No not really…Did you know… On February 16, 1792, Washington signed into law a bill from the U.S. Congress that cut taxes for ship owners and sailors in the American cod fishery, in an effort to revive the failing industry. However, the tax cut was conditioned on a broad-based profit sharing arrangement between shipowners and…
This is a fictitious story about Billy and Bobby. Billy and Bobby grew up in the same town and were best friends. They attended school together through college where they both received an engineering degree. After college Billy accepted a position at ABC Company, where the company provided a 401K Plan with a 100% match…
Congrats to Massachusetts for forming the newest State Center for Employee Ownership! STATE ALLOCATION REVIVES THE MASS. CENTER FOR EMPLOYEE OWNERSHIP Cambridge, MA—June 27, 2019 Following a meeting with state officials at the Massachusetts Office of Business Development (MOBD), the Massachusetts Center for Employee Ownership (MassCEO) received $50,000 dollars in state funding for its annual operating…
Many thanks to the following House Members for support of H.R. 2258: HR 2258 is a bill to support the Promotion and expansion of Private Employees Employee Ownership Act of 2019. Don’t see your representative on the list? Feel free to contact them to ask for their support. Representative / Co-Sponsor Date Rep. Smith, Jason…
As a Louis O. Kelso Fellow at Rutgers University’s School of Management and Labor Relations, Dr. Van Doel will be attending the 2019 Beyster Symposium June 23-25 in La Jolla, California. The purpose of the annual symposium is to study broad-based forms of financial participation in capital ownership and capital income, such as broad-based employee…
Last week I was asked about the distribution of ESOPs within our great state of Indiana. While it makes sense that the denser areas of population would have more businesses and thus a greater opportunity to have ESOPs, and the data does bear this out. For example Indianapolis is home to 43 ESOPs, Fort Wayne…
In the first 5 months of the 116th Congress there have been 6 pieces of Pro-ESOP legislation initiated. Three each in the US Senate and House of Representatives. Several of these were introduced in late May and the text of the bills are not yet available in the Federal Legislation Tracker. We will monitor the status…
The Annual Survey of Entrepreneurs (ASE 2016 Data) provides an interesting insight into the business owner’s exit strategy. An extract of the United States data, broken down by the categories of all reporting firms, minority, non-minority, and Black or African American business owners is provided in Table 1. While there is some variation amongst these…
The Indiana Legislative Council met on May 21 to review and assign topics to the interim session study committees. As described by Senate President Pro Tem Rodric Bray (R-Martinsville): “Study committees provide an important opportunity for lawmakers to examine complicated issues in depth without the same time restrictions we face during a legislative session,” Bray…
ESOPs are a wonderful organizational structure, they can: Reduce wealth inequality through broad based equity sharing Provide wealth generation for retirement requiring no financial contribution from the employee For employees not planning to retire, the ESOP can still build wealth Provide an opportunity for employees to be more engaged and involved through participative management philosophy…