John Francis Sandner*

Born in 1941 in an ethnic neighborhood close to downtown Chicago, Jack Sandner lived with his parents and brother in a three-room apartment heated by a pot-bellied stove. Sandner's father was a shoe salesman who worked his way up to the position of buyer. By the time Sandner was 10, his father had become an alcoholic and was unable to hold a job. The family moved to a cheaper third-floor walkup on a busy street filled with the sounds of streetcars. His mother worked in a five-and-dime store during the day and also had a night job.

Sandner attended Chicago Vocational High School, which was experiencing racial problems and violence. "You had to have your adrenaline flowing just to go through the front door of that school," said Sandner. He had a night job as a checkroom boy and often walked his mother home from her second job.

After a year of high school, Sandner dropped out. He got involved with boxing and was mentored by Tony Zale, the former middleweight champion of the world. Zale trained him in boxing and gave him Norman Vincent Peale's book, The Power of Positive Thinking. "That book changed my life," said Sandner.

Sandner returned to school and graduated as valedictorian of his class. He attended Southern Illinois University at Carbondale on a scholarship and worked for his meals as a hasher in the fraternity houses. He graduated with a degree in psychology and went on to earn a law degree from the University of Notre Dame. In 1968, Sandner won the prestigious moot court competition and graduated from Notre Dame, receiving the Dean Manion and H. Weber awards for appellate advocacy.

After beginning his career as a trial lawyer, he borrowed $80,000 in 1971 to buy a seat on the Chicago Mercantile Exchange. He traded on his lunch breaks and did well enough that by 1975, he had become a member and full-time trader at the Merc. He organized a trading firm and two years later was elected to the board. Within three years, he was elected chairman, the youngest in the Merc's 100-year history. Sandner was the first chairman to ever be elected to multiple terms.

"Some people say I've had a lucky life, but nothing has ever happened in my life without a negative being attached to it first that I've had to overcome," said Sandner. "You should never accept the facts that allow you to retreat. It was never luck for me. I had to work hard and study harder than everyone else. It takes a lot of things to be a success, and it isn't luck. It's seizing the opportunity and taking advantage of it."