The ESOP Association Blog

Covering ESOPs and employee ownership

NEWS: Cindy Turcot Elected Chair of The ESOP Association – Mark R. Lomele to Become Chair of the Employee Ownership Foundation

The ESOP Association and the Employee Ownership Foundation sent out the following releases today.

esop-logo-large1.jpgFor Immediate Release: May 1, 2015

Cindy Turcot Elected Chair of The ESOP Association

Members Installed to Board Positions

May 1, 2015 (Washington, DC) – Cindy Turcot, Chief Operating Officer of Gardener’s Supply Company located in Burlington, Vermont, has been elected to serve as Chair of The ESOP Association. The ESOP Association is the national trade association for companies with employee stock ownership plans (ESOPs) and the leading voice in America for employee ownership.

Ms. Turcot is an active member of The ESOP Association and the Association’s New England Chapter. She has served on The ESOP Association’s Board as Vice Chair for the last two years. Her term as Chair begins May 1, 2015 and will continue until April 30, 2017.

“Cindy has been active in the ESOP community and with the Association for many years,” said ESOP Association President, J. Michael Keeling. “Her contributions have increased the effectiveness of Association services and we are excited Cindy will be the Chief Elected Officer of the Association and the primary driver of the Association’s mission to advocate and educate for employee ownership for the next two years.”

In addition to Ms. Turcot’s election to Chair: David Fitz-Gerald, Vice President & CFO, Carris Reels, Inc., Proctor, Vermont will become Vice Chair; Raman Venkat, Office of the CEO/CFO, LeFiell Manufacturing Company, Santa Fe Springs, California will become Secretary/Treasurer; David L. Kelly, Vice President & Chief Financial Officer, Acadian Ambulance Service, Inc., Lafayette, Louisiana will become Immediate Past Chair. Mark R. Lomele, Senior VP & CFO, Recology, San Francisco, California will become Chair of the Employee Ownership Foundation. Joining the Association’s Board as At-Large Board Members representing corporate members: Cindy Lewis, President/CEO, AirBorn, Inc., Georgetown, Texas and Michael Willard, CEO, Salem Distributing Company, Inc., Winston Salem, North Carolina. Joining the Board as an At-Large Board Member representing a professional member: Linshuang Lu, Consultant, Praxis Consulting Group, Inc., Philadelphia, Pennsylvania. Returning Board Members: Tony Lessmeister, Manager/Integration & Configuration Center, Forsythe Technology, Inc., Skokie, Illinois, Chair of the State and Chapter Regional Council; Peter J. Shuler, Manager, Crowe Horwath LLP, Columbus, Ohio, Chair of the Advisory Committees Chairs Council.

The Board of Directors is the premier governing body of The ESOP Association. Seven members of its ten person Board of Directors are elected by the Association’s Board of Governors who are elected by Association members.

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FoundationFor Immediate Release: May 1, 2015

Mark R. Lomele Elected Chair of the Employee Ownership Foundation

May 1, 2015 (Washington, DC) – The Employee Ownership Foundation announced today that Mark R. Lomele, Senior Vice President and Chief Financial Officer of Recology located in San Francisco, California, will take over as the new Chair of the Foundation. The Employee Ownership Foundation is a 501(c)(3) Foundation dedicated to promoting employee ownership and is an affiliate of The ESOP Association, a national trade association for employee owned companies.

Effective May 1, 2015, Mr. Lomele will take the wheel from outgoing Chair Frieda S. Takaki, President and Chief Executive Officer of CHART Rehabilitation of Hawaii, Inc. located in Honolulu, Hawaii who served as Chair of the Employee Ownership Foundation for the past four years. Ms. Takaki will become the Immediate Past Chair of the Employee Ownership Foundation.

Mr. Lomele is active in the California/Western States Chapter of The ESOP Association and has served in several leadership positions as a member of The ESOP Association. He has been very active as a Foundation Trustee and from 2011– 2013, Mr. Lomele served as Chair of The ESOP Association.

“We are excited Mark will be taking over as Chair of the Employee Ownership Foundation,” said J. Michael Keeling, President of the Employee Ownership Foundation. “He is a dynamic leader with new ideas to lead the Foundation forward.”

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The Employee Ownership Foundation supports research, education, and public awareness of programs that will increase the level of understanding and appreciation of the benefits of employee ownership and increase the number of employees who have access to this benefit. For more information: http://www.employeeownershipfoundation.org. The Employee Ownership Foundation is The ESOP Association’s affiliated 501 (c)(3) organization dedicated to promoting employee ownership.

The ESOP Association is the national trade association for companies with employee stock ownership plans (ESOPs) and the leading voice in America for employee ownership. The core cause of The ESOP Association is the belief that employee ownership will improve American competitiveness, increase productivity through greater employee participation, and strengthen our free enterprise economy. More information: website – www.esopassociation.org and blog – www.esopassociationblog.org.

More Information:

Amy Gwiazdowski

202/293-2971

amy@esopassociation.org

@ESOPAssociation

Filed under: Employee Ownership Foundation, TEA Members,

NEWS: Pro-ESOP Bill, H.R. 2096, Introduced in House

The ESOP Association sent out the following release this morning.

esop-logo-large1.jpgFor Immediate Release: April 30, 2015

Pro-ESOP Bill, H.R. 2096, Introduced in House

April 30, 2015 (Washington, DC) – The ESOP Association expresses strong support for H.R. 2096, introduced on April 29, 2015 by Congressmen David G. Reichert (R-WA), Ron Kind (D-WI), Pat Tiberi (R-OH), Richard E. Neal (D-MA), Erik Paulsen (R-MN), Earl Blumenauer (D-OR), Charles W. Boustany, Jr. (R-LA), and Bill Pascrell, Jr. (D-NJ).

H.R. 2096 would amend the Internal Revenue Code of 1986 and the Small Business Act to expand the availability of employee stock ownership plans (ESOPs) in S corporations in America.

“Research proves that ESOPs are more profitable, more productive, and provide sustainable jobs. We need policies to encourage employee stock ownership, and the proposed policies in H.R. 2096, should address core social issues such as adequate retirement security and making sure working Americans have an ownership stake in our capitalistic system,” stated ESOP Association President, J. Michael Keeling.

Keeling continued, “It is extremely pleasing to see this bi-partisan group of members of the House Ways and Means Committee stand up for employee stock ownership through ESOPs. The ESOP Association notes its appreciation for these members who have joined in support of employee ownership and taken the lead to address issues that relate to increasing ownership shares among average pay Americans.”

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The ESOP Association is the national trade association for companies with employee stock ownership plans (ESOPs) and the leading voice in America for employee ownership. The core cause of The ESOP Association is the belief that employee ownership will improve American competitiveness, increase productivity through greater employee participation, and strengthen our free enterprise economy. More information: website – www.esopassociation.org and blog – www.esopassociationblog.org.

More Information:

Amy Gwiazdowski

202/293-2971

amy@esopassociation.org

@ESOPAssociation

Filed under: Government Affairs, ,

Congratulations to the 2015 Chapter Award Winners

With the Association’s 38th Annual Conference (and the 24th Annual Awards Ceremony on the evening of May 6th!) quickly approaching, we want to take a moment to congratulate the 2015 Chapter award winners. Following are the Employee Owner of the Year Chapter winners and the ESOP Company of the Year Chapter winners.

Congratulations to this year’s Chapter award winners!

2015 Employee Owner of the Year Chapter Winners

California/Western States Chapter Lauri Veverka, Entertainment Partners, Burbank, CA

Carolinas ChapterJennifer Weitzel, Salem Distributing Company, Inc., Winston-Salem, NC

Heart of America Chapter Curt Wardlow, Burns & McDonnell, Kansas City, MO

Indiana Chapter Lydia Anderson, Worm’s Way, Inc., Bloomington, IN

Iowa/Nebraska ChapterTim Williams, Precision Pulley & Idler (PPI), Pella, IA

Michigan Chapter Fred Bobo, Thomson-Shore, Inc., Dexter, MI

Mid-Atlantic Chapter Carol Moore, Wiley|Wilson, Lynchburg, VA

Minnesota/Dakotas Chapter Nicole Worms, Hisco, Rogers, MN

New England Chapter James Lamond, Rex-Cut Abrasives, Fall River, MA

New South ChapterKatherine Louthan, White Electrical Construction Company, Atlanta, GA

Ohio/Kentucky Chapter Jessica Donley, CTL Engineering, Inc., Columbus, OH

Pennsylvania/Delaware ChapterMatt Pfeiffenberger, Murray Securus, Lancaster, PA

Southwest ChapterScott Johnson, Acadian Ambulance Service, Inc., Lafayette, LA

 

2015 ESOP Company of the Year Chapter Winners

California/Western States Chapter LeFiell Manufacturing Company, Santa Fe Springs, CA

Carolinas ChapterCCI – Computer Credit, Inc., Winston-Salem, NC

Heart of America Chapter McCarthy Holdings, Inc., Saint Louis, MO

Illinois Chapter Shorr Packaging Corp., Aurora, IL

Indiana Chapter Opportunities for Positive Growth, Inc., Fishers, IN

Iowa/Nebraska Chapter Travel and Transport, Inc., Omaha, NE

Michigan Chapter Axios Incorporated, Grand Rapids, MI

Mid-Atlantic Chapter ComSonics, Inc., Harrisonburg, VA

Minnesota/Dakotas ChapterDiversified Plastics, Inc., Minneapolis, MN

New England Chapter Moody’s Collision Centers, Gorham, ME

New Jersey/New York ChapterSynergy Global Solutions, Victor, NY

New South ChapterGeographic Information Services, Inc., Birmingham, AL

Ohio/Kentucky Chapter Luckett & Farley, Louisville, KY

Pennsylvania/Delaware ChapterOmni Cable, West Chester, PA

Southwest Chapter Gemini Industries, Inc., El Reno, OK

Wisconsin ChapterHatco Corporation, Milwaukee, MN

 

The ESOP Awards are presented at the Annual Awards Ceremony which takes place the evening before the start of the Annual Conference. Each year, the Association names an ESOP Company of the Year and an Employee Owner of the Year. The ESOP Company of the Year and the Employee Owner of the Year are nominated by the Association’s Chapters which is how they become eligible for the national awards. The 2015 AACE Award winners and 2015 Silver ESOP Award recipients will also be honored at the Awards Ceremony in addition to Chapters that have done extraordinary work throughout the year.

 

Filed under: Chapter News, Conference Information,

May & June Calendar of Events

Following is a list of ESOP Association Chapter and national ESOP events taking place in May and June 2015. Additional events can be found on the calendar.

May 2015

38th Annual ESOP Conference & 24th Awards Ceremony

May 7 & 8, 2015
(Awards Ceremony May 6th)
38th Annual ESOP Conference & 24th Annual Awards Ceremony
“ESOPs: Creating Our Destiny”
Renaissance Washington Hotel Washington, DC

Contact Rosemary Clements or Maya Van Buren at (202) 293-2971 or meetings@esopassociation.org

Preliminary Agenda (4/16/2015)
Sponsorships Available (3/19/2015)
Registration Form (print pdf) 
The Monument Tour on May 7 is SOLD OUT

Click to register

 

 

Northwest Chapter – Retreat for Senior Managers (Bend, OR)

May 19, 2015
Northwest Chapter
2015 Retreat for Senior Managers
This program is designed for Senior Managers (i.e. President, CEO, CFO).
Hosted at Deschutes Brewery
901 SW Simpson Ave
Bend, OR 97702
Click to register
For more information Northwest Chapter Administrative Office at 916-634-4201 for assistance.

 

June 2015

Wisconsin Chapter – “The Year of the All Star ESOP” WIESOP Summer Roundtables and Timber Rattlers Ball Game (Appleton, WI)

June 1, 2015
Wisconsin Chapter
“The Year of the All Star ESOP” WIESOP Summer Roundtables & Ball Game
2015 WIESOP Roundtables and Ball Game Agenda

Roundtables:
Wingate by Wyndham Appleton
1565 N Federated Drive
Appleton, WI   54913

Ball Game:
Timber Rattlers
Fox Cities Stadium
2400 N. Casaloma Drive,
Appleton, WI
Click to register
Wisconsin Chapter 2015 Summer Roundtables Printable Registration Form
For more information contact Donna Walseth at dwalseth@esopexec.org or 763.785.4122
2015 Wisconsin Chapter Sponsorship Form
Mid Atlantic Chapter 2015 CEO & CFO Roundtable (Springfield, VA)

June 3, 2015
Mid Atlantic Chapter
2015 Mid Atlantic Chapter – CEO & CFO Roundtable
MidSouth Building Supply, Inc.
7940 Woodruff Court
Springfield, VA  22151
Click to register
Print Registration Form (pdf)
For more information contact Shelly Dennis at sdennis@esopexec.org or (603) 756-3441

 

Illinois Chapter – 10th Annual EOF Golf Outing (Bloomingdale, IL)

June 4, 2015
Illinois Chapter
10th Annual Illinois Chapter EOF Golf Outing Brochure – Bloomingdale, IL
Bloomingdale Golf Club
181 Glen Ellyn Road
Bloomingdale, IL  60108
For more information contact Donna Walseth at dwalseth@esopexec.org or 763.785.4122

 

2015 Super Regional Board of Directors & Trustee Conference – New England, NY/NJ, and PA/DE Chapters (Rochester, NY)

June 9-10, 2015
New England, NY/NJ, & PA/DE Chapters
2015 Super Regional Board of Directors & Trustee Conference
Rochester Airport Marriott
1890 Ridge Road West
Rochester, NY 14615
Click to register
2015 Super Regional Printable Registration Form

2015 Super Regional Conference Sponsorship Form – Rochester, NY

For more information contact Shelly Dennis at sdennis@esopexec.org or 603.756.3441

 

New England Chapter – 2015 Annual Planning Day (Framingham, MA)

June 16, 2015
New England Chapter – 2015 Annual Planning Day
Sheraton Framingham
1657 Worcester RD
Framingham, MA 01701

For more information contact Shelly Dennis at sdennis@esopexec.org – 603.756.3441

 

Ohio / Kentucky & Indiana Chapters – 14th Annual Tri-State ESOP Conference (Louisville, KY)

June 18, 2015
Ohio / Kentucky & Indiana Chapters
Crowne Plaza Louisville Airport Hotel
830 Phillips Lane
Louisville, KY  40209

For more information contact Karrie Imbrogno at karrie@esopchapters.com or 440.989.1552

 

Minnesota/Dakotas Chapter – Summer Chapter Meeting (Fargo, ND)

June 18, 2015
Minnesota/Dakotas Chapter
2015 Summer Chapter Meeting – Fargo
Hilton Garden
Fargo, ND
CEO, CFO, and HR Roundtables will also be held at this conference.
For more information contact Sue Crockett at scrockett@esopexec.org or 612.872.4375

Filed under: Chapter News, Conference Information, Member Services,

Ready Your Bids – Foundation to Hold Silent Auction at the 38th Annual Conference

Foundation

On May 7 & 8, 2015, the Employee Ownership Foundation will hold a silent auction at The ESOP Association’s 38th Annual Conference in Washington, DC to benefit the Foundation and to support Foundation programs that aim to increase awareness of employee ownership in America.

The list of auction items so far:

  • Eileen Fisher $250 Gift Card
  • Gift Card from Dansko, Inc.
  • Two Gift Baskets from Superior Farms
  • BEATS Speaker
  • BEATS Adaptive Noise Cancelling Headphones
  • $200 Gift Certificate from Gardener’s Supply Co.
  • Gift Basket from The King Arthur Flour Company
  • Gift Basket from New Belgium Brewing Company, Inc.
  • Gift Basket from Harpoon Brewery
  • FitBit
  • Wine Glasses from Mountain Hardware

Come prepared to bid on a favorite prize and support the Foundation and employee ownership in America!

More information as well as Conference registration can be found here.

Join us Washington, DC for a celebration of employee ownership!

Filed under: Conference Information, Employee Ownership Foundation, ,

2015 AACE Awards Mission

Join The ESOP Association, and employee owners from across the US, in celebrating the 2015 AACE Award winners.

24th Annual Awards Ceremony – May 6, 2015

38th Annual Conference – May 7 – 8, 2015

Conference information

 

Filed under: AACE - Annual Awards for Communications Excellence, Conference Information

The ESOP Association Signs Savings and Investment Working Group Letters Regarding Tax Reform

As a member of the Coalition to Protect Retirement (CPR), The ESOP Association recently signed on to a group letter that was sent to the Senate Finance Committee’s Savings and Investment Working Group. The letter commended the Finance Committee for their work to reform the tax code and noted that “Congress should encourage retirement savings for American workers though the preservation of current tax incentives.”

The mission of the CPR is to encourage and support retirement savings for American workers through the preservation of tax incentives critical to American workers’ retirement security. The Association is one of ten members of the Coalition.

In addition to the letter from the CPR, the Association, as a member of the Retirement Savings Network, signed on to another letter that will be sent to the Working Group on Savings and Investment as well. The letter notes that “Eliminating or diminishing the current tax treatment of employer-provided retirement plans and individual savings arrangements would jeopardize the retirement security of tens of millions of American workers, impact the role of retirement assets in the capital markets, and create challenges in maintaining the quality of life for future generations of retirees.”

As noted earlier on this blog, The ESOP Association also submitted comments to Senate Working Groups regarding comprehensive tax reform.

On March 25, 2015, The ESOP Association submitted comments on comprehensive tax reform to three of the Senate Committee on Finance’s Tax Reform Working Groups: Savings & Investment, Individual Income Tax, and Business Income Tax. The Association specifically stated how employee stock ownership plans (ESOPs) are in accord with the seven principles outlined by Finance Committee Chair Orrin Hatch (R-UT) for comprehensive tax reform — Economic Growth, Fairness, Simplicity, Permanence, Competitiveness, Promoting Savings and Investments, and Revenue Neutrality.

As noted by ESOP Association President, J. Michael Keeling: “Current ESOP tax policy should be viewed with objectivity and considered fairly during the process. As ESOPs meet, and exceed, the seven principles outlined by Senator Hatch for comprehensive tax reform, we feel it is reasonable to ask that ESOP laws to promote the creation and operation of employee-owned companies be preserved, and expanded.” He went on to say, “Research proves that employee-owned companies provide more sustainable employment and preserve locally-controlled jobs in today’s global economy. We need to encourage broad-based, inclusive capitalism and increase employee ownership to ensure sustainable employment for U.S. workers, and more income for average pay employee owners.”

Read the full statements on The ESOP Association’s website.

Filed under: Government Affairs, ,

April 2015 ESOP Report is Available

The April 2015 ESOP Report newsletter is now available for members. To access this month’s issue, you’ll need to sign into The ESOP Association’s website. The Member Sign In button is located at the top of the page.

To get to the ESOP Report, click Meet & Learn. A link to the ESOP Report is located on the left side menu.

April2015ESOPReportCOVERsmall

 

Filed under: Publication, ,

RELEASE: The ESOP Association Announces 2015 Silver ESOP Award Recipients

The following release was sent out by The ESOP Association today. Congratulations to all 2015 Silver ESOP Award Recipients.

For Immediate Release: April 15, 2015

The ESOP Association Announces 2015 Silver ESOP Award Recipients

April 15, 2015 (Washington, DC) – The ESOP Association has presented 48 corporate members of the Association with a Silver ESOP Award to recognize their work in sustaining their ESOP (employee stock ownership plan) for 25 years or more. This year, the Silver ESOP Awards are being presented to companies that will be celebrating 25 years or more as an ESOP company in 2015.

This is the eighth year the Silver ESOP Awards have been presented by the Association. In 2008, 117 corporate members were presented with the first annual Silver ESOP Awards; 2009, 12 members; 2010, 22 members; 2011, 41 members; 2012, 49 members; 2013, 26 members; and in 2014, 45 members were honored. To be named a Silver ESOP Award recipient, a company must be a member of The ESOP Association and have an ESOP in place for 25 years or more.

“It is my pleasure to present the following 48 ESOP companies with the 2015 Silver ESOP Award for excellence in sustaining their ESOP for 25 years,” said ESOP Association President, J. Michael Keeling. “Research proves that employee owned companies provide more sustainable employment and preserve locally-controlled jobs in today’s global economy. The 300 plus Silver ESOP companies who are members of the Association prove that employee stock ownership through the ESOP is not a short-term corporate model.”

2015 Silver ESOP Award Recipients:

Acme Rigging & Supply Co., Inc., Ukiah, CA

Alpine Lumber Company, Westminster, CO

Ankrom Moisan Architects, Inc., Portland, OR

Aubrey Silvey Enterprises, Inc., Carrollton, GA

AVI Systems, Inc., Lenexa, KS

Barkley, Kansas City, MO

Cactus Feeders, Inc., Amarillo, TX

Carbo Forge, Inc., Fremont, OH

Cellusuede Products, Inc., Rockford, IL

Central Bag Company, Leavenworth, KS

Consulting Engineers Group, Inc., Mount Prospect, IL

CSR, Incorporated, Arlington, VA

Dealers Electrical Supply Co., Waco, TX

Dental Health Services, Inc., Long Beach, CA

Diamond Saw Works, Inc., Chaffee, NY

Dynetics, Inc., Huntsville, AL

ESOP of People’s Bank and Trust Co., Byrdstown, TN

First State Bancorp of Monticello Inc., Monticello, IL

Hainje’s, Inc., Brewton, AL

Hanson Group, Inc., Springfield, IL

Hoffman & Hoffman, Inc., Greensboro, NC

Hyspeco, Inc., Springfield, MO

ICM, Inc., Jacksonville, AR

Kapco Global, Brea, CA

Keenan Energy Company, Columbia, SC

Kleinfelder, Inc., Oakland, CA

Lesman Instrument Company, Bensenville, IL

Los Alamos National Bank, Los Alamos, NM

Lumbermen’s, Inc., Grand Rapids, MI

Marco, Saint Cloud, MN

Market Contractors, LTD., Portland, OR

McCreary Bancshares, Inc., Whitley City, KY

McLean Contracting Company, Glen Burnie, MD

Moss Engineering Corp., Fort Wayne, IN

Olum’s of Binghamton, Inc., Vestal, NY

Parksite Inc., Batavia, IL

Plastic Products Company, Inc., Lindstrom, MN

Rapid Line Inc., Grand Rapids, MI

Saginaw Bay Underwriters, Saginaw, MI

Spirol International Holding Company, Danielson, CT

TDIndustries, Inc., Dallas, TX

Tecolote Research, Inc., Goleta, CA

The Feingold Companies, Worcester, MA

The Plastic Forming Company, Inc., Woodbridge, CT

TriMark Corporation, New Hampton, IA

United States Sugar Corporation, Clewiston, FL

Watkins Ross & Company, Grand Rapids, MI

Your Building Centers, Inc., Altoona, PA

Over 300 Silver ESOP Award recipients will be honored at The ESOP Association’s Annual Conference in May (May 7 – 8, 2015) and highlighted at the 24th Annual Awards Ceremony held on the evening of May 6th.

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The ESOP Association is the national trade association for companies with employee stock ownership plans (ESOPs) and the leading voice in America for employee ownership. The core cause of The ESOP Association is the belief that employee ownership will improve American competitiveness, increase productivity through greater employee participation, and strengthen our free enterprise economy. More information: website – www.esopassociation.org and blog – www.esopassociationblog.org.

 

More Information:

Amy Gwiazdowski

202/293-2971

amy@esopassociation.org

@ESOPAssociation

Filed under: Silver ESOP Awards, TEA Members,

Entrepreneur Magazine Tackles ESOPs

Tony Robbins, author of the new book, Money: Master the Game, was recently featured in Entrepreneur magazine talking about ESOPs. The article: The Tax Saving Tool You’re Not Using can be found here.

It’s a great piece on the use of ESOPs for small to mid-sized companies and the value an ESOP can bring to a company.

Filed under: News Links,

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