Word: plante
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Dates: during 1990-1999
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...industry embroiled in global competition, Wachner could not foresee a reasonable return on investment soon. Despite the improvements, Hathaway last year lost $5 million on revenues of $43 million. Many apparel makers have closed U.S. factories and/or shifted manufacturing to low-cost offshore havens. Hathaway, in fact, has a plant in Honduras where workers earn a fraction of the average wage of $7.50 an hour at Waterville...
...first time workers at the Hathaway shirt plant in Waterville, Maine, met their boss, Linda Wachner, in August 1994, she introduced herself as "Miss Linda" and showed up wearing a gray sweat suit. Despite the informality, signs of Wachner's clout and wealth were evident, from the Gulfstream jet she arrived in to her heart-shaped, five-carat diamond ring to the coterie of executives who trailed in her wake. It was a retinue befitting the chairman and CEO of Warnaco Group, Inc., Hathaway's parent, primarily a manufacturer of intimate apparel, with sales last year of $916 million...
Late last week Wachner jetted to Maine again. Following a series of protest rallies by employees and a pledge of support for the work force from Hillary Clinton, she completed a plan to keep the plant open while a group of local investors led by two-time Republican Governor John McKernan Jr. scrambles for financing to buy the place. Given the state of the shirt industry, however, Hathaway may be doomed...
...compassionate note. She even pledged that Warnaco would retain an equity stake in Hathaway if necessary to help the local investors swing a deal. Workers applauded the news as their last, best hope. But former Governor McKernan has no experience in apparel and rates his chances of keeping the plant going no better than fifty-fifty. Wachner does have experience. That's why she's getting...
...been hard for KATHIE LEE GIFFORD to stay perky recently. Having recovered from the embarrassing disclosure that her Wal-Mart clothing line was made in Honduran sweatshops, she was told that one item, a faux-antique blouse, was manufactured in a New York City plant where workers were grossly underpaid. Gifford didn't hesitate. She dispatched her husband, TV sports presenter Frank, to hand out envelopes containing $300 each to some of the workers--accompanied by a publicist, natch...