold the team in 1972 to a group headed by Nick Mileti for $10M. Nick Mileti (born 1931 was during the 1970s the owner of the Cleveland Indians, Cleveland Cavaliers, Cleveland Crusaders hockey team the Coliseum [2]
Stouffer married Gertrude Dean in 1928 and had 3 children, Marjorie, Deanette, and James.
References
External links
- Encyclopedia of Cleveland History retrieved December 15, 2007
- "He Changed How America Ate", Wharton Alumni Magazine retrieved December 15, 2007
See also
| Preceded by William Daley | Owner of the Cleveland Indians 1966 — 1972 | Succeeded by Nick Mileti |
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