ESOP

Star Tribune – Chew on this: Hell’s Kitchen owners sell their restaurant to employees

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From the Star Tribune Hell’s Kitchen, the Minneapolis restaurant known for irreverent marketing, a 35-foot Bloody Mary bar and lemon-ricotta pancakes, will soon stand out for something else: employee ownership. On Wednesday, owners Cynthia Gerdes and Steve Meyer closed the restaurant after lunch for a staff meeting, where they told more than 100 employees they […]

Minnesota

Star Tribune – Nexus Community Partners plans to further worker ownership and wealth

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From the Star Tribune: Twin Cities-based Nexus Community Partners plans to accelerate its worker-owned business initiative thanks to a $1.2 million grant it has received from the Kendeda Fund of Atlanta. Moreover, earlier this year, Nexus entered into a related partnership with the St. Paul Area Chamber of Commerce designed to get more small-business owners […]

Democracy at Work Institute

ASBN – How Employee Ownership Can Reshape the Economic Outlook of South Atlanta’s Minority Neighborhoods

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From the Atlanta Small Business Network: When it comes to small businesses and entrepreneurship, Atlanta is where business owners go to thrive. However, the story is not as bright for all of the city’s citizens. While Atlanta boasts a booming economy for most, the city became the number one most unequal large city in the country on […]

Georgia

Atlanta Business Journal – Choate Construction moves towards 100% employee-ownership

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From the Atlanta Business Journal:  One of Atlanta’s top private companies ranked by companywide revenue will soon be 100 percent employee owned. Atlanta-based Choate Construction Co. reported it is transferring beneficial ownership via the newly created Choate Employee Stock Ownership Plan (ESOP) Trust. Company founder Millard Choate said the firm was “solicited continuously over the years by […]