Whirlpool Corporation

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Whirlpool Corporation
Type Public NYSE: WHR)
Founded 1911
Headquarters Flag of the United StatesBenton Harbor, Michigan, USA
Key people Jeff M. Fettig, Chairman & CEO
Michael A. Todman, President, Whirlpool North America
Paulo F.M.O. Periquito, President, Whirlpool International
Industry Major appliances, Small appliances
Products Clothes washers and dryers, refrigerators, freezers, dishwashers, ranges, compactors, room air conditioners, microwaves ovens, stand mixers, hand mixers and blenders.
Revenue ▲$18.08 Billion USD (2006)
Net income ▲ $433 Million USD (2006)
Employees 73,000
Website www.whirlpoolcorp.com
Showroom in Hong Kong
Showroom in Hong Kong

Whirlpool Corporation (NYSE: WHR) is a Fortune 500 company and a global manufacturer and marketer of major home appliances,with annual sales of approximately $18 billion, more than 73,000 employees, and more than 70 manufacturing and technology research centers around the world. The company markets Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Inglis, Estate, Brastemp, Bauknecht and other major brand names to consumers in nearly every country around the world.

After acquiring the Maytag Corporation on March 31, 2006, Whirlpool Corporation became the largest home appliance maker in the world.

Whirlpool Corporation's global and North American headquarters are in Benton Harbor, Michigan. In the U.S., Whirlpool has manufacturing facilities in Fort Smith, Arkansas, Evansville, Indiana, Iowa(Newton and Amana), Benton Harbor, Michigan, Oxford, Mississippi, Tulsa, Oklahoma, Ohio(Clyde, Findlay, Greenville and Marion) and Tennessee(Cleveland, Jackson, and La Vergne).

Contents

[edit] Chronology

Year Event
1911 Louis, Frederick and Emory Upton founded the Upton Machine Company and began to produce electric, motor-driven wringer washers. Federal Electric ordered 100 machines, but a gear failed in the transmission of them. Louis Upton immediately replaced them at no cost to Federal Electric, who was so impressed with Upton's ethics, they immediately doubled their order.
1916 Sears, Roebuck & Co. began selling Upton manufactured machines under the "Allen" brand, one for $54.75 and a deluxe model for $95.
1929 Upton merged with Nineteen Hundred Washer Company from Binghamton, NY, taking the name Nineteen Hundred Corporation.
1942 Nineteen Hundred Corporation began converting all of its factories for war production.
1946 Nineteen Hundred Corporation begins manufacturing appliances for John Inglis and Company of Canada.
1949 First top-loading automatic washer sold manufactured for sale under Sears' brand.
1950 The Nineteen Hundred Corporation was renamed as the Whirlpool Corporation, and sold its first top-loading automatic washer sold under the Whirlpool brand.
1951 Establishment of the Whirlpool Foundation, a philanthropic arm of Whirlpool Corporation.
1955 Acquires Seeger Refrigerator Company and RCA's air conditioner and cooking range lines including ownership of RCA's Estate brand name. Company changes its name to Whirlpool-Seeger Corporation and began using the RCA-Whirlpool brand name until the mid-1960s. Whirlpool acquires appliance division from International Harvester Corporation.
1956 Opened a 100 acre administrative center in Benton Harbor, MI.
1957 The RCA Whirlpool Miracle Kitchen was introduced and quickly became a hit with television audiences everywhere, with an estimated 15 million viewers. The company changed its corporate name back to Whirlpool Corporation.
1962 Won NASA's contract for the development of the feeding and waste systems for Project Gemini.
1967 Introduced a 24-hour helpline.
1968 Surpassed $1 billion in annual revenues.
1978 Surpassed $2 billion in annual revenues.
1986 Acquired KitchenAid, a division of the Hobart Corporation.
1987 Began selling compact washers in India and acquired majority interest in Inglis of Canada.
1988 Begins a joint venture with Philips called Whirlpool International with Whirlpool owning 53% of the company. The joint venture was formerly Philips' major appliance subsidiary.
1989 Acquired the Roper brand and Bauknecht of Germany.

Surpassed $6 billion in annual revenue.
1991 Whirlpool becomes full owner of Whirlpool International by buying Philips' 47% stake.
2001 Inglis Ltd. changes its name to Whirlpool Canada. Whirlpool continues to market Inglis appliances to this day. Surpassed $10 billion in annual revenues.
2002 Surpassed $11 billion in annual revenues.
2003 Surpassed $12 billion in annual revenues.
2004 Surpassed $13 billion in annual revenues.
2005 Maytag Corporation shareholders voted to accept Whirlpool Corporation's stock purchase. U.S. Justice Department began a review of the merger.

Surpassed $14 billion in annual revenues.
2006 Acquired the Maytag Corporation, including the Maytag, Jenn-Air, Amana, Jade, Magic Chef, Admiral, Hoover, and Dixie-Narco brands, after Justice Department approved the merger. Sold Dixie Narco to Crane Co., and Amana Commercial to AGA.

Surpassed $18 billion in annual revenues.
2007 Sold Hoover to Techtronic Industries, TTI Floorcare.[1] and Jade Appliances to Middleby Corporation. Also closed plants in Newton, Iowa; Searcy, Arkansas; and Herrin, Illinois. This resulted in the sudden loss of 4500 jobs in the affected communities.

[edit] Diversity

Whirlpool Corporation has seven employee run diversity networks that are involved with business, employee, and community projects to address the needs of the groups they represent. These diversity networks are The Women's Network (TWN), the Native American Network (NAN), the Whirlpool African American Network (WAAN), The Pride Network (PRIDE), the Whirlpool Asian Community (WAC), the Whirlpool Hispanic Network (WHN), and the Young Professionals Network (YP).

Whirlpool received a 100% rating on the Corporate Equality Index released by the lesbian, gay, bisexual, and transgender (LGBT) equal rights organization Human Rights Campaign starting in 2004, the third year of the report.

However the following court cases show a different picture of Whirlpool's treatment of minorities.

In 2005 Whirlpool settled a lawsuit filed by several applicant, who had claimed they had been discriminated against based on race. The lawsuit was eventually expanded to include white employees as well as African-American.

[edit] Trivia

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Whirlpool Corporation is a principal supporter of Habitat for Humanity, a non-profit organization dedicated to building low-cost, affordable housing. The company's commitment to Habitat for Humanity has exceeded $34 million and it has donated more than 73,000 appliances for Habitat homes. The company plans to support every Habitat home built globally by 2011, either through product donations, cash, or home sponsorship.[2]

In November 2006, Whirlpool started the annual Building Blocks program, designed to raise awareness and help eliminate substandard housing in the United States. Each year the program recognizes an outstanding U.S. Habitat for Humanity affiliate and its relationship with its local community by holding a week-long build in the affiliate’s community. The program kicked off in Nashville, Tennessee, in 2006 when Whirlpool united 100 local residents with 100 Whirlpool employees and volunteers from 100 Habitat affiliates. These 300 volunteers built 10 homes on one block from Nov. 5-10, 2006. Whirlpool will build nine homes near Phoenix, Arizona, in May 2007. [3]

In 2006, more than 20 Whirlpool India employees participated in the week-long Jimmy Carter Work Project in India, which resulted in the completion of 100 homes in a village near Mumbai. In 2005, Whirlpool India began a partnership with Habitat for Humanity India. Volunteers from Whirlpool participated in the build organized by Habitat for Tsunami victims in the southern part of India.

In June 2005, Habitat for Humanity held its annual Jimmy Carter Work Project (JCWP) in Benton Harbor, Michigan. This week-long effort cumulated in the completion of more than 230 houses in Michigan. Whirlpool was the lead sponsor for the build and 270 Whirlpool employees from 19 nations worked together to build 10 houses during the week.

To facilitate Hurricane Katrina relief efforts, Whirlpool worked with Habitat to support “Operation Home Delivery.” Whirlpool employees helped construct approximately 50 pre-built homes in New York’s Rockefeller Center that were boxed and shipped to Louisiana and Mississippi and later erected with the help of Whirlpool employees in St. Tamany Parrish, Louisiana. In January 2007, Whirlpool chose to hold its annual sales meeting in New Orleans. As part of that meeting, more than 1,000 Whirlpool employees spent one day volunteering with Habitat for Humanity in an effort to continue rebuilding New Orleans’ residential areas.

Since 2004, Whirlpool has sponsored entertainment icon Reba McEntire’s music tours to raise awareness and more than $500,000 for Habitat for Humanity.

Cook for the Cure: Cook for the Cure presented by KitchenAid, was created in 2001 to give passionate cooks a way to support the Susan G. Komen Breast Cancer Foundation. Cook for the Cure has raised more than $4 million through donation-with-purchase programs, special fundraising events, auctions and grass roots initiatives. KitchenAid also supports breast cancer foundations in other countries including Canada, France, Germany, South Africa, Greece and Israel.

[edit] Major brands

Whirlpool also manufactures certain appliances under the Kenmore label, (manufactured for Sears Holdings Corporation). Whirlpool has expanded the marketing of Inglis appliances which are now sold in the United States at Best Buy stores. Whirlpool also manufactures IKEA brand appliances for low-cost home products retailer IKEA and Admiral appliances for Home Depot.

[edit] Controversy

In 2004 Whirlpool sued to block a new Oklahoma law that would have allowed gun owners to keep their guns in their locked cars.

A Whirlpool dishwasher recalled in 1996 caused a house fire that killed a 78-year-old California woman in 2004. The family claims they never received a recall notice.

In March 2007 a federal lawsuit was filed against Whirlpool for not warning customers about leaky icemakers in Whirlpool, KitchenAid and Roper brand refrigerators.

In 2006 Whirlpool agreed to settle a lawsuit filed against them accusing them of manufacturing a defective washing machine.

In 2007 Maytag owned and operated by Whirlpool was asked by theU.S. Consumer Product Safety Commission (CPSC) to recall 2.3 million Maytag frand and Jenn-Air brand diswashers posing a fire hazard. Consumers were asked in letter dated November 28, 2007 to 1) Immediately stop using the dishwasher. 2) disconnect the electric supply to the dishwasher by shutting off the circueit breaker and 3) infomr all users not to use the dishwasher due to the risk of fire. Instead of recalling the units the Whirlpool and affilated companies are offering a $75 voucher on their brand only which is less than 10% of replacement cost.

[edit] References

  1. ^ "Whirlpool to Sell Hoover Business For $107 Million to Techtronic." Lam, J. The Wall Street Journal. December 7, 2006.
  2. ^ Whirlpool extends commitment to Habitat for Humanity, Habitat for Humanity.[1]
  3. ^ Whirlpool Building Blocks project welcomes home new Habitat homeowners. Habitat for Humanity. [2]

In 2007 Maytag owned and operated by Whirlpool was asked by theU.S. Consumer Product Safety Commission (CPSC) to recall 2.3 million Maytag frand and Jenn-Air brand diswashers posing a fire hazard. Consumers were asked in letter dated November 28, 2007 to 1) Immediately stop using the dishwasher. 2) disconnect the electric supply to the dishwasher by shutting off the circueit breaker and 3) infomr all users not to use the dishwasher due to the risk of fire. Instead of recalling the units the Whirlpool and affilated companies are offering a $75 voucher on their brand only which is less than 10% of replacement cost.

[edit] External links