LIQUOR: The Schenley Reserves

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Schenley's new top team, pointing to the company's net of $22 million last year, insists that Rosenstiel will still be the boss, and that no big changes will be made. But Schenley now seems to have a somewhat healthier respect for the lowly blend, and may push its blends harder in the future. Says President Heymsfeld: "You can't sell a man a Cadillac when all he can afford is a Chevrolet."

* Other changes: Carl Kiefer, 71, moved up from executive vice president to assistant chairman; Henry Gayley, 51, became treasurer; Earl Gassenheimer, 41, comptroller; Richard Gilbert, 50, vice president.

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