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
May. 31
Chapter ESOP Company of the Year; Chapter Employee Owner of the Year.
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ESOP Blog, Resource
May. 18
On May 10, the prestigious Aspen Institute held a panel discussion on employee ownership that was attended by individuals and groups involved in policy making and thought leadership. The ESOP Association assisted in gathering potential speakers.
The event featured a visit from Rep. Erik Paulsen (R-MN), and a four-person panel representing corporate members of The ESOP Association. The panelists included:
The event featured a visit from Rep. Erik Paulsen (R-MN), and a four-person panel representing corporate members of The ESOP Association. The panelists included:
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Resource, Press Releases
May. 11
The ESOP Association celebrates a new law that will help businesses better understand and pursue options for becoming employee owned. The law—the Main Street Employee Ownership Act—seeks to make better use of existing programs offered by the Small Business Administration (SBA) to companies considering an employee owned model, such as an Employee Stock Ownership Plan (ESOP).
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Resource, ESOP Report, Legal Update, Ownership Advantage, Washington Report, President's Page, ESOP Communication Committee, Fitz-Gerald
May. 01
One ESOP bill passes in the House, another is introduced in the Senate.
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