I worked for a machine tool company here in St. Louis called Sunnen Products.  I imagine it was a lot like Teletype's glory days.  It was privately held and was run by the founder's family until he passed in the early 90's...  Engineers were automatically included in "Management Club" which gave us better parking spaces, additional incentive bonuses, and monthly dinner meetings with plant tours to see other industries in the area.  Even in that time (I left in '96), I think it was a throwback to the 50's and 60's - healthcare funded entirely by the employer, yearly Christmas parties  and company picnics (huge affairs where all the retirees were invited as well, and we got those days off).  They even owned a 500 acre lake in southern Missouri and adjacent property with a dock and cabins that were free for the employees' use.  I'm sure all of that has disappeared to improve "return on investment."  When I started there, you could also count on a yearly 15% profit sharing bonus to a retirement plan, and a 10% bonus for M Club bonus, but those pretty much had faded out by the time I left.  

A few years back, I heard a series on NPR about Kodak, and it had a similar story until its decline in the 80's.  

I've also read that in the late 50's early 60's, engineers were payed as well as doctors or lawyers...  SMH

// end off-topic rant