Winnebago Industries

Winnebago Industries was founded in the late 1950s as Modernistic, Incorporated, a California-based travel trailer manufacturer which opened a facility in Iowa at John Hanson's urging. Hanson later became president of the company, renamed it Winnebago (for a tribe of local Native Americans), and built a company that became closely identified with motor homes. The company was listed on the New York Stock Exchange in 1970, and saw a 462 percent increase in its stock price in the first 12 months of its listing. Clearly, the motor home industry had struck a chord with many Americans ("1996 Annual Report," 1997, p. 2).

The motor home industry prospered during the early 1970s as the industry emphasized the convenience of motor homes with traditi

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orked directly into duplication and satellite uplink operations. Cycle-Sat was connected to more than 550 broadcast stations and cable systems across the nation, and was an industry leader in providing tape duplication and high capacity digital delivery of television and radio commercials even when under Winnebago's control. The deal resulted in a $57 million inflow of cash to Winnebago from the purchaser, Vyvx, and was seen by analysts as a strong move forward for both companies (Tuttle, 1996, p. 1122B0994). There has been considerable speculation about the future of Winnebago Industries since the death of its founder in 1996; however, as management officials pointed out to a gathering of dealers in August 1996, the management team currently in place has been running the company since 1993, and has overseen the company's recent prosperity. Of concern also was the disposition of Hanson's stock ownership which, when combined with his wife's, amounted to 42.5 percent of the company's outstanding stock. The shares remained with Hanson's widow and the Hanson foundation, a charitable trust founded in 1971. The family has not expressed any desire to divest its shares in the meantime (Goldenberg, 1996, p. 7). Marketing Winnebago Ind
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