Harnischfeger Corporation.

The Harnischfeger Corporation was founded in 1884, and has two major segments: P & H Heavy Equipment Group, consisting of the Construction Equipment Group, consisting of the Construction Equipment Division and the Mining and Electrical Equipment Division, and Industrial Group, consisting of the Material Handling Equipment Division and the Harnischfeger Engineers Division. Of the $15,176,000 net profit, $11,005,000 or $.93 per share was attributed to the cumulative effect of a change in depreciation method from accelerated to straight …

…Total management compensation for the company's 14 executive officers topped 2 million dollars and averaged $154,000 per person. In conclusion, the management of Harnischfeger Corporation reaped many rewards as a result of the net profit it posted in fiscal 1984. The company showed an improved image in its centennial year, achieved fiscal targets to trigger bonuses, and showed up the company stock. Reference: Palepu, K., Healy, P., and Bernard, V. (2004). Business Analysis and Valuation Using Financial Statements. Ohio: Thomson-Southwestern.