Anniversaries for me are a time for celebration and recognition, but they are also a time for reflection. So if you would bear with me, I would like to reflect on the past 20 years and what it portends for the future.
In life we make three major decisions:
* The most important is to accept or reject Jesus Christ as our Savior;
* The second is who we choose to marry; and
* The third is what becomes our passion for work and service.
Your first decision determines how you live eternally. The second determines the quality of your family life. The third determines your legacy.
Are we all here by accident tonight? Are the series of decisions that resulted in HUSCO International random events? Or, is the purpose of HUSCO beyond a vision we can effectively articulate?
We all arrived here by different routes, but I would like to review some of the decisions that resulted in my involvement.
Although I was educated as an engineer, I learned quickly that it was neither my passion nor something I was really good at. I went to business school because it seemed the best route to professional success and discovered that I really love business. The challenge of developing strategy that provides a sustainable competitive advantage; the alignment of people and resources; developing an understanding for the forces that drive an industry; the ability to attract the best people; developing relationships, etc. are what generates the fire and energy that motivates the type A “driver – driver” personality that God made me.
As I was finishing business school, I had largely decided to work for Corning Glassworks after a very successful summer internship, but I decided to interview a company called FMC. During my interviews, I met two intriguing people, Jack McKeon and a fellow named Vince Martin.
After receiving attractive job offers, I agonized over who to work for and decided I would work for Vince at FMC. Vince had moved on by the time I reported for work to run a division of FMC, but six years later he hired me once again to work for AMCA International. The Koehring Company acquisition by AMCA brought Vince and me to Milwaukee to try to make sense of a difficult group of businesses during the near depression of the early 1980’s.
In the spring of 1984, I had another major career decision to make: Run strategic planning for AMCA which would have been a major promotion, or take a step down organizationally to run a $15 Million valve manufacturer in Waukesha, Wisconsin. This was actually an easy decision for me as in HUSCO I saw a group of people and a business uniquely compatible with my skills.
For those who question the value of playing golf, you should know that during a golf round with the new President of AMCA, he outlined his major priorities which encouraged me to begin my efforts to buy HUSCO. After being rebuffed the first three times, a series of “coincidences” created the opportunity.
Since I did not have much money to buy HUSCO for the agreed price of $14 Million, I sold and mortgaged all I owned and borrowed money from my family. We bought HUSCO by borrowing 97% of the purchase price, and the 3% of equity invested by the management team was largely used to pay an exorbitant and unanticipated legal bill.
During the next 20 years, a series of choices, several which put the company at risk, have resulted in growing HUSCO from $23 Million sales to almost $250 Million. During that time, we went from 230 employees to almost 1,000. During my stewardship, we have built three new factories and will build a fourth in 2006. We went from 15% international sales to 45%, we established the AG and Automotive Divisions, and we believe we are on the verge of changing the world of off-highway controls by introducing into production the radically new and different INCOVA technology in 2006.
The journey involved many choices, and had they been made differently, HUSCO would not be the same company. These decisions involved responses to major opportunities, capital investments, R&D and most importantly, people. Most of the very strong team I inherited decided to “cash their chips” after our initial successes during the first 5 to 15 years. The decision to hire Jim Gannon, a tax partner from PriceWaterhouse, when HUSCO was a mere $30 Million business was crucial. The decision to recruit at Harvard one time to find Mark Sefcik was critical to our automotive and INCOVA business success. The decision to hire Bob Mortensen after a major misfire has been crucial to our success in China and Whitewater. The decision to hire Todd Zakreski and transfer him to the UK has improved our European operations fundamentally. Many, many other people decisions have helped drive HUSCO’s success.
What I have come to learn is that each decision which resulted in success for HUSCO was aided. A quote which I believe has characterized the new HUSCO is, “Be bold... and mighty forces will come to your aid.” I have come to realize that those mighty forces have been providing me aid my entire life.
From my parents, to a divinely created wife who was made perfect for me, from receiving a last minute fellowship which inspired me to go to Harvard, and on and on, God has always been there as my guide.
The question I ponder is, Why? Why me? Why HUSCO? Why has He put people like Becky, my children and parents, Steve Beam, Judy Dalton, John Cannizzo, Jim Woods, Ricardo Diaz, Don Hackbarth, David Bell and so many others in my life?
I believe the answer is that there is a far greater purpose for HUSCO and all its stakeholders. Our success is no accident, nor is it guaranteed, but I do believe God has provided HUSCO success so this success can be used by all who profit from it to build a better world, and even more importantly, to bring others to Christ.
On the way home from my first mission trip to Central America, I was praying for God to give me a sign. I saw a potential opportunity to help change communities and possibly countries by helping build a large number of Christian schools in Central America, but I wanted confirmation that this is what God wanted me to do. When I opened my eyes and looked out the airplane window, I saw the biggest cross that I have ever seen made by clouds, and I knew God was once again paving the path.
We are on this earth a short time. Each of us has been given gifts by the God who has made us, and each of us is challenged to be stewards of those gifts. All we have belongs to God, and our challenge is very clearly stated in the parable of the ten talents. We will be judged by how we use God’s gifts and for us who have received much, a great deal is expected.
I want to thank each of you for being part of “The Story” which is only beginning to unfold, and may you continue to use your talents to glorify the God who has given us the precious gift of his Son to provide us eternal salvation.
Thank you for being here, merry Christmas, and may God continue to bless and prosper everyone.