DATE RELEASED: 02/28/20

A common concern about ESOPs is their potentially higher level of risk for participants than a diversified 401(k) plan. As the argument runs, investments in a single company's stock carry more uncertainty than the same amount of investment in a diverse portfolio, and this risk is compounded when the company is also the investor's employer. Critics of ESOPs point to spectacular failures like Enron, where thousands of employees lost their retirement savings, ignoring that participants...

DATE RELEASED: 02/27/20

The workers used an employee benefit plan that gives them ownership interest in the company for whom they work

As of Jan. 1, Loftness Specialized Equipment became 100 percent employee-owned.

Using an American financial tool called an Employee Stock Ownership Plan (ESOP), the 85 employees bought all Loftness shares.

Located in Hector, Minnesota, Loftness manufactures a big list of farm equipment. The ESOP they used is an employee benefit plan that gives...

DATE RELEASED: 02/27/20

DPI was recognized last night with one of only three Excellence Awards. Presented with the "Excellence in Employee Relations" by Plastics News for our ESOP status and overall employee engagement.

Plastics News was on site to interview DPI and its employees. They were able to witness first-hand the dedication and team environment that DPI prides itself on.

DPI was originally nominated for Plastic New's Processor of the Year Award, which was ultimately awarded to Intertech Plastics...

DATE RELEASED: 02/17/20

An Employee Stock Ownership Plan, or ESOP, gives employees a stake in the company through stock allocation.

Long Beach, CA, Feb. 17, 2020 (GLOBE NEWSWIRE) -- SCS Engineers, a leading national environmental consulting and construction firm, recently achieved a significant milestone when it completed a transaction to become 100% employee-owned through its employee stock ownership plan (ESOP).

SCS Engineers established its ESOP in 1986,...

DATE RELEASED: 02/14/20

If Bob Moore is any example, doing what you love for a living and sharing your wealth with employees will keep you vibrant and happy well into your 90s.

Moore, who turns 91 this month but sounds like an exuberant man half his age, founded the whole grain flours and cereals company Bob's Red Mill in 1978 with his now deceased wife, Charlee.

He still works full-time as the company's president, having handed over the CEO title two years ago...

DATE RELEASED: 02/10/20

PLYMOUTH, MA — Tricia Mackey and Mark Strangie are locked in lighthearted conversation at Tech-Etch Inc. in Plymouth. When they finally part, the flexible circuit technician says, half-jokingly, to the vice president of sales and marketing, "OK. Get back to work!"

While said in jest, there is a ring of reality to her retort: Mackey is one of the owners of Tech-Etch, a high-technology manufacturing company that supplies precision-engineered parts to the medical device, aerospace and...

DATE RELEASED: 02/03/20

AURORA, Colo. — Cassie Larimer is the assistant director of Happy Ladybug Early Learning, a child care center and preschool tucked into a one-story brick building in this city east of Denver. But her new business cards, emblazoned with a cheery ladybug logo, just say "owner."

Larimer isn't technically an owner — yet. The new business cards reflect the ambitions of the center's cofounders, Elvan Goksu and Umit Kaya, who hope to turn Happy Ladybug into a worker-owned cooperative —...

DATE RELEASED: 02/03/20

Memphis, TN – Memphis-based third-party logistics provider, Cornerstone Systems, Inc. announced that it is now a 100 percent employee owned company as Founder/Chairman Rick Rodell sold his last 51 percent.

In 2013, Cornerstone officially became an ESOP when Rodell sold 49 percent of his shares to the newly created ESOP.

"When you're 49% ESOP, you're in deep," President/CEO Tim Clay said. "When we first started this, we thought we'd...

DATE RELEASED: 01/30/20

ESOP company boards and ESOP trustees both have fiduciary obligations under ERISA to act in the best interests of employees as shareholders. It is very important that the board and trustee understand their own and each other's duties as well as how they need to work together on the following issues:

Trustees need to assess whether the board is acting to protect and enhance shareholder value. That may include making sure the board has the right people and they take...

DATE RELEASED: 01/29/20

Thanks largely to Jimmie Gipson, many of Bowling Green-based Houchens Industries' employees have been able to enjoy comfortable retirements. Now Gipson is ready to join them.

"Everybody has to retire sometime," Gipson said Tuesday afternoon, just hours after the announcement that he was retiring at the end of March after 55 years with Houchens, the last 27 as CEO. "I've never been excited about retiring because I'm excited about what I do. I plan to be here every day until it's time to...

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