A $455,000 settlement has been reached in a case involving a Tennessee-based trucking company's Employee Stock Ownership Plan (ESOP) following an investigation centered around the carrier's former owner, who also served as its chief financial officer, as well as the company's former ESOP trustee.
Read MoreCompany Implements Employee Stock Ownership Plan (ESOP)
Read MoreEach October, the spirit of employee ownership is highlighted during Employee Ownership Month, an ideal time to boost awareness for employee stock ownership plans (ESOPs) and their benefit to companies, employees and communities at large.
Read MoreIRVINE, Calif., Sept. 30, 2019 /PRNewswire/ -- International Education Corporation (IEC) and its subsidiary companies are proud to announce they are in the process of becoming employee-owned by creating an Employee Stock Ownership Plan (ESOP).
Read MoreMatt Crafton's entire life has been shaped by the company his father co-founded 56 years ago. Now, he's put forth a plan that will help shape the lives of the people who work for it.
Read MoreHell's Kitchen, the cheekily named restaurant in downtown Minneapolis that's known for its house-made peanut butter, lemon ricotta pancakes and crazy huge bloody Mary bar, is turning over ownership of its operations to employees.
Read MoreTubing manufacturer NewAge Industries is now 100% owned by its employees through an ESOP (Employee Stock Ownership Plan). The ESOP is a retirement benefit that gives employee-owners a true stake in their futures. Ken Baker, CEO, sold portions of the business to the ESOP in three stages over the past thirteen years. September 2019 saw the completion of a decades-long plan to help ensure the continued success of the company and avoid a competitive buyout.Southampton, PA, September 08, 2019 --(PR.com)-- At a company-wide meeting held September 5, it became official: NewAge Industries is now entirely owned by its employees through its ESOP (Employee Stock Ownership Plan). The event was the culmination of a plan first considered by CEO Ken Baker more than two decades ago.
Read MoreFormer employees held a majority of shares in the agency
Read MoreHONEOYE FALLS, N.Y., Sept. 5, 2019 /PRNewswire/ -- KJT Group is proud to announce they are now a 100% employee-owned company. This announcement of the sale to the Employee Stock Ownership Plan & Trust (ESOP) was made to KJT Group employees at a special meeting held at the company's headquarters in Honeoye Falls, NY.
Read MoreRogers-based architecture and engineering firm Crafton Tull announced Tuesday the company has established an Employee Stock Ownership Plan, or ESOP.
Read MoreOn August 28, Bloomberg BNA reported "Labor Boosts Political Staff's Power in Benefits Arm Shuffle." The changes announced affect the Employee Benefits Security Administration (EBSA), the unit of the Department of Labor responsible for regulation and enforcement of the Employee Retirement Income Security Act (ERISA), which governs ESOPs and other benefit plans. Under the newly announced organizational structure, units of EBSA that had reported to the deputy assistant secretary for program operations, career official Timothy Hauser, will instead report to the deputy assistant secretary, Jeanne Klinefelter Wilson, a political appointee.
Read MoreMichigan based Azon USA Inc. has made strategic changes to its board of directors. Effective immediately Tami Lee is appointed to the Azon board of directors. Lee has been with Azon for over 35 years, serving most recently as director of human resources. Lee promotes a healthy, productive workforce culture, oversees the development of employee benefits and was instrumental in the formation of the Azon ESOP (employee stock ownership plan), according to the company.
Read MoreIn New Hampshire, more than 5,000 employees have a stake in their companies through ESOPs
Read MoreAs we hover over historically low unemployment, more employees are scouring job sites, searching for the answer to their discontentment. A study by Work Institute found that one in four workers left their jobs in 2018. Companies are being hit with $600 billion in turnover costs as employees play musical chairs. Exit interviews found that 77 percent of employees could have been saved.
Read MoreATLANTA--(BUSINESS WIRE)--The Kendeda Fund today announced it will make more than $24 million in new grants to significantly expand democratic employee ownership across the United States. The investment, which will be completed by 2023, is among the largest in Kendeda's history and is expected to dramatically expand alternative models for wealth building in America and empower thousands of workers who have traditionally lacked economic stability and opportunities to build wealth.
Read MoreA federal district court judge found that since shares for the ESOP were purchased with borrowed funds, the subsequent lower valuation of the stock was an immediate equitable benefit to participants.
Read MoreThe court found as a fiduciary to the ESOP, Evolve Bank failed to notice, question or investigate several red flags that appeared in the appraisal of the stock that was used to set the share price for a 2010 purchase.
Read MorePortland, Oregon-based Breakside Brewery closed a deal last week to launch an employee stock ownership plan (ESOP), according to the Portland Business Journal.
Read MoreOwnersEdge has grown into holding company for five businesses, over 300 employee owners
Read MoreNAMPA – Employees at utility contractor Das-co now have a shot at becoming owners.
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