The Great Resignation; Quiet Quitting; Quiet Firing.
Whatever the buzzwords, there’s no doubt about one thing: companies are struggling to find enough workers.
There currently are two job openings for every unemployed person in America, but attracting scarce people is only half of the battle.
Just as difficult is engaging them (and keeping them engaged), so they don’t jump ship at
Corey Rosen, Founder, National Center for Employee Ownership
Johnny’s Pizza House is a chain of 38 company-owned pizza and eleven franchise restaurants in Louisiana, Arkansas, and Mississippi. Johnny’s employees don’t just serve up slices—they get a slice of the company too. Johhny’s is 100% owned by its almost 1,000 employees though an Employee Stock Ownership Plan
On October 19, 2020, FMI Capital Advisors announced the transfer of ownership of Hunter-Davisson, Inc. (“Hunter-Davisson”) to company employees via the Hunter-Davisson, Inc. Employee Stock Ownership Plan (“ESOP”). In this transaction, Hunter-Davisson became 100% employee-owned. FMI Capital Advisors was the exclusive financial advisor to Hunter-Davisson for this transaction.
Based in Portland, Oregon, Hunter-Davisson is
Merrick’s employee ownership journey started at the beginning of our company, with Founder Sears Merrick. In fact, the first stock transactions in Merrick’s history were recorded in the year we were incorporated, 1959. Sears had a theory that anyone who worked for themselves would work that much harder (and he was right!). From
Fireclay Tile, the socially responsible California tile maker with a mission to do good, today announced a significant expansion to Employee Ownership. As the first and only Certified B Corp™ tile maker and the first Climate Neutral Certified tile company, Fireclay Tile strives to galvanize others in the industry to build a better version of capitalism
Northern Tree Service Inc. announced it has transitioned the ownership of its business lines over to an employee stock-ownership plan, or ESOP.
The Lazear Capital Partners team worked with the management of Northern Tree Service to design a custom solution that included employee benefits, financial flexibility, and maximum tax advantages.
Founded in 1932 by Walter Cambo, the
CEM Machine Inc. announced to its employees Thursday morning that the privately held manufacturer has been bought out and will become 100 percent employee-owned.
President Mark D. Robinson, who has been an owner of CEM since 2000, gathered about 30 of the company’s 55 total employees outside the West End Avenue facility — in
Peter Harken, the co-founder of internationally-renowned sailboat hardware and accessories manufacturer Harken Inc. in Pewaukee, says he and his late brother Olaf Harken rejected overtures from at least 50 potential acquirers over the years but now it’s time to “pass the baton.”
Harken, 83, who is the company’s chairman, announced
A common and costly mistake when it comes to business succession planning is not starting the process early enough. By waiting too long, an owner runs the risk of not having the right people in place to run the business, as well as having much of the business’ value consumed by estate taxes. Either misstep
L’Oréal said it is launching a second employee share ownership plan, which will be introduced in 57 countries. Under the plan, group employees will be able to buy 500,000 shares at a discounted rate. The subscription period will run from Sept. 17 to Oct. 2, and settlement is scheduled for Nov. 3.
A Greenfield-based specialty underground contractor has switched its ownership status. Midwest Mole Inc. says it has transitioned to an Employee Stock Ownership Plan following the retirement of second-generation owner and Chief Executive Officer Dan Liotti.
The company, which provides boring, trenchless tunneling, and directional drilling services throughout the Midwest, has been family owned since
When an owner of a privately held business is planning to retire, there are many ownership transition options to choose from. You can go the route of a management buyout, transfer to the next generation, a sale to a third-party buyer, an
Alltek Energy Systems president and co-founder Mike O’Connor has sold his 40-year-old plumbing, heating and mechanical contracting firm to his 60 employees.
O’Connor, 67, formed an employee stock ownership plan this month turning over 100% of the assets of a Waterford
An Erie-based company has completed its transition to a 100 percent employee-owned business.
Officials from Onex, an industrial furnace company, announced the creation of a new Employee Stock Ownership Plan (ESOP) at a company event on August 21. Company officials say the transition secures the Onex’s future in Erie.
“Being 100 percent employee-owned rewards our hard-working employees,
Gene Milstein, founder, and his wife, Dee Milstein, co-owner of Applewood Seed Company, announce the formation of an Employee Stock Ownership Plan (ESOP), transferring significant ownership of the company to current and future employees.
As part of a comprehensive succession plan, the Milsteins formed the ESOP to implement their goal of keeping Applewood Seed as a
Sen. Ron Johnson (R-Wis.), one of the most conservative members of Congress, and Rep. Alexandria Ocasio-Cortez (D-N.Y.), one of the most liberal, have both introduced sweeping proposals to broaden employee ownership in the U.S. That surprising fact testifies to just how practical—and urgent—this idea is.
Too many Americans have too
For many business owners, a succession plan is about more than creating an exit strategy or profiting from the sale of the company. It’s
Avion Solutions, Inc. is proud to announce it is now a 100% employee-owned company. This announcement of the sale to the Employee Stock Ownership Plan (ESOP) was made on July 31, 2020 to employee owners.
“Since we became an ESOP company in 2007 our goal has always been to be a 100% employee-owned ESOP,” said Chad Donald,
As I write this blog, I’m getting my oil changed. I realize that this is not an earth-shattering event and that it happens all the time. But I realized I had not had to change it since late last year. I literally cannot think of another time since I started driving at age 16 that
Stewart’s Shops said Tuesday it distributed an additional Employee Stock Ownership Plan dividend to its participating employees. The amount represents 4.5 percent of employees’ ESOP balance at the end of 2019.
The company said the employees, which it calls Partners, can either take the dividend as a cash payout or roll it over into their ESOP
