I'd still like to yank that ponytail.I got a good deal from Jordan's - Helps to know Eliot from working at Fenway Park
He is a really nice guy and has always taken care of his employees. When he sold out to Warren Buffett in 1999 EVERY employee got a bonus of 50 cents for every hour they had worked for the company lifetime.
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Jordan’s Furniture, a Boston retailing legend known for its owners’ campy radio and television advertisements, is being sold to a subsidiary of billionaire Warren Buffett’s company, it was announced yesterday.
Jordan’s, which sells more furniture per square foot than any company in the United States, is approaching $250 million in annual sales.
The price of the sale was not disclosed.
“Jordan’s Furniture is truly one of the most phenomenal and unique companies that I have ever seen,” Buffett, chairman and CEO of Berkshire Hathaway Inc., said in a prepared statement.
The four-store chain is co-owned by Eliot and Barry Tatelman, whose grandfather, Samuel Tatelman, incorporated it as a small furniture store in 1928 in Waltham. The brothers took over the business in the early 1970s, bringing it from eight employees to over 1,200 today.
The company has a reputation for treating its employees well. In May, for example, the Tatelmans chartered four jumbo jets and took all 1,200 employees to Bermuda for a day.
“We did it to thank them for being a great group of employees. That literally was the only reason we did it,” said Heather Copelas, company spokeswoman.
They announced yesterday they are rewarding every employee with 50 cents for every hour they have worked for the company “to celebrate the excitement of the merger,” Eliot Tatelman said in a prepared statement.
The brothers said many of the employees have been with them for 10 to 20 years. That could mean a bonus of $10,000 to $20,000 for each longtime employee.
