Six Schwab Guidelines for Running His Business

Sept. 1, 2000

Years ago, Les Schwab outlined the six policies he believes are important in running a business. They are policies he wants to see the company follow far into the future:

1. "I believe that a company should share with those who help the company be successful."

2. "I believe in fairness to all employees, with complete honesty with all employees, and I belive in the open book policy which we follow."

3. "As cold and callous as it may seem, I believe the management and employees must produce or they must be replaced. Ten years of service does not guarantee a lifetime job. The problem with being successful is that you must be successful every day. You can't live on yesterday's record."

4. "I do believe in our trust fund retirement plan, our life insurance, medical, dental, our bonus program and in general good programs for good, deserving people."

6. "I believe in a fair wage. To whom much is given, much will be required."

About the Author

Bob Ulrich

Bob Ulrich was named Modern Tire Dealer editor in August 2000 and retired in January 2020. He joined the magazine in 1985 as assistant editor, and had been responsible for gathering statistical information for MTD's "Facts Issue" since 1993. He won numerous awards for editorial and feature writing, including five gold medals from the International Automotive Media Association. Bob earned a B.A. in English literature from Ohio Northern University and has a law degree from the University of Akron.