Throwback Thursday: Saluting the Manufacturing Mainstays

I ran across an interesting IndustryWeek list recently. Titled "Around for the Long Haul," it included prominent manufacturing firms founded 100 years ago or more. Bet you didn't know these companies have been around this long.

You will find a few Indiana connections, past and present. The partial list:

  • 1665: Saint-Gobain
  • 1760: Lorillard
  • 1802: DuPont & Co.
  • 1806: Colgate-Palmolive
  • 1837: Procter & Gamble
  • 1866: Sherwin-Williams
  • 1872: Kimberly-Clark
  • 1876: Eli Lilly & Co.
  • 1886: Johnson & Johnson
  • 1883: PPG Industries
  • 1894: The Hershey Co.
  • 1898:Goodyear Tire & Rubber
  • 1902: 3M
  • 1903: Harley-Davidson
  • 1903: Ford Motor Co.
  • 1905: Ingersoll-Rand
  • 1906: Xerox
  • 1911: IBM
  • 1911: Whirlpool
     

Press-Seal Gasket Corp: Fort Wayne Company Seals Future with Dynamic Approach

Founded in 1954, Press-Seal Gasket Corporation has grown from a small Fort Wayne operation to a company with international reach, selling to customers in Israel, Sweden, Norway, Mexico, Canada, Japan and some Caribbean countries.

“When I first started as a salesman in 1978, I was just the 13th employee,” relays Chairman and CEO James Skinner, adding the company now has 138 on staff.

Skinner explains the company was initially founded by a concrete pipe producer who wasn’t satisfied with the quality of rubber gaskets available at the time. Ten years later following some deaths in his family, two attorneys serving as the company’s counsel ended up owning the company. They struggled to produce a reliable accounting report, so they called IBM to send a computer salesman out in 1964 to straighten it out.

“My father (Hank Skinner) was working for IBM and was sent out to Press-Seal and explained IBM could not sell them a computer because the company was too small, and the cost of the computer would have been half of its annual revenues.”

He did provide them with a bookkeeping system and a list of accountants who could keep it straight.

“Basically, they were so impressed with him that they offered him part of the business – to come in as general manager,” Skinner says. “Then over the next eight years, my father purchased the interest of the other two stockholders. Since 1964, our family has been involved in the management of the company, and I purchased it from my parents in 1984.”

Over time, the company has expanded from mainly pipe gaskets and pipe-to-manhole connectors, and in 1990 expanded into extrusion and molding. Press-Seal has also added a tool and die operation.

“That’s a similar story to how the company started,” Skinner notes. “I was unable to get good delivery from local tool and die shops because we were a small company and all the larger companies in the Fort Wayne market were their priority. So I bought a small tool and die shop in Columbia City and turned it from a small shop that was servicing the foundry and automotive industries to a shop that focuses on medical, aerospace, automotive and higher tech things. It’s now a fully integrated shop…

“It allows us to take a different tack on how things are made,” he adds, noting that stainless parts are a specialty of the operation. “While a lot of tool and die shops are going out of business these days, we are thriving. We find a lot of customers are in a lot of pain in terms of non-delivery and (a shop) not understanding the customers’ needs.”

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Unlimited Vacation Days? Not That Crazy, According to Inc.

We could all use some good old R & R. Like most of us, I wouldn’t mind more days off to experience it. Just think of what I could do with all that extra time: go to state parks; make my own ketchups; or start a rock band consisting of only red heads — "The Ginger Blossoms." (Oh, also, it would strictly be a Gin Blossoms cover band — and we’ll probably just play "Hey Jealousy" over and over… enjoy the concert.) 

To my delight, an article in Inc. contends that the concept of limited vacation days might be getting a little antiquated. 

The 9 a.m.-to-5 p.m. workplace is almost dead. Throw your preconceived notions about vacation out the window and give your employees the no-strings-attached, unlimited vacation days they deserve or you’ll soon be a dinosaur.

With an unparalleled culture in which our people actually enjoy coming to work (see Your Employees Need a Treehouse and Let Your Employees Choose Their Titles) as the foundation, every last Red Frog employee is unflinchingly focused and devoted to our mission. Producing vast amounts of quality work is the norm, so we reward them with unlimited vacation and they, in return, reward Red Frog with outstanding work that blows me away every single day.

Taking vacation at Red Frog is encouraged (and even celebrated). And it’s not abused. Ever. By anyone. Simply make sure your work is getting done and make sure you’re covered while you’re away and that’s it—no questions asked.

The pessimists and naysayers have said this policy would either be abused or that it’s not entirely real—that our employees feel pressured to never take off. I assure you they’re underestimating a positive work culture and are simply wrong. Also, I feel sorry for their workplace.

Through building a company on accountability, mutual respect, and teamwork, we’ve seen our unlimited vacation day policy have tremendous results for our employees’ personal development and for productivity. There. I said it. I think Red Frog is more productive by giving unlimited vacation days. Here’s why:

  1. It treats employees like the adults they are. If they’re incapable of handling the responsibility that comes along with having unlimited vacation days, they’re probably incapable of handling other responsibilities too, so don’t hire them.
  2. It reduces costs by not having to track vacation time. Tracking and accounting for vacation days can be cumbersome work. This policy eliminates those headaches.
  3. It shows appreciation. Your employees will need unexpected time off and some need more vacation than others. By giving them what they need when they need it, you show your employees how much you appreciate them and they reciprocate by producing more great work.
  4. It’s a great recruitment tool. We hire a mere one out of every 750 applicants at Red Frog. When you combine fantastic benefits with a positive culture, it’s noticed.

Furthermore, the newsletter HR Specialist lists a couple of current examples:

  • At tech giant IBM, each of its 355,000 workers earns three or more weeks’ vacation each year, but the company says it doesn’t officially keep track of time off.

  • Netflix lets its 400 salaried workers take as much vacation time as they want, saying workers are evaluated on performance, not "face time."

Hat tips on the info to Chamber staffers Ashton Eller and Michelle Kavanaugh.

‘Searching’ for the Top Global Brand

An annual study of the most valuable global brands finds tech companies leading the way. Not surprising, I guess, as consumer loyalty is at the heart of brand value — and consumers are dedicated to their technical tools and toys.

The top four in the "BrandZ Top 100 report" from research firm Millward Brown Optimor: Google, IBM, Apple and Microsoft. Apple and IBM enjoyed the biggest increase (among the top 10) in value over 2009 at 32% and 30%, respectively. The rest of the top 10: Coca-Cola, McDonald’s, Marlboro, China Mobile, General Electric and Vodafone.

Other tech brands that exprienced strong growth included Verizon (No. 20), SAP (No. 21), AT&T (No. 22), Samsung (at No. 58 with 80% brand growth) and Sony (No. 94).

A common trend among many companies was the utilization of social media to build brand awareness. It didn’t make the top 100, but one of those social media tools — Facebook — did show a brand dollar value of $5.5 billion.

Google was number one for the fourth straight year. The research firm interviewed more than one million consumers worldwide in addition to analyzing each company’s financial and business performance.