Shakin’ things up

C hange is slow in the Lebanese business world, where family owned companies are king and the boss is the boss. Modem concepts like stock options for employees and even layoffs are an anathema to most local firms. But NuSkills, a local company that does printing on promotional materials such as beach bags, pens, posters and desktop omarnents, is learning that in today’s business world old taboos often need to be broken if a company is to survive. NI’\ Between 1997 and 1999, NuSkills revenues dropped from $850,000 to $500,000, profits shrank from $500,000 to$ 130,000 and three key employees left to form rival firms. Salim Moujaess, NuSkill’s founder, knew it was time for action. One of his first items of business was the most drastic. To bolster employee loyalty, he offered Nasri Haddad, his most valued remaining employee, a 47% stake in the company. He gave a 4% share