David Glass (businessman)

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For other people of the same name, see David Glass (disambiguation).

David Dayne Glass (born September 2, 1935)[1] is the former President and Chief Executive Officer of Wal-Mart Stores, Inc. He is currently the owner and Chief Executive Officer of the Kansas City Royals.

Career with Wal-Mart[edit]

David Glass joined the company in 1976. In his position as Executive Vice President of Finance for Wal-Mart Stores, he administered the overall financial and accounting responsibilities of the company prior to his appointment as Vice Chairman and Chief Financial Officer. He served in that role until 1984 when he was named President and Wal-Mart’s Chief Operating Officer. Along with Rob Walton, in 1985 Glass managed development of Retail Link program, Walmart's proprietary trend-forecasting software.[2] In 1988 he was named Wal-Mart’s Chief Executive Officer, stepping down from the position in January 2000. Glass was active in the company’s growth from 123 stores in 1976 to its more than 4,000 nationally and internationally in 2005.

Glass was named Retailer of the Year by members of the retail industry in 1986 and 1991 and was inducted into the Retail Hall of Fame in August, 2000. Glass has been a member of the Board of Wal-Mart Stores, Inc. since 1977.

Career with Kansas City Royals[edit]

Glass became the interim CEO and Chairman of the Board of Directors of the Royals on September 23, 1993, following the death of the founding owner, Ewing Kauffman.[3] Under Glass' leadership, the board cut the payroll budget from $41 million to $19 million. During the Major League Baseball strike of 1994-1995, Glass opposed any settlement with the players' union without a salary cap, and supported the use of strike breaking "replacement" players, despite a court ruling that the use of replacement players violated federal labor law.[4]

On April 18, 2000, Glass became sole owner of the Royals, purchasing the organization from the Kauffman estate for $96 million.[3] The Board approved his offer despite a competing bid of $120 million by Miles Prentice.[4] However, MLB rejected Prentice's offer because he didn't have enough net worth to withstand substantial losses. With none of the area's wealthy families willing to even consider buying the Royals, Glass was the only credible bidder who was interested in keeping the team in Kansas City.[5] An original stipulation of the sale was that any profits from Glass' sale of the Royals must go to charity, but that clause has since expired.[6]

During his tenure as owner, Glass has been criticized for bringing the same cost-cutting management style he used at Wal-Mart to the Royals. While he has garnered large profits, the Royals were barely competitive for most of the early part of the new millennium.[4] Glass' management is cited for transforming the Royals from a winning team in the 1980s to one of the worst teams in Major League Baseball during the 1990s and 2000s.[4][7]

Glass created a controversy on 9 June 2006 by revoking the press credentials of two reporters who had earlier asked pointed questions to Royals management.[8] The harsh move to avoid criticism infuriated many within the press and led to a backlash of articles that extended far beyond the Kansas City sports community.[9]

The Royals have had only three winning seasons during his ownership, in 2003, 2013 and 2014, when the club reached the 2014 Major League Baseball Playoffs and advanced to the World Series for the first time since 1985.[10]

Personal life[edit]

The son of Marvin Glass and Myrtle Van Winkle, Glass was born on a farm in Oregon County, Missouri and grew up in Mountain View, Missouri. He then graduated from Missouri State University in Springfield, Missouri.[1] Glass and his wife, Ruth, are the parents of three children, Dan, Don and Dayna, all of whom serve on the Royals' Board of Directors. Additionally, MSU's Glass Hall, which houses business and management classes, was named after him.

References[edit]

  1. ^ a b Ortega, Bob (1999). In Sam we trust: the untold story of Sam Walton .... pp. 96–99. ISBN 0-7494-3177-6. Retrieved 2009-09-20. 
  2. ^ http://www.pbs.org/wgbh/pages/frontline/shows/walmart/secrets/pricing.html Secrets - always low prices
  3. ^ a b "Glass has full plate as new Royals owner", Kansas City Star, April 20, 2000
  4. ^ a b c d Zinn, Dave (July 2010). Bad Sports: How Owners Are Ruining the Games We Love. Scribner. pp. 133–140. 
  5. ^ http://d2moo.blogs.cbssports.com/mcc/blogs/entry/18516000/21976091
  6. ^ Martin, David (2011-04-11). "David Glass won't say he's sorry for being a crappy owner.". The Pitch. Joel Hornbostel. Archived from the original on 2009-06-09. Retrieved 2011-06-09. 
  7. ^ Calhoun, Jim (September 2008). A Passion to Lead: Seven Leadership Secrets for Success in Business, Sports, and Life. St. Martins Press. ISBN 0-312-38466-1. 
  8. ^ http://seattletimes.nwsource.com/html/mariners/2003052323_albeat10.html Royals revoke credentials from 2 radio reporters
  9. ^ http://walmartwatch.com/blog/archives/espn_this_david_glass_is_empty/ This Glass is Half Empty
  10. ^ McCullough, Andy (2014-09-30). "Royals win AL Wild Card Game in walk-off thriller, 9-8". Kansas City Star. Retrieved 2014-09-30. 

External links[edit]

Preceded by
Sam Walton
President of Wal-Mart
1984–2000
Succeeded by
Lee Scott