One person you need to hear about though is 78 year old, Aaron Feuerstein, CEO of MALDEN MILLS, INC. Mr. Feuerstein did not steal billions like his counterparts from stockholders or employees, instead he gave millions to do the right thing.
Mr. Feuerstein's family has managed and controlled MALDEN MILLS for 96 years. It is one of the few remaining cloth/fabric mills in the country. Years ago, when mills left and right were closing because huge corporations were setting up manufacturing facilities overseas to save millions in payroll, Feuerstein's family kept the plant and 1,200 employees employed. But that isn't what makes Feuerstein stand out from the rest of CEO's in this country.
In December, 1995, right before Christmas, a fire totally destroyed the company. The office buildings and plant had to be rebuilt at a cost of over $400 million. Most corporations would have laid off its' employees and sent them home with a two weeks severance pay. Feuerstein could have simply taken the insurance money and retired a multi-multi-millionaire. However, Feuerstein would not hear of that. Feuerstein plans to live to be a 120 and get the company back on its feet well before that. What was the the right thing he did you ask?
At the cost of millions, Feuerstein kept all 3,000 employees on the payroll as the new plant and office buildings were being built. Both took a year to build. Now, keep in mind, there was no cloth the company could sell to wholesalers. There were no revenues coming in. Everything was destroyed.
However, in November of last year, the company had to file for bankruptcy. During the time that the plant was being built, overseas operations took advantage of the situation and took business away from them. Feuerstein has recently been granted reorganization to save his family's 96 year old company. Malden Mills invented and is known for the Polartec material/cloth fabric that is used sweaters, blankets and recently, military clothing for cold climates. Besides being sold in LL Bean and Lands Ends stores, it is in other department stores as well. If you store does not have any of this clothing made of this fabric, tell them to order it! I'm sure you have seen this material. It is super warm, yet very light weight. So, let's show Mr. Feuerstein the right thing now. If you care to help his giant of a man among humanity, please send a donation, even if it just a few dollars to help this man save his company. This is the least we can do for someone who did not have to do what he did. He did it though because it was the right thing to do as he said. Do you see any other corporations doing this? NO! In addition, look for clothing or bed products made with Polartec, but make sure it says Malden Mills though on the label. The company failed to file a patent on the invention of this material, and now overseas operators are copying it. This material from overseas is not of the same quality that Malden Mills manufactures. Besides, Americans need to start buying products MADE IN THE USA! You can send your donations and contact Mr. Feuerstein at: Mr. Aaron Feuerstein
( Please drop him a note also and applaud him! )
President and CEO
Malden Mills
48 Stafford Street
Lawrence MA, 01841
If you know of someone you would like to nominate for this recognization here on my website, then email me David Lawrence Dewey
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