Supermarket Owner Gives Away Stores to his 400 Employees

[Libertytree]

http://news.yahoo.com/blogs/trending-now/supermarket-owner-gives-away-stores-400-employees-191200868.html

'Tis the season of giving, and a grocery-store owner is doing just that. Joe Lueken (http://www.startribune.com/local/180550281.html?refer=y), who owns and manages two grocery stores in Bemidji, Minnesota, and one in Wahpeton, North Dakota, is retiring at age 70. Instead of selling his stores to the highest bidder, though, he will transfer ownership to the stores' 400 or so employees.


The employees will participate in an employee stock ownership program, receiving shares of Lueken's Village Foods (http://luekens.com/) based on length of service and salary -- and at no cost to them. The program to transfer ownership from the Lueken family to the employees will begin on January 1, 2013.


He explained his reason for turning over ownership to his employees: "My employees are largely responsible for any success I've had, and they deserve to get some of the benefits of that." He says he received a number of lucrative offers for his business, but he and his family realize what the supermarkets do for the community, and they believe this will be a better deal for them and the 13,000 residents of Bemidji. "You can't always take," Lueken says. "You also have to give back."


In his retirement, he and his wife, Janice, want to travel, and they hope to leave a lasting legacy. Lueken stresses the importance of "doing the right thing" for people, empowering them to help themselves and others.


Lueken will be leaving his employees in trusted hands: Last week, he named longtime employee Brent Sicard as the company's new president and CEO. Sicard started out as an overnight janitor at Lueken's Village Foods in 1998 and has worked his way up.

[freespirit]

too bad more people didn't share his views...

[Large Sarge]

Great Story!!!!

[Serpo]

http://ingles.x10.mx/wp-content/uploads/2011/11/faint.gif

[chad]

without giving away too much personal info, i happen to know joe. this does not surprise me in the least, although i am surprised to hear about it here first! if you didn't know he was a multi millionaire, you'd think joe was a homeless guy half of the time.

[osoab]

without giving away too much personal info, i happen to know joe. this does not surprise me in the least, although i am surprised to hear about it here first! if you didn't know he was a multi millionaire, you'd think joe was a homeless guy half of the time.

I have seen this story before chad and a question was brought up that is intriguing. Did he have to pay any taxes with the transfer?

A multimillionaire isn't one for not being savoy (most of the time). Was this also him giving the middle finger to .gov too?

[Libertytree]

without giving away too much personal info, i happen to know joe. this does not surprise me in the least, although i am surprised to hear about it here first! if you didn't know he was a multi millionaire, you'd think joe was a homeless guy half of the time.

When/if you talk to him, tell him I said thanks, for being such a good and righteous man. That gesture has gone a long way in restoring my faith in folks that are in his position. God bless him!

[freespirit]

When/if you talk to him, tell him I said thanks, for being such a good and righteous man. That gesture has gone a long way in restoring my faith in folks that are in his position. God bless him!


that goes for me too!
;D

[chad]

i believe he gets to deduct around 25% of the total value of everything from taxes.

he has 2 kids who don't want to run the business, i've me them both, and they're really nice guys. the reason he's retiring is that he has parkinsons, and it's getting pretty bad. the luekens are literally the people who would give you the shirts off their backs.

i can't figure any political motivation, i think he probably just did it for the people in town. i know he's a hardcore "support your hometown" kind of guy. he's given away hundreds of thousands of dollars in bemidji throughout the years.

[chad]

When/if you talk to him, tell him I said thanks, for being such a good and righteous man. That gesture has gone a long way in restoring my faith in folks that are in his position. God bless him!

i will print this off and give it to him lt, i'll probably see him at easter.

[Ponce]

Did something like that for those working for me.....when ever I got a check for over $10,000 I would give all my employees $1,000......and every one that wanted me to hold some of their money I would doubled it, one of them got back around $12,500.......I am proud to say that three of them brought houses and two of them are now paid in full, I still keep in contact with six of them, according to them I was the "best" employer ever hahahahahahah.

[Libertytree]

We've all heard the saying "it's hard to find good help" but damn, in the same vein, it's also hard to find a good employer. At least as good as Chads friend or Ponce. Anyone like this hiring?

[freespirit]

another reason i work for myself...i'm the best boss i will ever find! i'm very understanding of my needs, never work myself too hard, and always give myself my birthday off! lol

[EE_]

Salt of the earth!

[zap]

if you didn't know he was a multi millionaire, you'd think joe was a homeless guy half of the time.

I have known a few folks who are just like Joe.

One of the guys who works for, (he's been with us since 2002) called me on Thanksgiving, I didn't hear the phone ring, but he left me a message,and told me, well zap since its Thanksgiving I am calling you to give thanks to you, and he continued to tell me he appreciates me and is happy to work for me and very glad I gave him a job, he's a good kid, it couldn't hurt that when he wanted to do a side-job and I didn't charge him for the furnace. :)

[Ponce]

By the way........I made a mistake........I gave them $100.00 not $1,000.............uffffffffffffff, I am crazy, not stupid.

[freespirit]

I have known a few folks who are just like Joe.

One of the guys who works for, (he's been with us since 2002) called me on Thanksgiving, I didn't hear the phone ring, but he left me a message,and told me, well zap since its Thanksgiving and I am calling you to give thanks to you, and he continued to tell me he appriciates me and is happy to work for me and very glad I gave him a job, he's a good kid, it couldn't hurt that when he wanted to do a side-job and I didn't charge him for the furnace. :)

...your employees call you Zap?? ;D

[Twisted Titan]

Those Employees will work sun up to sun down taking care of that supermarket and every aspect of it.

Pride of Ownership does something to a person.

I wish only The Best for the Employees and The Former Owner.

May his days be good, long and richly filled

[Dogman]

...your employees call you Zap?? ;D Ell mon she even has a line of hats named after her!

This is her main one.

http://rlv.zcache.com/zap_hat-p148877941488062413enxqj_325.jpg

And this is for casual wearing!

http://rlv.zcache.co.uk/zap_hat_blue_purple_and_green-p148867758234707483bf3ey_400.jpg

[osoab]

zap have known a few folks who are just like Joe.

One of the guys who works for, (he's been with us since 2002) called zap on Thanksgiving, zap didn't hear the phone ring, but he left zap a message,and told zap, well zap since its Thanksgiving I am calling zap to give thanks to zap, and he continued to tell zap he appreciates zap and is happy to work for zap and very glad zap gave him a job, he's a good kid, it couldn't hurt that when he wanted to do a side-job and zap didn't charge him for the furnace. :)


...your employees call you Zap?? ;D

zap just digs the 3rd person. ;D

[Dogman]

zap just digs the 3rd person. ;D Rumor has it, that she $^^^$ swings a mighty mean shovel! ;D