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The Scott Fetzer Company was founded in Cleveland, Ohio by George H. Scott and Carl S. Fetzer. It began in a small machine shop as the George H. Scott Machine Co. in 1914 at 118 Noble Ct. It incorporated as the Scott & Fetzer Machine Co. on November 30, 1917, and moved to a bigger facility near Edgewater at Franklin Avenue and 114th St.
- 1914
- Warren Buffett
- George H. Scott and Carl S. Fetzer
- Origins
- Key Dates
- Change of Ownership in 1986
- Digital Age
- New Millennium
- Principal Subsidiaries
- Further Reading
Scott Fetzer was founded in a barn in 1914 as The Scott & Fetzer Machine Company, a joint effort of George H. Scott and Carl S. Fetzer, who would go on to produce automotive parts. Together, the men built a machinist shop producing tools and dies that became known for their precision. During World War I, the Cleveland-based Scott & Fetzer manufactu...
1914:
1. The Scott & Fetzer Machine Company, a manufacturer of parts and tools, incorporates.
1925:
1. Scott Fetzer releases the Kirby Scott & Fetzer Sanitation System.
1964:
1. An acquisition spree begins.
Up to this point, Scott Fetzer was prospering rather quietly. In the four quarters leading up to December 1984, sales had risen 17 percent and earnings were up 45 percent. In the takeover craze of the 1980s, however, Scott Fetzer could not go unnoticed. Financier Ivan Boesky began accumulating shares of the company before the spring of 1984, when S...
If Scott Fetzer had been an independent company, it would have ranked close to the top of the Fortune 500 in 1990 in terms of return on equity. Despite costs of moving and a small decrease in unit volume, World Book earnings improved. A new Kirby vacuum cleaner was introduced and did very well. However, earnings overall for Kirby did not grow as qu...
On December 31, 2000, Scott Fetzer's CEO and chairman, 76-year-old Ralph E. Schey, retired. Schey was succeeded by Kenneth J. Semelsberger, who had worked closely with Schey as the chief financial officer, group vice-president, and division president for Scott Fetzer. As the U.S. economy slumped after the September 11, 2001, terrorist attacks on th...
The Kirby Company; World Book Inc.; Campbell Hausfeld; Carefree of Colorado; Cleveland Wood Products; Douglas Products; ECM; France; Halex; Kingston; Meriam Instrument; Northland; Powerwinch; Quikut; ScottCare; Scot Laboratories; Stahl; United Consumer Financial Services; Wayne Home Combustion Systems; Wayne Water Systems; Western Enterprises; West...
Bianco, Anthony, "The Warren Buffet You Don't Know," Business Week, July 5, 1999, p. 54. Cahill, Joseph B., "Here's The Pitch," Wall Street Journal, October 4, 1999, p. A1. Dorr, Robert, "Critics Charge Omaha, Neb., Firm's Vacuum Seller with Pressure Tactics," KRTBN Knight-Ridder Tribune Business News, October 12, 1999. Gordon, Evelyn, "Encyclopedi...
In 1985, the Scott Fetzer Company was purchased by Berkshire Hathaway. In the late 1980s, while the World Book sales force had declined, it still had 45,000 door-to-door representatives. For the year 1990, Berkshire Hathaway reported that the business of producing the encyclopedia had generated profits of $32 million.
- Reference encyclopedia
- 22 volumes
- 1917; 106 years ago
The best-known of Scott Fetzer Company's businesses in the mid-1990s included World Book encyclopedias and Kirby vacuum cleaners. Vacuum cleaners were the company's mainstay until it went on an acquisition spree in the 1960s and emerged with 31 businesses. A new CEO later trimmed Scott Fetzer back to concentrate on its core products.
The company was founded by George H. Scott and Carl S. Fetzer in 1914 as a machine shop under the name George H. Scott Machine Co.; the name changed to Scott & Fetzer Machine Co. in 1917 and again in 1919 to Scott & Fetzer Co. In early 1986, Berkshire Hathaway acquired the company for about $400 million. Through its various brands, the company ...
The Scott Fetzer Company’s mission is to make the world a healthier and more beneficial place. With over 22 brands in our US-based system, we are dedicated to providing products and services that help people live more productive lives. With a rich history of integrity and a focus on entrepreneurial endeavors, we offer unparalleled work ...
THE HISTORY OF SCOTT FETZER COMPANY. Our parent, The Scott Fetzer Company, began as a machine shop in 1914 in Cleveland, Ohio, founded by George Scott and Carl Fetzer. In the 1960s, it began a program of expansion and acquisition. Today, Scott Fetzer is a diversified manufacturer and marketer of high quality products for the home, family, and ...
