Results
of 1988-1998 Baldrige Award Recipients
|
$ Investment | $ Value - 12/1/99 | Change | |
1988-1998 Award Recipients | 8,883.31 | 83,617.73 | 841.29% |
S&P 500 |
8,883.31 |
28,564.67 | 221.55% |
1988 - 1998 Publicly Traded Whole Company Award Recipients
$Investment | $ Value-12/1/99 | Change | |
1988-1998 Whole Company Award Recipients | 6000 | 72,043.00 | 1100.72% |
S&P 500 |
6000 |
19,653.85 | 227.56% |
Methodology:
A hypothetical sum was invested in each 1990-1998 publicly-traded, site visited applicant's common stock in the year they applied for the Award or in the year they became public. The investment was tracked from the first business day of the month following the announcement of the Baldrige Award recipients (or the date when they began public trading, if it is later) through December 1, 1999. $1,000 was invested in each whole site visited company. For subsidiaries, the sum invested was $1,000 x the percent of the parent company's employee base the subunit represented at the time they received a site visit or at the time they became public as a result of a merger or acquisition by a new parent. The same total dollar amount was invested in the S&P 500 on the same day.
Adjusting for stock splits, the value on December 1, 1999 was calculated. Information is reported four ways: all publicly-traded site visited applicants, all whole company site visited applicants, and each of those groups without the winning companies included. (Note: a company may be included multiple times if they received more than one site visit.)
The 70 publicly-traded site visited applicants, as a group, outperformed the S&P 500 by approximately 2 to 1 achieving a 351.52% return compared to a 174.68% return for the S&P 500. The group of 14 whole company site visited applicants outperformed the S&P 500 by almost 2.2 to 1, achieving a 390.71% return compared to a 180.23% return for the S&P 500. Names of Baldrige applicants are kept confidential. A summary of the results follows.
1990 - 1998 Publicly Traded Site Visited Award Applicants
$ Investment | $ Value-12/1/99 | Change | |
1990-1998 Site Visited Applicants | 24,335.44 | 109,879.60 |
351.52% |
S&P 500 |
24,335.44 |
66,845.11 | 174.68% |
1990-1998 Publicity Traded Whole Company Site Visited Award Applicants
$ Investment | $ Value - 12/1/99 | Change | |
1988-1998 Whole Company Site Visited Applicants | 14000 | 68,698.78 | 390.71% |
S&P 500 | 14000 | 39,232.22 | 180.23% |
Whole Company Award Recipients
ADAC Laboratories
Eastman Chemical Company
Federal Express Corporation
Motorola, Inc.
Solectron Corporation (1991 and 1997)
Subunit Award Recipients (with parent company)
(The sum invested was $1000 x the % of the parent company's employee
base that the subunit represented at the time the subunit applied.)*
3M Dental Products Division (1997)
3M
Armstrong Building Products Operations (1995)
Armstrong World Industries, Inc.
AT&T Consumer Communication Services (1994)
Consumer Markets Division of AT&T
AT&T Network Systems - Transmission
Systems Business Unit (1992)
Lucent Technologies, Inc., Network Systems
AT&T Universal Card Services (1992)
Citigroup, Inc.
Boeing Airlift and Tanker Programs (1998)
The Boeing Company
Cadillac Motor Car Company (1990)
General Motors
Corning Telecommunications Products Division (1995)
Corning Incorporated
Dana Commercial Credit Corporation (1996)
Dana Corporation
GTE Directories Corporation (1994)
GTE Corporation
IBM Rochester, AS/400 Division (1990)
IBM Corporation
Merrill Lynch Credit Corporation (1997)
Merrill Lynch & Co.
Solar Turbines Incorporated (1998)
Caterpillar Inc.
Texas Instruments Incorporated - Defense Systems & Electronics Group
(1992)
Raytheon Company
The Ritz Carlton Hotel Company (1992) (First included in 1997 study)
Marriott International *(Ritz Carlton became public when it was acquired
by Marriott International. The sum invested was based on the sum of
Marriott's employee base.)
Xerox Business Products & Systems (1989)
Xerox Corporation
Xerox Business Services (1997)
Xerox Corporation
Zytec Corporation (1991)
Artesyn Technologies *(As of 12/29/97 Zytec Corporation merged with
Computer Products and formed Artesyn Technologies. Dollars invested
in Zytec were carried forward into Atesyn with a 1.33 split multiplier.)
Stock Purchases |
December 1, 1999 Close
|
|||||
Date of Investment |
Whole Company Recipient or
Parent (Subsidiary Recipient) |
Price |
$Invested |
|
$ Value | %Change |
12/1/88 |
Motorola |
38.125 |
1000.00 |
116.9375 |
12268.85 |
1126.89 |
11/2/89 |
Xerox (Business Products and Systems) |
57.875 |
790.00 |
26.5 |
2170.37 |
174.73 |
11/1/90 |
General Motors (Cadillac Motor Car Division) |
36.875 |
13.39 |
72.4375 |
26.30 |
96.44 |
11/1/90 |
Federal Express Corporation |
33.375 |
1000.00 |
41.375 |
4958.80 |
395.88 |
11/1/90 |
IBM (IBM Rochester) |
107.25 |
17.62 |
103.75 |
68.18 |
286.95 |
11/1/91 |
Solectron |
28.25 |
1000.00 |
86.75 |
49132.74 |
4813.27 |
11/2/92 |
CitiGroup (AT&T Universal Card Services) |
44.125 |
6.53 |
54.4375 |
44.38 |
579.57 |
11/2/92 |
Lucent (AT&T Transmission Systems Business Unit) |
44.125 |
37.54 |
77.25 |
384.62 |
924.55 |
11/2/92 |
Raytheon (Texas Instruments DSEG) |
49.375 |
246.61 |
30.4375 |
542.47 |
119.97 |
11/11/93 |
Artesyn (Zytec) |
10.5 |
1000.00 |
21.625 |
7349.81 |
634.98 |
1/3/94 |
Eastman Chemical |
45.125 |
1000.00 |
38.8125 |
860.11 |
-13.99 |
11/1/94 |
AT&T (AT&T Consumer Communications Services) |
54.5 |
159.26 |
54.8125 |
308.62 |
93.79 |
11/1/94 |
GTE (GTE Directories) |
30.5 |
41.88 |
74.25 |
101.95 |
143.44 |
11/1/95 |
Armstrong World Industries (Building Products Operations |
58.875 |
118.25 |
33.125 |
66.53 |
-43.74 |
11/1/95 |
Corning Incorporated (Corning TPD) |
25.75 |
36.41 |
96.75 |
159.91 |
339.19 |
11/1/96 |
ADAC Laboratories |
20.875 |
1000.00 |
12.06 |
577.84 |
-42.22 |
11/1/96 |
Dana (Commercial Credit) |
29.875 |
11.27 |
28 |
10.56 |
-6.28 |
11/3/97 |
3M (Dental Products Division) |
92.1875 |
9.90 |
94.4375 |
10.14 |
2.44 |
11/3/97 |
Merrill Lynch (Credit) |
69.75 |
16.51 |
79.875 |
18.90 |
14.52 |
11/3/97 |
Solectron |
40.875 |
1000.00 |
86.75 |
4244.65 |
324.46 |
11/3/97 |
Xerox (Business Services) |
79.875 |
149.54 |
26.5 |
99.23 |
-33.65 |
3/30/98 |
Marriott (The Ritz Carlton Hotel) |
35.94 |
96.53 |
33.125 |
88.97 |
-7.83 |
12/1/98 |
Boeing (Airlift & Tanker Programs) |
40.375 |
36.91 |
41.32 |
37.78 |
2.34 |
12/1/98 |
Solar Turbines, Inc. |
51.94 |
95.16 |
46.9375 |
86.00 |
-9.63 |
Totals |
Baldrige Award Recipients |
|
8883.31 |
|
83,617.73 |
841.29 |
S&P 500 |
8883.31 | 28,564.67 |
221.55 |
HTML: Crissy Robinson