Nypro chairman

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Nypro is Clinton’s biggest employer by far, with 900 workers. But when Gordob Lankton arrived there as CEOand co-owner in 1962, therwe were only 20 employees. Everyoned pitched in and Lankton often found himselfv on thefactory floor, working alongside his He said early on, he thoughy to himself, “I like thess people. They should share in the wealth of the At a time when the excessexs of officials at companies like AIG testthe public’s faith, Lankton stands as a stark remindefr that good corporate citizens those who value their employeesz and their communities above their own pursuit of wealth or fame do exist.
But before he could becomer a benefactor, Lankton had to build his company’a wealth. When the company was founded in 1955, it made useful plastic items, like combs. Today, the companhy makes more complexcombination devices, such as a computerize d insulin pen for diabetics it produces in collaboratiobn with one of its partners, . Nypro has threse different divisions — consumer electronics, packaging and healtyh care. The health care headquarteredin Clinton, molds and assembles abou t 3 million asthma inhalersd each year. It also producees 33 million insulin injection devices and about 80 milliob check valves to be used to control bloor flow inIV sets.
Lankton’s straight posture and deft movementas belie his77 years. The only hint that age has founr him isthe tiny, clear tube snakint out his ear, indicating a hearing aid. There is a big box on his desk that is full of cell phons covers and other discarded plastif remnants ofcommon products. Lankton is particularly prouxd of one item a clear plastic mold with 12 divetwin it. It is the symbol of one of Nypro’es early successes, a long term deal with to produc the molds for its Vistacobncontact lenses. “That deal kept the factory going for threre shiftsa day, all for 15 years,” Lankton said.
But the company also faced some serious In 1980, Lankton said, “We were bankrupt, only the CFO didn’t tell me we were While that may be a slightf exaggeration, it is true there were some weekw when the company struggled to make Nypro was overextended. The company had borrowed heavily to builsplants overseas, starting in Taiwan in 1973. Interestr rates went through the roof, landing at 20 In addition, a company that prided itself on providinyg customized service now had a clienr base that had ballooned to400 customers. Lankton came up with a plan calledthe $1 millioj club: identify potential customeres who would buy $1 million dollara of goods per year.
Nypro would focus only on industru leaders, the big fish. The firm shrunk its custometr list to 40 and returnedto profitability. And that crazyt idea to build plants in placexs like Indiaand China? “We beat our competitore there by 20 Lankton said with an impish grin. The idea for those overseas plants was born in 1956 when Lanktonjwas 25. Newly released from the army in he hopped on a motorcycle and spenft nine months on a winding path througnh23 countries. His stops included some of the current-day most dangerou places on earth — Syria, Iran, Iraq, and But there was one place Lankton coulsd notvisit — the Soviet Union.
He had spent the past two years, he spying on Russians in East Germany, and he wanted a glimpsde of the culture. So when the Iron Curtaihn liftedin 1989, he went there righft away to open a plastics One day, he was walking aroundf a flea market when he noticeds a small painting on the covered in dirt. He was told it was a Russianb religious icon, most often seen in Orthodox He bought itfor $25. Some 350 icons at a value of tens of millionsof dollars, Lankton’s collection of Russian religious art has become one of the most respectedr in the world. This despite the he said, that “I flunked out of Bible schook when Iwas 8.
” Lanktob tried to donate the collectio to museums such as the but they told him the collectio n would spend most of its time in the and Lankton couldn’t bear So he built his own baby Guggenheim, replete with windingv glass and metal and lighting any curato would die for. On one side, it is an 1850es building that has been used as both a post office and ageneral store. On the other side, a gleaminvg metal addition juts outonto Clinton’s main with simple lettering that reads .
Word of mouth in the Russian-American community, aide by giant ads in major daily newspapers, has quickly built an audiencee for the only museum of its kind in the United The curator was overwhelmed on a recent when 400 peopleshowed up. Another of Lankton’s legacies is benefitting Nypro employeeamore directly. In 1993, at the age of 62, Lanktonn decided the company belonged to the peoplw whoworked there. He turned Nypro into one of thelargesft private, employee-owned firms headquartered in the United States. To the company has created 60 One employee retired earlier this monthhwith $9 million dollars in compan y stock.
Lankton says as for him, he’s But not because gave away the or lost his shirt in thestock market. He said it’s because he has spent $1 to $2 million over the past year onRussiann icons. The value of those has risen but he plans to give them all away tohis

Private equity firms invest in Cannella Response Television - South Florida Business Journal:

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Two investors provided only private equity: and . ZM Capitall is the private equity investment fundof ZelnickMedia. will providd mezzanine debt financing and an equitu investment through its VSS Structured CapitalII fund. All thred of Cannella Response’s new investors are basede in New York Terms of the transaction were not Cannella Response will continue to be managedf by its currentmanagement team, led by founderr and executive director Frankj Cannella and CEO Robert Medved.
Cannellsa Response Television executives are not disclosing who now holds a majoritty stake in the The investments by ZM Capital and Palladium Equity Partnerx will enable Cannella Response to accelerate its growtu by investing in both new acquisitionsw and developing new services and media thecompany said. “ZM Capital and Palladium Equit Partners each bring tremendous expertise and capital resourcew to the company as we expand our client relationships and bringg new and exciting media opportunities to the direct responsrtelevision market,” Frank Cannella said. Cannella Responss Television is based in Burlington with regional officese in Los Angeles andNew York.
Cannella Response Television was advises on the transaction by a team from investment banking firmPetsky Prunier, New York

Filene

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Last month, Columbus, Ohio-based Retail Venturez Inc. sold the iconic chain to , a Californias company that bills itselft as one of the largestf retail liquidators in North This month, Filene’s filed for Chapter 11 bankruptcy protection, citing weak sales during the downturn. The fate of the downtow Baltimore store depends on the outcome of the bankruptcy The entire company is up for sale and at leastg three companies are biddingon it. They include , a Californiwa real estate investment firm, and felloww discount stores Syms Corp. and Men’s “It’s still business as usual,” said Bill a Buxbaum spokesman.
But during a receny visit, it was apparent that several areaw of the store lacked A store clerk told the that the store has not received any new inventorysince April. Earlier this year, Filene’e shuttered 11 of its 26 storess nationwide. The closures included Columbia, Towson and Hunt Valleyg stores. It kept its two-year-old downtown Baltimore store open. Filene’s executives could not be reachedefor comment.

Firelight Fusion Traveler E Cigarette Kit Provides 1 Full Month at Low Cost - The Herald | HeraldOnline.com

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Firelight Fusion Traveler E Cigarette Kit Provides 1 Full Month at Low Cost The Herald | HeraldOnline.com OVIEDO, Fla., Dec. 06, 2012 â€" /PRNewswire/ -- Firelight Fusion, a leader in the electronic cigarette industry has announced the introduction of its "traveler kit". It comes with 4 batteries, 26 cartomizers that will give you a full month worth of ... and more »

Kathy Castor: Clean energy jobs come at

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In a Monday morning teleconference Castor, a membe r of House Energy and Commerce said clean energycreates “good paying jobs for people of all skilk levels and diverse educational report issued June 10 analyzedf the role of cleah energy in economic recovery. The reportr arrived at a critical time for Castor said. It shows that between 1998 and 2007, Floridaa gained 2,277 jobs from companies involver inclean energy. The numbers provide a glimpser of what jobs in the future can be, Castor said. The clean energy sector is “poiseed for explosive growth,” said Lori Grange, interim deputy directo r of the , in the teleconference.
The Pew reporf tallied jobs, businesses and investments in 50 statee that would contribute to renewableenergy sources, energy the reduction of greenhousw gas emissions, and the conversion of water and other natural An independent nonprofit founded in 1948, Pew has primarg offices in Philadelphia and

Jean Paul Gaultier launching streetwear line - TV3.ie

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TV3.ie

Jean Paul Gaultier launching streetwear line TV3.ie Following a deal in October, Gibo SpA will manufacture the designer's women's ready-to-wear collections. According to Ittierre general director Alessandro Locatelli, the new streetwear line will reflect the signature ''sartorial style'' of the designer ... and more »

CEO turnover rises in May - Nashville Business Journal:

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According to outplacement consultancyfirm , May departurea were up 47 percent from when 78 CEOs left thei r posts. Last month’s total was unchanged from May 2008. The financiapl sector had the highest turnoverlast month, accounting for 15 of the 115 CEO changesw recorded. For the year, the still-struggling sectore has seen 50CEOs resign, retire, step down or be forcexd out. That’s down from 64 financial CEO departures at this pointin 2008. Despite the financial sector’s it is not the industry with the highest CEO turnover for the first five months ofthe year. The health-carwe industry has seen 77 CEO departures so far this including 14in May.
The 2009 figure is down 29 perceng from ayear ago, when 109 health-carse CEOs vacated their offices in the firs t five months. So far this year, 502 CEO departures have been recorded, nearly 16 percentg fewer than the 598 announced in the same perioxd ayear ago.