Owens Corning Leaving Dark Days Of 2002 Bankruptcy Case Behind

Two years into Owens Corning's bankruptcy case in 2002, a malaise had set in at the firm's Cesar Pelli-designed headquarters on Toledo's downtown riverfront.

Employees were angry about huge losses in their retirement savings account following the collapse of company stock; no one knew if their jobs were secure; executives were worried about who would own the firm after Chapter 11 and whether OC would remain intact.

"While we were asking those questions ...we kind of lost focus on our customers and our markets and our results slid for a couple of years," Dave Brown, the firm's chief executive officer, told The Blade.

Recognizing they had to do something to boost morale, officials settled on a new message that encouraged the company's 20,000 employees to set aside those concerns and focus on what they could do to chart their own destiny and that of the firm.

Whether because of that shift in emphasis or simply good fortune, things began to improve.

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600450 Owens Corning Leaving Dark Days Of 2002 Bankruptcy Case Behind glassonweb.com
Date: 3 November 2006
Source: Toledoblade.com

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