George
Jochum, who will soon mark his first anniversary as CEO of Sears Labs,
brings a long history of successful business experience to the company.
He worked for Western Union for 32 years, where he advanced in managerial
responsibilities over the years.
I am self-taught. The highest degree I have
is an equivalent to an AA, but my experience brought me a wealth of
education in the different elements of management, Jochum said.
He started out in California as a shop repair maintenance
person, which he said is about as low as you can start,
repairing stock tickers. Within 18 months he was promoted to senior
technician and moved into management five years later. From there,
the promotions kept on coming junior supervisor, first supervisors
assistant, San Francisco district manager with nine states under his
responsibility, assistant vice president of quality control in New
York, vice president of the Government System Division, area vice
president in Chicago.
Before I had dealt with the technical world.
Now I managed all of Western Unions business in the state of
Illinois, he said.
His next promotion brought him to New York as the
president of the portion of Western Unions business that sold
stock market information to banks. Bank officials would be able to
load a tape on their computers to see how much money was made or lost.
Thats the kind of information we would
collect for them, and we also had bond models that identified the
worth of thinly traded bonds. Seventy five of the top 100 banks were
my customers, he said. The company represented about one-third
of Western Unions income. Those were tough times for the company
because the telegram was dying so this new company was a gold mine.
Jochum said a long-time chairman of Western Union
had always been his sponsor. When he retired, Jochum got what he calls
his first demotion.
We got a new chairman, a Harvard graduate,
and he decided I wasnt the right person to be in New York dealing
with these financial gurus. He wanted someone educated in the financial
world. He wanted to bring in his own man, Jochum said.
But his new Western Union assignment added a new
dimension to his management skills. He was made the manager of Technical
Facilities in Manhattan at a Western Union division that he said had
tremendous labor problems.
The union president called me the first day
on the job and said he was going to shut the place down. I went to
his office. This was the first time a Western Union manager had gone
to the unions office, he said.
When Jochum was a senior technician early in his
career, he was also shop
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