BMW announces big profit-sharing bonus for workers
BMW AG said Thursday that its German employees could get profit-sharing bonuses worth more than a month-and-a-half's salary following a strong performance last year for the luxury automaker.
BMW said the bonuses, to be paid in July, will be its highest yet. The payments will range up to 156.8 percent of a month's wages, it said, compared with a top level last year of 155.9 percent.
Here's how it works: CEOs are presented with one large check, in their own names. They then cash those checks and personally go around handing out shares of the profits to their grateful and deserving employees.
Doing it this way saves on paperwork costs -- more profits for everybody! -- and cements the bond between top executives and workers.
The only reason we never hear about this is because American executives don't get all showboaty about it like those foreigners.
Wake up, media. Seriously.
--- Cross-posted at Bloginàge ---