Very few women have ever held the post of the head of one of the five hundred companies in the rating of the magazine "Fortune", while Linda Vachner exercised sovereign control and occupied a dominant position in such a company.Vachner amended the company with a century of experience, using his determination, perseverance, and a unique combination of determination and energy.Starting as Buyer underwear, she reached the top of a career, and was named by Fortune magazine in 1992, the most prosperous business woman in America.She had a dream, and she worked hard to implement it.She swept many in its path, and most of these people never learned what caused their collapse.
PERSONAL HISTORY OF LIFE
Linda Joy Vachner born February 3, 1946 an elderly couple who lived in Forest Hills, New York.Her father, Herman, was a fur trader in New York, her mother, Shirley, was a housewife.Linda was the second child in the family, but was brought up as an only child, because her sister was eighteen years older and lived separately.Linda was born during the baby boom and grew up loving and forgiving parents of many children of the fifties.She recalls that his parents began to treat her as an adult very early.Linda Vachner occupied a central position in the family, and her parents, Jews by nationality, raised in her a priceless gift - self-esteem.Position the only child of elderly parents Linda forced to spend large amounts of time alone or in the community of adults.As a result, it has evolved into an independent person who is not accustomed to rely on the moral support of anyone else.
Parents Linda brought her daughter to the great esteem that often told her how wonderful she is and that she just can not make a mistake.She believed that, by the time she left for college, their role, according to Linda, have radically changed: "I began to support them, I always support them."
Vachner when Linda was eleven years old, one of my classmates at school yanked out from under her chair.This incident changed her life."As a result of this accident, I needed an operation to adjust the spine, and I remained in a cast up to thirteen years."After Linda Vachner discharged from the hospital, she remained motionless for two more years.She recalls: "I was terribly lonely, I had nothing to do but think about the future, not knowing there will come if it. Sometimes when I'm very tired, I still see a counterweight over his head" ("Working Woman", 1992).
Vachner was energetic person since childhood.She finished high school at sixteen and enrolled in State College in Buffalo, where she specialized in the field of business administration. Vachner attitude towards work was shown during his studies, when she was working in a New York department store during the holidays.She recalls: "I worked there as a clerk in each of the departments, which laid the foundation for my future career." Vachner was more active in community work than in college.She also worked as a curator at the exams, was sorting papers, working in the office of the dean.Vachner played tennis and skied, who passionately loved all my life.Linda graduated from college with a bachelor's degree in 1966 at the age of twenty years and started his career in the retail clothing industry products.
professional career
Vachner start with the same, why are becoming creative geniuses, that is, from the ground up.It took a buyer in a trade organization in New York for $ 90 a week. Her first post - the representative market research - and in fact just an errand girl, the language of business management.One of the first tasks was to study Linda regular customers on one of the floors of the department store .It was an invaluable experience that she will never forget, as she watched the main action, a critical time of purchase.This practice is reflected in Linda, and later she always insisted on feedback from each control on each floor of the department store.The first work Linda has perfected the technique of customer survey and learned to recognize what product sells well today and why: "What do you want to buy today? Why?", "Why did you buy this dress?", "What would you prefer to buy?"- and so on.
Vachner flew halfway across the country to get to the opening of the store Houston Foley in 1967 and be there as an assistant buyer.Again, she spent much time studying the floors of the department store and find out what people are buying;and gradually improve your experience of an expert on consumer demand over the next year and a half. Company "Macy's" hired Vachner 1969 Buyer bras and corsets , and she went back to New York.Reputation Linda Vachner as "Women on Wheels" has strengthened, as it has never hesitated to accept a new job.Distance and time are not frightened by it, because it helps to approach his goal.At the age of twenty-two years Linda was one of the youngest chief Buyer store "Macy's" on 34th Street in Manhattan.Vachner became an expert in the production of garments for five years in the "Macy's" from 1969 to 1974.
Working in the "Macy's" Linda met her future husband Seymour Appelbaum during a flight from Miami to New York.He was playing cards with himself across the aisle from her, and at some point, Linda, true to his inimitable style, said: "This is not a card!"Seymour Applebaum ignored her remark - as it later turned out, she did not understand anything in this game.But thanks to this phrase was an acquaintance, which ended with the wedding.Appelbaum Vachner became a mentor, and she still talks about it with extraordinary reverence: "My husband was the first one who told me that I could achieve anything, any goal. I think about it and believe him."
Appelbaum encouraged Vachner desire to make a career, and in 1974 she went to work in the company "Warnaco", where she worked for three years until 1977.Vachner first destroyed the prejudices about the position of women in business, and in 1975 was appointed the first female vice president in the entire history of the company's centenary.But the president "Warnaco" she said, when she gets a boost, "You have advanced in the service, but you should not expect anything more" ("Working Woman", 1992).He subtly hinted Vachner that she, being a symbol of female executives will not get promoted further.But this kind of statement was not Vachner.Eleven years later, it is revenge, becoming the owner and manager of the company in a competitive environment.
in "Warnaco" Vachner met Mary Wells, the chairman of the advertising companies that manage their own account of the company "Warner".Wells has gone from a simple typist to the heights of Madison Avenue ,.She was a bright, tough and assertive, these same traits were peculiar and Vachner.Wells became a mentor Vachner in the business world, and Linda remembers her as a ray of light in my life: "She was one of the first who believed in me."Linda Wells presented Vachner David Mahoney, chairman of the "Norton Simon", the founder of "Max Factor".In 1979, Mahoney offered thirty-three Vachner president in the American branch of the company "Max Factor", having its headquarters in Los Angeles.Linda was extremely young to engage in important leadership positions in the company with a multimillion-dollar capital, especially taking into account that Vachner had no experience of the presidency.This post Vachner served as the key to realize the dream.She believed that it was a real breakthrough in the world of business as a significant person.Vachner said: "Many people have given me help. But David Mahoney made me president of the firm" Max Factor ", and it was the biggest breakthrough
have Bitko firm" Max Factor "were a year about 16 million dollars, and the staffthe company is a "company of the good old boys". Vachner able to stop the decline in the first year of operation, and the second - to reduce loss of $ 5 million. In the next two years Vachner committed feat changing trend of growing losses to increase profits. The company introduced a newfragrance "Le Jardin" from the "Max Factor", which received three awards in 1984. Vachner achieved this with a series of changes in the management system, as well as by nature: stubbornness and development of the instinct of self-preservation. Vachner became known as the "Woman-ax"because of the mass cleaning staff of the company to destroy the spirit of" good old boys club ".
It was while working in" Max Factor "Linda Vachner began using his principle in management," Do it now. " She believes that every leader needs to be a kind of diary, like a schoolboy, to record problems and new opportunities.
E e principle of "do it now" became the motto of the company and is written on the memorial boards in all offices. Bill Finklsteyn inspector in the firm "Max Factor", said of her style: "Work Vachner as a starter for everyone else."While working in "Max Factor" Vachner gained a reputation for hard-defining task and meticulously controlling everything.Vachner not afraid that it will be regarded as self-absorbed and insensitive to personal criticism.Some called her talent, the other - the worst manager ever encountered them.One person who was a victim of her management style, said: "It has many of the features of the hard male leader."Another said: "Whether it offends people? Yes. But they do it and respect! It is first and foremost a leader, not a man or a woman" ("Fortune", 1992).
Other characteristics of women managers are not as soft.Here is one: "She knows the business inside and out, but she was impatient and cruel."It sounds like the characterization of strict male leader.
Here is what she Vachner about his work in "Max Factor": "If you need to fundamentally change the company in order to save it from total collapse, you have to become a tough but fair" .Not everyone thinks so, especially the "good old boys" from which the dust is flying during the tumultuous break-up of the control system.Style Vachner - exclusive total control.She was interested in the results.If they do not meet its requirements, the employee responsible for it, subject to immediate dismissal.
Jobs "Max Factor" gave Vachner experience necessary to attract capital for transactions required to establish his own company, which in the end was her purpose in life. Vachner cherished dream of becoming the head of his own company, and in 1984 the dream came true. Vachner in "Max Factor" received a "green light" to the increase in working capital for the purchase of the company.But the board was shocked by what she took for this $ 280 million from the account of an investment firm in New York.And he changed his mind on this issue.Vachner resigned.She decided to make this operation on their own by buying a controlling stake.
In total Vachner and another investment firm invested 905 million dollars to buy a controlling stake in the company "Revlon".The transaction was actually completed, when Ronald Pelmo, head of the firm "Pantry Pride", was ahead of them and bought the "Revlon" for 1.8 billion dollars.But Vachner, however, did not back down.She convinced the investment banking firm "Drexel Burnum Lambert" to help her buy "Warnaco".It was a company that had existed for over 100 years, and have worked there Vachner.So she became vice-president.She managed to take over a controlling stake of the company for 550 million dollars, 500 of them - to repay the debt of the company.It was not a hasty step.No one could ever be accused of timidity in Vachner.
Such purchase was unprecedented - the first time a controlling stake in the company, a member of the 500 biggest companies on the list of the magazine "Fortune" was purchased by a woman.It was pretty risky.Vachner parlayed all that she had - ten million dollars for the purchase of 770,000 shares of the company with pre-prepared contract to purchase another 1.3 million shares in the future at a price of $ 4.66 per share.When Christine Donahue from the magazine "Ms."Vachner asked about her decision to buy shares in "Warnaco", Linda said to her: "I risked everything they had, because they had to buy the company. I put my money into the pipeline."Then she added: "This proved that I have the right to go back home."
Vachner bought full ownership of the company has increased its production by 30 per cent, 145 per cent of income and reduce the debt by 40 percent over the next five years of leadership.In October 1991, she again bought the shares at a price of $ 25 per share, after which they rate rose to 35 dollars.As a result, this venture has brought Vachner income.She risked all their savings, which accounted for 10 percent of the capital invested.In 1993, its revenue increased to $ 100 million.Linda got in "Warnaco" $ 3 million a year - the result of the fact that she continued to use his magical style of work.She had no family, and without much grief she acknowledged that the company - it is her family.When the "Cosmopolitan" in 1992, asked her about his personal life, Vachner said: "It would be difficult to meet someone who understands that in the first place for me is business."
Vachner became the guardian angel of production "Warnaso" and personnel.Activities "Warnaco" consisted of the production of linen - 60% of the income of the company, clothing for men - 32% and a few retail stores - the remaining 8%.Lines of the production of linen are easily recognized as it includes clothes from such firms as "Valentino", "Scaasi", "Ungaro", "Bob Mackie", "Blanche", "Fruit of the Loom", as well as lingerie from "Warner & amp; Olga ".Lines for the production of men's clothing made clothes from the "Christian Dior", jackets "Hathaway", "Chaps", sportswear "Golden Bear" (Jack Nicklaus), "Puritan" and "Valentino".The company produces clothing for private firms, such as "Victoria's Secret", in the amount of $ 30 million per year, in addition to the production contract with "Wat-Mart" (the production of cheaper clothes consumer).
Vachner has achieved its goal.She led the companies included in the rating of the magazine "Fortune", while still quite young - 45 years old.Now she is - one of the three outstanding women ever headed the firm and ever identified in the rating of "500 Companies".Others - a Mary Kay Ash ("Mary Kay Cosmetics") and Katherine Graham ("Washington Post"), who held the same position.The next target was to get Linda Vachner affordable prices for their clothes, "so that it can be bought as well as you can buy a Coke."This desire is difficult to fulfill, but decent work.And shareholders Linda Vachner love her style because she never avoids talking about what's really important - the profit after tax.When Vachner was a little girl, encased in plaster, she promised herself that one day will pass through the bridge Triborough not by ambulance, but on his own Cadillac.She lived to see how to fulfill his promise.
Now, if she wanted, she could buy a company producing limousines.
Vachner - a classic example of "pathological control" because it is necessary for complete peace of mind control everything that happens around. happened that loneliness and insecurity in childhood resulted in an unquenchable desire to succeed.Her self-esteem is inextricably linked to success in the business world.She is obsessed with the idea to win at any cost, and confirms the classic "disease rate", which is inherent in this type of personality.The rapid pace of speech, speed, speed, and even the food.Calmness is not inherent Vachner.It is difficult to keep constant attention to the conversation she had a short, especially when it comes to the negligence of any of his subordinates.Vachner - a person who feels guilty if going on vacation or even just watching TV.It combines the movie from the study of the business magazine, and sunbathing on the beach working on a firm budget.
Vachner not tolerate mediocrity or negligence of someone else's work and it seems that it is in a hurry, even when sitting still.
Vachner tried to work in the office, but her inimitable style was difficult to leave the office at all.She says: "I do not take work home, I stay in the office until the end ... The problem is that sometimes I do not go away from the office." Vachner not like small talk and avoid useless talk.Like other prominent figures Vachner obsessed always win.Success for her - not a game.Many men with type character Vachner belonged to the category leaders by vocation.
