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Boss Gives 30% Bonus

Discussion in 'Serious' started by Astrum, 16 Apr 2004.

  1. Astrum

    Astrum Dare to dream.

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    IRVINE, Calif. -- Employees of eMachines Inc., which sells low-end computers, got a $72.5 million piece of the pie when the company was sold last month to Gateway Inc.

    Founder Lap Shun "John" Hui distributed more than half of the profit from the $290 million cash and stock sale, announced in January.

    The 140 employees, ranging from managers to warehouse workers, received checks equal to at least 30 percent of their annual salaries, and some executives got nearly $100,000. About two dozen executives split 12.5 million shares of stock.

    "Typically, an owner would keep everything. But John felt very strongly that every employee should be rewarded and share in the transaction," said Wayne Inouye, former eMachines chief executive who took over the same role at Gateway.


    Full article here.

    I've gatta say, thats petty damn generous.
     
  2. TekMonkey

    TekMonkey I enjoy cheese.

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    Thats aweseome, I wish I worked there for the week before they were bought. :D
     
  3. jgrade

    jgrade What's a Dremel?

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    I think the money was a payoff for making such crappy computers. Call it hush money. What they really needed to do was to give some of that money to the people that bought e-machines computers for compensation for pain and suffering. I used to service these machines. They should have put a little more money into the PSU. I mean what the heck is a 67w PSU or 89w PSU. Thats not even enough to add a peripherial!

    Seriuosly, that was a cool thing to do. :hip:
     
  4. Bogomip

    Bogomip ... Yo Momma

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    since they sell low end computer i doubt they will be sold to people expecting to add an extra peripheral. People know what there getting when they buy :)

    the guy who owns that has proper scruples obviously :)
     
  5. RotoSequence

    RotoSequence Lazy Lurker

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    Hmm, well now there is an open market for low end computers ;) heh heh heh...
     
  6. Lorquis

    Lorquis lorquisSpamCount++;

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    Heard of Dell's Value range?
     
  7. Fubar

    Fubar What's a Dremel?

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    he probably figured that there was no way he was going to spend 70million bucks let alone a 140 and it would make him look good
     

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