DATE RELEASED: 02/08/19

Liberalism is ascendant, at least in the Democratic Party. New Gallup polling just out shows that for the first time, more than half of Democrats identify as "liberal" as opposed to "moderate" or "conservative." The left's newly minted hero Alexandria Ocasio-Cortez is becoming the right's new favorite foil. Her Green New Deal and amplification of Bernie Sanders' cry for Medicare for All are gaining a great deal of attention for their boldness as much as for their potential to bust the...

DATE RELEASED: 02/07/19

The ESOP Association (TEA) announced that James J. Bonham will assume the role of President and Chief Executive Officer (CEO) on March 1. Founded in 1978, TEA is America's largest national trade association focused on advancing employee ownership through the Employee Stock Ownership Plan (ESOP) model.

Bonham will also serve as President of the Employee Ownership Foundation, an affiliated non-profit with a mission to encourage, educate, and catalyze new research in support of employee...

DATE RELEASED: 02/06/19

Under a specific set of facts, a C-corporation sale to an ESOP may be able to utilize the tax provision benefits of combining Section 1202 of the Internal Revenue Code of 1986, as amended (the "Code") and Code Section 1042. If those facts are present, a seller of stock in a leveraged ESOP transaction may be able to receive some proceeds tax-free while deferring the remaining tax on the sale.

The best way to demonstrate how a leveraged ESOP transaction works is by example. Assume a...

DATE RELEASED: 01/31/19

Intervine, headquartered in California's Napa Valley, became 100 percent employee owned through an Employee Stock Ownership Plan (ESOP). ESOP's were established by the United States Government nearly 50 years ago as part of the Employee Retirement Income Security Act (ERISA).

According to the National Center for Employee Ownership, there are approximately 6,500 ESOPS currently operating in the U.S. covering more than 14 million employees....

DATE RELEASED: 01/30/19

HILTON HEAD ISLAND, S.C. – The Greenery was named the 2018 Employee Owned Company of the Year by the Carolinas Chapter of the national Employee Stock Ownership Plan Association for meeting the award's criteria.

The employee-owned landscaping business has been in business for 46 years.

Among other assessments, The Greenery won for effectively communicating the benefits of employee ownership as it relates to the success of the company. An employee stock ownership plan is an...

DATE RELEASED: 01/22/19

When Bob Whalen became president and CEO of HB McClure back in 2008, the employees were nervous. He was taking over from the grandson of Herbert Bassett McClure, who had founded the Harrisburg, Pennsylvania, heating, ventilation and air-conditioning firm in 1914. The company, which serves both commercial and residential customers, had been profitable for a century. But Whalen says it wasn't running as well as it could. "At the...

DATE RELEASED: 01/21/19

WASHINGTON, Jan. 21, 2019 /PRNewswire/ -- The ESOP Association, the only organization that advocates on behalf of all ESOP companies, applauds Senators Pat Roberts (R-Kan.) and Ben Cardin (D-Md.) for introducing S. 177, titled The Promotion and Expansion of Private Employee Ownership Act. The bill is identical to S. 1589, which was introduced in the last session of Congress and which gained the support of 40 percent...

DATE RELEASED: 01/11/19

In 2005, Mandy Cabot was set to sell Dansko, known for its closed-back wooden clogs, to Timberland for $150 million. She and her Danish husband, Peter Kjellerup, had built the company from scratch starting in 1990, importing clogs from Denmark and marketing them to customers in the U.S. who appreciated the shoes' comfort, durable construction and distinctive style.

But as the company flourished, she and Kjellerup started worrying about their lack...

DATE RELEASED: 01/03/19

The South Tempe campus of the electrical contracting industry's largest employee-owned firm, Rosendin, rang in the new year by celebrating a milestone: 100 years in business.

With revenues upwards of $2 billion, Rosendin has grown dramatically over the last century with 6,000 employees across 15 regional offices nationwide, each of which offers an increasing number of services.

"For 100 years, Rosendin has created a reputation for building...