Qualcomm has settled a lawsuit with former employees whose division was sold to Ericsson. The employees contended that the terms of the sale failed to provide them with all the benefits their option plan had promised. The settlement will provide 840 employees with $11 million.
U.S. District Court Judge James Rosenbaum has indicated he might want to review the settlement between former UnitedHealth CEO William McGuire and the SEC and a special UnitedHealth litigation committee.
New data from Aon Consulting's Radford Surveys + Consulting shows that 48% of 103 companies that have conducted options exchanges since 2005 have used options for options exchanges, 36% options for stock (usually a form of restricted shares), 13% a options for cash, and 3% a combination.
ESOP-owned Brookshire Brothers, a retail food and pharmacy in Lufkin, Texas, sponsored a charity golf venture that raised $100,000 for nonprofit organizations in Angelina County, Texas.
When C.M Fisher founded Ramsey National Bank in 1892, his starting capital came from the sale of land that had increased in value when the Great Northern Railroad was constructed.
Congressman James Ramstad (R-MN) and Senator Donald Breaux (D-AL) have introduced legislation (HR 3082 and S 1732) designed to curb abuses of the S corporation ESOP law. The proposal builds on a similar bill that was in the tax bill President Clinton vetoed.
Congressman Charles Rangel (D-NY) has proposed taxing synthetic equity at exercise in S corporation ESOPs in a way that would reflect their share of the foregone corporate taxes attributable to the ESOP as income. Interest would be charged on any resulting underpayment for the period.
In response to Iowa Governor Terry Branstad's January announcement that promoting employee ownership would be one of his administration's top three economic goals, ESOPs seem to be gathering increased press coverage, with legislators endorsing his call and well-known local ESOP companies appearin
Because New Belgium Brewing has been one of the best-known employee-owned companies in the United States, its prospective sale to the Japanese brewing conglomerate Kirin has provoked many reactio