Monday, April 16, 2018
In my humble opinion....I would love to do a brief pitch on PBS' News Hour IMHO about corporate longevity. Think about it: businesses that are still operating after 100 years have survived world wars, economic depressions and recessions, globalization, technology advances that have obsoleted whole industries, massive changes in legal, social and cultural norms...and yet they thrive. Shouldn't we celebrate them? These are the best of business - companies who care about their customers, employees, business partners, and communities - they wouldn't have survived without their web of support and they know it. Many are family owned, most are small to medium sized businesses. These are they type of companies that form the core of our economy, yet are mostly overlooked in our media and business education. At least 1,000 U.S. companies are over 100 years old (I call them Century Club Companies). Help me highlight these special firms.
Wednesday, March 21, 2018
The year was 1893. The World's Fair opened to the public in Chicago. The crash of the New York Stock Exchange caused the Panic of 1893, triggering an economic depression. And these companies were founded and managed to survive other depressions as well as world wars and many other challenges. Here's to the 14 survivors of 1893!
Capitol Federal Financial, Topeka KS, Banking and finance
Dittrich Furs, Detroit MI, 5th generation, Retail apparel
General Employment Enterprises*, Naperville IL, Employment agency
Green Mountain Inn, Stowe VT, Accommodation services
Henderson Brothers, Pittsburgh PA, Insurance agency
Henry the Hatter, Detroit MI, Retail apparel
The Little Shamrock, San Francisco CA, Restaurant and bar
Modell Financial, New York City NY, Pawn broker, 4th generation
Schroeder's, San Francisco CA, Restaurant and bar
Stewart Information Services*, Houston TX, 5th generation management, Real estate title insurance
Trimpers Rides, Ocean City MD, 4th generation, Amusement park
Vienna Beef, Chicago IL, Food products
West Bancorp*, West Des Moines IA, Banking and finance
ZR Graphics, Zeeland MI, 4th generation, Printing services
* Public company; all others are privately-owned
Monday, March 19, 2018
At least eighteen U.S. companies are celebrating being in business for 120 years in 2018. In 1898 William McKinley was president and the Spanish-American war began. These companies have survived several other wars as well as economic depression, globalization, huge advances in technology, and major changes in legal, social, and cultural norms. Join me in congratulating these amazing firms:
American Nickeloid, Peru IL - Metal products
Bank of England, England AR - Banking & finance
Bank of Gravett, Gravett AR - Banking & finance, 4th generation
Bechtel, San Francisco CA - Construction & engineering, 5th generation
Detroit Store Fixture, Detroit MI - Store fixtures & accessories
Eaton Funeral Home, Sullivan MO - Funeral services
Goodyear Tire & Rubber*, Akron OH - Manufacture tires
International Paper*, Memphis TN - Paper products
J. Elmer Turner Realtors, Dallas TX - Real estate, 5th generation
J Palazzo Son, New Hyde Part NY - Perfume manufacture, 3rd generation
Mosher's Jewelers, Port Huron MI - Retail jeweler, 4th generation
Old Print Shop, New York NY - Retail art, 3rd generation
Rambusch Lighting, Jersey City NJ - Lighting manufacturer, 4th generation
Thomas Publishing, New York City NY - Business information publisher
Vita Food Products, Chicago IL - Seafood & specialty foods
Warnock Furniture, Magnolia AR - Retail furniture, 5th generation
Weldon, Williams & Lick, Fort Smith AR - Printer (tickets)
Worksman Cycles, Ozone Park NY - Bicycle manufacturing
* Publicly traded company (all others are privately-owned)
Thursday, January 25, 2018
Century Club congratulations go out to nine companies founded in 1868 and celebrating 150 years in business this year. All are privately-owned, and six of the nine are generational family businesses. Five are services companies (two banking; one funeral home; one plumbing, heating & A/C; and one photography). Two are retail businesses (a bakery and a paint store); and two are manufacturers (one of building products and one food products). 150 years of continuous operation is an amazing feat - please join me to celebrating the following companies:
Bachrach Photography, New York City, NY (and other locations). Their founder took the only photo of Lincoln's Gettysburg Address and has photographed every U.S. head of state since. 4th generation.
Benjamin Obdyke Inc. Horsham, PA (Philadelphia suburb). A leading supplier of building moisture management products, ridge vents, and rain screens.
Budeke's Paints & Decorating, Baltimore, MD. One of the oldest independent paint retailers in the U.S. now run by 5th generation family.
Citizen's National Bank of Texas, Waxahachie, TX (and 8 other Texas locations). CNB claims to be the third oldest independent bank in Texas. Now run by 4th generation of the Singleton family.
Gorham Savings Bank, Gorham, ME. Commitment to community (one of the 5 key longevity factors exhibited by Century Club companies) is deeply ingrained in this locally owned and operated bank. Their motto: "It's not how big your bank is. It's how much your bank believes in you."
McIlhenny Company, Avery Island, LA. You know them for their Tabasco sauce (longevity factor #2 is having a unique core strength - literally a secret sauce for the McIlhenny's), they are now run by 6th generation family.
Naegelin's Bakery, New Braunfels, TX. Claims to be the oldest continuously operating bakery in Texas, it is now run by 2nd generation Granzin family, who took over from the 3rd generation Naegelins in the 1980s. They they kept the Naegelins' recipes (their secret sauce) and are especially proud of their famous apple strudel.
Proctor Funeral Home, Camden, AR. They don't say much about themselves, but the reviews talk about the "helpful and caring people, especially in a difficult time" and describe it as the best funeral home in the area.
Sieb Plumbing, Heating & Air Conditioning, Monroe, MI. Claiming to be the oldest family-owned plumbing and heating company in the United States, this 5th generation business does residential and commercial projects.
Congratulations to all nine companies - and best wishes for at least another 50 years to celebrate 200 years!
Wednesday, January 17, 2018
The year is 1843. John Tyler was President of the United States (the Vice President post was vacant). Edgar Allan Poe's "The Tell-Tale Heart" is published. The first major wagon train headed for the American Northwest set out in May from Missouri with over 1,000 pioneers. And the John Baumann Safe Company was established in St. Louis. Now in its 5th generation of family ownership and still providing residential, commercial, and automotive locksmith needs in addition to safes and security systems. In line with many other Century Club Companies, they say it is their "personal service, experience, and long-term relationships" that have enabled them to succeed for 175 years.
Another company that began in 1843 and has lasted to celebrate their 175 anniversary in 2018 is Frederick Mutual Insurance Company of Maryland. Before there were insurance companies, communities realized that neighbors needed to band together to protect each other from fire loss. This "mutual" concern and cooperation was the driving force behind the establishment of companies such as Frederick Mutual. By sharing in the protection risk, generations of individuals and businesses are able to insure their homes and businesses. Owned by the policy holders, this unique form of business has enabled Frederick Mutual's survival over the long term. As they state on their website: "Since 1843 the founding principle of our company has been Peace of Mind. We are still here for the benefit of the public and are owned by our policyholders."
Tuesday, January 2, 2018
200 Years: Eaton Funeral Homes, Needham, MA - 6th generation funeral home founded 1818
205 Years: Cooper, Erving and Savage (law firm), Albany, NY - founded by a son of James Fenimore Cooper in 1813
220 Years: Alan McIlvain (Pennsylvania) and J. Gibson McIlvain (Maryland) - 7th generation lumber companies founded by Hugh McIlvain in 1798
Thursday, December 21, 2017
As 2017 comes to a close, it's time to celebrate the companies who turned 100 this year. This is an amazing accomplishment - less than 1/2 of 1% of companies in the U.S. are 100 years or older. Interesting to note, over 92% of the companies hitting the century mark this year are private and 65% are still in the same family: 14 third generation, 16 fourth generation, and one run by 5th generation family.
The largest industry category for these new Century Club members is retail, at 38.5% (including restaurants and bars); 19% manufacturing; 17% services; 5% wholesale; and a few in architecture/construction or transportation.
Here is the list! (Please post a comment if you know a company celebrating 100 years in business in 2017 that is not mentioned here.)
|Acme Group||Bloomfield Hills||MI|
|American Coney Island||Detroit||MI|
|Belair Road Supply||Baltimore||MD|
|Bob Ward's Sports & Outdoors||Missoula||MT|
|Brown's Automotive Group||Patchogue||NY|
|California Cedar Products Co||Stockton||CA|
|Carolina Beverage Corporation||Salisbury||NC|
|Chicago Clock Co||Clarendon Hills||IL|
|Christie's Seafood & Steaks||Houston||TX|
|City Plumbing, Heating & Air Conditioning||Norman||OK|
|Collier Durg Stores||Fayettville||AR|
|Crystal Plaza Group||Livingston||NJ|
|E.W. Smith Insurance Agency||Wyandotte||MI|
|G&L Clothing||Des Moines||IA|
|Goudy Brothers Boiler Company||Kokomo||IN|
|Meloro & Sons||North Arlington||NJ|
|Mrs. Sassard's||North Charleston||SC|
|RMX Freight Systems||Roseville||OH|
|San Antonio Winery||Los Angeles||CA|
|Stanco Metal Products||Grand Haven||MI|
|Sunsweet Growers||Yuba City||CA|
|Todaro Bros.||New York City||NY|
|Vinson & Elkins||Houston||TX|
|Wm. Miller's Sons||Allison Park||PA|
|Wolverine Mutual Insurance||Dowagiac||MI|