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Lew Hodgett[_6_] Lew Hodgett[_6_] is offline
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Default Harbor Fright Down Grades Quality Again


"Bill" wrote:
I'm sure any gains achieved by the changes to procedures will be
passed along to the consumer too. Thanks! Maybe we should compare
the relative EPS?

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Check out a book by James F Lincoln called "Incentive Management".

Written in the 1930's, describes management practices used by Lincoln
Electric to be completive and still be profitable.

One of Lincoln's basic theorems involved cost savings.

Any cost savings derived from a process improvement was to be shared
3 ways. 1/3 to the customer, 1/3 to the employees and 1/3 to the
company.

Lincoln's annual Christmas bonus program was infamous for it's secrecy
but
bonus amounts greater than one's annual salary were reported.

The point is that the customer shared the wealth of cost reductions.

Lew