During his four-year tenure, Lockhart tripled General Signal's net profit and earnings. He did that by splitting the company into three pieces, which boosted its stock price. A company that can deliver on all three will thrive beyond expectations. And bigger is better. But just being big isn't our objective.
Mergers are a possibility.
It's also appropriate that the company filed for bankruptcy protection during the holiday season, Melvin said. It goes a long way in relieving employees' anxiety and restoring some sense of holiday cheer. It takes out a sense of uncertainty, which can be poisonous to a workplace. The most important step for Armstrong now is to continue to make and sell product. The company's reorganization will undoubtedly include an improvement in production processes, he said.