Kickstart: Mack hands out hefty bonuses for its anniversary

There are company bonuses, and then there's the bonus injection molder Mack Group Inc. is paying employees to mark its 100th anniversary.

The Arlington, Vt.-based company is paying a total of $15 million to employees, with individuals receiving between $5,000 and $15,000 based on their tenure.

This wasn't thanks to an unexpected business windfall. The company said in an Oct. 16 news release that it has been putting aside money for the last 25 years to fund the bonus.

"After all, Mack co-workers have gone the extra mile for Mack, it is now Mack's turn to go the extra mile for its people," President and CEO Don Kendall said.

It's not the first time Mack has rewarded its employees. In 1995 for its 75th anniversary, it flew all of its employees and their families to Disney World for a four-day trip to celebrate its anniversary.

A custom molder with a big presence in the medical industry, Mack has 2,000 employees in eight locations. With nearly $500 million in annual sales, Mack is No. 17 in Plastics News' most recent ranking of North American injection molders.

The National Association of Home Builders has canceled its annual convention for 2021, becoming another in a long list of events impacted by COVID-19.

Design & Construction Week, formerly known as the International Builders' Show, had been set for Feb. 9-11 at the Orange County Convention Center in Orlando, Fla. Instead, a virtual event is being planned, starting Feb. 8.

"Out of an abundance of caution and concern for the safety of our exhibitors, attendees and the thousands of on-site workers who support the premier event of the residential construction industry, we feel the only prudent course is to make this year's show a virtual event," NAHB Chairman Chuck Fowke, a custom homebuilder from Tampa, Fla., said in a news release.

The group will now focus on setting a "precedent for the industry" with its virtual event, he says.

The show has been the centerpiece of new product launches, including plastic film for house wrap, developments in windows and siding and as a showcase for composite decks.

We've spoken with consultant Laurie Harbour quite frequently, both because she and her company, Harbour Results Inc., are good sources of information and because she works so closely with smaller firms and mold makers.

Not too many of the big consulting companies pay attention to the granular details of how macroeconomic decisions influence shops that register less than $20 million in annual sales.

This week's print issue of Plastics News includes a story — also available to read here — on her outlook for tooling firms in this pandemic economic reality. (In a nutshell, not great for many of those companies.)

Her biggest recommendation for company leaders? Don't delay in asking for help. It's time to "step up and lead."

If you want to hear more, our sister paper Automotive News talked with Laurie for its daily podcast, Daily Drive, which you can access for free.

It's worth the time.