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StyleMaster Inc. founder Martha Williams and a business partner will repurchase the assets of the bankrupt injection molding company and plan to file a reorganization plan this summer.
Ms. Williams, Stylemaster president and CEO, and Bill Bailes...
Martha Williams, StyleMaster's owner and chief executive officer, said she plans to add almost 400 new employees to her current 50-member workforce over the next two years.The company plans to add a second building, of 750,000 square feet, as part of the $50 million project. "I know I speak for my partners as well," said Williams, "when I say that Gateway Park will be a portal to opportunity for the residents and businesses of Chicago.My heart is filled with gratitude to all those who have helped me realize this dream." She specifically thanked Mayor Daley; her partners, Bill Bailes and Michael DePaul; customers such as Kmart, Wal-Mart, and Target; Jim Capraro, executive director of the Greater Southwest Development Corporation, Aldermen Edward M. Burke (14th), Theodore Thomas (15th) and Thomas W. Murphy (18th). Martha Williams and StyleMaster bring not only jobs and economic prosperity, but also a fighting spirit, a will to succeed in spite of long odds." Williams grew up in public housing in Chicago, and took a job in a plastic injection molding plant in suburban Niles.Within eight years she was the plant manager of a multi-million dollar manufacturing company.In 1991 she founded StyleMaster, which has produced and distributed products from leased and rented buildings throughout the Chicago area and northwest Indiana. Home | About the Mayor | Business | News | GovernmentEducation | Neighborhoods | Email
76. Ms. Martha Williams ("Williams") isthe current president of Stylemaster.As of Stylemaster's filing in 2002, Ms.Williams was the president, chief executive officer, and chief operating officer of Stylemaster.At allrelevant times, Ms. Williams was responsible for contacting vendors and authorizing the purchase of molds onStylemaster's behalf.Ms. Williams was also responsible for Ms. Williams would contactMs. Williams would alsosubmit drawings and other documents pertaining to the design of each mold.Ms.Williams would also seek the advice and input of Mr. Raymond C. Wenk, Sr.95. Ms. Williams was responsible forfinal approval of all molds manufactured for Stylemaster or its predecessor ininterest. (Pl.'s Finding of Fact ¶ 18; Def.'s Finding of Fact ¶ 18.) Ms.Williams approved the final samples of the Cost Reduction Molds in issue here.specified by Ms. Williams.In most instances, Ms. Williams directed CostMs. Williams would submit design drawings andspecifications.CME wouldthensubmitaquotation.Laverty would meet with Ms. Williams to discussAs Ms. Williams testified, she didMs. Williams testified that Stylemaster paid for repairs when the problems werecaused by Stylemaster's faulty designs. (For example, Stylemaster designed onemold with the wrong dimension on the stacking rib, (Williams Reopened Tr.8/19/02 at 113-114.)) Ms. Williams further testified that CME or Cost Reductions111. Sometime in 1999, Ms. Williamsdesigned a new product line referred to as the Contempra Line Molds. (WilliamsReopened Tr. 8/20/2004 at 63-65.) Ms. Williams discussed the new product lineTanner and Wenk, and also Ms. Williams,Ms. Williams and Mr. Wenk testifieda letter to Ms. Williams describing his recommendations concerning Mold WX0200'sperformance. (Def.'s Reopened Ex.43.) After receiving these documents, Ms.Williams contacted Cost Reductions to make sure that Cost Reductions would payfor all repairs relating to this mold.Ms. Williams testified that she did notbelieve the Mold was incapable of producing the parts Stylemaster required, butshe was concerned about maintenance issues. Ms. Williams testified that althoughMold WX02000 had several defects, the mold was put into production and producedover a million plastic products. (Williams Reopened Tr. 8/23/04 at 29-30.) After the defects were brought toMs. Williams' attention, Stylemaster continued to make payments for MoldWX02000.Ms. Williamstestified that Stylemaster submitted inaccurate design information. (WilliamsReopened Tr. 8/19/02 at 114.) Stylemaster, for example, designedonemoldwiththewrongdimension on the stacking rib. (Williams Reopened Tr. 8/19/02at 113-114.) CME made changes to these molds at the request of Ms. Williams.(Pl.'s Reopened Ex.71 SMR 00762-00768.) Ms. Williams accepted the molds afterthe changes.corroborates Ms. Williams' testimony. It must therefore be concluded, that7/ Ms. Williams testified that eachmold was put into production as fast as possible to enable the product to reachthe market. 8/ Ms. WilliamsFor instance, Ms. WilliamsofMr. Wenk who testified that Ms. Williams asked Matrix to serve as Williams as towhichmolds principal's representative, Ms. Williams, contradictedMr. Wenk's testimony.She stated thatA: I said if I were you, Martha, onsome of these, I would definitely reject these molds. Q: Do you know if she ever did that? A: I know she didn't do that.
Martha Williams, a partner in Gateway Inc. and chief executive officer of Stylemaster Inc., a manufacturer of injection- molded plastic storage products, and the nation's largest manufacturing company owned by an African- American woman, had grown up in the Robert Taylor Homes and had to travel four hours every day to reach her first job in plastic manufacturing.
As a result, she was committed to building her plant in the heart of the city, close to a population in need of work. She convinced her partner, William Bailes, of the wisdom of creating a new industrial park in Chicago. In June 2000, Williams, Bales, Jim Capraro, executive director of Greater Southwest Development Corporation, and Mayor Richard M. Daley stood together at the groundbreaking. Martha Williams and StyleMaster bring not only jobs and economic prosperity, but also a fighting spirit- a will to succeed in spite of long odds."
Statement of Martha Williams Founder, President and CEO, StyleMaster, Inc.On The Sale of StyleMaster, Inc.April 22, 2002 CHICAGO, April 22 /PRNewswire/ -- At the conclusion of a Chapter 11 bankruptcy sale today in which Martha Williams and her partner Bill Bailes were able to re-buy the assets of their company, Williams issued the following statement: CHICAGO, April 22 /PRNewswire/ -- At the conclusion of a Chapter 11 bankruptcy sale today in which Martha Williams and her partner Bill Bailes were able to re-buy the assets of their company, Williams issued the following statement: