Ken Grenda
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Australian bus boss gives staff $16m sale share

1 February 2012 Last updated at 11:01 GMT

Australian Ken Grenda may have sold his bus company, but his staff of almost 2,000 are smiling.

Mr Grenda gave cash bonuses totalling A$15m ($16m, £10m) from proceeds of the sale to employees of his 66-year-old Melbourne-based company.

The bonuses, averaging A$8,500, were based on the length of service. Some workers received A$30,000 to A$100,000 each, Australian media reported.

The company was sold to Ventura, another transport company, for A$400m.

Duncan Kennedy reports.