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LA Economic & Workforce Development helps transition company ownership from retiring owners to long term employees
From the Los Angeles Economic & Workforce Development Department: The City of Los Angeles Economic and & Workforce Development Department recognizes Concerned Capital for transition of ownership work done to avert layoffs. The strategy was to target companies with retiring business owners and help workers buy the company. In 2016, EWDD awarded a contract to Concerned […]
Nonprofit helps employees take hold of reins as business owners retire
Read the full article at the San Francisco Chronicle Tom Adams and George Chittenden, owners of Adams & Chittenden Scientific Glass, have been coasting toward retirement. The prospect of retiring was once daunting, Adams told me, because he and Chittenden didn’t know what to do with the Berkeley glassblowing company they started together 25 years […]
Durham Considers Employee Ownership as Strategy to Preserve Black Businesses
Read the full article at Nonprofit Quarterly: As Sandra Larson writes in Next City, Durham, North Carolina was once home to many “Black-owned financial institutions and businesses that sprang up around Parrish Street during the Jim Crow era.” This included firms such as Mechanics and Farmers Bank and North Carolina Mutual Life Insurance Company. But, as […]
Bank-Nonprofit Alliance Launches Worker Co-op Initiative in Miami
Read full article at: Nonpofit Quarterly: In an op-ed in the Miami Herald, Gretchen Beesing, CEO of Catalyst Miami, a 22-year-old human service nonprofit, and Maria Escorcia, vice president of global philanthropy for JPMorgan Chase, announced their intent to join forces “to pilot a new program to support development of employee-owned businesses in Miami-Dade County.”
Can Employee Ownership Preserve Durham’s Legacy of Black Businesses?
From Next City: Durham, N.C., was once known nationally for its “Black Wall Street,” a cluster of flourishing black-owned financial institutions and businesses that sprang up around Parrish Street during the Jim Crow era, including some iconic insurance and finance firms such as Mechanics and Farmers Bank and North Carolina Mutual Life Insurance Company. With […]
When employees are the boss, they make more, save more and are less likely to lose their jobs
From the Miami Herald: For many Americans, the idea that workers can own and manage their own businesses may sound far-fetched, but the success of worker cooperatives as a business model argues for rethinking that assumption. To do that, JPMorgan Chase & Co. and the nonprofit human-services organization Catalyst Miami are joining forces to pilot […]