From the New Hampshire Business Review: I read with great interest the Feb. 21-March 6 article by Steve Burke, Beth Fowler and John Bentas of the McLane Law Firm heralding “the biggest transition of business ownership in history.” They’re right – but they only got half the story. As the three tax lawyers pointed out, ESOPs (employee […]
From Labor Notes: A tire is not just a piece of rubber with a hole in it. I learned this when I visited the workers’ cooperative that makes Cooper tires in El Salto, Mexico. A tire is a sophisticated product that comes about through a chain of chemical processes, lots of machine pounding, and still […]
From Iowa State University: One possible strategy for both succession and new business development is employee ownership. New business formation as an employee-owned firm or cooperative may have some advantages over formation as a sole proprietorship or partnership: pooling financial resources, spreading risk and combining the various knowledge and skills of the members involved. In […]
From Minn Post: A decade ago, John Schock of Pasadena, Md., reached his mid-50s and a crossroads. He could fund his retirement by selling off his financial-services firm to another company. But he wanted to assure the future of FMS, the firm he’d founded in 1974. “If there isn’t a solid succession plan for key […]
From the USDA: Employee ownership can help a business prosper by creating financial incentives for performance and by providing more self management of working conditions and policies. These benefits may accrue whether businesses are organized as cooperatives or as Employee Stock Ownership Plans (ESOPs) when workers have a majority control. Employee owners in rural communities […]
From Bloomberg (pdf): Unlikely Pioneers: A machine shop takes a new approach to employee ownership David Baird knows machines. With almost 30 years’ experience running lathes, drills, and grinders, he can tell if a piece of equipment needs a tune-up by listening to its hum. Despite being a skilled craftsman, Baird figured he’d always be a […]
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