Loren Rodgers
The Pandemic Will Change the Ownership of American Companies
Two prominent writers, Timothy Wu and Robert Reich, have articles in the New York Times about COVID-19’s effect on ownership patterns among U.S. corporations.
Employee Ownership Blog
Loren Rodgers
The NCEO Captive Insurance Initiative: ESOP Companies Working Together to Reduce Costs
Here are three things I believe: ESOP companies are well-managed, they tend toward being open with information, and they are generous about sharing best practices with each other. If I’m right, then any group of ESOP companies is likely to have better-than-average risk profiles. And if that’s true, it should be possible to translate these characteristics into better insurance opportunities for ESOP companies.
Timothy Garbinsky
Employee-Owned CA Bus Company Goes Electric
Vallejo, California-based Michael's Transportation Service, Inc., which has been employee-owned since 2009, announced that it will be adding all-electric Blue Bird school buses to its fleet, making it the first in the state to do so. Though the emissions-free buses won't hit the streets just yet due to the COVID-19 restrictions, the fact that Michael's has already received the delivery suggests that they are well ahead of the curve when it comes to environment-friendly transportation.
Corey Rosen
NCEO and ASA File Amicus Briefs in Choate ESOP Case
Update on July 16, 2020: Pursuant to a motion by the plaintiff-appellant, the Fourth Circuit has today dismissed the plaintiff's appeal of the district court's judgment.
Loren Rodgers
Thank You, from the NCEO
Thank you.
Dallan Guzinski
Employee Survey Project: Asking Employee-Owners About the COVID Work Experience
With remote work, socially distanced production, new shift schedules, and virtual meetings, companies are beginning to head toward a new normal in their operations. The NCEO is developing a survey that will help gather your employee-owners' assessment of how well the new way of working is going and what their ideas are for improvements. It will also give you a chance to check in with how they're managing during these times of crisis.
Loren Rodgers
Mark Cuban: "Give Employees Stock"
LinkedIn's Daniel Roth interviewed billionaire investor Mark Cuban and posted the online interview. In it, Cuban makes it clear that he is not talking just about a sense of ownership—he’s been quoted for decades as a supporter of employee ownership: “When we sold Broadcast.com to Yahoo, 20 years ago give or take, out of 330 employees, 300 became millionaires. And those 30 weren't only because they started too late. But they got paid as well." (Also see our June 17, 2019, blog post.)
Nancy Wiefek
Corey Rosen
SBA Updates Guidance on Payroll Protection Program Compliance
On May 13, 2020, the SBA, in consultation with the Department of the Treasury, updated its Frequently Asked Questions to include a new Question 46 that provides additional guidance about the certification needed to prove that the funds were necessary in order to maintain payroll and thus eligible for forgiveness.