Vernon Stouffer
Encyclopedia
Vernon B. Stouffer, owned a national chain of restaurants, motor inns, and food-service operations and the Cleveland Indians
from 1966-72. He played a key part in developing frozen foods and microwavable foods. His company Stouffer's
was valued at $21.5 million when it was merged with Litton Industries
in a stock for stock trade in 1967. Vernon Stouffer pioneered the frozen food industry.
Stouffer was also the owner of the baseball team, the Cleveland Indians. He first got involved as an investor in the team that was not doing so well in 1964 when it appeared that the team might move to Seattle, hopeful that he could help keep the team in Cleveland. In 1966 he bought 80 percent of the team for $8M, borrowing $2.5M. He retained Gabe Paul
as president and hired Hank Peters
to run the minor league farm system. Stouffer's deep pockets became depleted when Litton's stock lost over half of its value in early 1968 and Stouffer had trouble paying back the note due to the Indians' poor on field performance and accompanying low attendance. Stouffer was forced to cut the team's player development budget severely, which hampered the team's performance for years to come, over Peters' and Paul's objections. In 1968 Stouffer made what turned out to be another poor decision, vesting field manager Alvin Dark
with the additional duties of general manager, which turned out to be an unworkable situation. By 1970 the Indians were still losing money and were attracting attention from other cities seeking teams, including Dallas and New Orleans. Stouffer negotiated a deal to sell twenty-five percent of the team to New Orleans' investors for $2.5M and to have the Indians play 30 home games per year in the Superdome
starting in 1974, however, the American League
rejected the arrangement. In 1971 Stouffer rejected an offer of $8.6M for the team from a group headed by George Steinbrenner
, believing it to be a lowball offer since New Orleans' previous offer was greater, percentage-wise. Stouffer sold the team in 1972 to a group headed by Nick Mileti
for $10M.
Stouffer married Gertrude Dean in 1928 and had three children, Marjorie, Deanette, and James. He is buried in Lakewood Park Cemetery in Rocky River, Ohio.
Cleveland Indians
The Cleveland Indians are a professional baseball team based in Cleveland, Ohio. They are in the Central Division of Major League Baseball's American League. Since , they have played in Progressive Field. The team's spring training facility is in Goodyear, Arizona...
from 1966-72. He played a key part in developing frozen foods and microwavable foods. His company Stouffer's
Stouffer's
Stouffer's is a brand of frozen prepared foods available in the United States and Canada. Stouffer's is known for such popular fare as meatloaf, salisbury steak, lasagna, macaroni and cheese, and ravioli. It also produces a line of reduced-fat products under the banner Lean...
was valued at $21.5 million when it was merged with Litton Industries
Litton Industries
Named after inventor Charles Litton, Sr., Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation in 2001.-History:...
in a stock for stock trade in 1967. Vernon Stouffer pioneered the frozen food industry.
Stouffer was also the owner of the baseball team, the Cleveland Indians. He first got involved as an investor in the team that was not doing so well in 1964 when it appeared that the team might move to Seattle, hopeful that he could help keep the team in Cleveland. In 1966 he bought 80 percent of the team for $8M, borrowing $2.5M. He retained Gabe Paul
Gabe Paul
Gabriel Howard Paul was an American executive in Major League Baseball who served as general manager of three teams and, perhaps most famously, as president of the New York Yankees under George Steinbrenner during the 1970s....
as president and hired Hank Peters
Hank Peters
Henry J. "Hank" Peters is an American former baseball executive. He began his career in the scouting department of the St. Louis Browns and their successors, the Baltimore Orioles, in the mid-1950s...
to run the minor league farm system. Stouffer's deep pockets became depleted when Litton's stock lost over half of its value in early 1968 and Stouffer had trouble paying back the note due to the Indians' poor on field performance and accompanying low attendance. Stouffer was forced to cut the team's player development budget severely, which hampered the team's performance for years to come, over Peters' and Paul's objections. In 1968 Stouffer made what turned out to be another poor decision, vesting field manager Alvin Dark
Alvin Dark
Alvin Ralph Dark , nicknamed "Blackie" and "The Swamp Fox", is a former shortstop and manager in Major League Baseball who played for five National League teams from 1946 to 1960. Named the major leagues' Rookie of the Year with the Boston Braves when he batted .322...
with the additional duties of general manager, which turned out to be an unworkable situation. By 1970 the Indians were still losing money and were attracting attention from other cities seeking teams, including Dallas and New Orleans. Stouffer negotiated a deal to sell twenty-five percent of the team to New Orleans' investors for $2.5M and to have the Indians play 30 home games per year in the Superdome
Louisiana Superdome
The Mercedes-Benz Superdome, previously known as the Louisiana Superdome and colloquially known as the Superdome, is a sports and exhibition arena located in the Central Business District of New Orleans, Louisiana, USA...
starting in 1974, however, the American League
American League
The American League of Professional Baseball Clubs, or simply the American League , is one of two leagues that make up Major League Baseball in the United States and Canada. It developed from the Western League, a minor league based in the Great Lakes states, which eventually aspired to major...
rejected the arrangement. In 1971 Stouffer rejected an offer of $8.6M for the team from a group headed by George Steinbrenner
George Steinbrenner
George Michael Steinbrenner III was an American businessman who was the principal owner and managing partner of Major League Baseball's New York Yankees. During Steinbrenner's 37-year ownership from 1973 to his death in July 2010, the longest in club history, the Yankees earned seven World Series...
, believing it to be a lowball offer since New Orleans' previous offer was greater, percentage-wise. Stouffer sold the team in 1972 to a group headed by Nick Mileti
Nick Mileti
Nick James Mileti was, during the 1970s, the owner of the Cleveland Indians, Cleveland Cavaliers, Cleveland Crusaders hockey team, the Coliseum at Richfield and radio station "3WE" WWWE AM/1100 ....
for $10M.
Stouffer married Gertrude Dean in 1928 and had three children, Marjorie, Deanette, and James. He is buried in Lakewood Park Cemetery in Rocky River, Ohio.
External links
- Encyclopedia of Cleveland History retrieved December 15, 2007
- "He Changed How America Ate", Wharton Alumni Magazine retrieved December 15, 2007
See also
- Cleveland Indians managers and ownership