Once again, I would like to commend Jacques Kelly for calling out important moments and/or
places in the history of our beloved Baltimore (“What Warren Buffett learned when he bought into
Baltimore” Oct. 26).
I do believe Baltimore got the best of Buffett in that transaction because it opened up a second
career for our Marylander of the Century, Walter Sondheim Jr. Walter’s family became owners of
Hochschild Kohn alongside the Kohns when, together, they bought the shares of Max
Hochschild in 1927. Walter joined his father in the business and served for 41 years, ultimately
as senior vice president and de facto chief operating officer.
During these years of demanding work at the firm, he also served our community as a leading
“Business Volunteer” on key issues for key political leaders: Mayor Thomas D’Alesandro Jr
tapped him to join the City School Board in 1948 and he served as Chair in 1954, leading
Baltimore to become the first city south of the Mason Dixon to desegregate following the
Supreme Court Decision of Brown v. Board of Education. Two years later, he would be tapped to head the Baltimore Urban Renewal & Housing Authority. Mayor McKeldin then appointed him to head the Inner Harbor companion project to the preexisting Charles Center initiative. He also was a vital member of the Kitchen Cabinet that begat the Greater Baltimore Committee.
In my mind, Walter’s historic pivot occurred with the sale of HK. As Jacques states, the firm was
sold to Buffett in 1966 and then resold to Supermarkets General in 1969. At age 62, with his
contractual duties completed, he was ready to commit full time to a portfolio of public good.
Importantly, he was tapped to lead the broader Metro Center initiative by Mayor D’Alesandro III
and join Charles Center-Inner Harbor Management as vice chairman. He would go on to serve
that organization for 15 years, for most of those years as chairman. He then joined the GBC as
a senior adviser and assisted successive mayors and governors, most notably William Donald
Schaefer, on issues spanning urban renewal, public education accountability, and effective
governance among many others. By the end, there was scarcely a key issue for Baltimore
and/or Maryland or a vital institution that did not have Walter’s formidable wisdom and integrity
behind it.
So I think Baltimore got the better of Buffett on this trade, Sondheim for Hochschild Kohn. In
fact, I would put it right up there with another landmark trade of the era, Frank Robinson for Milt
Pappas et al. Just like Frank would prove he was in fact “a young 30,” Walter would go on to
redefine “a young 62” with 36 years of championship service to Baltimore and Maryland.
— Mark Fetting, Baltimore
