profit sharing?

Discussion in 'Averitt' started by uplander, Jul 12, 2017.

  1. uplander

    uplander Light Load Member

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    what does it mean when they say profit sharing?
     
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  2. buddyd157

    buddyd157 Road Train Member

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    you get a small percentage of...the profits.
     
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  3. Jazz1

    Jazz1 Road Train Member

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    If company earns profit you as employee get a share. I have been getting profit sharing cheques annually for 20 years. My company pays about 3% of your gross annual income. Its incentive few companies offer.
     
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  4. aussiejosh

    aussiejosh Road Train Member

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    wow i'm all for sharing the companies profits! It'd be kinda like getting a share of the dividends a bit like what Publicly listed companies do.
     
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  5. ExOTR

    ExOTR Windshield Chipper Extraordinaire

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    I've worked for a few companies that offered profit sharing, and they had the option to directly funnel it into 401k.
    It's nice to see that nest egg jump a bit higher every year.
     
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  6. uplander

    uplander Light Load Member

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    is it monthly? quarterly? is it extra pay? any averritt drivers have the amount details?
     
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  7. tscottme

    tscottme Road Train Member

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    On my account Profit Sharing has been between $2-3k per year. I don't recall how often it's paid. It might be weekly. Some other companies match some portion of your 401k contributions. Averitt pays Profit Sharing.
     
  8. chopper103in

    chopper103in Road Train Member

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    its paid quarterly into the 401k
     
  9. x1Heavy

    x1Heavy Road Train Member

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    AVERITT EXPRESS, INC.: quotes & news - Google Finance

    Averitt says they are a privately held corperation. In other words they are no longer beholden to investors of the public domain. They can issue a dividend of 0.01 cents a share if they so choose at the annual shareholder's meeting. Or they can issue you a 1.10 per share you hold privately of Averitt stock.

    Your best hope is to accumulate stock in Averitt until they finally go public with a nice IPO that will be a big, big payday for you royally.

    Let's say x1heavy express lines is a brand new company, just bought the first 10 trucks and trailers, hired the drivers to run em, dispatchers to punish them, office people to flog the rapidly depleting line of credit while the brokers hoist me by the neck on unpaid loads delivered wiating for my company to fold so they can take it all over lock stock and barrel.

    I want inverstors. Maybe I can get a couple of fat cats to pony up 10 million dollars to me and my grateful company in exchange for a majority share ownerstatus. (Over my dead body...) If I took the company public that means I offer to wall street and anyone with a trading license to john Q public a share price of 50.00 per in a Initial public offering. Within 24 hours I expect the IPO pricing to double and a storm of buyers to flood my company and make us filthy rich.

    There is a movie you should rent the DVD or watch on you tube in the original full screen version.

    "The Hudsucker Proxy" shows a journey of a nobody mailroom clerk to the land of stock holding and executive services by proxy as the board and VP plots to destroy the company and take off with all the bundles of rapidly spent greenbacks.
     
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  10. chopper103in

    chopper103in Road Train Member

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    Averitt is owned by man that bought it with 3 trucks and made it what it is today.
    a company with no debt and stable I don't think that it will ever be sold off to be publicly traded
     
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