(8 Total References)
Kenai Peninsula Online - Alaska NewspaperAlaska Seafood International lays off half its workers 04/09/02
Russell Schreck, ASI's new chief executive and board chairman, said the number of layoffs given by his production manager and other sources were not accurate, but he would not be specific.
"We got rid of some dead wood," Schreck
said several sales for the seafood plant are pending, but refused to give additional information.
"We are a private company," Schreck
That's not entirely the case.
The Alaska Industrial Development and Export Authority has invested about $50 million in ASI
and owns title to the company's buildings and land.Alaska law requires the Legislature to approve AIDEA projects of more than $10 million.
The investment by the state beginning in 1993 was made to create new markets for Alaska seafood products and with a promise of 450 year-round, full-time jobs. ASI
, however, has been hampered by financial problems from the onset.
Alaska Journal of Commerce: State sinks another $2.5 million into ASI plant 10/21/02
Russell Schreck, who had been with the seafood company since last year, is no longer employed by the ASI, which markets products under the Great Alaskan Seafood Co. label.
Neither McMillan nor Fitzpatrick would discuss Schreck's departure from the company.
Fitzpatrick acknowledged the 202,000-square-foot seafood plant has suffered many setbacks in its short history but said the company is on the verge of a turnaround.
"The goal is to get back to cash-positive," Fitzpatrick said."It won't happen until next year."
The San Diego dietary supplement company, whose flagship product, Metabolife 356, contains the controversial herbal stimulant ephedra, confirmed yesterday that it has named Russell Schreck as its new CEO.
...Metabolife spokeswoman Jan Strode said the company hired Schreck to "expand its business horizons into other segments of the dietary supplement industry."
was not available for comment yesterday, and Metabolife did not respond to requests for Schreck's resume or specifics of his
...A search of the Internet and corporate records identified Schreck as an associate with The Scotland Group, a crisis management consultancy that provides seasoned executives to "underperforming and distressed companies."
A spokeswoman for The Scotland Group
, which has offices in Newport Beach and San Francisco, said Metabolife
is not a client.But associates with The Scotland Group
are independent contractors who often serve troubled companies that aren't Scotland clients, she
said. In June 2002, Schreck was serving as chief executive of Alaska Seafood International, a financially troubled seafood-packaging plant in Anchorage.
The majority owner of that private company is Sunrise Capital Partners
, a New York investment firm that specializes in turning around troubled businesses. Schreck also served as president of Dynasty Classics Corp., a maker of lighting products that filed for Chapter 11 bankruptcy in 1993.Schreck, then a turnaround consultant, became president of Dynasty after the filing.
Strode said Schreck
is "brought into companies to make them more viable and valuable, or to take them to a higher level."
is currently preparing a launch of some additional Metabolife products into the 'wellness' category," she
The Scotland Group, Inc. - Russ Schreck
has over 20 years of executive level leadership in manufacturing and international corporations.Mr. Schreck began his career as Executive Vice President/Vice-President of Finance for a $620 million financial service and manufacturing firm.He
was able to produce a high level of profitability from the firm because of the imaginative manufacturing techniques he
employed, the operational produce development processes that reduced manufacturing costs by 21% ($3.6 million) and the ability to source funds at blow market level rates.
As President of a $4.5 billion multi-industry international corporation, Mr. Schreck
held full accountability for the operations, sales, marketing, finances, and strategic planning of the company.He led the organization through a six-year period of record financial performance and international market diversification directing the group to a 32% compounded annual profit increase through a series of successful reengineerings, business start-ups and turnarounds and led the development of a manufacturing company from start-up to the second largest in the industry.Mr. Schreck
designed and implemented a cutting edge market segmentation and product development program for a consumer products company resulting in a 66% increase in market share within a declining market.Mr. Schreck has also served as President of a $450 million public corporation which manufactured and distributed electronics and consumer electronics.Mr. Schreck served as a multi-tiered interim executive of this public company and lead it through the reorganization, disposition and liquidation of a Chapter 11 filing.He
was able to lead the company to profitability within the first three months and subsequently company hit record sales and profits.Under his
launched a series of pioneering programs in productivity and performance improvement and increased profitability and revenue per employee to 17% above industry norms while reducing head count by 50% and decreasing the break-even level by greater than $10 million.Mr. Schreck
built annual sales from $20 million to $170 million in four years and implemented domestic and international product inspection and manufacturing review programs, which reduced defects by 21% and increased on-time delivery by 14%.Prior to working with The Scotland Group, Inc., Mr. Schreck served as Managing Partner of an executive consulting firm specializing in business process improvements, change leadership, business transformation processes (including liquidation), interim senior executive assignments and mergers and acquisitions.He
has developed strategy formulations and designed management solutions through competitive advantage analysis, analyzed complex business issues while developing and implementing innovative business solutions to enhance the company's operating performance and completed corporate acquisitions and strategic alliances to accelerate the client firm's growth.Mr. Schreck has also served as an expert witness and arbitrator of disputed business decisions. Mr. Schreck received his BS in Finance and Engineering and his MBA from San Jose State University.
Anchorage Daily News | Fish plant cut work force after big order was complete
The plant, which makes products like breaded salmon and halibut portions, had too many workers once a large order to retail giant Sam's Club was filled, so some people were let go, said ASI chief executive Russell Schreck.
The layoffs occurred three weeks to a month ago, he
added that he
couldn't say how many workers had been laid off and how many had already been hired back.
"To have my people spend a few hours putting all that together -- who's gone, who's come back, how many net (layoffs) -- if your newspaper is willing to pay for that, I'll have my accounting people do it," Schreck
said."You guys must be hard up for news.This was something that happened weeks ago and was a nonevent." Schreck
was quoted this week in a story in the Alaska Journal of Commerce
as saying the company "got rid of some deadwood." ASI
occupies a $50 million, 202,000-square-foot building near the Anchorage airport.It was erected with state funds with an eye toward creating 400-plus manufacturing jobs.
The state, via the Alaska Industrial Development and Export Authority, is a 20 percent owner of the company and ASI
's landlord.The agency bought into the company after ASI
nearly collapsed amid financing troubles after its start-up in late 1999.
, who specializes in turning around struggling companies, was brought in by Sunrise Capital Partners
, a New York investment firm that spent $5 million about a year ago for a 51 percent stake in the stalled seafood company. ASI
is marketing products under the brand name Great Alaskan Seafood Co.
Last November, ASI
executives said the company employed 140 people.Schreck
said Monday he
would provide the number currently working at the plant, but he
didn't supply the figure by the end of the day.
disputed Poe's assessment, saying the company is actually running even with or ahead of its budget. He
added that ASI
has a lot of new orders coming in and that it expects to rehire all the workers who were let go.