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The
Weitz Company of today descends from a small carpentry shop
founded in 1855 by an entrepreneurial German immigrant. In many
ways, the company grew up not just with the construction industry,
but with the nation as well. It predates the Civil War, the telegraph
in Iowa, dynamite, and the transcontinental railroad.
Over the years,
Weitz earned a reputation as an innovative company with the tenacity
and financial strength to venture into unchartered territory and
succeed. The company built the first high-rise west of Chicago in
1908. Even during the worst of times, Weitz found work. During the
1930s, as other construction companies fell to the Great Depression,
Weitz became a leader in federal projects, building post offices
in 42 states.
In February
of 1995, executive management, led by Glenn De Stigter, completed
a debt-free buyout of Weitz, converting it to employee ownership
for the first time in the companys history. In late 2000,
the board of directors broadened equity participation among the
ranks, and more than 250 employees now own stock in Weitz. As a
result, todays Weitz employees are more engaged and responsive
than ever, always looking for the best way to serve the client and
improve the company.
The new leadership
also reorganized the company under a federalist structure. Using
the Federalist Papers as a guide, Weitz established a corporate
structure that places responsibility and decision-making power at
the local division level. The Corporate Services Group provides
strategic direction for the overall company as well as "backroom"
operations for accounting, HR, technology, finance and legal services.
Each division is responsible for business development, marketing,
community relations, client and vendor relations, planning and project
management. Throughout the company, decisions are made at the level
where ultimately they will be executed. This system provides autonomy
and rewards personal responsibility and growth among employees.
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