"We are defined by the deals we don't do as much as the ones we do." This quote from James Wermers, Wermers Companies' founder, still rings true for current president, Jeff Bunker, some fifty-one years later. "Turning down business is counterintuitive, however if a proposed product, contract or customer profile does not meet our underwriting, we decline," Bunker said. "Our philosophy: One bad deal can erase ten good deals."
While staying true to the founder's vision and values is of utmost importance to Bunker, that doesn't mean he's stuck in the past. In fact, one aspect of the future is of particular interest. "Green construction and sustainable design is part of the Wermers family legacy and something our team is dedicated to every day," Bunker said. "The U.S. Green Building Council reports that by 2010, the value of green building construction is projected to increase to $60 billion, and Wermers is committed to doing our part. This year our team has started construction on one of the greenest multifamily projects ever designed."
Bunker said he wishes every decision in business was as simple for him as the decision to get into the green building market. "The toughest decisions leaders are faced with are typically related to relationships with their people," Bunker said. "The decision to train, transfer, or terminate underachievers can be difficult for any company executive. My biggest mistake in the last five years was leaving a long-time, loyal employee in a position that he was not capable of adequately filling. Productivity suffered. Employee morale suffered because every other employee was forced to pick up the slack. Eventually we did ask the employee to leave. What I learned: hiring, firing and inspiring employees is critical to business success."
In addition to having good people, Bunker knows the value of communication. "I'm old school and I prefer face-to-face meetings and handshakes over impersonal technology. I finally gave in and purchased a Treo for myself and others in the company. I admit it-it was a smart decision for the company. The Treo-any smart phone in general-helps busy executives maintain contact with teams and customers 24/7."
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