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- November 06, 2000
- Vol. 54
- No. 19
Sharing the Wealth
Charlie Butcher Sells His Floor-Polish Business and Gives His Workers $18 Million
The bonuses, which vary by seniority and position (some got as much as a year's salary), left most workers "just plain incoherent," says McLaughlin, 58. "I almost started crying," says chemical compounder Mark Hamilton, 37, a 16-year Butcher veteran.
"The employees earned those checks," says Butcher, 84, who inherited the business in 1951 and grew it into a company with sales of $75 million last year. Besides, says the former owner, a father of seven children by two marriages who lives in Boulder, Colo., with his wife, Jane, 56, "I have more money than I need. I feel happy to give it away."
November 26, 2015
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