https://www.yahoo.com/finance/...yland-012153557.html

St. John Properties, a Baltimore-based commercial real estate property management and development company, provided a $10 million bonus for its 198 employees to split at its annual holiday party on Dec. 7.

“The [bonus] distribution was based solely on years of service. It had nothing to do with a person's position in the company,” Larry Maykrantz, president of St. John Properties, told Yahoo Finance in a phone interview. “We spent a little bit of time discussing it and believe me, once we made that decision, we realized that was the only fair and equitable way of handling this

Individual employee bonuses ranged from $100 to $270,000, according to the company’s LinkedIn post. On average, each employee received about $50,000

What prompted this hefty bonus was the company’s goal back in 2005 to double the size of its portfolio from 10 million square feet to 20 million square feet, according to Maykrantz. At the time, St. John Properties had no idea how long the goal would take to reach, surmising it would take nearly 40 years.

“It took 14 years,” Maykrantz said. “In celebration of that major achievement, we wanted to find a way to thank and reward of all our employees.”

He described the announcement and night overall as “unbelievable.”

“What occurred that night exceeded my expectations tenfold,” Maykrantz said. “It was one of the most incredible experiences I’ve had in my 40 years of business experience. It literally brought tears to my eyes to hear of all the great potential impact of what we did had on all 198 people.”

That’s a rare business owner that actually does care. It’s easy to say you care but showing it is much more impressive.

That’s pretty fantastic. It’s also extremely similar to what the company I just started for does. Just in a smaller scale.

A friend of mine, also in the real estate business, used to give employees Christmas cards with one week's salary in cash stuffed inside. I would escort his secretary to the bank each year to withdraw a bag full of cash to take back to the office to split in cards. I then drove him around to each office to hand out the cards.

There are plenty of business owners who care about their employees and do what they can to share the good fortunes when possible.

quote:

Originally posted by a1abdj:
A friend of mine, also in the real estate business, used to give employees Christmas cards with one week's salary in cash stuffed inside. I would escort his secretary to the bank each year to withdraw a bag full of cash to take back to the office to split in cards. I then drove him around to each office to hand out the cards.

There are plenty of business owners who care about their employees and do what they can to share the good fortunes when possible.

When Trump tax cuts were approved, my boss handed me $500 and told me he will fully fund my HSA account ~$3,600 per year forever.

Some bosses are cool like that and spread the wealth, only works if employees understand that it's a reward for performance vs a guaranteed part of your income. If employees know that their direct contributions to company in order to improve the company results in bonuses based on achieving those goals/improvements then it's a real incentive.

Good on them for spreading the wealth and incentivizing their employees. You know how hard they will be working for 30m sqft!

Damn. I do the work part (I save the company I work for millions) but never get a cut.

The company gets to write it off and guess what? the employees get to pay taxes on their bonus.....

I wonder who in the company got the hundred bucks and who got the 270K?

quote:

Originally posted by Blume9mm:
The company gets to write it off and guess what? the employees get to pay taxes on their bonus.....

I wonder who in the company got the hundred bucks and who got the 270K?

It says the payouts were based on years with h the company not individual accomplishments.

So newest employee = $100.

Imagine if you worked there for years and quit recently. Ouch.

What is new? Distribution of bonuses that represent some unspecified % of pre-bonus profit?

Or that the company chose to publicly announce their generosity?

#IamGood

Wow. Wonder what the $100 recipient did wrong?

Doesn’t surprise me based on what I know about Ed St.John. He probably owns 50%+ of the commercial RE in central Maryland.

Good for those employees!

-Rob

quote:

Originally posted by r0gue:
Wow. Wonder what the $100 recipient did wrong?

It's not base on individual accomplishments it's based on how long you have worked there.

I remember 4 or 5 years ago a paving company in Texas gave out like 100 million in bonuses one year.

quote:

Originally posted by FHHM213:
What is new? Distribution of bonuses that represent some unspecified % of pre-bonus profit?

Or that the company chose to publicly announce their generosity?

#IamGood

It has nothing to do with a % of pre-bonus profit.

quote:

What is new? Distribution of bonuses that represent some unspecified % of pre-bonus profit?

Or that the company chose to publicly announce their generosity?

Bah! Humbug!

Yeah, the 1 week new hire got $100.

Funny to see people bitching about the giving of bonuses. Proves some people are eternally pissed off at life.

quote:

The company gets to write it off and guess what? the employees get to pay taxes on their bonus.....

Most people don't understand how write offs work. How does "writing off" those bonuses help the company?

I wasn’t bitching about the payment of bonuses. I was bitching about the self-boasting by management of its generosity.

If you feel the need to publicize your charity, you should wonder as to what truly prompted your charity.

quote:

Originally posted by 1s1k: It has nothing to do with a % of pre-bonus profit.

I was referring to the decision to pay the total sum, not the decision regarding the allocation of that sum.

quote:

Originally posted by FHHM213:
I wasn’t bitching about the payment of bonuses. I was bitching about the self-boasting by management of its generosity.

If you feel the need to publicize your charity, you should wonder as to what truly prompted your charity.

So lame. You do realize that, even if the company didn't publicize it, the news of their act was going to eventually get out, right? So, what's the BFD? As said above, "some people are eternally pissed off at life".

Q, I readily admit to having my days of being pissed at life. But eternally pissed? Not at all. Instead, I’m quite joyful about life eternally. I truly hope you understand the distinction.

Thanks.