UNIQUE! 1993 Entrepreneur of the Year Award for David J. Heerensperger Eagle Inc

Description

UNIQUE!
1993 Ernst & Young
Entrepreneur of the Year Award
for
David J. Heerensperger
, Chairman and CEO of
Eagle Hardware & Garden Inc.
Height = 10.83", width = 10.63".
Solid, wooden platform with name plate. Award produced by Bruce Fox in New Albany (sticker on bottom).
Read more about the
company's history
here:
Eagle Hardware & Garden, Inc. -- Company History (company-histories.com)
,
excerpt below:
When
David J. Heerensperger
relinquished his posts as chairman and chief executive officer of Pay 'N Pak Stores, Inc. in August 1989, the end, it would seem, had come to what had been an illustrious career in the home building industry. In his early 50s at the time, Heerensperger had been actively involved in the retail sale of hardware products for the previous 35 years, achieving remarkable success during his years of service, most notably by turning Pay 'N Pak, a home building retail chain, into a regional powerhouse. When Heerensperger joined Pay 'N Pak it was a million-a-year company making its way through its first decade of business. By the time the reins of command were passed to Heerensperger's successor exactly 20 years later, Pay 'N Pak had grown enormously, collecting more than 0 million in sales each year. Not surprisingly, Heerensperger had benefited financially from his years at the helm of Pay 'N Pak, reaping the rewards from what was widely regarded as astute, prescient, and enterprising leadership. Heerensperger left the 0 million company he had built owning roughly 12 percent of it, enough to finance his retirement one hundred times over and spend his days reflecting on his distinguished career. Instead, Heerensperger began anew, creating Eagle Hardware & Garden almost immediately after leaving Pay 'N Pak, opting to forego retirement to orchestrate another assault on his competitors and jump once again into the home building retail market. In less than three years, Pay 'N Pak would sink into financial ruin, collapsing just as Heerensperger was in the process of achieving the greatest success of his professional life.
The path toward Heerensperger's success with Eagle Hardware & Garden began in 1954 when, at age 17, he was hired to do inventory for a hardware store in Longview, Washington. Five years later, the man who had hired Heerensperger was impressed enough with his work that he loaned Heerensperger ,000 to open his own hardware store in Spokane, Washington called Eagle Electric & Plumbing Supply. Another store was added later, as the young entrepreneur enjoyed early success. Then in 1969 the definitive moment in his career arrived when his company and Buzzard Electrical & Plumbing merged with a 19-store plumbing and electrical supply chain named Pay 'N Pak, which had been formed eight years earlier. Heerensperger became the new leader of the merged entities and quickly made his presence known, initiating several important changes that would make the Seattle-based chain the success it would later become and offered glimpses into the way Eagle Hardware & Garden would later operate. (...)
Few could doubt he might reach such a total, particularly after the events of 1992 were played out, when three more stores were added to the company's fold. A Seattle store opened in August, followed by the establishment of a store in Federal Way, Washington the next month, when Pay 'N Pak finally caved in under the weight of debt and closed its doors forever. The third store, which began business in October, extended the company's presence beyond Washington's borders for the first time and into Alaska, where a 168,000-square-foot store was opened in Anchorage. The opening of these three stores during a three-month span had been aided in part by the company's initial public offering in July, when Eagle's stock sold for per share. By October, when the Anchorage store opened, Eagle's stock had soared, jumping to .25 at one point during the month, instilling confidence that Eagle in the years ahead would become a dominant force in the hotly contested home improvement market. (...)
Eagle Hardware & Garden, Inc. -- Company History (company-histories.com)
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