Employee Ownership

//Employee Ownership

Ownership of Yankee Publishing to Transfer to Employees

Yankee Publishing Inc., a family-owned business for 84 years, announced the sale of 30% of its shares to the company’s employees through an Employee Stock Ownership Plan or ESOP. The company, with 85 employees based in offices in Dublin and Manchester, New Hampshire, publishes Yankee, The Old Farmer’s Almanac, New Hampshire Magazine, Family Tree Magazine,

‘A pathway to the American dream’

Bolstered by a vision of employee ownership, OwnersEdge Inc. is in growth mode. The City of Pewaukee-based holding company is headed by Lisa Reardon, who has expanded the business to include others in the field of niche technological solutions and expertise. All are structured as employee stock ownership plan companies, or ESOP companies. Reardon worked

More stocks for all Americans may be a better wealth redistribution method

Democratic Party leaders have made Wall Street “greed” and corporate financial engineering, such as stock buybacks, a priority of efforts to reduce wealth inequality. Policy recommendations to tax stock market gains and target private equity are popular, but one idea that many high-profile Democratic hopefuls have supported in the past has not received much attention

Fighting Capitalism With Capitalism

As a human-resources professional, Jennifer Briggs got used to firing people. She’d refer to it as “layoffs,” “right-sizing,” or whatever euphemism her employer wanted her to use at the time. She was a foster child turned single mother who had relied on food banks to feed her kids, and, as unpleasant as it was, managing

Who’s the boss? In worker-owned cooperatives, everyone is.

The chain of command at PV Squared, a solar panel installation company in Massachusetts’s Pioneer Valley, is admittedly convoluted.  “Technically, I’m Kim’s boss,” says general manager Jonathan Gregory of bookkeeper Kim Pinkham. But “Kim’s on the board, and the board oversees my position, so technically she’s my boss.” As members of a worker-owned cooperative, the

Summers Trucking employees meet new owners: themselves

Summers Trucking employees gathered for breakfast Saturday morning at the Ephrata American Legion. After ham and eggs and all the fixings, the 91 employees learned that the Summers family owners, Becky, John and Ken, had transferred their shares in the business to an employee stock ownership plan (ESOP). With that move, the Summers management triad

The workers have become the owners at this Bangor construction company

As Scott Dunbar and Alan Brawn eyed retirement in recent years, they had to make some serious decisions about the Bangor construction company they started 16 years ago. They could sell Dunbar and Brawn Construction to a competitor. They could simply close the doors of their headquarters on Hildreth Street and sell off the property.

Young employees want stock plan benefits

Workplace flexibility and financial security like student debt repayment programs are some of the benefits Generation Z and millennials value the most — but employers who want to impress millennial workers should also consider equity compensation. Younger employees view stock plan benefits differently than older generations. More than half of employees under age 35 (57%)

Business ServicesESOPs Offer Advantages to Sellers, Buyers, Employees

Are Employee Stock Ownership Plans the key to sustainable business in the Mahoning Valley?  As privately held business owners approach their 60s and 70s, a looming question before them is how to transition into retirement, while ensuring that their life’s work in businesses they built from the ground up continue to grow. Many local businesses

Staff stock options plan can help bridge the wealth gap

Remember when they said that a rising tide lifts all boats? Well, that wasn’t entirely true. Africa had some of the fastest growing economies in the world posting an average of 5.4 percent of gross domestic product (GDP) growth between 2000 and 2010, adding about Sh7.5 trillion annually to GDP. McKinsey Global Institute even described

Saalex Becomes Employee-Owned Company

Saalex Corp. has announced that the company is now owned by its employees through an employee stock ownership plan. Employees of the Camarillo engineering and information technology services company will receive stock allocations annually that will vest over a period of time and increase in value as the company grows. Chief Executive Travis Mack said

How employee ownership can prevent loss of beloved businesses and local jobs

As baby boomers age, the nearly 25 million jobs they have created nationwide are at risk. In Santa Clara County alone, roughly 15,000 boomer-owned businesses account for nearly 50% of private businesses that have employees, according to research by Project Equity. Only 15% will successfully pass to the second generation, and there will not be

How employee stock ownership becomes a succession plan

As succession strategies go, the employee stock ownership plan might be the ultimate twofer. For Joe Reeves and Ron Butt, co-founders of Louisville, Kent.-based ARGI, the pursuit of a viable succession plan for their $2.6 billion financial planning firm was the original objective, but the ESOP provided the added bonus of giving all employees a potential stake in the RIA's

How to create a construction company legacy

Every construction company and its owners eventually face succession issues. Owners who choose to ignore succession planning until an unexpected event forces the issue may face fewer choices, little time to react and a decrease in company value. However, proper planning can create peace of mind and increase the chances of a smooth transition that

Studying Ways to Reshape the Workplace and Boost Middle Class Wealth

Hiring a diverse workforce enables companies to tap a larger pool of knowledge and perspectives, creating opportunities for significant growth. It can also lead to the occasional conflict, as employees from vastly different backgrounds must learn to coexist. Joo Hun Han, an assistant professor of human resource management at the School of Management and Labor

Make Your ESOP Work for YOU

Congratulations. You’ve completed your paperwork, met the Department of Labor criteria and successfully established your employee stock ownership plan (it took a while, didn’t it?). You’re now half the way there. In order to perform better and reap the clear benefits an ESOP can generate, you must couple employee ownership with employee engagement. It starts with

Bernie Sanders Wants Companies to Give Employees Ownership

Bernie Sanders, one of the leading Democratic candidates for the presidency in 2020, recently revived his push to give American workers more ownership of the businesses they work for. The Vermont senator told the Washington Postlate last month that businesses should be required to put some of their stocks into employee-controlled funds, so workers get dividends. Two other

We bought the company! Vermont takes leading role in employee-owned businesses

Jason Patnaude calls it the worst day of his life. Patnaude, 54, attended vocational school in Essex after graduating high school, leaving early to install Megabucks machines. Two and a half years later, he was let go when the machines became obsolete. "My daughter was three months old, we built a house, and bought a

Blue-collar capitalists

IDA TARBELL, the huge muckraker of the early twentieth century, not simplest wielded her pen against Standard Oil. She also feeble it to advocate for better versions of capitalism. In “Recent Ideals in Enterprise”, a e book from 1916, she explained how William Cooper Procter, a pioneering Episcopalian, launched profit sharing in 1887 and come

ESOPs rising: Employee ownership gaining traction

When people think of employee-owned businesses, large companies such as grocery chain WinCo — with scores of locations across the western U.S. — spring to mind, said Poncho Baker, the new CEO of Ritchie Trucking in Fresno. But for owners who want to see their business and life’s work continue, and for workers looking for