DATE RELEASED: 10/17/18

INDIANAPOLIS, Oct. 16, 2018 /PRNewswire/ -- BSA, a national integrated design firm, has been named a Certified ESOP by Certified EO, a certification program for employee-owned companies.

Founded in 1975, BSA has always been owned by employee shareholders, but it opened ownership to all employees earlier this year when it launched its first-ever Employee Stock Ownership Plan (ESOP).

"Becoming an ESOP was a logical step for BSA since...

DATE RELEASED: 10/16/18

Todd Moreland says he wanted to be an electrician since he was 16 years old at Ooltewah High School, following in the footsteps of both his father and grandfather.

Starting 40 years ago as a teenager at Adman Electric, Moreland started making coffee, getting doughnuts, working in a warehouse and driving a truck before getting his electricians license through the IBEW union and later becoming an estimator and project manager.Moreland also knew early he wanted to run the company and...

DATE RELEASED: 10/09/18

Burlington, Vermont, Oct. 09, 2018 (GLOBE NEWSWIRE) -- Gardener's Supply, one of the nation's largest multi-channel marketers of gardening products and accessories, has announced a new organizational structure and management team. Gardener's Supply was founded by Will Raap in 1983 in Burlington, VT, and is 100% employee-owned. The management change will support the company's growth and plans to expand retail capacity to reach existing and new...

DATE RELEASED: 10/09/18

CINCINNATI--(BUSINESS WIRE)--Oct 9, 2018--The Board of Directors of The Procter & Gamble Company (NYSE:PG) declared a quarterly dividend of $0.7172 per share on the Common Stock and on the Series A and Series B ESOP Convertible Class A Preferred Stock of the Company, payable on or after November 15, 2018 to Common Stock shareholders of record at the close of business on October 19, 2018, and to Series A and Series B ESOP Convertible Class A Preferred Stock shareholders of record at the...

DATE RELEASED: 10/08/18

A letter to the president from members of Congress asks for protection against the DOL's practice of "regulation through litigation."

Just as the ERISA Industry Committee (ERIC) did regarding the issue of missing participants in retirement plans, a group of legislators is calling out the Department of Labor (DOL) for engaging in enforcement activities against employee stock ownership plans (ESOPs) without providing meaningful guidance.

Twenty-seven members of Congress sent a...

DATE RELEASED: 10/03/18

Astro Machine Works has been a staple in the Lancaster County economy since 1984 and continues to be an industry leader in custom machining and fabrication. Located in Ephrata the company has expanded to over 100 employees during their 34 years in business and almost quadrupled their sales from 2006 to 2017 to just under $26 million.

Their journey from privately held to employee owned company started as President Eric Blow shares with a "...

DATE RELEASED: 10/01/18

Letter Cites Aggressive Practices, Asks for Clear Guidance

President Donald Trump this week received a letter from 27 influential members of the House of Representatives, urging him to rein in overzealous and unfair enforcement of regulations that apply to ESOP companies.

The letter offers powerful support for ESOP companies, at a time when that...

DATE RELEASED: 09/25/18

A significant split among circuit courts on this issue remains unresolved.

When Pioneer Centres Holding Co. v. Alerus Financial on September 20 was settled instead of going before the Supreme Court, many people in the retirement legal profession and retirement industry were disappointed. With the case settled confidentially, the expected clarity the decision would offer has been lost. What remains is a significant split among circuit courts regarding the burden of proof in Employee...

DATE RELEASED: 09/20/18

When the owners of Mountainland Supply in Orem, Utah, were ready to get liquidity for their ownership, they could have sold to an outsider.

But Brandon Johnson, Mountainland's CFO, says, "We were afraid of what it would do to the culture of our company. We figured about 1/3 of our employees would be dismissed."

Instead, the owners turned to an employee stock ownership plan or ESOP. The ESOP paid the owners a fair price and...

DATE RELEASED: 09/20/18

Walmart-backed Flipkart will offer its employees an opportunity to cash in on part of their stockholding in the company at $126-128 per share, according to an e-mail to staff.

The e-mail, which follows the $16-billion deal by Walmart to buy a majority holding in the Indian e-commerce major, said eligible staff members will be allowed to liquidate part of their employee stock ownership plans (ESOPs) at $126-128 per unit.

This would translate into a total sum of about $800 million...

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