During Rasmussen's tenure at Beatrice, he added many high-profile acquisitions to its portfolio, most notably the publicly-traded Tropicana Products, Inc., which was acquired for $490 million in cash and preferred stock.
[1][2][7] Although a self-described "country boy," Rasmussen developed a reputation as a bold, tough, no-nonsense businessman, which spread in large part due to many media reports and his frequent stints as an interview subject of Pulitzer Prize-winning author and oral historian Studs Terkel, well known as a chronicler of the lives of ordinary Americans.
"[2] Soon after, his "pugnacious style" and "aggressive leadership ushered in a series of boardroom brawls" resulting in the "resignation of his designated successor," whom The Wall Street Journal described as "outflanked and outmuscled.
"[7] Described by oral historian Studs Terkel as "the boss," "the chief executive officer of the corporation," "big boned and heavy-set, with calloused hands," "bluff and genial" and having "the appearance of the archetypal elderly workingman in Sunday clothes," Rasmussen was prominently featured in several of his books, most notably American Dreams: Lost and Found (1980), My American Century (1997) and Hope Dies Last: Keeping the Faith in Difficult Times (2003).
[17] Rasmussen's lifetime achievements were recognized when he was awarded a 1978 Horatio Alger Award, an honor bestowed upon outstanding Americans who, similar to characters in stories by Horatio Alger, Jr., traditionally have started life in "humble circumstances" yet, "in spite of this early adversity, or many would say because of it, they have worked with great diligence to achieve success and the fulfillment of their dreams.
[2][4] In 1994, Rasmussen and journalist Mike Haggerty released The Headline vs. the Bottom Line: Mutual Distrust Between Business and the News Media.
: Labor and the Corporate Media, and Jay William Lorsch, Leslie Berlowitz and Andy Zelleke in their book, Restoring Trust in American Business.
[22][23][24] Based on interviews with more than 630 journalists and high level executives, the study was done while Rasmussen and Haggerty served as visiting professional scholars at the Freedom Forum First Amendment Center at Vanderbilt University.