Worcester Area Companies in the Globe 100

Filed in Business by on June 1, 2009 0 Comments

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The Boston Globe comes out with a listing of the Globe 100 and we are glad to report that the Worcester County area was represented.  The companies are ranked per the Boston Globe based on:

1) Return on average equity, a measure of how effectively shareholder money is employed;

2) One-year percentage change in revenue;

3) One-year percentage change in profit margin; and

4) 2008 revenue

The scores for each are added together and that is how the companies are ranked.  2008 was a tough year for business so it was more impressive that these companies made the list.

  • The Hanover Insurance Group – Number 69 based in Worcester
  • Double-Take Software – Number 46 based in Southborough
  • Tech/Ops Sevcon – Number 98 based in Southborough
Hanover Insurance is the holding group for The Hanover Insurance Company and Citizens Insurance Company of America.  It employs 4000 employees and indirectly 2000 affiliated agents.  Insurance may not seem glamorous but this company has been around since 1952 and has recently had its rating upgraded.  AM Best upgraded them from an A- to an A rating in the beginning of May.  This is very impressive in the midst of turmoil in the insurance and financial sectors.  If you have any interest check out their careers section which as of this writing has more than 30 job openings in Worcester.
Double-Take Software which at 46 is the highest ranked of the Worcester County companies describes itself:
Double-Take Software currently develops, sells and supports affordable software that allows IT organizations of all sizes to dynamically move, protect and recover workloads across any distance and any combination of physical and virtual server environments.
The company has reported slowing growth in 2009 but as the economy does better their license sales should continue to improve.  This slowed growth is reflected in lack of job postings in their Southborough headquarters.
Tech-Ops Sevcon is the manufacturer of the group which is pretty impressive in and of itself since it seems no one makes anything anymore.  The manufacture high quality controllers and system components used primarily for batter powered vehicles including forklifts, catamarans and even electric scooters.  They currently have no open job listings.
We look forward to seeing even more Worcester area companies making the list next year.

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