Sunday, February 15, 2009

A different way of banking

The Miami Herald reports how Leonard Abess gave some proceeds from the sale of his bank back to the staff who'd worked for him. He sold a majority stake in City National Bancshares last November, and gave $60 million in bonuses to everyone - 399 people - on the payroll. And he tracked down 72 former employees so they could share in the windfall.

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