Vernon Stouffer

In 1967, Litton Industries announced plans to acquire the Stouffer Foods Corporation for stock estimated at $100 million. While Stouffer Foods became a Litton subsidiary, it remained based in Cleveland under Vernon Stouffer and his management team. ==Baseball team ownership==

Stouffer bought a stake in the Cleveland Indians of the American League in 1962, and bought controlling interest from William R. Daley in August 1966. The Indians had endured a stretch of humdrum seasons following their heyday in the late 1940s and 1950s, and had seriously considered moving twice in the early 1960s due to poor attendance. However, the team had signed a 10-year lease at Municipal Stadium after the 1963 season, and the presence of a wealthy owner with strong Cleveland roots seemed to assure that the Indians would have the resources to get back into contention–in Cleveland. As part of the deal, team president and general manager Gabe Paul, who had also been a minority owner since 1962, stayed on as general manager and head of baseball operations. Unfortunately for Stouffer, soon after the Litton merger closed, Litton stock went into a tailspin; only three months after the merger, Litton had lost over half of its value. Stouffer had little option but to take the massive losses, as he had bought a substantial block of Litton stock and agreed to hold onto it for several years after the merger. With much of his paper wealth having vanished, Stouffer was left with little of the resources he intended to use to rebuild the team. ==Recognition==

Stouffer was a trustee for Litton Industries, United Airlines, Republic Steel, and Society Natl. Bank. In 1966, he established the Stouffer Prize, recognizing research in hypertension and arteriosclerosis. He was president of the Zoological Society and a founder of the Natl. Recreation & Park Assoc. In 1996 Vernon Stouffer were honored posthumously along with Conrad Hilton & J. W Marriott for the Hospitality Industry Hall of Honor. ==See also==