Employee Ownership

//Employee Ownership

Wood waste processing leader Bandit goes 100 percent employee-owned

Bandit Industries announced on June 7 they would sell 100 percent of the company to their employees in an employee stock ownership plan (ESOP).  Under the ESOP, Bandit, a maker of woodchippers and other wood waste processors, will retain its current leadership. The announcement comes after two previous attempts to sell Bandit Industries – once to

Does Creating Owners Mean Sharing Equity?

We think a good definition of employee engagement—real engagement—is employees who think and act like owners. Like businesspeople. Top companies foster this kind of involvement, sharing responsibility and rewards with people at every level of the organization. But there’s a sticking point here for a lot of otherwise sympathetic entrepreneurs: they don’t want to share

Bandit Industries to go 100 percent employee owned

Bandit Industries – Isabella County’s eighth-largest employer – announced on Friday it would become 100 percent employee-owned.  Announcement of the change, after several years of trying to find a buyer, comes two months after the Morey family that owns the firm began a $1.4 million expansion. Owners Mike Morey Sr., Dianne Morey and Jerry Morey said

Eagle Communications honored for excellence in employee-ownership communications

Eagle Communications Inc. has been selected by The ESOP Association as the 2018 Intranet Annual Award for Communications Excellence. The AACE Awards are sponsored each year by the Association to recognize the outstanding communications and educational programs of its members. The awards are presented each May at the Association’s Annual Conference in Washingtonto companies who

Fenix Flames rises from the ashes of traditional employee ownership schemes

As the pay gap between CEO and median employee earnings continues to increase, African solar energy company Fenix International is burning the outdated rulebook on traditional employee stock options. It announced the first cash payout to its employees across Africa, with mid-level and low-level workers set to benefit. How successful will the scheme prove to

Moving forward by giving back

After owning and running DACO Precision Tool for more than 30 years, co-founders Randy Weber and Lloyd Kanzenback decided the best way to move forward was to give the company to the employees. As of July 2017, the company has been 100 percent employee-owned, giving the 50 employees benefits that are no longer commonly received. The

Company Stock Ownership: The Risks Outweigh the Rewards

The story never seems to go away: Workers and retirees with large concentrations of their own employers' stock in retirement portfolios get hammered when share prices plunge. The most recent example is the share price collapse of  General Electric(GE), which has sparked media coverage of the damage to employees holding the stock. You might wonder--will we ever learn

Tanimura & Antle adds more than $21 million to employee stock plan

Celebrating its first anniversary as an employee-owned company, Salinas, Calif.-based Tanimura & Antle has contributed $21.7 million to its Employee Stock Ownership Plan. Tanimura & Antle created the plan in February 2017, under Rick Antle’s leadership, to “recognize the company’s greatest asset, its employees,” according to a news release. “Tanimura & Antle was built on

Employee stock ownership plans benefit retiring owners and employees

Employee stock ownership plans (ESOPs) are a way for company owners who wish to retire and do not have family members involved in the business to ensure the continued life of the company. They also provide a good return on years of investing time, effort and money in building the company and reward employees who

Gardener’s Supply named ESOP Company of the Year

Gardener's Supply Company of Burlington has been named the 2018 ESOP Company of the Year by The ESOP Association. The announcement was made at the association's annual conference. Founded in 1983 by Will Raap, the company launched its ESOP only a few years later, in 1987. By 2009, Gardener's was 100 percent employee owned. The company's 225

Eastman Auto and Power Limited initiates employee stock ownership plan

Eastman Auto and Power Limited, one of the leading companies in energy storage and solar solutions has initiated an Employee Stock Ownership Plan (ESOP) for its employees. An ESOP is a trust fund that owns the company, in which all full-time employees generally earn shares as part of their compensation. The objective of the initiative is to achieve organizational excellence through the valuable

ARGI Financial co-founder sells his shares in the company’s ESOP

Ron Butt, senior partner and co-founder of ARGI Financial Group, has sold his shares in the company. Butt agreed to allow other partners and the company's employee stock ownership plan, or ESOP, to buy him out of the company's ownership group, according to a news release. With this transaction, the ESOP now owns 28 percent of

Great Lakes Brewing Co. to offer Employee Stock Ownership Plan

What began as an annual employee summit turned into an emotional gathering culminating with bottles of beers being cracked open. The latter was encouraged by the owners, and with good reason. Great Lakes Brewing Co. owners Pat and Dan Conway and CEO Bill Boor saved the biggest news for the end of the off-site meeting Monday,

Video: What is an ESOP and how does it benefit employees?

Employee Stock Ownership Plan, or ESOPs, are in focus following the Walmart-Flipkart deal with Flipkart employees being allowed to encash ESOPs fully over the next 2 years. An employee stock ownership plan (ESOP) is a type of employee benefit plan that encourages employees to acquire stocks or ownership in the company. ESOPs also help in

Employee Ownership is a Win-Win for Workers and Companies

Cathy Burch and her twin sister Deborah began working 27 years ago, at the age of 19. Cathy took a job at WinCo, a supermarket chain. Her sister went to work at a telephone company. Cathy stayed at WinCo; Deborah moved around. By 2014, an article in Forbes reports, Deborah had about $30,000 in retirement savings, fairly

L’Oreal Launches an Employee Share Ownership Plan

L'Oréal is announcing the launch of its first Employee Share Ownership Plan. The plan will be rolled out in 52 countries and will give L'Oréal employees, in France and internationally, the possibility to be even more closely linked to the Group's development. Following the implementation of a "Worldwide Profit Sharing" policy which gives employees a

Here’s why some Flipkart employees are not happy with share buyback

Flipkart, which has been the flagbearer of employee benefits over the years by launching one of the largest Esop programmes in the startup ecosystem, has now possibly disappointed a section of its employees, called Flipsters. Even though the company’s employees were informed during a townhall on Wednesday that they have the option of cashing out 100% of

Today’s youth reject capitalism, but what do they want to replace it

Today’s youth are increasingly unhappy with the way their elders are running the world. Their ire was most recently expressed when thousands of teenagers and others across the country marched on March 24 demanding more gun control, a little over a month after more than a dozen of their peers were shot and killed at a high school in Parkland, Florida.

Gillibrand bill would encourage more employee-owned businesses

Sen. Kirsten Gillibrand (D-NY) is pushing for legislation that would provide more access to funding for employee-owned businesses. Gillibrand said there is an urgency to create more opportunities for retiring baby boomer business owners. In 2007, Peter Rhodes wanted to sell his company, Syracuse Label and Surround Printing. His family was not interested in it

KI hands ownership over to employees

Green Bay-based furniture maker KI is now owned by its employees. KI announced that it completed transition to 100 percent employee stock ownership on April 27. The company was owned by members of the Resch family. CEO Dick Resch said this transition is a dream become reality. “This change marks the culmination of my lifelong