John Properties employees receive $10M in bonuses

Company surprises its 198 employees with $10 million bonus

Company gives all 198 employees portion of $10 million bonus, including Denver employees

The bonuses will be paid based on the number of years each employee has been with the company.

Video footage of the surprise announcement showed employees' jaws drop as they each opened red envelopes containing the bonuses.

"I believe strongly in giving back to the community by supporting initiatives that make Ludington a wonderful place to live, work and raise a family", FloraCraft owner Lee Schoenherr said.

"All of us have hit a major milestone", said President Larry Maykrantz.

What prompted this hefty bonus was the company's goal back in 2005 to double the size of its portfolio from 10 million square feet to 20 million square feet, according to Maykrantz.

St. John Properties react to the news they will receive a shared $10 million bonus.

Founder of St. John Properties, Edward St. John, 81, gathered his staff on Saturday at the Christmas party to announce the huge payout, which ended with many of them breaking down in tears, overwhelmed at the generosity. And the chairman continued: "I may steer the boat, but they're the ones that run the boat".

"I couldn't think of a better way to show it", he commented, adding "Without the team, we are nothing. It's definitely life changing". "Way to go St. John Properties #Lovethis".

The firm's president said the company made a decision to thank all the employees for helping it achieve its goal.

Since 1998, the private Edward St. John Foundation has doled out more than US$60 million in grants to formal education programs.

Some employees said they were planning to use the money to pay off mortgages, take dream vacations and send their kids to college.

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