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Edward Filene
Edward Albert Filene (September 3, 1860, Salem, Massachusetts - September 26, 1937, Paris, France) was an American businessman and philanthropist. He is best known for building the Filene's department store chain and for his decisive role in pioneering credit unions across the United States.
==Early life==
Edward was one of five children of William Filene (born: May 8, 1830) and Clara Ballin ( born: December 13, 1833). William Filene was a German Jewish immigrant from Posen, Prussia, while Clara Ballin was born in Segnitz-am-Main, Bavaria. William immigrated to the US in 1848 after abandoning law school in Berlin. As “a peddler, chiefly of women’s apparel” he built up a company composed of several small retail shops and in 1881 founded a department store in Boston.〔Stillman, Yanki. (Edward Filene: Pioneer of Social Responsibility. ) ''Jewish Currents.'' Sept. 2004.〕 It was some time in the 1850s that William and Clara met while Clara was visiting relatives in Hartford, Connecticut. They married in New York City.
At the age of 5 Edward was injured in a fall that left him with a permanent limp. In 1872, Clara Filene enrolled her three boys in Handel's Institut, a military school, known for excellence in instruction and discipline. The boys remained at the school until 1875, and it was a period of intense loneliness and homesickness for Edward. Upon his return to the US, Edward attended high school in Lynn, Massachusetts, and worked in his father's store evenings, weekends, and summers. Edward passed his entrance exams for Harvard University but gave up his educational ambitions to take over the family business in 1890 when his father became seriously ill. One of the great disappointments in his life was being unable to attend Harvard.
Together with his younger brother Abraham Lincoln Filene, reorganized their father's store into William Filene's Sons Company, which would later become'' Filene's.'' In 1909, Edward established the "Automatic Bargain Basement" whereby unsold merchandise moved from the floor to the basement as prices were gradually reduced on a set schedule. Additionally, as goods remained unsold, they were eventually donated to charity. Eventually, Edward was ousted from store management, but retained an office and the title of President. His ouster allowed him to dedicate more time to his passions of travel, civic organizations, and philanthropy.
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