Dixie Plywood and Lumber Company (DIXIEPLY), a leading wholesale distributor of building materials, is proud to announce it has become 100% employee-owned through an Employee Stock Ownership Plan(ESOP). The ESOP was announced to DIXIEPLY's employees on November 1st by Dan Bradley, President of the 75 year old company. The ESOP became effective October 31, 2019. Management and personnel will remain the same and the Bradley family will continue to play a role on the board of directors.
Read MoreThe Michigan Democratic Caucus announced a bill (H.B. 5202) that would provide an income tax deduction equal to 50% of the gain from the sale or transfer of a business to one or more employees or from the conversion of a business to an employee-owned business. Joseph Tate (D-2nd District) introduced the bill on November 6.
Read MoreWith unemployment rates hitting historic lows and state GDP now eclipsing the UK's, California's economy seems strong.
Read MoreNEW YORK and CHICAGO, Oct. 29, 2019 /PRNewswire/ -- STV Group, Inc., ("STV") and The Pritzker Organization, L.L.C. ("TPO") announced today that the Tom Pritzker Family Business Interests ("PFBI") advised by TPO have agreed to recapitalize the ownership of STV. STV is a leading engineering, architectural, program/construction management, planning, and environmental professional services firm, with corporate headquarters in New York, NY, and Douglassville, PA. Under the terms of the agreement, TPO will purchase shares in STV owned by the company's Employee Stock Ownership Plan ("ESOP") and partner with current management to leverage STV's existing strength to drive future growth.
Read MoreThe Columbus landscape architecture firm MKSK will become employee-owned under a plan announced Wednesday. The firm's 100 employees will accumulate shares that they can cash in upon retirement. The company, which has seven offices in the region, is the latest of several central Ohio firms to become employee-owned.
Read MoreMacaran Printed Products, a division of W.N. Van Alstine and Sons, Inc., announced that the company has become a 100% employee-owned entity, converting to an Employee Stock Ownership Plan (ESOP) which became effective earlier this year.
Read MoreConnection of performance to workforce satisfaction and success helped drive global engineering and construction leader's growth
Read MoreShawn Burcham founded Pro Food Systems (PFSbrands) over 20 years ago because he believed that he could run a wholesale food and equipment company better than the competitor he was working for at the time. PFSbrands is parent company to Champs Chicken, Cooper's Express, and BluTaco, in addition to being 100% employee owned and completely run with open-book management. Ladders spoke with PFSbrands founder and CEO Shawn Burcham to find out more about open-book management companies, the reward of taking risks, and employee stock ownership plans (ESOP).
Read MoreWorkers between the ages of 18 and 34 who are employee-owners have 92% higher median household wealth relative to workers who are not employee-owners.
Read MoreA $455,000 settlement has been reached in a case involving a Tennessee-based trucking company's Employee Stock Ownership Plan (ESOP) following an investigation centered around the carrier's former owner, who also served as its chief financial officer, as well as the company's former ESOP trustee.
Read MoreCompany Implements Employee Stock Ownership Plan (ESOP)
Read MoreEach October, the spirit of employee ownership is highlighted during Employee Ownership Month, an ideal time to boost awareness for employee stock ownership plans (ESOPs) and their benefit to companies, employees and communities at large.
Read MoreIRVINE, Calif., Sept. 30, 2019 /PRNewswire/ -- International Education Corporation (IEC) and its subsidiary companies are proud to announce they are in the process of becoming employee-owned by creating an Employee Stock Ownership Plan (ESOP).
Read MoreMatt Crafton's entire life has been shaped by the company his father co-founded 56 years ago. Now, he's put forth a plan that will help shape the lives of the people who work for it.
Read MoreHell's Kitchen, the cheekily named restaurant in downtown Minneapolis that's known for its house-made peanut butter, lemon ricotta pancakes and crazy huge bloody Mary bar, is turning over ownership of its operations to employees.
Read MoreTubing manufacturer NewAge Industries is now 100% owned by its employees through an ESOP (Employee Stock Ownership Plan). The ESOP is a retirement benefit that gives employee-owners a true stake in their futures. Ken Baker, CEO, sold portions of the business to the ESOP in three stages over the past thirteen years. September 2019 saw the completion of a decades-long plan to help ensure the continued success of the company and avoid a competitive buyout.Southampton, PA, September 08, 2019 --(PR.com)-- At a company-wide meeting held September 5, it became official: NewAge Industries is now entirely owned by its employees through its ESOP (Employee Stock Ownership Plan). The event was the culmination of a plan first considered by CEO Ken Baker more than two decades ago.
Read MoreFormer employees held a majority of shares in the agency
Read MoreHONEOYE FALLS, N.Y., Sept. 5, 2019 /PRNewswire/ -- KJT Group is proud to announce they are now a 100% employee-owned company. This announcement of the sale to the Employee Stock Ownership Plan & Trust (ESOP) was made to KJT Group employees at a special meeting held at the company's headquarters in Honeoye Falls, NY.
Read MoreRogers-based architecture and engineering firm Crafton Tull announced Tuesday the company has established an Employee Stock Ownership Plan, or ESOP.
Read MoreOn August 28, Bloomberg BNA reported "Labor Boosts Political Staff's Power in Benefits Arm Shuffle." The changes announced affect the Employee Benefits Security Administration (EBSA), the unit of the Department of Labor responsible for regulation and enforcement of the Employee Retirement Income Security Act (ERISA), which governs ESOPs and other benefit plans. Under the newly announced organizational structure, units of EBSA that had reported to the deputy assistant secretary for program operations, career official Timothy Hauser, will instead report to the deputy assistant secretary, Jeanne Klinefelter Wilson, a political appointee.
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