ot: Put these guys in charge!

[secetal]

These guys have the "Balls" to run a good company. Maybe they should be running the Banks and Wall Street also.Martinhttp://news.yahoo.com/s/ap/20081129/ap_on_re_us/big_bonus

 

[Errol]

My favorite daughter Sue (OK my only daughter) work for Faria Corp in New London CT. Tom Faria the owner did a similar profit sharing scheme. Her first year there she got about $700 in one dollar bills as her share. That was only one of Tom's quirks, dollars bills in whatever amount the employee earned. Cool.

I took my students for a tour of the plant (at the facility where Sue worked they made toothpaste) and she mentioned the thing about one dollar bills. One of my smart assed kids said that he wouldn't want a bunch of one dollar bills. When she received her share she stopped by school to show the kids her cut. Seeing 700 bills changed their minds in a hurry!

Tom's other thing in life was to buy old equipment and try to fit in into his manufacturing operation. Sue once placed an ad in the paper soliciting a "mechaninal wizard" to work in the tool room. don't recall if she got any takers.

 

[GeneH']

Workers have been told that most will keep their jobs.

You all need to read the fine print at the bottom of the page.

Good thing that there isn't some Federal Law out there that forbids Bonuses in excess of one's monthly or annual wage, huh?

Gene

 

[Wren]

IMO- those guys have figured out the secret to loyalty: You get as much as you can afford.

I expect those bonuses are an excellent investment in the future of the company.

 

[SteveF]

Secetal - I'm missing your point. Having sold their company to SKF, they are managing exactly the same way Wall Street already does. Peer Bearing will now be run by managers whose sole loyalty is to maximize return for the benefit of the SKF stockholders. Those bonuses and turkeys will now only be given if the plant managers can PROVE the cost is justified by increased productivity.

Steve.

 

[secetal]

Steve, My point was, they were setting an example of how to treat employee's. I have found that owners with this type of philosophy tend to create superior products and treat their customers well. I think by now we have all seen the results of the "maximum profits" models of business. Martin