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  1. #1
    Banned! Motherload's Avatar
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    Default Chobani CEO Giving Employees An Ownership Stake In Yogurt Empire

    Now THIS is what I have been talking about on here endlessly. Hamdi Ulukaya is the kind of person making America great again and who cares about his employees - when the vast majority of companies in the "market" just don't give a fuck about the people who work for them. If they could they would prefer to pay their employees in jelly beans as opposed to money.

    Greek yogurt may or may not be good for the waistline. But if you're an employee of Greek yogurt maker Chobani, it can be good for your bottom line.

    Hamdi Ulukaya, Chobani's CEO, said Tuesday that he will award his full-time employees an ownership stake in the privately held company.

    The awards, which total around 10% of the company's value, will only be worth something in the event of an IPO or sale of the company.

    "This isn't a gift. It's a mutual promise to work together with a shared purpose and responsibility. To continue to create something special and of lasting value," Ulukayaa said in a letter to staff.

    Ulukaya started Chobani in 2007 with a loan from the Small Business Administration and five employees. Today, he has more than 2,000 employees across the country and the company produces more than $1 billion in revenue a year, said company spokesman Michael Gonda.

    The amount each employee gets will depend on their tenure with the company and the role they play. Gonda would not comment on the size of individual awards.

    But the New York Times estimated that the average award could be worth $150,000 based on a $3 billion valuation of the company. Some awards, for employees with the longest tenure, could top $1 million, according to the paper.

    This is not the first time that Ulukaya has tried to do right by his employees and those who have less. He's been a vocal supporter of a higher minimum wage and has hired hundreds of refugees fleeing countries ravaged by terror. He's also signed the Giving Pledge, created by Warren Buffet and Bill and Melinda Gates to encourage billionaires to give away much of their wealth.

    His employees are lining up to hug him in the video below. That's awesome.

    Last edited by Motherload; 04.27.16 at 03:21 PM.

  2. #2
    Atomic Punk lovemachine97(Version 2)'s Avatar
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    Good for him. I hope it works out for him and his employees.

    LOL at him as a private business voluntarily paying higher wages but supporting the government raising the wages of his competitors, though. Not hard to see right through that. Last month, he wrote, "Higher wages help us keep and motivate passionate people . . . We understand that not all businesses can follow this path on their own. Because Chobani is a private and independent company, we have the freedom of following our own conscience when it comes to our business practices. Others may have to worry about shareholders and the impact of higher wages on quarterly profits, even when there is a long-term benefit. That is why an increase in the minimum wage is important. It gives companies the permission to do the right thing without suffering a competitive disadvantage."

    Yeah, it just gives him a competitive advantage.

    I applaud him for giving away most of his fortune, but I have to wonder if, like Buffet, he is in favor of higher taxes on the rich, but instead will give his wealth away to private ventures.

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  4. #3
    Atomic Punk Dave's Dreidel's Avatar
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    From what was written, that's a little misleading. He didn't give them ownership.

    He gave them Class B shares, which can be converted to Class A shares upon the occurrence of a specific "trigger" event.

    Lots of companies do it, my wife's company for one.

    It is a perk, but it's real benefit is to try and entice employees to stay for the potential big "payday". But it technically is not stock in the company, those employees who quit tomorrow more than likely can't take those shares with them.
    Taylor Swift is nice to look at. Adele can sing.

    Emperor Brett - "I can't believe you guys are analyzing song-by-song Van Halen III? What next, analyzing the script of Stroker Ace looking for some shred of Citizen Kane?"

    David Lee Roth did the impossible. He made Van Halen better. Deal with it!

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  5. #4
    Forum Frontman It's Mike's Avatar
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    DD is right. Not uncommon for growing companies. Hope they do great with the stock

    Sent from my Z10 using Tapatalk

  6. #5
    Atomic Punk Dave's Dreidel's Avatar
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    Quote Originally Posted by It's Mike View Post
    DD is right.
    It's the cross I bear.

    That, and being devastatingly good looking.
    Taylor Swift is nice to look at. Adele can sing.

    Emperor Brett - "I can't believe you guys are analyzing song-by-song Van Halen III? What next, analyzing the script of Stroker Ace looking for some shred of Citizen Kane?"

    David Lee Roth did the impossible. He made Van Halen better. Deal with it!

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  7. #6
    Forum Frontman It's Mike's Avatar
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    Quote Originally Posted by Dave's Dreidel View Post
    It's the cross I bear.

    That, and being devastatingly good looking.
    I know it well. Well except for the being right and being good looking parts.

    Sent from my Z10 using Tapatalk

  8. #7
    Hang 'Em High
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    I like:



    and


    ~~8 U.S.C. § 1182(f)~~

  9. #8
    Atomic Punk bklynboy68's Avatar
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    Quote Originally Posted by The Rover View Post
    I like:



    and

    fuck Chobani
     "He has a swaggering retro machismo that will give hives to the Steinem cabal" -Camille Paglia on Donald Trump

    "Make way for the bad guy"- Tony Montana

    'This hamburger don't need no helper"- David Lee Roth

    "I wish Bon Jovi would've given me a call before he recorded all of his hits, because the lyrics would've been smarter, the melodies would've been much more smashing, and they would've sold a lot fewer records." -David Lee Roth

    "My beef is people thinking Bon Jovi is good cuz they sold lots of records to housewives." -tango

    "But being number one doesn’t really mean jack fuck all. We sold twice as many records as other records that year (1984) that landed in the Number One position." ~Eddie Van Halen

  10. #9
    Hang 'Em High
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    Quote Originally Posted by bklynboy68 View Post
    fuck Chobani
    Well, I prefer to eat Chobani, but whatever floats yer boat!!

    ~~8 U.S.C. § 1182(f)~~

  11. #10
    Sinner's Swing! Rokgtar's Avatar
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    Quote Originally Posted by The Rover View Post
    Well, I prefer to eat Chobani, but whatever floats yer boat!!
    Between you and Brook, Chobani is one happy, uh, chick...?

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  13. #11
    Atomic Punk Dave's Dreidel's Avatar
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    Well played...golf clap to you.
    Taylor Swift is nice to look at. Adele can sing.

    Emperor Brett - "I can't believe you guys are analyzing song-by-song Van Halen III? What next, analyzing the script of Stroker Ace looking for some shred of Citizen Kane?"

    David Lee Roth did the impossible. He made Van Halen better. Deal with it!

    Preferred pronouns: he/him/his

    Hurricane Halen - Let's all gingery touch our sword tips!!!

    DONATE TO THE LINKS YA CHEAP BASTARDS!!!!

  14. #12
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    BOTTOMS UP !

    ~~8 U.S.C. § 1182(f)~~

  15. #13
    Atomic Punk Dave's Dreidel's Avatar
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    Quote Originally Posted by The Rover View Post
    Well, I prefer to eat Chobani, but whatever floats yer boat!!
    So, with the blueberries on the bottom, does that mean Brook's the yogurt and...man, this is so confusing.
    Taylor Swift is nice to look at. Adele can sing.

    Emperor Brett - "I can't believe you guys are analyzing song-by-song Van Halen III? What next, analyzing the script of Stroker Ace looking for some shred of Citizen Kane?"

    David Lee Roth did the impossible. He made Van Halen better. Deal with it!

    Preferred pronouns: he/him/his

    Hurricane Halen - Let's all gingery touch our sword tips!!!

    DONATE TO THE LINKS YA CHEAP BASTARDS!!!!

  16. #14
    Atomic Punk bklynboy68's Avatar
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    Quote Originally Posted by Dave's Dreidel View Post
    So, with the blueberries on the bottom, does that mean Brook's the yogurt and...man, this is so confusing.
     "He has a swaggering retro machismo that will give hives to the Steinem cabal" -Camille Paglia on Donald Trump

    "Make way for the bad guy"- Tony Montana

    'This hamburger don't need no helper"- David Lee Roth

    "I wish Bon Jovi would've given me a call before he recorded all of his hits, because the lyrics would've been smarter, the melodies would've been much more smashing, and they would've sold a lot fewer records." -David Lee Roth

    "My beef is people thinking Bon Jovi is good cuz they sold lots of records to housewives." -tango

    "But being number one doesn’t really mean jack fuck all. We sold twice as many records as other records that year (1984) that landed in the Number One position." ~Eddie Van Halen

 

 

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