New Data on Employee Ownership in S&P 900

The NCEO has developed a list that provides a breakdown of employee ownership in the S&P 900 index of large- and mid-cap publicly traded companies for the Heron Foundation.

ESOP Governance Tip

Some ESOP companies want to get employees and/or outsiders involved at the board level, but do not want them to have fiduciary obligations. They may also want them only for certain parts of a meeting or for certain meetings.

Efficient Markets: My Own Definition

Over the last few decades, the dominant theory about a lot of the economy has been the so-called efficient market theory, which assumes that markets can operate in ways based on the simultaneous and well-informed calculations of numerous players, each making value-maximizing decisions.

NCEO Seeks New Executive Director to Start in 2011

As part of a very long-planned transition, I will step down as executive director at our 30th annual conference in Denver in April 2011. As I explain in the note below, I will not be retiring from the NCEO; I will, however, be changing roles to continue as a member of the staff.

A Personal Note on My Upcoming Change of Roles at the NCEO

At our annual conference in April 2011, I will step down as executive director of the NCEO, a post I will have held at that point for over 30 years. I will not, however, be retiring from the NCEO. I plan to continue to work here for what I hope will be many more years.

Another Court Says ESOP Trustees Cannot Be Indemnified

In the second case in the last two months on this topic, a court has ruled that an ESOP trustee cannot be indemnified for breaches of fiduciary duty that involve an ESOP if the indemnification comes out of corporate assets. In Fernandez et al. v. K-M Industries Holding Co., No.