Dick Smith and General Cinema
It’s remarkable how much value can be created by a small group of really talented people.
—David Wargo, Putnam Investments
In 1962, Phillip Smith died suddenly of a heart attack. Smith had come to Boston from Russia in 1908 and, after working a variety of odd jobs, had found his way into the nascent nickelodeon business. He worked first as an usher, advanced to ticket taker, and was eventually promoted to general manager of a movie theater in downtown Boston. In 1922, five years before Al Jolson broke the cinematic sound barrier, he borrowed money from friends and family and opened a theater in Boston’s North End.
Over the following forty years, Smith built a successful chain ...
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