|Industry||Retail (convenience stores)|
|Number of locations||50,254|
|Key people||Joseph DePinto, CEO|
Big Gulp beverage Cup
Other products include: coffee, sandwiches, prepared foods, gasoline, dairy products, various beverages
|Revenue||$16.681 billion (Estimated) US$ (2009)|
|Employees||45,000 (2010 NA)|
|Parent||Seven & I Holdings Co. Ltd.|
Machines to make frozen beverages were invented by Omar Knedlik in the late 1950s. The idea for a slushed ice drink came when Knedlik’s soda fountain broke down, forcing him to put his sodas in a freezer to stay cool, which caused them to become slushy. Many people loved them, which gave him the idea to make a machine to help make a “slushy”. When it became popular, Knedlik hired artist Ruth E. Taylor to create a name and logo for his invention. She created the ICEE name and designed the original logo, which is used today. Early prototypes for the machine made use of an automobile air conditioning unit. In 1965, 7-Eleven began a licensing deal with The ICEE Company to sell the product under certain conditions. Two of these were that 7-Eleven must use a different name for the product, and that the company was only allowed to sell the product in 7-Eleven locations in the US, a non-compete clause ensuring the two drinks never went head to head for distribution rights. 7-Eleven then sold the product that in 1967 became known as the “Slurpee” (for the sound made when drinking them). The term was coined by Bob Stanford, a 7-Eleven agency director.
The Slurpee machine has a separate spout for each flavor at the front of a tumbler or freezer, where patrons pour their own Slurpees. When Slurpees were first introduced, the dispensing machine was located behind the counter, and the clerk was tasked with dispensing the product. Common flavors are frozen Coke, Mountain Dew, and cherry, but new flavors are introduced regularly. In the Slurpee’s early history, flavors rotated much more frequently than today.
A dual-chambered Slurpee cup was announced for June 2011 release which uses a double straw and switchable valve to allow consumers to drink either of the flavors alone or both flavors simultaneously.
History of 7-Eleven
A variation of the 7-Eleven logo with a lighter shade of green.
One Arts Plaza, which houses the U.S. headquarters of 7-Eleven
The company has its origins in 1927 in Dallas, Texas, when an employee of Southland Ice Company, John Jefferson Green, started selling milk, eggs and bread from an improvised storefront in one of the company’s ice houses. Although small grocery stores and general merchandisers were present in the immediate area, Joe C. ‘Jodie’ Thompson, Jr., the manager of the ice plant, discovered selling convenience items, such as bread and milk, was popular due to the ice’s ability to preserve the items. This significantly cut back on the need to travel long distances to the grocery stores for basic items. Thompson eventually bought the Southland Ice Company and turned it into Southland Corporation, which oversaw several locations which opened in the Dallas area.
By 1928, a manager of one of these locations brought back a totem pole from Alaska and placed it in front of his store. Due to the attention received by the totem pole, additional totem poles were placed at each of the locations and all the stores began operating under the name “Tot’em Stores” (a word play on the totem poles as well as the idea that customers toted away their purchases). In that same year many of the locations also began selling gasoline. Although the Great Depression caused the company to go bankrupt in 1931, it still managed to continue operations.
In 1946, in an effort to continue the company’s post war recovery, the name of the stores was changed to 7-Eleven to reflect their hours of operation—7 am to 11 pm, which at the time was unprecedented. By 1952, 7-Eleven opened its 100th store. It was incorporated as Southland Corporation in 1961. In 1962, 7-Eleven first experimented with a 24-hour schedule in Austin, Texas after an Austin store was forced to remain open all night due to customer demand following a University of Texas football game. By 1963, 24-hour stores were established in Fort Worth and Dallas, Texas as well as Las Vegas, Nevada.
In the 1980s, the company encountered financial difficulty, selling off its ice division, and was rescued from bankruptcy by Ito-Yokado, its largest franchisee. This also resulted in several metropolitan areas losing 7-Eleven stores to rival convenience store operators. In 1987, John Philp Thompson, the CEO of 7-Eleven, completed a $5.2 billion management buyout of the company his father had founded. The buyout suffered from the 1987 stock market crash and after failing initially to raise high yield debt financing, the company was required to offer a portion of the company’s stock as an inducement to invest in the company’s bonds.
The Japanese company gained a controlling share of 7-Eleven in 1991, during the Japanese asset bubble of the early 1990s. Ito-Yokado formed Seven & I Holdings Co. and 7-Eleven became its subsidiary in 2005. In 2007, Seven & I Holdings announced it would be expanding their American operations, with an additional 1,000 7-Eleven stores in the United States.
From 1970-Very Groovy
Here is “Dance the Slurp”
On this day in 1804 Aaron Burr shot and killed Alexander Hamilton in a duel in New York
Remember to call Coach Billy at 248-569-7283 for all of your home mortgage needs
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Remember to check out Total Performance for all of your training needs. Jim Kielbaso is highly experienced, an excellent motivator and has tremendous knowledge. He can do it all from offseason football workouts to injury rehab to personal running mechanics. Jim can be reached at Total Performance Training Center in Wixom at 248-669-9818.
When anywhere near 12 Mile and Middlebelt…stop at Bella Vita for delicious pizza, chicken, subs and more. It is a locally owned business and the owners are friendly and on-site. There is a nice wine shoppe next door…Bella Vino for all of your party needs. It is located next to Jeans Hardware directly across 12 Mile from Farmington Hills Harrison High School. Stop in before or after a game or on your way to a picnic!!
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