What if employee-owned businesses were the key to a healthier, more humane economy?

As a human-resources professional, Jennifer Briggs got used to firing people.

She'd refer to it as "layoffs," "right-sizing," or whatever euphemism her employer wanted her to use at the time. She was a foster child turned single mother who had relied on food banks to feed her kids, and, as unpleasant as it was, managing and cutting employees at a large public company became her livelihood. So she...


A congressional bill introduced in the House of Representatives proposes tax incentives for Employee Stock Ownership Plans (ESOPs). The bill is supported by the ESOP Association as legislative support to encourage more businesses to provide a way for employees to share in and help grow the company.

Bi-partisan sponsors, Representatives Ron Kind (D-WI-3) and Jason Smith (R-MO-8) introduced HR 2258, the Promotion...


As Scott Dunbar and Alan Brawn eyed retirement in recent years, they had to make some serious decisions about the Bangor construction company they started 16 years ago.

They could sell Dunbar and Brawn Construction to a competitor. They could simply close the doors of their headquarters on Hildreth Street and sell off the property.

Or, as a growing number of Maine companies have done, they could sell their operation to the carpenters, crane operators, mechanics and other workers...


Summit, NJ: The principals of Pilot Hill Advisors, through their broker/dealer Corporate Finance Associates, are pleased to announce it has successfully assisted its client complete a 100% ESOP sale of stock to its newly-formed ESOP.

The company was founded in the early '60s and with this sale, completed its third ownership transition. Given the growth and size of the business it became too costly for an internal buyout, which is how the prior transitions occurred.  By using the ESOP,...


Connecticut Governor Lamont signed an omnibus bill on July 9 that included a provision permitting architectural firms to have up to 100% of their shares owned directly by an ESOP. This replaces a long-standing requirement that at least two-thirds of the ownership of an architectural firm be held by licensed architects.

See pages 23 to 26 of Connecticut's Public Act No. 19-177


Iowa Fabricator Sold to ESOP-Owned Buyer - Preparing for Sale

The pull back home can be very strong, as anyone who has returned to work in a family business can attest. Lisa Wertzbaugher can vouch for that fact.  After several years living in Chicago and working in the medical device industry, she made a pretty dramatic life change in 2013. She went back to work for her parents, Larry and Gloria Dlouhy, and the family business, Superior Tube Products in Davenport, Iowa.

The metal...


Benchmarking compensation data can be a critical tool to help companies make sound decisions. There are very few compensation data sources available that provide a sizable number of ESOP companies for comparison. The NCEO's Executive Compensation Survey is one of the only data sources specifically tailored to companies with ESOPs.  The NCEO gathered executive and director compensation data from ESOP companies from October 2018 through April 2019. Our online survey received 419 valid...


Summit, NJ:  Pilot Hill Advisors LLC is pleased to announce the completion of a 100% ESOP buyout of a New England construction contracting company. The transaction was designed to provide the company's shareholder with a means of transitioning ownership to the company's employees while maintaining management continuity and perpetuating the company's independence. The principals of Pilot Hill Advisors LLC assisted the company in evaluating the feasibility, structuring the ESOP buyout and...


LUBBOCK, Texas, June 24, 2019 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank, today reported its results as of and for the quarter ended March 31, 2019.  [SPFI is 17.2% owned by its Employee Stock Ownership Plan.]

First Quarter 2019 Financial Highlights

  • Net income for the first quarter of 2019 increased to $4.8 million, compared to $4.6 million(1) in the first quarter of 2018. 
  • ...

Dealmaking has never been a priority for Rhonda Newman. But after Remington Products Co. received an unsolicited and very attractive offer from a New York-based private equity firm, Newman felt she had to respond.

"ESOPs, by their very nature, can be somewhat risk-averse," says Newman, president and CEO of the Wadsworth-based designer and manufacturer of branded and private label orthotics. "When you're dealing with employee retirement funds, it's...


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