Glen Alden Corporation

Glen Alden Corporation
Item# 5170pu

Tracing its history from the original Glen Alden Coal Company and the Rapid American Corporation, the Glen Alden Corporation was built through a succession of acquisitions spearheaded by mogul Meshulam Riklis. Over time, Riklis added the following companies to the Glen Alden stable... McCrory Stores, Leeds Travelware, Gruen Watch Company, Elizabeth Arden cosmetics, Aunt Nellie's Farm Kitchens, Bargain Time, Beatrice Foods, Canadian retailer Dylex, Culligan International, Fabergé Cosmetics, J. J. Newberry stores, Lerner Shops, Lawry's Meat Specialties, Martha White Foods, Odd Lot Trading, International Playtex, the Riviera hotel and casino in Las Vegas, RKO-Stanley Warner Theatres, Samsonite, Schenley Industries, and the one-time American distributor of Dewar's whisky.

Riklis was credited with originating complicated paper schemes like junk bonds and leveraged buyouts to take over control of major companies, then doing paper switches of the assets into companies he owned. Many of the corporations declared bankruptcy, again carefully maneuvered by Riklis to preserve his personal wealth. He famously sold his stake in the Carnival Cruise Line to Ted Arison for $1.

Close Up of Vignette:

Certificate: Subordinated Debenture Bond, issued in the 1970’s

Printer: American Bank Note Company

Dimensions: 8” (h) x 12” (w)

State: DE-Delaware

Subject Matter: Holding Companies | Scandals and Collapses | Under $10

Vignette Topic(s): Allegorical Featured

Condition: Vertical fold lines, punch hole cancels in the signature areas and body, and toning and edge faults from age.

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