Hypertherm has new owners!

[jimcolt]

Link to the Front page of the Lebanon, NH Valley news:

http://www.vnews.com/news/10212951-9...HiscU.facebook

We are pretty excited.....

Jim Colt

[aevald]

Congratulations Jim, do your co-workers have any big plans for any changes as of yet? In other words, when it was owned by folks other than the employees did you folks have a wish-list or anything that you are now planning on putting into play? Just curious, but, congratulations once again. Best regards, Allan

[jimcolt]

We (employees) have owned 33% of Hypertherm for over a dozen years. The remainder of the stock was held by Dick Couch, the original founder....and CEO and Chairman of the board. Dick and his wife Barbara (who is VP of Human Resources) decided to "sell" there remaining 67% of the company to the employee stock option plan.....which doles out stock shares to each employee as a benefit. When an employee leaves the company for any reason...the stock is sold back to the stock plan at the current per share value. This is our self funded retirement account, as the company grows the value of the stock increases. Instead of overpaying high level executives as many corporations do.....Hypertherm shares all of the profits on an equalized basis with every employee.

As you can imagine, this 100% employee ownership makes for a very satisfying work environment at Hypertherm, virtually everyone comes to work with a great attitude and puts extra effort and thought into everything they do. Imagine the impact on the quality of the products that go out the door.

I am very thankful that I walked into Hypertherm back in 1978 as a 21 year old looking for a job. I was the 11th employee......we currently have 1400 employee/owners!

I see no changes in the way Hypertherm does its business as a result of the transfer of ownership, with the exception of even better commitment to excellence.

Jim Colt

Congratulations Jim, do your co-workers have any big plans for any changes as of yet? In other words, when it was owned by folks other than the employees did you folks have a wish-list or anything that you are now planning on putting into play? Just curious, but, congratulations once again. Best regards, Allan

[weldermike]

That is just awesome Jim!!!!! Congratulations! Now thats how you run a business to be the BEST!

[ManoKai]

FanTastic Jim! Glad to see the employees riding the hard earned wave of success. Best fortune. USA!

[MinnesotaDave]

Best wishes - sounds like an excellent way to do business to me

[tnjind]

Sounds like the Founder is a genuine good guy.
lucky.

[BD1]

WOW ! There are people who really care about their people ! That is amazing , talk about a sales promotion ! Words cannot describe what Dick and Barbara have done. Frequently, you hear about owners cleaning out the company and the employees dedicated years of service come to work to find the doors locked and a out of business sign. That happen in Chicago a few years ago. Really happy for you JIM. So,now that you are a big wig, we gonna get a discount on next purchase ??

[mla2ofus]

Congrats, to Jim and all the employees/stockholders!! I can only wish you could start a trend across the country. I think all employees would have a lot better attitude owning a piece of the action.
Mike

[Oldendum]

Party time. Put your hands up and shout!

[Canadian Welding]

Just another reason to buy a hypertherm!

[gordon stephenson]

Way to go Jim, Congratulations. May your founders have a long and happy retirement.It's a very fine thing when all the workers are well treated and respected for there efforts.

[duaneb55]

That's awesome Jim! A true "employee owned" company. Congratulations and may Hypertherm prosper for many years to come.

A company I used to work for had "Employee Owned" on the company sign. Trouble is, you needed to be an employed family member in order to qualify for company stock. A deceiving play on words for those that didn't know any better.

[denrep]

That sounds like a very benevolent move on the pat of the founders.

Congratulations and best wishes to all.

[jimcolt]

Gordon,

The founders have no plans to retire. Dick Couch continues as the CEO and Chairman of the board, his wife Barbara continues as VP of Human Resources. They are truly classy people that care about their co-workers, and care about people. Always have been....something I saw on day one at the company back in 1978!

Jim Colt

Way to go Jim, Congratulations. May your founders have a long and happy retirement.It's a very fine thing when all the workers are well treated and respected for there efforts.

[mad welder 4]

Wow, I like the sound of that.

[richey]

Jim that is outstanding. I am very proud for you folks. Boy I believe America would be in much better shape if more companys did that.

[gordon stephenson]

Hello Jim,
Looks like a true sign to me that the founders have had an enjoyable working life. and don't want to give it up just yet. May Hypertherm go from strength to strength, You surely make a great product with everybody pulling in the same direction,

[handtpipeline]

Congrats Jim. That is a big part i'm sure of why Hypertherm has such a good reputation for it's products. There is no comparison in the workmanship and pride in your products compared to where employees are just a number that punch a timeclock in ideal conditions, or work in a sweatshop in the case of some of the "imported" units.

[pigeonpoop]

I read this yesterday, then bought a new Powermax30 today.

I'm giving away my almost new Harbor Freight cutter as soon as someone takes me up on the offer.

Jim, I'm a retired Navy submarine/destroyer veteran and I'm all about folks like you and your company...I'll gladly put my money where my mouth is and buy the stuff you guys there make for us.

Thanks!

[ManoKai]

@ Pigeon - you'll dig the PM30. Sold my PM30 to upgrade cut capacity and pulled the trig on a new PM45. Won't enter/buy from the HorrorFreight.

[pigeonpoop]

@ Pigeon - you'll dig the PM30. Sold my PM30 to upgrade cut capacity and pulled the trig on a new PM45. Won't enter/buy from the HorrorFreight.

I copy your comments on the Powermax, but I assure you that the Harbor Freight cutter ain't no slouch for the money....It just ain't as forgiving when it comes to air quality and piercing as the Hypertherm.......I'm betting they will cut heads up equal as far as thickness and speed, but not be equal when it comes to consumable life, duty cycle and warranty.

Funny thang is when I read the Hypertherm Powermax30 owner's manual, it states in the charts to use full 30 amps no matter the thickness or type metal, and just adjust your cut speed.....DUH?

Jim Colt, you wanna chime in on this comment/question?

If the manual says always use 30 amps, then why the twisty knob?

[jimcolt]

Easy answer. If we offered up a cut chart for every amperage.....such as the correct cut speed for each thickness at 20 amps, at 21 amps, at 22 amps, etc., it would add a hundred or so pages to the operators manual.....as well as a lot of confusion for the users that actually read the manual. So we choose to print cut specs that are proven to work (in our labs) at the highest energy density level that works with each set of consumables. The highest energy density for a 30 amp set of consumables is 30 amps.....therefore the cut charts are done at that level.

We encourage you to experiment if the cut specs we provide do not provide the results you are looking for. With my 30....if I am cutting some thin gauge I often operate at 20 to 25 amps. If I am running on a 15 amp 120 volt circuit.....and don't want to trip the breaker....then I set the Powermax30 output in the range that works well on a 15 amp, 120 volt circuit, as indicated on the amperage dial.


Jim Colt Hypertherm

[mechanic416]

Jim, That was a very good answer to the question. But its not what I think he had in mind.

("The highest energy density for a 30 amp set of consumables is 30 amps.....therefore the cut charts are done at that level") and the manual reflex that by telling you to use your cutter at 30 amps.

Now Hypertherm only makes a 30 amp set of consumables for the powermax30 unit. Not 15, 20, or 25 but they will work on these amps but will not give you the best cuts or consumable life because the 30 amp consumables are not optimum for those amp settings.

[jimcolt]

Correct, there is only one set of consumables for the Powermax30. The amperage knob can be adjusted to any setting from 15 amps to 30 amps. You can cut at more reasonable speeds on thin materials at a lower amperage setting......that is one function of the amperage knob.

The amperage knob can also be used to adjust the output power to conform to your incoming power line......see attached page from the operators manual:

Jim Colt