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 […]

Minnesota

Yes – The Co-op That’s Keeping Community Money Out of Big Banks

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From Yes! Magazine: The Financial Cooperative calls its task “nonextractive” or “regenerative finance.” The goal is to give control of capital to communities that have been most marginalized, but also to funnel capital into those communities. It believes in cooperative control of community financial institutions and set itself up as a cooperative nonprofit, with each […]

Common Properties Management – Minneapolis, MN

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Common Properties Management Cooperative, is a 6 employee real estate management company in Minneapolis, Minnesota. The company was founded to help maintain housing cooperatives, and was previously was owned in common by the buildings it maintained.  Recently it recognized that worker ownership would re-engage members and support the participatory culture it had built.  Industry: Property […]

ESOP

Star Tribune – Employee ownership is secret sauce at rapidly growing Burns & McDonnell

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From the Star Tribune: B&M die-hards say the secret sauce is 5,300 employee-owners dedicated to its 30-year history as an employee stock ownership plan (ESOP) firm that builds wealth over careers as the company grows more profitable. “Everyone here is an owner,” Sieve said. “The partners. And the receptionist.” ESOP evangelists say employee ownership, in […]

California

GEO – How Urban Governments Are Promoting Worker Co-ops

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From Grassroots Economic Organizing: City governments are shaping up as key actors accelerating worker co-op development. It started in 2009 when the City of Cleveland accessed a federal guaranteed loan to help finance the Evergreen Cooperatives. Since then, nine more city governments have moved to promote worker cooperatives through municipal projects, initiatives, or policies because […]