SRC Holdings Corp.

Last updated
SRC Holdings Corporation
TypeRemanufacturing company
IndustryManufacturing
Founded1983
FounderJack Stack and managers from International Harvester
Headquarters
Springfield, Missouri
,
United States
Number of locations
4
ProductsRemanufactured equipment for agriculture, automotive, construction, mining, oil & gas, trucking industries; industrial power units
ServicesLogistics, remanufacturing, kitting & packaging, supply chain, vendor managed inventory
Revenue$400 million [1]
Owner100% employee-owned
Number of employees
2,000 [2]
Parent SRC Holdings
Subsidiaries
  • Springfield ReManufacturing Corp
  • SRC Automotive, Inc.
  • SRC Electrical LLC
  • SRC of Lexington, Inc.
  • SRC Logistics, Inc.
  • The Great Game of Business, Inc.
  • Global Recovery Corp
  • NewStream Enterprises LLC
  • CNH Reman
  • Ceramex North America LL
Website www.srcholdings.com

SRC Holdings Corp (SRC) is an American equipment company based in Springfield, Missouri.

Contents

History

SRC was established in 1983 when 13 employees of International Harvester purchased a part of that company that rebuilt truck engines, [3] with $100,000 of their own money and $8.9 million in loans, with the goal of saving 119 jobs. [4] By 1988, SRC's debt to equity ratio was down to 1.8 to 1, and the business had a value of $43 million. The stock price, $0.10 in 1983, had increased to $13 per share. [5] By 2015, the stock was worth over $199 per share. [6]

SRC founded and invested in more than 60 separate companies that do everything from consulting to packaging to building high-performance engines. Including current joint-ventures SRC's sales are over $600M, with more than 2,000 employees, and has three million square feet (280,000 m2) of manufacturing and warehousing space. [1] [2]

Books

President and CEO Jack Stack has written two books (with Bo Burlingham): The Great Game of Business and A Stake in the Outcome, detailing the business and management techniques practiced and promoted by the company. The Great Game of Business has had 25 printings, has sold over 350,000 copies in 14 languages, and has been cited in over 100 business books. Stack has written a third book in 2020 with Darren Dahl, Change the Game: Saving the American Dream by Closing the Gap Between the Haves and the Have-Nots.

Award

The 2019 Txemi Cantera International Social Economy Prize was awarded by ASLE to SRC and its President, Jack Stack. [7]

Further reading

Related Research Articles

<span class="mw-page-title-main">Red Hat</span> Computing services company

Red Hat, Inc. is an American software company that provides open source software products to enterprises and is a subsidiary of IBM. Founded in 1993, Red Hat has its corporate headquarters in Raleigh, North Carolina, with other offices worldwide.

<span class="mw-page-title-main">Telus</span> Subsidiary of Telus Corp, a Canadian telecommunications company

Telus Communications Inc. (TCI) is the wholly owned principal subsidiary of Telus Corporation, a Canadian national telecommunications company that provides a wide range of telecommunications products and services including internet access, voice, entertainment, healthcare, video, smart home automation and IPTV television. The company is based in the Vancouver, British Columbia, area; it was originally based in Edmonton, Alberta, before its merger with BC Tel in 1999. Telus' wireless division, Telus Mobility, offers UMTS, and LTE-based mobile phone networks. Telus is the incumbent local exchange carrier in British Columbia and Alberta. Telus' primary competitors include Shaw Communications. It also competes in the mobile sector with Shaw Communications, Rogers Communications and Bell Canada. Telus is a member of the British Columbia Technology Industry Association.

<span class="mw-page-title-main">SoftBank Group</span> Japanese investment holding company

SoftBank Group Corp. is a Japanese multinational investment holding company headquartered in Minato, Tokyo which focuses on investment management. The group primarily invests in companies operating in technology that offer goods and services to customers in a multitude of markets and industries ranging from the internet to automation. With over $100 billion in capital at its onset, SoftBank’s Vision Fund is the world's largest technology-focused venture capital fund. Fund investors included sovereign wealth funds from countries in the Middle East.

<span class="mw-page-title-main">Pearson plc</span> British multinational publishing and education company

Pearson plc is a British multinational publishing and education company headquartered in London, England.

GameStop Corp. is an American video game, consumer electronics, and gaming merchandise retailer. The company is headquartered in Grapevine, Texas, and is the largest video game retailer worldwide. As of 28 January 2023, the company operates 4,413 stores including 2,949 in the United States, 216 in Canada, 419 in Australia and 829 in Europe under the GameStop, EB Games, EB Games Australia, Micromania-Zing, ThinkGeek and Zing Pop Culture brands. The company was founded in Dallas in 1984 as Babbage's, and took on its current name in 1999.

A vitality curve is a performance management practice that calls for individuals to be ranked or rated against their coworkers. It is also called stack ranking, forced ranking, and rank and yank. Pioneered by GE's Jack Welch in the 1980s, it has remained controversial. Numerous companies practice it, but mostly covertly to avoid direct criticism.

Open-book management (OBM) is a management phrase coined by John Case of Inc. magazine, who began using the term in 1993. The concept's most visible success has been achieved by Jack Stack and his team at SRC Holdings.

<span class="mw-page-title-main">Bourbon Street Hotel and Casino</span> Hotel and casino in Nevada, United States

Bourbon Street Hotel and Casino was a small hotel and casino near the Las Vegas Strip in Paradise, Nevada. Opening in 1980 as the Shenandoah Hotel, the property was plagued with licensing and financial difficulties from the start. Ownership changed hands several times, with new proprietors often envisioning major renovations or redevelopment, but none of the plans came to fruition. Finally, in 2005, it was bought by Harrah's Entertainment, who closed and demolished it.

<span class="mw-page-title-main">Hero MotoCorp</span> Indian two-wheeler manufacturing company

Hero MotoCorp Limited is an Indian multinational motorcycle and scooter manufacturer headquartered in New Delhi. It is one of the world's largest two-wheeler manufacturer and has a market share of about 46% in the Indian two-wheeler industry. As of 27 May 2021, the market capitalization of the company was ₹59,600 crore.

<span class="mw-page-title-main">Australian News Channel</span>

Australian News Channel Pty Ltd is an Australian privately held subsidiary of News Corp Australia which owns media properties operating in Australia and New Zealand.

<span class="mw-page-title-main">Universal Robina</span> Filipino food and beverage company

Universal Robina Corporation (URC) is a Philippine company based in Quezon City, Philippines. It is one of the largest food and beverage companies in the Philippines.

<span class="mw-page-title-main">Yellow Corporation</span> American freight transportation holding company (1929–2023)

Yellow Corporation was an American transportation holding company headquartered in Nashville, Tennessee. Its subsidiaries included national less than truckload (LTL) carrier YRC Freight; regional LTL carriers New Penn, Holland, and Reddaway; and freight brokerage HNRY Logistics. From 2006 to February 2021, Yellow was known as YRC Worldwide.

Netmarble Corp. is a South Korean mobile game developer. It is South Korea's largest mobile-gaming company which was founded in 2000 by Bang Jun-hyuk.

<span class="mw-page-title-main">Oprah Winfrey Network</span> American pay television network

Oprah Winfrey Network (OWN) is an American multinational basic cable television network which launched on January 1, 2011, effectively replacing the Discovery Health Channel. The OWN is a joint venture between Warner Bros. Discovery and Harpo Studios, conceptualized largely by popular talkshow host, Oprah Winfrey—the name of Harpo Studios is Winfrey’s first name, spelled backwards.

<span class="mw-page-title-main">Askinosie Chocolate</span>

Askinosie Chocolate is a small batch, bean-to-bar chocolate manufacturer based in Springfield, Missouri.

Skillz is an online mobile multiplayer video game competition platform that is integrated into a number of iOS and Android games. The Skillz platform helps developers create franchises by enabling social competition in their games. Skillz has over 14,000 game developers who launched a game integration on the platform. Skillz hosts billions of casual esports tournaments for millions of mobile players worldwide.

Tullis Russell Group is an employee-owned business which specializes in coating and converting a range of paper and filmic products for use in various applications.

The Asociación Empresarial ASLE (ASLE) is a not for profit association that promotes and supports employee-owned companies in the Basque Country (Euskadi), particularly using the sociedad laboral model. The name ASLE derives from ‘Agrupación de Sociedades Laborales De Euskadi’.

Simplyhealth is a provider of health cash plans in the United Kingdom. The scheme is an amalgamation of a number of schemes, with the earliest dating from 1872. Members can claim back cash costs from various services from the NHS or private provision, such as dental care, optical care, prescriptions and physiotherapy, as well as having access to services such as remote telehealth consultations with a general practitioner.

References

  1. 1 2 "Home". ggob.com.
  2. 1 2 "We are SRC". Youtube. September 25, 2015. Archived from the original on 2021-12-12.
  3. ↑ Laird Harrison (April 8, 2002). "We're All the Boss". Time Magazine. Archived from the original on November 3, 2012.
  4. ↑ "The Great Game of Business Story - Short". Youtube. March 17, 2015.[ dead link ]
  5. ↑ Steve Strauss (April 19, 2004). "Ask an Expert: Give employees a stake in your business". USA Today.
  6. ↑ "Our Story". Company website.
  7. ↑ "ASLE entrega el Premio Txemi Cantera a la corporación norteamericana propiedad de sus trabajadores SRC Holdings Corp. y su presidente, Jack Stack". Observatorio Español de la Economía Social (in Spanish). 16 January 2020. Retrieved 15 January 2022.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.