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Byline: KIRK SHINKLE
Sometimes just a handshake is the best contract, even in tough times. Just ask Louis and Frederick Upton.
The pair, along with their Uncle Emory, founded Upton Machine Co. in 1911 inside a machine shop in St. Joseph, Mich.
Decades later, their new product -- the electric washing machine -- would crisscross the globe under the brand name Whirlpool.
In the early years, they had to rely on strong relationships just to keep their company afloat.
In 1916, Louis met with Julius Rosenwald, president of Sears, and went into business selling the new machines. They forged the deal with a handshake, not a contract, and it was the start of a relationship between the two that endures today. The first Upton machines were sold for the then mail-order-only Sears.
Early on, the venture was a success. Two models were listed, for $54.75, and a deluxe model cost $95. They were an immediate success, and the Uptons' factory could barely keep up with demand.