John F. Schwegmann
John F. Schwegmann is an American businessman and politician. He is married to Melinda B. Schwegmann, the former Lieutenant Governor of Louisiana.
Public Service Commission[edit]
Schwegmann served for 15 years on the Louisiana Public Service Commission, following his father, John G. Schwegmann.[1][2] A Democrat, Schwegmann lost his seat in 1996 to Jay Blossman, a Mandeville Republican.[2] The two ran for the same seat again in 2002, with Blossman once again victorious.[2]
Career[edit]
After his father's death, Schwegmann ran the Schwegmann Giant Super Markets chain.[1] His grandfather founded the company.[3] Schwegmann retired in 1997 when he sold 26 of the 28 stores to Kohlberg & Co..[3] In 2005, he was ordered by a judge to pay his sister $5 million.[4] Schegmann received 82% of the company stock, his brother, Guy, received 15%, and their sister, Melba Brown, received 3%.[4] Schwegmann never paid dividends on the shares and instead retained the earnings in the company.[4] The judge ruled that had she been paid a dividend and invested the money herself, it would have amounted to $5 million.[4]
References[edit]
- ↑ 1.0 1.1 Massa, Dominic (August 7, 2017). "'The People's Grocer': Book looks back at history of Schwegmann empire". NoLa.com. Retrieved July 11, 2020.
- ↑ 2.0 2.1 2.2 Chang, Cindy (July 17, 2008). "Jay Blossman leaving Public Service Commission race". The Times-Picayune. Retrieved July 14, 2020.
- ↑ 3.0 3.1 Zwiebach, Elliot (February 24, 1997). "SCHWEGMANN IS ACQUIRED BY KOHLBERG; CEO RETIRES". Supermarket News. Retrieved July 14, 2020.
- ↑ 4.0 4.1 4.2 4.3 4.4 "Former supermarket magnate ordered to pay $5 million". The Daily Review. Morgan City, Louisiana. Associated Press. February 1, 2005. p. 6. Retrieved July 14, 2020 – via Newspapers.com.
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