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Dec 7, 1998 · He was the first investment banker to realize that chain stores would one day dominate retailing, and he got rich by underwriting (and often controlling) such future powerhouses as S.S. Kresge...
- Joseph Nocera
He orchestrated the 1926 merger which created the Safeway food chain, and Merrill Lynch provided investment banking services to Safeway to finance the acquisition of other chains, growing Safeway to more than 3,500 stores across the United States by 1931.
May 17, 2019 · Merrill started in the textile company in 1907 at an entry-level management position. His office was in Lower Manhattan. The newly engaged young man lived in the nearby Chelsea neighborhood....
In the 1930s, Charles E. Merrill temporarily left Merrill Lynch to help manage Safeway. In the late 1930s, the New Negro Alliance boycotted the Sanitary Grocery Company (then a Safeway subsidiary) to pressure store owners to employ black people, especially in predominantly black neighborhoods.
After working on Wall Street for several years, Merrill started his own firm in January 1914. Several months later, he was joined by his friend, Edmund Lynch. As he became a specialist in underwriting public offerings for supermarket and department store chains, Merrill considered applying their merchandising methods to his financial products.
Era: 1940. Merrill created the main street brokerage by founding the Merrill-Lynch Company. He was the first investment banker to realize that chain stores would one day dominate retailing and handled underwriting for at least 25 retail stores (such as S.S. Kresge – now K-Mart and Safeway Stores).
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Jan 13, 2009 · Early in 1929, Charles Merrill managed to assemble yet another large grocery chain centered on the West Coast. By merging chains owned by Ross McIntyre of Portland and Charles Marr of Spokane, Merrill was able to create a corporate entity that rivaled Safeway to some extent.
