How about a feel good story of the day? CEO gave his $3 million bonus to coworkers

Danny Tse
Danny Tse Posts: 5,206
edited July 2012 in The Clubhouse
He didn't have to.....but he did.

CEO of Lenovo give away his bonus to coworkers
Post edited by Danny Tse on
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  • Dennis Gardner
    Dennis Gardner Posts: 4,861
    edited July 2012
    Great story!! He will no doubt get some Boss of the Year votes........
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  • chumlie
    chumlie Posts: 8,658
    edited July 2012
    It would be nice to see an American CEO take a page from this guy's book. Not gonna happen though.
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  • teekay0007
    teekay0007 Posts: 2,289
    edited July 2012
    Chicks just GOTTA dig a guy like that!! :cool:
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  • DMara
    DMara Posts: 1,434
    edited July 2012
    chumlie wrote: »
    It would be nice to see an American CEO take a page from this guy's book. Not gonna happen though.

    Those American CEOs might denounce their citizenship to save some tax though :biggrin:
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  • tonyb
    tonyb Posts: 32,957
    edited July 2012
    Wait a second, just skimming but their workers only get less than 100 bucks a week, but pay their CEO 14 million ? Don't get me wrong, I'm glad the dude is giving some back, but as a company it's kinda crappy that you can't pay workers more but can lavish tons of cash and benefits to one person.

    Or am I reading this wrong ?

    I would think more of them as a company if the company itself decided to hand out the bonuses instead of the CEO digging into his own pocket. To me, that tells me as a company they don't value the workers.
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  • DMara
    DMara Posts: 1,434
    edited July 2012
    tonyb wrote: »
    Wait a second, just skimming but their workers only get less than 100 bucks a week, but pay their CEO 14 million ? Don't get me wrong, I'm glad the dude is giving some back, but as a company it's kinda crappy that you can't pay workers more but can lavish tons of cash and benefits to one person.

    Or am I reading this wrong ?

    I would think more of them as a company if the company itself decided to hand out the bonuses instead of the CEO digging into his own pocket. To me, that tells me as a company they don't value the workers.

    How many companies nowadays can truly say they value the workers? :razz:
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  • cnh
    cnh Posts: 13,284
    edited July 2012
    Each worker received 2000 renminbi,or $314.
    This is about the equivalent of a month's salary for many Lenovo workers.

    Just a minor correction. Actually 2000 RMB a month is at the higher end of the factory worker scale for China. And wages are increasing across the nation, at this point (a natural process of growth and development, competition, etc.).

    A follow up question should be what kind of "benefits" does Lenovo provide for its employees if any? I don't have that info at my finger tips.

    Some American companies also provide "bonuses" in good times. More should, of course. But that's just an indication of whether a Corp. has a moral compass or not? Some do, some don't!

    In any case. This is "not" a bad thing. It is good news.

    cnh
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  • tonyb
    tonyb Posts: 32,957
    edited July 2012
    Eh, It's a good thing yes, a good deed done by one person. As a company though, they did jack beans. I realize this is China and all that, but jumping up and down with joy over making less than a hundred bucks a week....don't feel it guys. Might be the norm for China, in line or better wages than most, but still a far cry from a living wage in my book.

    I'm happy for them in the sense that they received a bonus equal to a months salary. I'm sure they are too, who wouldn't be ? If they made 50 bucks a month, and received 150 buck bonus, would it still be a news story ? Or would the question be why are they paid so low, while those at the top so much ? How about if they made a nickel and got 15 cents as a bonus ? Would he still be a swell dude ?

    Sure, lots of American companies do the same, but not to that extreme. I'd like to believe most at least pay a livable wage while dropping millions on a CEO....AND....thats not including the board members. No wonder most tech companies are moving out.

    I know I'm making a mountain out of a mole hill here, and a good guy he is for digging in his own pocket to keep employees in their seats, just think there's a bigger issue in all this that the story glances over.
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  • DMara
    DMara Posts: 1,434
    edited July 2012
    tonyb wrote: »
    Sure, lots of American companies do the same, but not to that extreme. I'd like to believe most at least pay a livable wage while dropping millions on a CEO....AND....thats not including the board members. No wonder most tech companies are moving out.

    So how much do you think Apple/Nike/etc are paying Chinese workers? And how much are their CEOs making?
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  • tonyb
    tonyb Posts: 32,957
    edited July 2012
    DMara wrote: »
    So how much do you think Apple/Nike/etc are paying Chinese workers? And how much are their CEOs making?

    Agreed....but if Apple decided to do the same, would we still jump up and down over what a great company it is ? Or call into question why they are payed so low to begin with. Guess it all depends on who writes the story.
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  • DMara
    DMara Posts: 1,434
    edited July 2012
    tonyb wrote: »
    Agreed....but if Apple decided to do the same, would we still jump up and down over what a great company it is ? Or call into question why they are payed so low to begin with. Guess it all depends on who writes the story.

    No, we wouldn't jump up and down over what a great company it is, but that would be a great gesture from the CEO, individually. I mean who wouldn't welcome such a surprise bonus?
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  • Sherardp
    Sherardp Posts: 8,038
    edited July 2012
    Good stuff for sure. The only other CEO who does similar stunts is Oprah, the rest in America could care less.
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  • Erik Tracy
    Erik Tracy Posts: 4,673
    edited July 2012
    There's an Eeyore in every Hundred Acres Wood.

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