Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

OBITUARY: Born into riches, Edgar Bronfman grew into philanthropy
The Globe And Mail ^ | December 27 2013 | Joanna Slater

Posted on 01/13/2014 1:23:58 PM PST by imardmd1

The tale of the Bronfman family is one of Canada’s most legendary: how a poor Jewish
immigrant from what is now Moldova established a liquor empire based in Montreal
that grew to become one of the world’s best-known brands.

(snip)

Mr. Bronfman, who died on Dec. 21 at the age of 84 in New York, turned that complicated
patrimony into an unusual journey. At Seagram Co. Ltd., he led the company into new
businesses and into its most profitable investment, only to later champion the decisions
that led to the firm’s demise.

(snip)

He decided to retire at the age of 65 in 1994 and become co-chairman of the company.
Earlier, he had determined that his second son, Edgar Jr., rather than Samuel,
the eldest, would succeed him as chief executive. But fearing the conflict between
his sons, he blurted out his choice to a reporter for Fortune magazine -- before
discussing it with either his son Samuel or his board of directors. It was a "huge
mistake," he later wrote.

It was also a choice that would prove controversial. As chief executive, Edgar Bronfman Jr.,
known in the family as Efer, led Seagram into the entertainment business, purchasing
MCA and PolyGram. To pay for those investments, he sold Seagram’s 25-per-cent stake
in DuPont, which was delivering hundreds of millions of dollars a year in dividends
to Seagram’s bottom line. In 1998, Mr. Bronfman Sr. airily dismissed DuPont as
"boring" -- a point on which he and Efer agreed, he wrote.

(snip)

Mr. Bronfman died of natural causes related to his advanced age, according to a spokesman
for his charitable foundation.

(Excerpt) Read more at theglobeandmail.com ...


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; News/Current Events
KEYWORDS: bronfman; corporateraider; jewish; seagrams
Date of death was December 21st, but no notice was found here on Free Republic, so this is now posted, albeit a little tardy.

But . . . who of the general public is aware of the influence of this man? Not many, it seems.

A less complementary storybook account of Bronfman's activities is found here:

The ‘King of the Jews’ Is Dead

One FR article references Bronfman's support of teenager "gay" activists:

http://www.freerepublic.com/focus/f-news/1499463/posts

1 posted on 01/13/2014 1:23:58 PM PST by imardmd1
[ Post Reply | Private Reply | View Replies]

To: imardmd1

Bronf in Yiddish means whiskey.


2 posted on 01/13/2014 1:24:57 PM PST by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; me = independent conservative)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Jack Hydrazine

Bronf in Redneck means “I’m hurling”.


3 posted on 01/13/2014 1:27:58 PM PST by humblegunner
[ Post Reply | Private Reply | To 2 | View Replies]

To: Jack Hydrazine

If that’s true then Seagrams was whiskeyman’s destiny


4 posted on 01/13/2014 1:31:51 PM PST by Uncle Chip
[ Post Reply | Private Reply | To 2 | View Replies]

To: imardmd1

Which one was kidnapped, and maybe lost an ear in the ordeal?


5 posted on 01/13/2014 1:33:38 PM PST by Calvin Locke
[ Post Reply | Private Reply | To 1 | View Replies]

To: imardmd1

Well, he left behind one of the great buildings of NYC.


6 posted on 01/13/2014 1:43:55 PM PST by miss marmelstein (Richard Lives Yet!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: imardmd1

I do know, they were very close to owning DuPont.


7 posted on 01/13/2014 1:51:25 PM PST by Capt_Hank (btu's...kcal's...to kJ's, but my activation energy is still high.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: imardmd1

Interesting info.


8 posted on 01/13/2014 2:00:55 PM PST by FrdmLvr ("WE ARE ALL OSAMA, 0BAMA!" al-Qaeda terrorists who breached the American compound in Benghazi)
[ Post Reply | Private Reply | To 1 | View Replies]

To: miss marmelstein

Building as oppressive, intolerant, inhuman, functionalist ideology. The international style comes out of a played-out and discredited fad: the European reaction against the human person as the ultimate module.


9 posted on 01/13/2014 2:02:19 PM PST by Romulus
[ Post Reply | Private Reply | To 6 | View Replies]

To: imardmd1
Certain means of philanthropy can be good, like libraries, imo.
But the feel good kind just messes up those it was intended to help.
10 posted on 01/13/2014 2:12:10 PM PST by MaxMax (Pay Attention and you'll be pissed off too! FIRE BOEHNER, NOW!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Calvin Locke

There’s a little in the original article — I snipped it out for posting


11 posted on 01/13/2014 3:08:53 PM PST by imardmd1 (Fiat Lux)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Romulus

Ah, it’s a great building. Audrey Hepburn and George Peppard had lunch outside the building in “Breakfast at Tiffanys,” and I had many a dirty water hot dog seated on its wide plaza on my lunch hour. A NY classic and home to the Four Seasons.


12 posted on 01/13/2014 3:11:10 PM PST by miss marmelstein (Richard Lives Yet!)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Calvin Locke

You’re thinking of a Getty.


13 posted on 01/13/2014 3:26:14 PM PST by Lizavetta
[ Post Reply | Private Reply | To 5 | View Replies]

To: imardmd1

RIP.


14 posted on 01/13/2014 3:43:58 PM PST by fieldmarshaldj (Resist We Much)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Capt_Hank
They did essentially own Dupont. I was there as a senior scientist, and watched them come in in 1982, gut the company, then get out a little over a decade later.

There was a lot of their influence exercised to get Dupont to integrate backward into oil (for plastics and solvents), and buy out their ownership of Conoco Oil. Dupont traded shares for all of Conoco stock, so the Bronfmans wound up with 24% of The Dupont Company's voting stock, which was enough for complete control.

Dupont was supposed to have bought out Conoco. Actually, Conoco bought out Dupont, IMHO.

In the end, they forced the company to buy back its own stock massively into the treasury, elevating stock street value. Then they issued notes to Dupont as loans for the company to buy back about $2 billion of the Bronfmans' stock at the elevated price, and thus the Bs were out awash with cash owed to them by the company.

One of the nasty little deals was to force the retirement fund to buy a $500 million block of their stock. (Usually, one expects a retirement fund to diversify away from the stock of the parent company.)

I think they did this kind of thing with a lot of other companies. Those whose wealth was based on the wreckage of people's lives through the booze industry could not have had much care as to how their machinations affected the lives and loyalty of Dupont employees.

15 posted on 01/13/2014 4:10:07 PM PST by imardmd1 (Fiat Lux)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Lizavetta
You’re thinking of a Getty.

About the ear, most likely.

From Wikipedia:

Samuel Bronfman – On Aug. 9, 1975, Samuel (who was 21 at the time) was abducted from a family estate in suburban New York...

The only reason I remember something about it was a HS classmate got accepted to Williams shortly afterward, and mentioned it at the time.

16 posted on 01/13/2014 4:10:59 PM PST by Calvin Locke
[ Post Reply | Private Reply | To 13 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson