Magazine

Hershey Trust Co.


The Trust, which controls 77% of the voting stock of Hershey Foods Corp. (HSY), managed to embitter nearly everyone involved in its short-lived attempt to sell the company. The idea was to diversify its holdings. But citizens in Hershey, Pa., protested, as did alumni of the school for needy kids that is funded by the Trust. And the state attorney general sued to block a quick sale. The Trust backed down--just as Hershey execs were close to striking a deal with competitor Wm. Wrigley Jr. Co. (WWY) Since the fiasco, 10 of the 17 directors have left the board.


Later, Baby
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