NEW BOOK LISTS AVIS AS ONE OF 'THE 100 BEST COMPANIES TO WORK FOR IN AMERICA'
GARDEN CITY, N.Y., Jan. 22 /PRNewswire/ -- The employee-owners of Avis, Inc. announced today that the company has been selected as one of "The 100 Best Companies to Work for in America" by the authors of the new book of the same name. Avis is the only car rental company to make the list. Unlike other business books which may make their judgments based on sales, profits, return on equity, and other economic barometers, the completely revised edition of the 1984 best seller, "100 Best" looks at companies through the eyes of their employees, according to the book's publisher Currency/Doubleday. In a comprehensive evaluation, co-author Robert Levering and a team of interviewers spoke with scores of Avis, Inc. employee-owners at World Headquarters here and at several rental locations across the country. All companies interviewed were compared in six categories, and Avis was given the top rating of five stars for opportunities, and four stars each for job security, pride in work/company, openness/fairness and camaraderie. The authors concluded that Avis' Biggest Plus was, "You Own the Place," and the Biggest Minus was, "Owners Work Harder." "It is a great pleasure and an honor to be recognized by others that Avis is a super place to work," said Joseph V. Vittoria, Avis chairman and chief executive officer. "And it is no surprise to us that they find that owners work harder. We have been saying for 30 years that We try harder,' and we've certainly proved it since becoming employee- owned." Levering and co-author Milton Moskowitz recognized this by opening their section on Avis with: "Two abbreviations -- ESOP and EPG -- tell the Avis story. Avis' ESOP (employee stock ownership plan) owns the company, making it one of the largest employee-owned firms in the United States...and EPGs (employee participation groups) demonstrate why employee empowerment is more than a catchy slogan at a company that coined one of the catchiest slogans in corporate America ( We try harder.')." As proof that the Avis ESOP is working, Mr. Vittoria noted that in five years the acquisition debt of $785 million has been reduced to $158.3 million, profitability has improved, and the company's quality of service to customers has improved dramatically. -0- 1/22/93 /NOTE TO EDITORS: The next Avis EPG meetings will be held Thursday afternoon, Feb. 4 at corporate stations across the country and in Puerto Rico and the U.S. Virgin Islands. If you would like to attend a meeting in your area and see Avis' ESOP and EPGs in action, please telephone me./ /CONTACT: Raymond Noble of Avis, Inc., 516-222-4719/
CO: Avis, Inc. ST: New York IN: LEI SU:
PS-OS -- NY012 -- 7824 01/22/93 10:15 EST
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|Date:||Jan 22, 1993|
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