Irwin L. Jacobs

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Irwin L Jacobs is an entrepreneur and the CEO of several large corporations, including Genmar Holdings, Inc. the worlds largest boat building company. He earned the nickname "Irv the Liquidator" for his aggressive business practices in the 1970s and early 1980s

Jacobs started his career working with his father at his business, Northwestern Bag, Co. He attended college at University of Minnesota, then at the age of 33 he purchased the ailing Grain Belt (beer) in 1975 for $4.1 million with his company I.J. Enterprises . He tried unsuccessfully for 8 months to turn the company that was losing nearly $200,000 per month at the time around he then liquidated the company, selling the brand to G. Heileman Brewing Company, and profited $4 million (The Wall Street Journal July 30 1980). He later sold the property with the brewery to the City of Minneapolis in 1989 for $4.85 million (Star Tribune 18 February 1989).

Jacobs' next deal netted him even more. He read about W. T. Grant filing for bankruptcy in the Wall Street Journal and fancied purchasing the consumer accounts receivable owed to them. He soon thereafter negotiated a deal where he purchased the $276.3 million account for $44 million and 5% of first years sales (The Wall Street Journal July 30 1980).

He now owns many businesses including: Watkins Incorporated, Jacobs Management Corp., Jacobs Industries, Inc., J.Y.J. Corp., C.O.M.B. Co., Federal Financial Corporation, FFC Realty, Watkins, Inc., Northwestern Bag Corporation, Nationwide Collection Service, Inc., 1. Jacobs Enterprises, Kodicor, Inc., Brown-Minneapolis Tank and Fabricating Co., Regional Accounts Corporation, Nationwide Accounts, Corporation, Jacobs Bag Corporation, Lawndale Industries Inc., EQC of Indiana, Inc., Touch Corporation, JMSL Acquiring Corporation, S.J. Industries, Inc., JII Air Service, Inc., P.S.T. Acquiring Corporation.

Jacobs founded FLW Outdoors, the parent organization of the Wal-Mart FLW Tour, a series of sportfishing tours best know for its bass fishing tournaments, which were developed with an eye toward media coverage in general and television coverage in particular.^[1]