Repository: UIHistories Project: Dedication - Swanlund Administration Building [PAGE 7]

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were an outstanding 44% on sales and 8 1 % on earnings. Brunswick was the darling of Wall Street. With Brunswick stock as a much desired currency, Brunswick made sixteen acquisitions in the period 1958 through 1961. Les, either as a senior officer, or as a director, was involved with them all—some of which are household names like Mercury outboard motors and Stern drives, Zebco fishing tackle, Sherwood medical products and MacGregor golf clubs. A lot of money was made on Brunswick stock because of the rapid rise in its market value, l b put some perspective on this, Brunswick stock was selling for $20 a share at the end of 1954 and, adjusted for numerous stock dividends and splits in the interim, its per share market value rose to almost $ 1500 per share in 1961. This was a 75-fold increase in value over the 7 year period! Les retired from the company in I960. He was always an astute investor (a talent also enjoyed by his wife Maybelle). He and Maybelle went to California to enjoy the good life. There he continued his winning investment ways and became a very successful industrial real estate entrepreneur. Lester Swanlund's contributions to Brunswick were many, but the Brunswick-Murray negotiations, the Murray buyout, and the innovative financing of Brunswick's growth were key in my book. Brunswick probably would not be in existence today if it were not for his efforts in these areas back then. They allowed the company to become a major company that in 1986 had a $1.7 billion in sales and net income of $110 million. The company now has almost 89 million shares of stock outstanding compared to 473,000 shares in 1954. Adjusted for stock dividends and splits, one share of stock purchased for $20 at the end of 1954 would have an equivalent of $4,512 today—a 225-fold increase in value! The total market value of the total shares outstanding is about $2.5 billion. I look back over the years and I owe much to Lester Swanlund as a friend and business associate. So to Maybelle his wife, his friends, and members of the University of Illinois staff, it is a privilege to be here today at the rededication of the building that bears his name. Maybelle, it is wonderful that you were able to complete the building as you planned—what a fitting memorial to a nice man who was also a financial genius! Thank you.