America's Corner Store

JOHN U. BACON has written on a wide variety of subjects for Time magazine, Fortune magazine, and the New York Times, among other publications, earning several national honors for his work. A former feature writer for the Detroit News, he has also authored Blue Ice: The Story of Michigan Hockey, ghost-written several business bestsellers, and currently hosts a weekly radio show. He lives in Ann Arbor, Michigan.

• Preface ixAcknowledgments xiii1 From Humble Beginnings 1The Apple and the Tree 1Sweet Home Chicago 7The State of the Profession 14Walgreen Does Chicago 22To Live and Almost Die in Cuba 25Walgreen Returns 27The Most Important Merger 30Diving In—Together 372 The Start of Something Special: 1910–1929 43On His Own 43The Secrets of the Second Store 44I Scream, You Scream 47The Hot Lunch Program 48Cultivating Leaders 50Growing Like Topsy 52The Pepper Pod 55Steppin’ Out 59Chicago in the Roaring Twenties 61On the Lighter Side 65Fundamental Values 69Putting Out Fires 71The Walgreen Creed 74The Knight Report 75“Absolute Dominance” 82If They Can Make It Here 83Read All about It 86Chain Fight 88The Good Life 923 Nothing to Fear: 1929–1945 95Facing Fear Itself 95Better Days Are Coming 96Helping the Mom-and-Pop Shops 101Walgreens’ Own: From Coffee to Corn Remover 105Getting the Word Out 109Damn the Depression, Full Speed Ahead! 111Finding Time for Fun 117The Son Also Rises 119The Accidental Benefactor 122Charles’s Demise 126Defusing a Palace Coup 129There’s a War On 134Where Everyone Meets 1374 The Postwar Era: 1945–1970 139The Power Era 139Mergers and Acquisitions 141All Power to the Pharmacist 144Partners in Health 145Battling the Bargain Stores 149The Self-Service Revolution 151The Shopping Center Is Born 159The Four-Way Test 161Chuck’s Legacy 1635 Reinventing the Corporation: 1970–1990 167State of the Company 168Looking for a Few Good Men 171Walgreen’s Wingman 174The Turn-Around Team 177Killing Off Their Little Darlings 182The Systems behind the Smiles 187Walgreens Goes High-Tech 189Vindication 1916 Poised to Pounce: 1990–Future 193“This Is Dan Jorndt, How May I Help You?” 193Plain and Proud of It: The Anti-Enron 197Getting the Right People Ready 207A Good Corner Is a Good Corner 211Passing the Torch 215Hello, My Name Is Dave 217Constant Competition 220Walgreens’ Advantages 223The Future Is Now 224Appendix AWalgreens Financial Facts 227Appendix BHistoric Highlights 229Notes 233Index 249