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RESOLUTION NO. 1798 -90 <br />A RESOLUTION OF THE COMMON COUNCIL AND THE MAYOR <br />OF THE CITY OF SOUTH BEND, INDIANA, PUBLICLY COMMENDING <br />LEO J. McKERNAN FOR THE HONOR OF BEING FEATURED ON THE <br />COVER OF THE JULY 16, 1990 ISSUE OF FORTUNE MAGAZINE <br />WHEREAS, the Common Council and the Mayor of the City of South <br />Bend, Indiana, notes with pride that Leo J. McKernan was featured in <br />the July 16, 1990 Fortune Magazine article as one of the "new <br />turnaround champs;" and <br />WHEREAS, Leo J. McKernan has served as the Chief Executive <br />Officer of Clark Equipment Company since 1986; and <br />WHEREAS, Clark Equipment Company was suffering from deep <br />financial troubles when Mr. McKernan became Chief Executive Officer; <br />and <br />WHEREAS, due to his leadership over the past four years, the <br />company is now so profitable that Mr. McKernan has been recognized as <br />a "turnaround champ" by Fortune Magazine; and <br />WHEREAS, Mr. McKernan chose to rehabilitate the company instead <br />of liquidating it or merging it with other companies, thereby <br />maintaining jobs, pension and health care benefits for the employees <br />of Clark Equipment Company; and <br />WHEREAS, Mr. McKernan is a resident of the City of South Bend, <br />with corporate offices in downtown South Bend; and <br />WHEREAS, Mr. McKernan has brought national recognition to <br />himself, his company and the City of South Bend. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the <br />City of South Bend, Indiana, as follows: <br />SECTION I. The Common Council and the Mayor of the City of <br />South Bend, Indiana, on behalf of all of the citizens of the City, <br />hereby publicly commend Leo J. McKernan for the honor of being <br />featured on the cover of the July 16, 1990 edition of Fortune <br />Magazine. <br />SECTION II. The Common Council and the Mayor believe that the <br />exemplary performance by Mr. McKernan has brought the highest of <br />honors to himself, his company, and to the entire City of South Bend. <br />SECTION III. This Resolution shall be in full force and effect <br />from and after its adoption by the Common Council and approval by the <br />Mayor. <br />AT1'E T: <br />Y � <br />Irene Gammon, City Clerk <br />an <br />Joseph E. Kernan, Mayor <br />