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Tuesday, December 15, 2015

Hilcorp Employees Receive $100,000 Bonus

From Forbes:
It’s the continuation of a tradition at Hilcorp, owned by billionaire Jeffery Hildebrand. Five years ago, when Hilcorp achieved its goal of doubling its oil and gas production, Hildebrand gave every employee the choice of $35,000 cash or $50,000 towards a new car. This year, despite the downturn, Hilcorp doubled its output again, to more than 150,000 barrels per day. So Hildebrand doubled the bonus — to $100,000. 
With about 1,400 employees, Hildebrand’s largesse will total more than $100 million (amounts are said to be prorated depending on how much of the past five years a worker was with the company). 
Yes Hildebrand, 56, has been generous with his workers, but they have helped him make an incredible amount of money — $5.9 billion by FORBES’ latest count. (But we probably ought to knock that down to $5.8 billion after these bonuses.) His fortune has about trebled since the last big bonus in 2010. 
It’s a wonderful way to inspire hard work and loyalty, especially among the lower ranks, where $100,000 is well in excess of what many workers make in a year. “It’s just a true gift, and I think myself, along with everyone, is not going to give less than 100 percent each day,” receptionist Amanda Thompson told Fox 4 News in Houston.
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