During one of her womenswear shows in the early '90s, a model walked down the runway in a handsome navy coat so perfectly tailored that retailers and editors swooned.

WSJ: Fashion Designer Jil Sander Makes a Comeback

Hardis, a sharp-tongued transplant from New York City, knows the model he'd like to follow: Emerson Electric, which gets its handsome multiple (20 times expected earnings) from operating performance rather than empire building.

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