Jack Stack talks to ReMaTecNews US correspondent Denise Rondini about challenges, what companies need to do to overcome them -- and why he lives by income statements.
SRC Logistics is proud to welcome our newest team member, Scott Frerichs! Frerichs joins our team as the Business Development Manager.
Frerichs graduated from Missouri State University with a Bachelor of Science Degree in Marketing. He brings more than 30 years of professional marketing and management experience and is eager to learn about the services our company offers. With his experience and diverse background, Frerichs is a welcomed addition to the team.
Please join us in welcoming Scott to the SRC family!
Hanoi, Vietnam, Nov. 12, 2017 -- Navistar International Corporation (NYSE: NAV) and Hoang Huy (HOSE: TCH), its distributor in Vietnam, today announced the signing of a memorandum of understanding (MOU) paving the way for the export of up to $1.8 billion in International® truck products into the Vietnamese market over the next ten years. The MOU represents the next phase of an already successful relationship between Navistar, Inc. and Hoang Huy to grow its business in Vietnam over the next decade through the sale of new trucks, used trucks, and service parts.
The signing took place at the Presidential Palace, and was witnessed by the President of the United States Donald Trump and Vietnam President Trần Đại Quang.
"Navistar is bullish about the Vietnamese market and we have established a strong and successful relationship with our partner, Hoang Huy. Working together, our exports of our International brand trucks to Vietnam over the past two years have been phenomenal," said Persio Lisboa, Navistar's executive vice president and chief operating officer. "We are poised to reach new heights in the months and years ahead, as a result of this agreement. We could not have been in this position without the strong support of the U.S. State Department and U.S. Department of Commerce."
Navistar was introduced to Hoang Huy in 2015 via a Gold Key partner search conducted by the U.S. Department of Commerce. The Gold Key service provides U.S. firms seeking foreign business partners with introductions to pre-screened candidates. Hoang Huy has sold more than 7,000 International ProStar® trucks to trucking and logistics companies, capturing fifty percent share of the heavy truck market in Vietnam. The trucks are used to transport merchandise between Vietnam's largest cities and carry export products to neighboring countries.
Navistar also exported 21 new International DuraStar trucks to Vietnam earlier this fall. The medium-duty trucks, which were manufactured at the company's Springfield, Ohio plant, were purchased by the Vietnam government. This sale marked the company's first sale of new trucks into this market.
"I am encouraged by the flexibility and performance of the new trucks and confident they will be enthusiastically received by customers," said Hoang Huy Chairman of Board of Directors Do Huu Ha.
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, proprietary diesel engines, and IC Bus® brand school and commercial buses. An affiliate also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com.
About Hoang Huy
Hoang Huy is currently the leading truck distributor in Vietnam. Hoang Huy is listed on Ho Chi Minh Stock Exchange (HOSE) with Stock symbol TCH. All information is available at www.hoanghuy.vn
On August 15, 2017, Springfield Business Journal Editorial Director Eric Olson interviewed SRC Holdings Corporation CEO Jack Stack live at SBJ's 12 People You Need to Know. During the interview, Jack discussed open-book management, the Great Game of Business, and the changing workforce.
Attending the breakfast interview was Ellen Rohr, author and business consultant, who has been intrigued with Jack's business practices for years. An excerpt of her commentary from Springfield Business Journal can be found below:
Opinion: How to Create a Business of Businesspeople
The Jack Stack Interview
By: Ellen Rohr
I became a fan in the 1990s when I devoured a copy of Jack’s groundbreaking book, “The Great Game of Business.” I had been practicing open-book management. I just didn’t know that it was a thing and that it had a name. Jack, and that book, set me on a sound path of financial transparency and management that has served me – and millions of others – very well.
So, I jumped at the chance to hear him speak. Jack is a humble guy and would probably cringe at being called a celebrity. He is a businessman. His down-to-earth approach to building companies reveals his brilliance and his humanity. I was inspired personally and moved to share some of his wisdom with you. Here is what I gleaned from the interview with SBJ Editorial Director Eric Olson.
• Don’t look for skilled people – build people. Jack doesn’t complain about a labor shortage. Instead, at SRC, they look for creative, helpful ways to let people know the company is a positive force in their communities. They offer fun bring-kids-to-work events to turn children on to cool careers like engineering and forklift operations. They magnetize good people and train them.
• Create businesspeople, not just technicians or skilled laborers. In addition to the skills team members need to do their jobs successfully, SRC requires that all employees learn business skills. They teach everyone how to read and use financial reports, and they share real financial data.
• Offer lifelong career opportunities. Back in the day, employees would stay at one job until retirement. The common belief these days is that those days are over. However, Jack has not given up on the idea that you can create lifelong careers. He suggests you can help people develop better work/life balance if they can settle into a career and commit to a company. Life is less stressful if you are not always looking for a new job.
• You can build a company to last. Jack shared that he and his employee/owners intend for SRC to last for at least 100 years. Over the years, there have been more than 60 companies under the SRC umbrella, all of which are employee-owned in some way.
Jack and team continually and strategically assess the economy and business trends. They are financially conservative and take the long look. They determine which companies they will grow and which to divest. They maintain the cash reserves they need to fund the employee/owners who plan to retire and transition their stock to cash.
However, they don’t have plans to sell the mother ship. SRC is designed to last 100-plus years even though some individual entities will not. The empire continues, while the holdings may change.
• Create a business of businesspeople. Jack stays focused on the ultimate goal at SRC: To create a “business of businesspeople” who think, act and feel like owners. At SRC, they operate with systems and procedures and play a great game. So, Jack allows the people on his team to do their jobs. He says the SRC conglomerate of businesses is a result of encouraging team members to become businesspeople. Once you do, they come up with ways to save money and make money, and before you know it, you are expanding.
Inspired? Me, too. It’s all about the people, people!
Ellen Rohr is an author and business consultant offering profit-building tips, trending business blogs and online workshops at EllenRohr.com. Her books include “Where Did the Money Go?” and “The Bare Bones Weekend Biz Plan.” She can be reached at firstname.lastname@example.org.
For the second year in a row, SRC Logistics was well represented at the Sertoma Oktoberfest Goodwill Games. Two teams went from SRC Logistics
The two-time winning champions are Amy Ramos, Kristin Caudill, Johnnie Mier, and David Bearden.
A new team joined them this year, Eric Rader, Elizabeth Hall, Tricia Roberts, and Andrew Bieler. They took first place in the Tug a War contest.
The Sertoma Oktoberfest Goodwill Games had hundreds of dollars in prizes and donated back to the top three teams to their selected charities.
Congratulations to both teams!
SRC has been awarded the Missouri Association of Manufacturers 2017 "Member of the Year" award at the MAM's 14th annual Summit & Expo in St. Louis on September 27th, Dick Moger, from SRC Holdings, accepted the award on SRC's behalf.
The event provides direct interactive opportunities with manufacturing professionals and opportunities to promote and showcase your products and services. SRC was recognized for their accomplishments in promoting remanufacturing.
About MAM - The Missouri Association of Manufacturers (MAM) is the only organization dedicated solely to representing the interests of manufacturers in Missouri, and its primary purpose is to promote, preserve and advance manufacturing. Founded in 1993, MAM has matured into an influential association advocating for the vital interests of all segments of manufacturing.
To checkout more about the event, view the video below.
SRC is proud to support the mission of Convoy of Hope and its efforts to aid those recently affected by Hurricane Harvey. To show our support, we have made a $25,000 donation to the cause on behalf of the SRC companies and joint ventures.
The amount of destruction Harvey has caused has a huge financial impact on the individuals in its wake. We are honored to be able to aid in a time of tragedy to help individuals and communities rebuild.
Want to donate? You may do so through the Convoy of Hope website.
Want to volunteer? Convoy of Hope has a webpage dedicated to the Hurricane Harvey volunteer system. Visit its site for details.
About Convoy of Hope | Convoy of Hope was founded in 1994 by the Donaldson family. Their inspiration for starting the organization can be traced back to the many people who helped their family after their father, Harold, was killed by a drunk driver in 1969. Today, more than 80 million people have been served throughout the world by Convoy of Hope. We are proud that we work through churches, businesses, government agencies and other nonprofits to provide help and hope to those who are impoverished, hungry and hurting. Learn more at www.convoyofhope.org
Doosan Portable Power has added Roland Machinery’s Bolingbrook, Illinois, branch to its dealer network to carry the company’s line of air compressors, generators and light towers.
Roland Machinery, based in Springfield, Illinois, has 15 locations in addition to its main office spread across Illinois, Indiana, Michigan, Missouri and Wisconsin. The Bolingbrook site covers the Chicago suburban area.
“Roland Machinery has been in business for half a century and understands the needs of heavy construction contractors involved in many different markets,” says Rich Basarich, district manager, Doosan Portable Power. “We look forward to helping them expand this area of their business by providing customers in more counties with access to Doosan Portable Power equipment.”
Roland Machinery also carries equipment from Komatsu, LeeBoy, Sennebogen, Hamm, Vogele, Kleeman and Wirtgen.
Trimble (NASDAQ: TRMB) and CNH Industrial (NYSE: CNHI / MI: CNHI), a global leader in agricultural equipment, announced today that they are enabling wireless connectivity between Trimble® Ag Software and Case IH Advanced Farming Systems (AFS) Connect™ and New Holland Precision Land Management (PLM) Connect telematics platforms in North America. The collaboration enables Trimble and CNH Industrial to integrate their cloud-based software solutions to help farmers make more informed decisions with their farm data.
This new functionality will streamline the flow of data from the cab to the office by giving farmers more accurate field records, eliminating duplicate data entry and a better understanding of their production costs. Data can be accessed from many places, including online, desktop and mobile sources. Farmers can choose to share information with a trusted advisor to assist in creating fertility prescriptions, variable rate irrigation plans or other cost saving strategies.
"Allowing Case IH and New Holland customers to seamlessly transfer their task data into Trimble Ag Software aligns well with Trimble's continued focus on providing a complete solution for growers to manage a mixed fleet of vehicles and implements," said Darren Howie, general manager of Trimble'sAgriculture Business Solutions. "Whether it's planting, application or harvest data, our customers now can import even more valuable information on a timely basis and make decisions based on activities carried out by their Case IH and New Holland precision ag solutions."
Both AFS Connect (Case IH) and PLM Connect (New Holland) are telematics systems designed to transfer data wirelessly, securely and remotely between farm equipment and trusted farm management software, services or advisers.
"Our customers are making the most of their agronomic data and we are making a strong effort to give them extensive options for seamless and secure wireless transferability," said Joe Michaels, senior director of Product Management for CNH Industrial Precision Solutions and Telematics. "This connection to Trimble is yet another major option for our customers who want to move their data securely and quickly in order to make the most of it."
Nearly 150 industry leaders from around the globe came to Rochester, NY for the World Remanufacturing Conference, including SRC Logistics. To check out more about the conference, see the video below.
RACINE, Wis. – CASE Construction Equipment and CNH Industrial donated the use of a skid steer to the 9th Annual Victory Garden Blitz, located in the Greater Milwaukee area. This year, over 300 volunteers installed 514 gardens – achieving a grand total of more than 3,500 gardens for communities throughout Milwaukee since the project’s inception.
Beginning with a group of friends in 2009—who installed 35 raised-bed gardens in a single day—Victory Garden Initiative’s mission focuses on empowering communities to grow their own food and re-establish the relationship between human and food ecology. In 2016, the Initiative built a record-breaking 555 gardens in fifteen days.
CASE and CNH Industrial are one of many partners of the Victory Garden BLITZ. In addition to financial sponsorship of the Initiative, the manufacturer donated the use of an SV300 skid steer for the event.
The nation’s largest garden building event is a huge community effort,” says Eric Anderson, Victory Garden Initiative Community Events Coordinator. “All of the BLITZ volunteers wouldn’t be able to install over 500 gardens in such little time without the skid steer CASE and CNH Industrial provided.”
"Giving back to our communities by way of promoting sustainable farming and local infrastructure improvement is important to CASE Construction and CNH Industrial as a whole," says Athena Campos, senior director - marketing, CASE Construction Equipment. "The Victory Garden Initiative brings people closer together by helping the community grow its own food and reinforces our focus on sustainability.”
Subsidized gardens are made possible with a $160 donation or sponsorship. Each raised bed garden is 4 by 8 feet and includes a full installation, new soil from local composters, and seeds to begin growing.