The United Technologies Corporation pulled off the impossible, they survived the great recession. Throughout the 2000s, many businesses were closing their doors left and right. Unemployment was on the rise, the housing market had just crumbled, and people were unable to sustain their workers. The change of all of these things brought the demise in bankruptcy of many corporations. One industry that was hit perhaps the hardest was the airline industry.
As the airline industry was hit by this recession companies such as Delta and United Airlines and Southwest Airlines were unable to continue purchasing airline parts from third-party manufacturers. This included United Technologies Corporation which had been one of the most dominant corporations in all of North America. Many business analysts thought that the writing was on the wall for UTC.
UTC was able to get a new chief executive officer, Louis Chenevert, who truly changed everything around. When he arrived the stock price was only $37 a share. By the time he walked out, it was at $117 a share. Needless to say, a lot of people made a lot of money. Exactly how did he do this though?
He accomplished the impossible by using three strategies. The first strategy was simple, offset the deficit. He was able to offset the deficit by acquiring companies such as Pratt & Whitney and Otis and Goodrich. These key acquisitions were crucial because they allowed UTC to take the profits from those companies that were not being hurt by the recession and use it to keep UTC afloat for the time being.
The second strategy he took was to plug the leaks in UTC spending. He found that UTC spent a needless amount of money on transporting their own goods and interviewing new workers. By plugging those leaks, he saved the company 15 million a year.
The last strategy he took was getting UTC to the point that it was able to meet the strictest environmental regulations. By lowering their carbon emissions and the water consumption, they no longer had to pay the environmental fines to the Canadian and American governments.
If you had a comfortable upbringing, it may be quite easy to forget that many others in the world are not as fortunate. Thankfully, a Dallas-based life services company called Stream Energy has taken serious efforts to help the needy with their recently-started philanthropy foundation, Stream Cares. Stream Energy sells nationwide life services by providing energy, wireless, and home plans for homes all over the country. However, with Stream Cares, their objective is not to sell to customers, but instead, share the company’s success for the benefit of those in need.
Partnered With Like-Minded Organizations
Following their mission to help those in need, Stream Cares cooperates with another organization based in Dallas called Hope Supply Company; which is an organization that assists homeless children. They organize a national event for children without homes called Splash For Hope. During this event, hundreds of children can enjoy a free day at the Hawaiian Falls Water Park. In addition, the children are treated to a lunch and a picnic and they are also given flip-flops and a free hat.
Attracting News Spotlights
Stream Energy has recently garnered the attention of Patch, an independent US news platform. The recent opening of Stream Cares has benefited people who were victims of Hurricane Harvey. This devastating storm caused at least $125 billion in damage and destruction in states such as Louisiana and Texas during September 2017.
Stream Energy has focused its efforts on helping neighborhoods affected by the hurricane. They were among the first organizations to provide financial assistance for the recovery of Harvey’s victims. The national spotlight is likely to get larger for Stream Cares in the future since this is only the beginning of Stream Energy’s official campaign for the disadvantaged.
An Ongoing Effort
Although Stream Cares may be their formal outlet for charity, Stream Energy has been providing their generosity to the poor and needy all over the US for more than a decade. Furthermore, the company shows no signs of wanting to stop. Stream Cares serves as a testament to their ongoing mission to do good in the world.
Rona Borre the CEO and founder of Instant Alliance formerly Instant Technology since the year 2001.She has been the leading female entrepreneurs in Chicago land she has been nationally recognized woman-owned business progressively increasing her revenue. Rona had the passion to invest and have a better life future and efforts that she has made through this is remarkable. She currently holds a position in leadership roles with the Yong President Organization, Chicago Network and Economic Club of Chicago. View more details: https://techweekchicago2014.sched.com/speaker/rona_borre.6fts1d9
According to cnbc.com, Rona’s work has been acknowledged by the people who surround but also she has been on interviews and featured by CBS 2 Chicago, USA Today, CNN, Crain’s Chicago and CNBC. Being that she is a hard worker, she has been honored by the Business ledger and the National Association of Women Business Owners as an influential woman in business.
Enterprising woman of the year is one of the many accolades awarded to her agency by enterprising women magazine. Rona received her BS in Business from the university of Arizona.
Rona has invested his time in her talent and she participates best when it comes to matter of management.She is dedicate to helping other companies achieve their best by actively participating in her work.