I've often wondered about that, I find this to be a bit of a phenomenon in the UK where most companies either shut down over Christmas/NY or they "force" leave over the period if they're quiet. If you're permanent and have a specified number of days leave (and have run out) how do they deal with that? I prefer to take my holidays at other times of the year, but am a contractor so have never had to find out really.
Agree - I've indicated as much to my team, they've worked more than enough hours over and above their "need to be there" throughout the year so it's a small gesture that is much appreciated.
My guess is that it's his company anyway.....