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 ESOP Association
ESOP Association Resources
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
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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.
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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).
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Nov. 16
The AACE Awards honor and celebrate the year’s greatest achievements in ESOP and employee ownership communications. Communicating and engaging with our employee owners is essential to a company's success. The AACE program has highlighted the most innovative, and best, practices nationwide.
The ESOP Association recognizes the ESOPs leading the way in communicating with employee owners, our communities, our elected officials, and other major stakeholders. This year’s winners displayed amazing creativity.
The ESOP Association recognizes the ESOPs leading the way in communicating with employee owners, our communities, our elected officials, and other major stakeholders. This year’s winners displayed amazing creativity.
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Advocacy
Oct. 31
Election Day is November 8th, 2022, and it’s important that employee owners take the time to ensure their voice is heard when selecting our representatives in Washington, D.C. and in state houses and legislatures nationwide. And while we often think or talk about election “day”, the reality is that your opportunity to vote extends well before election day. In 2020, more than 91 million ballots had been cast by Halloween. In the end, more than 154 million votes were cast in 2020, out of more than 257 million potential voters.
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Oct. 21
This October, Employee Ownership Month, The Gazette, a Folience brand, ran a special ESOPTOBER Employee Ownership Month Celebration Sunday Edition of their Newspaper to celebrate their ESOP and help the community understand what it means to be employee owned.
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