Page 74 - Gary's Book - Final Copy 7.9.2017_Active

level, their type of degree (technical or non-technical), how they paid for their
education, how long it took to acquire their education, their reason for former job
departures, their accomplishments and their hobbies. Hobbies? Do you know how
important hobbies are? It helped me to evaluate, reassign, and make the individual

and the company into a winning posture. Sales people are not just sales people;
while some are door openers, others are maintainers and still others are goodwill
ambassadors.

Most of these people were improperly assigned, for sure. The analysis created
reassignments, releases, retraining (some were salvageable), and totally different
hiring practices. In eighteen months, our turnover was reduced to 6%, our revenues

went from red to black, and our market share had stabilized.

My actions led the team of three to be recognized by the general manager, and in
the second year, the other two directors reported to me. We all started at $60,000
per year plus a $10,000 bonus. The perks included staying at the best hotels, eating
at the finest restaurants, having home limo pickups, and eating and drinking in
route. This was the Olin culture.

Olin Corporation is a provider of commodity chemicals doing $3B per year and

owns Winchester, a company of firearms and ammunition. Olin’s president/CEO,
Dr. Ray Irani, was the most arrogant and egotistical executive I had ever met, up to
that time, and he placed subordinates with the same management style below him.
When I worked at OWS, he was the highest paid CEO (with all the perks), in the
USA of all the Fortune 500 companies. The Wall Street Journal in April 2010, had

an article on the highest paid CEO’s, and Dr. Irani was the highest between 2004
and 2010. In 2009, he was paid $52.2M, plus he sold restricted stock for $96.5M.
His New York office had a private elevator with a sofa and a bar. All the Olin
companies are under the holding company Brunswick Corporation. It is interesting
to me that my son, Greg, now works for Mercury Marine, which is also held by
Brunswick Corporation.

Shortly after I was assigned to be the director of sales, John Kijak, the director of
technical services, and Curtis Spencer, the director of marketing, were also hired.
We all made the same salary and reported to Jack Sandoval, the general manager.
Shortly thereafter, Jack inherited several million dollars and decided he was
resigning. He was a 17-year Olin employee who had had it with the big corporate

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