In May 1999, after unsuccessful attmepts to sell Allard Moving & Storage, the Allard family committed arson, burning the building and the stored possessions of hundreds of families to the ground. Shortly after the fire, they sold the company. The ATF knows they started the fire but cannot prove it. (Search www.seacoastonline.com in 1999 & 2000 for relevant articles).
A family attorney advised them to quickly move the insurance proceeds into less liquid assets and out of the names of the principal owners of the moving company. Bob Allard's son, Bob Jr. Elected to start his own human resources software company, retention Engine. His father and uncle were the primary funding behind the debt free company.
In an article in the Boston Business Journal (March 10) Bob Jr. Brags that the company has all of its employees (except he and his brother, who used to work for the moving company) based in Croatia. They are crass enough to state that while salaries for software engineers in the US is $75k - $100k, these guys are paid significantly less. Bob Allard Jr. Cleared between $00k and $1 mil last year.
To review:
- This family burnt down the belongings of trusting customers and denied them full insurance payment.
- They hid the proceeds of their illegal activities in a new family firm, Retention Engine.
- They deny jobs to local software engineers and underpay workers in Croatia so that they can continue to line their own pockets.
Would you trust these guys to do your compensation management?
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