Real-Life 'Wonderful Life' Boss Gives Business to Employees
Battle Foods Employee Handbook Cover by johntrainor
License (according to Flickr): Attribution License
License (according to Flickr): Attribution License
After 46 years running Lueken's Village Foods, he and his family will start transferring ownership of the three-store chain on January 1 to an ESOP (Employee Stock Ownership Program), in which each employee will own stock. The number of shares will be based on their salary and years of service. Two of Village Foods' stores are in Bemidji; a third is in Wahpeton, N.D. Asked by ABC News what prompted him to give away his business, Lueken says it just struck him as the right thing to do. He considered other options, including selling out to a private buyer; but when he talked to his family about it, his wife and four sons agreed that handing it off to the employees made sense, considering how much his employees, past and present, had done for him. "It wasn't just the best option," says Lueken.
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Foods ownership employee stock come crashing ABC News the right thing Bemidji salary managers ESOP business janitor Minn aisles trembling beneficiary bakers electrodes buyer four sons surgeon chain procedure signage displays disease the morning community education the two company the surgeon the operationPeople:
Joe Lueken
Overall Sentiment: -0.0118503
Relevance: 0.895311
| Sentiment | Quote |
|---|---|
| -0.264754 | "It wasn't just the best option," says Lueken. |
| -0.206136 | "It wasn't just the best option," says Lueken. "It was the only option." |
| Sentiment Stats: |
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Brent Sicard
Overall Sentiment: 0.0993997
Relevance: 0.27878
| Sentiment | Quote |
|---|---|
| -0.0569037 | Sicard says he first came to Lueken's attention when, every morning at 3:30, Lueken "would come crashing through the doors and start restocking the aisles. It would be just him and I and a few bakers, that early in the morning." |
| Sentiment Stats: |
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Leuken
Overall Sentiment: 0
Relevance: 0.0851991
Key:
- Aggregate Sentiment is meant to be an indicator of an individual's overall sentiment.
- The Mean is meant to be an indicator of an individual's average comment sentiment.
- The Standard Deviation, when there are enough quotes, will indicate an individual's consistency of sentiment (i.e. a Standard Deviation of 0 would mean they were very consistent in their sentiment and 1 would mean they were very inconsistent).
Note that quote stats are likely to be meaningless beyond the aggregate score due to the tiny sample size. However, they are always provided just in case you find something useful there.
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- abc news
- abc news online
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- bemidji
- brent sicard
- business news
- employee stock ownership plan
- esop
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- frank capra
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- its a wonderful life
- joe lueken
- luekens village foods
- minneapolis star-tribune
- Minnesota
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- moneyscope
- n.d.
- online news
- parkinsons disease
- personal finance
- stock quotes
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- wahpeton
Webpage Provided Title:
Real-Life 'Wonderful Life' Boss Gives Business to Employees
Provided Desc:
'It's a Wonderful Life' has come to life in Bemidni, Minnesota, with a hero as public-spirited as the George Bailey of the Capra classic. Grocery mogul Joe Lueken, 70, literally is 'giving away the store,' to his 400 employees. After 46 years running Lueken's Village Foods, he and his family will start transferring ownership of the three-store chain on January 1st to an ESOP (Employee Stock Ownership Program), in which each employee will own stock. The number of shares will be based on their salary and their years of service.
Source URL: Click Here
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