festool stock

[fsg]

Does anyone know if festool is on the New York Stock Exchange. If so what is the ticker symbol. My grandfather always said invest in companies that you believe in and use there products.

 

[Dan Lyke]

Festool is privately held.

 

[Bob Marino]

Festool is privately held.

Correct - in fact, I think family owned.

Bob

 

[Dan Clark]

Bob,

Trivia question: What is the name of Festool's Chief Engineer?  ;D

Dan.

 

[Dan Clark]

I believe that a key reason that Festool has come this far and maintains its competitive advantage is that it is a family-owned business.  Most (all?) corporations by their nature are concerned with stock price and management are driven by stock options (whose value is DIRECTLY related to stock price).

Festool, being privately held, is concerned with more fundamental values like inherent quality, reliability, engineering excellence, and customer satisfaction.  I know that these are bizarre concepts that most corporations don't understand, but I'm happy that they still exist in today's world. 

At one point several months ago, I was a little concerned that Festool might fade away.  In a thread, I posted something like, "I appreciate good quality.  After a lifetime of buying second (or third) best, I now appreciate and can afford high-quality tools.  So what do I buy if Festool goes away?!?"

I'm happy to see that I was worried for nothing.  I truly enjoy seeing Festool succeed.  Tools like the Domino and Kapex indicate that they haven't lost their edge.  They may be expensive, but if I choose to spend the money, Festool gives me a great place to spend it and know that I'm getting value for my money.

Regards,

Dan.

 

[Bob Marino]

Bob,

Trivia question: What is the name of Festool's Chief Engineer?   ;D

Dan.

Well, the head of Festool's R&D is Dr. Steimel.

Bob

 

[ROb McGilp]

Does he have another job he does Stiemeltaneously?

 

[brandon.nickel]

Oh, the pain, the pain...