The ESOP Association Blog

Covering ESOPs and employee ownership

ESOP News Highlights

We’d thought we’d share an article in the Minneapolis Star Tribune that highlighted two ESOP Association members: Christensen Group Insurance and Windings Inc.

St. Anthony: Employee ownership can be a winning formula

Also, Dr. Joseph Blasi’s op-ed in the Los Angeles Times is also worth a read.

If Democrats really want to address inequality, they need new ideas

Enjoy this Wednesday reading.

Got an interesting article to share, drop us an email, media AT esopassociation.org.

Filed under: Employee Ownership Message, , ,

Congressional Visits

While in DC for the Annual Conference, May 8 & 9, many Association members made visits to their Congressional offices to discuss the value of employee ownership. Some even met up with members of Congress at the airport. Lesson: never pass up the chance to talk ESOP! We’ll be sharing photos below. If you have photos of a Congressional visit, please send it to media AT esopassociation.org. We’ll try to include the information in an upcoming issue of the ESOP Report and on the Association’s Blog.

Thanks to our members for their work to promote ESOPs and employee ownership in America.

Members of the California/Western States Chapter visiting Capitol Hill during the Annual Conference.

Members of the California/Western States Chapter visiting Capitol Hill during the Annual Conference.

Members of the California/Western States Chapter visiting Capitol Hill during the Annual Conference.

Members of the California/Western States Chapter visiting Capitol Hill during the Annual Conference.

New South Chapter members visited the offices of Alabama Senators Jeff Sessions (R-AL) and Richard Shelby (R-AL) during the Annual Conference in Washington, DC. New South Chapter Government Relations Chair, Karan Christopher of McCord Communications, scheduled the appointments with the Senators’ staff members and other Chapter members joined her to share their ESOP story. The visits were successful and opened up the door for future Congressional visits to ESOP companies in the state of Alabama.   Left to right: Ed Ilano (Swerdlin & Company), Jodi Lamb (Big G Express), Andy Dickerson (McCord Communications), Karan Christopher (McCord Communications), Teresa Crosslin (Big G Express).

New South Chapter members visited the offices of Alabama Senators Jeff Sessions (R-AL) and Richard Shelby (R-AL) during the Annual Conference in Washington, DC. New South Chapter Government Relations Chair, Karan Christopher of McCord Communications, scheduled the appointments with the Senators’ staff members and other Chapter members joined her to share their ESOP story. The visits were successful and opened up the door for future Congressional visits to ESOP companies in the state of Alabama.
Left to right: Ed Ilano (Swerdlin & Company), Jodi Lamb (Big G Express), Andy Dickerson (McCord Communications), Karan Christopher (McCord Communications), Teresa Crosslin (Big G Express).

From left to right: Congressman Joe Courtney (D-CT), Congressman John B. Larson (D-CT), Steve Sabourin, GM of Carris Reels in Enfield, CT, and Congressman Richard E. Neal (D-MA). In an email from Steve Sabourin of Carris Reels:  “This was a great chance meeting at the airport after visiting Congressman Neal the day before.  Congressman Neal said he loved the way we do things.  I asked him what he meant.  Basically, he loved that employee owners were making visits.  I am guessing he sees this as better than a top exec or a lobbyist.”

From left to right: Congressman Joe Courtney (D-CT), Congressman John B. Larson (D-CT), Steve Sabourin, GM of Carris Reels in Enfield, CT, and Congressman Richard E. Neal (D-MA).
In an email from Steve Sabourin of Carris Reels:
“This was a great chance meeting at the airport after visiting Congressman Neal the day before. Congressman Neal said he loved the way we do things. I asked him what he meant. Basically, he loved that employee owners were making visits. I am guessing he sees this as better than a top exec or a lobbyist.”

Northwest Chapter President, Judy Lippel, Sletten, Inc., with Montana members of Congress on Capitol Hill:  Senator Jon Tester (D-MT), Congressman Steve Daines (R-MT) and Senator John E. Walsh (D-MT).

Northwest Chapter President, Judy Lippel, Sletten, Inc., with Montana members of Congress on Capitol Hill: Senator Jon Tester (D-MT), Congressman Steve Daines (R-MT) and Senator John E. Walsh (D-MT).

New England Chapter members visit with Congressman Richard E. Neal (D-MA).

New England Chapter members visit with Congressman Richard E. Neal (D-MA).

Illinois Chapter members visit with Congresswoman Robin Kelly (D-IL).

Illinois Chapter members visit with Congresswoman Robin Kelly (D-IL).

Illinois Chapter members visit with Congressman Brad Schneider (D-IL).

Illinois Chapter members visit with Congressman Brad Schneider (D-IL).

Filed under: Government Affairs, TEA Members, , , ,

SEL Employee Owners Share Experiences with Illinois Congressman

On June 5, 2014, Schweitzer Engineering Laboratories, Inc. (SEL) employee owners shared their perspectives on company ownership with Congressman Peter Roskam (R-IL) when he visited the company’s Fault Indicator and Sensor Division in Lake Zurich, Illinois.

This is Congressman Roskam’s second visit to SEL’s Lake Zurich facility. Last year, the Congressman toured the manufacturing floor and learned about SEL and the products and services it provides for power systems around the world. This time he watched a distribution automation smart grid demonstration and spoke with some of the 95 employee owners about the company’s ESOP.

Senior Manufacturing Supervisor Jose Perez, who has been with the company for nearly 25 years, said when SEL became employee-owned he went from just having a job to being an owner. Human Resources Generalist Linda Coleman, an employee for more than 29 years, noted she works with happier people in an employee-owned company, calling the retirement security “a blessing.”

Congressman Roskam indicated his strong support for ESOPs, which can help employees save for retirement, and Roskam encouraged those in attendance to continue talking about the benefits of ESOPs with their coworkers.

Thanks to SEL for sharing this news with the Association.

SEl Roskam visit

Filed under: Government Affairs, TEA Members, , , ,

The ESOP Association’s Outside Board Registry

As a member service, The ESOP Association maintains an Outside Board Registry. This registry is a list of potential board members knowledgeable about and familiar with ESOPs and employee ownership.

Members of The ESOP Association can be listed free of charge in the registry. To be listed, participants must be employed at or retired from a current ESOP Association member company, or be a current member of the Association in any member category. There is no charge for the registry if requested by a member of the Association.

If you would like to be included in this registry, contact Sharon Spencer at Sharon AT esopassociation.org.

The registry can be found on The ESOP Association’s website under Network. To access the information, you will need to login. The member login is at the top of the page. The Outside Board Register is a member service provided by The ESOP Association.

Filed under: Member Services, Publication, TEA Members, , , ,

The ESOP Association Announces 2014 Silver ESOP Award Recipients

The ESOP Association sent out the following release this morning announcing the 2014 Silver ESOP Award Recipients. We’re sharing with readers here. Congratulations to all 2014 recipients.

For Immediate Release: April 16, 2014

For More Information: Amy Gwiazdowski, 202/293-2971, amy AT esopassociation.org

The ESOP Association Announces 2014 Silver ESOP Award Recipients

April 16, 2014 (Washington, DC) – The ESOP Association has presented 45 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 2014.

This is the seventh 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; and in 2013, 26 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 these 45 ESOP companies with the 2014 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.”

2014 Silver ESOP Award Recipients:

Accutrex Products, Inc., Canonsburg, PA

AGM Container Controls, Inc., Tucson, AZ

Allen Insurance and Financial, Camden, ME

American Technical Publishers, Inc., Orland Park, IL

Atlantic Track & Turnout Company, Bloomfield, IN

Avery W. Hall Insurance Agency, Inc., Salisbury, MD

Chesapeake Financial Shares, Inc., Kilmarnock, VA

Citizens Telephone Company of Higginsville, Higginsville, MO

Cleaves-Bessmer-Marietti, Inc., Kansas City, MO

Delta Star, Inc., Lynchburg, VA

Diversified Industrial Capital Group, Inc., Cincinnati, OH

ESOP Services, Inc., Scottsville, VA

Financial Corp. of LA, Crowley, LA

First Citizens Bankshares, Waxahachie, TX

Floturn, Inc., Fairfield, OH

H & G Sales, Inc., Saint Louis, MO

Harps Food Stores, Springdale, AR

Houchens Industries, Inc., Bowling Green, KY

J. F. White Contracting Company, Framingham, MA

Johnson Supply, Houston, TX

Leighton Enterprises, Inc., Saint Cloud, MN

Mattern & Craig, Inc., Roanoke, VA

McBride & Son Companies, Inc., Chesterfield, MO

McGarvin-Moberly Construction Company, Worland, WY

Morley Builders, Santa Monica, CA

Morrow Insurance Agency, Inc., Hendersonville, NC

Moss Engineering Corp., Fort Wayne, IN

National Wire & Cable Corporation, Los Angeles, CA

NCM Associates, Inc., Shawnee Mission, KS

Newton Manufacturing Company, Newton, IA

NTH Consultants, Ltd., Northville, MI

Ollis & Company, Springfield, MO

ParEn, Inc. Dba Park Engineering, Honolulu, HI

Physical Sciences Inc., Andover, MA

Plastic Products Company, Inc., Lindstrom, MN

Pleune Service Company, Grand Rapids, MI

SC2 Inc., Peoria, IL

Scicom Data Services, Minnetonka, MN

SECHAN Electronics, Inc., Lititz, PA

Southeast Power Systems, Inc., Orlando, FL

SPS Companies, Inc., Minneapolis, MN

The Bank NA, McAlester, OK

Tunnell Consulting, Inc., King of Prussia, PA

Unette Corporation, Randolph, NJ

Vigo Coal Company, Inc., Evansville, IN

All 312 Silver ESOP Award recipients will be honored at The ESOP Association’s Annual Conference in May (May 8 – 9, 2014) and highlighted at the 23rd Annual Awards Ceremony held on the evening of May 7th.

###

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.

Filed under: Silver ESOP Awards, TEA Members, ,

Congressman Ron Kind Visits ESOP Company, W.A. Roosevelt

On February 13, 2014, Congressman Ron Kind (D-WI) was on site to visit W.A. Roosevelt in La Crosse, WI. Congressman Kind spent an hour at the company meeting employee owners and spending time with members from the company’s ESOP committee. W.A. Roosevelt is a leading distributor of quality plumbing, electric, refrigeration, and heating and air conditioning equipment & supplies.  W.A. Roosevelt is a division of Dakota Supply Group, a member of The ESOP Association.

Kind WA Roosevelt 1

Kind WA Roosevelt 2

Filed under: Employee Ownership Message, Government Affairs, Member Services, TEA Members, , , ,

ESOP Company News

We thought we’d share news from our members this week. To start this week off, a note from ESOP Association member, Hypertherm.

In January 2014, Hypertherm, Inc. announced its transition from being a minority owned ESOP to a 100% associate-owned ESOP.  King Arthur Flour, a neighboring 100% employee-owned ESOP, sent us a token of congratulations. See below.

KAF Photo

The Associates at Hypertherm thank our friends at King Arthur Flour – Your company and its employee owners are a class act!

Thanks to Carey Chen, VP / GM – Light Industrial Businesses & CIO of Hypertherm, Inc. for sharing this news with us. And, congratulations to the employee owners of Hypertherm!

If you have company news to share, please send an email to media AT esopassociation.org with information and photos. We’ll include as many member posts as we can.

Filed under: Employee Ownership Message, Member Services, TEA Members, , ,

ESOP Association Welcomes New Members

Welcome to our new members!

Corporate members:

Acme Mechanical Contractors, Manassas, VA

Avtask, Inc., Wright City, MO

Central Milling Holdings, Inc., Logan, UT

Construction Midwest Inc., New Hope, MN

E. T. Horn Company, La Mirada, CA

Edminster Hinshaw Russ & Associates Dba EHRA, Houston, TX

Health Management Associates, Tallahassee, FL

INSPRO, Inc., Lincoln, NE

J. F. White Contracting Company, Framingham, MA

Kentwood Office Furniture, Grand Rapids, MI

McKay Nursery Company, Waterloo, WI

Morley Builders, Santa Monica, CA

Northwest River Supplies, Inc., Moscow, ID

Palmer Engineering, Winchester, KY

PFS Corporation, Cottage Grove, WI

Professional Risk Associates, Midlothian, VA

Rainbow Tree Company, Hopkins, MN

Reese Central Wholesale, Inc., Indianapolis, IN

Robinson Home Products Inc., Williamsville, NY

Select Health Care, Inc., Rome, GA

Sierra Pacific Engineering and Products, Long Beach, CA

Sterling Global Operations, Inc., Lenoir City, TN

Storage Solutions, Westfield, IN

The Bernard Group, Inc., Chaska, MN

TRS Group, Inc., Longview, WA

W.B. Young Co., Inc., Marshall, MO

Professional members:

Mr. Larry Guenther, BMO Harris Bank N.A., Omaha, NE

Mr. Kevin Munro, BMO Harris Bank N.A., Omaha, NE

Ms. Linda Stanley, Bonn, Dioguardi & Ray, LLP, Rochester, NY

Mr. Jamie Kuntz, Brady Martz & Associates, PC, Grand Forks, ND

Mr. Kevin Kellner, Bremer Bank, Saint Paul, MN

Ms. Rose Newport, Butcher Joseph Hayes LLC, Clayton, MO

Mr. Gilbert C. Van Loon, Butler Snow, Ridgeland, MS

Mr. Ted Margarit, Chartwell Capital Solutions, Minneapolis, MN

Ms. Beth Auterman, CliftonLarsonAllen, Champaign, IL

Ms. Annette Smith, Expense Reduction Analysts, Inc., Addison, TX

Ms. Cynthia Shupe, Fennemore Craig, Phoenix, AZ

Mr. Karl Buettner, Gatehouse Ventures, Devault, PA

Mr. Brad Boggs, GBQ Consulting LLC, Columbus, OH

Mr. Daniel N. Janich, Greensfelder, Hemker & Gale, P.C., Chicago, IL

Mr. David N. Levine, Groom Law Group, Chartered, Washington, DC

Mr. Christopher Nakamura, JP Morgan Chase, New York, NY

Mr. Alexander L. Mounts, Krieg DeVault LLP, Minneapolis, MN

Mr. Scott Morrisson, Krieg DeVault LLP, Indianapolis, IN

Mr. Yue Gao, Menke & Associates, Inc., San Francisco, CA

Mr. Zaldy Jucal, Menke & Associates, Inc., Los Angeles, CA

Ms. Maycel Livica, Menke & Associates, Inc., Las Vegas, NV

Mr. Thomas Welch, Palisade Asset Management, LLC, Minneapolis, MN

Mr. Peter D. Rocca, Palisade Asset Management, LLC, Minneapolis, MN

Mr. Patrick H. Flynn, Private Capital Corporation, San Rafael, CA

Mr. Michael Kouyoumdjian, Roorda, Piquet & Bessee, Inc. CPAs, Riverside, CA

Mr. Steve Smith, Sheldrick, McGehee & Kohler, LLC, Jacksonville, FL

Mr. Charles Dyke, Trucker Huss APC, San Francisco, CA

Mr. Stanley Slabas, Verit Advisors, LLC, Chicago, IL

Ms. Cindy Flanders, Verit Advisors, LLC, Chicago, IL

Mr. Anthony J. Eppert, Winstead PC, Houston, TX

Mr. Daivd W. Jackson, Winstead PC, Houston, TX

Ms. Kendra L. Castelloni, Wintrust Financial Corporation, Chicago, IL

Mr. Lucas Denberg, Zick Business Advisors, Inc., Englewood, CO

More information on ESOP Association membership here.

Filed under: Member Services, TEA Members,

ESOP Association Members Make Fortune’s 2014 100 Best Companies to Work For

Congratulations go out to four members of The ESOP Association that have been named to Fortune’s list of the 100 best Companies to Work For.

Burns & McDonnell Engineers-Architects, Kansas City, MO

W. L. Gore & Associates, Inc., Newark, DE

Publix Super Markets, Inc., Lakeland, FL

TDIndustries, Inc., Dallas, TX

“Congratulations to our members,” said ESOP Association President, J. Michael Keeling. “Employees with employee stock ownership, including those with ESOPs, in general, have more sustainable employment. Our national leaders need to take note and understand that we need national policies to encourage employee stock ownership among working Americans. It’s the best jobs policy we have.”

To view the complete list, click here.

Filed under: News Links, TEA Members, , , , , ,

Employee Owners of Restek Corporation Meet with Senator Toomey

On November 15, 2013, the employee owners of Restek Corporation in Bellefonte, PA met with Senator Patrick J. Toomey (R-PA). The Senator toured the company’s facility and Restek employee owners thanked the Senator for his support of ESOPs and employee ownership in America. The Senator is a current co-sponsor of S. 273 — a bill introduced in early 2013 by Senator Kelly Ayotte (R-NH) to stop the Department of Labor’s proposal on the definition of a fiduciary. A short interview with the Senator on the value of employee ownership can be seen here.

Restek Toomey 1

Restek Toomey 5

Restek Toomey 4

 

Restek Toomey 2

Filed under: Employee Ownership Message, TEA Members, ,

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