The Charles River Apparel Blog

Core Principles Stand Test of Time

Posted by Walter Lipsett on Nov 19, 2013 10:24:00 AM

Before founding Charles River Apparel, I started my career in 1948, upon graduating college, in my family's business – The Central Steel Supply Co. in Cambridge, MA. At that time, the Central Steel was in serious financial condition. Bankruptcy proceedings were being considered and the fo

ur family owners offered to sign over all ownership to me. At twenty-two years old and having only $1,100 in the bank, what did I have to lose? First off, I contacted our local banker, Mr. Carlson, to arrange a meeting, and I had our accountant prepare me with an up-to-date financial statement. This meeting proved to be the most memorable and important event in all of my 60 years in business. Mr. Carlson gave me a chance and because, as he later told me, I demonstrated four key characteristics that were important to him in making an evaluation of a prospective customer. Since that date, I have adopted the same four standards when interacting with customers, suppliers, advisors and especially employees – work ethic, honesty, sincerity and competence.

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Topics: management, walter lipsett, family business

How to Turn Your Organization Around: Lessons from the 2013 Red Sox

Posted by Barry Lipsett on Nov 12, 2013 7:13:00 PM

We all want our businesses to be successful. We want our customers and employees to happy. We want to be profitable and be a force in the marketplace. So what happens when the goals you set forth aren’t being reached? What can you do as an executive to refocus and re-energize your group and turn your organization around? Just take a page out of the Boston Red Sox’ playbook: They went from last to first in just one season. This year’s championship marks the teams’ first World Series win at Fenway Park since Babe Ruth played there in 1918. I, along with many other avid Sox fans witnessed the teams’ transformation game after game. Watching them has inspired me to craft these clear-cut lessons that you can easily apply to your business or organization:

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Topics: management, red sox, barry lipsett