A Good CEO For A Change

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In a world filled with headlines about CEO's and executives running their companies to the ground, and holding lavish parties and getaways on taxpayer funded bailouts, here is a refreshingly touching story of one very different individual. 

Leonard Abess Jr., CEO of City National Bank in Florida, sold 83% of his stake in the bank to a Spanish company, and then used the proceeds to reward his very own employees.

At a time when bankers are being pilloried on Capitol Hill as heartless and greedy, Leonard Abess Jr. stands apart.

After selling his bank for a fortune last fall, he quietly handed out $60 million in bonuses from his own pocket — and not just to top executives. In all, 471 employees and retirees, including tellers, clerks and secretaries, were rewarded, receiving an average of about $127,000 each.

"I think everybody was surprised. But knowing Leonard, the type of person he is, I can believe him giving it away," said retiree William Perry, who spent 43 years at City National Bank of Florida, rising from janitor to vice president. Perry, 78, got $50,000, which he is using to help his son pay for law school.

For his generosity and humility, Abess was singled out for praise by President Barack Obama in his congressional address Tuesday. Abess attended as Obama's guest.

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From the Upcoming ueue, submitted by \'\' Geekazoid.


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For a change? People hear about a handful of dirtbag CEO's, and automatically every other corporate officer is cut from the same cloth. Can we please use a little critical thinking now and then? Puhleeze?
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@Dog Droppings: In my mind you have gnarled, claw-like hands, one milky, cataracty eye and a big mole on your chin with hair growing out of it. Pastimes include jingling change in front of blind beggars and barbequing the favorite stuffed animals of small children.
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Hey rblunt...it's not Obama selling our country to the Chinese....where do you think Bush got the trillions of dollars to fund the war that got us in this hole to begin with?
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I don't really care if a bank from Spain bought out this bank. It's not like they're going to take it back across the Atlantic with them. There'll still be American jobs out of the dealand that's a good thing. Anyway, I admire this man's convictions by rewarding his loyal workers. What I found amusing was a 75 year old saving her bonus for "retirement" and a 78 year old with a son in law school. I hope when I reach my 70's I'm thinking of a long future ahead.
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