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A Chat With
The Chairman
Birthdays are happy memorable times for us all. As we cele
brate these occasions there’s usually something that stands out
in our minds about each.
We just celebrated the nation’s birthday again recently. It
was the 210th. But there was something that gave this cel
ebration special meaning. Her name is “Lady Liberty”.
To say this was only a “special” occasion would be an under
statement of great proportion.
For 100 years, she has stood in New York Harbor as a symbol
of the liberty we all enjoy and that others from around the world
have come to the United States to enjoy.
As we see her torch held high, we should each remember
what liberty means to us.
In this vast land we often take for granted so many things of
which others around the world can only dream due to re
pression of thought and ideas.
In America we enjoy so many rights- to peaceably assemble,
the opportunity to freely express our opinions, to worship as we
please, to vote and choose those who make and execute the laws
under which we live and so many others.
These rights and privileges, in short, allow us each the oppor
tunity to seek our dream.
As we watched the tall ships parade into New York Harbor
past the Statue of Liberty and the spectacular fireworks dis
plays that bathed her in a rainbow of color, it made us recall the
many opportunities we have as Americans.
Seeing the refurbished Statue of Liberty also made us espe
cially proud that Adams-Millis Corporation had been a par
ticipant in the massive $65 million project which renewed her.
The contribution made by Adams-Millis Corporation for the
restoration project through Kmart, one of our major customers,
was made on behalf of everyone associated with Adams-Millis
Corporation.
As so many immigrants told their stories of what they felt
when they first saw the Statue of Liberty as their ships sailed
past on their entry into this country, I’m sure you felt as I did
that her torch should burn forever as a symbol of freedom for
everyone around the world.
It also should serve as a reminder that we should not take for
granted those things which are commonplace to us.
The Presidents
Corner
During the first half of 1986 we have seen a reverse in the
situation of a year earlier at Adams-Millis Corporation.
The 1984 Christmas season saw retailers carrying over
their inventory into 1985. That resulted in reduced orders
in the first five months of 1985 as retailers reduced their
inventories.
With the stronger economy during the 1985 Christmas
season, however, retailers depleted their inventories.
That changed the order situation during the first half of
1986.
Orders were very strong. They were so strong in fact that
we have had to run our knitting machines six and seven
days and up our production by 30 percent to meet the
demand for our hosiery. This has necessitated additional
training and overtime for many which has been costly for
the company.
But it was necessary to service our customers properly.
As of June 1986, retailers apparently had replenished
their inventories and orders have now flattened out.
It’s no secret that economists have predicted an upturn
in the economy this year which has not completely mate
rialized. Although some concerns exist about the import
and export situation based on the value of the U.S. dollar,
the concensus is that we will see an upturn in the U.S.
economy during the second half of 1986.
The situation we see this year points out again the un
ceasing need for our attention to quality, service and
productivity. It is essential that each person give proper
attention to these details.
As we see additional import problems, our attention to
service, quality and productivity will help us compete
with foreign hosiery producers.
(filXAj A* •
401 -K Gives Advantage For Future Now
The Adams-Millis Savings
and Security Plan, known as
a 401-K plan, gives employ
ees an opportunity to save
money for future retirement.
First offered to employees
last year, it is especially
unique in that the money
which you contribute is done
so with dollars that are not
taxed; thus, giving you the
advantage of having to pay
less in Federal and State in
come taxes.
A key feature of the
Savings and Security Plan is
/SBSk
AMCONEWS
July 1986
Vol.42,No.2
AMCO NEWS is edited and
produced quarterly by
Adams-Millis Corporation, 225
North Elm Street, High Point,
North Carolina. Con
tributions, comments and
suggestions are always wel
comed by your staff.
Jackie Barnard, Editor
that you decide how you
want your savings invested.
The Plan offers three
choices and you can choose
one, two or all three.
The Guaranteed Income
Fund offers a high rate of re
turn for a specified period of
time. Both your principal
and interest are quaranteed
while offering the highest in
terest available on small
weekly deposits.
The Diversified Equity
Fund allows even the small
saver to invest in the stock
market through a pro
fessionally managed mutual
fund.
The Life Insurance option
provides protection for you,
your spouse or dependent
children with pretax dollars.
Your life insurance, and that
of your spouse, builds cash
value and provides for fam
ily security during your em
ployment, after you
terminate employment, or
after retirement, with no
change in coverage or cost.
Any really worthwhile
achievement takes indi
vidual initiative. And so it is
with financial security. We
all intend to achieve it, yet,
because it is so very hard to
save today, few of us are set
ting aside enough to meet
our future needs such as
buying a home, college tu
ition, financial emergencies
or retirement. We know this
concerns you.
It concerns your company,
too. That’s why we intro
duced our new Savings and
Security Plan. This new Plan
not only makes it easier for
you to save regularly through
payroll deductions, it also
lets you take advantage of
income tax savings and
unique investment oppor
tunities to make your savings
grow faster.
It’s a great opportunity to
turn good intentions into
reality. Even if you save only
a few dollars each payday, in
a few years you can accumu
late enough to help meet
your financial goals.
During August, company
representatives will meet
with employees in groups
and individually to explain
the program in more detail.
This will give you an oppor
tunity to participate if you
are not already, and, fori
ticipants, a chance to m
any changes you desire.
If you have any questii
contact your Personnel
fice or call the Corpor
Benefits Department.
Patience
Patience is something
admire greatly in the
behind you but not m
ahead of you.
Lift Operators Earn Honors
Several Adams-Millis
Corporation lift operators
have been recognized for
1985*^ records during
The Lift Operator Safety
Awards are presented to
those who operate their
equipment without an acci
dent or citation during the
year.
Those receiving the
awards included: Greg
Smith, Ruth Anderson,
Danny Murphy, Gregory L.
bmith, Leroy Smith, Larry
Young, Scott Coe, Jeff
T Jennings
Little and Connie Hood,
M Mitchell and
Mitch Moody, Plants
Gray, Wayne Parrish-
eria Refregio,
Lawr®"
Stevens, Tony Grif^
Fairchild, Ronnie Con
Lot
Cook, Herb Alley,
Meadows, Plant 1 .
Good, ^ ■
James —a
tineth 0
nd
France, Dorothy
Tommy Hill, ^enr-
ter, Tim Easter and
Also, James Davis, Wayne
Janet Hawks, Roy
Annette Whitt, Plant b’