ESOP COMPANY NEWS – November 2014 Wrap-Up

AFCO Industries Meets with Congressman Cassidy

Dr. Bill Cassidy, the Republican Congressman from the 6th District of Louisiana, recently visited AFCO Industries in Alexandria, Louisiana. Dr. Cassidy was interested in learning more about employee-owned companies. After a plant tour, Dr. Cassidy met with the management staff and fielded questions regarding “S” Corporation status and the effect of potential tax reform. Dr. Cassidy stated that he saw a strong entrepreneurial spirt among the employees and particularly liked the term “employee owners.”

 Afco - Bill Cassidy event

Vance Metal Fabricators Meets with Congressman Reed

Vance Metal Fabricators, located in Geneva, New York, recently welcomed Congressman Tom Reed (R-NY), only the second politician the company has welcomed, the first being Teddy Roosevelt in 1900, noted Joe Hennessy, the President of Vance. Congressman Aaron Schock (R) of Illinois joined Congressman Reed at the visit. Both Reed and Schock are members of the House Ways and Means Committee and stated their interest in helping businesses.

Mr. Hennessy shared an article that ran in the Finger Lakes Times about the Congressmen’s visit with the Association and noted: “We had a valuable discussion about the merits of employee-owned businesses and I believe they are on our side.”

Vance Metal - Reed Visit

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