Way to go Peer Bearing!
As I have mentioned, it is my personal mission to shine light on good stories rather than all the bad news. I just found a good one to share with you…
The Peer Bearing company recently got bought out by a Swedish company. The owners decided to pass along a nice chunk of the acquisition price to their 230 employees. As a year-end bonus they gave away 6.6 million to the employees. The bonuses were calculated based on the employees’ years of service and averaged over $28,000.
An excerpt from the story…
On the day the checks were distributed, Valentin Dima watched as co-workers broke down in tears over their bonus checks. He drove home first, then opened his envelope: $33,000. His wife received a check for a smaller amount, and the two Romanian immigrants have since taken a Caribbean cruise to celebrate.
While neighbors and friends faced new financial strains, the bonuses have helped Peer employees breathe easier.
“I know people who work for corporate America are not going to get treated like that. And most of the family-owned businesses are not going to treat you like that,” said Dave Tiderman, who received $35,000. “This is something that just really doesn’t happen.”
I assume a lot of these workers were blue-collar workers and the bonus was probably a huge blessing. I just love stories like this.
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Bob, that’s a great story. Thanks for sharing! It’s good to hear stories like this in such bad times.
Wow. Good story. I don’t know that I have ever heard of a company doing that before. The honor that was done there was to give back to the people who had made the company what it was…. something that others saw enough value in to buy.
Has anyone else been in a similar situation?
That was a great story. Thanks for sharing
I came across and watched the news video story of this on Monday. I admire, to say the least, the good-will of the owners.
Below is the Yahoo News link to the video I watched with a few interview clips of employees.
http://cosmos.bcst.yahoo.com/up/ynews?ch=4226713&cl=10907570&lang=en
I bet that bonus really made a big difference in a lot of their lives. Think of how much debt you could pay off for instance.