Employee Ownership

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Engineering firm becomes entirely employee owned

Thouvenot, Wade & Moerchen Inc. (TWM) has been an employee-owned company for more than 70 years. The engineering and surveying firm took it one step further and announced on Monday it has become 100 percent employee stock ownership plan-owned. In 2003, TWM initiated the ESOP structure, with the ESOP buying more shares with each passing

2017-07-24T03:27:22+00:00 Tags: , |

Fin Feather Fur Outfitters owner sells company to employees

Ashland-based Fin Feather Fur Outfitters, which specializes in outdoor sporting equipment, recently reached an agreement to sell the business to its employees through a stock ownership program, according to a release from the organization. Founded 31 years ago by Mike Goschinski, the company finalized an agreement on May 31 to sell 100 percent of the company

2017-07-22T13:11:38+00:00 Tags: , |

Employee-Owned Companies and Worker Cooperatives: a Comparison

So, are the models of employee-owned companies and workers’ cooperatives the same? Americans across the political spectrum have a misconception that employee-owned companies and worker cooperatives are alike, or at least function in similar fashion. Several websites that contribute to this fallacy include Democratic Socialists of America and MachimonWordPress. Websites like these continue to conflate employee-owned companies with

Sens. Peters, Risch sponsor bill to promote Employee Stock Ownership Plans

U.S. Sens. Gary Peters (D-MI) and Jim Risch (R-ID) recently introduced legislation to increase awareness of Employee Stock Ownership Plans (ESOPs) as an employee ownership model for businesses. ESOPs are workplace benefit plans that allow employees to save for retirement while sharing in a business’ profits by ensuring a majority of a business’ holdings are

Metal fabricator puts stock in employees

Before Mark Lindquist retired as CEO of Rapid-Line in 2016, he invested some shares of his company’s stock in his employees with the vision of later turning over the company to them. The new owners, now celebrating their one-year anniversary of being 100 percent employee owned, are poised for growth that they attribute to their

Vermeer Great Plains becomes employee-owned through stock ownership plan

The employees at Vermeer Great Plains, which has locations in Kansas, Oklahoma and Missouri, now fully own the dealership through an employee stock ownership plan (ESOP). The company believes an employee ownership structure offers a more productive environment because employees are working toward common goals and feel more of a direct impact from business success. It

Gorham contractor becomes employee-owned company

Knowles Industrial Services Corp., a specialty contractor based in Gorham, became an employee-owned enterprise last month. The company’s 78 employees now own stock in it, according to a statement from President Dan Maloney. “Now everyone has a vested interest in the company’s success,” Maloney said. “Construction is a people business. We all use the same

Bipartisan bill would make it easier for companies to give employees stock options

A bipartisan group of senators and members of the House introduced legislation today that would make it easier for businesses to give employees an ownership stake through stock options. Stock options are a right to purchase shares of a company at a future time at a fixed price. However, the tax implications often make this

2017-07-17T03:13:35+00:00 Tags: , |

Oliver’s Market Goes ESOP

Oliver’s Market, the largest independently-owned supermarket in Sonoma County, Calif., is selling 43 percent of the company to employees through an Employee Stock Ownership Plan (ESOP). The company also registered with the state as a Social Purpose Corporation, which allows leadership to consider employees, the environment and the community in addition to financial position when

It’s Little Wonder ESOP Employees Worry Less

Despite a growing economy, millions of American continue to experience ongoing anxiety about their current and future economic well-being. Yet a new study indicates there is one group of workers who are feeling more financially secure and optimistic about their future than average workers: employees who work in private, employee-owned businesses. In a new poll from John

Is Your Company Too Small for an ESOP?

Employee Stock Ownership Plans (ESOPs) offer a number of advantages for business owners, employees, and the company overall. However, some small businesses may consider themselves too small to justify the costs of transitioning to an ESOP company. A direct sale to key employees may be a way for some small companies to gain some ESOP-like

2017-07-09T09:58:37+00:00 Tags: , |

Modern Times officially puts stock in employees

Modern Times Beer announced today (July 7) that it has transitioned to a 30 percent employee-owned company, with long-term plans to raise that number to 100 percent. According to the announcement, "At only 4 years old, Modern Times has become the first brewery in the state of California to become employee-owned." In doing so, the fast-growing

China Harmony New Energy Auto’s After-Sales Unit Raises $41M

Hong Kong-listed China Harmony New Energy Auto Holding Ltd. has completed a spin-off of an after-sales unit, which has reached agreements to received RMB280 million (US$41 million) from a few strategic investors, according to a disclosure filing. Automobile industry-focused investment firm Leaguer Auto and Aotuo Investment have agreed to invest in Independent Aftersales Company, an indirectly

2017-07-04T03:17:35+00:00 Tags: |

Scotland’s economy: surge in employee-owned companies

The number of employee-owned businesses in Scotland has trebled over the past five years and a deal per month is forecast over the coming 12 months, research today indicates. Estimates put the number of businesses north of the Border looking to transfer ownership over the next five years at 16,000, and experts say the appetite

2017-07-02T09:30:24+00:00 Tags: , , |

Employee ownership: The business model of the future?

According to the Employee Ownership Association, there are around 300 employee-owned businesses – and the number is growing at a rate of 10% every year.The most common route into employee ownership is when private owners decide to sell the business to their workforce. In many instances, these are fiercely independent family concerns who don’t want to

Retirement of Boomer Business Owners Could Leave Millions Jobless—Unless Workers Take Over

The federal government estimates that more than 10,000 baby boomers retire every day—4 million people every year. Between them, soon-to-retire boomers own 2.34 million businesses, with nearly 25 million employees. Boomer-owned businesses generate $949 billion in payroll, and $5.14 trillion in sales. Yet the vast majority of boomer business owners lack a written transition plan for when they

2017-06-28T15:48:43+00:00 Tags: , |

How Business Owners Can Make A Big Difference In The Lives Of Their Employees

Experts disagree about whether there’s a retirement-savings “crisis” in the US as a whole. We’re not economists, so we won’t attempt to resolve the dispute. They also disagree about what should be done to boost people’s savings for retirement. We’re not policy experts, so we won’t try to untangle this one either. (We probably wouldn’t see eye

Rutgers Unveils 2017-18 Class of Employee Ownership Research Fellows

The Rutgers School of Management and Labor Relations today announced the recipients of 14 academic research fellowships to advance the study of broad-based employee stock ownership, equity compensation, gain sharing, profit sharing, and worker cooperatives. The fellows will be introduced next week in La Jolla, California during the annual Beyster Symposium, which brings together the

2017-06-29T05:07:57+00:00 Tags: , |