How many hide their Ferrari from employees?

I agree... owning a F-car is tough. I cant even go to the store no more. lol

 

I feel this is correct. There is nothing wrong with spending your hard earned
$$. Spend it anyway you choose. It is just the morale of your employee will be lowered (usually) by viewing what amounts to an expensive toy. The employee may not have had enough money to purchase inexpensive X-mas gifts. This is just my opinion. Others may feel their employee or employees can go fly a kite. Of course some of the employees may have helped you obtain the very expensive toy. Perhaps one should "consider" how they would feel ? Again there is nothing wrong with spending anyway you see fit, your hard earned money.

 

I say let the chips fall.

 

Better to enjoy it with nobody that you do business with knowing what you have. Passion and Money are two different things.

 

Situational behavior might work here.

I own a biz, have 30 employees, they know what kind of cars I own, and some are enthusiastic, some are not about what I drive, but, they know. The issue is, I guess, one of, "If he can afford that, he's not paying me enough" or whatever.

I did have an office employee, now gone, accuse me of "stealing the 401(k) money" to buy a Porsche once. That was a little ugly, but we resolved it.

Although I've never been approached directly by an employee with that "pay me more you can obviously afford it" approach, and I have been driving Porsches, BMW's, and now the F-cars, for 20+ years to work.

A very select few of my customers know what I drive. These are guys who I know are car nuts, the rest do not. I don't see any reason to potentially aggravate my customers with what I drive. Some might think, "If he can afford that, he must be charging too much." Best to avoid that, I think.

So, I say, drive it to work next sunny day, see what happens. Some will love it, some will shrug, one or two will resent it, but at least you'll be out of the closet and able to enjoy your car in one more location.

 

When my mother turned up in her new BMW (wasn't even brand new.. just new to her), her employees were a bit jealous, but then they know that my Mother works very hard for all of them and deserves everything she gets. I know this is a different situation to a Ferrari, but it goes to show that a car costing 1/5th of a Ferrari can still incite jealousy...

 

If an employee has the possibility of getting one by saving $ while under their current salary/bonus structure with greater possibilities, then -
Yes. It encourages.

If they'll never have that chance under those same conditions as long as they work for you, then -
No. It discourages.

 

I neither show it off nor hide it from my employees. I don't tell friends and acquintances that I own a Ferrari. If they know it's fine but they're not going to know from me. It's a car for my own self indulgance.

 

I assume you are a doctor from mentioning "patients'.

I would, personally, never drive a high end car to work, for all the above mentioned reasons. I can see absolutely no up side to doing so.

All it takes is one marginally unhappy patient fuming about an outstanding bill to notice a Ferrari and make a mental note to see a lawyer.

I know in bigger cities it is the norm for docs to drive expensive cars, but in a small town, I think descretion is very important.

 

I own an electronics manufacturing company with about 55 employees and had a slow year so did not give raises, made it a little tough when I buy a new Maserati and my brother who owns company with me gets a new Porsche. Most employees assume they are company cars, Which they are not. While on the other hand my managers are happy I buy myself new cars as they know part of me is ready to call it quits but they know my love of new cars makes me keep the company open. On the bright side business has picked up big time the last 6 months so maybe a new Ferrari is in my future.

 

I actually had an employee yell out at a staff meeting. " We all know you have a ferrari, so we all know you have the money". This was in response to last years pay cuts as the dot bomb finally got around to us. IT seems to be a non issue now, but i would never drive it to work and put it in their faces.

I think "WAX" said it best, if they will never be able to afford one while they work for you then it's no incentive to them to work harder. In fact it's probably an icentive to go get a job where they could make enough to buy one.


Well said WAX

Stan

 

Personally I think you should separate business vehicles from exotic recreational vehicles. It can create quite a bit of uneasiness in the work place no matter how well you treat your employees. I find even though I go the extra mile to help all of my employees, whatever their needs, it is usually quickly forgotten. It always amazes me the average workers attitude of "right of entitlement". I went from sleeping in my car to a wonderful lifestyle because of hard work and I never felt that anyone or any entity owed me anything. It is my impression that the average workers attitude is what can you give me with as little work imput as possible. However, there are always the exceptions and I am grateful for them. I say drive the american made car to work and keep your toys your toys. If you are a physician, driving that italian sports car to the office just might not be the best idea, unless you have a way to hide it. Personally, I would want to go to a successful physician because that tells me they know how to treat patients and run the business aspect of medicine, which is not easy these days. But, a lot of patients might not see it that way. LOL and enjoy your ride.

 

My father is the same way, he has a Rolex, but refuses to wear it to work. For the longest time, he only drove a Toyota to work. Now he drives an Audi, but is still hesitant about it. With the BMW, he absolutely refuses to drive it to work. He tries to stay as low key as possible in front of his patients and staff. Luxury goods breed too much jealousy at his work place.

 

I am sure those of us here that own our business have always heard those comments about how easy it must be for us not to have bosses and do whatever we want and things like that. And we know how false those statements are. There are many days I would trade in the headaches, Upset stomachs and worries that come along with it just to go to work and have someone else make all the decisions and just tell me what to do. My workers take their 3 to 6 weeks off every year not caring how it impacts the company. While I have gone 7 years without a single day off to make sure they all have a job. My recreational cars are what I consider to be my vacations and that is why I proudly drive my cars to work everyday.

 

What would be a bigger issue for me about owning a more flashy car like a Ferrari would be about kids, Do any of you think it could make your kids a potential target for kidnapping?

 

While I don't have a F-car, I drive a semi-exotic NSX.. Whenever I have had lunch with clients, I hold off taking the NSX since I don't want that "he must be doing well attitude".. I usually take the Expedition and blend in fine...

I think it would be even more so with a real exotic like a Ferrari.. I buy these cars for my personal enjoyment and not to show off.. I guess I get a little uneasy about people knowing what I have...

 

One of my friends is a dentist. He has a BMW and you wouldn't believe the attitude he gets from patients (ie "do I need this root canal or am I just paying for your car?). I told him he should take my 355 to work next time!

 

Doesn't that make it harder to seduce them?

 

My Dad drives his XLR or his Cl500 every day to work and has never had a problem. He is a commercial builder and over the last handful of years has been growing a lot doing more and more big jobs (hospitals, casinos, ect) He never drives the 355 to work, but a few people in the office knows he has one from coming over to dinner. My Dad has always said that you have to give back to your employees so he is always taking the office out to lunch and giving them christmas bonus. That is maybe why most people have been with him for 10-20 years. I think that is part of the reason the car issue has never come up. We also have a vacation home and everyone in the office knows about it because my dad has a bbq during the summer for all his employees down there. Never a problem knock on wood.
Erik

 

I have owned a Ferrari since 1986 and have always kept a low profile. But eventually the news gets out.
People are funny.

 

Tough call there Doc.

I drive mine every now and then to work - I'm an aviation instructor and have my own little business, and the TR is a big hit at the airport!

But hey, lots of these guys have 5 million bucks in one jet alone, so its not going to excite any envy among the big boys there, and it does stand out!

I admit, it does tend to put one on the A list.

And it does draw the students...

I guess the difference here is that piloting is a discretionary hobby - one doesn't NEED to pilot. One does need medical attention when one needs it, and perhaps thats the crux of the matter.

And perhaps the public perception that doctors seldom go without whatever.

Lots of hungry flight instructors!

OT, I've always heard that you can make a small fortune in aviation - you just have to spend a large fortune first!

 

Funny. When I was in law school, in our professional responsibility class we discussed prohibitions against soliciting clients in certain situations. The prof said even at a party, depending on the circumstances,you may be restricted
from disclosing you are an attorney. One guy pipes up, "Damn, how are we supposed to pick up girls!" LOL

 

good thread & good question

i agree with Paulie B.
in the past i've kept a low profile, and eventually it gets out anyways.
have had nothing but problems when people know, they act different and it's not just my imagination

depends on what kind of work you're in

if you're a doc or producer or something like that then probably not a big deal

if you're an avg joe with an avg job nothing but trouble

just not worth it

sad i know

 

great idea ben!!!!