Harry Henshel
Encyclopedia
Harry B. Henshel was an American businessman and the last member of the Bulova family to head the Bulova Watch Company
, as president, chairman
and chief executive officer
.
on February 5, 1919. He graduated from Brown University
and the Harvard School of Business. Henshel often participated in college track and field competitions in New York City during his college years, often serving as the timekeeper
.
Henshel married Joy Altman on November 4, 1948 in New York City. The couple had four daughters. The Henshel family moved to Scarsdale, New York
, in 1951.
Politically, Henshel supported both Republican
and Democratic
candidates. Henshel was once active in the local Scarsdale, New York
Republican Party, served as chairman of Scarsdale's local chapter of the party. Henshel was a supporter of Republican presidential candidate, Wendell Willkie, during Willkie's failed campaign in the 1940s. Despite his Republican affiliation, Henshel attended the 1960 Democratic National Convention
at which his father served as a Democratic delegate from New York.
Henshel was an avid horse racing
enthusiast who raised thoroughbreds, including famous horses such as Shockproof. Henshel kept many of his horses at a stable
in Ocala, Florida
.
by Henshel's grandfather Joseph Bulova. By the mid-20th century, Bulova was the largest American maker of luxury and middle market watches. Henshel began work at Bulova following World War II
after serving with the U.S. military. Henshel took over as president of the company in 1959, after the death of his uncle, Arde Bulova, in 1958. Henshel became the chairman of the watch company in 1974.
Bulova is credited with a number of innovations in watch making and time keeping. According to the Bulova website, the company introduced the world's first clock radio in 1928, and in 1931 began manufacturing the first electric clocks. In 1948 Bulova began developing the Phototimer, a unique combination of photo-finish camera and precision electronic timing instrument. The Phototimer was the first automatic timing device to be used in competitive sports.
Though Bulova was known as a luxury watchmaker, Henshel attempted to target the budget market soon after becoming president of Bulova. Henshel signed an agreement with Citizen Watch Co.
of Japan
in 1960 to create a line of inexpensive watches which were marketed under the Caravelle
brand name. The move was a direct attempt to compete with the Timex Corporation.
Henshel's most successful product line was the introduction of the Accutron watch, an early electronic watch, in the 1960s and 1970s. The Accutron was different than previous watches as it did not contain a balance wheel
or mainspring
. The Accutron contained a battery powered transistor circuit which sent impulses to a tiny internal tuning fork
, which turned the watch's hands. The Bulova Watch Company guaranteed the Accutron to be accurate to within two seconds. The Accutron was a hit and major innovative and financial success for the company. The Johnson Administration
used it as a common gift. Ultimately, the Accutron mechanism was adapted for use in the United States space program, including on the Skylab
Space Station. Accutron mechanisms were also left behind on the Moon
to be used as part of a seismometer
moonwalker, which transmitted lunar information back to Earth
from the Sea of Tranquility.
Bulova did make a number of financial mistakes under Henshel in the 1970s, which cost the company some of its market share. The company saw digital watches as a fad
. Bulova ignored the growing trend and did not introduce a digital watch line until 1975, five years after its competitor, Pulsar
. The company also failed to build on the Accutron technology. Bulova failed to successfully market the newer quartz watch. Quartz watches were battery powered and used a vibrating quartz crystal instead of an internal tuning fork, like the Accutron. This gave the quartz watches greater timing accuracy.
The Bulova Watch Company began to lose money in the 1970s. The company reported a loss in 1975. These loses caused Bulova to become a takeover target in the mid-1970s. First Gulf & Western Industries Inc. and the Stelux Manufacturing Company variously bought controlling interests in the mid-1970s. Henshel himself stepped aside as chief executive and president of Bulova in 1976, but remained chairman of the company. Finally, the Tisch Family-controlled Loews Corporation
bought the company in 1979 turning Bulova into a private subsidiary
. Under Loews, the Bulova began turning a profit again in the 1980s.
Additionally, as a director of its Board of Trustees, Henshel helped run a nonprofit school called the Joseph Bulova School of Watchmaking. The school was set up by the Bulova Company in 1945 to teach World War II veterans watch repair, and was supported by the Bulova Foundation. Interest in watch crafting declined and the school closed around 2000.
Bulova
Bulova is a corporation making luxury watches and clocks. It has its headquarters in Woodside, Queens, New York City.Bulova was founded and incorporated as the J. Bulova Company in 1875 by Joseph Bulova , an immigrant from Bohemia...
, as president, chairman
Chairman of the Board
The Chairman of the Board is a seat of office in an organization, especially of corporations.Chairman of the Board may also refer to:*Chairman of the Board , a 1998 film*Chairmen of the Board , a 1970s American soul music group...
and chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
.
Personal life
Henshel was born in New York CityNew York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
on February 5, 1919. He graduated from Brown University
Brown University
Brown University is a private, Ivy League university located in Providence, Rhode Island, United States. Founded in 1764 prior to American independence from the British Empire as the College in the English Colony of Rhode Island and Providence Plantations early in the reign of King George III ,...
and the Harvard School of Business. Henshel often participated in college track and field competitions in New York City during his college years, often serving as the timekeeper
Timekeeper
A timekeeper is an instrument or person that measures the passage of time; in the case of the latter, often with the assistance of a clock or stopwatch...
.
Henshel married Joy Altman on November 4, 1948 in New York City. The couple had four daughters. The Henshel family moved to Scarsdale, New York
Scarsdale, New York
Scarsdale is a coterminous town and village in Westchester County, New York, United States, in the northern suburbs of New York City. The Town of Scarsdale is coextensive with the Village of Scarsdale, but the community has opted to operate solely with a village government, one of several villages...
, in 1951.
Politically, Henshel supported both Republican
Republican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
and Democratic
Democratic Party (United States)
The Democratic Party is one of two major contemporary political parties in the United States, along with the Republican Party. The party's socially liberal and progressive platform is largely considered center-left in the U.S. political spectrum. The party has the lengthiest record of continuous...
candidates. Henshel was once active in the local Scarsdale, New York
Scarsdale, New York
Scarsdale is a coterminous town and village in Westchester County, New York, United States, in the northern suburbs of New York City. The Town of Scarsdale is coextensive with the Village of Scarsdale, but the community has opted to operate solely with a village government, one of several villages...
Republican Party, served as chairman of Scarsdale's local chapter of the party. Henshel was a supporter of Republican presidential candidate, Wendell Willkie, during Willkie's failed campaign in the 1940s. Despite his Republican affiliation, Henshel attended the 1960 Democratic National Convention
1960 Democratic National Convention
The 1960 Democratic National Convention was held in Los Angeles. In the end, the Kennedy-Johnson ticket was assembled and went on to secure an electoral college victory and a narrow popular vote plurality in the fall over the Republican candidates Richard M...
at which his father served as a Democratic delegate from New York.
Henshel was an avid horse racing
Horse racing
Horse racing is an equestrian sport that has a long history. Archaeological records indicate that horse racing occurred in ancient Babylon, Syria, and Egypt. Both chariot and mounted horse racing were events in the ancient Greek Olympics by 648 BC...
enthusiast who raised thoroughbreds, including famous horses such as Shockproof. Henshel kept many of his horses at a stable
Stable
A stable is a building in which livestock, especially horses, are kept. It most commonly means a building that is divided into separate stalls for individual animals...
in Ocala, Florida
Ocala, Florida
Ocala is a city in Marion County, Florida. As of 2007, the population recorded by the U.S. Census Bureau was 53,491. It is the county seat of Marion County, and the principal city of the Ocala, Florida Metropolitan Statistical Area, which had an estimated 2007 population of 324,857.-History:Ocala...
.
Bulova
The Bulova Watch Company was founded as a jewelry store in 1875 in Manhattan's Financial DistrictFinancial District, Manhattan
The Financial District of New York City is a neighborhood on the southernmost section of the borough of Manhattan which comprises the offices and headquarters of many of the city's major financial institutions, including the New York Stock Exchange and the Federal Reserve Bank of New York...
by Henshel's grandfather Joseph Bulova. By the mid-20th century, Bulova was the largest American maker of luxury and middle market watches. Henshel began work at Bulova following World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
after serving with the U.S. military. Henshel took over as president of the company in 1959, after the death of his uncle, Arde Bulova, in 1958. Henshel became the chairman of the watch company in 1974.
Bulova is credited with a number of innovations in watch making and time keeping. According to the Bulova website, the company introduced the world's first clock radio in 1928, and in 1931 began manufacturing the first electric clocks. In 1948 Bulova began developing the Phototimer, a unique combination of photo-finish camera and precision electronic timing instrument. The Phototimer was the first automatic timing device to be used in competitive sports.
Though Bulova was known as a luxury watchmaker, Henshel attempted to target the budget market soon after becoming president of Bulova. Henshel signed an agreement with Citizen Watch Co.
Citizen Watch Co.
is the core company of a Japanese global corporate group based in Tokyo, Japan. The company was originally founded as Shokosha Watch Research Institute in 1918 and is currently known as the manufacturer of CINCOM precision lathe machine tools as well as CITIZEN watches. The trade name originated...
of Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
in 1960 to create a line of inexpensive watches which were marketed under the Caravelle
Caravelle
Caravelle may be a reference to:* Caravelle, the French marketing name for the typeface Folio* Sud Aviation Caravelle, the short/medium-range jet airliner, produced by Sud Aviation...
brand name. The move was a direct attempt to compete with the Timex Corporation.
Henshel's most successful product line was the introduction of the Accutron watch, an early electronic watch, in the 1960s and 1970s. The Accutron was different than previous watches as it did not contain a balance wheel
Balance wheel
The balance wheel is the timekeeping device used in mechanical watches and some clocks, analogous to the pendulum in a pendulum clock. It is a weighted wheel that rotates back and forth, being returned toward its center position by a spiral spring, the balance spring or hairspring...
or mainspring
Mainspring
A mainspring is a spiral torsion spring of metal ribbon that is the power source in mechanical watches and some clocks. Winding the timepiece, by turning a knob or key, stores energy in the mainspring by twisting the spiral tighter. The force of the mainspring then turns the clock's wheels as it...
. The Accutron contained a battery powered transistor circuit which sent impulses to a tiny internal tuning fork
Tuning fork
A tuning fork is an acoustic resonator in the form of a two-pronged fork with the prongs formed from a U-shaped bar of elastic metal . It resonates at a specific constant pitch when set vibrating by striking it against a surface or with an object, and emits a pure musical tone after waiting a...
, which turned the watch's hands. The Bulova Watch Company guaranteed the Accutron to be accurate to within two seconds. The Accutron was a hit and major innovative and financial success for the company. The Johnson Administration
Johnson Administration
Johnson Administration may refer to:*Andrew Johnson Administration, 17th President of the United States, 1865–1869*Lyndon B. Johnson Administration, 36th President of the United States, 1963–1969...
used it as a common gift. Ultimately, the Accutron mechanism was adapted for use in the United States space program, including on the Skylab
Skylab
Skylab was a space station launched and operated by NASA, the space agency of the United States. Skylab orbited the Earth from 1973 to 1979, and included a workshop, a solar observatory, and other systems. It was launched unmanned by a modified Saturn V rocket, with a mass of...
Space Station. Accutron mechanisms were also left behind on the Moon
Moon
The Moon is Earth's only known natural satellite,There are a number of near-Earth asteroids including 3753 Cruithne that are co-orbital with Earth: their orbits bring them close to Earth for periods of time but then alter in the long term . These are quasi-satellites and not true moons. For more...
to be used as part of a seismometer
Seismometer
Seismometers are instruments that measure motions of the ground, including those of seismic waves generated by earthquakes, volcanic eruptions, and other seismic sources...
moonwalker, which transmitted lunar information back to Earth
Earth
Earth is the third planet from the Sun, and the densest and fifth-largest of the eight planets in the Solar System. It is also the largest of the Solar System's four terrestrial planets...
from the Sea of Tranquility.
Bulova did make a number of financial mistakes under Henshel in the 1970s, which cost the company some of its market share. The company saw digital watches as a fad
FAD
In biochemistry, flavin adenine dinucleotide is a redox cofactor involved in several important reactions in metabolism. FAD can exist in two different redox states, which it converts between by accepting or donating electrons. The molecule consists of a riboflavin moiety bound to the phosphate...
. Bulova ignored the growing trend and did not introduce a digital watch line until 1975, five years after its competitor, Pulsar
Pulsar
A pulsar is a highly magnetized, rotating neutron star that emits a beam of electromagnetic radiation. The radiation can only be observed when the beam of emission is pointing towards the Earth. This is called the lighthouse effect and gives rise to the pulsed nature that gives pulsars their name...
. The company also failed to build on the Accutron technology. Bulova failed to successfully market the newer quartz watch. Quartz watches were battery powered and used a vibrating quartz crystal instead of an internal tuning fork, like the Accutron. This gave the quartz watches greater timing accuracy.
The Bulova Watch Company began to lose money in the 1970s. The company reported a loss in 1975. These loses caused Bulova to become a takeover target in the mid-1970s. First Gulf & Western Industries Inc. and the Stelux Manufacturing Company variously bought controlling interests in the mid-1970s. Henshel himself stepped aside as chief executive and president of Bulova in 1976, but remained chairman of the company. Finally, the Tisch Family-controlled Loews Corporation
Loews Corporation
Loews Corporation is a holding company run by the Tisch Family whose subsidiaries are engaged in the following lines of business:*property and casualty insurance...
bought the company in 1979 turning Bulova into a private subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
. Under Loews, the Bulova began turning a profit again in the 1980s.
Additionally, as a director of its Board of Trustees, Henshel helped run a nonprofit school called the Joseph Bulova School of Watchmaking. The school was set up by the Bulova Company in 1945 to teach World War II veterans watch repair, and was supported by the Bulova Foundation. Interest in watch crafting declined and the school closed around 2000.