Arc Welding Book

I expected to have to vamp quite a bit in this write up on an arc welding book safe, but got so engrossed in the company’s Wikipedia page and impressed by their accomplishments that I’m going to struggle keeping this brief. The book originates from the Lincoln Electric company. It’s business model has been listed as the most studied by the Harvard Business School. Here are a few highlights based on my own preferences: in 1923 they were among the first in the nation to give paid vacations; they were also one of the first to initiate an employee stock ownership plan in 1925; they’ve been awarding annual incentive bonuses since 1934; the Great Depression saw their employees’ wages more than double despite their electrodes going from being sold for $0.16/lb in 1929 to less than $0.06/lb by 1942; in the 1950s, they added a cost of living multiplier, formal merit rating, and guaranteed continuous employment, the latter being put to the test during the 80s recession where their sales dropped 40%. Still, nobody was laid off. That’s my kind of company.