Browsing by Author "Shipper, Frank"
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Item MBC Ventures, Inc.: An Employee Stock Ownership Plan with a union partner(2013) Hoffman, Richard C.; Brown, M. O. Jr; Shipper, FrankMBC Ventures, Inc. is a 161 year-old company that is going through both product and organizational transitions. It has left one of its traditional product lines, paint brushes, behind and has developed a new one, solar panels. The organization has gone from being part of a large diversified conglomerate to a small employee-owned company with two distinct product lines. The second product line, solar panels, has been added only recently. The organization has gone from being a product unit within a hierarchically-oriented, large diversified conglomerate to an independent, team-oriented, egalitarian organization. The conglomerate was a publically traded organization; whereas, MBC Ventures is employee owned. The transition to employee ownership would not have been possible without the cooperation and financial assistance of the United Steelworkers union. These transitions that have occurred since 1990 have not been without problems including two major recessions. Currently, the company is doing quite well. This case discusses how the firm has implemented employee ownership and participatory management, and its decision to diversify into a new growth product line. Some financial results are provided.Item SRC Holdings: Winning the game while sharing the prize(2014) Street, Vera L.; Street, Marc D.; Weer, Christy H.; Shipper, FrankSRC Holdings Corporation, formerly Springfield Remanufacturing Corp., is a well-known manufacturing enterprise comprised of numerous companies spread across 12 Business Units engaged in activities ranging from manufacturing to packaging to management consulting and training. However, their primary business expertise and core competency is remanufacturing -- the process of taking used transportation parts, for example, and returning them to their OEM (original equipment manufacturer) specifications. Headquartered in Springfield, Missouri, the SRC story is one of tremendous financial success, virtually from the beginning of the organization in 1983. At that time, a share of stock was worth 10¢; as of 2012, a single share is valued at about $361! But although the company is well-known for its financial record, it is safe to say that it is most famous for its founder and current CEO, Jack Stack, and his insistence on converting his company into an employee-owned firm very early on. The subsequent success of SRC and the role its employee stock ownership plan (ESOP) played in this success is legendary. Thus, it’s not surprising that both the SRC ESOP and Jack Stack play central roles in this case study.