Press Release
January 1, 1999

Granite Rock Company Named to Top 100 List

Local Firm Listed on "100 Best Companies to Work for in America"

In Fortune magazine’s second annual evaluation of America’s workplaces, Granite Rock Company was named to the “100 Best Companies to Work for in America.” The ranking, which will appear in the January 11th issue of Fortune, was compiled through extensive research, analysis, and a survey of more than 27,000 employees at hundreds of companies nationwide. The Top 100 includes eighteen high tech firms, ten financial services companies, five insurance firms, and five catalog retailers. Graniterock was the only construction industry firm to make the list.

Fortune commissioned best-selling authors Robert Levering and Milton Moskowitz to compile the list, using methodology similar to that used for their books to assess “great workplaces.” For the Fortune list, Levering and Moskowitz screened more than 1,000 companies and then invited 295 companies to participate in the evaluation process. To be eligible, companies must have more than 500 employees and have been in business for at least 10 years.

Candidate companies were rated on a 175-point scale. Employees participated in a scientific random sample survey process regarding their work environment, trust in management, pride in work, and camaraderie. Each participant company completed a 31-page inventory of human resource polices and practices, such as hiring, promotion, compensation, and recognition. The employee survey results and an assessment of the inventory were used to determine final company rankings.

Granite Rock Company appeared with well-known and respected employers such as Hewlett-Packard Company (#10), J. M. Smucker (#22), Marriott International (#44), Nordstrom (#98), Federal Express (#79), Southwest Airlines (#4), and Wal-Mart Stores (#66). In the list of 100, Graniterock’s ranking was 33. Granite Rock Company also appeared on Fortune’s list last year.

Graniterock is among the smallest firms to make the list. The median TOP 100 firm had 5,520 employees and sales of $1.3 billion. Graniterock has 610 employees.

Granite Rock Company was founded on Valentine’s Day, February 14, 1900. The Company is in the process of planning for its 100th Anniversary in February, 2000. Graniterock has operations in Watsonville, Santa Cruz, Seaside, Salinas, Hollister, Aromas, Felton, San Jose, Redwood City, and So. San Francisco. The company’s Pavex Construction division is a significant regional heavy engineering contractor building roadways, airports and private commercial and residential projects.

Visit Fortune’s web site for the list of the Top 100 companies and other related information.

For more information, contact:
Bruce W. Woolpert, Graniterock, 831.768.2001
Meredith Halpern, Fortune, 212.522.6724