Update: Nov. 9, 1998

MALDEN MILLS In our edition of Jan. 8, 1996, TIME reported on Methuen, Mass., where, just days before Christmas, the 90-year-old Malden textile mill burned to the ground, apparently taking 2,400 jobs with it. But in a gesture uncommon to the impersonal world of modern business, mill owner Aaron Feuerstein kept every employee, paying full wages until the mill could be restarted. He even made good on Christmas bonuses. Despite his heroics, retooling costs and the economic pinch caused by the fire have caught up with the company. Malden is shutting down a satellite plant in Bridgton, Maine, and moving 200...

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