TheMotleyFool.com (popular US investing website) asked me to write a piece on Lincoln Electric’s 2012 bonus and no-layoff stats – with attitude! Writing just before Christmas, I tapped into my inner-Scrooge: “A Shocking and Shameful Lack of Imagination.” – delivered with attitude, as ordered.
Meanwhile, the New York Times ran a piece on Dec. 21st titled: “No-Layoff Company Now Writes Profit Sharing Checks.”
I chuckled when I read the story about Marvin Windows (an excellent company, good employer, no question), revealing what the Times considers to be “impressive performance.” Have a look at a graphical comparison.
| MARVIN WINDOWS | LINCOLN ELECTRIC | |
| US Employees | 2,573 | 2,900 |
| Sales 2012 (apprx.) | $ 1 Billion | $ 3 Billion |
| Total Profit Shared | $ 800 Thousand | $ 99.3 Million |
| Average Employee Bonus | $ 311 | $ 33,915 |
| Years Bonus Paid | 1 of last 4 years | 79 uninterrupted |
| No Lay-off Record | 1960’s | Since 1948 (possibly 1925) |
Happy New Year
Frank