Welcome to your July issue of the ESOP Report
This month we've packed the report with tons of articles and news about ESOPs that you won't want to miss!
The ESOP Association
ESOP Association Resources
Jul. 25
Senior Biden Administration Officials, Key Stakeholders Meet to Discuss Growing Worker-Owned Businesses and Promoting Worker Ownership Transitions
Washington, D.C. – Jim Bonham, President and CEO of The ESOP Association, today was a featured speaker and panelist at a convening on worker-owned businesses hosted by the White House National Economic Council.
Washington, D.C. – Jim Bonham, President and CEO of The ESOP Association, today was a featured speaker and panelist at a convening on worker-owned businesses hosted by the White House National Economic Council.
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Jul. 16
Each year we honor the individuals and companies who have pursued and achieved excellence. Those who are leading the charge and driving ESOPs and employee ownership to ever greater heights…The very best of us.
This is an opportunity to celebrate the best accomplishments within our community. It also gives us the chance to learn from one another, and discover new and innovative ideas that we can implement at our ESOPs.
Thank you to all our companies and individuals who were nominated for, and won, this year's National Awards.
This is an opportunity to celebrate the best accomplishments within our community. It also gives us the chance to learn from one another, and discover new and innovative ideas that we can implement at our ESOPs.
Thank you to all our companies and individuals who were nominated for, and won, this year's National Awards.
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Jul. 11
Urges Court to Consider Bowers + Kubota’s Appeal to Award Attorneys’ Fees After Company Was Vindicated in Overzealous, “Shoddy” Prosecution by Dept. of Labor
Washington, DC – The ESOP Association has filed an amicus brief with the Supreme Court of the United States, asking the Court to grant a writ of certiorari and consider Bowers + Kubota Consulting, Inc., et al. v. Julie A. Su, Acting Secretary of Labor.
Washington, DC – The ESOP Association has filed an amicus brief with the Supreme Court of the United States, asking the Court to grant a writ of certiorari and consider Bowers + Kubota Consulting, Inc., et al. v. Julie A. Su, Acting Secretary of Labor.
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Jul. 10
The House Committee on Appropriations recently released its report on proposed fiscal year 2025 funding for the Department of Labor, which included two very strong provisions affecting ESOPs.
With respect to ESOP company valuation and the adequate consideration exemption, the Committee noted that the DOL has neglected to provide critical regulatory guidance and asks the Department to prioritize formal rulemaking:
With respect to ESOP company valuation and the adequate consideration exemption, the Committee noted that the DOL has neglected to provide critical regulatory guidance and asks the Department to prioritize formal rulemaking:
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Jul. 10
If you couldn’t join us in Washington, DC for The ESOP Association’s National Conference in May, you missed one of the most energetic, informative, and fun events of the year!
It all started with TEA’s Advocacy Academy and our annual ESOP Advocacy Day, both of which drew record participation. On Advocacy Day, nearly 250 ardent ESOP supporters went to Capitol Hill to visit more than 75 Senate offices and nearly 150 House offices across 38 states to discuss critical ESOP issues with their elected representatives. Please see our Advocacy recap below for much more information!
It all started with TEA’s Advocacy Academy and our annual ESOP Advocacy Day, both of which drew record participation. On Advocacy Day, nearly 250 ardent ESOP supporters went to Capitol Hill to visit more than 75 Senate offices and nearly 150 House offices across 38 states to discuss critical ESOP issues with their elected representatives. Please see our Advocacy recap below for much more information!
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Jul. 01
Lately, there has been a flood of new information concerning private equity firms’ interest in employee ownership, specifically by Pete Stavros and KKR, one of the largest PE firms.
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Sep. 29
In this month’s jam packed issue: TEA talks Employee Ownership Month, the recent petition filed with the Department of Labor, and several events and updates for the Employee Ownership Foundation, including ESOPATHON! Also don’t miss the EOM poster contest winner, an AACE Awards update, and Edmunson Scholarship recipients.
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Sep. 22
Washington, D.C. – The ESOP Association (TEA) today exercised its rights under the Administrative Procedure Act to petition the U.S. Department of Labor (DOL) to undertake a long-delayed rulemaking essential to the formation and ongoing operation of ESOPs. Since 1974, the Department of Labor has steadfastly refused to fulfill requirements of the Employee Retirement Income Security Act (ERISA) in violation of Congressional direction and stakeholders’ rights under the Administrative Procedure Act (APA).
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Sep. 22
The ESOP Association (TEA), the national trade association representing companies with Employee Stock Ownership Plans (ESOPs) and ESOP professionals, today exercised rights under the Administrative Procedure Act to petition the U.S. Department of Labor (DOL) to undertake a long-delayed rulemaking essential to the formation and ongoing operation of ESOPs.
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