Republic Airlines Flight Attendants to Receive Equity Stake

A thousand employees of Republic Airways Holdings and its Frontier Airlines subsidiary will soon receive an ownership stake in the company. The Association of Flight Attendants-CWA approved a new collective bargaining agreement.

Republic Engineered Steels to Go Public

Republic Engineered Steels, one of the nation's largest majority employee owned firms, will soon do a public offering. The 5,000-employee company was saved from closing by an employee buyout and has since returned to profitability on an operating basis.

Republican Platform Supports ESOPs

On July 18, the Republican Party adopted its 2016 platform, which includes this language: "Republicans believe that the employer-employee relationship of the future will be built upon employee empowerment and workplace flexibil

Republican Tax Reform Proposal and Stock Plans

David Camp (R-Michigan), the chairman of the House Ways and Means Committee, introduced a thousand-page "discussion draft" of his comprehensive proposal on tax reform.

Republicans Attack ESOPs Again; President Reiterates Support

House Republicans have led an effort to repeal section 133 of the Internal Revenue Code, which allows lenders to exclude 50% of the interest income they receive on loans to certain ESOPs owning over 50% of a company's shares.

Repurchase Not Major Driver of ESOP Plan Termination

A new research project on ESOP terminations, performed by the NCEO and funded by the Employee Ownership Foundation, collected data from 23 large ESOP plan administration firms. They reported results from over 3,300 companies.

Repurchase Obligation and Accounting: No Change in Offing

Speaking at a recent NCEO Webinar, Rebecca Miller of McGladrey & Pullen said that the Financial Accounting Standards Board has shelved its project on whether the ESOP repurchase obligation should show up as a liability on the balance sheet.

Research Factlet

Distributions from all ESOPs from 2002 to 2014 totaled nearly $880 billion ($879,791,547,549).