Bernard Marcus
Encyclopedia
Bernard "Bernie" Marcus (born 1929 in Newark, New Jersey
) is an American pharmacist and retail entrepreneur
.
He was born to Jewish
-Russia
n immigrant parents in Newark, New Jersey
. He grew up in a tenement
and wanted to become a doctor. He couldn’t afford the tuition, so he worked for his father as a cabinet maker through Rutgers University
to earn a pharmacy
degree. While there he joined the Alpha Epsilon Pi
fraternity. He was also a brother of Alpha Kappa Psi
Business Fraternity.
Later, he worked at a drugstore
as a pharmacist but became more interested in the business and retailing part of the business. He worked at a cosmetics
company and various other retail jobs, eventually reaching a position as a top executive with Handy Dan Improvement Centers
, a Los Angeles
-based chain of home improvement stores. In 1978, after a disagreement with his boss at Handy Dan, he and Home Depot co-founder Arthur Blank
were both fired.
Together, with the help of New York investment banker Ken Langone who assembled a group of investors and business partner Arthur Blank
, they launched the highly successful home-improvement retailer The Home Depot
in 1979. The store revolutionized the home improvement business with its warehouse concept and the three became billionaire
s as a result. He was the company's first CEO for 19 years and served as chairman of the board until his retirement in 2002.
Mr. Marcus was inducted into the Junior Achievement U.S. Business Hall of Fame in 2006.
On October 17, 2008, Marcus participated in a conference call
urging clients to send "large contributions" to groups working against the Employee Free Choice Act
(EFCA), as well as to vulnerable Senate Republicans, who could help block passage of the bill. Over the course of an hour, Marcus and Rick Berman, an aggressive EFCA opponent, framed the legislation as an existential threat to American capitalism, or worse.
"This is the demise of a civilization," said Marcus. "This is how a civilization disappears. I am sitting here as an elder statesman and I'm watching this happen and I don't believe it."
..."If a retailer has not gotten involved in this, if he has not spent money on this election, if he has not sent money to Norm Coleman
and all these other guys, they should be shot. They should be thrown out of their goddamn jobs," Marcus declared.
that opened in downtown Atlanta, Georgia
in 2005. Based mostly on the US$
250M million donation for the Aquarium, Marcus and his wife, Billi, were listed among the top charitable donors in the country by The Chronicle of Philanthropy
in 2005.
Bernie Marcus also funded and founded The Marcus Institute, a nationally recognized center of excellence for the provision of comprehensive services for children and adolescents with developmental disabilities. In May 2005, Marcus was awarded the Others Award by the Salvation Army
, its highest honor.
Marcus is currently chairman of the Marcus Foundation, whose focuses include children, medical research, free enterprise, Jewish causes and the community.
Bernie is on the Board of Directors and an active volunteer for the Shepherd Center
. He's particularly involved in providing care for war veterans with traumatic brain injury.
Newark, New Jersey
Newark is the largest city in the American state of New Jersey, and the seat of Essex County. As of the 2010 United States Census, Newark had a population of 277,140, maintaining its status as the largest municipality in New Jersey. It is the 68th largest city in the U.S...
) is an American pharmacist and retail entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
.
He was born to Jewish
Orthodox Judaism
Orthodox Judaism , is the approach to Judaism which adheres to the traditional interpretation and application of the laws and ethics of the Torah as legislated in the Talmudic texts by the Sanhedrin and subsequently developed and applied by the later authorities known as the Gaonim, Rishonim, and...
-Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
n immigrant parents in Newark, New Jersey
Newark, New Jersey
Newark is the largest city in the American state of New Jersey, and the seat of Essex County. As of the 2010 United States Census, Newark had a population of 277,140, maintaining its status as the largest municipality in New Jersey. It is the 68th largest city in the U.S...
. He grew up in a tenement
Tenement
A tenement is, in most English-speaking areas, a substandard multi-family dwelling, usually old, occupied by the poor.-History:Originally the term tenement referred to tenancy and therefore to any rented accommodation...
and wanted to become a doctor. He couldn’t afford the tuition, so he worked for his father as a cabinet maker through Rutgers University
Rutgers University
Rutgers, The State University of New Jersey , is the largest institution for higher education in New Jersey, United States. It was originally chartered as Queen's College in 1766. It is the eighth-oldest college in the United States and one of the nine Colonial colleges founded before the American...
to earn a pharmacy
Pharmacy
Pharmacy is the health profession that links the health sciences with the chemical sciences and it is charged with ensuring the safe and effective use of pharmaceutical drugs...
degree. While there he joined the Alpha Epsilon Pi
Alpha Epsilon Pi
Alpha Epsilon Pi , the Global Jewish college fraternity, has 155 active chapters in the United States, Canada, United Kingdom and Israel with a membership of over 9,000 undergraduates...
fraternity. He was also a brother of Alpha Kappa Psi
Alpha Kappa Psi
ΑΚΨ is the oldest and largest professional business fraternity. The Alpha Kappa Psi Fraternity was founded on October 5, 1904 at New York University, and was incorporated on May 20, 1905...
Business Fraternity.
Later, he worked at a drugstore
Pharmacy
Pharmacy is the health profession that links the health sciences with the chemical sciences and it is charged with ensuring the safe and effective use of pharmaceutical drugs...
as a pharmacist but became more interested in the business and retailing part of the business. He worked at a cosmetics
Cosmetics
Cosmetics are substances used to enhance the appearance or odor of the human body. Cosmetics include skin-care creams, lotions, powders, perfumes, lipsticks, fingernail and toe nail polish, eye and facial makeup, towelettes, permanent waves, colored contact lenses, hair colors, hair sprays and...
company and various other retail jobs, eventually reaching a position as a top executive with Handy Dan Improvement Centers
Handy Dan
Handy Dan Home Improvement was one of the first home improvement retailer chains. It went out of business in May, 1989. Ironically, Handy Dan employed two corporate officers named Arthur Blank and Bernie Marcus...
, a Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
-based chain of home improvement stores. In 1978, after a disagreement with his boss at Handy Dan, he and Home Depot co-founder Arthur Blank
Arthur Blank
Arthur M. Blank is an American businessman and a co-founder of The Home Depot. Today he is known for his philanthropy and his ownership of the Atlanta Falcons in the National Football League.-Early life:...
were both fired.
Together, with the help of New York investment banker Ken Langone who assembled a group of investors and business partner Arthur Blank
Arthur Blank
Arthur M. Blank is an American businessman and a co-founder of The Home Depot. Today he is known for his philanthropy and his ownership of the Atlanta Falcons in the National Football League.-Early life:...
, they launched the highly successful home-improvement retailer The Home Depot
The Home Depot
The Home Depot is an American retailer of home improvement and construction products and services.The Home Depot operates 2,248 big-box format stores across the United States , Canada , Mexico and China, with a 12-store chain...
in 1979. The store revolutionized the home improvement business with its warehouse concept and the three became billionaire
Billionaire
A billionaire, in countries that use the short scale number naming system, is a person who has a net worth of at least one billion units of a given currency, usually the United States dollar, Euro, or Pound sterling. Forbes magazine updates a complete list of U.S. dollar billionaires around the...
s as a result. He was the company's first CEO for 19 years and served as chairman of the board until his retirement in 2002.
Mr. Marcus was inducted into the Junior Achievement U.S. Business Hall of Fame in 2006.
On October 17, 2008, Marcus participated in a conference call
Conference call
A conference call is a telephone call in which the calling party wishes to have more than one called party listen in to the audio portion of the call. The conference calls may be designed to allow the called party to participate during the call, or the call may be set up so that the called party...
urging clients to send "large contributions" to groups working against the Employee Free Choice Act
Employee Free Choice Act
The Employee Free Choice Act was a legislative bill that was introduced into both chambers of the U.S. Congress on March 10, 2009. The bill's purpose was to,...
(EFCA), as well as to vulnerable Senate Republicans, who could help block passage of the bill. Over the course of an hour, Marcus and Rick Berman, an aggressive EFCA opponent, framed the legislation as an existential threat to American capitalism, or worse.
"This is the demise of a civilization," said Marcus. "This is how a civilization disappears. I am sitting here as an elder statesman and I'm watching this happen and I don't believe it."
..."If a retailer has not gotten involved in this, if he has not spent money on this election, if he has not sent money to Norm Coleman
Norm Coleman
Norman Bertram Coleman, Jr. is an American attorney and politician. He was a United States senator from Minnesota from 2003 to 2009. Coleman was elected in 2002 and served in the 108th, 109th, and 110th Congresses. Before becoming a senator, he was mayor of Saint Paul, Minnesota, from 1994 to 2002...
and all these other guys, they should be shot. They should be thrown out of their goddamn jobs," Marcus declared.
Philanthropy
Marcus almost single-handedly funded and launched the new Georgia AquariumGeorgia Aquarium
The Georgia Aquarium, located in Atlanta, Georgia, United States, at Pemberton Place, is the world's largest aquarium with more than of marine and fresh water housing more than 120,000 animals of 500 different species...
that opened in downtown Atlanta, Georgia
Atlanta, Georgia
Atlanta is the capital and most populous city in the U.S. state of Georgia. According to the 2010 census, Atlanta's population is 420,003. Atlanta is the cultural and economic center of the Atlanta metropolitan area, which is home to 5,268,860 people and is the ninth largest metropolitan area in...
in 2005. Based mostly on the US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
250M million donation for the Aquarium, Marcus and his wife, Billi, were listed among the top charitable donors in the country by The Chronicle of Philanthropy
The Chronicle of Philanthropy
The Chronicle of Philanthropy is a biweekly newspaper that covers the nonprofit world. Based in Washington, DC, it is the top news source for charity leaders, foundation executives, fund raisers, and other people involved in philanthropy...
in 2005.
Bernie Marcus also funded and founded The Marcus Institute, a nationally recognized center of excellence for the provision of comprehensive services for children and adolescents with developmental disabilities. In May 2005, Marcus was awarded the Others Award by the Salvation Army
Salvation Army
The Salvation Army is a Protestant Christian church known for its thrift stores and charity work. It is an international movement that currently works in over a hundred countries....
, its highest honor.
Marcus is currently chairman of the Marcus Foundation, whose focuses include children, medical research, free enterprise, Jewish causes and the community.
Bernie is on the Board of Directors and an active volunteer for the Shepherd Center
Shepherd Center
Shepherd Center is a private, not-for profit hospital in Atlanta, Georgia. Founded in 1975, the hospital is devoted to the medical treatment, research and rehabilitation for people with spinal cord injury and disease, acquired brain injury, multiple sclerosis, chronic pain and other neuromuscular...
. He's particularly involved in providing care for war veterans with traumatic brain injury.