Team 1 Sets "2" Milestones on Friday, May 21, 2010
Team 1 passes “2” milestones on Friday, May 21, 2010. First, we set another safety record in passing “3,500” days without a lost time accident. In fact, every day that passes without a lost time accident it sets another safety record. This is almost 10 years and prior to this current record we had gone 2,286 days. Thus, we will have gone over 5,700 days, almost 16 years, with only 1 lost time day.
This is an unbelievable accomplishment and is truly a team effort. More information can be found on our news page.
Our 2nd milestone is that we paid a 1st quarter open-book bonus! The last open-book bonus paid was in August 2008. Our open-book bonus plan is based upon a full year performance and the 1st quarter bonus payment is the smallest because of the use of projections for the remaining nine months of this year.
It is just more proof that we have survived the worst economic recession since the 1930-40s in exceptional financial condition. We were profitable in 2008 and 2009 and able to finance all of our operations with our own cash during this severe downturn. We continue to build our financial strength for the remainder of this year and into 2011 as we are awarded transfer and new programs because of our ability to smoothly launch them under tight schedules.
