A study released by Alex Brill, former advisor to the Simpson-Bowles bipartisan deficit reduction commission and a fellow at the American Enterprise Institute, finds that private employee stock ownership plans (ESOPs) organized as S corporations increased employment over the last decade more quickly than the overall private sector. Among surveyed "S-ESOP" companies, the Brill study reported, jobs grew by 60 percent over the past decade, while jobs in the private economy as a whole remained relatively flat.
Read MoreSummit, NJ: Robert Massengill was recently elected to the Board of Directors of Queensgate Foods, a 100% ESOP-owned food distribution business located in Cincinnati, OH. The company was acquired in a management buyout in 2002 and became a 100% ESOP in 2008. Bob is one of two outside directors and works closely with the other directors, leadership team and ESOP advisors. Queensgate President Pat O'Callaghan commented, "Our company is very pleased Bob has accepted this nomination. We look forward to benefitting from his extensive ESOP advisory experience, as well as his experiences as a company president growing a service business."
Read MoreNew York has relaxed its professional company ownership laws an now allows non-licensed professionals to own up to a 25% stake in companies such as architecture and engineering firms.
Read MorePro ESOP bill H.R. 1244, the "Promotion and Expansion of Private Employee Ownership Act of 2011," was introduced today by a bi-partisan group of key members of the House Ways and Means Committee: Congressmen David G. Reichert (R-WA), Ron Kind (D-WI), Charles W. Boustany, Jr. (R-LA), Earl Blumenauer (D-OR), Erik Paulsen (R-MN), and Bill Pascrell (D-NJ).
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