By the mid-1990s the damage done by the floundering furniture business was readily apparent. Richard Alexander Manoogian, 86 - Mackinac Island, MI - Reputation He was elected chairman and chief executive director in 1964 and took over leadership of the company in 1968 when he was named president and chief executive officer. children: three. Later that year, the Dearborn plant is closed, and production of the automotive components is moved to Ypsilanti, Michigan. During the 1980s, the Company expands its presence into the cabinet, appliance spa and furniture manufacturing business. Originally known as the The company was the first to market faucets directly The Tap's Back On - Housing, Autos Return Masco to Habit of Higher Net [Electronic version]. 1937 becomes the only year in the history of the Company that Masco loses money through operations. Masco - Wikipedia With a Crains Detroit Subscription you get exclusive access, insights and experiences to help you succeed in business. Richard Dennis Manoogian Obituary. In addition to the furniture fiasco, there was trouble in the industrial Finally, the furniture and home furnishings market was struggling in a down economy, and sales were sagging. Lookup the home address and phone 3134475841 and other contact details for this person. Emory Moran Ford-deceased H. Richard Fruehauf III-lives out of state. Louise Manoogian Simone and Richard Manoogian, and Manoogian family members. Manoogian also funded numerous Armenian churches, cultural centers, university chairs for Armenian studies and museums worldwide. Raymond F. Kennedy is appointed President and Chief Operating Officer. Additionally, Kichler support helped fund the crucial position of NEOCHs LGBTQ and Youth engagement specialist, who was able to assist 21 people in becoming permanently housed and assist 39 people in, In November, Delta Faucet Company was pleased to be the presenting sponsor of the 2023 National Housing Market Outlook event, hosted by HomeAid America and Zonda. As he works, he becomes consumed with the idea of bringing the rest of his family to the U.S. Alex learns that while the U.S. immigration laws are strict for Eastern European immigrants, an alternative route to the U.S. through Windsor, Canada, offers considerably more promise. Alfred J. Fisher Jr.-deceased Walter Briggs Fisher-Moving/moved out of state. U.S.A. A third member of the Masco family, TriMas, is established as a separate public entity in 1988. Alex has come full circle. Grant Information Last Updated: Richard Sparks. Alex Manoogian, at the age of 19, immigrates to America. They were first interred in Detroit, Michigan. Other family members and associates include Jane Manoogian, Richard Manoogian and Macdonald Goodwin. Denmark, Germany, Holland, Italy, Spain, and the United Kingdom. through 1980s. [3] The Berry Historic Subdivision Historic District has the former homes of several prominent Detroit residents, including John and Frederic Ford, Arthur Clamage, and John Kay of Wright-Kay Jewelers. There are three full baths, a servants' bath and two half-baths. Their daughter Louise Manoogian Simone (1933-2019) succeeded him as President of AGBU (see below). Their son Richard A. Manoogian (b. Once it becomes apparent the new faucet is going to make it on its own, Alex transfers the licensing rights to Masco at no cost. In 2001, Masco Corp., or simply Masco, entered the windows business and had operating profits beyond a billion dollars. Just before the holidays, a fire nearly destroys the Company. George Manoogian Obituary (1954 - 2019) - North Conway, NH - Portland He places the rights to the new faucet under the Delta Detroit Corporation, a very small family-owned business manufacturing products to support the war effort. Unknown to him or the firemen around him, a heavy load of snow on the roof melted and greatly reduced the damage. Richard A. Manoogian - Reference For Business Family Data. He was ranked as high as number five on the Forbes 400 list of richest manufacturers. Manoogian married Marie Tatian (19021993), also an Armenian immigrant. Shareholders were angry about Masco enters the bath and shower enclosures industry. elected chairman and chief executive director in 1964 and took over Telephone: 3132748799 In the 1950s Masco revolutionized the faucet industry by perfecting the design of the single-lever hot and cold faucet. The Jolly Flatboatmen - National Gallery of Art Total sales for the company in 2009 were 7.8 billion. higher education and Macomb and Oakland counties. In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. This page was last edited on 29 December 2022, at 13:51. 1936) was CEO of the family business Masco and is a major collector of American art. The following people are believed to be the relatives of Richard A Manoogian: . In addition to donations to local universities, the Manoogians donated substantial amounts of money to churches, educational institutions and charities of the Armenian Diaspora to preserve and continue their culture. even more displeased about the diversification attempts. By 1936, Masco is operating at full capacity and needs additional funding for machinery and human resources to continue to increase sales and earnings. Heir and former President of Masco Corporation, a fortune 500 auto parts company, lives here. Alex died on July 10, 1996, the same year that his son Richard passed on his COO role to Ray Kennedy, allowing him to assume the position of chief executive officer. The strategy was to reinvest surplus earnings and create to mass market consumers via television advertisements. Given this title in 1985, Richards continued guidance further distinguishes Masco as a market leader. Strive for excellence. Fax: (616) 9235486 Web site: http://www.barry-callebaut.com Renamed Mascon Toy Company after its purchase in 1962, the company is one of the leading manufacturers of toy telephones. Richard A Manoogian was born in 1929, to Arthur Manoogian and Lulu Jane Manoogian (born Wixson). Rossant, Juliette, "Throwing in the Towel," These combined efforts were successful in stabilizing the company's bottom line and restoring profitability. This goal was met primarily through mergers and Housing. . Richard G. Manoogian, MBA, MST Managing Director, Chief Compliance Officer. That same year, Alex marries Marie Tatian. The sale of Masco Tech was completed in 2000. Jerry Cavanagh and his family became the first mayoral family to occupy the mansion. Other companies added to the division were Lexington Home Brands, Hickorycraft, Marge Carson, La Barge and Marbro in 1987, and fabric company Robert Allen/Ametex in 1988. Within the next year, both of Alexs brothers join the Company. Member of the Board of Bank One (1978-2004) Masco Screw Products Company produced machined automotive parts for the Detroit automotive companies. Address: Masco Corporation, 21001 Van Born Road, Taylor, Michigan 48180; http://www.masco.com. Quiet wealth in Metro Detroit? 9-figure families still left? The company later expanded operations into the building and home Read about the state of democracy and meet Michigans new legislature. Manoogian separated the building products thousand paintings was valued at more than $250 million, making it one of In 1996, Alex Manoogian passes away at the age of 95. As his dreams go up in smoke, Alex weeps. The primary business was manufacturing machined automotive parts. Richard had 4 siblings: Armond Manoogian and 3 other siblings. The success was due in part to Masco's innovation in marketing and product distribution. #346 Richard Alexander Manoogian Net Worth: $1.0 billion Source: Manufacturing, Masco Inherited and growing Age: 69 Marital Status: Married, 3 children Hometown: Grosse Pointe Farms, MI Education: Yale University, Bachelor of Arts / Science Armenian immigrant father, Alex, founded Detroit auto parts business Masco in 1929. Alex and Marie Manoogian - One truly remarkable marriage being done translated into decreasing demand for Masco's products. I was born and grew up in the Detroit area, so its been an important community asset to me., Explore Manoogian's connections through his one-of-a-kind spider graph. Family: Son of Alex Manoogian (founder, Masco Corporation); married; children: three. 02/11/2022. Photos & Social Media. Between 1997 and 2002, Richard Manoogian, who succeeded his father as chief executive, acquired 42 companies valued at a total of $10 billion. Because Masco was a 50 In 1969, Masco is listed on the New York Stock Exchange. Construction and Home Improvement Company, Cabinetry: *Sold to ACProducts (renamed Cabinetworks Group) in 2020. Once one of the huddled masses yearning to be free, Alex is now, 58 years later, the Guest of Honor and Principal Speaker. Masco acquired more than one hundred companies in the 1960s Join the Detroit Regional Chamber to build a stronger business, connect with prospective clients and resources, reduce the cost of doing business and be a part of a community of influencers. The plants Dearborn location strengthens Mascos roots in metro-Detroit. Masco Tech's poor performance contributed to the mounting losses. These combined efforts were successful in In 1967, the company moved its corporate headquarters to Taylor, Michigan. Masco receives its first contract with the auto industry. [11], In 2003, Masco's annual sales topped ten billion dollars and Masco increased its quarterly dividend for the 47th consecutive year. To accommodate increased sales, Masco decides to build a new faucet plant in Greensburg, Indiana, in 1958. Masco Screw Products Company, Masco had been founded by Richard's TriMas and Masco Tech merged to form one company offering a wide array of products. Alex was the oldest of the five children in the Manoogian household. This goal was met primarily through mergers and acquisitions. Therefore, that information is unavailable for most Encyclopedia.com content. View the profiles of people named Richard Manoogian. Richard A. Manoogian holds a B.A. markets. Through the AGBU, the Manoogians funded schools for ethnic Armenians in Southfield, Michigan; Los Angeles, California; Buenos Aires, Argentina; Sydney, Australia; Beirut, Lebanon; Zahle, Lebanon; Egypt; Tehran, Iran; Montreal, Quebec; Toronto, Ontario; and Montevideo, Uruguay (all are named for the Manoogian family). Service. In 1985, Masco purchased the remaining outstanding stock of Flint & Walling, Inc (after purchasing 30% in 1971 and controlling interest in 1978). shareholders. Share on Twitter Retrieved October 17, 2008, from ABI/INFORM Global database. mass production of furniture components. working with his father to increase the company's value from $55 Major criticisms were that Manoogian was running Masco as a private family [3], As of 2007, Masco employed approximately 32,500 employees and has approximately 6,000 shareholders. stabilizing the company's bottom line and restoring profitability. Ticke, Loctite Corp 1001 Trout Brook Crossing With a strategy to acquire well-run companies with high margins and established leadership positions, more than 25 companies join Masco during this time period, several of which include international companies, expanding Mascos global footprint. Mr. Manoogian is a Director of Ford Motor Company, Business Leaders for Michigan (formerly Detroit Renaissance), Invest . Although formally installed as President and Chairman of the Board, Alex, out of necessity, is also the manager, estimator, foreman press operator and machinist/repairman. Upon Americas entry into World War II, Masco quickly converts its focus to the manufacturing of material and products needed to support the war effort. Associates described Manoogian as straightforward and talkative, the kind cultural organizations, primarily through the Masco Corporation Manoogian Mansion - Wikipedia By 1936, in the midst of the Great Depression, Manoogian had expanded Masco to the point that it was listed on the New York Stock Exchange (NYSE). industry by perfecting the design of the single-lever hot and cold faucet. As of this date, Richard is married. . I joined (DIA) originally as a civic activity to help and be involved in the community, and being subsequently exposed to art, I started to become a personal collector as well, he said. Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. To mitigate the impact of deteriorating economic conditions and increased regulations, over the next few years Masco reduces its number of operating units from 67 businesses to 29 through consolidations and divestitures. Rossant, Juliette, "Throwing in the Towel," Forbes, February 26, 1996, p. 14. Compensation from Masco averaged $11.3M annually from 1998-2003, according to Forbes. The Pu, http://www.forbes.com/global/2002/1209/028.html, https://www.encyclopedia.com/economics/news-wires-white-papers-and-books/manoogian-richard-1936. Admitting that the shareholders' criticism was fair, Manoogian turned his attention to debt reduction, share buyback, and a different acquisition strategy. Share on Linked In Their son Richard A. Manoogian (b. Member of the Board of Masco (1964-, as Chairman, 1985-) initiated severe cost-cutting measures and reduced his own salary from In 2004, Masco has 62,000 employees and 120 manufacturing facilities, and serves international markets from 18 countries. entry on Masco Corporation in By moving to Detroit in 1924, Alex accomplishes two goals: providing his family with easier access to the U.S. and working in the burgeoning auto industry where he can earn the wages necessary to bring them to Detroit. The international operations were located primarily in Belgium, Denmark, Germany, Holland, Italy, Spain, and the United Kingdom. Remains of Alex and Marie Manoogian arrive in Etchmiadzin He was elected chairman and chief executive director in 1964 and took over leadership of the company in 1968 when he was named president and chief executive officer. Romero, Gina, "Art Imitates Masco," Forbes, October 24, 1988, p. 398. "Manoogian, Richard A. The Forbes 400: Manufacturers [Electronic version]. Major criticisms were that Manoogian was running Masco as a private family business although stock was publicly held . Name: Richard A Manoogian, Phone number: (906) 847-0102, State: MI, City: Grosse Point Park, Zip Code: 48230 and more information. One year later, Masco began manufacturing cabinets. LifeStyle, the third largest furniture maker in the United States with $2 billion in sales, had sold Universal Furniture to Lacquer Craft. Submit a correction or make a comment about this profile, Community Foundation for Southeast Michigan, Friends of Senator D'Amato 1998 Committee, Submit a correction or make a comment about this profile. Publicly Available Info. Public Company His collection of more than one Mr. Manoogian is a Director of Ford Motor Company, Business Leaders for Michigan(formerly Detroit Renaissance), Invest Detroit and Yale University Art Gallery. In 1969, Masco Corporation was listed on the New York Stock Exchange - See more at: In 1954, he patented and brought to market the first successful washerless ball valve faucet -- the Delta faucet -- named for the faucet cam shaped like the fourth letter of the Greek alphabet - See more at: "Alex and Marie Manoogian Interred in Holy Etchmiadzin", Mother See of Holy Etchmiadzin Information Services, 17 July 2007, "Alex Manoogian, 95; Perfected Design of Single-Handled Faucet", https://en.wikipedia.org/w/index.php?title=Alex_Manoogian&oldid=1149370273, Emigrants from the Ottoman Empire to the United States, Presidents of the Armenian General Benevolent Union, Short description is different from Wikidata, Articles containing Armenian-language text, Creative Commons Attribution-ShareAlike License 3.0, Businessman, entrepreneur, industrial engineer. Alan H. Barry is named President and Chief Operating Officer. In addition, Mr. Manoogian is a memberof the Yale Alumni Association, The American Federation of Arts, American Associationof Museums and Museum Trustee Association. In time, he was joined by his parents, two brothers and two sisters. It has approximately 4,000 square feet (370m2). "Masco's Manoogian retires as executive chairman", "Masco's Board of Directors Elects Keith J. Allman to Succeed Timothy Wadhams as President and CEO", "Masco Corporation Relocates Global Headquarters to Livonia, Michigan", "Sale of Kichler Lighting completed; purchase price is $550 million", "Cabinetworks formed after ACProducts completes Masco purchase", "Hot Tub Leader Watkins Manufacturing Corporation Acquires Aquatic Fitness Innovator Endless Pools, Inc", "MI Windows and Doors completes acquisition of Milgard Windows & Doors", https://en.wikipedia.org/w/index.php?title=Masco&oldid=1130295082, Companies listed on the New York Stock Exchange, Manufacturing companies based in Michigan, Companies based in Wayne County, Michigan, Manufacturing companies established in 1929, Articles with dead external links from January 2022, Short description is different from Wikidata, Articles with unsourced statements from January 2012, Creative Commons Attribution-ShareAlike License 3.0, Milgard Windows & Doors SOLD to Mi Windows and Doors 2019. several furniture makers proved ill-advised. Hugo Scherer Higbie-deceased/two of his children live in Grosse Pointe. Hands On Network Corporate Service Council Henry Ford Museum Trustee John McCain 2008 Kerry Victory 2004 Museum Trustee Association Pete Wilson for President Committee Republican National Committee Romney for President Santorum 2000 US National Gallery of Art Trustee US State Department Fine Arts Committee Yale University Art Gallery Trustee Armenian Ancestry In 1942, Masco's sales exceeded $1,000,000 dollars.[3]. Richard Manoogian is named Mascos President and Chief Operating Officer. The faucet is named Delta in recognition of the family business and the delta-shaped cam assembly used in the faucet. The company is manufacturing a new type of fauceta single-handle variety. The company name, Masco, is an acronym from the first letters of the partners last names, appended by a co for company. Masco re-enters war production during the Korean conflict, using the Companys metalworking expertise to manufacture fuses and develop a new artillery shell timing mechanism. manufacturing facilities were located throughout the United States and [3], In 1982 Masco's earnings did not grow for the first time in 26 years. The mansion was built in 1928 at the cost of $300,000 ($4.73 million in 2022). He also brings with him unbounded enthusiasm and an extraordinarily formal education for the time. Doing the right thing and supporting communities where our employees live and work is a long part of Behrs history and we believe, Kichler Supports Regional Coalition for the Homeless, Delta Faucet Company Serves as Presenting Sponsor of HomeAid Event, Behr Canada Team Completes Nonprofit Painting Tour for 75th Anniversary. After gaining more experience, in 1929 he founded the Masco Screw Company, later known as Masco Corporation. https://www.encyclopedia.com/economics/news-wires-white-papers-and-books/manoogian-richard-1936, "Manoogian, Richard A. Shareholders were angry about diversification attempts and Manoogian's investment in noncore competencies such as home furnishings. 1985. (510) 271-7000 Richard A. Manoogian - NNDB Timothy Wadhams is named President and Chief Executive Officer. Public Company ." In 1975, Masco Corporation joins the Fortune 500 list of largest U.S. corporations. Under Manoogian's leadership, Masco was a substantial contributor to educational, civil, and cultural organizations, primarily through the Masco Corporation Foundation. Masco VP (1964-68) Reingold, Jennifer, "The Masco Fiasco," Later in the year, Richard is called to serve in the Michigan Air National Guard. Delta Faucets annual sales exceed $1 million and Alexs son, Richard Manoogian, joins the Company. Richard G Manoogian, Seekonk Public Records Instantly Web site: http://www.masco.com . 21001 Van Born Road [3] In 1954, he patented and brought to market the first successful washerless ball valve faucet, the Delta faucet, named for the faucet cam shaped like the fourth letter of the Greek alphabet.[4]. Between 1997 and 2002, Richard Manoogian, who succeeded his father as chief executive, acquired 42 companies valued at a total of $10 billion. Richard & Jane Manoogian Foundation | Foundation Directory | Candid He donated generously to Wayne State University in Detroit.[5]. Manoogian remains involved in a number of foundations, commissions and other boards and said his commitments can leave him spread pretty fine. But he has learned to pick causes where he can be of most help and is prepared for a serious commitment, since many projects prove more time-consuming than they seem.

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