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With a proven track record of effectively restructuring challenged organizations, Eugene Baldino came to Jasco Tools Inc. in 1994. At the request of John Summers, majority shareholder and then CEO of Jasco, Baldino took responsibility for two recent acquisitions in California.
"My methods were new to the Jasco regime," Baldino said. "They were a tough sell at first."
But the results he produced were undeniable. In the first month of his tenure, the two companies generated profits and positive cash flow where previously they had not. Baldino continued to refine the manufacturing process, becoming the lowest-cost producer in the industry and the dominant player in the market. By year three these companies were sold for over seven times their annual cash flow.
With this success as a cornerstone, Baldino quickly took responsibility for the other existing Jasco companies and generated similar financial results. But that was not enough. With a foundation of financial strength and market credibility, plus...