Tuesday, December 02, 2008

An atypical family-run business

An incredible and heartwarming piece of news. Employees at the Peer Bearing Co. in the US received 5-figure bonuses each, after the Spungens, the famiy that owned Peer sold the company. Bonuses worth USD 6.6 million were shared among just 230 employees.

"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."

People should know about the good the Spungens have done and I am doing my part to spread this.

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