October 29, 1929 “Black Tuesday” the day the stock market crashed was also the day that Robert M. McGuire, aka “Granddad” started to sell bolts and nuts full time. That’s the date that’s been told for years, maybe a little embellished, but that is the story and I am sticking to it. Robert M. was a tire salesman for the B.F. Goodrich Company in Ohio; calling on auto dealers, auto repair shops and tire dealers. What he found there was no steady supply of tire bolts* and started to sell them on the side. B.F. Goodrich found out and fired him. Granddad, said “fine, I’ll start my own business as I was making more money selling bolts & nuts then tires anyways.” Capital Sales, Inc. was started in the basement of a rooming house on 12th Avenue on the campus of The Ohio State University. Inventory was stored in peach baskets at the time. Robert O. McGuire, aka “RO” the son had to drop out of Ohio State in 1936 because of the depression, but more importantly to help his dad run their growing business.(…)
via Mike McGuire’s Family Celebrates 85 Years in the Fastener Industry.