Behind The Bloody Battle In Dart's Boardroom
It was delicate business for Warren E. Tydings. The Dart Group Corp. director was trying to mediate a blood feud between his friend, Dart Chairman Herbert H. Haft, and Haft's son Robert. Although the father-son team had worked together for nearly two decades to build the company's network of discount chains--including Trak Auto, Crown Books, and Shoppers Food Warehouse--they now quarreled over just about everything. On May 22, the 81-year-old Tydings died, having accomplished little in his two months of peacemaking attempts. At his funeral, his widow, Anna Marie, took the elder Haft aside and told him that her husband's dying wish was that the Hafts work out their problems.
That deathbed appeal won't be granted anytime soon. The family rift runs the gamut of issues, from how quickly to expand a new chain of liquor outlets to whether Dart should reveal more information to shareholders. By far the most explosive issue has to do with whether 72-year-old Herbert, who owns 57% of the company, will turn over control to 40-year-old Robert, who owns only 8.3%. Herbert's wife, Gloria, controls 18% of the stock and has sided with Robert. Another son, Ronald, who runs the Haft family's real estate business, and daughter, Linda, who is an officer with the company's finance arm, have not yet publicly taken sides. Both own 8.3%.