Word: kindered
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While Mom works, Kinder-Care plays part-time parent
Today, at 250 locations in and near major cities, the green Holiday Inn marquee and the yellow McDonald's arches have company: the red steeple housing a black plastic nonringing bell, the symbol of Alabama-based Kinder-Care Learning Centers, Inc. By offering a service that is safe, uniform and reasonably priced, it has become the largest network of places where parents can deposit offspring for a few liberating hours...
...Kinder-Care is the prodigy of Perry Mendel, 56, a stocky, effusive former real estate developer whom some call the Colonel Sanders of child care. He opened the first center in Montgomery in 1969, pouring in $15,000 of his own money and $185,000 from assorted investors. The company has spread to 23 states, swamping immature competition (La Petite Academies, with 115 units, is a distant second). Kinder-Care is growing almost daily, and two weeks ago, Mendel announced that his company will acquire for stock Living and Learning Centers. Inc., which now operates 33 centers in New England...
With weekly fees of $28 (in Rome, Ga.) to $42 (in Columbia, Md.) and with 22,000 kids under its wing, Kinder-Care had revenues last year of $12.8 million, up 41% from the year before. Earnings have grown for seven straight years, to $745,180 in 1977; for the first nine months of this fiscal year they were up 65%. Kinder-Care stock, first offered in 1972, jumped from less than $1 in 1976 to $29 last week before a two-for-one split Friday. It has made a million dollars for each of 14 ground-floor investors from...
...some operators predict that the industry will eventually adopt a two-tier approach to bargaining: one for issues on which all members agree, the other for issues on which they are split. For instance, the operators are equally concerned with increasing productivity. Said Madison, W. Va., Mine-owner Herbert Kinder: "Give the operators a stable work force, and the miners could have anything they want." But the owners are divided over the proposed contract's requirement that miners pay up to $200 in deductibles for medical care. Said a small Pennsylvania operator: "The deductibles are tiny, but the miners...