July 2013 ESOP Report

The July 2013 issue of the ESOP Report is now available for download. 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 on Meet & Learn. A link to the ESOP Report is located on the left side menu.

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Keep Up With Advocacy Updates

With tax reform and the President’s budget provision in circulation (more information here), we wanted to share several options for staying on top of Association news.

Website – all information is posted to The ESOP Association’s website. Check the ESOP Bulletin under Advocacy and the News section on the homepage for the latest information.

ESOP Association Blog – government affairs information is posted here as it happens. There is an email subscription feature on the homepage. You’ll be notified by email when new information is posted. The RSS feed is another option for updates.

Facebook and LinkedIn – information and links to information are posted to the Association’s Facebook page and LinkedIn group for members to stay involved.

YouTube Channel – when important information is announced, additional commentary is posted to the Association’s YouTube Channel.

Email – emails to the membership will continue on important issues.

As information breaks, the Association will share information in several forms and in several places to reach members.

Got questions? Let us know.

ESOP Association News: Pro-ESOP Bill Introduced in Senate

ESOP Association News

The ESOP Association sent out the following press release today. We’re sharing with our blog readers.

For immediate release: April 18, 2013

 Pro-ESOP Bill Introduced in Senate

April 18, 2013 (Washington, DC) – The ESOP Association expresses strong support for S.742, the Promotion and Expansion of Private Employee Ownership Act of 2013, introduced April 17, 2013 by Senator Ben Cardin (D-MD) and co-sponsored by a bi-partisan group of Senators including, Roy Blunt (R-MO), Amy Klobuchar (D-MN), Mary L. Landrieu (D-LA), Pat Roberts (R-KS), Debbie Stabenow (D-MI), and John Thune (R-SD).

S. 742 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 and expand opportunities for existing S ESOP corporations.

“Needless to say, it is extremely pleasing to see these Senate leaders, representing bi-partisanship, stand up for employee stock ownership through ESOPs, in contrast to the Administration’s position that ESOPs do not benefit employees, their companies, and our nation if a company has more than $5 million in revenue per year,” said ESOP Association President, J. Michael Keeling. “Research proves that ESOPs, and companies with other forms of employee stock ownership, provide more sustainable employment. For example, according to the 2010 General Social Survey, employee stock owned companies laid off employees at a rate of 2.6% in 2010, whereas the rate for conventionally-owned companies was 12.1%. We need policies to encourage employee stock ownership, and new policies, such as S. 742, to increase ownership among more working 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.

The ESOP Association Announces 2013 Silver ESOP Award Recipients

The ESOP Association sent out the following release this morning. We wanted to share the news with readers here. Congratulations to the 2013 ESOP Silver Award Recipients.

For Immediate Release: March 26, 2013

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

The ESOP Association Announces 2013 Silver ESOP Award Recipients

March 26, 2013 (Washington, DC) – The ESOP Association has presented 26 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 2013.

This is the sixth 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; and in 2012, 49 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 26 companies with the 2013 Silver ESOP Award for excellence in sustaining their ESOP for 25 years,” said ESOP Association President, J. Michael Keeling. “Research proves that ESOPs, and companies with other forms of employee stock ownership, provide more sustainable employment. Policies to encourage employee stock ownership, and new policies to increase ownership among more working Americans, need to be considered by our national leaders.” 2013 Silver ESOP Award Recipients:

Anderson & Associates, Inc., Blacksburg, VA

Beacon Technical Industries, Inc., Atlanta, GA

Bobbitt Design Build, Inc., Raleigh, NC

Bradford Company, Holland, MI

Brunson Instrument Company, Kansas City, MO

Century Bank & Trust, Coldwater, MI

DCI, Inc., Saint Cloud, MN

Dexter Apache Holdings, Inc., Fairfield, IA

Energy Product Sales, Saint Paul, MN

Forsythe Technology, Inc., Skokie, IL

Frank P. Langley Co., Inc., Amherst, NY

Gardener’s Supply Company, Burlington, VT

Howard’s Appliances, Inc., La Habra, CA

ITA Group, Inc., West Des Moines, IA

John Latta Associates, Inc., Portland, OR

John W. Danforth Co., Tonawanda, NY

Keenan & Associates, Torrance, CA

Keller, Inc., Kaukauna, WI

Lamp, Rynearson & Associates, Inc., Omaha, NE

Pension Works, Inc., Colchester, VT

Precise Metal Products Company, Phoenix, AZ

RPM, Inc., Grand Rapids, MI

SJE-Rhombus, Detroit Lakes, MN

Staab Construction Corporation, Marshfield, WI

West Valley Construction Co., Inc., Campbell, CA

Wheaton Van Lines, Inc., Indianapolis, IN

All 267 Silver ESOP Award recipients will be honored at The ESOP Association’s Annual Conference in May (May 9 – 10, 2013) and highlighted at the 22nd Annual Awards Ceremony held on the evening of May 8th.

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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.

New Jersey Assemblyman Introduces ESOP Bill

As reported in the January 2013, ESOP Report newsletter, Assemblyman and Deputy Speaker of the New Jersey State Legislature, Upendra J. Chivukula (D), introduced a bill to encourage small businesses to establish ESOPs in December 2012. The bill would provide “…a gross income tax exclusion for certain capital gains from the sale of employer securities to a non-publicly traded business with fewer than 500 employees, whose headquarters or base of operations is in this State, to an employee stock ownership plan, a New Jersey S corporation owned by an employee stock ownership plan…” The bill is very similar to Iowa Governor Terry Brandstad’s ESOP initiative program which passed the Iowa State Legislature in 2012. When additional information about the New Jersey bill becomes available, it will be shared with Association members.

“It’s encouraging to see states considering bills to facilitate ESOP creation,” said ESOP Association President, J. Michael Keeling. “Indiana and Iowa with their respective states’ ESOP Initiatives, and now New Jersey, are leading the way on a state level and clearly see the value employee ownership brings to a company.”

January 2013 ESOP Report Newsletter

The January 2013 issue of the ESOP Report is now available for download on The ESOP Association’s website. To download this month’s issue, you’ll need to sign into the website. The Member Sign In button is located at the top of the page. To get to the ESOP Report, click on Meet & Learn. A link to the ESOP Report is located on the left side menu.

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Members Featured in the Star Tribune

In recent days, two corporate members of The ESOP Association have been featured in the Star Tribune: Border States Electric (Fargo, ND) and HLB Tautges Redpath (St. Paul, MN). We thought we’d take a minute to share the links with readers.

A quiet supply giant spreads the wealth

Article by: DAVID SHAFFER, Star Tribune

ESOP experts walk the talk

Article by: NEAL ST. ANTHONY, Star Tribune

 

ESOP Association Members Make Fortune’s List of the 100 Best Companies to Work For

Congratulations go out to five 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

TDIndustries, Inc., Dallas, TX

Publix Super Markets, Inc., Lakeland, FL

Schweitzer Engineering Laboratories, Inc., Pullman, WA

“This is what ESOP companies do — they create great place to work. Congratulations to our members on the list,” said J. Michael Keeling, ESOP Association president. “An ESOP Association survey conducted in 2011 showed that 92.2% of survey respondents reported that creating employee ownership through an ESOP was ‘a good business decision that has helped the company.’ In addition, 72.9% of respondents indicated the ESOP positively affected the overall productivity of the employees. It would be a shame if the Congressional bipartisan support for our modest national policy encouraging employee ownership was not enhanced as Congress looks for a ‘common’ ground policy encouraging U.S. based jobs. Five percent of the companies on this list are wholly or partially owned through the ESOP which is an amazing figure considering that ESOP companies only make up about .0025 percent of all businesses in America.”

To view the complete list, click here and more information about the companies is here.

If you would like to know how the companies are chosen, go here.