Businessman John Dyer says tough times demand creative solutions. So to help invigorate New Hampshire's stalled economy, Dyer took out a $22,000 home equity loan to give his 22 workers $1,000 bonuses.
"We ended the recession yesterday," said Dyer, president of Dyer Technology Inc., a computer company in southern New Hampshire.The 48-year-old Nashua resident asked his employees to spend at least $100 of their bonuses on charity.
"I told them to spend the money," he said Tuesday. "Help the local merchants."
He said he took out the equity loan rather than jeopardize the firm's credit by draining profits to bankroll the bonuses.
Dyer said he acted "to pump up the economy, pump up my employees' morale and tell them . . . they're valuable."
"My purpose was to invest in my employees," he said. "Morale is very high around my place this week."