Quokkas
Topic Author
Posts: 1327
Joined: Fri Jan 27, 2012 5:51 pm

Boss Hands Out $15m To His Staff

Wed Feb 01, 2012 3:59 am

"If the people are right, happy and doing the job properly then business will be a success."

In stark contrast to the constant chorus that workers need to tighten their belts sung by many employers, Ken Grenda decided to give something back. After selling his business former owner decided to thank his employees for the dedication and loyalty that they had shown over the years.

http://au.news.yahoo.com/thewest/a/-...3/boss-hands-out-15m-to-his-staff/

Many employers would say that the employees should consider themselves lucky to have a job with the new owners. Other employers would just run off leaving the employees to discover that their superannuation money has vanished. But it is refreshing to see that some are prepared to do more than they need to.
“Not to laugh, not to cry, not to hate, but understand.” Spinoza
 
Klaus
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Joined: Wed Jul 11, 2001 7:41 am

RE: Boss Hands Out $15m To His Staff

Wed Feb 01, 2012 11:14 am

That is really cool!   
 
bill142
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Joined: Wed Aug 04, 2004 1:50 pm

RE: Boss Hands Out $15m To His Staff

Wed Feb 01, 2012 11:22 am

I suggested doing something like this at work today with what ever's left over from our budget, instead of it being wasted on something that doesn't benefit me. Somehow I don't think my management is going to be quite as generous.
 
FingerLakerAv8r
Posts: 251
Joined: Wed May 11, 2011 12:30 pm

RE: Boss Hands Out $15m To His Staff

Wed Feb 01, 2012 12:09 pm

More importantly though... are they hiring??!!
 
wolbo
Posts: 409
Joined: Fri Mar 30, 2007 10:09 pm

RE: Boss Hands Out $15m To His Staff

Wed Feb 01, 2012 12:31 pm

This is SOCIALISM!!! This must be stopped at all cost or the World will be destroyed.  

   
 
melpax
Posts: 1727
Joined: Mon Apr 25, 2005 12:13 am

RE: Boss Hands Out $15m To His Staff

Wed Feb 01, 2012 12:34 pm

I catch a Grenda's bus most days to get to & from the train station heading to work - I was wondering why the drivers all seemed happy over the past couple of days! They are a very big operation, they were bought out by Ventura bus lines who also operate in the eastern suburbs of Melbourne - this will mean that Ventura will basically own nearly all of the bus routes east & south of the Melbourne CBD. The Grenda's are also in the process of selling a seperate bus-building business (Volgren) to a Brazilian company, so they will be coming out of this very wealthy indeed.......
Essendon - Whatever it takes......
 
Quokkas
Topic Author
Posts: 1327
Joined: Fri Jan 27, 2012 5:51 pm

RE: Boss Hands Out $15m To His Staff

Wed Feb 01, 2012 1:02 pm

Quoting melpax (Reply 5):
The Grenda's are also in the process of selling a separate bus-building business (Volgren) to a Brazilian company

I have seen Volgren built buses on the roads here in WA. Is it known whether the Brazilian company intends to keep the operation going and retain jobs in Australia?
“Not to laugh, not to cry, not to hate, but understand.” Spinoza
 
melpax
Posts: 1727
Joined: Mon Apr 25, 2005 12:13 am

RE: Boss Hands Out $15m To His Staff

Wed Feb 01, 2012 1:12 pm

Quoting Quokkas (Reply 6):
I have seen Volgren built buses on the roads here in WA. Is it known whether the Brazilian company intends to keep the operation going and retain jobs in Australia?

Sounds like they will - from what I've read, I'd doubt that the Grenda's would have sold the business to a company that would have intended sending production offshore.
Essendon - Whatever it takes......
 
dl021
Posts: 10836
Joined: Fri May 21, 2004 12:04 pm

RE: Boss Hands Out $15m To His Staff

Wed Feb 01, 2012 2:39 pm

The company sold for $400 million dollars and the owner bonused out the staff with a 3.5% bonus....fairly common and to be applauded....but it's nothing all that different.

The billionaire partner in Home Depot donated a billion dollar aquarium to the people of Atlanta, and runs the foundation that keeps it going....he donated a significantly larger portion of his profits from the sale of his business and it seems that people don't pay him the same accords....I guess cash is king.

Quoting wolbo (Reply 4):
This is SOCIALISM!!!

Nah...socialism is where the government comes in and takes the money, keeps part or most of it, and distributes it as they see fit to folks based on political calculations...What this dude did was bonus out the employees after a sale. Happens fairly often when a sale happens in a privately held company and the principal is retiring...
Is my Pan Am ticket to the moon still good?
 
DFWHeavy
Posts: 518
Joined: Thu Jul 21, 2011 5:35 pm

RE: Boss Hands Out $15m To His Staff

Wed Feb 01, 2012 3:32 pm

My company just announced an 18.4% Bonus payable in 2 weeks time. I'm so excited! My company truly does treat their employees right.
Christopher W Slovacek
 
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garpd
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RE: Boss Hands Out $15m To His Staff

Thu Feb 02, 2012 6:09 pm

The company I work for could use a page or two out of this man's book. Like most companies, they cut the work force, cut wages, increase shift lengths and make millions in profit.
We get a 1.5% annual wage rise which is well below inflation, so as it rises, living gets more and more difficult on our wages.
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