Arnold Hiatt

Arnold Hiatt was an influential American businessman who served as president of Stride Rite, a footwear company. Known for his socially conscious initiatives and advocacy for electoral reform, he played a significant role in the company's growth from $35 million in sales in 1967 to over $600 million by 1992. Hiatt anticipated shifts in consumer preferences and strategically acquired firms to adapt to market trends.

He implemented innovative corporate policies, such as establishing a daycare center for employees in 1971, banning smoking in the workplace in 1986, and offering scholarships to inner-city youth to attend Harvard University. Stride Rite achieved exceptional financial performance, ranking among the top 1% of companies on the New York Stock Exchange with a compounded annual growth rate of 46%.

Hiatt was also a prominent advocate for electoral reform, calling for public financing of elections to reduce the influence of money in politics. He urged the passage of the Fair Elections Now Act, which aimed to promote small donations over large contributions. His efforts were recognized by Harvard Law School professor Lawrence Lessig, who praised his stance on campaign finance reform.

Despite his support for electoral reform, Hiatt faced challenges, including opposition from President Bill Clinton when he proposed ending private funding in political campaigns in 1996. Stride Rite was later acquired by Payless ShoeSource in 2007.