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L. G Everist Case Study

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In 1986, the Chernobyl Nuclear Power Plant exploded and melted its core reactor. President Ronald Reagan spoke to Congress about the Iran Contra weapons scam. Out of Africa won the Academy Award for best picture, and a company named Microsoft held an initial public offering of its stock shares. Against this backdrop, the third generation of Everists gathered in Sioux Falls to complete a “split and swap” of the seven equal shares of L.G. Everist, Inc., Western Contracting, and Intercontinental Engineering. Various amounts of shares were traded, swapped, and cashed out that day, and the result was that L.G. Everist, Inc. (“LGE”) was owned by the families of Steve and Rick Everist; Western Contracting was owned by the Dan Everist family; …show more content…

For the next 20 years, the material flowed through the 88th Avenue yard in steadily increasing quantities. We found a fly ash customer who needed a contractor who could handle railroad cars, load scale trucks, and keep an accurate inventory. Soon thereafter, we were approached by a quicklime shipper who needed to transfer nearly 1.5 million tons of material to stabilize the subgrade for the new Denver airport. We built the terminal in three months and never looked up for the next four …show more content…

Take a brand new loader or pickup into a plant site, work it hard for a day, and it will be filthy. Aside from this riveting fact of life, the truth is, we wear stuff out for a living. Everything we touch begins to wear out the minute we start using it to break, screen or transport rock and sand. What sets us apart from other materials businesses is something that Hubert Everist made sure of many years ago: we take good care of the tools and the rolling stock, and use them until they are ready for the scrapyard. All of the field managers for LGE know that most times the real solution to an equipment dilemma can be found in the boneyard of another plant! Tom Everist once said that “all business is timing.” Very little of what has been assembled in the last 30 years is a result of superior business acumen or some complicated market strategy. Land was bought, track was laid, and buildings erected on the premise that we wanted to build a business with what we know and do best: manage resources and sell them to others who need and recognize quality products and

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