WASHINGTON, May 7, 2018 /PRNewswire-USNewswire/ -- The ESOP Association applauds Senator Kirsten Gillibrand (D-NY) for introducing S. 2786, the Main Street Employee Ownership Act of 2018.
Read MoreKI, a global office furniture manufacturer based in Green Bay, has been sold to its more than 2,000 employees worldwide, turning it into one of the largest companies in the U.S. operating under an employee stock ownership plan.
Read MoreIn September 2015, Doug Schukar, president and CEO of USA Mortgage, paid a visit to one of the company's largest branches, located in Jefferson County. Schukar regularly checks in with branch managers and loan officers, treating them as if they're family. But, this particular trip was different.
Read MoreNorth Syracuse, NY – U.S. Senator Kirsten Gillibrand visited Syracuse Label & Surround Printing, which supports worker-owned co-ops, to announce her bipartisan legislation the Main Street Employee Ownership Act, which would support small businesses that invest in and reward their workers and communities by transitioning to an Employee Stock Ownership Plan (ESOP) or a cooperative (co-op).
Read MoreA California law firm and a Hawaii architectural firm are in the crosshairs of a lawsuit by the Labor Department over the alleged mishandling of a $40 million employee stock ownership plan transaction.
Read MoreSummit, NJ: Pilot Hill Advisors is pleased to annouce their client, founder and sole owner of a precision machining company, recently completed the sale of a large, minority interest block of stock to the company's newly formed Employee Stock Ownership Plan.
Read MoreOne of the management team members let out a gasp. Two others shook their heads in disbelief and angst. The senior leader on their team had just informed them that the company they had been strategically targeting over the last several months was employee-owned, or at least partially employee-owned, through an Employee Stock Ownership Plan (ESOP).
Read MoreAssociate-owner shareholders in the Jasper Engines & Transmissions Employee Stock Ownership Plan (ESOP) were treated to another record-setting share value announcement on April 26.
Read MoreCINCINNATI, April 24, 2018 /PRNewswire/ -- The Motz Corporation, global provider of innovative turf solutions, is now employee owned after launching an employee stock ownership plan (ESOP).
Read MoreSonnax Industries Inc, a maker of automatic transmission parts in Bellows Falls, was sold in early April to Marmon Holdings, Inc, a subsidiary of Warren Buffett's company, Berkshire Hathaway. Sonnax was an employee-owned company, whose ESOP was sued by the US Department of Labor, as first reported by VBM in January 2017. According to a press release and email, the new company will operate as Sonnax Transmission Company. Terms of the sale were not disclosed. The company will remain in Vermont.
Read MoreAn employee stock ownership plan (ESOP) is a benefit program in which employees acquire ownership of the company they work for by receiving shares of stock in it, typically with the help of bank loans that fund the ESOP. When employees retire or leave for other reasons, the company buys back their shares at current value. Significant tax breaks make ESOPs attractive to owners looking for an exit strategy that will compensate them and enhance their employees' financial security at the same time.
Read MoreBrent Nussbaum, CEO of Nussbaum Transportation, the trucking company his father started in 1945, says the best way to keep the firm family-owned for the next generation and to retain good people is by having his employees become part owners.
Read MoreThree pioneers of the solar industry in the Bay Area are in different stages of transferring the businesses they created, but they are all traveling on a similar road. They are all transferring the ownership of their businesses to their employees.
Read MoreWorkers at Stewart's Shops are riding a rising company stock price that has created dozens of new millionaires heading for retirement, at least on paper. Stock for the privately held company, which employs more than 4,500 people, has boomed this decade, rising 66 percent between 2011 and 2016, according to annual reports filed with the U.S. Labor Department.
Read MoreREDWOOD CITY, Calif.--(BUSINESS WIRE)--Shutterfly (NASDAQ: SFLY), the leading online retailer and manufacturer of high-quality personalized products and services, today announced it has closed its previously announced acquisition of Lifetouch, the national leader in school photography. The company financed the acquisition with the proceeds of an $825 million incremental term loan facility, which closed simultaneous with the acquisition.
Read MoreWASHINGTON — Popular convenience and gas store chain Wawa has launched its annual spring hiring campaign and says it's goal is to hire up to 5,000 new employees during the next three months.
Read MoreValuation multiples continued to surge in the fourth quarter of 2017, according to GF Data. Deal pricing pushed upward to an average mark of 8.1x EBITDA, a 19.3% increase over the year ago fourth quarter (6.8x) and a 7.0% jump from 3Q:17 (7.5x). The 8.1x mark is a 28.5% increase over the GF Data historical average multiple of 6.3x, which includes deals dating back to 2003.
Read MoreQuick: what do a grocer in Sonoma County, California; a bookstore in Cambridge, Massachusetts; a real estate company in Columbus, Ohio; and a coffee house in Rock City, Maine have in common? Answer: all four companies are converting to worker ownership.
Read MoreTwo bills on employee stock ownership plans (ESOPs) have passed without dissent in the Small Business Committees in the House and the Senate, and both have bipartisan support.
Read MorePROVIDENCE, R.I. — Should Rhode Islanders own the companies they work for?
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