Marvin Windows and Doors has been the biggest employer in Warroad, Minnesota for nearly a century. During the housing slump the private company is presumably losing a lot of money, but nonetheless the owners vow not to cut health benefits not layoff a single employee.
This story, described in The New York Times, reveals more than an act of small-town charity.
Company president Susan Marvin says their company is already gaining market share from companies that made cuts:
Ms. Marvin acknowledges that her family’s private company may have more leeway than public counterparts. It has forgone profits for two years to keep everyone employed, for instance. Nonetheless, Ms. Marvin suggests that corporate America could learn a thing or two from Marvin’s approach and long-term outlook.
“You can’t cut your way to prosperity. You can’t grow if you are cutting your lifeblood — and that’s the skills and experience your work force delivers,” she says, adding later: “Today, I think, to a great a degree, I think things have gotten out of balance. We see Wall Street almost punish companies that take the long view.”
