Boss Divvies Up $15M to Surprised Employees

Owner of bus company in Australia sells firm, feels generous
By Dustin Lushing,  Newser Staff
Posted Feb 1, 2012 4:51 PM CST
Boss Divvies Up $15M to Surprised Employees

The boss of an Australian bus company dished out $15 million in bonuses to his employees. Ken Grenda sold his company and used the proceeds to give an average $8,500 to every one of his 1,800 workers. Grenda, 79, attributed his generosity to the typically enormous gap between executive and employee salaries, reports the Sydney Morning Herald.

"I get totally dismayed when you see some of the salaries the CEOs get paid," Grenda told a radio station. "It is far beyond what somebody is worth." Many workers at the 66-year-old company thought their banks made a mistake. "They are absolutely stoked," said Grenda. "There were lots of tears. Bus drivers aren’t the highest paid workers and I think some of them have been quite low." (Read more Australia stories.)

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