Word: profiteer
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...month, it processes 15,000 worn-out, grime-encrusted engines and parts. Caterpillar has moved beyond remanufacturing just its own diesel engines and components; 40% of the automotive, truck, rail and marine motors and parts remanufactured in Shrewsbury were originally built by other companies. Fisher calls reman a "nicely profitable business." How profitable? Cat does not break out the figures, but Fisher says the returns are "above average," and Nasr notes that profit margins for some reman goods are double those of new products...
...Hefty profit margins are the main driver of Caterpillar's enthusiasm for remanufacturing and its ongoing expansion into Europe. But reman's practitioners also relish the challenge of giving clapped-out parts new leases on life. "It's all about taking back old stuff in mass quantities and doing something with it," Fisher says. That waste-not ethic is evident on the shop floor of the Shrewsbury complex. Tim Baker, the plant's operations manager, says employees get excited about coming up with new ways to salvage. "Our people are very passionate about not throwing things away," says Baker...
...only is it a handy marketing device--"our cars are tailor-made," BMW's chief executive, Norbert Reithofer, can boast--but it's also profitable. BMW customers, it turns out, often have second thoughts. And when they do, they invariably add ever pricier accouterments. The company says customers change their orders more than 1 million times a year. BMW doesn't break out details of the additional revenue, but given the profit margins on many add-ons, "it's like a big dollop of cream on the cake," says Peter Schmidt, a British-based auto-industry consultant...
...many lease workers in Leipzig is a sore point. Jens Köhler, the workers' main representative in Leipzig, reckons that lease workers receive about two-thirds the monthly pay and fewer benefits than colleagues who are BMW staffers. Calculated on an annual basis, once Christmas bonuses and profit sharing are included, lease workers are paid only about half as much. "It's not right. They're like second-class citizens," Köhler says. IG Metall, for one, is pushing for lease workers to be given a better deal nationally, but so far with little effect...
Cohen, a 1969 graduate of Harvard Business School, co-founded Apax Partners, the first venture capital firm in Britain and is now using his position as co-founder of the not-for-profit Portland Trust to work towards Middle East peace using economic measures...