A New Jersey CEO dipped into his own paycheck in a bid to stimulate the economy.
Jack Windolf gave $1,000 to all 434 workers at Bollinger Insurance Solutions and told them “let's jumpstart this economy.”
Windolf says the idea came to him a year ago when he received $500,000 in deferred compensation after he orchestrated the sale of 51 percent of the Short Hills-based company. Windolf included a provision that said he could direct the money to other employees.
The CEO calls it the “Bollinger Mini Stimulus package.”
Employees were surprised when they found the envelopes in their mailboxes on St. Patrick's Day.
Human resources vice president Maria Force says she'll use the money to help her two kids in college.
Copyright AP - Associated Press