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Morning News

Interwoven Offers 20 BMW Roadsters as Incentives for New Hires

Aired February 23, 2000 - 9:58 a.m. ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

DARYN KAGAN, CNN ANCHOR: Looking for a job? Thanks to a booming economy, good help is becoming increasingly difficult to find.

BILL HEMMER, CNN ANCHOR: Now in an effort to attract and keep new employees, some companies pulling out all the stops, and some are expensive, too.

CNN's Greg Lefevre has a look at one company's rather incredible incentives.

(BEGIN VIDEOTAPE)

GREG LEFEVRE, CNN CORRESPONDENT (voice-over): At software company Interwoven, Jack Jia needs 20 software engineers pronto, so he's offering 20 BMW Roadsters as incentives.

JACK JIA, V.P., INTERWOVEN: 1999 we grew over 300 percent, so we want to continue to grow at a fast pace.

UNIDENTIFIED MALE: Qualified engineers that start at Interwoven between now and April 17th get to drive a BMW Z3 for two years!

ROG BRADSHAW, INTERWOVEN ENGINEER: Everyone's hiring, and it's just hard to find -- you know, draw attention to ourselves and get folks to come in.

UNIDENTIFIED MALE: It really would be nice, but I don't think that's what brought me here.

LEFEVRE: Recruits like the car, but what happens when the lease is up?

JOSE BUSTAMENTE, SOFTWARE ENGINEER: It's like, oh, wow. It's a good, you know, hook to come here but ultimately it also depends on the work.

LEFEVRE: And the stock options. Other ideas considered by Interwoven: paying off student loans, buying a condo, laser vision surgery.

Other companies know how tough it is.

FRED VAN DEN BOSCH, VERITAS: The prices of housing and so on are really going through the roof and so you have the choice either pay a huge amount of money for housing or having a commute that is very unpleasant.

LEFEVRE (on camera): Interwoven makes software that helps companies operate their Web sites. Interwoven's own site details the jobs, the requirements and lets you pick the color of your Beemer to be.

(voice-over): The company says it's already made a few offers with at least a dozen Z3s yet to be claimed.

Greg Lefevre, CNN, San Francisco.

(END VIDEOTAPE)

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