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Omaha Steve

(99,589 posts)
Mon Jun 16, 2014, 04:49 PM Jun 2014

Employer hands out $61K in bonuses — all in $2 bills

Source: Omaha World Herald

By Robert Pore

Workers at Hornady Manufacturing in Grand Island got something interesting in their pay envelope Friday.

According to Jason Hornady, vice president at Hornady Manufacturing, the company handed out $61,000 worth of $2 bills to its employees as part of the company’s annual bonus pay.

Hornady Manufacturing is one of Grand Island’s leading employers with more than 300 people on its payroll.

Hornady said this is the third year the company has given its employees a portion of their annual bonuses in an unusual manner.

FULL story at link.


Read more: http://www.omaha.com/money/employer-hands-out-k-in-bonuses-all-in-bills/article_545926ac-f3e7-11e3-ae0a-0017a43b2370.html





BARRETT STINSON/WORLD-HERALD NEWS SERVICE
This is what a $61,000 pile of $2 bills looks like.
46 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Employer hands out $61K in bonuses — all in $2 bills (Original Post) Omaha Steve Jun 2014 OP
Some happy workers! n/t tom_kelly Jun 2014 #1
Where the hell can you even get $2 bills? Blue_Tires Jun 2014 #2
'Today, there is a common misconception by the public that the $2 bill is no longer in circulation' onehandle Jun 2014 #4
I just go in my bank and ask for them! (nt) Ino Jun 2014 #6
It is when they pay the bonuses in $3 bills that you have to worry. olddad56 Jun 2014 #7
lol n/t Psephos Jun 2014 #31
You laugh and you scoff, but... KamaAina Jun 2014 #35
People horde them davidpdx Jun 2014 #9
I kept the last few my aunt sent me Blue_Tires Jun 2014 #17
My brother has several thousand dollars-worth of $2 bills. Aristus Jun 2014 #34
$2 bills are produced by the mint everyday. former9thward Jun 2014 #11
The "Mint" doesn't produce $2 bills Art_from_Ark Jun 2014 #18
It is very easy to get the bills no matter who is producing them. former9thward Jun 2014 #22
Well, that depends Art_from_Ark Jun 2014 #39
Those are not the ones people are pulling out of circulation. former9thward Jun 2014 #43
Even though most of the $2 bills will not appreciate in value Art_from_Ark Jun 2014 #46
Technically there are five mints, but it reality there are only three for us unwashed commoners Brother Buzz Jun 2014 #33
Fort Knox is not a mint because it doesn't produce coins Art_from_Ark Jun 2014 #38
Yes, the United States Mint Facility at Fort Knox is a bullion depository.... Brother Buzz Jun 2014 #40
Interesting that the US Mint calls Fort Knox a "mint" Art_from_Ark Jun 2014 #41
Wrong country... canuckledragger Jun 2014 #16
Don't you guys call them the Loonies & the Twonies? CrispyQ Jun 2014 #24
Yes we did... canuckledragger Jun 2014 #28
We have dollar coins. They are a little bigger than a quarter and have presidents on the front. yellowcanine Jun 2014 #32
This. Chan790 Jun 2014 #36
Makin' Money makin' Bullets PeoViejo Jun 2014 #3
...As Wall St no doubt scolds the move Populist_Prole Jun 2014 #5
not a public company, but if they were and $61,000 made a real difference in their bottom line.. olddad56 Jun 2014 #8
All bonuses anywhere are income. former9thward Jun 2014 #12
I get the $2 bill reference for the 2nd Amendment and all. ManiacJoe Jun 2014 #10
It's really because the $2 is an unusual denomination jmowreader Jun 2014 #13
Yah, that too. ManiacJoe Jun 2014 #14
Too lazy to go to the bank to deposit $61k? Calista241 Jun 2014 #15
Willing to complain all the way to the bank ManiacJoe Jun 2014 #21
I'm always afraid of losing it. Hassin Bin Sober Jun 2014 #30
Bullets Reloaders and Ammunition is paying off well. nt Snotcicles Jun 2014 #19
From Wikipedia gvstn Jun 2014 #20
I love "Where's George!" CrispyQ Jun 2014 #25
Interesting, I'll keep an eye out for these. Thanks! gvstn Jun 2014 #27
horray for them--I was stiffed a few times out of a bonus and some commissions dembotoz Jun 2014 #23
This just in........... thelordofhell Jun 2014 #26
awesome way to launder money gained from illegal ammunition sales....nt Evasporque Jun 2014 #29
How exactly does one launder money via $2 bills? NickB79 Jun 2014 #37
Seriously? Michigander_Life Jun 2014 #42
Also, what are "illegal ammunition sales"? NickB79 Jun 2014 #44
so they each got 100 two dollar bills on average. Liberal_in_LA Jun 2014 #45

Blue_Tires

(55,445 posts)
2. Where the hell can you even get $2 bills?
Mon Jun 16, 2014, 05:12 PM
Jun 2014

I thought they were out of circulation??

My aunt used to put them in my birthday cards back in the day...

davidpdx

(22,000 posts)
9. People horde them
Mon Jun 16, 2014, 07:30 PM
Jun 2014

When I exchanged some money in Manila a few years ago, I received 3 $2 bills at one time. My wife has one of them and I have the other two.

Blue_Tires

(55,445 posts)
17. I kept the last few my aunt sent me
Mon Jun 16, 2014, 08:29 PM
Jun 2014

they're squirreled away in an attic somewhere, I think...

They might have been 1982 or 1988 series maybe iirc?

Aristus

(66,316 posts)
34. My brother has several thousand dollars-worth of $2 bills.
Tue Jun 17, 2014, 05:01 PM
Jun 2014

He collects various unusual denominations of bills and coins and keeps them in a safe. He has no real use for them. He's not collecting in hopes of an eventual increase in relative value. He just likes having them.

I suppose I could argue that he's running out of things to spend his money on. The life of a successful businessman...

former9thward

(31,982 posts)
11. $2 bills are produced by the mint everyday.
Mon Jun 16, 2014, 07:36 PM
Jun 2014

You want some, just go into any bank and ask for them. If they don't have what you need they will order from the mint.

Art_from_Ark

(27,247 posts)
18. The "Mint" doesn't produce $2 bills
Mon Jun 16, 2014, 08:40 PM
Jun 2014

The US Mints (there are 4 of them) only produce coins. Notes are produced by the Bureau of Engraving and Printing. Production of $2 bills is sporadic, as some years see no production at all.

http://www.moneyfactory.gov/uscurrency/annualproductionfigures.html

former9thward

(31,982 posts)
22. It is very easy to get the bills no matter who is producing them.
Tue Jun 17, 2014, 09:34 AM
Jun 2014

The problem with the $2 bills are the idiots who think they are valuable and take them out of circulation. $2 bills are worth $2 and will always be worth $2 and not a penny more.

Art_from_Ark

(27,247 posts)
39. Well, that depends
Thu Jun 19, 2014, 07:25 PM
Jun 2014

Your average $2 bill will only be worth $2 well into the future. But $2 bills with unusual or low serial numbers, or so-called "star notes", especially in crisp uncirculated condition, can be worth more than $2.00, sometimes much more.

former9thward

(31,982 posts)
43. Those are not the ones people are pulling out of circulation.
Thu Jun 19, 2014, 09:19 PM
Jun 2014

And giving them to their nephews and nieces like they are some sort of treasure.

Art_from_Ark

(27,247 posts)
46. Even though most of the $2 bills will not appreciate in value
Thu Jun 19, 2014, 09:48 PM
Jun 2014

the $2 bills, and bicentennial coins, that are squirreled away can still serve as savings, as long as they are obtained at face value.

Brother Buzz

(36,416 posts)
33. Technically there are five mints, but it reality there are only three for us unwashed commoners
Tue Jun 17, 2014, 04:21 PM
Jun 2014

Fort Knox doesn't strike coins, and West Point does mostly commemorative and proof coinage bearing the W mint mark, and mostly out of gold. In 1996, West Point produced clad dimes, but for collectors, not for circulation.

Art_from_Ark

(27,247 posts)
38. Fort Knox is not a mint because it doesn't produce coins
Thu Jun 19, 2014, 07:21 PM
Jun 2014

It is a "bullion depository", like West Point was until it started striking commemorative coins starting with the 1984 Los Angeles Olympics $10 gold pieces

Art_from_Ark

(27,247 posts)
41. Interesting that the US Mint calls Fort Knox a "mint"
Thu Jun 19, 2014, 08:09 PM
Jun 2014

but collectors do not refer to it as such because it does not produce coins, and never has.

On edit: Even the US Mint seems to be a bit confused about the proper name of the Ft. Knox facility:

http://www.usmint.gov/about_the_mint/fun_facts/?action=fun_facts13

CrispyQ

(36,457 posts)
24. Don't you guys call them the Loonies & the Twonies?
Tue Jun 17, 2014, 11:26 AM
Jun 2014

Why America doesn't go to dollar coins is beyond me. When I worked in the grocery store way back when, I collected silver dollars & half dollars. Still have them in a jar somewhere.

yellowcanine

(35,699 posts)
32. We have dollar coins. They are a little bigger than a quarter and have presidents on the front.
Tue Jun 17, 2014, 04:06 PM
Jun 2014

No one wants them except collectors so they don't get circulated. People prefer to have the quarter as the largest coin. And with vending machines capable of accepting paper bills now it is doubtful that dollar coins will ever catch on in the U.S.

 

Chan790

(20,176 posts)
36. This.
Tue Jun 17, 2014, 06:21 PM
Jun 2014

People prefer the $1 bill so the coins never catch on. I favor the replacement with coins...but I'm in a minority.

Actually, the goal of introducing the gold $1 coins was to eventually force-change by discontinuing the $1 paper bill as they'd de-circulate and simply cease to exist within an 18 month to 5 year period. Republicans didn't like that idea (I don't remember when...I think we're talking Gingrich as SotH, so...late-1990s--early-2000s?) and wrote language into a bill that was ratified barring redesign or replacement of the $1 bill for a set period of time. That's the reason we update the other denominations every few years but never the $1 bills.

I support getting rid of the $5s too...replacing both the $1 and $5 bill with coinage would save the government billions.

Populist_Prole

(5,364 posts)
5. ...As Wall St no doubt scolds the move
Mon Jun 16, 2014, 05:31 PM
Jun 2014

For making them less "competitive" and may cause "disappointing earnings" next quarter.

Or the other chodes that say "Increased employee earnings cause inflation worries......"

olddad56

(5,732 posts)
8. not a public company, but if they were and $61,000 made a real difference in their bottom line..
Mon Jun 16, 2014, 07:20 PM
Jun 2014

then they would have bigger problems to worry about. My guess is that this company at least got to write off these bonuses and the people getting them had to claim them as income.

former9thward

(31,982 posts)
12. All bonuses anywhere are income.
Mon Jun 16, 2014, 07:38 PM
Jun 2014

Of course you claim it. The bonuses are a company expense and are treated exactly the same as any wages.

ManiacJoe

(10,136 posts)
10. I get the $2 bill reference for the 2nd Amendment and all.
Mon Jun 16, 2014, 07:35 PM
Jun 2014

But honestly, out of laziness I would rather have that in $100 bills or direct deposit.

jmowreader

(50,555 posts)
13. It's really because the $2 is an unusual denomination
Mon Jun 16, 2014, 08:04 PM
Jun 2014

According to the article, the bonus each employee gets is in three parts:

Part 1 is directly deposited into his or her bank account. The article said the bonus is approximately 40 percent of an employee's paycheck, so this is a nice-size lump.

Part 2 is a contribution to the employee's 401(k) account.

The third part is a stack of 100 $2 bills, with instructions to spend it in Grand Island. Apparently the rest of the citizenry don't think Hornady enriches the community...hence Hornady's idea to annually flood the town with an unusual form of currency.

ManiacJoe

(10,136 posts)
21. Willing to complain all the way to the bank
Mon Jun 16, 2014, 11:03 PM
Jun 2014

about the unnecessary weight and bulk of the $2 vs $100 bills.

Hassin Bin Sober

(26,325 posts)
30. I'm always afraid of losing it.
Tue Jun 17, 2014, 02:45 PM
Jun 2014

I hate when customers pay me in cash.

Somebody paid me a thousand dollars in cash a while back so I had it in my pocket for about a week before I could get a chance to make it to the bank. I had an "oh fuck" moment at one point when I thought I lost it.

When I was a finance manager for a car dealership way back when, I used to hate when people would pay in cash or "fold" as we would call it. The old timers would think it was impressive to bring $20k in cash like they were doing me a favor. All it meant is I had to count it twice, watch the cashier count it twice and worry we didn't make a mistake. We once had a used car dealer buy a bunch of our beaters and pay us something like $80k in smaller denominations - that was a nightmare. It took all evening between mistakes and distractions to get the count correct.

Checks I can take a picture of and send to my bank. Better yet are wire transfers.

gvstn

(2,805 posts)
20. From Wikipedia
Mon Jun 16, 2014, 10:02 PM
Jun 2014
Over 3.2 million $2 bills are entered at the American currency-tracking Web site Where's George?[28] Because $2 bills are uncommon in daily use, their use can make a particular group of spenders visible. A documented case of using two-dollar bills to send a message to a community is the case of Geneva Steel and the communities in surrounding Utah County. In 1989, Geneva Steel paid its employee bonuses in $2 bills. When the bills began showing up everywhere, people recognized the importance of the company to the local economy.[29] After the sale of Bear-Stearns to JPMorgan for $2 per share, a two dollar bill was taped above the Bear-Stearns logo at its headquarters to highlight the low sale price.[30]

Use of the two-dollar bill is also being suggested by some gun rights activists to show support for Second Amendment rights, particularly at stores that allow Open Carry or Concealed carry of weapons on their premises


http://en.wikipedia.org/wiki/United_States_two-dollar_bill

Years ago I had been told by someone that he used two dollar bills whenever possible to show the power of the black man's money(it must of been a thing in the late 90's). It looks like today it has been usurped by tourist bureaus and gun rights advocates.

CrispyQ

(36,457 posts)
25. I love "Where's George!"
Tue Jun 17, 2014, 11:31 AM
Jun 2014

I've encountered three Where's George bills. I don't think most people have a clue about it, cuz there are less than five entries on each of the three bills I'm tracking, two singles & a ten.

http://www.wheresgeorge.com/

dembotoz

(16,799 posts)
23. horray for them--I was stiffed a few times out of a bonus and some commissions
Tue Jun 17, 2014, 10:17 AM
Jun 2014

Hell i would have taken the money in pennies

NickB79

(19,233 posts)
37. How exactly does one launder money via $2 bills?
Tue Jun 17, 2014, 09:37 PM
Jun 2014

Especially when you then give news interviews about it?

NickB79

(19,233 posts)
44. Also, what are "illegal ammunition sales"?
Thu Jun 19, 2014, 09:26 PM
Jun 2014

Anyone 18+ can buy ammo with virtually no issues. There are no background checks on bullets like there are with guns.

FWIW, Hornady is selling all the ammo they can make through legal channels and then some. They're backlogged for months on some of their most popular calibers.

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