Employee Ownership

//Employee Ownership

More employee ownership is needed

The purpose of a standard corporation is to make money, not to consider humanity, ecology or even fairness. Corporations that dare place any value above profit may even be subject to legal recourse. Many people have pointed out that in their rabid observance of this priority, standard corporations and their managers often meet the criteria

Paytm Capitalized At $10 Billion As Staff Trade Sakes Worth $50 Million

Paytm is now capitalized at $10 Billion making it the 2nd most expensive internet company in India post Flipkart. The latest valuation of the company comes after 200 workers of the Noida-located company traded shares from the ESOP (employee stock ownership plan). This scooped up $50 Million. In 2017, Paytm had collected $1.4 Billion in

Standard Golf Company completes sale to Employee Stock Ownership Plan

Standard Golf Company has announced the successful transfer of a 100 percent ownership of the company to its employees via an Employee Stock Ownership Plan effective Jan. 3, 2018. When Standard Golf Company President, Peter Voorhees, started thinking about succession plans for the business, he had many options, and selling the company to an unknown party

Big and Creative Ideas to Hold on to Your Farm Workforce

“How Ya Gonna’ Keep ’em Down on the Farm?” That World War I-era song about losing rural talent to the city could have been written today. Finding and keeping good workers is a challenge facing just about every vegetable grower. Salinas, CA-based Tanimura & Antle has several suggestions that have proven successful for them, all of which

IMI North American Acquisition Completes

A deal worth £148m ($198m) for Birmingham-based engineering company IMI to acquire an American counterpart has completed. In December it was announced that Bimba Manufacturing, which was founded in 1957 and is headquartered in Chicago, will become part of IMI Precision Engineering's US Industrial Automotion business. Completion was conditional on merger clearance and the approval by

Salad dressing maker Litehouse unveils Sandpoint expansion amid continued national growth

In 1977, Doug and Edward Hawkins Jr. bought an old auto body shop in Sandpoint to expand production of their family’s signature bleu cheese dressing. On Wednesday, the brothers were back at the site to celebrate Litehouse Inc.’s latest expansion. From humble beginnings, the company has grown into a business with annual sales of more

Shutterfly to buy Eden Prairie-based Lifetouch in $825M deal

California-based Shutterfly, the big online retailer and manufacturer of  personalized photography and related products and services, plans to pay $825 million in cash to buy Eden Prairie-based Lifetouch, an employee-owned company and a leader in school photography. "We're focused on growing both these businesses," Shutterfly CEO Chris North said during a visit to Eden Prairie

A word with Rick Lierz of Franklin Building Supply

Rick Lierz grew up around the lumber business. His father worked for Boise Cascade before starting Franklin Building Supply almost 42 years ago. Lierz practiced law for 12 years in Boise before moving to Franklin in 1997. In those days, Franklin had six locations in Boise, Caldwell, McCall, Bellevue and Elko, Nev., as well a

Paytm valuation reaches USD 10 billion; 200 former and current staff become millionaires

Paytm and founder, entrepreneur Vijay Shekhar Sharma's meteoric rise is what perhaps, dreams are made of. Continuing that commendable rise, the company has recently reached a valuation of USD 10 billion. This recent valuation has come after a secondary sale where some current and former employees were given an opportunity to sale their ESOPs. Two

2018-01-29T13:13:27+00:00 Tags: , , , |

Starbucks gives workers raises, stock grants due to tax law

Starbucks is giving its U.S. workers pay raises and stock grants this year, citing recent changes to the tax law. All employees will soon be able to earn paid sick time off, and the company’s parental leave benefits will include all non-birth parents. Starbucks Corp. said Wednesday that the changes affect about 150,000 full-time, part-time,

243 of Clif Bar’s employees in Twin Falls now have stock in the company

When Isaac Norstad got his statement in May, he was surprised — to say the least. He’s had part ownership in Clif Bar since a year after he started with the company. But now, he was fully vested and able to get a glimpse of what that ownership was worth. The value on his ownership

Henny Penny recognized for employee training

Henny Penny has been selected by Secretary of State Jon Husted as one of January’s featured businesses for the Ohio Business Profile Program. Beth Hammond, a representative from the Secretary of State’s office, visited the company on Monday, Jan. 22, to present Alex Morgan, Vice-President of Brand, and Jeff Frymier, Director of Corporate Relations, with

Worker cooperatives offer real alternatives to Trump’s retrograde economic vision

Announcing his presidency in 2016, Donald Trump promised the nation that he’d become “the greatest job president God ever created.” His plan to accomplish this rested on a retrograde economic vision that would “make America great again,” by restoring waning coal and manufacturing jobs, as well as putting an end to the alleged assault on

Kenya Airways: A new beginning !

Kenya Airways has listed additional shares on the Nairobi Securities Exchange to enable a share split and simultaneous consolidation of the company’s stock, closing the intricate financial and capital restructuring process – the first of its kind in this market – and securing the airline’s future. The restructuring saw the Kenyan Government increase its share

Staab Construction becomes employee owned

Staab Construction Corporation has announced it recently completed a transition to become 100 percent employee owned through its Employee Stock Ownership Program (ESOP). “We have been transitioning to 100 percent employee owned for the past few years,” said Ben Lee, Chief Operating Officer. “We started the ESOP in 1989, with the goal of eventually being

Wawa Settles Employee Stock Ownership Lawsuit

Wawa Inc. has agreed to pay $25 million to settle a class-action lawsuit filed in February 2016 in the U.S. District Court for the Eastern District of Pennsylvania that claimed the convenience-store retailer violated the Employee Retirement Income Security Act (ERISA) by allegedly barring workers who left the company from maintaining company stock and liquidating their stock at

Employee Ownership Gains Ground in Western North Carolina

In western North Carolina, “a growing number of companies in the area, which includes the city of Asheville and smaller Appalachian towns, are considering…a shift to worker ownership,” writes Adele Peters for Fast Company. As NPQ profiled last fall, with a tsunami of small business owners seeking to cash out as Baby Boomers retire, selling businesses to the employees who work there

Can The Wave Of Boomer Entrepreneur Retirements Create A Surge Of Worker-Owned Businesses?

If you work at a textile or furniture factory in Western North Carolina, you probably don’t belong to a union; the region usually ranks as the least unionized part of the United States. But a growing number of companies in the area, which includes the city of Asheville and smaller Appalachian towns, are considering a different

Sharing the wealth: The push for workers to buy the companies that employ them

Carolyn Berke knows the challenges of owning a food business in the Bay Area. As the owner of Union City-based Niles Pie Company for several years — and having owned and worked in bakeries on the East Coast — she’s experienced some of the industry’s long-standing challenges: a struggle to find and keep employees in