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He refused the transfer and filed an age discrimination complaint, but lost. Even those closest to Menard are not sure what drives him. John R Menard III, age 80+, lives in Eau Claire, WI. His stores, which compete with Home Depot and Lowe's, are concentrated in the middle of the U.S., from Wyoming to Ohio. Anything they can make a buck on Theyre kind of the Wal-Mart of the home improvement industry, says Scott Bropst, a Menards employee for 21 years and a store manager for 14. Its a big gamble, industry observers say, but it might also assure the companys survival. When Bropst became the manager of a competitors crosstown store a few months later, Menards sued. Retail War When an even more draconian clause was added later, Faber, the former Iowa store manager, questioned it and drew Larry Menards ire. Instead, he got a cowboy in jeans with his shirt partially unbuttoned and a chain around his neck, he says. John Menard negotiated a three-year sponsorship contract that was not only a good deal for the company, but allowed his son Paul to advance his career by driving a Petree car. But he hated the morning chores, fearing they left him smelling like the farm when he got to the local Catholic high school. John opened Menards Cashway Lumber to serve them, and upon graduation from college in 1963, turned down a job with IBM to build his own company. Archibald says the children have never forgiven their father for having an affair with another woman while he was married to their mother.. John Menard III - Net Worth 2018, Bio & Wiki Feature Stories [citation needed]. Its stores are newer, cleaner and offer a shopping experience emphasizing the fashion element of home improvement that women particularly like. His parents were teachers John Menard Sr., a University of Wisconsin-Eau Claire math professor; his mother, Rosemary, at St. James the Greater, a Catholic grade school. Sissam had expected John Menard to be a sophisticated businessman in a wool suit. Indeed, he refused to hire former Home Depot or Lowes employees for fear the person might be a spy. Menards was adamant about keeping a union out of its stores. The country's leadership set this year's economic growth target at around 5%, a target more modest than some had previously projected as policymakers take into account a wide range of difficulties besetting the worlds second-largest economy. He was told to ask the customer how much hed paid for the tires and to give him a refund. Some budget-squeezed managers could be so short staffed, they had trouble meeting demands headquarters placed upon them. Menard would buy up a manufacturers overstock and rejects for pennies on the dollar. A 2002 tax filing showed Menard owned 100 percent of the companys voting stock and 56 percent of its nonvoting stock. Menards is an American home improvement retail company headquartered in Eau Claire, Wisconsin. Ruling by Intimidation On Forbeslist of the worlds billionaires, he ranks 155th. He and others, Firestone, the Speedway, Dale Earnhardt Sr., Roger Penske, they contributed a lot of money for a scholarship for [Scotts 2-year-old daughter] Carly, Lee Brayton says. The service desk employee called corporate headquarters for guidance. Linda Helget phoned Menard to plead with him to relent. That ethic influenced John Jr., but he was never interested in staying on the farm. Within a few years, he says, the youngest will be eligible to start receiving money from their trust funds, but paid out in 10 annual installments instead of one lump sum. Menards catchy slogan, Save Big Money at Menards, seemed to jingle relentlessly from every radio and TV, worming its way into the heads of shoppers across Americas heartland. John called me up and said, lets go have the most expensive steak in town and celebrate.. John Menard considered Chicago the heart of his territory, and he was determined to dominate in that market. In Duluth, Minn., he opened the mother of all home improvement big boxes, a 250,000-square-foot behemoth, more than twice the size of a typical Home Depot. In his quest to run things his way, Menard was the ultimate micromanager, employees say. The company was fined $160,000. John Menard, Jr. - Forbes But this sort of compassion was rare, his associates say. The Helgets filed a wrongful firing claim against Menards; their attorney Edwin Sissam took the Menard brothers depositions. John Menard | Flickr John Menard has made it clear his 33-year-old nephew Charlie Menard, Larrys son, will be his successor. A 1963 graduate of the University of Wisconsin-Eau Claire, Menard opened his first hardware store in 1972. Team Menard Inc. won the Indy Racing League championship twice. John Menard Jr found another way to beat his rivals. John Menard Jr, It was clear Mr. Menard is very, very secure in himself. Menard, through his attorney, has denied this. John Menards first, second and third true loves are Menards Inc. Everything including his family comes after that, says Kight. In his quest to run things his way, Menard was the ultimate micromanager, employees say. say, Kmart, circa 1978. Yet, it said, there were cutting-edge flourishes its competitors lacked, including computerized kiosks that convert the dimensions of a proposed deck or garage into a shopping list of materials needed to complete it. His car will be sponsored by his dad John Menard Jr. The Helgets were elated until they discovered Eldons contract with Menards barred him from working for a competitor for a year. Additional IRS cases show the Paul C. Menard 1985 Trust had a 2002 taxable income of $30.4 million; Mollys trust, $4.5 million. In 1997, John Menard was caught using his own pickup truck to haul plastic bags filled with chromium and arsenic-laden wood ash to his own home for disposal along with his household trash. In 2003, the Minnesota attorney general charged that Menards manufactured and sold arsenic-tainted mulch in packaging labeled ideal for playgrounds and for animal bedding. Warning labels from the CCA-treated wood were found in the mulch. The company has had environmental problems in other states, too. How home improvement store founder John Menard Jr became the richest man in Wisconsin and what he sacrificed to do it. Chancellor of Concordia University. By making some of the products he sold, he kept prices low. "John Menard and his teams won several Indy 500 pole positions and were consistently some of the fastest cars in the race with the Buick engines at that time." . Johns absolutely driven to maximize everything, says Steve Kight, former managing director of Menards British racing engine company, Menard Engineering Ltd. Menard quickly grew Cashway, adding a truss plant, operations for treating lumber, producing countertops, pre-hung doors, boards, steel and nails. Menard first started a construction business in 1958, 20 years before Home Depot launched. John Menard Jr, Ander, the retail consultant, says that Menards Inc. has succeeded through strong leadership by a benevolent dictator. But after the dictators gone, does the culture survive? Ander asks. Managers who questioned the rules might do worse. John Menards many environmental violations. In 1996, the industrys Home Channel News magazine called Menards staffing remarkably frugal, with 52 employees per store, including headquarters personnel, compared to Home Depots 195. Wedding Venues Known for. The number of do-it-yourself customers is declining, experts say, prompting Home Depot and Lowes to offer their own installers. The company plans more monster stores. Illustration by Joseph Adolphe. You made more money on that than lumber, where you had to sell 10 two-by-fours to make 50 cents because you competed against the other big boxes.. Log In. Menard named the race car driver (on the regional Midwest circuit), whos never worked outside of the family firm, chief operating officer in 2005. On numerous occasions, former managers say, Menard hired private investigators to take photos when an employee added a deck or addition, then had internal examiners cross-reference the materials in the photos with items the employee had purchased, looking for products that had been stolen. That was the beginning of the end of my career with them, he says. That meant a $15,000 cut in his $40,000 salary, but Helget still agreed. In January 2008, Menard gave $15 million to support Luther Midelfort Hospital. case dismissed. Menard, the Eau Clare farm boy, had done it himself. In 1996, the industrys Home Channel News magazine called Menards staffing remarkably frugal, with 52 employees per store, including headquarters personnel, compared to Home Depots 195. Also in 2006: The U.S. Environmental Protection Agency issued an administrative order against Menards for damaging a Sioux Falls, S.D., stream that ran through its property by filling in 1,350 linear feet of the stream and replacing it with a 66-inch storm sewer pipe. We sold more diapers than the Target next door. When it comes to decisions about how far to expand, John had a wisdom that these people dont., But it may not matter who becomes the next CEO. John called me up and said, lets go have the most expensive steak in town and celebrate.. When John goes, Archibald predicts, Menards is going to go up for sale and the kids will split up the proceeds. If the new owner takes Menards concept nationwide, he adds, they will eat Home Depots and Lowes lunch.. He built a mammoth two-story store in St. Paul, Minn., complete with a moving walkway that carries customers carts past a baby grand piano and plasma screens advertising specials to the second level. Eau Claires city fathers would love to have The Menard Center, a civic and convention hub funded by the entrepreneur, but as Menards cousin Watson says, I dont see why John needs another building with his name on it; hes already got over 200., Menard is frugal at home, too. John Menard, Jr. - Taddlr Donald Trumps real net worth? All Rights Reserved. Company audits soon began finding problems with how he operated his store. 2023 Forbes Media LLC. Menards team won the Indy Racing League championship in 1997 and again in 1999. With military-like discipline, a managers absences are tightly A Merrill Lynch report last summer put the U.S. retail home improvement industry at 85 percent saturation. On Forbeslist of the worlds billionaires, he ranks 155th. The net worth is $10 billion. Woody Harrelson Wife: Meet Laura Louie. These Wisconsin Billionaires Are The Richest People In The State Tinkering with that mix in February, John Menard Jr added milk and groceries at some locations. I bought over two fork lifts of it myself, $4,000 worth, Bauman recalls, and when I got back to the store, theyd credit back the money.. Ruling by Intimidation Scrap wood that couldnt be sold was used for heat, after any nails were reclaimed using magnetic rollers. His hair color could be red, golden brown or shoe-polish black, says a former insider, explaining that one of Menards ex-girlfriends owns a salon. And Home Depot is having problems. The home office monitored every stores security cameras for at least an hour a day. Menard pleaded no contest to felony and misdemeanor charges involving records violations, unlawful transportation and improper disposal of hazardous waste. Wood treated with CCA contains chromium, copper and arsenic a known carcinogen. Helgets story found its way into the Minneapolis Star Tribune.A columnist called Menards policy, something exhumed from the Bronze Age with all its primitive logic intact. The story continued a second day when a local lumberyard offered Helget a job. His buyers were ruthless, says Baumann. The final prong became Menards racing sponsorships. Like farm kids everywhere, John learned the value of hard work and frugality. There are new treasures, says Edward S. Archibald, who left the company two years ago after a 27-year tenure that included a decade and a half as a top executive. In 2005, Menards agreed to a $2 million fine after Wisconsin DNR officials found a floor drain in a company shop that they believed was used to dump paint, solvents, oil and other waste into a lagoon that fed into a tributary of the Chippewa River. Menards offered to build a wetland more than twice its size as a replacement, but was rejected by Scott Humrickhouse, a DNR regional director. Thats well ahead of Herbert Kohler, Wisconsins second-richest man, whose estimated family wealth is $4.5 billion. Its more important for Menards to focus on what its great at: home improvement.. If John Menard was in a given city, hed do his own, often in a crude, but unintentional, disguise. So says Archibald, who added that hes spent more time with John Menard in the past 15 years than Menards own family has. Within a few years, he says, the youngest will be eligible to start receiving money from their trust funds, but paid out in 10 annual installments instead of one lump sum. Jim Doyle arranged $4.2 million in state aide to help the company expand its Eau Claire manufacturing headquarters. The Price of Success Under Menards policy, managers would see their pay cut by 60 percent if their store became unionized, notes Iowa ex-manager Faber. It was quite a struggle, Larry Menard Johns younger brother and Menards Inc. vice president and operations manager said during an August 2006 arbitration hearing. The managers wife had triplets that came early and required special attention at the University of Minnesota Medical Center. This translates into millions of dollars worth of publicity. The sanction broke the previous record fine of $1.7 million set by Menard in 1997. Scrap wood that couldnt be sold was used for heat, after any nails were reclaimed using magnetic rollers. Reflects change since 5 pm ET of prior trading day. Menard was at the racetrack, and comforted Lee Brayton, Scotts father. It took until about 1964 when we were able to sell a lot of asphalt shingles and things like that. Johns pole building customers frequently asked to buy building materials because lumberyards were closed on weekends. We didnt have any money. The Menard brothers are notorious for dressing down employees. In Lombard, there were a lot of problems. John Menard Jrs negotiating ability is so renowned, says former Indianapolis 500 champion driver Eddie Cheever, that if Menard ever spent an hour lecturing on the topic, Cheever would be there. Without time to start from scratch, John Menard Jr converted an assortment of empty retail outlets. His body language, his mannerisms, answering questions when he wasnt asked; not answering them when he was, Sissam says. Rumors circulated that Lowes would acquire Menards, but instead, it moved into Chicago in 1999 and Milwaukee in 2005. At that point, Bropst says, his new employer said youve got a store to run, and it joined in his defense. He had owned an Indy-car racing team for 25 years, beginning before Paul was born. He paid himself $20.6 million in 1998, three times more than the Lowes CEO and seven times more than Home Depots. The dispute went to mediation before a federal magistrate and was settled in Menards favor for a small cash amount. But Menard came back seeking an injunction against Bropst. To this day, Larry said, that booklet is basically our rule book.. Menards style is suggested by how he paid people: As company president and CEO, his $20.6 million pay in 1998 included a bonus equal to 5 percent of the companys before-tax profit, an arrangement he instituted in 1973. When John Menard heard about the deal, he fired Helget. Happiness isnt as easily controlled. In 2004 and 2005, while Lowes and Home Depot downsized and focused on opening smaller, 80,000- to 100,000-square-foot urban stores, Menard super-sized his new stores. Menards built new stores without having to get a bank loan. Talking to the arbitrator, Larry Menard described the companys practice of demoting managers as a benevolent act, reserved for high-potential individuals who have kind of gone astray and needed time to reflect and get their act back together.. By making some of the products he sold, he kept prices low. After 27 years, I expected more.. Many concerns have arisen concerning the treatment of Menards' employees, and how situations are handled by the company. Also in 2006: The U.S. Environmental Protection Agency issued an administrative order against Menards for damaging a Sioux Falls, S.D., stream that ran through its property by filling in 1,350 linear feet of the stream and replacing it with a 66-inch storm sewer pipe. two of them. We can see team members doing their job well or not doing their job, Larry Menard told the arbitrator. Subscribe to our Newsletter, Restaurant Listings Shes not a gifted colorist, but the price was right.. Former company insiders describe him as John Menards right-hand man. But two years ago, John Menard accused him of taking a kickback from a supplier. Even those closest to John Menard Jr are not sure what drives him. Today, the ex-employee adds, Menard heats most of the 60-plus buildings at his nearly 650-acre Eau Clare corporate headquarters by burning scrap pallets. John Menard Jr. Phone Number: Wife, Net worth, House Address, Wiki 2022 Bauman recalls Home Depot selling oriented strand board, a plywood substitute, for much less. John Menard, Jr. Facts & Wiki Where does John Menard, Jr. live? Menards store managers make an annual pilgrimage to Eau Claire to negotiate their stores budget, but couldnt budge the number much, managers say. Log in or sign up for Facebook to connect with friends, family and people you know. We'll assume you're ok with this, but you can opt-out if you wish. The products he manufactured, including dog houses and picnic tables, accounted for about a quarter of the items sold. Home Depot worried less about theft and error than the lifetime value of the customer. Yet, in his black team jacket and cap, Menard looked more like a guy who shopped Menards than a man who had the highest tax bill of any American in 2002. He is the son of John Robert Menard Sr (1917-1988). There were all kinds of one-time buys. Moreover, theyd have to pay their own attorneys fees and half the cost of the arbitrator, even if Menards was found at fault. Menards built new stores without having to get a bank loan. In 1972, he incorporated Menards Inc. and opened his first hardware store just in time to catch the building wave of do-it-yourselfers, according to industry analysts. John Menard Jr was told to ask the customer how much hed paid for the tires and to give him a refund. controlled, and suggestions to a superior are not welcome. John Menard Jr always paid attention to the littlest details, says a 1963 employee who stayed with Menards for more than 30 years. John Menard negotiated a three-year sponsorship contract that was not only a good deal for the company, but allowed his son Paul to advance his career by driving a Petree car. He developed a habit of dousing himself with cologne, says one insider. Bayern Munich is keeping pace with Borussia Dortmund at the top of the table ahead of the season-defining clash against Paris Saint-Germain on Wednesday. John Menard and his company have had more run-ins with the Department of Natural Resources (DNR) than any other Wisconsin company, state justice department lawyers wrote in a complaint against Menard in 2005. One involved a North Dakota Menards store manager. Corporate keeps a close eye on sales per customer per area, Larry Menard testified last August. Company audits soon began finding problems with how he operated his store. Menards - Wikipedia When he gets happy, I think he struggles with that. Under Menards policy, managers would see their pay cut by 60 percent if their store became unionized, notes Iowa ex-manager Faber. HBSDealer Staff. John Menard Jr. We used to joke when a letter came from headquarters that it would start with either What the F or Why the F, says former manager Bropst. Archibald demanded proof, he says, and when none was provided, walked out and never returned. Additional IRS cases show the Paul C. Menard 1985 Trust had a 2002 taxable income of $30.4 million; Mollys trust, $4.5 million. 1. Menard's net worth is $14.2 billion, making him the 145th richest person on the list. John always paid attention to the littlest details, says a 1963 employee who stayed with Menards for more than 30 years. John Menard Jr Net Worth | TheRichest John Robert Menard Jr. (born January 22, 1940) is an American billionaire businessman, and the founder and owner of Menards, a Midwestern chain of home improvement stores. John Menard Jr. has been married to Fay Obiad since 2008. Yet, in his black team jacket and cap, Menard looked more like a guy who shopped Menards than a man who had the highest tax bill of any American in 2002. He doesnt go for all these foundations and write-offs, offers former Eau Claire state senator Dave Zien. Friday 4/27/2007. It was inspired by Larry Menards Army experience during the Vietnam crisis, he told an arbitrator last August. Lets build something together, as the voiceover by actor Gene Hackman declares in Lowes ads. John Menard recalls emotional and eventful 1996 Indy 500 - NBC Sports John Willis Menard | Biography & Facts | Britannica Like farm kids everywhere, John learned the value of hard work and frugality. Menard is also a partner in Robby Gordon Motorsports with NASCAR owner/driver Robby Gordon, and is the father of NASCAR driver Paul Menard. The company notified Helget that if he ever showed up on its property again, hed be arrested for trespassing. The names of his two children with his recent wife are Paul Menard and John Menard III. The Beginning Menards store managers make an annual pilgrimage to Eau Claire to negotiate their stores budget, but couldnt budge the number much, managers say. Lawsuit Alleges Hardware Billionaire John Menard Pressured - Forbes Does the company?. John Menard age, height, weight, net worth 2023, wife, kids, gay In 1994, Wisconsin obtained a civil judgment against Menards for the unlicensed transportation and disposal of ash produced by incinerating CCA-treated lumber. The most infamous casualty of this policy was Eldon Helget, a lumber yard manager for Menards Burnsville, Minn., store. The company notified Helget that if he ever showed up on its property again, hed be arrested for trespassing. ADVERTISEMENT. Managers have to make do with very lean staffing. What is the height of John Menard? John Menard has made it clear his 33-year-old nephew Charlie Menard, Larrys son, will be his successor. The company has to come first; families get in the way., But Archibald adds, In Johns defense, the few times he has fallen for someones sorry-ass excuse, theyve stabbed him in the back and left the job anyway., Most observers suggest those occasions have been rare, however. He lives down the block from his brother, Larry, in the 1972 ranch he shared with his second wife, Paula Christine, and their three kids, J.R. (John R. Menard III), Paul C. and Molly C., until the couple divorced in 1993. He distrusts that., Johns life is his business, Archibald says. He doesnt go for all these foundations and write-offs, offers former Eau Claire state senator Dave Zien.