Aussie Bosses Thank Employees With $16M After Sale

By Rod McGuirk


CANBERRA, Australia (AP) -- Employees of an Australian bus company have been given a 15 million Australian dollar ($16 million) share of the proceeds of the business sale as a thank-you for their loyalty, an executive and a newspaper said Wednesday.

The 1,800 staff at Melbourne-based Grenda Corp. have received bonuses averaging more than AU$8,300 and as much as AU$30,000 after the Grenda family sold the 66-year-old business for AU$400 million, the Herald Sun newspaper reported.

Chief executive Geoff Grenda described the gratitude of staff - one of whom had been with the company for 52 years - as "overwhelming."

"We sat down and thought: 'how can we thank the people that have got us to where we're going to end up?' and it was a fairly easy decision for us," Grenda told Nine Network television, referring to his father Ken and brother Scott.

"We've had lots of loyal people over our 66-year journey and this was our way of rewarding the ones that are still with us," he added.

Geoff Grenda could not be immediately contacted for comment on Wednesday.

The staff will keep their jobs under the new owner, Ventura, the newspaper said.

A bus driver identified only as Heath told the newspaper that some staff had telephoned their banks assuming an error had been made after the bonuses were paid directly into their accounts.

"Good bosses are hard to find and Ken was a very good boss - one of a kind," Heath said.



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mamoseley3

What a refreshing bit of news to hear that there are actually people in this world who truly care for others, Loyal and faithful workers are hard to find and kind and compassionate bosses are few and far between. I admire and respect the owners of this company. It's a shame there aren't more like them.

February 02 2012 at 4:20 AM Report abuse rate up rate down Reply
skooterfart54

You'll never see Walmart doing that to their employees. Every year they find new ways to keep their bonuses from them and keep it for themselves.

February 02 2012 at 3:18 AM Report abuse rate up rate down Reply
Bob

You wouldn't see any of the Walton's doing that for their dedicated Wal-Mart associates!

February 02 2012 at 12:08 AM Report abuse rate up rate down Reply
Finchie

Several years ago there was a chemical company in our town and they sold out to the Japanese. The owners shared their profits. They rarely had any turnover so most of them were long term. There newest employee that had been there 3 days when checks were given out got $10,000. The longest time employee got $400,000. It was absolutely amazing to see it.

February 01 2012 at 10:36 PM Report abuse rate up rate down Reply
weirdo

Better than reading yet another story of a CEO that gets a multi-zillion dollar bonus for running a company into the ground...Even if it did have to come from another continent.

February 01 2012 at 9:12 PM Report abuse +2 rate up rate down Reply
coonodor

Iran is in bed with venezuela and cuba. America is overrun with illegal aliens, drug cartels, terrorists and dirty bomb making materials all flooding in across the mexican border that is left wide open. Islamic sleeper terrorist cells are set up all across America. Armageddon is on the horizon thanks to Obama. better invest in lead while you still can, money will be useless

February 01 2012 at 9:04 PM Report abuse -1 rate up rate down Reply
D D

I guess the only hope in working for decent and appreciative human beings is to go to Australia. American employers can learn something from this, then again, they are too busy taking the left over money from their departments and keeping it for their filthy rich selves while watching their workers slave away.

February 01 2012 at 8:59 PM Report abuse +2 rate up rate down Reply
bartandyc

Less than 4 % . of the sale price , better than 0 but far from gratefull , is he saying he did 96 % of the work ?The economic bs of the wealthy is really an illness ! , i'm not sure how the split worked with slavery , but this could even be worse. and this is far better than most .

February 01 2012 at 8:24 PM Report abuse -3 rate up rate down Reply
toddisit

Won't happen here, too greedy!

February 01 2012 at 7:17 PM Report abuse +1 rate up rate down Reply
Jennifer Malcom

Good luck getting any American companies to think of those who got them where they're going and where they'll end up...if they're any good at all. However, I would have no problem personally thanking the ones who will put the corporations where they'll end up....in bankruptcy, and hopefully, the poor house!

February 01 2012 at 3:43 PM Report abuse +1 rate up rate down Reply
2 replies to Jennifer Malcom's comment
Jennifer Malcom

Let me correct that...in bankruptcy and hopefully out of business! Great that these people see their employees as "who got them there"...

February 01 2012 at 3:44 PM Report abuse rate up rate down Reply
crotalus

Got one for you. Bob's Red Mill in Milwaukie, Or. The long-time owner, on his 82nd birthday, gave the business to the employees. Bob still works every day. He is a very vital, healthy individual and loves his business and his products.
My wife and I were on a tour and the tour guide told us about the "gift". Each employee shares in the company stock and when they retire or leave, they sell the stock back to the company so that the employees will always be the owners. While we were on the tour, Bob came in and said hello. I believe he was a year past his 82nd birthday on the day we were on the tour...he seemed about 20 years younger than his age. Whole grain products and hard work must be good for the body.

February 01 2012 at 6:38 PM Report abuse +3 rate up rate down Reply

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