Bob Kierlin modeled the behavior he wanted from employees in other ways. When he asked his employees to watch their expenses, Kierlin was held to the same standard: He capped his salary for 10 years, wore used business suits, and would eat at fast food restaurants after driving to appointments rather than flying. It’s laid out in the book “Leadership in Christian Perspective” by Justin Irving and Mark Strauss.
I assume Kierlin offered his share at an option price, so he was effectively setting a sale price to be realized when the options were exercised. He had, in effect, given away the appreciation value of the shares.
Excellent. Great read and a valuable perspective. You are absolutely correct in pointing out that media love to hype someone mindlessly only to revel like hogs in a slop pit in their demise. One (of many) reasons I stopped consuming them decades ago. This is a very good antidote to the SBF hysteria.
Love this article, and it's a refreshing read after the past week of can-this-debacle-get-even-worse? I didn't know about Fastenal and will read more about the company. Kierlin's approach is a great example of employees first, then customers, then shareholders creating a virtuous cycle. I wonder if there are any employee turnover statistics from that time period.
Bob Kierlin modeled the behavior he wanted from employees in other ways. When he asked his employees to watch their expenses, Kierlin was held to the same standard: He capped his salary for 10 years, wore used business suits, and would eat at fast food restaurants after driving to appointments rather than flying. It’s laid out in the book “Leadership in Christian Perspective” by Justin Irving and Mark Strauss.
thanks for this motivating and positive point of view
Thank you for the interesting read!!
I assume Kierlin offered his share at an option price, so he was effectively setting a sale price to be realized when the options were exercised. He had, in effect, given away the appreciation value of the shares.
Excellent. Great read and a valuable perspective. You are absolutely correct in pointing out that media love to hype someone mindlessly only to revel like hogs in a slop pit in their demise. One (of many) reasons I stopped consuming them decades ago. This is a very good antidote to the SBF hysteria.
Such a pleasant read!!
Thanks for this. I needed that!
Happy Thanksgiving. :)
Love this article, and it's a refreshing read after the past week of can-this-debacle-get-even-worse? I didn't know about Fastenal and will read more about the company. Kierlin's approach is a great example of employees first, then customers, then shareholders creating a virtuous cycle. I wonder if there are any employee turnover statistics from that time period.