The Kresge Foundation known as The Detroit Future City plan. Since July 1, 2006, the foundation has been led by Rip Rapson, formerly of the McKnight Foundation. He succeeded John Marshall III as president and CEO. In 1924, with an initial gift of $1.6 million, Sebastian Kresge established The Kresge Foundation in Detroit. Twelve years earlier, he and partner John G. McCrory opened the first 5-and-10-cent store, and parlayed the concept and operations into a chain of stores that were incorporated as the S.S. Kresge Company. Many years later the enterprise became known as Kmart. The foundation and the stores are not affiliated.
Barker's Discount Department Stores Barker's Discount Department Stores Barkers Discount Department Stores was a chain of discount department stores founded in May, 1957 by Irving Barker. As one of the first hard goods discounters, and with creative promotions, the initial store, in Orange, Connecticut, grew quickly with a wide variety of products for the home arranged in a supermarket style. This success spawned a second 40,000 sq. ft. location in Wallingford, Connecticut in 1960. The company was sold to Franklin Stores Corporation in 1961, and then grew quickly throughout the Northeast and South Central United States, the Caribbean, and the United States Virgin Islands.