The sun. [volume] (Newberry, S.C.) 1937-1972, October 14, 1954, Image 3
>AY, OCTOBER 14, 1954
THE NEWBERRY SUN
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You may have read or heard about the new profit-sharing plan at The
Champion Paper and Fibre Company. As neighbors, we thought you might
like to know more about it. Perhaps you know that this “New Idea” provides
that 15% of profits, before taxes, will be set aside for all our working part
ners, subject to U. S. Treasury Department approval of the plan.
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THE BACKGROUND OF OUR NEW PARTNERSHIP
This profit-sharing plan was adopted only after virtually unanimous approval
by all of us who work together at Champion. And it has the overwhelming
approval of our shareholders.
We all know that the money Champion takes in comes from the work we do,
the products that we make and our customers buy. This is our only way to
get money for wages, equipment, buildings, pulpwood and all the things that
keep the Company going. And profits are the only source for insurance and
retirement benefits. So. no matter how we look at it, the security for all
Champions and their families depends on Champion making money. If we
can’t build security this way, we can’t build it any other way.
EMPLOYEE BENEFITS ARE NOT NEW TO CHAMPION
For many years, Champion has offered life insurance, health and accident,
hospital, surgical and medical benefits as well as retirement income. But
employees had to pay part of the bill, although the smaller part. Under our
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new profit-sharing plan, our working partners pay nothing even though
the benefits have been improved.
✓
TRUST FUND FOR PARTNERS
Under the “New Idea,” the balance of the 15% remaining after paying the
cost of our various insurance benefits goes into a trust fund in which each
Champion has an individual account. This account can be used to provide
more life insurance or a bigger retirement income or to provide financial
aid in the event of emergency.
‘ ’l . V • _ !»* . . . *’ - 'C
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BUILDERS OF SUCCESS NOW SHARE SUCCESS
We have been working toward this profit-sharing plan with our 9,000 part
ners for some years.
In a real sense, the men and women of Champion have always been partners
in our enterprise. They have helped build Champion into the industry^ it
is today. Their skill, their interest, their pride in good products have con
tributed greatly to Champion’s success. We believe it. is sound for them to
share in profits because they make profits possible.
The amount of money that will be available for benefits, and to build each
partner’s account in die trust fund, will depend upon the Company’s profits
in the years to come. It’s up to all of us at Champion, working together, to
build together—os partners in paper and profits.
P-
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The Champion Paper
HAMILTON, OHIO
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