Bald Heads, Doubled Earnings Prevail At Louisiana-Pacific
Jan. 13, 2005
Point shaving has always gotten athletes in trouble. And, it would seem, that profit 'shaving' by a public company would be frowned on by Wall Street. But analysts are overlooking that indiscretion at Louisiana-Pacific Corp. The reason: Top management at ...
Point shaving has always gotten athletes in trouble. And, it would seem, that profit 'shaving' by a public company would be frowned on by Wall Street. But analysts are overlooking that indiscretion at Louisiana-Pacific Corp. The reason: Top management at the company promised workers a new look from the executive team if the Portland building and lumber products company could surpass internal projections and double its fourth-quarter earnings from the previous year's $15 million. That's why chairman and CEO Mark Suwyn and several other top executives are walking around with shaved heads, profits of $34 million, and a stock price that rose almost 44 cents to $12.75 on the announcement Jan. 26 of the earnings increase. The shaved domes -- the locks were shorn at a press conference -- are also a daily reminder to workers that top management does keep its word.
