Jeno Paulucci may not know much, but he does know food.
He sees the world through a microwave oven -- through ravioli, chicken marsala and pot roasts ready in moments and through stomachs run empty by busy schedules.
You may never have heard of him, but he's probably been feeding you and your family for decades.
Even at 88 years old, the frozen food mogul whose current lines include Michelina's and Budget Gourmet is still peddling products all over the world. He recently began shipping to Russia, and is poised soon to hit the Chinese market. Paulucci is also starting a new line of appetizers called Bundinos, which are frozen buns filled with turkey or pizza ingredients.
"I try to keep ahead of the timing," Paulucci said. "Wherever there's a microwave, I believe we should have our product."
It began with Chun King lo mein in the 1940s and mushroomed into pizza and pasta lines. He is perhaps best known for his namesake Jeno's pizza rolls, though he sold that company to General Mills in 1985 for some US$150 million and a big load of regret.
"I should've kept the pizza roll. It's something that'll damn near live forever," he said.
Mike Harper, former chairman and CEO of RJR-Nabisco and head of ConAgra Foods, remembered inviting Paulucci to talk with staff in the mid-1990s.
"I wanted to try to generate an entrepreneurial climate, and I wasn't sure these people in New York knew what an entrepreneur was. Jeno was my definition of an entrepreneur," Harper said. "He's rough, he's plainspoken and a very direct guy. I happen to like that kind of guy. I like doing business with them."
Born three decades before anyone had a home microwave, Paulucci has made a fortune producing meals for the now-ubiquitous appliance. He still works at least five days a week micromanaging a lucrative Michelina's Inc food empire and splitting time between his native Minnesota and modest "international" headquarters in Florida. Besides the food lines, Paulucci also has a chain of small banks (Republic) and numerous Florida real estate holdings.
Paulucci, the son of an immigrant miner, was constantly teased over his heritage, prompting him in 1975 to found the Italian American Foundation -- "so that if you made a few dollars somebody wouldn't ask what syndicate you belonged to."
He sprinkles in more than a few mild profanities when he talks.
"I used to get into fights. I used to just beat up any ... kid I could, as long as I got the first hit into them," he said. "I guess that's carried through in my life, and that's why I am so litigious. It isn't that I want to prove myself as much as it is I want to get even with the other guy. At age 88 you'd think I'd get over the ... thing."
Paulucci started his Chun King business in 1944 with a US$2,500 loan, and sold it to R.J. Reynolds less than two decades later for US$63 million. He says he has started around 70 companies, some more successful than others. Paulucci tries to build them up, sell them off and then start building another.
Though still designing new entrees, Paulucci hasn't been to the grocery store in a decade. He says he has never touched a computer, and prefers that employees use e-mail only if there's no other option.
Paulucci is 1.63m tall and rough-spoken, with a sandpaper voice.
He sure holds a grudge. He started a pie-filling company in 1950 specifically to drive a former business partner bankrupt (he lost money selling at drastically cut rates, but forced his competitor to do the same until he went out of business).
For a businessman, Paulucci also has unconventional ideas about labor. He's stridently pro-union, and thinks the country is long overdue for a minimum-wage increase. He has made a practice of hiring convicted criminals and the disabled.
He believes businesses should give up to 5 percent of pretax projects for community projects, and those who make more than US$100,000 a year should pay at least an extra percent or two in taxes.
For all his success, there are a few calls Paulucci would like back. He sold off shares in surgical staple and packing wrap companies because he didn't think they'd take off or quibbled with owners. He started several restaurants that failed for various reasons (bad locations, bad managers or his own stubbornness).
He details many of his experiences in a recent book called Jeno: The Power of the Peddler.
As a young barker at a food market, Paulucci persuaded customers to buy discolored bananas by calling them "Argentine" and bumping up the price. Decades later, he used an incubator to heat up a Chinese food competitor's products so they would be rancid on sales calls.
He was once forced to pop a dead grasshopper from one of his freshly opened cans quickly into his mouth before the client could see it.
LONG FLIGHT: The jets would be flown by US pilots, with Taiwanese copilots in the two-seat F-16D variant to help familiarize them with the aircraft, the source said The US is expected to fly 10 Lockheed Martin F-16C/D Block 70/72 jets to Taiwan over the coming months to fulfill a long-awaited order of 66 aircraft, a defense official said yesterday. Word that the first batch of the jets would be delivered soon was welcome news to Taiwan, which has become concerned about delays in the delivery of US arms amid rising military tensions with China. Speaking on condition of anonymity, the official said the initial tranche of the nation’s F-16s are rolling off assembly lines in the US and would be flown under their own power to Taiwan by way
CHIP WAR: The new restrictions are expected to cut off China’s access to Taiwan’s technologies, materials and equipment essential to building AI semiconductors Taiwan has blacklisted Huawei Technologies Co (華為) and Semiconductor Manufacturing International Corp (SMIC, 中芯), dealing another major blow to the two companies spearheading China’s efforts to develop cutting-edge artificial intelligence (AI) chip technologies. The Ministry of Economic Affairs’ International Trade Administration has included Huawei, SMIC and several of their subsidiaries in an update of its so-called strategic high-tech commodities entity list, the latest version on its Web site showed on Saturday. It did not publicly announce the change. Other entities on the list include organizations such as the Taliban and al-Qaeda, as well as companies in China, Iran and elsewhere. Local companies need
CRITICISM: It is generally accepted that the Straits Forum is a CCP ‘united front’ platform, and anyone attending should maintain Taiwan’s dignity, the council said The Mainland Affairs Council (MAC) yesterday said it deeply regrets that former president Ma Ying-jeou (馬英九) echoed the Chinese Communist Party’s (CCP) “one China” principle and “united front” tactics by telling the Straits Forum that Taiwanese yearn for both sides of the Taiwan Strait to move toward “peace” and “integration.” The 17th annual Straits Forum yesterday opened in Xiamen, China, and while the Chinese Nationalist Party’s (KMT) local government heads were absent for the first time in 17 years, Ma attended the forum as “former KMT chairperson” and met with Chinese People’s Political Consultative Conference Chairman Wang Huning (王滬寧). Wang
OBJECTS AT SEA: Satellites with synthetic-aperture radar could aid in the detection of small Chinese boats attempting to illegally enter Taiwan, the space agency head said Taiwan aims to send the nation’s first low Earth orbit (LEO) satellite into space in 2027, while the first Formosat-8 and Formosat-9 spacecraft are to be launched in October and 2028 respectively, the National Science and Technology Council said yesterday. The council laid out its space development plan in a report reviewed by members of the legislature’s Education and Culture Committee. Six LEO satellites would be produced in the initial phase, with the first one, the B5G-1A, scheduled to be launched in 2027, the council said in the report. Regarding the second satellite, the B5G-1B, the government plans to work with private contractors
RSS