A Payden & Rygel charity event gives new meaning to the expression "shop ‘til you drop."
On Dec. 1, about 30 employees of the Los Angeles-based fixed-income shop participated in a charitable shopping spree, loading up on "nearly six figures" worth of food, clothing and other essentials at a local Costco that were then delivered to the St. Joseph's Center, an organization that serves homeless and low-income people in Venice, Calif., said Joan Payden, president and chief executive officer. To transport all of the goods, the company rented an 18-wheel truck, which was driven by head trader David Ballentine.
The annual event, which began more than 20 years ago with just a few employees and a few bags of groceries, has grown significantly.
"When I started the firm, there were only about four or five of us," Ms. Payden said. "Then a couple years later, someone had a small pickup truck, and then the truck got a little bigger, and a little bigger."
"When you're a service organization like we are and work in a community, a number of us feel strongly we should give something back to the community and engender that in younger employees," Ms. Payden said.