Word: polartec
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Dates: during 1996-1996
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...town on the border of New Hampshire and Massachusetts has come to rely on the good heart of one man. While Aaron Feuerstein may not look much like Jimmy Stewart, he is the protagonist of a Christmas story every bit as warming as the Frank Capra movie--or the Polartec fabric made at his Malden Mills...
What brought Malden Mills out of bankruptcy was its research-and-development team, which came up with a revolutionary fabric that was extremely warm, extremely light, quick to dry and easy to dye. Polartec is also ecologically correct because it is essentially made from recycled plastic bottles. Clothing made with Polartec or a fraternal brand name, Synchilla, is sold by such major outdoors clothiers as L.L. Bean, Patagonia, Eastern Mountain Sports and Eddie Bauer, and it accounts for half of Malden's $400 million-plus in 1995 sales...
...employees in full, at a cost of some $1.5 million a week and at an average of $12.50 an hour--already one of the highest textile wages in the world. And even better than his word, Malden Mills was up and running last week at 80% of its Polartec capacity, thanks to round-the-clock salvage work and the purchase of 15 new machines. "I haven't really done anything," says Feuerstein. "I don't deserve credit. Corporate America has made it so that when you behave the way I did, it's abnormal...