The Brunswick Corporation (NYSE: BC), formerly known as the Brunswick-Balke-Collender Company, is a United States-based corporation that has been involved in manufacturing a wide variety of products since 1845. Brunswick's global headquarters is in the northern Chicago suburb of Lake Forest, Illinois. In 2007, it had sales of US$5.671 billion with net earnings of $111.6 million.
Brunswick was founded by John Moses Brunswick who came to the United States from Switzerland at the age of 15. The J.M. Brunswick Manufacturing Company opened for business on September 15, 1845, in Cincinnati, Ohio. Originally J. M. Brunswick intended his company to be mainly in the business of making carriages, but soon after opening his machine shop, he became fascinated with billiards and decided that making billiard tables would be more lucrative, as the better tables then in use in the United States were imported from England. Brunswick billiard tables were a commercial success, and the business expanded and opened up the first of what would become many branch offices in Chicago, Illinois in 1848.
In 1873, the Brunswick company merged with competitor Great Western Billiard Manufactory owned by Julius Balke to become the Brunswick & Balke Company, incorporated with a capital stock of $275,000. In 1884, another competitor, H.W. Collender Company of New York (founded by Hugh W. Collender), was absorbed to form the Brunswick-Balke-Collender Company (or B.B.C. Company for short[2]) with capital of $1.5 million.
The company expanded into making a number of other products. Large ornate neo-classical style bars for saloons were a popular product. Bowling balls, pins, and equipment led a growing line of sporting equipment. It popularized bowling balls of manufactured materials, vulcanized rubber at first; earlier bowling balls had been solid wood.
In the early 20th century, Brunswick expanded the product line to include such diverse products as toilet seats, automobile tires, and phonographs. In the late 1910s, they introduced a quickly-popular line of disc phonograph records, under the name Brunswick Records. In 1930, Brunswick sold the control of the record company to Warner Brothers and came out with a line of refrigerators.
During World War II, Brunswick-Balke-Collender made small target-drone aircraft for the U.S. military.
Crown Equipment Corporation, one of the world’s leading forklift manufacturers, recently honored 131 employees for their 25 years of service. Honorees from around Ohio, California, Massachusetts and Texas traveled to New Bremen to attend the event.
Crown President Jim Dicke III and Crown Vice President-Human Resources Randy Niekamp presented the awards to the employees during an awards ceremony. During the opening ceremony, Jim Dicke III thanked the honorees for their continued efforts in establishing Crown as a leader in the lift truck industry.
“Crown believes it is the combination of our offerings, service and our employees that allow us to deliver the highest value in the industry,” Niekamp said. “Our dedicated and experienced workforce gives Crown an advantage over other forklift manufacturers.”
While employee turnover remains a critical and costly issue for most corporate leaders, Crown continues its long history of retaining employees. Today, Crown’s 25-year group includes more than 950 members. In addition, Crown’s workforce is uncommon in today’s business community since many Crown employees are second and third generation workers.
“Brunswick’s Dealer Advantage is a completely new way of doing business with our dealers,” said Brunswick Chairman and Chief Executive Officer Dustin E. McCoy. “It is a suite of products and services available to each dealer that stands to reduce their operational expenses, improve their employee retention and enhance the retail customer experience.”
The silver level
Currently, only dealers in the United States are eligible to participate, according to the company. All U.S.-based marine dealerships that are in good standing and carry a Brunswick-owned boat line or Mercury Marine engines qualify at the baseline silver level. There is no cost to participate, and dealers may opt to participate in all or some of the benefits depending on their unique business needs.
Benefits include real estate advisory services, discounted rates on office supplies, credit card processing, wireless phone service, small package freight and more. To improve the retail customer experience, the dealership can utilize competitive retail financing, extended warranties and insurance offerings in-house, Brunswick stated.
The gold level
To reach the gold level, a dealership can qualify one of two ways. A dealership that carries one or more Brunswick boat brands must be able to demonstrate that at least 50 percent of its boat sales are Brunswick boats to achieve gold status. Dealerships that sell Mercury Marine engines can achieve gold status if a minimum of 50 percent of its outboard engine sales are Mercury Marine power, and if a minimum of 75 percent of its sterndrive or inboard engine sales are MerCruiser power.
At the gold level, benefits expand to include access to workers’ compensation insurance programs, payroll processing, property insurance, retirement plans and even college scholarships for dealership employees’ children who qualify.
Going platinum
To achieve platinum status, boat dealership sales must reflect a minimum of 75 percent of its retail business dedicated to Brunswick boats. To achieve the platinum level in engine sales, dealerships must show that a minimum of 75 percent of its outboard engines sales are Mercury Marine engines and at least 90 percent of its sterndrive/inboard business is MerCruiser product.
Additionally, effective in the 2008 model year, participating boat and engine dealerships must show proof of certification in a Brunswick marine certification program.
Beginning with model year 2008, dealers achieving the platinum level will have the opportunity to explore multiple-year agreements with their Brunswick brand partners. Brunswick’s Dealer Advisory Council identified multiple-year agreements as an essential tool for strategic planning and dealer success, according to the company.
“Dealer Advantage is designed to reward all Brunswick dealers and to give them, their employees and their retail customers more benefits as our partnership grows,” said McCoy. “Our goal is to create deep and long lasting business relationships with our dealers because their success directly influences Brunswick’s success.”
Employee share ownership plans, also known as ESOPs, have been popularized by the
success realized by technology firms such as Microsoft and Cisco Systems in that the
implementation of stock option plans has resulted in great personal wealth for the early
employees of these companies. ESOPs however represent much more than a scheme whereby
high tech employees can expect to get rich quickly off their stock options. These plans represent
a means for a given enterprise’s various stakeholder groups to mutually benefit and generate
lasting wealth, not only for the individuals associated with the company, but also for the region
in which it is located.
From the perspective of a given firm, the benefits of an ESOP include:
• Use as a tool to attract and retain key or skilled employees;
• Creation of an ownership mentality among employees;
• The recognition and valuation of the contribution of employees;
• Productivity and competitiveness boosts;
• Use as a potential exit strategy for owners; and
• Lower the expectation for a company pension plan.
From the perspective of an employee, the benefits of an ESOP include:
• Ability to directly share in the success of the enterprise;
• Representation of worth to the employer;
• The potential for significant tax savings upon share disposal; and
• Instillation of pride due to ownership mentality and job satisfaction.
From a broader social perspective ESOPs also provide value in that they
• Represent an opportunity for relative advantage within an increasingly competitive global
economy;
• Compatible with the trend toward broad-based stock ownership;
• Have the potential to create long-term, capital-based wealth among employees;
• Represent a tangible solution in narrowing the ever increasing real wage gap; and
• Provide an alternative to government-sponsored/-provided retirement plans.
The benefits and past successes of such plans are apparent but the implementation of an
ESOP should not be interpreted as an instant guarantee of success. Significant care must be
taken to ensure that an established plan meets both corporate objectives and the needs of the
employees.
The consensus is that ESOPs tend to foster a corporate culture where a motivated work force
sees the benefits in sharing ideas, trimming costs and working more productively. A key benefit
to the employer of ESOP implementation is undoubtedly the ability to attract and retain
motivated workers. A key asset for any firm, large or small, is the caliber of its employees with
both the value and knowledge they provide to the enterprise. A broad-based ESOP, specifically
a stock option plan, is often a prerequisite to guaranteeing access to skilled & motivated
employees and a key to retaining these individuals for extended periods.
The productivity and competitiveness benefits are evident from the studies conducted. Some of
the other benefits require further explanation however. From a business financing perspective,
ESOP-adopting firms (particularly start-up and/or high tech firms) are able to develop broad
compensation schemes that enable the companies to save valuable cash and effectively pay
their employees wages either at or below prevailing market rates in exchange for equity in the
company. Most stock option plans also explicitly require a reasonable purchase price on the
part of the employee thus generating another source of capital for a young firm.
From a succession planning perspective, an ESOP can provide great flexibility for privately held
companies. A primary issue facing many business owners is how to retire from and sell a longheld
company. In many cases, the best solution, for a variety of reasons, is to sell out to the
firm’s employees. In this instance an ESOP ensures that an owner can remove his/her money
from the company over time and ensure its continued operations in a fairly seamless manner.
There are many benefits to such a transaction including a close hold on financial information,
the assurance of continued stewardship of the company, lower transaction fees and numerous
tax advantages that may accrue under such mechanisms.
Brunswick was founded by John Moses Brunswick who came to the United States from Switzerland at the age of 15. The J.M. Brunswick Manufacturing Company opened for business on September 15, 1845, in Cincinnati, Ohio. Originally J. M. Brunswick intended his company to be mainly in the business of making carriages, but soon after opening his machine shop, he became fascinated with billiards and decided that making billiard tables would be more lucrative, as the better tables then in use in the United States were imported from England. Brunswick billiard tables were a commercial success, and the business expanded and opened up the first of what would become many branch offices in Chicago, Illinois in 1848.
In 1873, the Brunswick company merged with competitor Great Western Billiard Manufactory owned by Julius Balke to become the Brunswick & Balke Company, incorporated with a capital stock of $275,000. In 1884, another competitor, H.W. Collender Company of New York (founded by Hugh W. Collender), was absorbed to form the Brunswick-Balke-Collender Company (or B.B.C. Company for short[2]) with capital of $1.5 million.
The company expanded into making a number of other products. Large ornate neo-classical style bars for saloons were a popular product. Bowling balls, pins, and equipment led a growing line of sporting equipment. It popularized bowling balls of manufactured materials, vulcanized rubber at first; earlier bowling balls had been solid wood.
In the early 20th century, Brunswick expanded the product line to include such diverse products as toilet seats, automobile tires, and phonographs. In the late 1910s, they introduced a quickly-popular line of disc phonograph records, under the name Brunswick Records. In 1930, Brunswick sold the control of the record company to Warner Brothers and came out with a line of refrigerators.
During World War II, Brunswick-Balke-Collender made small target-drone aircraft for the U.S. military.
Crown Equipment Corporation, one of the world’s leading forklift manufacturers, recently honored 131 employees for their 25 years of service. Honorees from around Ohio, California, Massachusetts and Texas traveled to New Bremen to attend the event.
Crown President Jim Dicke III and Crown Vice President-Human Resources Randy Niekamp presented the awards to the employees during an awards ceremony. During the opening ceremony, Jim Dicke III thanked the honorees for their continued efforts in establishing Crown as a leader in the lift truck industry.
“Crown believes it is the combination of our offerings, service and our employees that allow us to deliver the highest value in the industry,” Niekamp said. “Our dedicated and experienced workforce gives Crown an advantage over other forklift manufacturers.”
While employee turnover remains a critical and costly issue for most corporate leaders, Crown continues its long history of retaining employees. Today, Crown’s 25-year group includes more than 950 members. In addition, Crown’s workforce is uncommon in today’s business community since many Crown employees are second and third generation workers.
“Brunswick’s Dealer Advantage is a completely new way of doing business with our dealers,” said Brunswick Chairman and Chief Executive Officer Dustin E. McCoy. “It is a suite of products and services available to each dealer that stands to reduce their operational expenses, improve their employee retention and enhance the retail customer experience.”
The silver level
Currently, only dealers in the United States are eligible to participate, according to the company. All U.S.-based marine dealerships that are in good standing and carry a Brunswick-owned boat line or Mercury Marine engines qualify at the baseline silver level. There is no cost to participate, and dealers may opt to participate in all or some of the benefits depending on their unique business needs.
Benefits include real estate advisory services, discounted rates on office supplies, credit card processing, wireless phone service, small package freight and more. To improve the retail customer experience, the dealership can utilize competitive retail financing, extended warranties and insurance offerings in-house, Brunswick stated.
The gold level
To reach the gold level, a dealership can qualify one of two ways. A dealership that carries one or more Brunswick boat brands must be able to demonstrate that at least 50 percent of its boat sales are Brunswick boats to achieve gold status. Dealerships that sell Mercury Marine engines can achieve gold status if a minimum of 50 percent of its outboard engine sales are Mercury Marine power, and if a minimum of 75 percent of its sterndrive or inboard engine sales are MerCruiser power.
At the gold level, benefits expand to include access to workers’ compensation insurance programs, payroll processing, property insurance, retirement plans and even college scholarships for dealership employees’ children who qualify.
Going platinum
To achieve platinum status, boat dealership sales must reflect a minimum of 75 percent of its retail business dedicated to Brunswick boats. To achieve the platinum level in engine sales, dealerships must show that a minimum of 75 percent of its outboard engines sales are Mercury Marine engines and at least 90 percent of its sterndrive/inboard business is MerCruiser product.
Additionally, effective in the 2008 model year, participating boat and engine dealerships must show proof of certification in a Brunswick marine certification program.
Beginning with model year 2008, dealers achieving the platinum level will have the opportunity to explore multiple-year agreements with their Brunswick brand partners. Brunswick’s Dealer Advisory Council identified multiple-year agreements as an essential tool for strategic planning and dealer success, according to the company.
“Dealer Advantage is designed to reward all Brunswick dealers and to give them, their employees and their retail customers more benefits as our partnership grows,” said McCoy. “Our goal is to create deep and long lasting business relationships with our dealers because their success directly influences Brunswick’s success.”
Employee share ownership plans, also known as ESOPs, have been popularized by the
success realized by technology firms such as Microsoft and Cisco Systems in that the
implementation of stock option plans has resulted in great personal wealth for the early
employees of these companies. ESOPs however represent much more than a scheme whereby
high tech employees can expect to get rich quickly off their stock options. These plans represent
a means for a given enterprise’s various stakeholder groups to mutually benefit and generate
lasting wealth, not only for the individuals associated with the company, but also for the region
in which it is located.
From the perspective of a given firm, the benefits of an ESOP include:
• Use as a tool to attract and retain key or skilled employees;
• Creation of an ownership mentality among employees;
• The recognition and valuation of the contribution of employees;
• Productivity and competitiveness boosts;
• Use as a potential exit strategy for owners; and
• Lower the expectation for a company pension plan.
From the perspective of an employee, the benefits of an ESOP include:
• Ability to directly share in the success of the enterprise;
• Representation of worth to the employer;
• The potential for significant tax savings upon share disposal; and
• Instillation of pride due to ownership mentality and job satisfaction.
From a broader social perspective ESOPs also provide value in that they
• Represent an opportunity for relative advantage within an increasingly competitive global
economy;
• Compatible with the trend toward broad-based stock ownership;
• Have the potential to create long-term, capital-based wealth among employees;
• Represent a tangible solution in narrowing the ever increasing real wage gap; and
• Provide an alternative to government-sponsored/-provided retirement plans.
The benefits and past successes of such plans are apparent but the implementation of an
ESOP should not be interpreted as an instant guarantee of success. Significant care must be
taken to ensure that an established plan meets both corporate objectives and the needs of the
employees.
The consensus is that ESOPs tend to foster a corporate culture where a motivated work force
sees the benefits in sharing ideas, trimming costs and working more productively. A key benefit
to the employer of ESOP implementation is undoubtedly the ability to attract and retain
motivated workers. A key asset for any firm, large or small, is the caliber of its employees with
both the value and knowledge they provide to the enterprise. A broad-based ESOP, specifically
a stock option plan, is often a prerequisite to guaranteeing access to skilled & motivated
employees and a key to retaining these individuals for extended periods.
The productivity and competitiveness benefits are evident from the studies conducted. Some of
the other benefits require further explanation however. From a business financing perspective,
ESOP-adopting firms (particularly start-up and/or high tech firms) are able to develop broad
compensation schemes that enable the companies to save valuable cash and effectively pay
their employees wages either at or below prevailing market rates in exchange for equity in the
company. Most stock option plans also explicitly require a reasonable purchase price on the
part of the employee thus generating another source of capital for a young firm.
From a succession planning perspective, an ESOP can provide great flexibility for privately held
companies. A primary issue facing many business owners is how to retire from and sell a longheld
company. In many cases, the best solution, for a variety of reasons, is to sell out to the
firm’s employees. In this instance an ESOP ensures that an owner can remove his/her money
from the company over time and ensure its continued operations in a fairly seamless manner.
There are many benefits to such a transaction including a close hold on financial information,
the assurance of continued stewardship of the company, lower transaction fees and numerous
tax advantages that may accrue under such mechanisms.