[3] In 1960, the company changed its name to General Drive-In Corp and went public on the New York Stock Exchange[2] although Smith retained a controlling interest.
[4] In the late 1960s, General Cinema began purchasing bottling franchises eventually becoming the largest independent bottler in the United States.
[4] In 1984, General Cinema purchased a controlling interest in Carter Hawley Hale, the tenth largest clothing retailer in the United States and owner of the Bergdorf Goodman, Neiman-Marcus, John Wanamaker's, Thalhimers, and Holt Renfrew chains,[4] saving it from a hostile takeover from Leslie Wexner.
[4] They also cautiously expanded into megaplexes with sit-down cafes, seat-side service, "loveseats," gourmet food and coffee, and liquor; and associated with top brands such as Starbucks, Pepsi, Taco Bell, and Pizzeria Uno.
[9][10] His son, Robert Smith and son-in-law Brian Knez, were co-CEOs of Harcourt General until its sale then co-founded private equity shop Castanea Partners in 2001.
[5] His nephew is Jeffrey Lurie; in 1994, he and his sister provided collateral for a $185 million loan enabling Jeff to purchase the Philadelphia Eagles.