Babson College - Babsonian Yearbook (Wellesley, MA)

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I in in HAIUIER EXIHl Babson ' s third Annual Career Expo, once again, of- fered undergraduate and graduate students the opportu- nity to talk with people from various careers, ranging from an account executive to a quality engineer. These career representatives were willing to discuss any aspect of their jobs and offer advice to interested students. Ms. Young and the Career Expo Executive Commit- tee started organizing the event in September. Executive Committee members included Lyle Howland, Barry Goldmund, Ed Pierce, Janet Kalustian, and Andre Ev- ans. The number of career representatives increased this year as there were approximately fifty representatives present. Thirty-eight of the fifty are Babson Alumni and many of the others had donated their time last year and requested to come back. Ms. Young cited, It was a very productive day. Per- haps there could have been more student attendance but the reps seemed very pleased with the 450 students who did attend. They felt their time was well spent. 122

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Thomas Evans has acquired a reputation as a financial genius and corporate entrepreneur as chairman of the Crane Company. With stalces in steel, copper, oil and gas, coal, and cement, among other things. Crane ' s initial plumbing business now represents less than five percent of the company ' s operations. Evan ' s strategy has been to buy into companies in the extractive industries where assets are reported well below their worth, to assume control, and eventually build a substantial profit. Although only distantly related to the Mellon family, Evans started his career with Gulf Oil Corporation, a Mellon holding, following his graduation from Yale in 1931. At Gulf, he borrowed some Gulf shares at a low interest rate, and within a few years made a small return on his investment. His next move was to buy the defaulted bonds of the H. K. Porter Company, manufacturer of locomotives. By World War II he had become the major stockholder and was turning the business around through diversification. In 1955 the company was selling $80 million worth of rubber products, electrical and steel materials, and Evans was ready for new acquisitions. The first was the Crane Company, an old-line plumbing manufacturer. Within four years he gained control and began an equity tie-in between Crane and Porter. Evans maintains Crane ' s New York headquarters as the base of his operations, and ha; made over eighty acquisitions to date. Crane ' s sales since 1972 have risen by over forty percent to over $1.2 billion. The company has manufacturing plants in six countries, employing 19,800 people. Porter ' s sales have remained stable at around $300 million. In recent years Evans has spread into areas outside the industrial field. He holds a majority interest in a St. Louis based television station, Evans Co. and a brokerage house. He also owns a Virginia horse-breeding farm. Sport is not the object, however, as with Evans there is one main concern. We call it the bottom line, he says. Come meet, hear, and question these five outstanding entrepreneurs: Thoiniis Vi. E ' ans Chairman Crane Company President and Publisher Johnson Publishing Co., Inc. 121 WBBI

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CARCCB EXPOSITIO 1979 4 123 H ujiai is ss 1