In a sign that not all people are capitalistic monsters, Bob Moore, the founder of Bob’s Red Mill in Oregon, has decided to give his company to the 209 employees that work there. Bob could have sold the company for a large sum of money but decided that money isn’t everything. WOW!
Bob has turned down a number of buyout offers over the years and the business continues to grow steadily. A company news release shows that they are growing over 20% annually.
In order to qualify for a stake in the ownership, an employee needs to be vested over a three year period.
I’ve been down to their retail store in Oregon and was very impressed with the operation. I have purchased a number of their gluten free products and have never been disappointed. It’s a great company!
Anyway, I just love reading stories like this. It seems to blur out many of the other negative stories out there about “profit at all costâ€. I bet Bob sleeps pretty darned good at night!
Give the company to his employees? I felt pretty good when the guy who owned a company gave us each two grand for each year we worked for him. For me it was 10 grand in 1991.