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very close to home When Charlie Morris thought to write Charles Walgreen Sr in 1930, it had been more than three decades since the two had worked together at William Valentine s store on 39th and Cottage Grove After Walgreen had returned from the Spanish-American War weakened by yellow fever and malaria, it was Morris who took in his friend to bring him back to health In the following years, however, as Walgreen began building his empire, the two old friends lost track of each other In 1930, a year into the Great Depression and before the days of the Occupational Safety and Health Administration (OSHA), workmen s compensation, the National Labor Relations Board, and the growth of the personal injury industry, Morris severely injured his hand at his job He was flat out of luck, out of work, and soon enough out of money Desperate, he decided to see if the rich drugstore merchant he had been reading about in the papers was his old friend from Valentine s store, and he sent him a letter Walgreen answered promptly, inviting his former colleague to visit him at Walgreens headquarters The rich man grabbed the aged Morris and hugged him like a long-lost brother, one paper reported The two old pals had the time of their lives renewing their friendship Walgreen covered Morris s medical care and gave him a job for life 9 The most important thing Walgreen did for his employees, however, was not rescue them from disaster but direct a company that, incredibly, continued to grow throughout the Depression In the long run, it s far more helpful to keep everyone fishing than to hand out fish Fresh from the success of the previous decade s unprecedented growth, Walgreen posted a sign outside his office that said, Don t rest on your laurels He followed the simple maxim religiously Instead of backing off or being content to tread water until the trouble passed, the company s directors kept pushing ahead We expect to continue moderately to increase the number of our stores, Walgreen wrote to his employees, as well as to develop new products and all the facts within my knowledge justify a feeling of cautious but firm confidence in the immediate as well as in the long-range future of our company 10
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Walgreen wanted to make this point with his top managers more forcefully, face to face So he summoned the directors of Walgreens 18 territories representing zone offices from New York in the East to Salt Lake City in the West, from Minnesota in the North to Houston in the South their top assistants, and Walgreens executives for the first company-wide meeting at Chicago s Stock Yard Inn (an irony Upton Sinclair would have appreciated) on April 6 and 7, 1931 The speakers most of them well-known Walgreens executives offered advice, support, and motivation to surmount the obstacles that the Great Depression presented, covering everything from merchandising to hiring to advertising nationwide In his lecture on the importance of window displays, vice president Harry Goldstine maintained, Precedent should not stand in the way of progress, giving the managers a free hand to try new approaches representing the outgrowth of progressive ideas Robert Knight weighed in on economizing Fine results have been attained, he said, by eliminating unnecessary things and unnecessary people, by giving the honey makers more scope and letting the drones loaf elsewhere It is not clear if he was advocating layoffs, but the Walgreens workforce grew substantially during the Depression Robert H Riemenschneider, the company s director of promotion and advertising, ended the two-day meeting with a crescendo by announcing that the company was less than two weeks away from launching a nationwide, five-day sale, running from April 16 to 20, and would generate publicity for the first-time event by spending over $75,000 for ads in 122 newspapers, blanketing every one of Walgreens 98 markets11 The managers were understandably thrilled to get such overwhelming backing and returned to their towns with great anticipation for the upcoming event The sale s success encouraged similarly aggressive efforts throughout the decade At the end of the next fiscal year, at the very nadir of the Depression, Charles Walgreen Sr received a personal letter from Arthur Andersen, father of the eponymous Big Five accounting firm, who felt compelled to
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