Gearing Up To Survive The Recession
Thursday, May 21, 2009
Posted May 21, 2009 @ 12:20 PM
Meanwhile, the importance of reinvesting in your company was the message at a business luncheon at Rockford College today. Fred Young, President of Forest City Gear...spoke to a group of business leaders about some of the keys to his manufacturing success over the last 50 years. Young says reinvesting in the company and its products is a big reason behind its longevity.
"If you don't do this and a lot of companies don't you wake up one day and they've been taking money out of their assets and one day they wake up and find they have a hollow shell a dinosaur that's worth nothing but by reinvesting you ensure your future you guarantee you will be productive and have high quality."
Forest City makes Gears for a wide variety of industries including Aerospace, Military and transportation. The company has been in business in the stateline for more than 50 years.
This story appeared at http://www.wifr.com/news/headlines/44497082.html on May 6, 2009.