Man Gives Company To Employees On 81st Birthday

In his 81 years, Bob Moore has built a mini empire with his health food company, Bob's Red Mill Natural Foods. During his recent birthday celebration, he told his dedicated employees that he's passing the torch and ownership of his multimillion dollar business to them, the Seattle Times reports.

Under Moore's plan, any worker with at least three years tenure is now fully vested in the company, and will receive cash from revenues when they quit or retire. While Moore declined to say how much the company is worth, a 2004 publication estimated that year's revenue at $24 million and recent company news releases have reported an annual growth rate of 20 to 30 percent.

"In some ways I had a choice," Moore said of what he could have done with the company he founded with his wife, Charlee, in 1978. "But in my heart, I didn't. These people are far too good at their jobs for me to just sell it."

Employees are still coming to terms with what the ownership plan will mean to them.

"It just shows how much faith and trust Bob has in us," said Bo Thomas, the company's maintenance superintendent, who has put his four children through college during his two decades there. "For all of us, it's more than just a job. Obviously, it's the same way for Bob, too."

To read the full story about Moore's birthday gift to his employees visit the Seattle Times. You can also watch a video of the story at Darynkagan.com.

Comments

[propitiousmoment]

03:09 AM on 03/15/2010

For some reason I put off reading this story, but now that I finally did, I'm so glad. I have been using Red Mill products for several years and they are excellent. Now I like them even more because of Mr. Moore. Best wishes to the new owners! I will do my part to make sure their company continues to thrive.

[stargazer13]

10:43 AM on 03/06/2010

this man looked at his employees and saw that they were human

and there are those here who for what ever reason diss this guy

he created a company with the help of his wife and sat back looked at his baby !

and said my employees have worked hard for me and this company !

I shall place this baby in there hands !! he is free to do as he wishes with his creation !!

and there are those here on this thread who would force him if they could to sell his company in stead of giving it to his employees !! shame on all of you !! this is America and in America we are suppose to be free !! this action on his part has made him and his wife happy as well as all of his employees !!

[ewat85]

12:03 AM on 03/10/2010

Next there will be investor owned banks .... NOOOO credit unions.

Dude you are seriously questioning the benevolent nature of a man who built a multi-million dollar company and then gave it to his employees. What is more distressing is that you then liken this act to communism. Glenn Beck called and he wants his crazy back. Next you'll be claiming that Andrew Carnegie was a communist because he gave away all of his money before and upon his death (that donation is valued in the Billions by the way).

If you cannot find goodness in a good act then there is something wrong with you. I suggest psychiatry. Seriously.

[RavenWest]

02:08 PM on 03/03/2010

I wonder if anyone realizes this is actually one of the pillars that communism is based off of, worker ownership of business, yet here we are applauding it as truly american? So I assume it's it just the label that we're afraid of? Because apparently this guy is a great human being.

[mjwca]

08:48 PM on 03/04/2010

And maybe communism aint' so bad if its done right just like democracy ain't so good when its done wrong.

[stargazer13]

10:29 AM on 03/06/2010

Truth be spoken Hear!

[ewat85]

12:05 AM on 03/10/2010

look up - that comment is directed at you

[PlayTOE]

12:37 PM on 03/03/2010

Typical American dream, you work hard, contribute to the success of a company, and then get rich.

Finally it actually worked out that way for once.
Usually the company just uses you then tosses when done like so much trash.

[echoshatter]

11:54 AM on 03/03/2010

And now we see if this becomes a modern Twentieth Century Motors or not.

[echoshatter]

10:38 AM on 03/03/2010

Vested interest in a company's well-being is one thing, but running a company via direct democracy is probably a terrible idea.

These folks would be wise to set up some kind of executive position. Otherwise, who makes the hard decisions? Who says "we can't afford raises this year" and the like? Even worse is the distrust and fear among coworkers - the fear that any one of them could bring up a motion to have you fired.

[mtm4882]

11:03 AM on 03/03/2010

A little too much Soc.ialism for your taste?

[echoshatter]

11:51 AM on 03/03/2010

More a fact of education, experience, and human nature than socialism per se.

A direct democracy is rule of the lowest common denominator. Do you really think the people with a high school diploma are going to be able to make the same good, informed decisions on complex legal and financial issues?

[mjwca]

08:51 PM on 03/04/2010

You don't understand much about employee ownership do ya?

[Aabby]

10:19 AM on 03/03/2010

what a man! what a legacy!

[ojim]

10:17 AM on 03/03/2010

This is reassuring. It tells me we're not all crazy. Employee owned business and co-operatives are already showing up.

[liberalhammer]

10:15 AM on 03/03/2010

true american hero

[isaidit]

08:54 AM on 03/03/2010

This is a fine example of 'real America' all you Palin bobble heards out there.

[jsarets]

08:37 AM on 03/03/2010

I get wheat berries, hull-less barley, and steel-cut oats from Bob's Red Mill. They're great. They sell hulled hemp seed now, but it's a little bit more expensive than the Canadian mills that get their seed from local farmers. Bob's is a one-stop shop for highly nutritious foods that won't make you fat and sick like the Standard American Diet.

[Hopemonger38]

08:16 AM on 03/03/2010

I use these products!
Now I know to enjoy them even more.
Thanks, Bob, for the gluten-free options you have priovided.

[lindabear]

07:57 AM on 03/03/2010

This article just made my day!!!!! What a wonderful human being.

[Treehuggindirtworshiper]

07:55 AM on 03/03/2010

This is his web site. I've never seen these products in my grocery store but I'll get them on line now!
http://www.bobsredmill.com/

[johnintn]

07:51 AM on 03/03/2010

Another example of Obama-style "wealth redistribution." Capitalism is supposed to be about sucking the most profit out of any enterprise while paying your employees a pittance and when you're dead, nepotistically leaving all of that profit to friends and family and the maligned "death tax." Yeppers.

[CptKendrick]

07:55 AM on 03/03/2010

Right on! This guy is just another misguided commie!

[ptobe]

09:01 AM on 03/03/2010

Yeah! How are those workers ever supposed to learn that they are of no inherent value and will amount to nothing unless they exploit someone else's work to make obscene profits? People are gonna start thinking that hard work pays off, even if you're not a CEO!

Time to bring in Blackwater.

[DannyGee]

10:33 AM on 03/03/2010

Obama-style wealth redistribution is at the barrel of a gun. This was voluntary. Slight difference.

[Uncle Bill]

04:23 PM on 03/05/2010

Did he have to point a gun at you to get you to take your tax cut? What a dedicated patriot you are- voluntarily paying down the deficit Bush left us with.