John Bassett on business philosophy

About John Bassett

John Bassett III, chairman of Vaughan-Bassett Furniture Company, has spoken publicly about his company's efforts to compete with Chinese furniture imports. He stated that after China joined the World Trade Organization in 2001, prices plummeted and his company decided to keep manufacturing in the United States. Bassett said the company formed a coalition of 29 companies and spent $55 million on litigation alleging that Chinese manufacturers were violating international trade rules, and that the effort was successful. He described his company as "100% domestic made" and said it is "one of the last of the solid wood furniture makers" in the United States, employing 700 people in Galax, Virginia. Bassett has discussed his management philosophy, which he said includes rules such as maintaining a winning attitude and providing leadership by example. He said the company invested $6.5 million in an automated rough mill, reassigning affected employees without cutting pay and reducing headcount only through attrition. During the 2008 financial crisis, he said the company created a free clinic for employees and their families to retain its workforce. Bassett has also commented on the millennial generation, stating that they "may not work as long hours as before, but they are better fathers and better with their children." He is the subject of the book "Factory Man" by Beth Macy, which he described as "the most famous furniture book that's ever been written."

Profile compiled from John Bassett's verified public interviews and appearances. See all quotes & transcripts →