Personal Finance 

Roundup: A Company Taking Care Of Its Own

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This is a great story about company founders taking care of their people. When Peer Bearing Company, a Waukegan, IL., ball bearing maker, was sold to a Swedish company earlier this year, the company founders gave away bonuses to its 230 employees. Big deal right? No. They gave away $6.6 million bonuses. That’s a great story to hear about.

My friend Fred at One Project Closer is giving away two more $100 gift cards, head on over to enter. Fred is the guy I turn to when I have any questions about home improvement, so if you’re into home improvement, you definitely want to check out One Project Closer. As for what I’d do with the $100, I’m thinking about getting some shelving units for the room in the basement. The amount of stuff that’s accumulated there has really made it necessary for us to get shelves (and we can’t get rid of stuff because it’s all seasonal).

Trent announced that 365 Ways to Live Cheap, his book on frugality book is now available (announcement). It includes a compilation of the 365 best tips he has on personal finance and frugal living and comes at you for only $7.95. Don’t be cheap until after you buy the book.

FMF shares some solid tips on negotiating for the best price on electronics. There are some pretty good tips on there that apply to other things as well (though I don’t know if I trust that last tip). My favorite tip? “If you do negotiate with us, be discreet.”

Did you know that rhodium is one of the world’s most precious metals and goes for about $7500 an ounce? Only 25 tons are mined each year and it has made an appearance in such famous pieces as the Crown Jewels of the British Queen and now a new ring for President-elect Obama’s wife, Michelle. Dude’s a baller.

Finally, for those of you still shopping, SVB put together a great list of 21 websites that can help you save money shopping online. Whatever you do though, don’t buy gift cards. I think gift cards are stupid and so does Seth Godin, marketing guru.

(Oh, for those who keep track of this sort of thing, the American Express Wishlist promotion is back on again this year)

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8 Responses to “Roundup: A Company Taking Care Of Its Own”

  1. Traciatim says:

    Wasn’t the rhodium ring thing just a rumour?

  2. jim says:

    Yeah maybe… but still fun to read about. 🙂

  3. David says:

    Giving away $6.6 million IN bonuses is not quite the same as giving away $6.6 million bonuses.

    Certainly Valentin Dima’s $33K, Dave Tidernman’s $35K, and Jose Rojas’ $10K checks are very generous, but I think your synopsis is a little sensational.

  4. jim says:

    The owners could’ve pocketed everything and walked away, you don’t think they were generous?

  5. emanon says:

    The former owner of my company gave away close to $32 million in one time bonuses when he sold the company. Some guys, non-management, took home $100,000 after taxes. A majority of guys walked away with half a year to a years salary after taxes. A truly amazing person whom I wish was still running the place rather than the European overlords that run it now.

  6. Wow, never thought you had a thing against gift cards…. Well, I actually use them, though not all the time. I usually receive them for places I shop at quite often, so it works out.

  7. jim says:

    A gift card doesn’t beat cash. 🙂

  8. Gates VP says:

    Funny story Jim.

    I just got an “anti-frugal” gift card for my one-year anniversary at the office. It’s a $25 American Express card that cannot be used at “airline, cruise line, hotel, car rental, telecoms, casinos or ATMs”, so it’s effectively a “you must spend me on something card” 🙂

    So it’s basically a nice way to say “have dinner on us”.

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