-
CEO Graham Walker ran Fibrebond Corp., a family-owned manufacturing company in Minden, Louisiana that was founded by his father in 1982.
Earlier this year, Walker agreed to sell the company to Eaton, a large power-management and electrical products firm, for about $1.7 billion.
As part of that deal, he insisted that 15 % of the sales proceeds — roughly $240 million — be set aside specifically to be shared with his 540 full-time employees, even though most did not own stock in the business.
The payouts are structured so that workers receive an average of around $443,000 over the next few years, with the longest-serving employees receiving the largest shares.
This was not merely a year-end bonus, but part of the terms of the sale — a way for the owner to reward decades of loyalty and contribution from the people who helped build the business.
What a boss move!CEO Graham Walker ran Fibrebond Corp., a family-owned manufacturing company in Minden, Louisiana that was founded by his father in 1982. Earlier this year, Walker agreed to sell the company to Eaton, a large power-management and electrical products firm, for about $1.7 billion. As part of that deal, he insisted that 15 % of the sales proceeds — roughly $240 million — be set aside specifically to be shared with his 540 full-time employees, even though most did not own stock in the business. The payouts are structured so that workers receive an average of around $443,000 over the next few years, with the longest-serving employees receiving the largest shares. This was not merely a year-end bonus, but part of the terms of the sale — a way for the owner to reward decades of loyalty and contribution from the people who helped build the business. What a boss move!
0 Comments 0 Shares 34 Views 0 Reviews
3
-
At a concert, Pitbull said to his audience "If you don't like the United States of America, go back to the countries that we are from, and you will see how much you appreciate the U.S."At a concert, Pitbull said to his audience "If you don't like the United States of America, go back to the countries that we are from, and you will see how much you appreciate the U.S."
0 Comments 0 Shares 39 Views 0 Reviews
3
-
Secretary of Health RFK Jr. has teamed up with Kid Rock to launch a new fitness video urging the American people to get active and eat real food, and it's been met with mixed reviewsSecretary of Health RFK Jr. has teamed up with Kid Rock to launch a new fitness video urging the American people to get active and eat real food, and it's been met with mixed reviews
0 Comments 0 Shares 71 Views 0 Reviews
3
-
Americans believe Donald Trump is doing a worse job than Joe Biden, according to three new national surveys.
A Harvard CAPS/Harris poll conducted Jan 28-29 found that 51 per cent of registered voters believe Donald Trump is doing a worse job than Joe Biden, while 49 per cent say he is doing better.Americans believe Donald Trump is doing a worse job than Joe Biden, according to three new national surveys. A Harvard CAPS/Harris poll conducted Jan 28-29 found that 51 per cent of registered voters believe Donald Trump is doing a worse job than Joe Biden, while 49 per cent say he is doing better.
0 Comments 0 Shares 48 Views 0 Reviews
3
-
Former NBA player Enes Kanter has labeled Eileen Gu a "traitor" for representing China instead of the U.S. during the Winter Olympics.Former NBA player Enes Kanter has labeled Eileen Gu a "traitor" for representing China instead of the U.S. during the Winter Olympics.
0 Comments 0 Shares 59 Views 0 Reviews
3
More Stories
Language
VN
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek
Arabic