The Life of Gregory Aziz and National Steel Car

Gregory J. Aziz is among the well-recognizable individuals in the business world of North America. He is the chief executive officer, president and the chair of the National Steel Car, which is based in Ontario. The enterprise is one of the worldwide leaders in the engineering and manufacturing for railroad freight cars. Born in 1949, Greg James Aziz studied at Ridley College. Subsequently, he proceeded to the University of Western Ontario where he earned an economics major.

 

James made his career debut in 1971 when he joined Affiliated Foods, a family wholesale food enterprise. Within twenty years, the firm grew to be among the leading importers of fresh foods from South and Central America and Europe. Moreover, the firm’s distribution network grew astoundingly to stretch across the United States and the east of Canada. Later on, Gregory James Aziz proceeded to the investment banking industry in New York where he assumed various leadership roles in several institutions.

 

Through his experience in the finance, economics and business world, Greg Aziz successfully made an acquisition of the National Steel Car from Dofasco in 1994. His prime intention was the restoration of the once great firm to its previous performance status as well as grow the company into a leading railroad freight car manufacturing business across North America. At National Street Car, Gregory Aziz made emphasis on its team building, engineering capacity, human and capital investments, all which are vital in expanding the company.

 

On purchasing National Steel Car, Greg saw the firm’s production capacity rise from a mere 3,500 units to staggering 12,000 freight car units by 1999. In just about the same period, the firm’s workforce grew from 600 to around 3,000 employees. Due to Greg’s pursuit of the company’s engineering and manufacturing excellence, it is currently a leader in production and innovation of thousands of freight car units annually. See More Info Here.

 

Aside from his business interests, James Aziz and his company, National Steel Car commits to the Hamilton community through profound philanthropic activities. In the area, he sponsors the Salvation Army, the Hamilton Opera, the United Way as well as the Theatre Aquarius among other charities. Every year, the National Steel Car conducts a company Christmas party as well as a food drive for Hamilton food banks. Interestingly, current and past employees of the National Steel Car grace the event. His family, in addition, sponsors the Royal Agricultural Winter Fair, which is the largest agricultural fair in Canada. Greg James Aziz’s family is also well known for their love and support for the equestrian sport.

The Success Story of Gregory James Aziz

Greg James Aziz is known in the world of business as one of the most successful and inspirational businessmen. National Steel Car is headed by him, and this company is responsible for the best railroad freight car engineering and manufacturing in North America. Greg is the President, Chairman & CEO of National Steel Car. Greg’s rise as one of the most successful businesspeople in the world is one that is full of inspiration and lessons. To get an idea of how hedid it, how Greg Aziz achieved so many of his goals as an entrepreneur, first we must look back to where he came from.

 

Born in London on April 30, 1949, Greg J Aziz studied at the University of Western Ontario with a major in Economics. Greg Aziz started developing his business mind from his younger years. His first venture to in business is when he joined the wholesale business of his family named Affiliated Foods. Right now, Affiliated Foods is a major food company that distributes its products across the Americas from Europe, but the company wasn’t always such a successful business project. Part of the success of the family business of Aziz came from the participation of Gregory Aziz.

 

Always seeking to grow and expand his knowledge. Greg went to New York in the 80s and found himself in the world of investment banking in the 90s. Proving success in the investment banking field, he was able to purchase National Steel Car in 1994 from Dofasco, and because of his leadership, the company increased its growth from 3,500 cars each year to 12,000 within five years. The number of jobs the company provides also increased from 600 to 3,000.

 

National Steel Car now has more than 100 years of experienced and throughout all those years, they have consistently been honored by awards. Greg’s company has been the top railroad freight car manufacturer in North America for 18 years now. Click Here For More Info.

 

Greg knows that he also owes his success to the people around him and the community he serves, so he and his wife always make sure to give back and help the people with charitable actions and donations. Greg and his wife are known philanthropists and two of the biggest ones around their neighborhood, and are also the sponsors of the Royal Agriculture Winter Fair among many other causes.

 

Right now, Greg Aziz continues to lead National Steel Car and his employees.

Related Article: https://www.behance.net/greg-aziz

Jeremy L. Goldstein’s Fresh Look on Options – The Knockout

Why do companies hesitate to give stock options to employees? There are many issues here. Let’s examine three of them.

 

The first is that the value of the stock may plunge to a level where it will be disadvantageous for employees to exercise their option. The companies and employees are, however, required to report the associated expenses, creating an extra burden.

 

In the opinion of some employees, these options are more like casino tokens than real cash.

 

The staff prefers getting higher salaries rather than these options. The options create an added accounting burden and become a financial disadvantage.

 

These options also have their benefits. It is easier for the staff to understand stock options in comparison to additional salary, equities, etc.

 

One important aspect is that the value of the option is directly related to the success of the company. This, in turn, will encourage employees to put in more effort toward the company’s success.

 

The tax structure favors companies to give out option as opposed to shares.

 

One solution is the give what is known as a “knockout” option. These will be time bound and also lose its value if the share falls by a defined amount. E.g., an employee will receive an option allowing her to buy the stock at $150. If it is the “knockout” kind, it will expire if the value of the share drops below, say, $75.

 

 

Jeremy L. Goldstein is a partner at Jeremy L. Goldstein & Associates. This is a “boutique” law firm with a specialty in advising compensation committees, CEOs, management teams, and corporations regarding matters of compensation and corporate governance.

 

Jeremy Goldstein chairs the Mergers & Acquisition Subcommittee of the Executive Compensation Committee of the American Bar Association Business Section. He is a well-known speaker and writer on his specialty.

 

Jeremy Goldstein is a member of the Professional Advisory Board of his alma mater, NYU’s Journal of Law and Business. He is also active in several charities.

 

Connect with Jeremy Goldstein on LinkedIn.