Francis Levien Explained

Francis Levien
Other Names:Francis S. Levien
Birth Place:New York City, United States
Death Place:New York City, United States
Alma Mater:Columbia University (BA, LLB)
Occupation:Lawyer, industrialist
Employer:Gulf and Western
Known For:Namesake of Levien Gymnasium

Francis S. Levien (1905 – June 15, 1995) was an American lawyer and industrialist specialized in the creation of conglomerates. He was a director of Gulf and Western Industries.[1]

Biography

Born in 1905, Levien graduated from Columbia College in 1926 and Columbia Law School in 1928.[2] He began a law practice named Levien, Singer & Neuberger and made a small fortune during the 1930s, when he and his partner, Herbert M. Singer, won a case in Delaware, resulting in the formation of PepsiCo.[3] [4] [5] He was also a shareholder of the company.[6] [7]

He also formed a partnership with the New England paper merchant Harry E. Gould and turned a marginal steelmaker, the Steel Materials Corporation, into a thriving money-maker from World War II military contracts.[8] [9]

In 1950, Levien bought a defunct steel mill in Ohio and put it back in operation as the Ohio River Steel Company. In 1951, Levien and Gould traded their stake in the steel company for control of a printing-ink business, Universal Laboratories. They changed the name of the holding company into Universal American Corporation, which acquired companies such as Bohn Aluminum and Brass, Van Norman and Paul Hardeman before merging into Gulf and Western Industries.[10] Levien subsequently became a director of Gulf and Western until his retirement in 1985.[11] He was also a director of several companies, including Kansas City Southern Industries and 20th Century Fox.[12] [13]

In 1962, he donated $1 million towards building a new gymnasium at Columbia University that was named in his honor.[14]

Personal life

Levien married Janice L. Currick in 1936 at the Savoy-Plaza Hotel.[15] He died on June 15 at Mount Sinai Hospital and was survived by his wife, a daughter, Lorna Lubash, and two grandchildren.

References

  1. News: Saxon. Wolfgang. 1995-06-15. Francis Levien, 90, Industrialist Known For Conglomerates. en-US. The New York Times. 2021-09-18. 0362-4331.
  2. Web site: Facilities. 2021-09-18. Columbia University Athletics. en.
  3. Ying. Jennifer. 2009. Guth v. Loft: The Story of Pepsi-Cola and the Corporate Opportunity Doctrine. SSRN Electronic Journal. 10.2139/ssrn.1414478. 107061882. 1556-5068.
  4. News: Nemy. Enid. 1996-10-08. Herbert M. Singer, 89, Dies; Lawyer and Philanthropist. en-US. The New York Times. 2021-09-18. 0362-4331.
  5. Web site: Loft, Inc. v. Guth, 23 Del. Ch. 138 (1938) Legal Calculators. 2021-09-18. calculators.law.
  6. Book: New York Supreme Court. en.
  7. Book: Inc, Nielsen Business Media. Billboard. 1954-10-30. Nielsen Business Media, Inc.. en.
  8. News: 1971-03-10. HARRY E. GOULD; STRICKEN AT FIGHT. en-US. The New York Times. 2021-09-18. 0362-4331.
  9. Book: National Geographic. July 1976. National Geographic Society. en.
  10. News: Reckert. Clare M.. 1967-10-11. GULF & WESTERN TO TRY NEW FIELD; Will Buy Block of Universal American Merger Ahead COMPANIES PLAN MERGER ACTIONS. en-US. The New York Times. 2021-09-19. 0362-4331.
  11. Book: Judiciary, United States Congress House Committee on the. Hearings. 1970. en.
  12. Web site: Altman v. Deramus, 342 F. Supp. 72 (S.D.N.Y. 1972). 2021-09-19. Justia Law. en.
  13. Web site: August 4, 1962. Zanuck Is New Prexy At 20th Century Fox. September 18, 2021. World Radio History.
  14. Web site: University Record 12 December 1974 — Columbia Record. 2021-09-19. curecordarchive.library.columbia.edu.
  15. News: 1936-08-24. JANICE L. CURRICK BECOMES A BRIDE; Married at the Savoy-Plaza to Francis S. Levien, Member of a Brooklyn Family.. en-US. The New York Times. 2021-09-19. 0362-4331.