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Writing in the March 5 issue of the New York Times Magazine, best-selling business author Michael Lewis (Liar's Poker and The New, New Thing, among others) says that "the single most powerful trend in American work [is] employee ownership." Lewis has somewhat mixed feelings about th

The September 20 edition of BusinessWeek Online contains a persuasive article by commentator Chris Farrell (also heard on NPR's "Sound Money" program) titled "Stock Options for All." Farrell argues that CEOs are getting far too much already and could easily give up some of their options to spread

Many would argue that Congress did intend to provide an incentive for S corporations to set up ESOPs, but did not intend to provide an incentive for C corporations with ESOPs to switch to S. The tax cost of this oversight could be substantial.

We gave our annual Achievement Award to Calibre, whose video won for its creativity, humor, and energy. Bridges Health was the runner-up, with an energetic and inclusive video.

On August 12, Governer Jerry Brown signed into law the California Worker Cooperative Act, designed to facilitate the creation and financing of worker cooperatives.

Several California Assembly and Senate members have written letters to the leaders of the Assembly Budget Committee urging inclusion of a $36.5 million appropriation to fund a one-time effort to support employee ownership in the state. A major tax bill in Colorado would provide $10 million in tax credits for conversion to employee ownership.

In what would be the most significant step forward by a state yet, Senator Josh Becker introduced the Expanding Employee Ownership Act, which would provide outreach, financing, and technical assistance for conversions to employee ownership.

On September 29, 2022, Givernor Newsom signed the California Employee Ownership Act. A broader version of the bill previously passed the Senate. The bill had unanimous support in both houses.

The District Court of Northern California ruled on October 24 that the fiduciaries of the California Pacific Bank were personally liable for $875,000 resulting from their failure to follow plan documents during the termination of the ESOP in 2011.

In 2022, the California Employee Ownership Act established the California Employee Ownership Hub within the California Office of Small Business. However, California is facing a budget deficit, and no funds were set aside for the program, throwing the future of the program into serious question.