Boss gives company to workers.

[RedCloud]

Source: ABC news videos

Bob Moore's 200 employees showed up to work as usual this week — only to get a huge surprise

Read more: http://abcnews.go.com/WNT/video/boss-company-workers-9882190

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Wow!

[ET Awful]

1. I buy their products constantly . . . excellent organic flours and such.

I think I like them even more now :)

[dysfunctional press]

18. i just got my latest shipment of coconut flour and almond flour...

people are always asking me the 'secret' behind my baked goods...sometimes i tell them.

[Lorien]

25. Their products are excellent!

I just bought a bag of their gluten free all purpose flour. It costs a little more but it's well worth it-and now I feel even better about spending a little extra for a superior product from an exemplary company!

[mod mom]

2. I'm glad to say I buy his product and will certainly continue in the future!

[blm]

3. same here....

.

[derby378]

4. Here's a print version of the story

http://www.oregonlive.com/clackamascounty/index.ssf/2010/02/bobs_red_mill_natural_foods_ro.html

And here's the company website:

http://www.bobsredmill.com/

[tavalon]

5. As someone with celiac sprue, I need the specialty flours

that his company sells. It makes me feel even better buying the stuff because of this.

[SidDithers]

13. I didn't know you were a Celiac...

there are a few others kicking around DU as well. (not me, but my daughter is a Celiac kid, so we're basically gluten-free in our house)

I might start posting GF recipes in the Cooking and Baking group :)

Sid

[Soylent Brice]

21. the UBER-MILITANT wing of DU, Cooking and Baking Group???

:scared:

lol

[tavalon]

23. I've been thinking the same thing

I've been gluten free for almost a decade and it fixed so many of my strange ailments. We found out by accident when we decided to make our autistic kiddo gluten and casein free - I was the guinea pig for trying the diet and my response to going off gluten was extreme so I went back on gluten and got the testing (small bowel biopsy) and I definitely have it. Our household is also completely gluten free because we can't afford to have foods around that our kiddo might eat that have gluten.

[YOY]

6. Glad to keep his grits on top of my fridge.

n.t.

[HowHasItComeToThis]

7. GRAYBAR DID THAT TOO

I THINK I RECALL

[Jennicut]

8. Wow. That was an amazing gift to his workers. Loyalty to the people who help

you make the business what it is. We have lost some of that, glad to see it here. Good man and great company.

[surrealAmerican]

9. It's refreshing to see business conducted in a humane manner.

It ought to be unexceptional.

K & R

[The_Commonist]

10. Just made some cornbread...

...with one of his mixes the other night.

Good stuff, and obviously he's a good fellow!

[Mudoria]

11. Wonderful story

[The Backlash Cometh]

12. That would be a wonderful social study.

I would love to see how they handle promotions, and find out who is going to work the books once the current accountants retires.

[earth mom]

14. Wow I just love this story so much that it brings tears to my eyes...

:cry:

We buy Bob's Red Mill products all the time and this just makes me want to buy even more! :loveya:

[TommyO]

15. What an incredible thing to do

I liked this:

For Moore, meanwhile, nothing about the new arrangement will change a thing. He plans to do for the foreseeable future what he has done every day for decades.

"I may have given them the company,'' he said, chuckling, "but the boss part is still mine."

[12AngryMen]

16. Excellent

Red Mill is great.

In addition to the excellent flours the way they grind the grains is also to be commended.

Rather than use smaller, faster wheels that bring about more heat and thusly reduce overall health of the flour they use larger slower turning wheels at Bob's, at least they use to.

[Veruca Salt]

17. I've got a new oatmeal supply now

looking forward to trying that and some of their other products!

[suffragette]

19. Fantastic news

Glad to support a company that values its workers so highly.

Just used their potato starch the other day - made a great sauce.

Will definitely make a point of purchasing their products.

[ellie]

20. I love Bob's Scottish oatmeal!

I eat it every morning. In fact, I always buy Bob's stuff.

[bluesmail]

22. My daughter worked for his brother Ken Moore

when she was in H.S. in Mendocino County. HA! Way to go.

[galileoreloaded]

24. Good Lord Almighty, this is a common tactic for tax defferal called an ESOP.

Not sure if this is the case here, but at the least it is poor reporting not explaining the mechanism.

If it IS an ESOP, it has monster tax advantages to the seller "ol freindly Bob", and shifts the income tax burden to his employees.

So, 'ol Bob gets a fat residual every month (at a preferred tax rate)out of the operating income, the employees get a vesting schedule, say 5 years.

[WillowTree]

26. Pay closer attention.

While it is, in fact, and ESOP, he's not selling his stock to the stock option plan, he's making a gift of the stock to the plan.

Healthy skepticism can be a good thing, but it ain't healthy if it's not based on the facts.


















w

[galileoreloaded]

28. Well, if it IS an ESOP, then say bye bye taxburden for 'ol Bob on this years return, oh and if it is

a c-corp, then his previous taxable cycles deffered burden evaporates as well.

This sounds like ABC provided some spin cover.

[Selatius]

27. This is true if he is selling his ownership to the workers. Not true if he is gifting it instead.

If it is the latter, then whatever the employees pay the former owner is entirely up to them.

[grace0418]

29. YAY! Finally! A product I adore is made by an awesome company! Take that Oberweiss!

I buy Bob's Red Mill stuff all the time!