Posted on 12/11/2019 10:07:40 AM PST by RoosterRedux
Many companies give out bonuses around the holidays, but not many announce an additional $10 million in employee payouts on top of annual year-end prizes like St. John Properties did at a recent holiday party.
“I still haven’t absorbed it,” said Nikki Goode, the real estate firm’s director of taxation, in a company video. “I’m shocked, very thankful.”
Edward St. John, the founder and chairman of St. John Properties, wanted to celebrate the company’s recent accomplishment: developing 20 million square feet of office, retail, warehouse and other spaces across eight states. The company’s Maryland properties include the Baltimore Gateway on Koppers Street and the Business Center at Owings Mills.
The 81-year-old said he thought it would take nearly 40 years to reach his goal. Instead it only took 14.
To thank employees for their hard work, St. John said he wanted to give them a bonus. One million didn’t seem like enough and neither did five or eight million, he said in a company video. So, he landed on $10 million split between 198 employees.
The bonuses were allocated by years of service with the St. John Properties with each employee getting an average of $50,000 on top of the company’s regular year-end bonus.
(Excerpt) Read more at baltimoresun.com ...
wonder why your last thread was pulled? They claimed it ‘wasn’t news’ - sure seems like a news item to me-
Is this news?
Jerks.
Baltimore, so likely many of the employees are liberals. I wonder what they now think about the Trump Economy?
The last Christmas bonus I received was in 1988.
Another tradition that had been killed off by MBA’s. Or so I believed.
It's a wonderful story.
/sarc
The highest bonus was 250K and they said they based the bonuses on years worked. Like winning the lotto.
This is news.
The people that are employed by the developer of the property are getting nicer bonuses than the most of the ones that work for the companies that helped finance it.
They're going to have a great Christmas.
Our company pays year-end bonuses too.
Not sure what they are based on, but they started as a nice kiss on the cheek; as they have declined while company profitably has increased they are now feeling more like a slap on the cheek. I conclude that they wish for me to move on...
working on it.
Back in public TV land circa 1997 or 98, the then president of the network lobbied successfully for a Christmas bonus. A one time deal since died several months later.
Anyway it ranged from a couple hundred to maybe five hundred.
To get the max, the department manager had to sign a form to approve.
Our manager was only interested in herself and greener pastures. Naturally me and my crowd got the minimum while just about everyone else got a lot more.
Someone found the form on her former desk. She just didn’t care.
My boss tried to get it adjusted but it was too late.
I actually quit a job at a private bank once because for Christmas we got a picture of the President of the bank and his family and 2 mugs they were giving away for opening an account. Cheap ba$tard$.
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