RIP: Melvin Gordon

Melvin Gordon has died at the age of 95. He was the CEO of Tootsie Roll ($TR).

People are often surprised that Tootsie Roll is its own stock. They assume it’s owned by major corporation like Cadbury or Hershey. Nope, Tootsie is all by itself and Melvin Gordon was its CEO for 53 years.

The stock was actually a strong performer for many years. It rallied from 20 cents per share in 1980 to $30 by 1998. Since then, it hasn’t done much. It’s mostly rallied up and down between $20 and $30 per share. Tootsie has also issued 3% stock dividends every year for the last 17 years (I believe that’s correct).

Still, I have a special place in my heart for small, oddball companies that do their own thing. I’ll miss you, Melvin.

Posted by on January 21st, 2015 at 12:31 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.