Fast Track Management
In 1997 the company devised a "Fast Track" Management training program and recruited college and business school graduates for immediate placement in upper middle management positions, requiring relocation to another state upon completion of the program. Scheibs' corporate office and shareholders were dismayed to find that 85% of those participating in the program resigned upon relocation. After Scheib's death, the company was sold to former college basketball champion Chris Bement and Dan Siegal, who made his fortune in Las Vegas winnings, and other investors. Improvements were made in the quality of paint and a corporate restructuring.
Read more about this topic: Earl Scheib
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