by Corey Rosen
[Editor’s note: The launch of an ESOP doesn’t magically transform how employees view their jobs. So how can companies get people thinking and acting like the owners they are? Corey Rosen’s new book (left) offers a wealth of information and examples showing ways to do just that. We present a short excerpt here, illustrating how three companies have developed custom tools to help people understand and use the numbers that drive the business. Get the ...
by Christopher Mackin
With the news arriving in late December that New Belgium Brewery employees voted to confirm the sale of their company to Kirin-owned Lion Little World Beverages, it is now official: a legendary ESOP story that began in the year 2000 is over. New Belgium Brewery is no longer an employee-owned company.
As news of the sale recedes, it is interesting to contemplate how New Belgium’s 700 employees might feel about the vote. A last-minute
Employee-owned companies already have some strategic advantages over their conventionally owned counterparts. They can create an ownership culture that doesn’t ring hollow. They have a powerful incentive and retention tool in the ESOP. Most can save on taxes, so cash flow is generally healthier.
But there’s another opportunity that only a few employee-owned companies have so far taken advantage of: shared leadership.
Businesspeople everywhere have grown accustomed to ...
by John Case
An immigrant’s son. Serial entrepreneurship. A grandson’s vision and a family’s bold decision. Somehow it all led to a thriving employee-owned company that has become a regional institution
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James Timothy O’Connell was not going to take Latin. That was final. The year was 1903, and the boy was just 14. But he ...
If you lived in upstate New York or southern Vermont, you’d be familiar with the Stewart’s Shops chain of convenience stores. But you might not know just how well the stores’ employees are doing.
Stewart’s launched an ESOP in 2001, and its 5,000-plus employees now own close to 40% of the 355-store company. It recently announced a $17 million contribution to the plan, $6 million more than a year ago. That amounts to nearly 20% of an ESOP participant’s salary, the company ...
What’s interesting about TDIndustries, a big mechanical construction and facilities-services firm, isn’t just its business results, though heaven knows those results are impressive enough. ...
Ted Gould works in the West Rutland plant, running the machines that turn big rolls of paper into cardboard cylinders. Tina Bell’s job is in the office of the plastics molding facility, over in central Rutland. Dan Pomykala is an IT specialist based at corporate ...
