Federal Companies Recognized for Outstanding Achievement in the Field of Open-Book Management

PEORIA, Ill., May 19 /PRNewswire/ -- Federal Companies, an Illinois-based transportation, logistics, and warehousing company, was recognized for outstanding performance in the area of open book management on May 6 at the 2010 Gathering of Games held in St. Louis, MO. The award was conferred by The Great Game of Business Company, a Springfield, MO-based firm dedicated to promoting open-book management across the private and public sectors. Over 6,000 companies participate in the Great Game of Business, including many Fortune 500 companies.

The Great Game of Business is founded by three basic principals:

Know and teach the rules, Follow the action and keep score, and Provide a stake in the outcome.

Companies participate in the Great Game to:

• Develop employees' business acumen and commercial awareness
• Change their decision-making behavior
• Establish key financial metrics
• Engage employees in solutions
• Build a common language to support strategic decisions.

The benefits that the Federal Companies have received by practicing these principals have enabled our employees to:

• Make smart decisions
• Learn why businesses make or lose money
• Know the difference between profits and cash -- and why they should care
• Control cash moving in and out of the business
• Create a business plan and learn why we really need them

In granting its "All-Star" award to Federal Companies, the Great Game of Business Company cited Federal Companies' ownership for its commitment to its staff, its customers and its community. The firm has developed a variety of innovative scoreboards to help its staff track and understand company finances and how their individual contributions affect the bottom line. The high degree of financial transparency and accountability has helped Federal Companies maintain strong profit margins in a down economy.

In accepting the award, owner & CEO, William T. Cirone noted that the company has used open-book management to raise customer satisfaction levels, empower its entire employee base to build a more caring, trusting corporate culture that fosters the right person in the right place, producing the right outcome. "Our ownership team is really in service for our employees. The true owners of our company are our employees who get up every day focused on ways to improve the financial performance and to provide excellent customer delight. By practicing open book management, they know they have a stake in the outcome," stated Cirone.

Also in attendance at the conference was Dr. Aaron Buchko, Professor of Management at the Foster College of Business at Bradley University, and a member of Federal's Board of Directors. Dr. Buchko commented, "It was a privilege to attend the conference and to be a small part of the recognition that was given to Federal Companies as an All-Star Company in the Great Game of Business. This gives real validation to the efforts of the leadership team and all of the people of the Federal Companies in creating a truly outstanding company."

Dr. Buchko added, "We're delighted that Jack Stack, the man who literally wrote the book on Open Book Management and whose leadership of Springfield Remanufacturing Company turned it into a world-class organization.  Mr. Stack will be coming to Peoria this fall to share his views on business, leadership, and the Great Game of Business with our business community and our Bradley Students. Our students will be given the privilege to learn from Jack's insights which will add tremendous depth to our education process at Bradley. Also during his visit, Mr. Stack will present to our community business leaders his view of the economy, the challenges facing leaders of local businesses and encourage them to think about stepping up their game and improving their firm's performance by adopting the principles and practices of employee engagement through open book management. We look forward to a great learning experience for everyone in our community."

CEO Jack Stack's book about our management system, The Great Game of Business has sold more than 220,000 copies, is in its 23rd printing, has been translated into 8 languages, and was selected as one of the "100 Best Business Books of All Time" in February 2009. In fact, Inc. magazine dubbed Stack "the father of open-book management."

Federal Companies is a privately held business. The company is owned by William T. Cirone, Randall L. Schrock, and Jeffrey R. Bogdan. The company was started in 1913 in Peoria, Illinois and currently has other locations ranging from Milwaukee, Chicago, Frankfort, Bloomington, Champaign, Decatur, to St. Louis. The company today employs 290 people. The company provides domestic and international relocation services as an agent for Allied Van Lines, warehousing, distribution, freight brokerage, off site records management, remote data back up and imaging services, home delivery, and motorcycle transportation services to more than 250 customers each and every day. The firm has been practicing open book management for seven years. www.federalcos.com

The Great Game of Business Company, a subsidiary of SRC Holdings Corporation, promotes a special brand of open-book management developed and made popular by its founder and CEO Jack Stack. The organization holds an annual conference to promote open-book management in St. Louis, MO.  www.greatgame.com

Allied Van Lines is a subsidiary of Sirva Inc, headquartered in Westmont, Illinois is a leader in world wide relocations and moving services. www.sirva.com ; www.allied.com

SOURCE Federal Companies