Jul 2, 2009 7:05 pm US/Pacific
Livermore Businessman Pays It Forward
LIVERMORE (CBS 5) ―
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Dave Theobald has been paying it forward by giving his employees $2 bills to spend in the local community.
CBS
With all the gloomy economic news, an East Bay man has decided to do something hopeful. He has launched his own stimulus plan program to pay it forward.
Dave Theobald is sharing his good fortune two dollars at a time. Business at his Livermore company, Turman Commercial Painters, has soared 68 percent over last year. So he has started his own stimulus plan to help the local economy.
"We had our largest year-to-date ever. It means a lot to do something back for community," Theobald said.
Since May, he has given each of his 200 employees two envelopes. Each envelope contains fifty $2 bills to spend in their local communities. He calls the program the People's Stimulus plan.
"It's fun, it's been very rewarding," Theobald said.
So far, Theobald has given his employees $20,000 in stimulus money and plans to give them $10,000 more next month. His employees, from California, Oregon and Washington, have spent the $2 bills on everything from groceries to movies.
"It's a good way to start helping the economy around and feel like you're doing something," said finance officer Becky Benavidez.
"It gives you faith in the way America works," said Steve Clark Turman, the company's Vice President of Finance. "It also makes you fortunate you are able to participate."
In one case, 16 employees ate lunch at nearby Casa Orozco and paid most of their tab in forty $2 bills.
Server Matt Hentschel who took the stack of bills has put his tip back into the economy. "I went out and bought a pack of gum with mine," Hentschel said.
Along with the $2 bills, Turman employees attach a note, inviting businesses to launch their own stimulus plan.
Theobald's idea for a stimulus plan came from a pharmacist who started it in Alabama. Now Theobald said he's inspired a Mississippi painter to follow suit.
"If we can get enough small businesses out there to contribute, maybe we can actually make a difference," Theobald said.
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