it solvent and in business?

My husband works for a company that manufactures tools/products that are used with compressors. The owner of the company is quite wealthy, he has worked hard for 25 years to build his company to include international sales.

The economy is sucking the life out of his business but he is creative and has employees that are constantly developing innovative products. These products are sold to bigger businesses that need compressed air such as manufacturers of chocolate, computers, autos, etc. No matter what he has done the money just isn't what it was at this time last year and of course there have been whispers of time cuts, layoffs and cutbacks. The worried gossip finally made its way to the owner who called a meeting to include every employee in the company.

He had a plan and this is what he said:

Owner to take a 50% salary decrease, employees to get no raises until company becomes more productive but all raises will be given as things improve and they will be retroactive. There will be no layoffs or salary cuts and bonuses will be suspended from top to bottom.

This man has treated his employees with fairness and compassion and when gasoline was $4 a gallon he started giving a gas allowance check for every employee in the entire company of 20 gallons of gas per week to be computed by the cost of a gallon of gas that week. He didn't cut this benefit from the workers, just management and above.

He is elderly now but not out of his leadership position and lead he did. He let the entire company know that things may get worse and things may get tight but he would continue to make cuts starting AT THE TOP, until the economy improved. This man has a plan and he started it by looking after those who call him boss, not himself or his top earners.

I just thought people should know that there are some truly good people in this country who know right from wrong and look to take care of those they feel responsible for... first.