kiwi_2005
02-02-12, 12:52 PM
Bus boss gives his workers an $18m thank you
It was a heavy discussion, but Melbourne's Grenda family had no trouble agreeing what they would do when they sold their bus business: hand out A$15 million ($18.2 million) in thank-you bonuses to staff.
Based on length of service, that means an average of A$8500 apiece, with some getting A$30,000 or so. "You only get where you are by having very good people," family head and business boss Ken Grenda, 79, said.
He told Melbourne Radio 3AW he sat down with sons Geoff and Scott to figure out what they would do when they sold the 67-year-old family business for A$400 million.
"We all had totally the same idea that we'd give something back to our people. So we examined a formula and we all agreed it should be done."
Grenda Corporation staff were overwhelmed.
Etty Talauega, who has been with the company for more than five years, posted her gratitude on the website of the local newspaper, the Dandenong Leader: "I am very blessed to be part of Grenda family company, since day one.
"I have met other drivers that work with other companies, admire how Grenda takes care of his buses and his drivers. Just want to thank Ken Grenda and family."
Another unnamed employee told Melbourne's Herald Sun the Grenda family were "just the most amazing bosses".
"I think it starts back with their grandma, Ken's mother, who used to bake a cake for staff every year ... they were very giving," she said.
For Ken Grenda, the response was overwhelming. "Lots of phone calls, lots of emails, lots of flowers, lots of everything ... they're just absolutely stoked. There were lots of tears, of course, because I think that bus drivers aren't the highest-paid people in the world, and for some of them this money will be very useful."
Grenda knows about struggletown. His father started the business with four buses in 1945, involving his four children from day one and working out of the family home. It was all hands to the pump.
"Every time there was a spare second you drove buses, you washed buses, you did absolutely everything," Grenda told 3AW radio. And he liked driving buses: he met real people.
"I think it was a plus for me, because I had to speak bus driver language."
The company grew, diversified into building buses in 1977, came close to the wall during a spat with Victoria's Labor Government in the 1980s, and ultimately prospered.
Selling up did not come easily.
"The decision to part with our family's business has not been taken lightly," he said. "As the family grows, interests continue to diverge, with the next generation not expected to be in a position to run the business for a number of years." But even approaching 80, he has no intention of hanging up his hat yet and is thinking about what kind of business he will get into now.
And he has a message for other bosses - look after your staff and don't get greedy. "I get totally dismayed when you see the level of salaries some chief executive officers get. I think it's far above what anybody's worth."
Source
http://www.nzherald.co.nz/world/news/article.cfm?c_id=2&objectid=10782786
It was a heavy discussion, but Melbourne's Grenda family had no trouble agreeing what they would do when they sold their bus business: hand out A$15 million ($18.2 million) in thank-you bonuses to staff.
Based on length of service, that means an average of A$8500 apiece, with some getting A$30,000 or so. "You only get where you are by having very good people," family head and business boss Ken Grenda, 79, said.
He told Melbourne Radio 3AW he sat down with sons Geoff and Scott to figure out what they would do when they sold the 67-year-old family business for A$400 million.
"We all had totally the same idea that we'd give something back to our people. So we examined a formula and we all agreed it should be done."
Grenda Corporation staff were overwhelmed.
Etty Talauega, who has been with the company for more than five years, posted her gratitude on the website of the local newspaper, the Dandenong Leader: "I am very blessed to be part of Grenda family company, since day one.
"I have met other drivers that work with other companies, admire how Grenda takes care of his buses and his drivers. Just want to thank Ken Grenda and family."
Another unnamed employee told Melbourne's Herald Sun the Grenda family were "just the most amazing bosses".
"I think it starts back with their grandma, Ken's mother, who used to bake a cake for staff every year ... they were very giving," she said.
For Ken Grenda, the response was overwhelming. "Lots of phone calls, lots of emails, lots of flowers, lots of everything ... they're just absolutely stoked. There were lots of tears, of course, because I think that bus drivers aren't the highest-paid people in the world, and for some of them this money will be very useful."
Grenda knows about struggletown. His father started the business with four buses in 1945, involving his four children from day one and working out of the family home. It was all hands to the pump.
"Every time there was a spare second you drove buses, you washed buses, you did absolutely everything," Grenda told 3AW radio. And he liked driving buses: he met real people.
"I think it was a plus for me, because I had to speak bus driver language."
The company grew, diversified into building buses in 1977, came close to the wall during a spat with Victoria's Labor Government in the 1980s, and ultimately prospered.
Selling up did not come easily.
"The decision to part with our family's business has not been taken lightly," he said. "As the family grows, interests continue to diverge, with the next generation not expected to be in a position to run the business for a number of years." But even approaching 80, he has no intention of hanging up his hat yet and is thinking about what kind of business he will get into now.
And he has a message for other bosses - look after your staff and don't get greedy. "I get totally dismayed when you see the level of salaries some chief executive officers get. I think it's far above what anybody's worth."
Source
http://www.nzherald.co.nz/world/news/article.cfm?c_id=2&objectid=10782786