There’s an article today in the NY Times on how Sweden is mass-producing modular homes building on the model promoted by former HUD Secretary George Romney in the 1970s.
George Romney first came to the public’s attention as the CEO of automaker AMC.
{{ George W. Romney - Wikipedia
Romney became what automotive writer Joe Sherman termed “a folk hero of the American auto industry”[93] and one of the first high-profile media-savvy business executives. His focus on small cars as a challenge to AMC’s domestic competitors, as well as the foreign-car invasion, was documented in the April 6, 1959, cover story of Time magazine, which concluded that “Romney has brought off singlehanded one of the most remarkable selling jobs in U.S. industry.”[22] A full biography of him was published in 1960;[94] the company’s resurgence made Romney a household name.[95] The Associated Press named Romney its Man of the Year in Industry for four consecutive years, 1958 through 1961.[96]
The company’s stock rose from $7 per share to $90 per share,[30] making Romney a millionaire from stock options.[97] However, whenever he felt his salary and bonus was excessively high for a year, he gave the excess back to the company.[97] After initial wariness, he developed a good relationship with United Automobile Workers leader Walter Reuther,[49] and AMC workers also benefited from a then-novel profit-sharing plan.[98] Romney was one of only a few Michigan corporate chiefs to support passage and implementation of the state Fair Employment Practices Act.[72] }}
Contrast that with the Private Equity career of his progeny.
intercst
