A new survey from Hewitt Associates, Hot Topics in 401(k) Plans, indicates that that 38% of 300 large public companies surveyed use company stock as a match to 401(k) deferrals, and 86% restrict diversification of those contributions.
A new report by Nari Rhee and Ilana Boivie for the National Institute for Retirement Security says that 45% of working-age households have no assets in retirement accounts.
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.
Mark Cuban, the billionaire entrepreneur who founded two companies and is a regular on the television show Shark Tank, said, "We as entrepreneurs have got to make a point to give stock to everybody that works for us. Period. End of story.
Mark R. Lomele, senior vice president and chief financial officer of Recology, located in San Francisco, California, has been elected to serve as the chair of the ESOP Association, a national trade association for companies with ESOPs.
On April 20, Harvard economist Richard Freeman spoke with the NPR show Marketplace, where he discusses why increasing automation means that more people should become employee-owners.
In the September 13 article "Workers would get dividends and voting power under this radical profit sharing idea," MarketWatch's Jonathan Burton ran a story about
Marriott International, Inc. reached a settlement in an investigation of its ESOP by the IRS and Department of Labor. The government alleged that Marriott's leveraged ESOP resulted in unwarranted tax deductions.
A bill introduced in the Maryland House (H.B. 204) would exempt from taxes a portion of income from a transfer of stock in a corporation or LLC to employees.
