Empire Glass Co. – Lasting Effects of Corporate Takeovers
The empire glass company, Empire Glass Co., is now sold to a global conglomerate for nearly two billion dollars. This corporate take-over marks the end of a long and unusual story. This short article explores the Empire Glass Company’s origins and the issues that led to the takeover.
The most recent step in the Empire Glass Company’s history is its acquisition by a conglomerate which owns billions of dollars in businesses all over the world. This company controls many companies in financial services, media, commerce, health care, and more.
In terms of its history, the Empire Glass Company is basically a medium-sized manufacturer and exporter that produced glass items for the insurance industry. It was not a large corporation or a publicly traded company.
According to its own literature, the Empire Glass Company was founded in 1903 as Glass & Water. Glass & Water later Harvard case solution changed its name to Empire Glass Co. This company has always emphasized quality. Its motto is “Look, Look Good, Feel Good, Work Good.”
Like most conglomerates, Empire has taken the name “empire” as a symbol of its professionalism. The company employs some sixty people and is located in New York City.
The sale of Empire Glass Co. to a major corporation could represent the last step in the path of the company. These corporations do not seem to be interested in putting its money where its mouth is. They are interested in Empire as a branding opportunity.
That is a major concern for the employees of Empire Glass Co. This company employs individuals who spent their entire careers working for the company. In fact, this company has been around for over eighty years. Now, they will be just another cog in a global conglomerate.
The argument is that there will be little continuity of corporate culture with a corporation which is not internally owned. This is a legitimate concern. The organization can no longer bring about its culture of quality and creativity through its own employees.
In the past, Empire Glass Co. produced only crystal glassware. Today, it produces items such as office desks, desks and cubicles, chairs, computer furniture, computer monitors, televisions, DVD players, and a myriad of other products.
As a result, employees who spent their entire careers working for Empire have been put at risk when the corporation chose to buy the company. Employees will not be given raises, bonuses, or health benefits.
For the workers of Empire Glass Co., it is important to realize that the acquisition will not be an opportunity to remain in business. Instead, they will face increased responsibilities and increased work hours. This means the potential loss of long-term employment.
New careers in fields like media, advertising, advertising mediation, management, or technology will be hard to find. This situation will be bad for employees who have spent their entire careers at Empire. In addition, the influence of Empire Glass Co. on the production of many other firms in the market will also be lost.