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retained a 28 percent controlling interest. In 1994, Smith re-evaluated the portfolio of theaters and sold 14 theaters for $ 14 million and closed an additional 37 theaters in 1994 and 12 in 1995. They also cautiously expanded into megaplexes with sit-down cafes, seat-side service, "loveseats," gourmet food and coffee, and liquor; and associated with top brands such as
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In 1952, Smith married Susan Flax who was Jewish. They had four children: James Smith (who died in 1970), Amy Smith
Berylson, Robert Smith, and Debra Smith Knez. His daughter is married to Brian Knez. His son, Robert Smith and son-in-law Brian Knez, were co-CEOs of Harcourt General until its sale
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for $ 1.5 billion. In 1993, the company split into two companies: Harcourt
General consisted of the publishing business and the controlling interest in the retail group (then called the Neiman-Marcus Group); and GC Companies, Inc. consisted of the movie theater division in which the Smith family
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Smith diversified and expanded the company through acquisitions. In the late 1960s, General Cinema began purchasing bottling franchises eventually becoming the largest independent bottler in the United States. In 1970, they purchased the
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He and his wife founded the
Richard and Susan Smith Family Foundation. Since 1973, the foundation has donated $ 45.6 million to Boston's Jewish community of which $ 24 million was given to Combined Jewish Philanthropies of Boston (CJP).
462:"Because of our Jewish heritage," Smith said in a letter to his descendants, "we expect Combined Jewish Philanthropies, or another appropriate Jewish philanthropic vehicle, to be a permanent core part of the Foundation's giving."
165:, and several bowling alleys in order to diversify their revenues which were under pressure as more people stayed home to watch television. In 1960, the company changed its name to General Drive-In Corp and went public on the
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Fortune: "The New Show at Neiman-Marcus - A little-known empire of movie houses and soft drink bottlers, General Cinema, is buying up control of the country's most glamorous retailer." by John Paul
Newport
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Los
Angeles Times: "General Cinema More Wall St. Than Hollywood : Investments Pay Off Handsomely for Bottler and Theater-Chain Operator" by Kathryn Harris
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although Smith retained a controlling interest. His father died in 1961 and
Richard succeeded him as CEO. Smith changed the company's name to
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in the U.S. In 1946, he joined his father's company. In 1947, the company was one of the first to open a theater in a shopping mall in
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Boston
College Law School Magazine: "The Canny Investor - When Brian Knez Sees Opportunity, Companies Thrive" by Maura King Scully"
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Boston Globe: "Susan Smith, 83; philanthropist’s passion transformed cancer care" By Bryan
Marquard
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forcing it to find a friendly suitor earning Smith a substantial profit when he sold his shares.
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133:(November 1, 1924 – September 9, 2020) was an American businessman who was CEO of
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in 1964 to better reflect the shift in the industry away from drive-in theaters.
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for $ 5.1 billion (the Smith family earned $ 600 million from their interest).
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for $ 5.7 billion and in 2005, they sold Neiman Marcus to private equity firms
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then co-founded private equity shop
Castanea Partners in 2001. His nephew is
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Harvard
Business School Lehman Collection "GC Computer Corporation"
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Tufts University: "Profiles in Giving - Debra Smith Knez, J82"
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In 1984, General Cinema purchased a controlling interest in
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In 2000, General Cinema sold Harcourt General to publisher
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474:Legacy.com: "SUSAN M. (FLAX) SMITH"
145:Smith was born in 1924 the son of
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553:American people of Jewish descent
543:Businesspeople from New York City
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528:American business executives
488:retrieved September 25, 2017
418:retrieved September 24, 2017
401:retrieved September 26, 2017
362:retrieved September 25, 2017
65:Chestnut Hill, Massachusetts
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446:"Tribute to Richard Smith"
135:General Cinema Corporation
86:General Cinema Corporation
238:Harcourt Brace Jovanovich
155:Framingham, Massachusetts
163:Amy Joe's Pancake Houses
548:Smith family (theaters)
167:New York Stock Exchange
151:drive-in movie theaters
296:Philadelphia Eagles
159:Richard's Drive-Ins
48:New York City, U.S.
510:Richard Alan Smith
452:. October 13, 2020
210:Carter Hawley Hale
181:chain (founded by
161:restaurant chain,
131:Richard Alan Smith
35:Richard Alan Smith
187:Loews Corporation
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276:Philanthropy
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255:Pizzeria Uno
230:Holt Renfrew
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199:greenmailing
195:Robert Tisch
189:(founded by
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147:Philip Smith
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112:Philip Smith
59:(2020-09-09)
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538:2020 deaths
533:1924 births
500:Winter 2015
456:February 2,
76:Businessman
522:Categories
305:References
226:Thalhimers
95:Susan Flax
73:Occupation
41:1924-11-01
251:Taco Bell
243:Starbucks
141:Biography
118:Relatives
183:Ted Mann
124:(nephew)
100:Children
84:CEO of
253:, and
228:, and
108:Parent
92:Spouse
67:, U.S.
247:Pepsi
458:2021
268:and
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54:Died
31:Born
322:Jr.
266:TPG
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