1954

100 Highland Avenue Seekonk, MA 02771

This may be a sparse month for news, but at least the news is all good. The February issue of Discount Merchandiser magazine, the bible of the retail discount industry, featured a cover story on Sheldon Woolf. The front cover carried a fullpage picture of the class of '54's hardware tycoon. The cover picture made him look more like a movie star than a hard-nosed, resilient retail executive, which Shelly has been for his whole business life. To quote liberally from the article, "After graduating from Dartmouth and a two year stint with the U.S. Army Ordance in Germany . . . Woolf returned to his native Rhode Island. At that time, 1956, the discount industry was just getting its start . . . ." "My father-in-law just happened to be one of the industry's first pioneers. One day when the store manager didn't show up and I had nothing in particular to do, I was asked if I could hold the fort . . . soon I was travelling and opening up some of the first leased hardgoods department and discount stores around the country." In 1960 Shelly and his brotherin-law started their own company, National Hardgoods Distributors, which by 1975 was the nation's biggest operator of leased hardware departments and discount stores. To quote Shelly, "there were 82 of them as far west as Texas. At about the same time I recognized we had to change. Leased departments were being taken over by discount chains themselves. What followed next was what 1 like to describe as a positive period growing out of a negative one. We had to phase out our $35-million, 82-store business, and come up with a new concept to make it succeed." The new concept that Shelly developed and which NHD currently operates, is the free-standing discount hardware store. Rising like a phoenix from its previous life, NHD has grown to 26 discount hardware stores in New England doing about $35-million. Shelly is quoted as saying that his business plan is to double the chain in four years. The distinctive concept at NHD "is convenience convenience of store location, convenience of a deep merchandise assortment with an especially convenient format aimed at the woman shopper. The strategy is working to the point that now about 50 percent of NHD shoppers are women up from an initial 35 percent." The story of Shelly and his company, NHD, has been the subject of other articles because of the successful turnaround that Shelly has engineered as president of NHD. It is great to see Shelly getting this recognition by his peers. Who knows, he might even bring back "Woolfy's Whites."

Tom Kelsey was kind enough to send a super picture of a distinguished looking group of insurance executives and their stunning wives photographed at the annual convention of the National Association of Casualty & Surety Agents and Executives at the Greenbrier. What is outstanding about this picture other than the obvious attractiveness of all the members of the group, is that all of the men are senior executives of insurance companies, all of national importance in the industry, and all, of course, are members of the class of '54. Included in the group are Tom Kelsey (executive vice president - Chubb Corporation) and Liz; Don DesCombes (president - Averbeck ComPany) and Betty; Bob Clements (president Marsh & McLennan) and Marilyn; Dick Page (chairman - Fred S. James & Company) and Jane. What an extraordinary situation to find a group of men in such significant positions and all from one class at one college. Thanks for the letter and the picture, Kels.

Don Berlin is marshalling his usual cast of thousands on behalf of the annual Alumni Fund. Those of you who have worked for Don before know what a merciless taskmaster he is. I appeal to all to give early and generously so that the regional and assistant class agents are saved from the furor of Chief Agent Berlin. As you all know, the class Alumni Fund effort is dedicated to Dave and Judy McLaughlin, so there is even more of a reason than usual for giving. Don has done an outstanding job in the past couple of years leading the class to higher levels of particpation and giving, and a great deal of that job as been accomplished through his own hard work as well as through his example of leadership. Let's all give him, and Dartmouth, a boost and give NOW!

A group of '54s and their wives gathered at theannual convention of the National Associationof Casualty & Surety Agents and Executives.From left to right are Tom Kelsey and Liz, DonDesCombes and Betty, Bob Clements and Marilyn, and Dick Page and Jane.