60 Minutes Sunday night

ck1 · Joined: 04 Jan 2003 Posts: 1331 Location: Mesa

Did anyone else happen to catch 60 minutes Sunday night...one of the stories was on Malden Mills and it's owner Aaron Furnstein (sp)...Malden is in Mass. and produces Polartec fleece, actually they invented fleece, but didn't patent it...anyway...back in 95 there was a fire that gutted the plant, and he (Aaron) continued to pay his employess their full wages for months after the fire...all this is well known and public, however, the story discussed how he was awarded 12 honorary doctorates for his actions as a responsible corporate exec...now the company is in chapter 11, due to noone fault really, but the company is struggling, and people across the country are sending money to help Malden Mills out...what a story...how many people sent Enron money? What a great story...I know I didn't do it justice...but man, almost made me tear up the way the guy talked about how it would have been wrong for him not to pay his employees and reopen the plant after the fire...great American story...the guy is something...he should teach business classes...wow...
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desertgirl · Joined: 19 Jan 2003 Posts: 3350 Location: Chandler, AZ

Did not catch the 60 min show but I have kept track of this saga for a while ... Aaron is one of the Very few people that "demonstrate" caring for employees. Hope Malden Mills makes it out of Chapter 11..
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Daryl · Posted: 7/7/2003, 11:19 am Post subject:

To bad great people friendly business decisions are rarely the best decision to make for the business. Being a successful businessman and being considered a great person is a near impossible feat. I don’t know anything about this guy, but I’d bet money one of the reasons he’s in chapter 11 is because he didn’t lay people off when things got slow or he was too generous with raises.

Not having a heart is a requirement for top management. I guess I’ll never make it…

I hope things turn around for him and his employees.
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maryphyl · Posted: 7/7/2003, 3:45 pm Post subject:

When I first went into business I thought it was cruel and bad to lay people off in the slow season. I finally decided it was better to have jobs for some with the prospect of more jobs later than to go out of business and have jobs for none.
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Daddee · Posted: 7/7/2003, 4:04 pm Post subject: