Robert Michael Haft is an entrepreneur, primarily in health care, and became a household name in the Washington, D.C., Chicago, San Francisco, Houston, and Los Angeles markets for his Crown Books television commercial tagline, "Books cost too much".
Video Robert Haft
Education
Haft has a B.S. in economics from the Wharton School of the University of Pennsylvania. He was simultaneously earned an MBA from Harvard Business School as well as a master's degree from Harvard's School of Design.
Maps Robert Haft
Dart Group
Based on a thesis he wrote in business school, Haft founded Crown Books, a discount book chain and a subsidiary of the Dart Group, in 1977 after traveling around the country for five months learning about the book business. His father, Herbert Haft, funded the initiative. In 1979 he and his father founded a discount automotive chain called Trak Auto, which sold auto parts and accessories such as mufflers, batteries, pressure gauges, and seat cushions for 35% to 51% below suggested retail price. They also founded Cabot Morgan real estate company, Dart Financial, and purchased a controlling interest in Shoppers Food Warehouse.
In 1982 he was appointed president and chief operating officer of the its parent company, Dart Group, which made him "one of the youngest executives to head a major national company" at 29 years old. Crown Books enjoyed booming success in the early 1980s and 1990s, and Haft expanded the chain rapidly, and envisioned expanding the name to other lines, including Crown Software and Crown Music, some of which never saw actualization.
Other businesses
In the heat of a bitter divorce, Robert's father, Herbert Haft, then Chairman of the Dart Group, which owned a controlling share of Crown Books and Trak Auto, fired the Board of Directors of Dart Group, Crown Books, and Trak Auto, and Robert Haft as the book chain and automotive chains president. Robert countersued and won all claims; Dart Group and Crown Books were ordered to pay him about $34 million in compensation. After he left both previously successful chains fell into Chapter 11 bankruptcy.
With a portion of the money from the sale of his interest in Dart Group, and proceeds from a 1994 wrongful-termination lawsuit, Haft purchased Phar-Mor discount drug chain in 1995, founded and grew Vitamins.com, which had internet, retail, and catalog operations, and has led National Diabetic Pharmacies and other health care businesses. In 1997, he founded Morgan Noble Healthcare Partners, a private company that invests in healthcare services and healthcare technology, which has invested in companies like Privia Healthcare, Captify Health, and Carestream Health.
In 2005 he founded MainStreet Lender, which provides lending services for small business borrowers.
Personal life
He is married to Mary Haft.
In 2007, he donated $2 million to the Wharton School of the University of Pennsylvania to establish the Robert Haft Entrepreneur-in-Residence Endowment Fund.
References
External links
- "The Haft Rivalry rides herd on the Internet", Nightscribe.com, 1995
Source of article : Wikipedia
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