The Clifton Review
The Clifton Review is a tri-weekly column that examines the question of the Clifton project along with the evolution of the war between two billionaires. We covered the start of this war with articles describing the battle over easement rights, the mysterious burning of a home, the blocks to rebuilding, and countless questionable court filings.
The 2018 series salutes fashion mogul Peter Nygard’s Golden Jubilee detailing his rags to riches story and incredible business success over these past fifty years. The Clifton Review will take an inside look at how he did it.
Nygard Gives $10,000 To Employees, Again!
By P.J. Malone
Can you imagine getting a 10,000-dollar-gift from your employer twice in your career?
In 2003, during fashion mogul Peter Nygard’s 35th Anniversary in business, he gave his long term employees $10,000 each. There were over 100 employees who received that ten-thousand-dollar gift. Peter Nygard’s message to his staff was ‘Thanks a Million!’ Peter Nygard’s gift cost him over a million dollars.
On Friday, during an address by Peter Nygard celebrating his 50 years in business, he did it again. Here’s what the press release revealed:
Nygård detailed his own rags-to-riches story, and the long and rich history of the company and its rise to dominance in the fashion industry. Nygård weaved a central message through all his tales of the company history – the company’s success has always been because of the dedication, ingenuity and loyalty of his employees.
“The people here are what matters,” said Nygård. “You are the fabric of the company. You are family.”
Leading in to the announcement of the bonuses, Nygård recalled a story from his childhood.
“When I was a kid, my family was poor, and I remember being hungry a lot of the time. My best friend was a boy whose parents owned a restaurant. I remember being with him at his parents’ place, watching him make two pieces of toast. He buttered the first piece of toast, and ate it. Then he buttered the second piece, and ate that too. I thought for sure that second piece was my toast! That kid ate my piece of toast,” said Nygård.
“So now,” he said, turning to his long-time employees, “all you people who have been here 25 years or more, I am going to share with you my second piece of toast. You’re all getting a $10,000 piece of toast.” NYGÅRD employees cheered in reaction to the news, and gave Nygård a standing ovation as he completed his address.
There were about seventy lucky beneficiaries who were rewarded with $10,000 dollars for their long-term service to NYGÅRD International.
Peter Nygard isn’t just paying lip service to the idea of his staff being ‘the people who matters,’ ‘the fabric of the company’ and ‘family’. He puts his money where his mouth is. How many other employers put their money where their mouth is?
Many companies give bonuses to those who make them money, but they don’t tend to indiscriminately give to employees on major company anniversaries.
One thing that has always been very clear and incontrovertible about Peter Nygard is his generous nature.
Bahamians alone have experienced many instances of his generosity to various groups in The Bahamas and individual Bahamians. We have been very luck to have had such a benevolent individual calling The Bahamas home and sharing of his wealth by the millions in our communities.
Peter Nygard’s employees are also lucky to be working for such a generous individual.
And what an amazing way to say ‘thank you’. Kudos to you Peter Nygard for expressing your appreciation to a typically forgotten group of individuals in society, who, no doubt, contribute greatly to their businesses’ success!
Congratulations on your 50th Anniversary and hats off to you for continuously sharing your toast!
