Now here's a CEO who gets it!

[Playinghardball]

[Hoyt]

1. I do like that. And I hope years down the road, that stock is actually worth something.

Sounds like a really good company -- employees and owners.

[A HERETIC I AM]

7. Why wouldn't it be?

As long as the company continues to be successful, why not?

There are plenty of privately owned (Often referred to as "Closely held" in stock market parlance) companies that offer company stock to their employees as part of compensation. Two notable examples are Publix Supermarkets and Penske Truck Leasing.

While the shares do not trade on the open market, they certainly have value, both to the firm as well as the employees.

Bear in mind that prior to November of 1999, United Parcel Service was also closely held but offered company stock to their employees also. Many, MANY drivers who had been there for years became millionaires overnight when their shares began to trade on the NYSE.

[Hoyt]

13. Seen too many cases of Employee Stock Option Plans that turned out worthless.

I am simply hoping that 10 years from now, the company is worth something. If I were an employee and had the option of cashing in immediately, I'd take it. But, they don't have that option.

[A HERETIC I AM]

15. Very often these stock awards are tied to a 401(k)....

and, as is the case with Publix, are only offered for buyback quarterly or twice a year.

A buddy of mine worked for Penske for almost 20 years. He left them about 6 years ago, but because he has so many shares of their stock, he has just left them in the 401(k), not cashing out and doing a rollover to an IRA.

I understand your concern, but not every firm is a potential Enron.

[airplaneman]

19. For me a 20 year ESOP netted me 4 months salary.

And I was not allowed to have my own IRA because they checked the box that I had a company sponsored retirement plan.
-Airplane

[Hoyt]

20. Exactly. Sorry it worked out that way, but it's more common than people think.

[JonathanRackham]

27. Last century I worked for Johnson Controls.

You could contribute and control your own 401K, took it when I left. Not tied to company performance. Managed by third party. At Johnson at end of year you also got a Johnson stock bonus certificate. Amount was based on longevity. You could cash it in any time. Almost 30 years later, don't know if they still do it. Blue collar people were treated just like the white collar.

[wryter2000]

2. Wish I ate yogurt

I wonder if you can buy stock in the company

[A HERETIC I AM]

8. It's closely held.

http://www.attn.com/stories/7812/ceo-chobani-yogurt-gives-10-percent-shares-to-employees

[wryter2000]

10. Thanks

Long ago, I bought some Costco stock because I loved the company. Even through the upheavals at the end of BushII's disastrous presidency, it did well.

[A HERETIC I AM]

11. Shit...we all should have bought Facebook when it was at $18!!

Trading at $117 today!

Ahhh...well..

For that matter, I should have bought Ford when it was at a buck fifty!

[Ferd Berfel]

3. Gee - I wonder how this guy votes

SOme how I'll bet he doesn't vote RW or even 'centrist'

just guessing.

This'll drive the RW of both parties out of their little minds.

[Hortensis]

24. Probably, but note that though socially responsible

economics are in eclipse on the right, some conservatives do still believe in advances through progressive action at all levels of engagement, including government, and many were solidly behind the New Deal programs. So, it is possible that someone doing this could be centrist conservative or even moderate, though, as you indicate, most likely liberal or far left.

This person is a nasty old capitalist, though, and this advancement of the wellbeing of his employees is through his personal, not government action, leaving the doors wide open to speculation regarding both right and left.

Which I like. In order for progressivism to once again dominate in government and once again become a force in the GOP, it needs to be far better understood.

[mountain grammy]

4. This is a beautiful story..

and not the only one, but, unfortunately, rare. That's why it goes viral.

[killbotfactory]

5. employee ownership of a company is socialism

we better invade his company or else the red menace will spread.

[IDemo]

6. Hamdi Ulukaya, from Wiki:

Influence and advisorships

Ulukaya has been noted both for his extraordinary entrepreneurial success and also his commitment to making affordable, delicious, and nutritious foods using only natural ingredients. In addition to receiving many entrepreneurship awards, in April 2014 he was named by President Barack Obama as an inaugural member of the Presidential Ambassadors for Global Entrepreurship (PAGE) initiative – 11 selected business leaders who will champion and encourage entrepreneurship in the U.S. and abroad. Also in 2014, the Culinary Institute of America honored him with its Leadership Award (Augie Award) in the Health and Wellness category.

Ulukaya is a member of the Upstate Regional Advisory Board of the Federal Reserve Bank of New York, and he is a Vice Chair of the corporate fund board of the Kennedy Center for the Performing Arts. He is also on the board of the Pathfinder Village (Community for Down syndrome) Foundation in Edmeston, New York and The American Turkish Society in New York, NY. He has delivered commencement addresses at institutions including the Culinary Institute of America, the Sage Colleges, and the University at Albany in New York, and has received honorary doctorate degrees from Colgate University, the Sage Colleges, and the University at Albany.

From its inception Ulukaya has given 10% of his company's net profits to charitable causes, and to individuals and organizations working towards positive long-lasting change. In 2010 he established the company's charitable arm, the Chobani Shepherd's Gift Foundation, now called the Chobani Foundation, to manage this philanthropy. Donations have included major grants to support famine relief efforts in Somalia, and to underwrite the New York City Pianos project launched by Sing for Hope.

Hamdi Ulukaya donated most of his wealth, at least 700 million dollars, to help the Kurdish refugees as well as refugees from all around the world.

https://en.wikipedia.org/wiki/Hamdi_Ulukaya#Influence_and_advisorships

[Stallion]

18. ....Oh No! He Has a Charitable Foundation-Just Like the Clintons

must be evil

[IdaBriggs]

23. It isn't having a Foundation that makes the Clintons so horrible...

It's misusing it by making it a money laundering scheme for corrupt countries and people to buy influence and steal from the needy. Go google "Clinton Foundation and Haiti" for an example of who actually benefited from the millions raised for Haiti -- children are starving to death, living in tents seven years later, and the money is nowhere to be seen.

Charities do public financial disclosure which is supposed to prevent things like that, but there appears to be some issues with the "fictional" quality of the reporting.

[Loki]

26. Prove it.

Try reading for a change.

http://www.factcheck.org/2015/06/where-does-clinton-foundation-money-go/

[valerief]

30. ^^^this^^^

[tammywammy]

31. And there's this

https://www.clintonfoundation.org/clinton-global-initiative/meetings/winter-meeting/2016/webcasts/day-1

https://www.clintonfoundation.org/press-releases/media-advisory-president-clinton-and-chelsea-clinton-host-clinton-global-initiative-0

At the Winter Meeting, President Clinton will introduce the 2016 CGI Annual Meeting theme, “Partnering for Global Prosperity.” Since starting in 2005, members of the CGI community have worked together to make more than 3,400 Commitments to Action which have improved the lives of over 430 million people in more than 180 countries.

The opening session will feature a one-on-one discussion between President Clinton and Hamdi Ulukaya, Founder and CEO, Chobani and Founder, Tent Foundation, with a focus on supporting refugees.

[COLGATE4]

9. Lots of companies have employee ownership of

part of the company through Employee Stock Ownership Plans (ESOP's). He was able to do this since he's not only CEO but also majority shareholder.

[lovemydog]

12. Yes. It's not only best for co-workers,

it's smart business.

[COLGATE4]

14. Absolutely.

[NewImproved Deal]

16. One of the Good Guys.

No Neo-Liberal, he...

[Stallion]

17. Gonna Pick Up Some Chobani Next Stop at Grocery Store in Solidarity

nm

[Major Nikon]

21. Bob Moore of Bob's Red Mill did even better

He transferred the entire company to the employees.

http://www.oregonlive.com/clackamascounty/index.ssf/2010/02/bobs_red_mill_natural_foods_ro.html

[Hortensis]

25. Definitely nice, but setting the bar a bit too high

for business in general, right? Good wages and good benefits would be a lot "even better" than what most people are being paid now.

[passiveporcupine]

22. I have some Chobani greek yogurt in my fridge right now

Ulukaya has stated that higher wages for employees leads to greater corporate success. Not only does he promote the position that companies can succeed when they pay their workers more, they also have a moral obligation to do so, stating that, “…for the sake of our communities and our people, we need to give other companies the ability to create a better life for more people."

from wiki

I love this guy! I bet he's a Bernie fan!

[Loki]

28. So to have the workers rights and interests at heart,

only belongs to Bernie supporters? How interesting.

[passiveporcupine]

34. Actually it is part of the "socialism" that Bernie believes in

Where the profits of the company are shared by all, and the workers have a voice in how the company is run. In this case it's only the first half, but it's a start.

There have been very few business owners who treat their workers this way (Costco is one) and every time it happens it hits the new because it is so rare.

A person who is born and bred to capitalism and the goal of earning money, doesn't usually do this sort of thing.

I admit that in this case the guy is a billionaire, so he can afford to do it, but he's got one part right that Bill Gates does not. The part about a well paid worker being important to the success of the company. Bill Gates likes to use offshore cheap labor, instead of bringing those jobs home and paying workers well to build his products.

Gates is probably not a Bernie supporter.

But note, in both cases I never said "for sure" he's a Bernie fan, because some conservatives are nice people too.

I can understand if you want to take offense at my statement. I'd be on the defensive too, if I was supporting the status quo that favors big business and not the little guy.

[valerief]

29. Wow! That's so...so...unCEOish! (I have no higher compliment.)

[Land of Enchantment]

32. Another reason to keep buying it. They started out

giving out free coupons for yogurt cups where we live. It is GOOD stuff!

?1

[Rex]

33. Now there is a CEO that knows how to keep his company in business! Without graft or fraud.

That is amazing imo.