The ESOP Association
ESOP Association Resources
Feb. 24
This month we've packed the report with tons of articles and news about ESOPs that you won't want to miss! This month also includes a special report on Cybersecurity preparedness for ESOPs.
1974
Feb. 17
Allowing Loans and Technical Assistance for ESOP Buyouts of Retiring Business Owners
The U.S. Treasury Department has a new program making $10 billion in credit available to all fifty states, U.S. Territories, and Tribes for companies under 500 employees and loans up to $5 million in which ESOPs-in-formation and existing ESOPs can play a role. The program is the State Small Business Credit Initiative (SSBCI) – it is not part of SBA. The $10 billion in credit is being distributed to the Governors of all fifty states.
The U.S. Treasury Department has a new program making $10 billion in credit available to all fifty states, U.S. Territories, and Tribes for companies under 500 employees and loans up to $5 million in which ESOPs-in-formation and existing ESOPs can play a role. The program is the State Small Business Credit Initiative (SSBCI) – it is not part of SBA. The $10 billion in credit is being distributed to the Governors of all fifty states.
1949
Feb. 13
In This Issue
Page 2 Chapter Expansion
Page 3 State and Regional Chapter Council (SRCC) Meeting 2023
Page 4 Getting To Know: Roland Burdett
Page 6 Getting to Know: Tamera Edwards
Page 8 Green with Ownership
Page 9 Chapter Officers and Sponsors
Page 2 Chapter Expansion
Page 3 State and Regional Chapter Council (SRCC) Meeting 2023
Page 4 Getting To Know: Roland Burdett
Page 6 Getting to Know: Tamera Edwards
Page 8 Green with Ownership
Page 9 Chapter Officers and Sponsors
1967
Advocacy
Feb. 10
At The ESOP Association, we’re resolving to continue the exciting growth and accomplishments from 2022 and striving to serve our membership in new and better ways.
1944
Feb. 03
Second Circuit Addresses Key Pleading Requirement for Constitutional Standing in ESOP Transaction Case
The Court of Appeals for the Second Circuit affirmed the dismissal of a putative class action suit involving stock overvaluation claims against an independent trustee and several officers and directors of Tharanco Group, Inc. in connection with the purchase of employer stock during the formation of the Tharanco ESOP on constitutional standing grounds in Plutzer v. Bankers Trust Co. of S. Dakota (22-561-cv, Nov. 21, 2022).
The Court of Appeals for the Second Circuit affirmed the dismissal of a putative class action suit involving stock overvaluation claims against an independent trustee and several officers and directors of Tharanco Group, Inc. in connection with the purchase of employer stock during the formation of the Tharanco ESOP on constitutional standing grounds in Plutzer v. Bankers Trust Co. of S. Dakota (22-561-cv, Nov. 21, 2022).
1948
Chapter News, Resource
Jan. 31
Review of 2017 government relations efforts.
550
ESOP Blog, Resource
Jan. 31
I am hearing increasingly from certain thought leaders that current ESOP laws do not create “good” employee ownership plans.
Anytime we ESOP advocates encounter someone who takes such a view of ESOPs, we need to ask ourselves, “Why does that person think ESOPs are not good employee ownership plans?” When we know the answer, we can counter the ESOP cynic’s point of view.
In my experience, there are three main criticisms of ESOPs. I’ll deal with each one in a separate blog post.
The first criticism maintains that ESOPs are bad retirement plans.
Anytime we ESOP advocates encounter someone who takes such a view of ESOPs, we need to ask ourselves, “Why does that person think ESOPs are not good employee ownership plans?” When we know the answer, we can counter the ESOP cynic’s point of view.
In my experience, there are three main criticisms of ESOPs. I’ll deal with each one in a separate blog post.
The first criticism maintains that ESOPs are bad retirement plans.
384
Resource, Press Releases
Jan. 21
For more than 28 years, Employee Ownership Month has been an opportunity for ESOP (employee stock ownership plan) companies across the nation to educate employee owners and the public about the undeniable benefits of employee ownership for employees, their companies, their communities, and the nation.
366
ESOP Blog, Resource
Jan. 17
For some time now, the data have shown that businesses with employee stock ownership are clearly better than conventionally owned companies at retaining employees. But new insights gleaned from existing research data show that, over a period of 12 years, businesses with employee stock ownership have gotten increasingly and dramatically better than conventionally owned firms at retaining employees.
How much better? Try 235 percent better!
How much better? Try 235 percent better!
385
Resource, ESOP Report, Legal Update, Ownership Advantage, Washington Report, DOL, Foundation, Compliance Testing, Communication, EBSA, Employee Ownership Month
Jan. 10
Shifting views on personal property just might open the door to greater employee ownership.
315