gives $15 million bonus to staff

I always give my staff a bonerus

Paradise found.

Good on ya, mate

Socialist Pig.

stunned his employees by handing out Aus$15 million (US$15.9 million)

USD is worth less than AUD?

*Sigh*

FTA: They received an average $8,500

nice, but not newsworthy.

People look for all kinds of foolproof ways to launder money these days.

Can you imagin what Mitt Romney would have done with this opportunity had it been his company?

micah1701: FTA: They received an average $8,500

nice, but not newsworthy.


They received an average $8,500 although some got bonuses as high as $100,000.

EdNortonsTwin: Can you imagin what Mitt Romney would have done with this opportunity had it been his company?

Private equity usually reserves a 20% stake for management and key employees. It provides incentive for them to increase the value of the company and share the payday when it's sold.

Reverend J: stunned his employees by handing out Aus$15 million (US$15.9 million)

USD is worth less than AUD?

*Sigh*

Well, right now 15,000,000 CAD will get you 14,986,700 USD, so you guys are totally kicking our asses, dawg!

Don't let him get away with this!

Occupy Melbourne!!!

Well, if the new owner shiatcans everyone they may need it. just sayin.

SisterMaryElephant: Socialist Pig.

Please state how he is being socialist?

He received the money, he distributed according to his own accord without being forced to do so.

MrBigglesworth: SisterMaryElephant: Socialist Pig.

Please state how he is being socialist?

He received the money, he distributed according to his own accord without being forced to do so.

Your sarcasm detector is broken

micah1701: FTA: They received an average $8,500

nice, but not newsworthy.

When Paris Hilton went to jail TV stations broke in with live coverage. What's newsworthy has very little to do with what gets reported.

Why Would I Read the Article: MrBigglesworth: SisterMaryElephant: Socialist Pig.

Please state how he is being socialist?

He received the money, he distributed according to his own accord without being forced to do so.

Your sarcasm detector is broken

Broken? More like completely missing.

cchris_39: EdNortonsTwin: Can you imagin what Mitt Romney would have done with this opportunity had it been his company?

Private equity usually reserves a 20% stake for management and key employees. It provides incentive for them to increase the value of the company and share the payday when it's sold.


More likely he'd find a way to suck it dry, and leave tax payers holdking the bag:

Link (new window)

"A Missouri steel company in which former Massachusetts Gov. Mitt Romney's (R) Bain Capital was the majority shareholder went bankrupt, laid off more than 750 workers, and had to turn to the federal government for a bailout of its pension funds in 2001, according to a special report from Reuters."

Let's just call the generous bus company owner what he is. A godless-pinko-commie.

Only outside America.

Boss' son: D'OH!

/didn't RTFA
//that's like 19.2 million New Zealand, bro

DLTBGYD: micah1701: FTA: They received an average $8,500

nice, but not newsworthy.


They received an average $8,500 although some got bonuses as high as $100,000.

$100k!?! Minimum wage is like $15 grand per year. We need regulations to stop these excessive bonuses. Company owners shouldn't be allowed to decide what to pay their employees, amirite?

Nice man being nice deserves to be noticed. Although I doubt he was vying for publicity. The truly nice just do it for the warm fuzzies.

My CEO gave us a coozie with the company logo and a stress ball in the shape of a muscleman. Over the years he has given us any number of useless chinese made lead filled crap. Rather he just save his money on that stuff and just slip an extra $5 in my check.

Even the poofters?

pudding7: micah1701: FTA: They received an average $8,500

nice, but not newsworthy.

The newsworthy part is that he gave $15million to his employees when he was under no obligation to do so.

yeah. jesus h. 8500 would totally clear away my credit card(s) debt and still leave me with enough for a vaca in Vegas. In my life 8500 dollars is newsworthy.

What dick, he just put them in the 1%

My company gives nothing back.... Hell its sending all our jobs to India in a few months. Funny thing is, they make such a big deal about being such a local...."LOCAL" business.

They se to be OK until they were bought by a bigger company. Honestly I think our own businesses are not better than cancer.

Olympus Mons: My company gives nothing back.... Hell its sending all our jobs to India in a few months. Funny thing is, they make such a big deal about being such a local...."LOCAL" business.

They se to be OK until they were bought by a bigger company. Honestly I think our own businesses are not better than cancer.

They need the extra profit for their private schools, and gated communities. *shrugs*

cbackous: nomorelurking: pudding7: micah1701: FTA: They received an average $8,500

nice, but not newsworthy.

The newsworthy part is that he gave $15million to his employees when he was under no obligation to do so.

yeah. jesus h. 8500 would totally clear away my credit card(s) debt and still leave me with enough for a vaca in Vegas. In my life 8500 dollars is newsworthy.

spend the rest of the money on a "vaca" to Vegas?

Good financial planning there lou.

Having grown up around a lot of Spanish-speakers, whenever I see someone spell it "vaca" instead of "vacay" I like to pretend they're talking about a cow. It makes them sound marginally less retarded.

DLTBGYD: micah1701: FTA: They received an average $8,500

nice, but not newsworthy.


They received an average $8,500 although some got bonuses as high as $100,000.

Presumably that means a few people got that much and most earned just below 8,500 to even it out. But I'd like to think that for every employee getting 100k another employee got a bill for 83,000 to even it out.

Yep, amazingly there are people out there who understand that taking care of the people who helped you become wealthy might be a good idea. Capitalism in the US is so sick and bloated that it isn't even funny.

cbackous: spend the rest of the money on a "vaca" to Vegas?

Good financial planning there lou.

Agreed. I would spend most of it on hookers and blow. Then I would just waste the rest.

Umad-
See? I wouldn't spend it on hookers and blow, but, a very nice rest. I was thinking Vegas because its fairly inexpensive and warm. I have not had a "vaca" where I left my state in over 20 years. Seriously. Actually, I would like a Hawaiian "vaca". But, after I paid off my cc debts I don't think there would be enough left of the $8500.00 to cover it.

If I were to get a $100,000.00 bonus, then I would pay the debts, go to Hawaii and put some away for the future!

/Financial planning is easier if you have finances.

cchris_39: EdNortonsTwin: Can you imagin what Mitt Romney would have done with this opportunity had it been his company?

Private equity usually reserves a 20% stake for management and key employees. It provides incentive for them to increase the value of the company and share the payday when it's sold.

Another way to put it is that private equity reserves 20% to bribe its key employees to make them willing accomplices if the new owners decide that the only way to increase equity is to 'restructure their labour costs', to relocate their business, or just to break up the company's assets and sell them.

Ah, it's good to be a key employee.

Wont they get put into a higher tax bracket now that the money is taxable income?

In the US, if you get 10 Grand in a paycheck, you'll lose almost half of it to taxes. I'd be interested in seeing how much the tax return would be... probably not a lot.

So one guy gets $8,500 and says, "Wow, now that's a bonus!"

The schmuck next to him shows him his $100,000 deposit slip and says, "That's not a bonus. This is a bonus!"

FTA: "A business is only as good as its people, and our people are fantastic," Grenda said.

Real capitalists understand that. Corporatists and crony capitalists don't. That's the difference. There was a local company that started small and grew to pretty good size, the owner became extremely wealthy. He always treated his employees well and they were paid above the local average. Then he died. His widow sold the company to a major player in their industry. On her way out the door, she doubled every employee's 401k plan, whether they had been there a month or 40 years. Created more than one millionaire and earned the undying gratitude of every employee in the company. Since then, majorcorpwhoboughtthem has done everything it can to expunge the memory of the company it used to be. Employees are now treated like cattle, virtually every perk they used to get has gone away. And majorcorpwhoboughtthem wonders why employee moral is so low and productivity has dropped and why there is no line of folks who want to work there.

Mr. Grenda did good. He understands the value of employees and rewards them. I hope that every employee remembers this and, should they get into a position to manage others, take his attitude to heart.

McNignog: Wont they get put into a higher tax bracket now that the money is taxable income?

Here is how it goes in Aus.

Taxable Income Amount Paid in Tax
$0 - $6,000 Nil
$6,001 - $37,000 15c for each $1 over $6,000
$37,001 - $80,000 $4,650 plus 30c for each $1 over $37,000
$80,001 - $180,000 $17,550 plus 37c for each $1 over $80,000
Over $180,000 $54,550 plus 45c for each $1 over $180,000

Personally - I don't mind paying 37c on the dollar when some people pay 15c or less, you know why? Those farkers are poor.

Money might not buy happiness. but poverty sure as shiat does pay dividends in misery.

iaazathot: Yep, amazingly there are people out there who understand that taking care of the people who helped you become wealthy might be a good idea. Capitalism in the US is so sick and bloated that it isn't even funny.

Everybody in America makes it to the top on their own.

groppet: My CEO gave us a coozie with the company logo and a stress ball in the shape of a muscleman. Over the years he has given us any number of useless chinese made lead filled crap. Rather he just save his money on that stuff and just slip an extra $5 in my check.

Not even a hot cocoa sampler box?

The hero tag was for the boss, right?

Now that is how you run a business. One does not have to be a sociopath to make a profit, and being nice does not mean you aren't profitable.

Shame that doing right by the people that work for you is a lost art to most.