A new law in Maine, LD 1969, directs the Maine Public Utilities Commission to require that any renewable energy project in the state receiving $50,000 or more in state funding to meet certain labor standards, including paying prevailing wages.
Ninety-two percent of the 13,000 employees of Kanan Devon Hills Plantations (KDP), a South Indian tea plantation, have purchased stock to buy the company from its owner, Tata Tea.
On October 6-7, the Russell Sage Foundation and the National Bureau for Economic Research (NBER) held a two-day session in New York to discuss the results of a multi-year NBER research project on "shared capitalism" (employee ownership, profit sharing, and gainsharing).
The Texas House of Representatives has set up a hearing on H.B. 2246, “An act relating to companies in which employees have ownership interests through employee stock ownership plans.”
The Consolidated Appropriations Act of 2023, an omnibus spending bill with many parts, contains major wins for employee ownership as part of the SECURE 2.0 Act of 2022, including the passage of the WORK Act.
A new study of 328 majority ESOP-owned members of the ESOP Association by Brent Kramer has found that these companies have sales per employee that are 8.8% greater than comparable non-ESOP companies. 100% ESOP-owned companies did better than those that were over 50% but not 100%.
