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Grocer, 70, gives stores to his employees for free (Old Article before Christmas but well worth reading)

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#1 Dazzle


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Posted 17 January 2013 - 11:26 PM


Just in time for Christmas, a retiring Minnesota grocery store owner is giving his roughly 400 employees quite a gift — ownership of his three stores.
Instead of accepting any of the multiple offers he received from large national chains to purchase his stores, Joe Lueken, 70, will transfer ownership of his two Lueken’s Village Foods in Bemidji, Minn., and another one in Wahpeton, N.D., to his employees as part of an employee stock ownership plan (ESOP). The transfer of ownership from the Lueken family to the employees will begin on Jan. 1, and will not cost the employees any money.
The amount of shares each employee receives will be based on length of service and salary. The program is expected to pay the Lueken family off for the sale in three to five years, according to a report by the Minneapolis Star Tribune.
“My employees are largely responsible for any success I've had, and they deserve to get some of the benefits of that," Lueken told the Star Tribune. "You can't always take. You also have to give back."

After being informed by his two sons that they were not interested in taking over the business, Lueken and his family came up with the employee stock ownership plan to transfer ownership.
"We could have hired a gunslinger from Minneapolis, but that didn't sit well because the reward wouldn't go to the proper people," Lueken's son Jeff told the Star Tribune.
After 46 years in the business, Lueken, who has Parkinson's disease, is retiring to travel the world with his wife. Lueken announced last week that Brent Sicard, who started in a janitor job at Lueken’s in 1998 and worked his way up to a top management position, will take over as the company’s president and chief executive officer.
Lueken has acted like a regular guy even as his business grew, driving vans for the company and hanging out in the break room with the other employees over the years, according to the Star Tribune.

"Joe would arrive at 3:30 every morning," Sicard told the newspaper. "No one could outstock Joe. No one could outwalk Joe. No one can outthink Joe. He can walk through a $2 million warehouse and tell you within a few thousand dollars how much is in there."
Lueken has also been giving to charitable causes for years, helping the Bemidji State University Foundation give scholarships to students in need.

I know this is an older article but there's talk of war nowadays with Al-Qaeda in Africa, unsettling tremors in the US over the gun control issue, local shootings, corruption scandals, let alone the rest of the stuff that I can't humanly list here, this article really made me feel ashamed of myself, seeing how generous this guy is.
Posted Image --> THANKS EGATTI.

I have to say Dazzle's was the coolest. ROTFLOL

#2 My Account

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Posted 18 January 2013 - 12:05 AM

I hope if I were to be that successful and have enough money to live my life our comfortably I would be that generous but I doubt it
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Thanks avelanch for the sick signature

#3 G.K. Chesterton

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Posted 18 January 2013 - 12:25 AM

Jimmy Pattison's going to do this with his company when he retires, right?
“Reason is itself a matter of faith. It is an act of faith to assert that our thoughts have any relation to reality at all.” - G.K. Chesterton

“Unbelief is as much of a choice as belief is. What makes it in many ways more appealing is that whereas to believe in something requires some measure of understanding and effort, not to believe doesn't require much of anything at all.” - Frederick Buechner

“All human nature vigorously resists grace because grace changes us and the change is painful.” - Flannery O'Connor

“My argument against God was that the universe seemed so cruel and unjust. But how had I got this idea of just and unjust? A man does not call a line crooked unless he has some idea of a straight line. What was I comparing this universe with when I called it unjust?” - C.S. Lewis

#4 nucklehead


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Posted 18 January 2013 - 07:45 AM

Jimmy Pattison's going to do this with his company when he retires, right?

bahahahahahaha...good one. Thanks for the laff, much appreciated.




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#5 Russ


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Posted 18 January 2013 - 09:04 AM

Jimmy Pattison's going to do this with his company when he retires, right?

Hahahahhahaha your funny!
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