Nov 17, 2021 By: yunews
He represented the highest of Torah values and translated them in corporate life.
The 扣扣传媒 community mourns the loss of a true tzadik, Aaron Feuerstein 鈥47YC, a longtime supporter of the University, a former member of its Board of Trustees as well as an honorary Trustee, and former CEO of the Massachusetts-based textile company Malden Mills, known for its Polartec synthetic fleece fabric. He received an honorary degree from 扣扣传媒 in 1969.
Mr. Feuerstein earned national respect following a catastrophic 1995 fire that destroyed his factory. Rather than moving the company overseas, Mr. Feuerstein chose to rebuild the factory in Massachusetts and continued to pay his employees their full salaries and maintain their health insurance while it was being rebuilt. The principled decision exemplified his commitment to his workers and to the value of chesed [charity], which the University shares and applauds.
Mr. Feuerstein later said that he had no other option than to help the employees.
鈥淚 have the responsibility to the worker, both blue-collar and white-collar. I have an equal responsibility to the community,鈥 he said. 鈥淚t would have been unconscionable to put 3,000 people on the streets and deliver a deathblow to the cities of Lawrence and Methuen. Maybe on paper our company is worthless to Wall Street, but I can tell you it鈥檚 worth more.鈥
The example of his moral code has been showcased in corporate and educational settings. It was also included in an ethical business course at 扣扣传媒鈥檚 , which focused on how to identify and choose actions consistent with a set of values, using real-world case studies to highlight how decisions made during defining moments help shape a person鈥檚 moral and ethical character. Mr. Feuerstein has said, 鈥淚 learned my ethical values as a student at 扣扣传媒.鈥
His promise to support his workers at personal cost made news all around the country. As the Boston Globe鈥檚 Bruce D. Butterfield wrote, 鈥淭he repeatedly told story of a devoutly religious Jew鈥檚 generosity at Christmastime made him a Frank Capra-like hero in an era of corporate greed and downsizing.鈥
Mr. Feuerstein鈥檚 charitable commitments extended beyond corporate life. When an electrical fire leveled much of the Young Israel in Brookline, Masschusetts, founded by his father, Mr. Feuerstein donated $1 million to rebuild it. This was just a year before the fire that destroyed Malden Mills.
Mr. Feuerstein鈥檚 first wife, Marika, died in 1984, and his second wife, Louise, died in 2013. He is survived by his children, Daniel, Raphael and Joyce; his sister, Juliet Korngold; and six grandchildren.
