Paul Fireman
Paul Fireman (born February 14, 1944) is an American businessman, who for 26 years led Reebok International, Ltd. as chairman and CEO. Fireman sold Reebok to Adidas in 2005.
Paul Fireman | |
|---|---|
| Born | February 14, 1944 (age 80) Cambridge, Massachusetts, U.S. |
| Occupation | Businessman |
| Employer | Fireman Capital Partners |
| Spouse | Phyllis Brenner[1] |
Early life and education edit
Fireman was born February 14, 1944, in Cambridge, Massachusetts, to a Jewish family[1] and raised in the working-class city of Brockton, Massachusetts, also called 'Shoe City'. He attended high school at Tabor Academy, a private secondary school in Marion, MA and matriculated to Boston University, but did not graduate.[2]
Personal life edit
Fireman and his wife Phyllis[2] (née Brenner) grew up in Brockton, Massachusetts and met at age 12 at a YMHA mixer. Fireman and his wife, Phyllis, are competitive bridge players. In 2014, his team won the Roth Open Swiss Teams at the Summer North American Bridge Championship (NABC) in Las Vegas[3] and subsequently captured the bronze medal representing the U.S. in Chennai, India at the World Bridge Championships in 2015.[4]
Career edit
Fireman began his career at age 18 working in the family business, Boston Camping, selling outdoor sporting goods and fishing tackle for 15 years.[2]
While attending a sporting goods show in Chicago in 1979 Fireman met Joe Foster, the owner of an English running shoe company founded in 1895 called Reebok.[5] Fireman acquired the North American sales rights to Reebok in 1979 and eventually bought the English-based parent company outright in 1984.[2][6] Reebok capitalized on the increasing popularity of aerobics in California and introduced the world's first aerobic shoe designed specifically for women in 1982 called Freestyle. Riding the success of the Freestyle shoe as the aerobics craze swept across America, Fireman grew the company and Reebok issued an IPO in 1985.[2] In 1988, Fireman established the annual Reebok Human Rights Awards recognizing activists under the age of 30 who exposed and reduced human rights atrocities.[7]
Fireman sold Reebok to Adidas in 2005 for $3.8 billion; Fireman himself made $800 million from the deal.[6] He is currently[when?] the Chairman of Fireman Capital Partners, a Boston-based, consumer-focused private equity firm founded in 2008 with his son Dan, the firm's Managing Partner.[6][8]
Golf course development edit
Fireman has been active in golf course development and in 1991 he purchased Willowbend Country Club (Mashpee, Massachusetts). The development of additional courses followed that included Rio Mar Resort and Country Club (Puerto Rico), Costa Caribe Golf and Country Club (Puerto Rico), Coco Beach Golf and Country Club (Puerto Rico), The Ranch Golf Club (Southwick, Massachusetts), and Starr Pass Club (Tucson, Arizona).[1]
Fireman was one of the developers of Liberty National Golf Club (Jersey City, New Jersey), which is adjacent to Liberty State Park. The golf club is one of the most expensive ever built, costing a reported $250 million dollars.[9][10] It site had formerly housed an ammunition depot during World War I, a prisoner of war camp during World War II, and later an oil refinery and warehouse for industrial goods, having become a “a toxic moonscape of corroded oil tanks, contaminated soil, and rusting warehouses” by 1999 (Forbes).[11] Although Fireman has publicly taken credit for paying to redevelop the "former toxic Superfund site",[10] the cost of cleaning the land was at least in part paid with public funds.[12] It is one of the most exclusive golf clubs in the world, with initial membership fees contemplated at $500,000 to $750,000 in 2004.[13][14]
In 2017 Fireman spearheaded a push to expand the golf club by 3 holes by acquiring the Caven Point section of Liberty State Park, which is a migratory bird habitat, sparking a controversy amongst Jersey City community members and environmental activists.[15][16][17][18] The attempted acquisition of Caven Point by private developers also inspired proposed legislation entitled The "Liberty State Park Protection Act", which would permanently protect much of the park from privatization.[19]
Fireman reportedly responded to the public backlash with a strategy to begin "framing the park’s redevelopment as a 'fight for social justice,' just as the nation was roiled by the police killing of George Floyd". Fireman funded a social media push to oppose the public redevelopment plan, pushing the narrative that it was "excluding communities of color from decision-making and asking on its website, 'Do Black lives matter when it comes to Liberty State Park?'" [20][21]
The golf club also came under fire for collecting $751,452 from the Paycheck Protection Program, a relief fund for small businesses affected by the shutdown caused by the COVID-19 pandemic.[22][23]
Since its opening in 2006, Liberty National has hosted three FedEx Cup playoff tournaments (The Barclays in 2009, 2013 and The Northern Trust in 2019, 2021) and the Presidents Cup in 2017. Liberty National also hosts junior golf tournaments (AJGA Polo Junior Classic 2019, 2021) and the First Tee of New Jersey.
Other activities edit
In 2010, Fireman placed his Winecup-Gamble Ranch up for sale for $50 million.[24]
In 2014, Fireman proposed a $4.6 billion project on New Jersey's Gold Coast, which would include a 95-story tower with a casino and 100,000-seat motor sport stadium.[25] The New Jersey Constitution does not allow casinos outside of Atlantic City.[25] In 2016, Fireman was an important backer of Public Question 1, a ballot measure that would amend the constitution to allow casino gambling in North Jersey.[26] After numerous polls showed that Question 1 had no chance to pass, Fireman, along with Jeff Gural, pulled their financial support for the measure. Bill Cortese, the leader of Trenton's Bad Bet, a group opposed to the question, said, "Trenton's Bad Bet will not be distracted by billionaire developers throwing temper tantrums because they don't get what they want."[27]
Philanthropy and political contributions edit
The Paul and Phyllis Fireman Charitable Foundation was established in 1985.[28]
Fireman is a supporter of The First Tee whose mission is to "impact the lives of young people by providing educational programs that build character, instill life-enhancing values and promote healthy habits through the game of golf."[29][30]
Campaign contributions edit
Fireman donated $250,000 to Republican Mitt Romney's 2012 presidential campaign, but he has also donated to Democratic Senators Bob Menendez and Cory Booker and several other candidate and committees of both parties.[31] Fireman donated $1 million to the 2016 presidential campaign of New Jersey Governor Chris Christie.[32]
Awards edit
- The Academy of Achievement's Golden Plate Award, 1987
- Thurgood Marshall Corporate Leadership Award
- Northeastern University Commencement Speaker and Honorary Degree, Doctor of Humanities, 1990[33]
- Babson College, Honorary Degree, LL.D. Doctor of Laws, 1994[34]
- Tabor Academy Lifetime Achievement Award, 2007[35]
- Suffolk University Commencement Speaker and Honorary Degree, Doctor of Commerce, 2013[36]
- Mannie Jackson Award, 2015[37]
- Sports Business Journal Lifetime Achievement Award, 2015[38]
References edit
- ^ a b c Rynecki, David (October 17, 2005). "Fireman's Fantasy". Fortune. Retrieved October 18, 2015.
Some stories suggest that Fireman never seriously pushed his case; others that Fireman's high profile was a concern. A more controversial account: Fireman was blackballed because he is Jewish
- ^ a b c d e AP (August 15, 2005). "The Man Who Made Reebok Jump High". LA Times. Retrieved October 18, 2015.
- ^ "Chestnut Hill native wins national title at North American Bridge Championship". Newton, MA Patch. August 19, 2014. Retrieved April 22, 2020.
- ^ "The Bermuda Bowl | World Bridge Federation". Retrieved April 22, 2020.
- ^ Johnson, Kieron. "Reebok co-founder shares 3 rules for startup success". Business Insider. Retrieved April 22, 2020.
- ^ a b c Healy, Beth (June 10, 2011). "Paul Fireman takes another shot". The Boston Globe. Retrieved October 18, 2015.
- ^ Fireman, Paul (2003). From the Pain Come the Dream: The Recipients of the Reebok Human Rights Award. New York: Umbrage. ISBN 1884167357.
- ^ "Dan Fireman | Fireman Capital Partners | Boston Massachusetts". www.firemancapital.com. Retrieved April 22, 2020.
- ^ Schonbrun, Zach (August 26, 2014). "Jersey City Course is Picked to Host 2017 Presidents Cup". The New York Times.
- ^ a b "Paul Fireman on His $250 Million Golf Course Liberty National". Forbes.
- ^ Bertoni, Steven. "Inside A $250 Million Golf Course". Forbes. Retrieved October 1, 2022.
- ^ "The Presidents Cup on the Hudson".
- ^ "WA Golf Company, L.L.C; Liberty National Golf Club : No Action, Interpretive and/Or Exemptive Letter of March 29, 2004, 2004".
- ^ "For $450,000, Golf Bliss and CEO Buddies". ABC News.
- ^ Tully, Tracey (January 9, 2020). "Golf Club for the 1 Percent Wants to Seize a Migratory Bird Habitat". The New York Times.
- ^ "Golf Club for the 1 Percent Wants to Seize a Migratory Bird Habitat". The New York Times. January 9, 2020.
- ^ "Protesters rally at Liberty State Park to ward off billionaire's golf course expansion".
- ^ "Protesters Confront Liberty National Golf Club's Fireman". August 21, 2021.
- ^ Bills njleg.state.nj.us
- ^ "He's Still Fighting Developers for the Park His Father Founded". The New York Times. August 26, 2021.
- ^ "Billionaire-funded group says state's plan to clean up Liberty State Park is not enough". September 24, 2020.
- ^ "Ultra-exclusive Liberty National Golf Club received up to $1 million PPP loan". MJ.com. July 12, 2020.
- ^ "WA Golf Company LLC in Jersey City, NJ - SBA PPP Loan Data (Paycheck Protection Program)".
- ^ Jackson, Candace (September 3, 2010). "Paul Fireman's Nevada Ranch Lists for $50 Million". Wall Street Journal. Retrieved October 18, 2015.
- ^ a b Bagli, Charles (July 9, 2014). "Reebok Founder Proposes 95-Story Tower With Casino for Jersey City". New York Times. Retrieved October 18, 2015.
- ^ Backers of Leadowlands Jersey City casinos suspend campaign northjersey.com
- ^ Campaign pushing expand gambling New Jersey suspended ap.org
- ^ "The Paul and Phyllis Fireman Charitable Foundation".
- ^ "Paul and Dan Fireman Show Support For The First Tee Chapters of New Jersey With a Unique Donation". PRWeb. Retrieved April 22, 2020.
- ^ "Paul Fireman Meets Mentees from New Jersey First Tee Chapters" (PDF). Hunter Public Relations. May 12, 2016.
- ^ "Man who wants to build Jersey City casino is a big political donor: The Auditor". NJ.com. July 14, 2014. Retrieved October 18, 2015.
- ^ Friedman, Matt (July 31, 2015). "Billionaires, casino interests give to Christie super PAC". Politico. Retrieved October 18, 2015.
- ^ "Commencement Speakers & Honorary Degrees | Northeastern University Library". library.northeastern.edu. Retrieved April 22, 2020.
- ^ College, Babson. "fireman-paul". www.babson.edu. Retrieved April 22, 2020.
- ^ "Alumni Recognition | Tabor Academy". www.taboracademy.org. Retrieved April 22, 2020.
- ^ "Paul Fireman Suffolk University Commencement Speech". YouTube.
- ^ "The Naismith Memorial Basketball Hall of Fame :: Paul Fireman, Bill Self and Steve Smith Named Winners of 2015 Mannie Jackson - Basketball's Human Spirit Award". www.hoophall.com. Retrieved April 22, 2020.
- ^ "SBJ honors former Reebok CEO Paul Fireman with Lifetime Achievement Award". June 16, 2021.