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David N. Judelson papers on Gulf and Western Industries

Call Number

MS 3081

Date

1957-1992 (bulk 1960s-1983), inclusive

Creator

Judelson, David N., 1928-2018

Extent

18 Linear feet in 18 record cartons.

Language of Materials

The documents in the collection are in English.

Abstract

The collection includes records of David N. (Jim) Judelson compiled during his tenure in senior leadership positions at Gulf and Western Industries from the late 1950s to his resignation in 1983. Records include Gulf + Western Board and shareholder meeting materials, financial reports, policy manuals, and other documents, primarily from the 1970s to 1983. Documents more specifically related to Judelson's company connections include his correspondence files, speeches and interviews, securities transaction records, and various subject matters, including the company's 1980 initiative to develop a zinc chloride battery to power electric vehicles.

Biographical / Historical

David N. (Jim) Judelson (1928-2018) was born in Hackensack, NJ. He graduated from New York University in 1949 with a degree in Mechanical Engineering and worked as Chief Engineer and then in executive capacities for Judelson Industries in Randolph, NJ through the 1950s. In 1956, Judelson bought some shares of stock in a small auto parts company, the Michigan Bumper Company. Coincidentally, an Austrian-born entrepreneur, Charles Bluhdorn (1926-1983), bought what became a controlling amount of shares in the same company. In 1958, Bluhdorn asked John Duncan (1928-2020) and, shortly after, Judelson to join the company in order to expand the organization through acquisitions, with Judelson focused on manufacturing firms. After an initial acquisition of the Michigan Plating & Stamping Co., the conglomerate eventually took the name Gulf and Western Industries in the 1960s and grew spectacularly, even attracting the attention of a congressional antitrust investigation in 1969.

In 1968, after Duncan was promoted, Judelson became President and Chief Operating Officer of G+W, as well as a member of the Board and Executive Committee. Through the 1970s, the company continued its aggressive growth through mergers and acquisitions. Beginning in the mid-1960s, the company had also diversified beyond its manufacturing and extraction origins into new industries, notably entertainment with the acquisition of, for example, Paramount Pictures in 1966. Later, in 1977, Madison Square Garden and its sports teams were added. In 1980, G+W announced an initiative to manufacture an electric vehicle, powered by a zinc chloride battery, though that eventually faltered.

In 1979, the Securities and Exchange Commission (SEC) charged G+W, Bluhdorn, and another senior executive with fraud. The matter was finally settled in 1981. In 1983, Bluhdorn died suddenly of a heart attack. Perceiving that he did not have sufficient support from the Board for the position, Judelson did not put his name forward as a candidate for the Chief Executive Officer (CEO) position, despite being considered by some to be the "heir apparent" to Bluhdorn. The position went instead to Martin S. Davis, who had come through the ranks from Paramount Pictures and had held various senior administrative positions at G+W. (The Board also passed over Judelson's contemporary, John Duncan, who was also still in a leadership role at G+W.) Judelson then resigned from G+W, moving on to other ventures. Judelson died in 2018. Martin Davis began divesting G+W of its broad array of industries, focusing on entertainment and eventually dropping the Gulf and Western name in favor of Paramount Communications. The company was bought by Viacom in 1994 and is now part of that conglomerate.

(The above note was based on various on-line sources, especially New York Times articles, obituaries, and Wikipedia, and Judelson's resignation statement in the collection.)

Arrangement

The overall arrangement is roughly by subject matter. With minor adjustment, the contents remain in the order they were held in storage by Judelson and later delivered to N-YHS. Original folder lists are found in certain of the boxes: in box 1 covering the contents of box 1 and 2; and in boxes 3-8 for the contents of each of those boxes.

Scope and Contents

The collection includes documents compiled by David N. (Jim) Judelson during his career at Gulf + Western, primarily from the 1960s until his resignation in early 1983. These records include those concerning Gulf + Western (G+W) operations generally and those concerning Judelson's personal connections with G+W.

Records related to company operations include Board of Director meeting materials (1974-83), shareholder meeting materials (1968-81), charts of organization structure (1982), a history of company acquisitions from 1957-80, and some financial data, annual reports, business plans, policy manuals, and other company information, mainly from the late 1970s-1982. Subject files maintained by Judelson touch on various topics, notably the company's initiative in 1980 to develop a zinc chloride battery as a suitable energy source for an electric vehicle. There are also topical files on the SEC investigation of G+W from 1977-81, the sale of Consolidated Cigar during the company's divestitures in 1982, and other matters.

Judelson's records include his correspondence files (1968-83); appointment books (1969-83); speeches and other statements by Judelson (1967-82); G+W's various executive compensation plans, including stock options, and Judelson's participation in the plans; and records of Judelson's personal securities transactions in G+W and other companies' stock. There are also several files concerning the close of Judelson's tenure at G+W in 1983, including his resignation letter, his lengthy statement to the Board surveying his G+W career, letters of support to Judelson, and more.

Access Restrictions

Open to qualified researchers. Materials are stored offsite and advance notice is required for use. Please contact manuscripts@nyhistory.org prior to your research visit to coordinate access. Keep in mind that it will take between two (2) and five (5) business days for collections to arrive, and you should plan your research accordingly.

Use Restrictions

Taking images of documents from the library collections for reference purposes by using hand-held cameras and in accordance with the library's photography guidelines is encouraged. As an alternative, patrons may request up to 20 images per day from staff. Application to use images from this collection for publication should be made in writing to: Department of Rights and Reproductions, The New-York Historical Society, 170 Central Park West, New York, NY 10024-5194, rightsandrepro@nyhistory.org. Phone: (212) 873-3400 ext. 282.

Copyrights and other proprietary rights may subsist in individuals and entities other than the New-York Historical Society, in which case the patron is responsible for securing permission from those parties. For fuller information about rights and reproductions from N-YHS visit: https://www.nyhistory.org/about/rights-reproductions

Preferred Citation

The collection should be cited as: David N. Judelson papers on Gulf and Western Industries, MS 3081, New-York Historical Society.

Location of Materials

Materials are stored offsite and advance notice is required for use. Please contact manuscripts@nyhistory.org prior to your research visit to coordinate access. Keep in mind that it will take between two (2) and five (5) business days for collections to arrive, and you should plan your research accordingly.

Immediate Source of Acquisition

Gift of David N. Judelson, 2015.

Collection processed by

Larry Weimer

About this Guide

This finding aid was produced using ArchivesSpace on 2023-08-21 15:48:04 -0400.
Using Describing Archives: A Content Standard
Language: Finding aid written in English

Processing Information

The collection was processed by archivist Larry Weimer in October 2021. The collection was processed to only a minimal degree and remains in the original folders and, with minor exceptions to facilitate access, in the original order as stored by Judelson and as received at N-YHS in 2015.

Repository

New-York Historical Society
New-York Historical Society
170 Central Park West
New York, NY 10024