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Sparked by the GI Bill and fanned by good times, the University of Michigan s student body mirroring others around the country expanded from 20,000 enrollees in 1951 to 41,000 in 19681 Those numbers included Cork Walgreen, who graduated from Michigan s College of Pharmacy in 1958 Like the rest of the country, Walgreens had put most of its dreams on layaway during the Great Depression and World War II and now longed to satisfy 15 years of pent-up ambitions Americans wanted to buy up every available refrigerator, dishwasher, and clothes dryer, while Walgreens sought to expand the chain, to improve the working conditions for pharmacists, and to try some bold new strategies, none of which was possible with the shortages of materials, workers, and time that the previous 15 years had seen Walgreens celebrated the country s hard-won peace and prosperity by putting on an elaborate nationwide radio show that it could never have justified during the war But even in the war years, Walgreens commitment to radio advertising was impressive The company spent roughly $100,000 in 1940, doubled that by 1942, doubled it again the next year, and poured an incredible $500,000 into radio spots in 1944 Walgreens advertising executives went a step farther on June 17, 1945, when they put together a one-hour show called A Walgreens Birthday Party, the company s fourty-fourth, taped in the 2,500-seat Los Angeles Theater Radio critic Adele Hoskins reported in the Chicago Daily News that the program marked the first time in the history of radio that a sponsor will supply a variety of talent on one show that looks like a roster of Hollywood 2 The roster included Bing Crosby, Bud Abbott and Lou Costello, and the Andrews Sisters and raised $25 million for war bonds through the $1,000 admission price (That year alone Walgreens had helped sell some $20 million in war bonds to the company, to its employees through voluntary payroll deductions, and to its customers through designated soda fountain booths in each store3) Happy days were here again
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Because Walgreens had the money but not the materials or manpower to build new stores during the war, the company wisely salted away a portion of its earnings every year, earmarking the extra $15 million for expansion once the war had ended In a postwar issue of the Pepper Pod, Chuck Walgreen announced a new era of optimism when he declared, Extensive expansion is the keynote for 1946 4 But Walgreens did not expand the number of stores greatly under Chuck s reign only about a 20 percent increase during his three-decade run Instead, the company devoted its resources to refurbishing, replacing, and supersizing its existing outlets and to branching out into new areas, both physically and strategically Walgreens first dipped into its wartime nest egg to give its stores long overdue facelifts, from remodeling floor plans to installing fluorescent lighting By 1946, it was no longer possible to ignore that the company had finally outgrown its second headquarters on Bowen Avenue, despite four expansions over the previous 21 years Chuck and company started building a brand new corporate office at 4300 W Peterson Avenue on Chicago s northwest side Opened in 1949, the new headquarters 100,000 square feet of usable space was more than enough to house all 640 central employees, many of whom had been forced to work outside the old headquarters Like so many other US companies in the postwar era for whom diversification was the buzz word, Walgreens dived headfirst into the brave new world of mergers and acquisitions In the spring of 1946, Robert Knight received a call from Julio Lacaud, a prominent investment banker, the Kogans wrote, to see if Walgreens might be interested in buying a slice of Sanborns, a popular chain of department stores in Mexico5 The idea held more than a little appeal When Walgreens bought Sanborns in 1946, the Mexican chain consisted of just two links, with
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