TDIndustries , founded in 1946, is an American construction and technology company that provides commercial and industrial services such as air conditioning, electrical and plumbing systems primarily through general contractors. They also provide installation of process equipment for customers, operation, maintenance and repair of mechanical and electrical systems, and providing emergency services. The company is based in Dallas, Texas with offices in Fort Worth, Austin, Houston, San Antonio, Phoenix and Denver.
In 2013 the company is included in the Fortune magazine list of "100 Best Places to Work in America". It has been on the list since it was first published in 1998, and in 2005 included in the "100 Best Hall of Fame," Fortune, a list of 22 companies in the US that have appeared on the list each year.
Video TDIndustries
History
Establishments and early years
Founded as Texas Distributors, Inc., the name TDIndustries was created in the early 1980s.
The first board meeting of Texas Distributors, Inc. recorded on February 5, 1946 with Jack Lowe, Sr., his mother, Florence Lowe, and his sister, Julia Lee Greer, present. All three, according to the treatise, "subscribed and agreed to take" two hundred shares in the company with Greer and Jack Lowe each receiving ninety-nine shares and Florence Lowe two shares, all with a face value of one hundred dollars.
Greer, who runs a auto parts business, co-signed a bank loan that provided twenty thousand dollars in initial capital. He also lends the company a new office space for a while in his building in 1820 Canton. The company charter was immediately submitted to the office of the Secretary of State, allowing them to meet again at 2 pm the following day at the Greer building for "the first meeting of the mergers and shareholders and customers."
At that point, ten thousand dollars went to the company and three shareholders voted alone for one year; they held a board meeting called an hour later in which they adopted the law, approved the stock form and made themselves the first officers of the company. With a unanimous vote of three, Lowe became chairman of the board and president of the company. Mrs. Lowe was elected vice president and secretary general of Greer.
The Texas Distributor concentrated on repair work from the start - nothing was distributed at the time because the Texas Distributor had not had a distribution agreement with the manufacturer and because no producers had changed from the war production. The first employees of TD repair or install various heating and cooling systems, including refrigerators, ice cream freezers, fountains, and ceiling fans.
In the fall of 1946, the second half of the twenty thousand dollars arranged in the foundation was advanced to the company, and construction began on a building of eight thousand square feet at 3914 Live Oak. The new facility has large display windows and glass brick towers which, when lit, are designed to make the company's name more visible at night. In the spring, the Texas Distributor has left Greer's supply store on Canton Street.
On December 12, 1946, the board established the Texas Distributor's Plan of Pensions which stipulated that the company would donate a pension amount equivalent to five per cent of the employee's monthly salary. In the second action, Lowe, Fred Addison, Greer, and Jim Pavelka were elected as guardians of the Texas Distributors Profit Sharing Trust, based on six months of vesting, and the company pledged to contribute annually for an amount equal to twenty-five percent. net profit before tax. The money will be invested and credited to each employee based on the amount of his salary. One-third of annual trust contributions can be distributed at Christmas if requested. An employee can raise his accumulated funds after five years, but will lose it if he stops before that time.
Before the end of 1947, Texas Distributors had signed an agreement with Worthington Corporation, to become a distributor of AC equipment.
To increase working capital, Lowe offered to sell his employees a nonvoting share in a company that, at that point, only he, his officers, his aunt and his mother owned. The next shareholder meeting allows the issuance of 217 additional shares worth one hundred dollars per share. The Company agrees to lend its employees money to buy the shares on the understanding that they can repay the loan in installments less than their salary.
Fifteen employees subscribed to 187 shares, and the company's friends promised to buy the remaining thirty shares. The company's capital value more than doubled.
Lack of capital was a recurring problem for the Texas Distributors for most of the 1950s. The company bought the first new service truck. They accept contracts to provide services for all new Kelvinator equipment. TD also leased and serviced drinking fountains, and a cheap refrigerator painting system was developed. The company subsequently signed an agreement to repair the Philco window air conditioning unit and the commercial air conditioning equipment Worthington.
TD started to move to contract. In 1949, General Electric offered TD its heating equipment, and the company began to have dealers and small wholesale businesses.
The Worthington Line was a lucrative arrangement, and in 1950 GE became increasingly dissatisfied with its North Texas distributor and offered the air conditioning path to the Texas Distributor.
Worthington provides more revenue than GE initially, but the manufacturer expects its distributors to handle certain equipment, so doing business with GE means doing more business than TD has ever done. To reach that level, he expanded his wholesale inventory operations with a large dealer network in North Texas.
The dealer should be a salesman who can install and service equipment or soldiers who can sell. TD trains new dealers in how to describe load and draw layout, bookkeeping and management.
In 1952, Texas Distributors and General Electric united coolers of GE stores and furnaces as year-round air conditioning systems for homes. This unit goes into 210 new three-bedroom homes under construction of East Ridge Park. At that time, GE did not have a product designed specifically for home, and when other companies came out with one, the manufacturer and its distributors suffered. Then the resident products that finally arrived a few years later proved to be unsuitable, and the production unit failed regularly.
The friendship between Trammell Crow and Lowe began in 1948, when Texas Distributors installed air conditioning in several Crow buildings on Cole Avenue.
The equity plan
TD's wholesale business grew slowly during the mid-1950s. Except for some short-term bank loans, the Texas Distributor relies on the profits to supply the capital needed for growth. Revenue increases, but net income falls. General Electric opened a new manufacturing plan in Tyler, Texas, and TD is expected to be the recipient of many of the equipment produced there.
A Texas Distributor acquires capital through a program called the General Electricity Equity Financing Plan where the manufacturer offers to finance the growth of its distributor, in exchange for equity in the Texas Distributor. The manufacturer presents a Texas Distributor with two hundred thousand dollars in working capital, half of which is a loan for TD, and the other half is one hundred thousand dollars in a Texas Distributor preferred stock sold to GE, with TD paying dividends for that stock until they can raise enough money for buy it back.
After the terms were approved but before the letters were signed, Lowe showed the plan to his employees. Most of them have shares, but only company officers have voting rights, and they have approved an equity plan.
Tempo Mechanical
Lincoln Properties manages a subsidiary called RCLP - Rockefeller, Crow, Lyle, and Pogue - who do all the mechanical work. Trammell wants TD to take over all the air conditioning, plumbing, and electricity in their apartment business. TD agrees with air conditioning and then pipe. Plumbers, heat and crew formed a separate company in 1967 that served as a trademarked Texas Dealer distributor named Tempo Air Conditioning, Inc. In 1978, Tempo was acquired as a full division of Texas Distributors.
Maps TDIndustries
Awards and acknowledgments
- One of the 100 Best Companies Working For In America published by Fortune magazine. TDIndustries has been on this list every year since its publication, and is one of 15 companies included in the "100 Best Companies to Work for Hall of Fame" Fortune Magazine.
- Top 100 Training Organizations, Training Magazine, 2001, 2002, 2003 and 2004
- National Construction Safety Excellence Award, Related General Contractor, 2000
- Award for Leadership Centered on Principles, Ernst & amp; National Young Entrepreneur of the Year, recognition of Jack Lowe, 2000
- 25 News Record Creator, Record-Recorded Writer Ben Houston, 2000
References
External links
- Official website
- Gavin, Joanne H. & amp; Mason, Richard O. "The Virtuous Organization: The Value of Happiness in the Workplace" (PDF) .
- Cheshire, Ashley (1987). Spirit Partnership: The Stories of Jack Lowe and TDIndustries . Dallas, TX: TDIndustries, Taylor Publishing. ISBNÃ, 0-9619142-0-3.
- "Company Partners". Archived from the original on February 20, 2006 . Retrieved September 11, 2006 .
Source of the article : Wikipedia
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