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Obama said a CEO took less money to keep workers and .... (Original Post) TeamPooka Sep 2012 OP
He was referring to Anderson Windows in Warroad, MN dflprincess Sep 2012 #1
see also Malden Mills central scrutinizer Sep 2012 #3
Their goddess Ayn Rand wouldn't like that at all Kingofalldems Sep 2012 #2

dflprincess

(28,057 posts)
1. He was referring to Anderson Windows in Warroad, MN
Thu Sep 6, 2012, 11:21 PM
Sep 2012

Such an odd occurance it made the New York Times

http://www.nytimes.com/2011/09/25/business/economy/housing-slump-forces-cuts-at-a-small-town-company.html?pagewanted=all
[div class = "excerpt"]
... Marvin Windows might seem like a footnote in the nation’s economic ledger. It employs roughly 4,300 people, about 2,000 of them here, and has annual sales somewhere from $500 million to $1 billion. But what this company is doing — and, more to the point, what it is not doing — is worth knowing.

Marvin Windows and Doors is a throwback to another era. For starters, it is a private company. No public stockholders are complaining that the latest numbers fell short, that the share price is down.

What’s more, Marvin takes an old-fashioned, even paternal view of its role here in Warroad, where the Marvin family has run things for just about as long as anyone can remember. The company has cut employees’ pay and reduced perks like tuition reimbursement and 401(k) matching. Employees haven’t received profit-sharing checks in two years, nor have the 16 members of the Marvin family who work for the company.


And, when times are good, the employees have been known to get some really impressive profit sharing checks.

central scrutinizer

(11,617 posts)
3. see also Malden Mills
Fri Sep 7, 2012, 12:24 AM
Sep 2012

the origin of Polartec. When the place burned down, the CEO continued to pay all of the workers until the mill was rebuilt.

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