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PAPER BOY $$$: Carl A. Gerstacker's Story, and Other Routes to Riches

How About Casino Magnate Sheldon Adelson's Rags to Riches Tale?

December 10, 2013       Leave a Comment
By: Dave Rogers

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Midland icon Carl Gerstacker is subject of Ned Brandt book by MSU Press.
 

This might be entitled "A Tale of Two Paperboys."

Writer Madison DuPaix asks: "Is your child looking for a job to help earn money for the extras above and beyond what he can get for an allowance? A paper route is one of the most common tried and true ways to earn money, and has been the first job for many kids over the decades."

Some newspapers continue to employ youngsters to deliver newspapers but in the modern age, most kids prefer to watch MTV, play video games or talk on their cell phones rather than the daily routine of delivering papers.

Many newspapers have adult delivery persons with vehicles, a more practical solution especially when the paper must reach the home by 2 a.m. or thereabouts.

Midland's Ned Brandt, the Dow Chemical Company historian, in a book published ten years ago by Michigan State University Press, tells one of the most interesting Horatio Alger stories about a newspaper boy:

"Carl A. Gerstacker was born in 1916 in Cleveland, Ohio. At an early age his father, Rollin, instilled in him an interest in finance and the stock market. In 1930, when Carl turned fourteen, Rollin advised his son to withdraw his paper-route and odd-job money from a local bank and invest it all in The Dow Chemical Company."

Brandt's book "Chairman of the Board: A Biography of Carl A. Gerstacker," recounts how Gerstacker rose from paperboy investor to the seat at the head of the boardroom conference table in Midland, Michigan.

"It was the beginning of a relationship that would last a lifetime. After high school, Carl landed an hourly position with Dow Chemical as a lab assistant and, at the same time, pursued an engineering degree at the University of Michigan as part of the company's student training course.

"After graduating in 1938, Gerstacker continued to work for Dow Chemical until the outbreak of World War II when he joined the U.S. Army. Returning to civilian life in 1946, he was rehired by Dow and quickly moved up the corporate ladder, becoming Treasurer in 1949, Vice-President in 1955, and Chairman of the Board in 1960, a position he retained until 1976. He retired five years later in 1981."

Amy Lamare tells another incredible paperboy story about the infamous Sheldon Adelson, who spent hundreds of millions of dollars in politics in the last Presidential campaign.

"Sheldon Adelson might be the best example of the American Dream you'll ever hear about. He grew up in a poor neighborhood in Boston, the son of an immigrant taxi driver. As a child, Adelson worked as a paperboy to help support his struggling family. After dropping out of college, he earned minimum wage as a court reporter before joining the army.

"Today, Sheldon Adelson is the majority owner of the world's largest casino company, the Las Vegas Sands corp. His personal net worth is $35 billion. That makes him the 14th richest person in the world and by far the richest person in Las Vegas and Nevada, overall."

Lamare relates how and why Adelson got into politics:

"Formerly a Democrat, Adelson became a Republican as his wealth grew. Specifically, he was annoyed with the higher tax rates he had to pay and the influence of the trade unions, which he frequently clashed with and who are a big part of the Las Vegas casino workforce.

"He backed George W. Bush's second presidential bid, Newt Gingrich and Mitt Romney, by contributing tens of millions of dollars to their campaigns, including a $20 million gift to Romney's super PAC. Adelson also donates generously to charitable organizations, giving millions to various causes especially those that support Israeli and Jewish charity."

Adelson's American dream became a nightmare for his political opponents although indubitably he generously helps the worthy causes he advances as well.

We have written previously about how Gerstacker anonymously started the Barley McTavish Fund to provide small grants to needy families in Midland at Christmas. But in reading Mr. Brandt's book, the story of the Dow executive's generosity and foresight is much broader.

When the I-75 freeway was built in the 1960s it "wound through the poorest and most rundown area of the town (Midland)," wrote Brandt. Gerstacker and Herbert Dow II, who sometimes were at odds on issues, collaborated. Each headed foundations that distributed wealth to non-profits and together they began the Midland Area Community Foundation.

The philanthropists enlisted others in buying up unsightly properties and developing a greenbelt. "Eventually, some ten years later, that project was completed and the city had a parkland type of entry all the way from the expressway to the downtown area, a distance of some four miles," recalled Brandt.

Before his death in 1995, Gerstacker helped raise funds for the United Way, Junior Achievement, the Tridge, a railtrail from Midland to Clare and other causes. Why did he do this?

"Midland was a terrible place to live when Herbert Dow came to town," Gerstacker said. "It was a leftover lumbering town, dying on its feet, and Main Street was mainly drinking places. He wanted to bring the best people for his company and the only way he could get them to come her and stay was if this was a good place to live."

It's not fair to compare Carl Gerstacker to Sheldon Adelson. Let's just repeat the now time worn cliché, "what happens in Vegas stays in Vegas."

And what happened in Midland as a result of Carl Gerstacker and his paper route and his vision for a city -- and his accomplishments -- should be shouted from the rooftops.

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Dave Rogers

Dave Rogers is a former editorial writer for the Bay City Times and a widely read,
respected journalist/writer in and around Bay City.
(Contact Dave Via Email at carraroe@aol.com)

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