Category Archives: Business & Finance

Jews in the World of Business and Finance

Jew of the Week: Seymour Schulich

Mr. Schulich

Seymour Schulich (b. 1940) A science and engineering major from Montreal, he made most of his fortune in the oil and mining industries, primarily by inventing a new system of royalty payments. Schulich is often considered Canada’s top investor, as well as Canada’s greatest philanthropist. He recently donated $100 million to fund scholarships for university students through the United Jewish Appeal. This is in addition to $250 million he has already donated over the course of his life to various schools, hospitals and charities. It is therefore not surprising that he is the namesake for many institutions, including York’s Schulich School of Business, Western’s Schulich School of Medicine, Calgary’s Schulich School of Engineering, Dalhousie’s Schulich School of Law, McGill’s Schulich School of Music, Sunnybrook’s Schulich Heart Centre, and Technion’s Schulich Faculty of Chemistry. He has received the Order of Canada.

Words of the Week

Most men worry about their own bellies and other people’s souls, when we all ought to be worried about our own souls and other people’s bellies.
– Rabbi Israel Salanter

Jew of the Week: Estée Lauder

Beauty Queen, Business Genius

Estee Lauder

Estée Mentzer (1908-2004) was born in Queens to Hungarian-Jewish immigrants. She took an early interest in her chemist uncle’s nascent beauty products business. Soon after high school, she began selling some of his concoctions and found success. After marrying Joseph Lauder, the two opened their own cosmetics company and Esther quickly became famous for her ingenious marketing strategies. In 1953 she created a new fragrance – “Youth Dew” – which sold 50,000 bottles that year. By 1984, it sold 150 million. No wonder she was the only woman named to TIME’s list of 20th century business geniuses. She also won the Presidential Medal of Freedom. Her son Ronald Lauder is a fervent activist for Israel and Jewish causes worldwide. In 2007, he was elected president of the World Jewish Congress. For these reasons, Estée Lauder is frequently the focus of anti-Israel boycott groups. Little to these groups know that Estée Lauder encompasses 27 brands including Clinique, Aveda and MAC. Words of wisdom from Esther: “I have never worked a day in my life without selling. If I believe in something, I sell it, and I sell hard.” She wasn’t just talking about beauty products.

Words of the Week

King David said, “Seek peace and pursue it.” (Psalms 34:15) This means: Seek peace for your friends, and pursue it among your enemies; seek peace where you dwell, and pursue it in all other places; seek peace with your body and pursue it with your all your resources; seek peace for yourself and pursue it for others; seek peace today, and pursue it for tomorrow.
– Sefer Ma’alot HaMiddot

Jews of the Week: Rosenbergs, Baskin and Robbins

Dunkin Donuts & Baskin Robbins

Will Rosenberg – Mr. Dunkin’ Donuts

William Rosenberg (1916-2002) was born to a Jewish family in Boston. Because of the Great Depression, Rosenberg dropped out of school in eighth grade to work. After World War II, he invented the now-famous stainless steel “canteen trucks” seen on construction sites, and started a food delivery business with just $2500. Realizing that most of his sales were in coffee and donuts, Rosenberg opened Dunkin’ Donuts in 1950. At the time, only four flavours of donuts were available. Rosenberg created 52! He became one of the pioneers of franchising, founding the International Franchise Association in 1960. Today, Dunkin’ Donuts has over 9,700 franchises in 37 countries.

Baskin & Robbins

In the 1960s, his son Robert Rosenberg acquired Baskin Robbins. This company was originally started by Canadian Jew Irvine Robbins (1917-2008), who used his bar mitzvah money after coming back from World War II. It was a merger of his ice cream shop with his brother-in-law’s Burt Baskin (1913-1967), a member of Zeta Beta Tau, America’s first Jewish fraternity. Some consider Baskin Robbins the first-ever food franchise. Today, it has nearly 6,000 locations worldwide.

 

Words of the Week

Money is the cause of good things to a good man, of evil things to a bad man.
– Philo Judaeus