Family business sold, but workers get major bonus
CHICAGO — Dave Tiderman wondered if the decimal point was in the wrong place when he opened his $35,000 company bonus. Jose Rojas saw his $10,000 check and thought, “That can’t be right.â€
Valentin Dima watched co-workers breaking down in tears over their bonus checks and didn’t trust his emotions. He drove home first, then opened his envelope: $33,000.
Year-end bonuses are rare these days. Rarer still is what the Spungen family, owners of a ball bearings company in Waukegan, about 40 miles north of Chicago, did as they sold the business.
They gave out whopping thank-you bonuses.
A total of $6.6 million is being shared by just 230 employees of Waukegan-based Peer Bearing Co., with facilities in England and the United States. Amounts varied and were based on years of service.
