New CEA Employee Benefit Helps Environment, Encourages Home Ownership and Reduces Commuting Time

Business Wire, Feb 27, 2008

Unprecedented Offering Gives Monetary Assistance to Employees Moving Closer to Office

ARLINGTON, Va. -- The Consumer Electronics Association (CEA[R]) today announced an innovative new employee benefit designed to encourage home ownership, reduce commuting time and help the environment. The association will provide a $25,000 forgivable three- year loan to assist with the down payment of a home closer to its Arlington headquarters. While some local governments entice employees to live in their jurisdiction, CEA is to its knowledge the first non-governmental entity to make this type and level of benefit available.

"Our national dependence on oil requires us to change how we do things," said CEA President and CEO Gary Shapiro. "It makes sense to encourage people to live near where they work. If others adopt this approach, we will all benefit from reduced traffic, less fuel demand, less stress and more committed employees. Although this is an experiment, it can show that environmental stewardship is consistent with good business. We will be tracking how this affects the retention of employees who use this program and expect to see the benefit of reduced turnover."

The benefit supplements other pro-environment CEA policies including a $115 per month metro subsidy and a telework policy. More, by their nature consumer electronics products foster telework, save commuting time and encourage low energy communication.

"For years we have surveyed our employees asking questions about everything from work-life balance issues to health care benefits and those responses help us develop new benefits," said Senior Vice President Human Resources Annemarie Ramirez. "We offer our 155 employees a complete wellness program, including daily boot camp and access to a fully-equipped gym with locker rooms on the premises, blue jean Fridays and a great working environment. But like many businesses in the DC metro region, our employees' commute has remained our top challenge. We are happy to now present our employees with an innovative solution to this concern."

CEA has been cited as an exemplary employer by Washingtonian magazine, which named it a "Great Place to Work" in its annual survey of DC-area employers. The competitive award was based on an extensive review of CEA's policies and benefits.

About CEA:

The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $161 billion U.S. consumer electronics industry. More than 2,200 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion and the fostering of business and strategic relationships. CEA also sponsors and manages the International CES - Where Entertainment, Technology and Business Converge. All profits from CES are reinvested into CEA's industry services. Find CEA online at www.CE.org.

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