Maine

Portland Press Herald – Bill would help retiring business owners transfer ownership to workers

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From Maine’s Portland Press Herald: NORTHPORT — In 1992, Susanne Ward and her husband, Patrick Reilley, founded Second Read Books and Coffee, Maine’s first espresso bar-bookstore. Rockland’s Main Street was a highly unlikely place for the two entrepreneurs to choose at that time, as the city was struggling with a collapsing fishing industry and many […]

Maine

Maine Public Radio – The Co-Op Economy in Maine

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From Maine Public Radio: For many people, when they hear the term ‘co-op’ they think of the local food store or maybe one of the lobster co-ops that dot the coast.  But Maine has co-ops of all sizes and types in the retail, agriculture, fisheries, manufacturing, housing, financial services and other sectors.  October is Co-op […]

News

VT Digger – Gov. Phil Scott signs proclamation designation October as Employee Ownership Month

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From VTDigger.org: Proctor, Vt. – At a signing ceremony Wednesday, Governor Phil Scott proclaimed October as Employee Ownership Month in Vermont. The proclamation recognizes the value of employee ownership to Vermont’s economy and in creating opportunities for Vermont workers. “Employee-owned companies play an important role in our economy, bringing stability, increasing productivity and supporting local […]

Maine

Rural Cooperatives – Maine solar business pursues conversion to worker­owned co­op to sustain business, create more jobs

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From Rural Cooperatives: Much has been made of the oncoming wave of baby boomer retirements — dubbed the “Silver Tsunami” — and the opportunity for retiring business owners to convert to employee ownership as a business succession strategy. Particularly in rural areas, where the population is much older than average, selling any small business is […]

News

Whatcom Talk – Let’s Cooperate! How A-1 Builders Owners Successfully Sold to the Most Qualified Buyers: Their Employees

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From Whatcom Talk (pdf): The idea of selling A-1 Builders to their employees made a lot of sense to the pair. But although worker-owned cooperatives are becoming increasingly popular—due to their many benefits, including impressive productivity and high staff morale—the process of transitioning from a standard business to a worker-owned model is less common. Yet […]

North Carolina

Asheville Citizen Times – Employee Ownership could be Asheville’s Key to Prosperity

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From the Asheville Citizen Times (pdf): In Western North Carolina the 12,000 retiring small business owners (nearly half of the total according to our latest study) do have options. For example, they could sell their businesses to outside corporations looking to acquire more diverse assets for their portfolios. This often means layoffs, relocation, changes in […]