Plain Talk

In this folksy report to the business community, the chairman of the third-largest U.S. steelmaker, the Fortune 500 Nucor Corporation, headquartered in North Carolina, ascribes his company's success to simplified paperwork, autonomy for its 11 divisions and a human resources policy making its 7000 employees the best paid in the industry, with open communication between workers and management. A single-page memo to headquarters from each branch, listing weekly volume figures on production, shipping, inventory and so on, lets Iverson spot trends requiring his personal attention, which he directs as much to workers in rolling mills and melt shops as to intermediate managers. Proclaiming that the company's employees have no need to organize a union, he cites above-average pay with a ban on layoffs and the encouragement of employee participation in procedural improvements and problem solving. For example, Nucor shipping crews designed their own truck trailers to move steel components more quickly and safely. Iverson, writing with freelancer Varian, offers guidance for other businesses that want to apply the Nucor formula, but he also stresses the start-up difficulties. $100,000 ad/promo; author tour. (Nov.)