Mr. George truly believed investing in others was the right thing to do. He knew if he took care of his associates and invested in them, they would take care of their customers.
He made Publix unique by giving ownership of the company to the individuals working to achieve our mission — his Publix associates. This is the story of that initial investment.
Company ownership began at our very first store — Mr. George wanted his employees to share in the ownership of the business. He knew that when you own something, you take care of it. You want it to succeed. You care about it. But, on the heels of the Great Depression, he also knew how hard it would be for his employees to come up with money for a $100 share of stock. So, he devised a plan to help them. By giving them each a $2 per week raise and holding the money to pay for the share of stock, the stock could be paid in full in 50 weeks. In less than one year, everyone in the store was a stockholder.
Today, Publix remains a privately-held, employee-owned company. Our stock ownership and retirement plans are important benefits that have helped Publix become the largest employee-owned grocery chain in the U.S., and one of the largest employee-owned companies in the nation. We can be proud to call ourselves Publix owners.
Each of us has the ability to put Mr. George’s lesson of investing in others into practice. We do that by building relationships with our customers, our suppliers and each other. This month, take time to invest in someone. Thank them for helping make Publix…Publix. And, never forget the investment Mr. George made in each of us. This is our company. Let’s make it the best it can be.
Look for the green symbol in the featured image at the top of this article throughout the year to identify a Mr. George lesson. And, watch his lessons come to life online at corporate.publix.com > About Publix.