Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

femmocrat

(28,394 posts)
Tue Apr 26, 2016, 07:01 PM Apr 2016

A Windfall for Chobani Employees: Stakes in the Company

NEW BERLIN, N.Y. — The 2,000 full-time employees of the yogurt company Chobani were handed quite the surprise on Tuesday: an ownership stake that could make some of them millionaires.

Hamdi Ulukaya, the Turkish immigrant who founded Chobani in 2005, told workers at the company’s plant here in upstate New York that he would be giving them shares worth up to 10 percent of the company when it goes public or is sold. The goal, he said, is to pass along the wealth they have helped build in the decade since the company started. Chobani is now widely considered to be worth several billion dollars.

“I’ve built something I never thought would be such a success, but I cannot think of Chobani being built without all these people,” Mr. Ulukaya said in an interview in his Manhattan office that was granted on the condition that no details of the program would be disclosed before the announcement.

“Now they’ll be working to build the company even more and building their future at the same time,” he said.


More at link: http://www.nytimes.com/2016/04/27/business/a-windfall-for-chobani-employees-stakes-in-the-company.html?_r=0
6 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
A Windfall for Chobani Employees: Stakes in the Company (Original Post) femmocrat Apr 2016 OP
How wonderful. blm Apr 2016 #1
Makes me want to buy that yoghurt brand. I'll keep it in mind JDPriestly Apr 2016 #2
It is my favorite brand. nt awoke_in_2003 Apr 2016 #6
Sadly the day it goes public Egnever Apr 2016 #3
Yep, going public makes good management impossible. Odin2005 Apr 2016 #4
What kind of message does that send? gratuitous Apr 2016 #5

blm

(113,065 posts)
1. How wonderful.
Tue Apr 26, 2016, 07:02 PM
Apr 2016

These are some of my favorite stories. So hopeful. The right blend of socialism and responsible capitalism.

We need more stories like this.

JDPriestly

(57,936 posts)
2. Makes me want to buy that yoghurt brand. I'll keep it in mind
Tue Apr 26, 2016, 07:08 PM
Apr 2016

next time I shop for yoghurt. I eat a lot of it, and I mean every day.

 

Egnever

(21,506 posts)
3. Sadly the day it goes public
Tue Apr 26, 2016, 07:10 PM
Apr 2016

Will also be the day employees start getting shafted.

The ones lucky enough to work there full time will likely do well it will be all the employees that follow that will eventually get the same treatment every other employee of a public company gets. Second to profit no matter what.

gratuitous

(82,849 posts)
5. What kind of message does that send?
Tue Apr 26, 2016, 11:14 PM
Apr 2016

You work hard, help build the company, remain loyal, and you get rewarded? Doesn't that just create dependency? Why isn't the owner just stuffing his pockets and paying people the least he can legally get away with? Mr. Ulukaya isn't a very good Republican!

Latest Discussions»General Discussion»A Windfall for Chobani Em...